Westpac Executive-Summary

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


Westpac | Cushman & Wakefield

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