Westpac Executive-Summary

EXECUTIVE SUMMARY

Our plan and commitment for the future as Westpac Group’s property services provider

industry innovations, strategically integrating them to enhance service delivery. Our ultimate goal is to drive substantial improvements and yield superior outcomes for Westpac. With precision and dedication, we navigate the ever-evolving landscape, ensuring that our service delivery remains at the forefront of excellence.

Our initial goal when we began working with you was to provide excellent service. Almost two decades later, our goal remains the same — to provide excellent service. At Cushman & Wakefield, our commitment lies in elevating service quality through proactive delivery. We diligently explore cutting-edge technology trends and

HELPING YOU CONTINUE A 200 OF SERVICE YEAR TRADITION

Westpac, as the first bank and the oldest company in Australia, has a continuous and central role in Australian history. It has endured and prospered because it has followed

the same mission over time: to offer stability, to assist customers and communities, and

to contribute to the economy’s growth.

4

Westpac | Cushman & Wakefield

The Westpac Group is seeking a strategic partner to provide corporate and retail property services in a manner which completes its transformation to a simpler, digitised property services model. You require a low risk, highly transformative solution from a trusted partner with proven agility to meet and manage these changes in demand across all your property services over the next decade. Cushman & Wakefield has taken great pride in contributing to Westpac’s success for the past 19 years and is excited to continue this journey with Westpac playing a crucial role in this transformation process across an even greater scope of services. Our tenure with Westpac has afforded us with insight into identifying, understanding and mastering the journey that you are about to embark on: a solution that encompasses cross functional, integrated teams, an investment in innovation and technology; all founded on a regulatory and compliance framework to ensure that the new processes are standardised and transparent . This iterative journey requires a true partner who will adapt and embark in the constant evolution of processes and systems that aligns with Westpac’s changing needs.

world class end-to-end property services Delivering

6

Westpac | Cushman & Wakefield

Central to our proposed solution for Westpac is a strategically thought-out and experienced account management structure. The intent of this structure is to deliver the Services to Westpac efficiently and effectively — offering a truly customer centric service. Simplification and Transformation are two of Westpac’s objectives in this RFP, and we have embraced these as a foundation of our end-to-end solution that offers a dedicated team that will: • Implement new investments in technology and tech-enabled processes as part of the digital transformation process. • Focus on new ways of working with an optimised internal workforce and new capabilities that will improve organisational performance, deliver immediate cost savings, manage risks and continue to optimise service delivery over time. • Prioritise diversity, equity, and inclusion principles across our workforce and

supply chain for greater impact along with leaning into the Westpac Foundation to leverage the power of this network through the identification of social enterprises and community organisations to support the reduction of barriers into the mainstream job market. • Continue to enhance the Westpac portfolio through proactive and strategic management of assets, leases, projects, and transactions, ensuring alignment with Westpac’s business transparent, data-driven, and actionable insights that enable informed decision making and continuous improvement across all property functions. • Enhance the Westpac employee experience and workplace culture through innovative and sustainable solutions that support wellness, productivity, collaboration, and diversity. • Maintain the collaborative and trusted relationship with Westpac, based on mutual respect, shared values, and a commitment to excellence. objectives and financial targets. • Provide Westpac with real time,

service backed by a long-term relationship and a deep understanding of your portfolio Transformative

8

Westpac | Cushman & Wakefield

Delivering customer experience through an experienced and dedicated core team.

Our dedicated Westpac Leadership team brings together the depth and breadth of experience across all aspects of your Services. Leading this team is Ray Sharp .

Our executive leadership will continue to be active and provide strategic support in all aspects of managing the account, as well as serving as additional points of escalation

Westpac will continue to benefit from a known and

This dedicated and passionate team is inspired to focus on presenting an environment enjoyed and shared in diverse and creative ways by all Westpac employees.

trusted contract management team structure which promotes open and transparent communication and reporting for all Westpac stakeholders. Our contract governance and operations structure aligns with Westpac’s objectives including ongoing direct communication links with our Executive Leaders — fostering a collaborative team culture across all levels.

Matthew Bouw Chief Executive Officer Asia Pacific Jon McCormick Head of Integrated Facilities Management & Asset Services

As a leader in Cushman & Wakefield, it is my role to ensure our team of experts continue to remain a trusted and strategic partner to Westpac through the delivery of a high-quality and high-touch service solution. For the next iteration of the contract, my goal is to embed a transformation culture across all levels of our operations so that our service delivery solution remains strategic, agile, low risk, and commercially competitive.

