Exhibit 1

ASX Release 23 April 2024 Westpac’s First Half 2024 (1H24) Notable Items and Reporting Changes 1H24 Notable Items Westpac’s reported net profit after tax in 1H24 will be reduced by $164 million due to Notable Items. All Notable Items relate to unrealised fair value gains and losses on economic hedges and net ineffectiveness on qualifying hedges, which reverse over time. A summary of the impacts is included in Appendix 1. 1H24 Reporting Changes Operating segments have been restated following the establishment of separate Consumer and Business & Wealth operating segments and the dissolution of the Specialist Businesses operating segment. Other changes to enhance operating segment financial reporting and assessment include: • Funds transfer pricing refinements, revised capital allocations and enhanced operating expense allocations from Enterprise functions; • Changes in classification of some deposit products from interest bearing to non-interest bearing; and • Revisions to the methodology used to classify credit quality. These changes do not impact the Group’s net profit after tax (NPAT) or the composition of line items at the Group level. A summary of the restatements is included in Appendix 2. Half Year 2024 results are scheduled to be announced on Monday, 6 May 2024. For further information: Hayden Cooper Justin McCarthy Group Head of Media Relations General Manager, Investor Relations 0402 393 619 0422 800 321 This document has been authorised for release by Tim Hartin, Company Secretary. Level 18, 275 Kent Street Sydney, NSW, 2000

Appendix 1 – Summary of 1H24 Notable Items 1H24 ($m) Asset sales and revaluations Provisions for litigation, fines and penalties Restructuring costs Asset write-downs Hedging items Total Net interest income - - - - (224) (224) Non-interest income - - - - (2) (2) Net operating income - - - - (226) (226) Operating expenses - - - - - - Pre-provision profit - - - - (226) (226) Income tax benefit/ (expense) - - - - 62 62 Net profit/(loss) - - - - (164) (164) 1H24 ($m) Consumer Business & Wealth WIB New Zealand (A$) Group Businesses Total Net interest income - - - (6) (218) (224) Non-interest income - - - - (2) (2) Net operating income - - - (6) (220) (226) Operating expenses - - - - - - Pre-provision profit - - - (6) (220) (226) Income tax benefit/ (expense) - - - 2 60 62 Net profit/(loss) - - - (4) (160) (164)

1.5.1. Net interest income Half Year Half Year Half Year March Sept March 2024 2023 2023 Net interest Income ($m) Net interest income 9,204 9,113 Core net interest income 8,702 8,817 Notable Items (8) (89) Treasury 424 305 Markets 86 80 Average interest earning assets ($m) Loans 709,756 699,735 Housing 488,551 481,538 Personal 12,628 13,485 Business 208,577 204,712 Liquid assets 213,439 208,467 Other interest-earning assets 25,310 26,006 Average interest earning assets 948,505 934,208 NIM (%) NIM 1.94% 1.96% Core NIM 1.83% 1.89% Treasury & Markets impact on NIM 0.11% 0.09% Notable Items impact on NIM - (0.02%) 1.5.4. Deposits and other borrowings As at As at As at 31 March 30 Sept 31 March $m 2024 2023 2023 Customer deposits Australia 557,781 545,090 Transactions 97,950 98,762 Savings 195,273 191,490 Term 144,220 140,704 Non-interest bearing 120,338 114,134 New Zealand (A$) 74,297 74,703 New Zealand (NZ$) 79,783 79,769 Transactions 9,373 10,090 Savings 19,929 20,230 Term 38,472 36,367 Non-interest bearing 12,009 13,082 Other overseas (A$) 8,873 7,792 Total customer deposits 640,951 627,585 Certificates of deposit 47,217 48,767 Australia 32,947 32,227 New Zealand (A$) 2,247 2,618 Other overseas (A$) 12,023 13,922 Total deposits and other borrowings 688,168 676,352 Appendix 2 - Selected comparative disclosures

