200 years proudly supporting Australia

Climate Bond Framework

NOTE:

All images are held in templated

image placeholders.

They can be changed by simply

selecting and deleting the image,

then selecting a new one.

Note that you will have to “send

to back” or “bring forward”

imagery as necessary.

To move the image around in the

placeholder, just select the

image, right click and select

CROP.

Select image and move as

necessary.

There is a semi-transparent

white shape that will need to

always be placed on top of the

very back image.

There are red placement lines at

the top of this slide should you

ever need to move and replace

the wedge.

Westpac Banking Corporation

ABN 33 007 457 141

Dow Jones Sustainability Indices Number one bank globally in 2017,

for the 4th year in a row and the 10th time

since the index was established

FONT SIZES

IDP TEMPLATE Charts: 10pt │Tables: 12pt │ Text boxes: 12pt │ Text box headings: 14pt

R73

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G26

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R175

G38

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R73

G19

B56

R147

G147

B147

R84

G49

B78

R59

G12

B44

R139

G15

B9

R104

G9

B6

R44

G9

B33

R120

G120

B120

R42

G52

B58

Below is the chart colour sequence. If your chart has more than 12 series‘ you will need to manually colour the additional series.

Westpac Red,

used as the HIGHLIGHT colour

LINES AND ARROWS

Lines are solid black or red, 1.5pt

Arrows are block style to fit text inside, see

‘pullout boxes and arrows’ elements slide

Body – 12pt Arial Regular sentence case

• Bullet – 12pt Arial Regular

Second Bullet – 12pt Arial Regular

Heading – 14pt Times New Roman Bold Note – 10pt Arial Regular

Text boxes have 0.0cm margin on all sides

These are your 5 levels of styles.

To move through the different styles, select the text and press

TAB. To return to the previous style, press SHIFT + TAB.

If you are on a blank line, use the Increase or Decrease Indent

buttons on the Home tab

Chart heading text boxes have 0.25cm margin on left

All text is black. No grey text

Use the shapes supplied in the ‘Editable Elements’ section.

Never skew the shape. Resize proportionally in order to keep the

angles of the curves on each side.

To create a longer wave shape, resize proportionally and join

multiple shapes together with aligning and grouping.

E.g. these:

Become:

TEXT

SHAPES

GRID

To show the grid, right click the slide and

select ‘Grids and Guidelines’ > ‘Guides”

Subheading in charts is 10pt bold

Text in charts is 10pt TABLES

Headings 12pt bold all CAPS

Heading divider line 1.5pt red

All other horizontal lines .75pt grey

Total line same as heading

All text 12pt where possible, reduced

where required to a minimum of 8pt

CHART HEADINGS

The heading box should sit 0.2cm indented from

the top and right side of the chart background box.

1 line heading box = 0.8cm height

2 line heading box = 1.2cm height

Height must remain consistent, width will vary.

Most layouts use a one line heading box, you can

manually paste a two line heading box over this

area. Select from the pre-made options on ‘chart

title text boxes’ slide in the ‘Editable Elements’

section.

NOTE: All content placeholders are adaptable. If a placeholder already contains (for example) a bar chart, this

can be deleted to insert a table, text, image or other content. The template is very flexible. There are a lot of

layout options provided, manipulate them as needed to suit your content but if it’s not looking right, you can

always ‘Reset’ the slide to revert back to the templated layout.

Guides

Notes that are specific to a certain

layout will be placed here

R77

G77

B79

Westpac Grey,

not used in charts

Text inside

13.80 4.80 4.40 0.20 0.20 4.40 4.80 13.80

8.40

7.00

0.40

0.80

8.20

10.00

Divisional colours

Consumer

R228

G26

B18

WIB

R84

G49

B78

BTFG

R0

G175

B215

New Zealand

R175

G38

B22

Business

R139

G15

B9

Westpac primary colours

R177

G189

B197

R247

G161

B157

R251

G154

B144

R233

G172

B214

R212

G212

B212

R199

G160

B193

60% tint colours

2 Westpac Climate Change Solutions and Climate Bond Framework

Westpac Climate Change Solutions Overview

Westpac Climate Bond Framework

Eligible Projects and Use of Proceeds

Process for Project Evaluation and Selection

Management of Proceeds

Reporting

1

2

3

4

5

6

FONT SIZES

IDP TEMPLATE Charts: 10pt │Tables: 12pt │ Text boxes: 12pt │ Text box headings: 14pt

R73

G87

B97

R228

G26

B18

R175

G38

B22

R73

G19

B56

R147

G147

B147

R84

G49

B78

R59

G12

B44

R139

G15

B9

R104

G9

B6

R44

G9

B33

R120

G120

B120

R42

G52

B58

Below is the chart colour sequence. If your chart has more than 12 series‘ you will need to manually colour the additional series.

Westpac Red,

used as the HIGHLIGHT colour

LINES AND ARROWS

Lines are solid black or red, 1.5pt

Arrows are block style to fit text inside, see

‘pullout boxes and arrows’ elements slide

Body – 12pt Arial Regular sentence case

• Bullet – 12pt Arial Regular

Second Bullet – 12pt Arial Regular

Heading – 14pt Times New Roman Bold Note – 10pt Arial Regular

Text boxes have 0.0cm margin on all sides

These are your 5 levels of styles.

To move through the different styles, select the text and press

TAB. To return to the previous style, press SHIFT + TAB.

