$1b Recovery Plan

Expenditure detail - compared to Pre-COVID/FY19 Fuel down 52% Reduced consumption due to COVID-related travel restrictions • Higher AUD jet fuel prices vs FY19 Manpower and staff-related down 28% Decreased due to rightsizing and restructuring as part of the Recovery Plan program Aircraft operating variable (AOV) costs down 42% • Reduction in passenger service charges, route navigation, landing fees, engineering and maintenance costs, passenger expenses, and other variable costs due to decreased flying Depreciation and amortisation down 7% 16.4 Expenditure² ($B) -35% 10.7 • Exit of 747-400 fleet and impairment of A380s reducing depreciation in FY22 partially offset by higher depreciation due to introduction of 787-9 fleet vs FY19 FY19¹ FY22 • Amortisation reduced in FY22 versus FY19 due to the adoption of IFRIC Cloud Computing decision¹; more IT costs recognised directly in operating costs Other expenditure down 29% • Reduced commissions expense due to reduction in activity • Reduction in capacity hire related to overall activity reduction Passengers ('000) ASKS (m) 151,430 (62%) 55,813 21,257 (67%) 50,633 • Partially offset by an increase in share of net losses from associates 1. FY19 has not been restated for the adoption of IFRIC Cloud Computing decision. 2. All expenditure is presented on an Underlying basis which excludes other items not included in Underlying PBT. 10

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