Rebecca Yearsley Regional Director

Ray Sharp Senior Account Director

10

Westpac | Cushman & Wakefield

Specialised support through Centres of Excellence Our solution combines the best of client embedded and centralised back of house teams delivering expertise across all streams of service delivery. Our team is driven by innovation and will constantly collaborate and integrate to generate new strategies for cost savings, efficiencies and present untapped opportunities.

Client Focused Resources Supporting Ray, the leadership team, and wider delivery team locally are our Enabling Functions. These groups of specialists are each centres of excellence providing operational benefits and synergies and reinforcing our “CushWake Way” – our standardised and consistent methodologies for service delivery. Best practice is delivered by the enabling function for the account team to implement ensuring continued learning, the delivery of innovations and continuous improvements at all times.

Service Centre of Excellence

Our centralised multi-disciplinary teams of data, property and finance, customer service, and technology, professionals’ partner with our account teams and enabling functions to deliver a fully integrated property services solution. Highly effective workflows and digital playbooks ensure client specific customisation and configuration, combined with flexible resource teams to enable outputs to accommodate clients’ needs.

INTEGRATION Direct connectivity across all functions to enable best practice sharing

SCALABILITY Flexible work teams quickly accommodate client needs

PROCESS Highly effective workflows, proven to increase speed to market

Our service delivery model will remain agile and capable of scaling over time to suit your evolving needs, your changing portfolio requirements and site usage.

12

Westpac | Cushman & Wakefield

Westpac requires a transformative shift in property services, with ongoing continuous improvement. These changes demand refined ways of operating and require implicit client knowledge and awareness combined with flexibility and agility to ensure service continuity. Implementing the enhancements to our service and operational model, is simply continuing the trajectory of evolution we are already on. The work has already commenced. The continued evolution and improvement of our delivery model for Westpac has been an ongoing focus for our organisation, with some of the key changes made recently outlined below .

Cost Savings through self-delivery using C&W Facilities Services Australia of Corporate Handy man and, Retail FM inspections

HVAC - Summer Preparedness presentation and proactive approach ensuring minimal downtime

54,555 Preventative Maintenance work orders and 27,895 Reactive Maintenance work orders

Starting at the Senior Leadership Level, restructured andre-energised the team ensuring that the right people are in the right roles

is well underway Transformation

Streamlining of process through the implementation of CushWake technology

Accenture Lease Audits complete with no negative findings

RECENT SUCCESSES AND ACHIEVEMENTS

National 2023 Operations Conference between Westpac and Cushman & Wakefield with over 100 people in attendance.

Continual financial accuracy and reporting by PwC “based upon our review, the C&W commercial lease management process is well managed with built in controls to mitigate risks”

Focus on Safety and Compliance through the delivery of compliance register for the retail network

$521,451,340 in Rent & Outgoings payments made

C&W ESG team now managing Energy Forecasting and broader sustainability scope including NABERS team providing expert advice and service

Continual wider Westpac stake holder recognition of Group Property customer service delivery emanating from C&W team. Received 56 GEMS in December 2023

Todd O’Rourke won GEM of GEMs in 2023 winning 31 in December 2023

Successful transition by C&W of mechanical, electrical and secure waste services to refreshed providers

14

Westpac | Cushman & Wakefield

Demonstrating our ongoing commitment to technology transformation, Cushman &

Wakefield has implemented the following technology changes and improvements: • Introduction and showcase of Service Request to Group Protective Services • Re-introduction of SWAP as a potential Verified replacement • Delivered Service Request to Westpac and Westpac’s concierge partner including SSO capability • Refreshed service type alignment to better inform reporting • New automated workflow for new user access requests delivering a faster response to new user access requests • Implemented executive focussed dashboard for Westpac Executive team delivering improved insights • Cushman & Wakefield Triana client portal delivered to wider Westpac group property team • Financial crime data integrated with dashboard reporting displaying review dates and risk ratings against landlords/entities

Our plan and commitment for the future as Westpac Group’s property services provider

16

Westpac | Cushman & Wakefield

Digital Transformation

Westpac will receive a consultative approach to technology, bringing a set of best-in-class and integrated software as a service (SAAS) applications whilst being able to augment client investments in their own technology.

of cloud-based technologies and platforms that enable us to deliver faster, more efficient, and more scalable solutions for Westpac.

Our focus is to ensure our digital transformation is curated to deliver custom outcomes to suit Westpac’s business strategies. One of the key aspects of our digital transformation is the adoption

YEAR 1

YEAR 2

YEAR 3

YEAR 4 & 5

REVIEW AND EXPAND USE OF TANGO ACROSS THE RELATIONSHIP

AREA

TECHNOLOGY

PRIMARY: Tango SUPPORTING: Triana, GIS Mapping, Strategy Dashboarding, SmartHub

• Virtual Touring • GIS Mapping • AI Valuations

DIGITAL LIVES Metaverse, Online Services, Augmented Reality.