If you are on a blank line, use the Increase or Decrease Indent

buttons on the Home tab

Chart heading text boxes have 0.25cm margin on left

All text is black. No grey text

Use the shapes supplied in the ‘Editable Elements’ section.

Never skew the shape. Resize proportionally in order to keep the

angles of the curves on each side.

To create a longer wave shape, resize proportionally and join

multiple shapes together with aligning and grouping.

E.g. these:

Become:

TEXT

SHAPES

GRID

To show the grid, right click the slide and

select ‘Grids and Guidelines’ > ‘Guides”

Subheading in charts is 10pt bold

Text in charts is 10pt TABLES

Headings 12pt bold all CAPS

Heading divider line 1.5pt red

All other horizontal lines .75pt grey

Total line same as heading

All text 12pt where possible, reduced

where required to a minimum of 8pt

CHART HEADINGS

The heading box should sit 0.2cm indented from

the top and right side of the chart background box.

1 line heading box = 0.8cm height

2 line heading box = 1.2cm height

Height must remain consistent, width will vary.

Most layouts use a one line heading box, you can

manually paste a two line heading box over this

area. Select from the pre-made options on ‘chart

title text boxes’ slide in the ‘Editable Elements’

section.

NOTE: All content placeholders are adaptable. If a placeholder already contains (for example) a bar chart, this

can be deleted to insert a table, text, image or other content. The template is very flexible. There are a lot of

layout options provided, manipulate them as needed to suit your content but if it’s not looking right, you can

always ‘Reset’ the slide to revert back to the templated layout.

Guides

Notes that are specific to a certain

layout will be placed here

R77

G77

B79

Westpac Grey,

not used in charts

Text inside

13.80 4.80 4.40 0.20 0.20 4.40 4.80 13.80

8.40

7.00

0.40

0.80

8.20

10.00

Divisional colours

Consumer

R228

G26

B18

WIB

R84

G49

B78

BTFG

R0

G175

B215

New Zealand

R175

G38

B22

Business

R139

G15

B9

Westpac primary colours

R177

G189

B197

R247

G161

B157

R251

G154

B144

R233

G172

B214

R212

G212

B212

R199

G160

B193

60% tint colours

Westpac Climate Change Solutions Overview

Climate Change Solutions

• Westpac Group has long recognised that climate change is one of the most significant issues that will impact the long-term

prosperity of our economy and way of life.

• We are focussed on providing finance to back Climate Change Solutions

Building on the climate change scenario analysis Westpac completed in 2016, we have set our targets based on the current outlook for

investment in climate change solutions that is required to remain on a credible pathway to a net zero emissions outcome by 2050. We

define climate change solutions as those technologies and practices that are consistent with the investment required to limit global

warming to less than two degrees and address its impacts

Westpac’s plan to provide finance to back climate change solutions encompasses the total direct and indirect financing of customers to the

extent they are involved in the activities outlined in the eligible criteria, and those that broadly align with the Climate Bond Initiatives (CBI)

taxonomy

As a founding signatory to the Equator Principles, where an asset is financed by project finance, Westpac agreed to provide loans only for

projects whose sponsors can demonstrate their ability and willingness to comply with processes that ensure they are developed in a

socially responsible manner, according to sound environmental management practices.

• Westpac Climate Bonds

Westpac issues Climate Bonds as part of its commitment to facilitate up to $3 billion in climate change solutions by 2020, e.g. green bond

issuance and arrangement

The procedures outlined in our Climate Bond Framework document set out the process for regular tracking of the climate bond issuance

and asset allocation pool. On issuance of a climate bond the climate bond net proceeds will be invested in line with our climate change

solutions strategic focus and Climate Change Action Plan.

https://www.westpac.com.au/about-westpac/investor-centre/fixed-income-investors/

3

FONT SIZES

IDP TEMPLATE Charts: 10pt │Tables: 12pt │ Text boxes: 12pt │ Text box headings: 14pt

R73

G87

B97

R228

G26

B18

R175

G38

B22

R73

G19

B56

R147

G147

B147

R84

G49

B78

R59

G12

B44

R139

G15

B9

R104

G9

B6

R44

G9

B33

R120

G120

B120

R42

G52

B58

Below is the chart colour sequence. If your chart has more than 12 series‘ you will need to manually colour the additional series.

Westpac Red,

used as the HIGHLIGHT colour

LINES AND ARROWS

Lines are solid black or red, 1.5pt

Arrows are block style to fit text inside, see

‘pullout boxes and arrows’ elements slide

Body – 12pt Arial Regular sentence case

• Bullet – 12pt Arial Regular

Second Bullet – 12pt Arial Regular

Heading – 14pt Times New Roman Bold Note – 10pt Arial Regular

Text boxes have 0.0cm margin on all sides

These are your 5 levels of styles.

To move through the different styles, select the text and press

TAB. To return to the previous style, press SHIFT + TAB.

If you are on a blank line, use the Increase or Decrease Indent

buttons on the Home tab

Chart heading text boxes have 0.25cm margin on left

All text is black. No grey text

Use the shapes supplied in the ‘Editable Elements’ section.

Never skew the shape. Resize proportionally in order to keep the

angles of the curves on each side.

To create a longer wave shape, resize proportionally and join

multiple shapes together with aligning and grouping.