2.1. Consumer The Consumer segment provides a full range of banking products and services to customers in Australia through three lines of business consisting of mortgages, consumer finance and deposits. Products and services are provided through a portfolio of brands comprising Westpac, St.George, BankSA, Bank of Melbourne and RAMS using digital channels and branches. Half Year Half Year Half Year March Sept March $m 2024 2023 2023 Net interest income 3,866 4,311 Non-interest income 251 273 Net operating income 4,117 4,584 Operating expenses (2,307) (2,145) Notable Items (202) - Total operating expenses (2,509) (2,145) Pre-provision profit 1,608 2,439 Impairment (charges)/benefits (13) (166) Profit before income tax expense 1,595 2,273 Income tax expense and NCI (484) (682) Net profit 1,111 1,591 Notable Items (post tax) (148) - Expense to income ratio (Ex Notable Items) 56.04% 46.79% Net interest margin (Ex Notable Items) 1.76% 2.00% FTE 13,472 14,672 As at As at As at 31 March 30 Sept 31 March $bn 2024 2023 2023 Customer deposits Transactions 32.9 35.4 Savings 154.9 140.0 Term 63.9 64.3 Mortgage offsets 56.6 53.8 Total customer deposits 308.3 293.5 Loans Mortgages 485.6 472.7 Other 8.9 9.0 Provisions (1.8) (1.9) Total loans 492.7 479.8 Deposit to loan ratio 62.58% 61.18% Total assets 504.2 491.9 TCE 577.7 567.5 Risk weighted assets 174.7 174.6 Average interest earning assets 438.2 432.2 Average allocated capital 24.0 24.7 Credit quality Impairment charges/(benefits) to average loans 0.01% 0.07% Mortgage 90+ day delinquencies 0.86% 0.73% Other consumer loans 90+ day delinquencies 1.01% 1.26% Total stressed exposures to TCE 0.86% 0.75%

2.2. Business and Wealth The Business and Wealth segment comprises Business Banking, Wealth Management, Private Wealth, Pacific and Auto Finance. Business provides a range of banking services and products to Australian small to medium businesses, including commercial businesses and agribusiness customers. It offers business lending generally up to $200 million in exposure, merchant services using eCommerce solutions and transaction banking services. The segment includes Private Wealth, supporting the needs of high-net-worth individuals, as well as BT Financial Group, which provides wealth management platform services. It also includes Westpac Pacific and our auto finance business, which is in run-off. The segment operates under the Westpac, St.George, BankSA, Bank of Melbourne and BT brands. Half Year Half Year Half Year March Sept March $m 2024 2023 2023 Net interest income 2,573 2,419 Non-interest income 415 429 Notable Items (88) - Net operating income 2,900 2,848 Operating expenses (1,301) (1,244) Notable Items (64) - Total operating expenses (1,365) (1,244) Pre-provision profit 1,535 1,604 Impairment (charges)/benefits (172) (85) Profit before income tax expense 1,363 1,519 Income tax expense and NCI (410) (446) Net profit 953 1,073 Notable Items (post tax) (107) - Expense to income ratio (Ex Notable Items) 43.54% 43.68% Net interest margin (Ex Notable Items) 5.30% 5.03% FTE 6,008 6,170 As at As at As at 31 March 30 Sept 31 March $bn 2024 2023 2023 Customer deposits Transactions 56.5 59.6 Savings 39.6 42.1 Term 44.4 41.1 Total customer deposits 140.5 142.8 Loans Commercial/SME 90.5 87.1 Pacific 1.2 1.1 Auto Finance 2.5 3.3 Business lending 94.2 91.5 Other 3.2 4.0 Provisions (1.9) (1.8) Total loans 95.5 93.7 Deposit to loan ratio 147.08% 152.43% Total assets 101.2 99.3 TCE 129.7 127.6 Risk weighted assets 87.1 88.7 Average interest earning assets 96.8 96.5 Average allocated capital 11.7 10.9 Credit quality Impairment charges/(benefits) to average loans 0.36% 0.18% Impaired exposures to TCE 0.52% 0.63% Total stressed exposures to TCE 5.46% 5.24%