• Brokerage ChatBots • Availability information readily available • Automated office and branch designs

Property Transaction Management

• Blockchain

negotiations/ buying

• Digital IFM / Smart Buildings Pilot • Switch Automation Implementation • Review of FM Technology

• Technology • AI Lease Audit • AI Lease Abstraction

PRIMARY: Facility Assist, SWAP, Verify, JDE SUPPORTING: Fulcrum, Triana DRAW NOTE: Service now integration

• Digital IFM/ Smart Buildings Wider rollout. • AI Lease Reading

• Drone

Property and Facilities Management

Inspections • Security Bots • Cleaning Bots

AUGMENTED REALITY (AR) AND VIRTUAL REALITY (VR) AR and VR applications will expand beyond their current use into training and remote collaboration.

• Digital Twins of new build

PRIMARY: JDE SUPPORTING: Anaplan, SpendAnalytics, Converga

Financial Management

• Review replacement of Converga • Replacement of Anaplan

AI REVOLUTION AI to become a norm across everything we do.

Project Management

• Carbon Calculation • Machine generated design

PRIMARY: ePMO, Procore

• BIM Integration

• Digital Twins

SUSTAINABILITY ADVANCED It will become everyone’s responsbility to take sustainability efforts to the next level. 5G MASS ADOPTION With the predicted widespread adoption, a new generation of technology will transform business in how we get to work and move goods. QUANTUM COMPUTING Quantom computing is likely to revolutionise the way we work with data and processes allowing for faster research and optimisation of our services. ROBOTICS With the advancements in Robotics, we see our facilities management delivery changing drastically with cost effective and productive robotics

Environmental Management

• Jupiter Intelligence • Greenhouse Gas accounting

PRIMARY: Envizi, Optima Technology

PRIMARY: Serraview SUPPORTING - Appspace, Qtrak

• Serraview Engage Rollout • Workplace Experience App advisory exercise

Workplace Ser vices

• Serraview Live Rollout • Wellness tracking

• Workplace Experience Survey

Data Insights and Reporting

PRIMARY: Triana Analytics

• Triana Relaunch & Refresh of dashboards

• Data Analysis and predictive analytics

• Integration of AI

• Automated AI reading of all relevant documents in SharePoint .

Document Management

PRIMARY: Triana Collaboration (SharePoint)

Workflow Management

PRIMARY: Triana Workflows + System level workflows

• Digital Playbook Implementation • Critical Workflows created

• Continued build of workflows

• Refresh of workflows

Service Request Management

PRIMARY: C&W Facility Assist

• Integration to Westpac Service Now

• New Service Request App

18

Westpac | Cushman & Wakefield

Ensuring seamless data quality through a singular portal — Triana

Throughout our proposal we have demonstrated this approach in a short term (immediate) and long term (5-year) roadmap with decision points to be agreed with Westpac.

To ensure simplification of the technology stack as well as maximising Westpac’s capital investment, we have suggested an ongoing review of the functionality within Tango Analytics to move closer to Westpac’s desire to have one system to manage the multiple service lines in scope. Cushman & Wakefield’s experience and strategic relationship with Tango Analytics will support this direction. Our global Digital Advisory team, identify emerging technology and pair it with partnerships for clients and service lines. Through their market knowledge and operational and technical expertise, they will be best placed to review the opportunity for Westpac to double down on tech products you already have an investment in.

Through this digital transformation, we aim to deliver innovative and value added solutions that meet Westpac's current and future needs and support its strategic objectives and vision whilst ensuring minimal risk in transitioning to new platforms. To show our commitment to this future roadmap we have included a Technology Client Care Manager, based in Sydney, who will be responsible for the strategic implementation and delivery of our digital transformation roadmap as well as supporting BAU technology delivery, ensuring a focussed continuous improvement effort specific to technology.

goals of the operations and technology offering being simplified, standardised and digitalised. Cushman & Wakefield’s PIMS encompasses different, service specific modules for Property Management, Facilities Management, Financial Management and other service areas. These systems are fit for purpose for these services and have been built to effectively communicate with each other. They are underpinned by a common data warehouse, with reporting, data and analytics available to our clients consistently from all systems, via Triana.