E.g. these:

Become:

TEXT

SHAPES

GRID

To show the grid, right click the slide and

select ‘Grids and Guidelines’ > ‘Guides”

Subheading in charts is 10pt bold

Text in charts is 10pt TABLES

Headings 12pt bold all CAPS

Heading divider line 1.5pt red

All other horizontal lines .75pt grey

Total line same as heading

All text 12pt where possible, reduced

where required to a minimum of 8pt

CHART HEADINGS

The heading box should sit 0.2cm indented from

the top and right side of the chart background box.

1 line heading box = 0.8cm height

2 line heading box = 1.2cm height

Height must remain consistent, width will vary.

Most layouts use a one line heading box, you can

manually paste a two line heading box over this

area. Select from the pre-made options on ‘chart

title text boxes’ slide in the ‘Editable Elements’

section.

NOTE: All content placeholders are adaptable. If a placeholder already contains (for example) a bar chart, this

can be deleted to insert a table, text, image or other content. The template is very flexible. There are a lot of

layout options provided, manipulate them as needed to suit your content but if it’s not looking right, you can

always ‘Reset’ the slide to revert back to the templated layout.

Guides

Notes that are specific to a certain

layout will be placed here

R77

G77

B79

Westpac Grey,

not used in charts

Text inside

13.80 4.80 4.40 0.20 0.20 4.40 4.80 13.80

8.40

7.00

0.40

0.80

8.20

10.00

Divisional colours

Consumer

R228

G26

B18

WIB

R84

G49

B78

BTFG

R0

G175

B215

New Zealand

R175

G38

B22

Business

R139

G15

B9

Westpac primary colours

R177

G189

B197

R247

G161

B157

R251

G154

B144

R233

G172

B214

R212

G212

B212

R199

G160

B193

60% tint colours

Westpac Climate Change Solutions Overview cont.

Climate Change Solutions

• Climate Change Solutions activities are those which

Have been specifically identified as such (refer to the list below)

Broadly align with the Climate Bond Initiatives (CBI) taxonomy

Comply with the Equator Principles where asset is financed by project finance

• Climate Change Solutions should include but are not limited to

Renewable energy

Energy efficiency technologies

Green buildings

Low-carbon transport

Waste

Water

Carbon abatement and sequestration projects

Forestry and land rehabilitation

Adaptation infrastructure

• Our climate change position statement and action plan builds on our strong track

record, outlining the next phase of actions we are taking to meet our commitment

to operate in a manner consistent with limiting global warming to less than two

degrees Celsius above pre-industrial levels

Find out more at https://www.westpac.com.au/about-westpac/sustainability/

4

White Rock Wind Farm

Image of Hallett Wind Farm courtesy of AGL Energy

FONT SIZES

IDP TEMPLATE Charts: 10pt │Tables: 12pt │ Text boxes: 12pt │ Text box headings: 14pt

R73

G87

B97

R228

G26

B18

R175

G38

B22

R73

G19

B56

R147

G147

B147

R84

G49

B78

R59

G12

B44

R139

G15

B9

R104

G9

B6

R44

G9

B33

R120

G120

B120

R42

G52

B58

Below is the chart colour sequence. If your chart has more than 12 series‘ you will need to manually colour the additional series.

Westpac Red,

used as the HIGHLIGHT colour

LINES AND ARROWS

Lines are solid black or red, 1.5pt

Arrows are block style to fit text inside, see

‘pullout boxes and arrows’ elements slide

Body – 12pt Arial Regular sentence case

• Bullet – 12pt Arial Regular

Second Bullet – 12pt Arial Regular

Heading – 14pt Times New Roman Bold Note – 10pt Arial Regular

Text boxes have 0.0cm margin on all sides

These are your 5 levels of styles.

To move through the different styles, select the text and press

TAB. To return to the previous style, press SHIFT + TAB.

If you are on a blank line, use the Increase or Decrease Indent

buttons on the Home tab

Chart heading text boxes have 0.25cm margin on left

All text is black. No grey text

Use the shapes supplied in the ‘Editable Elements’ section.

Never skew the shape. Resize proportionally in order to keep the

angles of the curves on each side.

To create a longer wave shape, resize proportionally and join

multiple shapes together with aligning and grouping.

E.g. these:

Become:

TEXT

SHAPES

GRID

To show the grid, right click the slide and

select ‘Grids and Guidelines’ > ‘Guides”

Subheading in charts is 10pt bold

Text in charts is 10pt TABLES

Headings 12pt bold all CAPS

Heading divider line 1.5pt red

All other horizontal lines .75pt grey

Total line same as heading

All text 12pt where possible, reduced

where required to a minimum of 8pt

CHART HEADINGS

The heading box should sit 0.2cm indented from

the top and right side of the chart background box.

1 line heading box = 0.8cm height

2 line heading box = 1.2cm height

Height must remain consistent, width will vary.

Most layouts use a one line heading box, you can

manually paste a two line heading box over this

area. Select from the pre-made options on ‘chart

title text boxes’ slide in the ‘Editable Elements’

section.

NOTE: All content placeholders are adaptable. If a placeholder already contains (for example) a bar chart, this

can be deleted to insert a table, text, image or other content. The template is very flexible. There are a lot of

layout options provided, manipulate them as needed to suit your content but if it’s not looking right, you can

always ‘Reset’ the slide to revert back to the templated layout.