2.3. Westpac Institutional Bank The Westpac Institutional Bank (WIB) comprises three lines of business: Corporate & Institutional Bank (CIB); Global Transaction Services (GTS); and Financial Markets (FM). It services predominantly corporate, institutional and government clients. CIB uses dedicated industry relationship and specialist product teams to support clients’ lending needs. GTS is responsible for the provision of payments and liquidity management solutions to WIB’s clients and the group's domestic and international payments infrastructure. FM provides a range of risk management, investment and debt capital markets solutions to WIB clients and access to financial markets products for consumer and business customers. Clients are supported throughout Australia and via branches and subsidiaries located in New Zealand, New York, London, Frankfurt and Singapore. Half Year Half Year Half Year March Sept March $m 2024 2023 2023 Net interest income 1,019 907 Non-interest income 663 704 Net operating income 1,682 1,611 Operating expenses (679) (619) Notable Items (15) - Total operating expenses (694) (619) Pre-provision profit 988 992 Impairment (charges)/benefits (91) 4 Profit before income tax expense 897 996 Income tax expense and NCI (256) (287) Net profit 641 709 Notable Items (post tax) (10) - Expense to income ratio (Ex Notable Items) 40.37% 38.42% Net interest margin (Ex Notable Items) 1.93% 1.86% FTE 2,776 2,758 As at As at As at 31 March 30 Sept 31 March $bn 2024 2023 2023 Customer deposits Transactions and others 64.2 63.6 Savings 10.5 10.4 Term 41.4 39.5 Total customer deposits 116.1 113.5 Loans Loans 92.9 85.0 Provisions (0.3) (0.3) Total loans 92.6 84.7 Deposit to loan ratio 125.37% 133.95% Total assets 106.3 100.0 TCE 207.4 205.6 Risk weighted assets 82.1 80.2 Average interest earning assets 105.3 98.0 Average allocated capital 9.6 8.8 Credit quality Impairment charges to average loans 0.21% (0.01%) Impaired exposures to TCE 0.04% 0.06% Total stressed exposures to TCE 0.58% 0.28%

2.4. Westpac New Zealand Westpac New Zealand provides banking and wealth products and services for consumer, business and institutional customers in New Zealand. All figures are in NZ$ unless noted otherwise. Half Year Half Year Half Year March Sept March NZ$m 2024 2023 2023 Net interest income 1,267 1,247 Non-interest income 134 127 Notable Items - - Net operating income 1,401 1,374 Operating expenses (662) (624) Notable Items (10) - Total operating expenses (672) (624) Pre-provision profit 729 750 Impairment (charges)/benefits 19 (154) Profit before income tax expense 748 596 Income tax expense and NCI (213) (168) Net profit 535 428 Notable Items (post tax) (7) - Expense to income ratio (Ex Notable Items) 47.25% 45.41% Net interest margin (Ex Notable Items) 2.12% 2.11% FTE 5,288 5,374 As at As at As at 31 March 30 Sept 31 March NZ$bn 2024 2023 2023 Customer deposits Transactions and others 21.4 23.2 Savings 19.9 20.2 Term 38.5 36.4 Total customer deposits 79.8 79.8 Loans Mortgages 65.8 65.2 Business 32.8 32.3 Other 1.2 1.2 Provisions (0.5) (0.5) Total loans 99.3 98.2 Deposit to loan ratio 80.36% 81.26% Total assets 121.8 121.9 TCE 147.1 147.3 Risk weighted assets 60.3 58.6 Liquid assets 19.2 20.5 Average interest earning assets 119.1 118.8 Average allocated capital 8.3 7.5 Total funds 11.4 11.5 Credit quality Impairment charges/(benefits) to average loans (0.04%) 0.32% Mortgage 90+ day delinquencies 0.33% 0.29% Other consumer loans 90+ day delinquencies 0.92% 1.13% Impaired exposures to TCE 0.06% 0.07% Total stressed exposures to TCE 1.49% 1.33%

