Annual 
       Review 
       2021
       National Australia Bank Limited 
       ABN 12 004 044 937
                 About this report
                 We are continuing to improve our reporting, so that
                 our customers, colleagues and shareholders can 
                 find and use information about our business 
                 strategy and performance.
                 This report
                 Our 2021 Annual Review provides information on the Group’s activities and performance 
                 during 2021. It aims to show how we are creating value through our strategy, operating 
                 environment, governance and financial and non-financial activities.
                 Integrated reporting
                 The preparation of this report is guided by the Integrated Reporting Framework (IRF). We 
                 support the principles outlined in the IRF as they align with long-term value creation. In 2021,
                 following engagement with our stakeholders, we have brought the Annual Review together 
                 with the disclosures previously made in our Sustainability Report.
                 Scope and content
                 Unless otherwise stated, all the information included in this report and accompanying 
                 Sustainability Data Pack (the ‘Data Pack’) covers NAB’s performance for the year ended 30 
                 September 2021.
                 The content of this report was shaped by consulting a range of stakeholders, including 
                 customers, colleagues, shareholders and the community through our materiality process, 
                 described on page 4.
                 Sustainability data pack
                 We recognise the importance of, and increasing stakeholder reliance on, environmental, 
                 social and governance (ESG) data. In addition to the material themes in this report, we 
                 continue to separately publish a quantitative Sustainability Data Pack which provides a 
                 comprehensive update on our ESG performance.
                 NAB Annual Review 2021   Page 2 
                  
                 Reporting suite documents
                 Our 2021 Annual Financial Report includes the Report of the Directors, together with the 
                 financial statements of the Group for the year ended 30 September 2021. 
                 The Report contains information prepared on the basis of the Banking Act 1959 (Cth), 
                 Corporations Act 2001 (Cth), Accounting Standards and Interpretations issued by the 
                 Australian Accounting Standards Board and Financial Reporting Standards and 
                 interpretations issued by the International Accounting Standards Board. 
                 Our 2021 Corporate Governance Statement describes NAB’s approach to corporate 
                 governance and complies with the ASX Corporate Governance Council’s Principles and 
                 Recommendations (4th edition). NAB is here to serve customers well and help our 
                 communities prosper. Our Board, our leaders and colleagues work to deliver industry 
                 leading, sustainable outcomes for our customers, shareholders and the broader community. 
                 NAB’s strategic ambition and how we work is supported by good corporate governance.
                 NAB’s Results and Pillar 3 Report includes our Full Year Results including Management 
                 Discussion and Analysis, and our Pillar 3 Report, which describes the approach we take to 
                 manage risk, and provides detailed information about risk exposures, capital adequacy and 
                 liquidity.
                 > Quick link: Our 2021 Annual Reporting Suite 
                 (https://www.nab.com.au/annualreports)
                 NAB Annual Review 2021   Page 3 
                  
                 Stakeholder engagement
                 Effective stakeholder engagement allows us to 
                 understand what is expected of us, identify issues 
                 and discover opportunities to improve.
                 Our approach to stakeholder engagement is set out in our Social Impact Policy and informed
                 by the AA1000 Stakeholder Engagement Standard. In all interactions, we aim to be 
                 respectful, responsive, open and authentic in our engagement with stakeholders.
                 Our main stakeholders include:
                                                  Customers.
                                                  Colleagues.
                                                  Shareholders, investors and analysts.
                                                  Partners.
                                                  Industry bodies, associations, regulators and government.
                                                  Non-government organisations (NGOs) and our community 
                                                   partners.
                 Key engagement activities this year have included:
                                                  Ongoing engagement activities with stakeholder groups 
                                                   regarding our response to natural disasters.
                                                  Proactive, frequent engagement with all stakeholders 
                                                   regarding the impacts of, and our response to, COVID-19.
                                                  Engagement with industry bodies and associations on public 
                                                   policy issues including energy and environment policy, climate 
                                                   change, biodiversity, cyber security and privacy, financial 
                                                   health, and vulnerability, as well as sustainable finance and 
                                                   responsible banking.
                                                  Continued engagement in industry projects through the Fintel 
                                                   Alliance, including in relation to the human impacts of modern 
                                                   slavery and other human rights abuse risks.
                 Our materiality process
                 A key part of our engagement with stakeholders is our annual materiality review. It identifies 
                 the important ESG themes that shape our business and impact our community. This year we
                 engaged with a range of stakeholders including the investment community, NAB leaders and
                 more than 1,400 personal and business customers to help determine and validate the ESG 
                 issues we should report and focus our attention on.
                 The review involves four stages:
                                                  Identification
                                                  Prioritisation
                                                  Validation
                 NAB Annual Review 2021   Page 4