Guides

Notes that are specific to a certain

layout will be placed here

R77

G77

B79

Westpac Grey,

not used in charts

Text inside

13.80 4.80 4.40 0.20 0.20 4.40 4.80 13.80

8.40

7.00

0.40

0.80

8.20

10.00

Divisional colours

Consumer

R228

G26

B18

WIB

R84

G49

B78

BTFG

R0

G175

B215

New Zealand

R175

G38

B22

Business

R139

G15

B9

Westpac primary colours

R177

G189

B197

R247

G161

B157

R251

G154

B144

R233

G172

B214

R212

G212

B212

R199

G160

B193

60% tint colours

5 Westpac Climate Bond Framework

Westpac Climate Bond Framework

Eligible Projects and Use of Proceeds

Process for Project Evaluation and Selection

Management of Proceeds

Reporting

3

4

5

6

2

FONT SIZES

IDP TEMPLATE Charts: 10pt │Tables: 12pt │ Text boxes: 12pt │ Text box headings: 14pt

R73

G87

B97

R228

G26

B18

R175

G38

B22

R73

G19

B56

R147

G147

B147

R84

G49

B78

R59

G12

B44

R139

G15

B9

R104

G9

B6

R44

G9

B33

R120

G120

B120

R42

G52

B58

Below is the chart colour sequence. If your chart has more than 12 series‘ you will need to manually colour the additional series.

Westpac Red,

used as the HIGHLIGHT colour

LINES AND ARROWS

Lines are solid black or red, 1.5pt

Arrows are block style to fit text inside, see

‘pullout boxes and arrows’ elements slide

Body – 12pt Arial Regular sentence case

• Bullet – 12pt Arial Regular

Second Bullet – 12pt Arial Regular

Heading – 14pt Times New Roman Bold Note – 10pt Arial Regular

Text boxes have 0.0cm margin on all sides

These are your 5 levels of styles.

To move through the different styles, select the text and press

TAB. To return to the previous style, press SHIFT + TAB.

If you are on a blank line, use the Increase or Decrease Indent

buttons on the Home tab

Chart heading text boxes have 0.25cm margin on left

All text is black. No grey text

Use the shapes supplied in the ‘Editable Elements’ section.

Never skew the shape. Resize proportionally in order to keep the

angles of the curves on each side.

To create a longer wave shape, resize proportionally and join

multiple shapes together with aligning and grouping.

E.g. these:

Become:

TEXT

SHAPES

GRID

To show the grid, right click the slide and

select ‘Grids and Guidelines’ > ‘Guides”

Subheading in charts is 10pt bold

Text in charts is 10pt TABLES

Headings 12pt bold all CAPS

Heading divider line 1.5pt red

All other horizontal lines .75pt grey

Total line same as heading

All text 12pt where possible, reduced

where required to a minimum of 8pt

CHART HEADINGS

The heading box should sit 0.2cm indented from

the top and right side of the chart background box.

1 line heading box = 0.8cm height

2 line heading box = 1.2cm height

Height must remain consistent, width will vary.

Most layouts use a one line heading box, you can

manually paste a two line heading box over this

area. Select from the pre-made options on ‘chart

title text boxes’ slide in the ‘Editable Elements’

section.

NOTE: All content placeholders are adaptable. If a placeholder already contains (for example) a bar chart, this

can be deleted to insert a table, text, image or other content. The template is very flexible. There are a lot of

layout options provided, manipulate them as needed to suit your content but if it’s not looking right, you can

always ‘Reset’ the slide to revert back to the templated layout.

Guides

Notes that are specific to a certain

layout will be placed here

R77

G77

B79

Westpac Grey,

not used in charts

Text inside

13.80 4.80 4.40 0.20 0.20 4.40 4.80 13.80

8.40

7.00

0.40

0.80

8.20

10.00

Divisional colours

Consumer

R228

G26

B18

WIB

R84

G49

B78

BTFG

R0

G175

B215

New Zealand

R175

G38

B22

Business

R139

G15

B9

Westpac primary colours

R177

G189

B197

R247

G161

B157

R251

G154

B144

R233

G172

B214

R212

G212

B212

R199

G160

B193

60% tint colours

Westpac Climate Bond Framework

Climate Bond Framework

• Westpac Climate Bonds support the commitment we have had to sustainability and managing our environmental impacts for more than

20 years. Information is available at our website on how sustainability is part of doing business at Westpac, as well as our annual

sustainability reports

• Westpac’s Climate Bond framework was developed to reflect the Green Bond Principles (GBP) voluntary guidelines to allow

transparency and disclosure to promote integrity in the Green Bond market published by the International Capital Markets Association

(“ICMA”)

• The framework is also aligned to the Climate Bond Initiative’s Climate Bond Standards V2.1 or as updated

• Westpac Climate Bonds give investors the opportunity to support environmental projects through a high-grade fixed income investment

• To date, funds from Westpac Climate Bonds have been allocated to Climate Change Solutions, including wind energy facilities and low

carbon commercial properties and transport, all certified under the Climate Bonds Standard (v2.1)

• Westpac issued its first Climate Bond in June 2016

6

FONT SIZES

IDP TEMPLATE Charts: 10pt │Tables: 12pt │ Text boxes: 12pt │ Text box headings: 14pt

R73

G87

B97

R228

G26

B18

R175

G38

B22

R73

G19

B56

R147

G147

B147

R84

G49

B78

R59

G12

B44

R139

G15

B9

R104

G9

B6

R44

G9

B33

R120

G120

B120

R42

G52

B58

Below is the chart colour sequence. If your chart has more than 12 series‘ you will need to manually colour the additional series.