2.4. Westpac New Zealand (Continued) 2.4.1. Westpac New Zealand segment performance (A$ Equivalent) Results have been translated into Australian dollars (A$) at the average exchange rates for each reporting period, Second Half 2023: $1.0816; First Half 2023: $1.0876. Unless otherwise stated, assets and liabilities have been translated at spot rates as at the end of the period, 30 September 2023: $1.0738; 31 March 2023: $1.0678. Half Year Half Year Half Year March Sept March $m 2024 2023 2023 Net interest income 1,171 1,146 Non-interest income 124 116 Notable Items - - Net operating income 1,295 1,262 Operating expenses (613) (573) Notable Items (9) - Total operating expenses (622) (573) Pre-provision profit 673 689 Impairment (charges)/benefits 18 (142) Profit before income tax expense 691 547 Income tax expense and NCI (196) (154) Net profit 495 393 Notable Items (post tax) (7) - Expense to income ratio (Ex Notable Items)a 47.25% 45.41% Net interest margin (Ex Notable Items)a 2.12% 2.11% a. Ratios calculated using NZ$. As at As at As at March Sept March $bn 2024 2023 2023 Customer deposits 74.3 74.7 Loans 92.5 91.9 Deposit to loan ratioa 80.36% 81.26% Total assets 113.5 114.1 TCE 136.9 137.9 Risk weighted assets 56.2 54.9 Liquid assets 17.9 19.2 Average interest earning assets 110.2 109.3 Average allocated capital 7.7 6.9 Total funds 10.6 10.7 a. Ratios calculated using NZ$.

2.5. Group Businesses The segment comprises: • Treasury, which is responsible for the management of the Group’s balance sheet including wholesale funding, capital, and liquidity. Treasury also manages interest rate risk and foreign exchange risks; • Technology, except for UNITE, these costs are allocated to segments across the Group; • Customer & Corporate Services, which provides shared corporate functions such as property, procurement, finance services, Corporate Affairs, and HR services. Excluding Corporate Affairs, these costs are allocated to other segments across the Group; and • Enterprise services, which includes earnings on capital not allocated to segments, certain intra-group transactions and gains/losses from asset sales, earnings and costs associated with the Group’s fintech investments and other costs including certain customer remediation expenses and centrally held provisions. Half Year Half Year Half Year March Sept March $m 2024 2023 2023 Net interest income 583 419 Non-interest income 6 147 Notable Items 59 132 Net operating income 648 698 Operating expenses (344) (407) Notable Items (170) - Total operating expenses (514) (407) Pre-provision profit 134 291 Impairment (charges)/benefits - (1) Profit before income tax expense 134 290 Income tax expense and NCI (140) (55) Net profit/(loss) (6) 235 Notable Items (post tax) (79) 178 Profit/(loss) attributable to businesses sold 20 111 Treasury Half Year Half Year Half Year March Sept March $m 2024 2023 2023 Net interest income 404 261 Non-interest income 8 6 Notable Items 69 (89) Net operating income 481 178 Net profit 262 54

