In response to an open letter sent to NAB on 31^st May 2021 by the Australian Conservation Foundation (ACF), Australasian Centre for Corporate Responsibility (ACCR), 350.org and other organisations:

• As announced in November 2020, NAB committed to a review of its oil and gas financing by September 2021.
• This review is underway. We anticipate releasing outcomes of the review later this year.
• We are taking into account the International Energy Agency’s (IEA) Net Zero by 2050: A Roadmap for the Global Energy Sector in the context of this review.
• NAB’s Executive Leadership team has met to consider the findings of this report.