Westpac Red,

used as the HIGHLIGHT colour

LINES AND ARROWS

Lines are solid black or red, 1.5pt

Arrows are block style to fit text inside, see

‘pullout boxes and arrows’ elements slide

Body – 12pt Arial Regular sentence case

• Bullet – 12pt Arial Regular

Second Bullet – 12pt Arial Regular

Heading – 14pt Times New Roman Bold Note – 10pt Arial Regular

Text boxes have 0.0cm margin on all sides

These are your 5 levels of styles.

To move through the different styles, select the text and press

TAB. To return to the previous style, press SHIFT + TAB.

If you are on a blank line, use the Increase or Decrease Indent

buttons on the Home tab

Chart heading text boxes have 0.25cm margin on left

All text is black. No grey text

Use the shapes supplied in the ‘Editable Elements’ section.

Never skew the shape. Resize proportionally in order to keep the

angles of the curves on each side.

To create a longer wave shape, resize proportionally and join

multiple shapes together with aligning and grouping.

E.g. these:

Become:

TEXT

SHAPES

GRID

To show the grid, right click the slide and

select ‘Grids and Guidelines’ > ‘Guides”

Subheading in charts is 10pt bold

Text in charts is 10pt TABLES

Headings 12pt bold all CAPS

Heading divider line 1.5pt red

All other horizontal lines .75pt grey

Total line same as heading

All text 12pt where possible, reduced

where required to a minimum of 8pt

CHART HEADINGS

The heading box should sit 0.2cm indented from

the top and right side of the chart background box.

1 line heading box = 0.8cm height

2 line heading box = 1.2cm height

Height must remain consistent, width will vary.

Most layouts use a one line heading box, you can

manually paste a two line heading box over this

area. Select from the pre-made options on ‘chart

title text boxes’ slide in the ‘Editable Elements’

section.

NOTE: All content placeholders are adaptable. If a placeholder already contains (for example) a bar chart, this

can be deleted to insert a table, text, image or other content. The template is very flexible. There are a lot of

layout options provided, manipulate them as needed to suit your content but if it’s not looking right, you can

always ‘Reset’ the slide to revert back to the templated layout.

Guides

Notes that are specific to a certain

layout will be placed here

R77

G77

B79

Westpac Grey,

not used in charts

Text inside

13.80 4.80 4.40 0.20 0.20 4.40 4.80 13.80

8.40

7.00

0.40

0.80

8.20

10.00

Divisional colours

Consumer

R228

G26

B18

WIB

R84

G49

B78

BTFG

R0

G175

B215

New Zealand

R175

G38

B22

Business

R139

G15

B9

Westpac primary colours

R177

G189

B197

R247

G161

B157

R251

G154

B144

R233

G172

B214

R212

G212

B212

R199

G160

B193

60% tint colours

Eligible Projects and Use of Proceeds

Climate Bond Framework

• Eligible Climate Change Solutions mean financing of or investment in whole or in part, for the development or redevelopment of:

Renewable energy projects including systems and equipment that facilitate the use or production of energy from renewable sources

Developments or redevelopments that have received certifications from the Climate Bonds Standards for Low Carbon buildings under the

commercial property qualification. Properties earmarked for inclusion in the climate bond asset pool would start with a National Australia

Built Environment Rating System energy rating (a NABER Rating) of 5 stars or higher and then be tested for eligibility for the CBS)

Projects that meet the requirements of the Climate Bonds Initiative’s Climate Bonds Standard and Taxonomy in all material respects, such

as low carbon transport

• For the purposes of the issuance of a Westpac Climate Bond, the net proceeds will be used to fund eligible Climate Change Solutions

projects that meet the requirements of the Climate Bonds Initiative’s Climate Bonds Standard (Climate Bonds Standard V2.1 or updated) in

all material respects

• An amount equal to the net proceeds from the issuance of the instruments will be allocated to the funding of existing and future Climate

Change Solutions projects. So long as the instruments are outstanding, internal records of the Issuer will show that the net proceeds from the

issue of the instruments have been allocated to eligible Climate Change Solutions projects

• Payment of interest and principal on the instruments will not be linked to the performance of any eligible Climate Change Solutions projects

and will be made from the issuer’s general funding pool

7

FONT SIZES

IDP TEMPLATE Charts: 10pt │Tables: 12pt │ Text boxes: 12pt │ Text box headings: 14pt

R73

G87

B97

R228

G26

B18

R175

G38

B22

R73

G19

B56

R147

G147

B147

R84

G49

B78

R59

G12

B44

R139

G15

B9

R104

G9

B6

R44

G9

B33

R120

G120

B120

R42

G52

B58

Below is the chart colour sequence. If your chart has more than 12 series‘ you will need to manually colour the additional series.

Westpac Red,

used as the HIGHLIGHT colour

LINES AND ARROWS

Lines are solid black or red, 1.5pt

Arrows are block style to fit text inside, see

‘pullout boxes and arrows’ elements slide

Body – 12pt Arial Regular sentence case

• Bullet – 12pt Arial Regular

Second Bullet – 12pt Arial Regular

Heading – 14pt Times New Roman Bold Note – 10pt Arial Regular

Text boxes have 0.0cm margin on all sides

These are your 5 levels of styles.