Note 2. Segment reporting The tables present the segment results for the Group: $m Consumer Business and Wealth Westpac Institutional Bank Westpac New Zealand (A$) Group Businesses Total Notable Items (pre-tax) Income statement Half Year Sept 2023 Net interest income 3,866 2,573 1,019 1,171 583 9,212 (8) 9,204 Net fee income 239 188 301 94 (4) 818 - 818 Net wealth management income - 195 - 17 13 225 (10) 215 Trading income - 26 317 15 (17) 341 (11) 330 Other income 12 6 45 (2) 14 75 - 75 Notable Items - (88) - - 59 (29) 29 - Net operating income 4,117 2,900 1,682 1,295 648 10,642 - 10,642 Operating expenses (2,307) (1,301) (679) (613) (344) (5,244) (460) (5,704) Notable Items (202) (64) (15) (9) (170) (460) 460 - Total operating expenses (2,509) (1,365) (694) (622) (514) (5,704) - (5,704) Pre-provision profit 1,608 1,535 988 673 134 4,938 - 4,938 Impairment (charges)/benefits (13) (172) (91) 18 - (258) - (258) Profit before income tax expense 1,595 1,363 897 691 134 4,680 - 4,680 Income tax (expense)/benefita (484) (409) (256) (196) (139) (1,484) - (1,484) Net profit attributable to NCI - (1) - - (1) (2) - (2) Net profit attributable to owners of WBC 1,111 953 641 495 (6) 3,194 - 3,194 Notable Items (post-tax)a (148) (107) (10) (7) (79) (351) Balance sheet Loans 492,716 95,548 92,568 92,488 (66) 773,254 Deposits and other borrowings 308,342 140,536 116,052 76,544 46,694 688,168 a. Includes tax benefits on Notable Items of $138 million. $m Consumer Business and Wealth Westpac Institutional Bank Westpac New Zealand (A$) Group Businesses Total Notable Items (pre-tax) Income statement Half Year March 2023 Net interest income 4,311 2,419 907 1,146 419 9,202 (89) 9,113 Net fee income 265 172 295 83 12 827 - 827 Net wealth management income - 230 - 16 101 347 - 347 Trading income - 21 375 18 (5) 409 (22) 387 Other income 8 6 34 (1) 39 86 243 329 Notable Items - - - - 132 132 (132) - Net operating income 4,584 2,848 1,611 1,262 698 11,003 - 11,003 Operating expenses (2,145) (1,244) (619) (573) (407) (4,988) - (4,988) Notable Items - - - - - - - - Total operating expenses (2,145) (1,244) (619) (573) (407) (4,988) - (4,988) Pre-provision profit 2,439 1,604 992 689 291 6,015 - 6,015 Impairment (charges)/benefits (166) (85) 4 (142) (1) (390) - (390) Profit before income tax expense 2,273 1,519 996 547 290 5,625 - 5,625 Income tax (expense)/benefita (682) (442) (287) (154) (55) (1,620) - (1,620) Net profit attributable to NCI - (4) - - - (4) - (4) Net profit attributable to owners of WBC 1,591 1,073 709 393 235 4,001 - 4,001 Notable Items (post-tax)a - - - - 178 178 Balance sheet Loans 479,750 93,665 84,697 91,943 (124) 749,931 Deposits and other borrowings 293,508 142,773 113,453 77,321 49,297 676,352 a. Includes tax benefits on Notable Items of $46 million.

Note 3. Net interest income and average balance sheet and interest rates Average balance sheet and interest rates Half Year March 2024 Half Year Sept 2023 Half Year March 2023 Average balance Interest Average rate Average balance Interest Average rate Average balance Interest Average rate $m $m % $m $m % $m $m % Assets Interest earning assets Loans 709,756 19,306 5.4 699,735 16,276 4.7 Housing 488,551 12,186 5.0 481,538 10,174 4.2 Personal 12,628 548 8.7 13,485 556 8.3 Business 208,577 6,572 6.3 204,712 5,546 5.4 Trading securities and financial assets measured at FVIS 31,122 645 4.1 29,044 498 3.4 Investment securities 73,745 1,119 3.0 76,015 918 2.4 Other interest earning assetsa 133,882 2,843 4.2 129,414 2,147 3.3 Total interest earning assets and interest income 948,505 23,913 5.0 934,208 19,839 4.3 Non-interest earning assets Derivative financial instruments 21,566 25,290 All other assets 58,433 58,425 Total non-interest earning assets 79,999 83,715 Total assets 1,028,504 1,017,923 Liabilities Interest bearing liabilities Deposits and other borrowings 551,676 9,966 3.6 537,110 6,952 2.6 Certificates of deposit 50,314 1,122 4.4 45,447 799 3.5 Transactions 113,410 1,805 3.2 117,978 1,423 2.4 Savings 212,281 3,269 3.1 206,042 2,097 2.0 Term 175,671 3,770 4.3 167,643 2,633 3.1 Repurchase agreements 38,003 328 1.7 41,310 228 1.1 Loan capital 35,115 828 4.7 33,649 620 3.7 Other interest bearing liabilitiesb 178,463 3,587 4.0 174,925 2,926 3.4 Total interest bearing liabilities and interest expense 803,257 14,709 3.7 786,994 10,726 2.7 Non-interest bearing liabilities Deposits and other borrowings 130,232 131,113 Derivative financial instruments 22,960 29,765 All other liabilities 503 (943) Total non-interest bearing liabilities 153,695 159,935 Total liabilities 956,952 946,929 Shareholders' equity 71,509 70,947 NCI 43 47 Total equity 71,552 70,994 Total liabilities and equity 1,028,504 1,017,923 Loans Australia 611,790 16,373 5.3 602,493 13,791 4.6 New Zealand 91,507 2,724 5.9 90,605 2,304 5.1 Other overseas 6,459 209 6.5 6,637 181 5.5 Deposits and other borrowings Australia 466,499 7,997 3.4 453,962 5,547 2.5 New Zealand 64,641 1,447 4.5 63,422 1,017 3.2 Other overseas 20,536 522 5.1 19,726 388 3.9 a. Interest income includes net ineffectiveness on qualifying hedges. b. Includes net impact of Treasury balance sheet management activities and the Bank Levy.