Triana is Cushman & Wakefield’s client portal and provides Westpac real-time access to data and analytics regarding your assets, PM, FM, Workplace and Projects service delivery, performance reporting and productivity. Triana is the core of our Property Information Management System (PIMS) integrating systems to draw together portfolio data, market benchmark data and project information in a single online portal. Integration and data are key to the success of our technology strategy and therefore significant investment has been made into our Enterprise Service Bus (ESB) which can give confidence to Westpac in our ability to meet Westpac’s

20

Westpac | Cushman & Wakefield

The Westpac Group is currently undergoing significant change. A successful transformation is critical to ensuring continuity of service delivery with minimal disruption for Westpac, your staff, and for your customers. Cushman & Wakefield will continue to bring the transformation Westpac is seeking, backed by an in-depth understanding of your portfolio significantly reducing transition risk and timing. While some changes are already underway, to continue the transformation, we will undertake a rigorous change management process to ensure all stakeholders are engaged and that the desired outcomes are achieved. It is our aim to deliver the new services within three months. Mitigating any disruption to service continuity, Cushman & Wakefield is the only provider who can deliver the advantages of deep knowledge and experience of your organisation and operations, with the commitment and a plan of improved services at lower

cost, resulting in an enhanced customer experience, with significantly lower transition risks with faster speed to achieve than those involved in onboarding a new provider. As the sole provider that can offer you a seamless mobilisation to your new contract with no fee, no risk, and no disruption to your staff and customers . We will leverage our existing knowledge of your portfolio, our proven processes, and our skilled resources to transform your services and provide you with ongoing value and innovation through: • Our proposed transformation program and ongoing optimisation framework supporting ongoing improvement. • The refreshed service delivery team will leverage our existing knowledge of Westpac to deliver a high level of support to ongoing operations. • Our dedicated transformation team will lead change management, implement our new technology stack and implement new processes. Cushman & Wakefield is ready to support Westpac during this change, ensuring our partnership is delivering Sustainable Commercial Outcomes for both parties.

implementation service by a dedicated team Transformative

Westpac | Cushman & Wakefield

Organisations face the challenge of preparing for a different future, one that is dynamic, engaging and meets the needs of a diverse workforce each with different preferences. Now more than ever, organisations need to engage with their workforce in a planned and orderly way, as the workplace consists of several locations, home, the traditional workplace and third spaces. Westpac’s dedication to providing an agile workplace shows the innovation in supporting the development of hybrid working, providing a solution that adjusts and supports the changing needs of your employees. This environment motivates and inspires your employees to create better futures for themselves and your customers. You have recently started a journey — the agile working framework — to improve your office offering, aligning to an agile working methodology activating your workforce to be productive no matter where they are located. Cushman & Wakefield understands that Workplace Management Services are vital to enabling corporate strategies t hat allow working flexibly through effective use of space, smooth churn management, and delivery, execution and administration of the agreed workplace plans and solutions. As such, we are excited about extending our partnership and developing your Workplace, supporting your hybrid working methodology and enabling Westpac employees at all levels to perform.

creating agile spaces to empower and inspire Westpac’s Bank Now Journey

24

Westpac | Cushman & Wakefield

As your long-term partner, we understand the importance of delivering value for money savings to you, both immediately and for the life of the contract. Commencement of your new financial year with immediate savings through early mobilisation of new contract Based on our expertise and experience on your portfolio combined with our existing resource capability we are in the strongest position to mobilise your new contract by 1 October 2024 — delivering you a low risk solution with immediate savings. No Transition or Transformation cost As the incumbent and long term partner of Westpac, we will absorb any costs for our transformation resulting in zero transition/transformation fee for Westpac. Partnership fee reduction in 2023/2024 financial year In recognition of our long-term partnership with Westpac, and in order to accelerate fee reductions in line with our proposal, Cushman & Wakefield would like to offer Westpac a reduction of $1 million on the fee of our current contract, upon the execution of a new agreement. The reduction would apply to Westpac’s 23/24 financial year (as detailed in our pricing response).

Innovation Fund We recognise that continuous evolution and innovation are critical. As such, as part of our offer, Cushman & Wakefield proposes an innovation fund that can be used for mutual innovation that enhances service and outcomes for Westpac — throughout the new contract term. Cushman & Wakefield will make available up to $1 million over the initial five year term, with up to $200,000 being accessible annually. Technology Optimisation Through review of technology products currently held by Westpac, we are confident of being able to deliver additional savings and simplification through the rationalisation of these products (once the end of the current contract term is reached) into products available through C&W’s tech stack. Westpac Foundation Through procurement of property services, we will leverage social enterprises and community networks who are part of the Westpac Foundation to further support and direct spend into these organisations. C&W currently have 8 of the organisations Westpac’s Social Impact Report and their Foundation website reference as part of our diverse supply chain today. Additionally, C&W will divert up to 5% of our own, in-house spend to organisations who are a part of the Westpac Foundation.