To move through the different styles, select the text and press

TAB. To return to the previous style, press SHIFT + TAB.

If you are on a blank line, use the Increase or Decrease Indent

buttons on the Home tab

Chart heading text boxes have 0.25cm margin on left

All text is black. No grey text

Use the shapes supplied in the ‘Editable Elements’ section.

Never skew the shape. Resize proportionally in order to keep the

angles of the curves on each side.

To create a longer wave shape, resize proportionally and join

multiple shapes together with aligning and grouping.

E.g. these:

Become:

TEXT

SHAPES

GRID

To show the grid, right click the slide and

select ‘Grids and Guidelines’ > ‘Guides”

Subheading in charts is 10pt bold

Text in charts is 10pt TABLES

Headings 12pt bold all CAPS

Heading divider line 1.5pt red

All other horizontal lines .75pt grey

Total line same as heading

All text 12pt where possible, reduced

where required to a minimum of 8pt

CHART HEADINGS

The heading box should sit 0.2cm indented from

the top and right side of the chart background box.

1 line heading box = 0.8cm height

2 line heading box = 1.2cm height

Height must remain consistent, width will vary.

Most layouts use a one line heading box, you can

manually paste a two line heading box over this

area. Select from the pre-made options on ‘chart

title text boxes’ slide in the ‘Editable Elements’

section.

NOTE: All content placeholders are adaptable. If a placeholder already contains (for example) a bar chart, this

can be deleted to insert a table, text, image or other content. The template is very flexible. There are a lot of

layout options provided, manipulate them as needed to suit your content but if it’s not looking right, you can

always ‘Reset’ the slide to revert back to the templated layout.

Guides

Notes that are specific to a certain

layout will be placed here

R77

G77

B79

Westpac Grey,

not used in charts

Text inside

13.80 4.80 4.40 0.20 0.20 4.40 4.80 13.80

8.40

7.00

0.40

0.80

8.20

10.00

Divisional colours

Consumer

R228

G26

B18

WIB

R84

G49

B78

BTFG

R0

G175

B215

New Zealand

R175

G38

B22

Business

R139

G15

B9

Westpac primary colours

R177

G189

B197

R247

G161

B157

R251

G154

B144

R233

G172

B214

R212

G212

B212

R199

G160

B193

60% tint colours

Process for Project Evaluation and Selection

Climate Bond Framework

• The selection and tracking of a climate bond asset pool to be

funded from the issuance of a climate bond, is governed by a

process that aims to ensure risks are fully understood, assessed

and properly controlled

• The process:

Ensures that projects selected for the climate bond asset pool

meet Westpac’s eligible Climate Change Solutions lending

criteria

Ensures funded assets represent a diverse selection of projects

seeks to understand, assess, and/or properly control risks of the

selected projects including, but not limited to, reputational risks

8

Sustainability Risk Management Framework

ESG Credit Risk Policy

Westpac’s Approach to Sustainable Finance

Climate Change Solutions Lending

Climate Bond Selection

Eligible Assets

Ineligible Assets

Westp

ac C

limate

Bond fra

mew

ork

and e

ligib

le

secto

r crite

ria

FONT SIZES

IDP TEMPLATE Charts: 10pt │Tables: 12pt │ Text boxes: 12pt │ Text box headings: 14pt

R73

G87

B97

R228

G26

B18

R175

G38

B22

R73

G19

B56

R147

G147

B147

R84

G49

B78

R59

G12

B44

R139

G15

B9

R104

G9

B6

R44

G9

B33

R120

G120

B120

R42

G52

B58

Below is the chart colour sequence. If your chart has more than 12 series‘ you will need to manually colour the additional series.

Westpac Red,

used as the HIGHLIGHT colour

LINES AND ARROWS

Lines are solid black or red, 1.5pt

Arrows are block style to fit text inside, see

‘pullout boxes and arrows’ elements slide

Body – 12pt Arial Regular sentence case

• Bullet – 12pt Arial Regular

Second Bullet – 12pt Arial Regular

Heading – 14pt Times New Roman Bold Note – 10pt Arial Regular

Text boxes have 0.0cm margin on all sides

These are your 5 levels of styles.

To move through the different styles, select the text and press

TAB. To return to the previous style, press SHIFT + TAB.

If you are on a blank line, use the Increase or Decrease Indent

buttons on the Home tab

Chart heading text boxes have 0.25cm margin on left

All text is black. No grey text

Use the shapes supplied in the ‘Editable Elements’ section.

Never skew the shape. Resize proportionally in order to keep the

angles of the curves on each side.

To create a longer wave shape, resize proportionally and join

multiple shapes together with aligning and grouping.

E.g. these:

Become:

TEXT

SHAPES

GRID

To show the grid, right click the slide and

select ‘Grids and Guidelines’ > ‘Guides”

Subheading in charts is 10pt bold

Text in charts is 10pt TABLES

Headings 12pt bold all CAPS

Heading divider line 1.5pt red

All other horizontal lines .75pt grey

Total line same as heading

All text 12pt where possible, reduced

where required to a minimum of 8pt

CHART HEADINGS

The heading box should sit 0.2cm indented from

the top and right side of the chart background box.

1 line heading box = 0.8cm height

2 line heading box = 1.2cm height

Height must remain consistent, width will vary.

Most layouts use a one line heading box, you can

manually paste a two line heading box over this

area. Select from the pre-made options on ‘chart

title text boxes’ slide in the ‘Editable Elements’

section.