Note 10. Credit quality Program-managed portfolio The program-managed portfolio generally includes retail products such as mortgages, personal lending (including credit cards) as well as certain small to medium sized enterprise lending. These credit exposures are grouped into pools of similar risk based on the analysis of characteristics that have historically predicted the likelihood of default, and a PD is assigned relative to the credit exposure's pool. The exposure is then assigned to strong, satisfactory or weak by benchmarking that PD against transaction-managed exposures, which are in turn mapped to external ratings per the above table. In addition, any program-managed exposures that are one or more days past due are classified as weak. The following table shows the credit quality of loans and undrawn credit commitments. As at 31 March 2024 As at 30 September 2023a As at 31 March 2023a $m Stage 1 Stage 2 Stage 3 Total Stage 1 Stage 2 Stage 3 Total Stage 1 Stage 2 Stage 3 Total Loans - housing Strong 291,914 27,447 - 319,361 284,578 30,261 - 314,839 Good/satisfactory 156,836 48,929 - 205,765 155,228 44,137 - 199,365 Weak 2,533 14,178 5,237 21,948 2,375 13,021 4,421 19,817 Total loans - housing 451,283 90,554 5,237 547,074 442,181 87,419 4,421 534,021 Loans - personal Strong 4,318 95 - 4,413 4,347 117 - 4,464 Good/satisfactory 6,097 802 - 6,899 6,552 911 - 7,463 Weak 252 623 192 1,067 273 711 240 1,224 Total loans - personal 10,667 1,520 192 12,379 11,172 1,739 240 13,151 Loans - business Strong 80,177 13,564 - 93,741 74,626 10,691 - 85,317 Good/satisfactory 63,434 52,477 - 115,911 83,629 30,206 - 113,835 Weak 200 5,468 2,914 8,582 196 4,709 3,172 8,077 Total loans - business 143,811 71,509 2,914 218,234 158,451 45,606 3,172 207,229 Undrawn credit commitments Strong 137,275 11,169 - 148,444 140,574 9,038 - 149,612 Good/satisfactory 40,482 15,142 - 55,624 47,842 9,191 - 57,033 Weak 214 1,503 366 2,083 251 1,110 397 1,758 Total undrawn credit commitments 177,971 27,814 366 206,151 188,667 19,339 397 208,403 Total strong 513,684 52,275 - 565,959 504,125 50,107 - 554,232 Total good/satisfactory 266,849 117,350 - 384,199 293,251 84,445 - 377,696 Total weak 3,199 21,772 8,709 33,680 3,095 19,551 8,230 30,876 Total loans and undrawn credit commitments 783,732 191,397 8,709 983,838 800,471 154,103 8,230 962,804 a. In 2024, the Group revised the methodology that it uses to classify program-managed exposures as strong, satisfactory, or weak. This is a change in disclosure methodology and does not represent a change in underlying credit quality of the Group’s credit exposures. Comparatives have been revised accordingly.