solution based on a stable partnership that will also deliver immediate cost savings and efficiencies A risk free

26

Westpac | Cushman & Wakefield

WESTPAC CONTRACT OBJECTIVES AND PRINCIPLES

Achieve a high standard of performance of the Services in terms of: • Quality • Improved efficiency • Accuracy • Consistent timeliness and • Certainty of delivery Using our expertise, technologies, processes, playbooks, performance metrics, and communication we will continue to optimise our performance and productivity. This includes leveraging our history with Westpac to provide the most effective and innovative solutions. Regular meetings are held to monitor and measure our performance against key performance indicators and metrics, identify and resolve any issues or challenges that may arise, and communicate with the client regularly and transparently.

Ensure it meets or exceeds Westpac’s financial, operational, sustainable supply chain management, environmental management and workplace health and safety goals for the Services. We are committed to providing you with a superior service experience that delivers on your needs and expectations. We understand that you value convenience, simplicity, and reliability when you interact with us. That’s why we have designed our services to be easy to use, secure, and accessible.

Explore and propose alternative delivery methods that are innovative and provide flexibility, efficiencies and economies of scale.

Display, through the Services, the Westpac ‘Service Promise’ to provide a superior service experience that delivers quality solutions for Westpac’s customers, communities and people. We are committed to providing you with a superior service experience that delivers on your needs and expectations. We understand that you value a risk free and transformative solution that is based on simplicity, and reliability. Our service promise is based on our four values: inclusivity, drive and agility, collaboration and insights and innovation.

Embody Westpac’s values: • Delight customers • One team

• Integrity • Courage • Achievement

Service delivery is a key aspect of any company’s performance and customer satisfaction. It is important to explore and propose alternative delivery methods that are innovative and provide flexibility, efficiencies and economies of scale. The proposed delivery model for this contract has a mix between on and offshore resources enabling efficiencies, savings and scalability.

We believe over the past 19 years, our business partnership with Westpac is based on trust, honesty, openness, transparency, effective communication, and close collaboration — factors most conducive to mutually successful outcomes. We embody these values as follows: • To delight our customers, we need to understand their needs, preferences, and goals, and provide them with solutions that meet or exceed their expectations. • One team: we collaborate and cooperate with our colleagues and clients, and foster a culture of trust and respect and currently our onsite team align their goals and actions with those of Westpac to surprise and delight. • To act with integrity , we need to be honest and ethical in our dealings with our customers, colleagues, and stakeholders, and uphold the highest standards of professionalism and compliance. • To show courage , we need to embrace change and innovation, and have the courage to speak up when we make mistakes and challenge the status quo. • To achieve our goals, we need to deliver results and celebrate our achievements, and recognise and reward our people for their performance.

C&W SOLUTION TO MEETING YOUR OBJECTIVES AND PRINCIPLES 28

Cushman & Wakefield will support Westpac’s values and contract objectives by working as one team in accordance with both our values .

Westpac and Cushman & Wakefield have a unique history and an aligned culture. We value and develop both our internal workforce and external supply partnerships, invest in technology and are geared towards the transformation of our trusted long-term partnership with agility to evolve into the future. Through experience, we understand the compliant nature of your portfolio and the expectations of your stakeholders.

Our people will continue to engage with Westpac with clarity and transparency nurturing our partnership based on collaboration, trust, and seamless service delivery. The new contract term allows Cushman & Wakefield to embed practices we have developed in partnership with Westpac, with its focus on simplification and engagement, and the latest technology for improved sustainability and efficiency. Most importantly, our offer reflects continuing value from a trusted and proven partner. We are confident that our solution will meet and exceed Westpac’s expectations and deliver value-added outcomes for your organisation and look forward to discussing our proposal in more detail and demonstrating why Cushman & Wakefield is the best partner

one team, one culture One Partner

for Westpac’s property transformation journey.

30

Westpac | Cushman & Wakefield

ABOUT CUSHMAN & WAKEFIELD Cushman & Wakefield (NYSE: CWK) is a leading global commercial real estate services firm for property owners and occupiers with approximately 52,000 employees in nearly 400 offices and 60 countries. In 2023, the firm reported revenue of $9.5 billion across its core services of property, facilities and project management, leasing, capital markets, and valuation and other services. It also receives numerous industry and business accolades for its award-winning culture and commitment to Diversity, Equity and Inclusion (DEI), sustainability and more. For additional information, visit www. cushmanwakefield.com.

Matthew Bouw Chief Executive Officer Asia Pacific

Jon McCormick Head of Integrated Facilities Management & Asset Services

Rebecca Yearsley Regional Director