NOTE: All content placeholders are adaptable. If a placeholder already contains (for example) a bar chart, this

can be deleted to insert a table, text, image or other content. The template is very flexible. There are a lot of

layout options provided, manipulate them as needed to suit your content but if it’s not looking right, you can

always ‘Reset’ the slide to revert back to the templated layout.

Guides

Notes that are specific to a certain

layout will be placed here

R77

G77

B79

Westpac Grey,

not used in charts

Text inside

13.80 4.80 4.40 0.20 0.20 4.40 4.80 13.80

8.40

7.00

0.40

0.80

8.20

10.00

Divisional colours

Consumer

R228

G26

B18

WIB

R84

G49

B78

BTFG

R0

G175

B215

New Zealand

R175

G38

B22

Business

R139

G15

B9

Westpac primary colours

R177

G189

B197

R247

G161

B157

R251

G154

B144

R233

G172

B214

R212

G212

B212

R199

G160

B193

60% tint colours

Process for Project Evaluation and Selection cont.

Climate Bond Framework

1. Determine Eligible Assets to be added to Climate Change Solutions list

Financing of exposures to specific Climate Change Solutions activities, or exposures to an organisation whose sole operations are focused

on these activities

2. Eligible Asset List for Climate Change Solutions

A request is sent to Westpac’s industry teams to identify relevant assets against the Climate Change Solutions definition. The final asset list

is discussed and reviewed by all industry team analysts

3. Select Eligible Assets for inclusion in Climate Bond Asset Pool

Using the Climate Change Solutions list, a subset of assets is be selected based on the following priorities:

Large direct exposure: Initial recommendation is to select transactions with a large direct investment exposure to the relevant criteria.

Thereafter, smaller transactions may be added if all proceeds are not yet allocated

Where possible, assets should be chosen to allow a diverse selection across the relevant criteria, renewable energy, low carbon

transport and green buildings

Compliance in all respects to the Climate Bonds Standards for certification

4. Approve and Review Climate Bond Asset Pool

The Pool is then reviewed and discussed by relevant parties within Westpac including provision of relevant process documentation, data,

including underlying assumptions and evidence of justification against the definition and interviews with relevant personnel where required

5. Confidentiality

In accordance with the CBI standards on confidentiality, Westpac is not required to publicly disclose the underlying assets in the Pool.

Where permissible, Westpac will look to partner with the underlying asset owner to use the name or logo of the asset to give full disclosure

and for the purposes of marketing the bond

9

FONT SIZES

IDP TEMPLATE Charts: 10pt │Tables: 12pt │ Text boxes: 12pt │ Text box headings: 14pt

R73

G87

B97

R228

G26

B18

R175

G38

B22

R73

G19

B56

R147

G147

B147

R84

G49

B78

R59

G12

B44

R139

G15

B9

R104

G9

B6

R44

G9

B33

R120

G120

B120

R42

G52

B58

Below is the chart colour sequence. If your chart has more than 12 series‘ you will need to manually colour the additional series.

Westpac Red,

used as the HIGHLIGHT colour

LINES AND ARROWS

Lines are solid black or red, 1.5pt

Arrows are block style to fit text inside, see

‘pullout boxes and arrows’ elements slide

Body – 12pt Arial Regular sentence case

• Bullet – 12pt Arial Regular

Second Bullet – 12pt Arial Regular

Heading – 14pt Times New Roman Bold Note – 10pt Arial Regular

Text boxes have 0.0cm margin on all sides

These are your 5 levels of styles.

To move through the different styles, select the text and press

TAB. To return to the previous style, press SHIFT + TAB.

If you are on a blank line, use the Increase or Decrease Indent

buttons on the Home tab

Chart heading text boxes have 0.25cm margin on left

All text is black. No grey text

Use the shapes supplied in the ‘Editable Elements’ section.

Never skew the shape. Resize proportionally in order to keep the

angles of the curves on each side.

To create a longer wave shape, resize proportionally and join

multiple shapes together with aligning and grouping.

E.g. these:

Become:

TEXT

SHAPES

GRID

To show the grid, right click the slide and

select ‘Grids and Guidelines’ > ‘Guides”

Subheading in charts is 10pt bold

Text in charts is 10pt TABLES

Headings 12pt bold all CAPS

Heading divider line 1.5pt red

All other horizontal lines .75pt grey

Total line same as heading

All text 12pt where possible, reduced

where required to a minimum of 8pt

CHART HEADINGS

The heading box should sit 0.2cm indented from

the top and right side of the chart background box.

1 line heading box = 0.8cm height

2 line heading box = 1.2cm height

Height must remain consistent, width will vary.

Most layouts use a one line heading box, you can

manually paste a two line heading box over this

area. Select from the pre-made options on ‘chart

title text boxes’ slide in the ‘Editable Elements’

section.

NOTE: All content placeholders are adaptable. If a placeholder already contains (for example) a bar chart, this

can be deleted to insert a table, text, image or other content. The template is very flexible. There are a lot of

layout options provided, manipulate them as needed to suit your content but if it’s not looking right, you can

always ‘Reset’ the slide to revert back to the templated layout.

Guides

Notes that are specific to a certain

layout will be placed here

R77

G77

B79

Westpac Grey,

not used in charts

Text inside

13.80 4.80 4.40 0.20 0.20 4.40 4.80 13.80

8.40

7.00

0.40

0.80

8.20

10.00

Divisional colours

Consumer

R228

G26

B18

WIB

R84

G49

B78

BTFG

R0

G175

B215

New Zealand

R175

G38

B22

Business

R139

G15

B9

Westpac primary colours

R177

G189

B197

R247

G161

B157

R251

G154

B144

R233

G172

B214

R212

G212

B212

R199

G160

B193

60% tint colours

Management of Proceeds

Climate Bond Framework

• Flow of Funds for Climate Bond

Westpac climate bond funds will be allocated to the general pool of funds as set out below

Funds will be tracked and audited, to ensure any such issuance does not exceed the value of Climate Bond assets

10

Westpac

Climate Bond

Climate Bond

Asset Pool

Westpac’s General

Pool of Funds

Proceeds Loans

FONT SIZES

IDP TEMPLATE Charts: 10pt │Tables: 12pt │ Text boxes: 12pt │ Text box headings: 14pt

R73

G87

B97

R228

G26

B18

R175

G38

B22

R73

G19

B56

R147

G147

B147

R84

G49

B78

R59

G12

B44

R139

G15

B9

R104

G9

B6

R44

G9

B33

R120

G120

B120

R42

G52

B58

Below is the chart colour sequence. If your chart has more than 12 series‘ you will need to manually colour the additional series.

Westpac Red,

used as the HIGHLIGHT colour

LINES AND ARROWS

Lines are solid black or red, 1.5pt

Arrows are block style to fit text inside, see

‘pullout boxes and arrows’ elements slide

Body – 12pt Arial Regular sentence case

• Bullet – 12pt Arial Regular

Second Bullet – 12pt Arial Regular

Heading – 14pt Times New Roman Bold Note – 10pt Arial Regular

Text boxes have 0.0cm margin on all sides

These are your 5 levels of styles.

To move through the different styles, select the text and press

TAB. To return to the previous style, press SHIFT + TAB.

If you are on a blank line, use the Increase or Decrease Indent

buttons on the Home tab

Chart heading text boxes have 0.25cm margin on left

All text is black. No grey text

Use the shapes supplied in the ‘Editable Elements’ section.

Never skew the shape. Resize proportionally in order to keep the

angles of the curves on each side.

To create a longer wave shape, resize proportionally and join

multiple shapes together with aligning and grouping.

E.g. these:

Become:

TEXT

SHAPES

GRID

To show the grid, right click the slide and

select ‘Grids and Guidelines’ > ‘Guides”

Subheading in charts is 10pt bold

Text in charts is 10pt TABLES

Headings 12pt bold all CAPS

Heading divider line 1.5pt red

All other horizontal lines .75pt grey

Total line same as heading

All text 12pt where possible, reduced

where required to a minimum of 8pt

CHART HEADINGS

The heading box should sit 0.2cm indented from

the top and right side of the chart background box.

1 line heading box = 0.8cm height

2 line heading box = 1.2cm height

Height must remain consistent, width will vary.

Most layouts use a one line heading box, you can

manually paste a two line heading box over this

area. Select from the pre-made options on ‘chart

title text boxes’ slide in the ‘Editable Elements’

section.

NOTE: All content placeholders are adaptable. If a placeholder already contains (for example) a bar chart, this

can be deleted to insert a table, text, image or other content. The template is very flexible. There are a lot of

layout options provided, manipulate them as needed to suit your content but if it’s not looking right, you can

always ‘Reset’ the slide to revert back to the templated layout.

Guides

Notes that are specific to a certain

layout will be placed here

R77

G77

B79

Westpac Grey,

not used in charts

Text inside

13.80 4.80 4.40 0.20 0.20 4.40 4.80 13.80

8.40

7.00

0.40

0.80

8.20

10.00

Divisional colours

Consumer

R228

G26

B18

WIB

R84

G49

B78

BTFG

R0

G175

B215

New Zealand

R175

G38

B22

Business

R139

G15

B9

Westpac primary colours

R177

G189

B197

R247

G161

B157

R251

G154

B144

R233

G172

B214

R212

G212

B212

R199

G160

B193

60% tint colours

Reporting

Climate Bond Framework

• Performance Indicators

In line with best practice, Westpac will report and maintain its website with key performance indicators and metrics, including Westpac

Management’s Annual Assertion and Auditor Reasonable Assurance Report

Renewable energy: industry standard averages – emissions avoided from using wind or solar power (MWh) generated by wind or solar

generation displacing coal fired energy generation. Performance of the pool of assets benchmarked to market average

Property: Average KgCO2/m2 of each property benchmarked to baseline market performance; or average avoided impacts against

benchmarks

Low Carbon Transport: average avoided impacts against benchmarks of alternative car journeys

• External Audit and Attestation

PWC has been engaged by Westpac to provide reasonable assurance over the framework and proposed use of funds raised through the

issuance of a Climate Bond. The criteria against which our reasonable assurance will be provided are

The Climate Bonds Standard V2.1 (as updated or supplemented from time to time); and

Westpac’s internal policies and procedures

• Climate Bond Certification Mark V2.1

Westpac will seek verification from an independent verifier (PWC) that the proposed issue of Climate Bonds is compliant with the Climate

Bonds Standard. Under Section A Part 6 of the Climate Bonds Standard, Westpac can then hold and use the “Climate Bond Certificate and

Mark” until the bond term is complete, as long as the issue continues to comply with the Standard

11