Investor Presentaiton

Glossary Available Seat Kilometres (ASK) - Total number of seats available for passengers, multiplied by the number of kilometres flown Cancellation rate - Measured as number of flights cancelled as a percentage of number of flights scheduled (if cancelled or rescheduled less than 7 days prior to scheduled departure time) Capex - Refer to Net Capital Expenditure (Net Capex] Capitalised aircraft lease liabilities - Residual value of capitalised aircraft lease liabilities measured at fair value at the lease commencement date and remeasured over lease term on a principal and interest basis. Residual value of capitalised aircraft lease liability denominated in foreign currency is translated at the long-term exchange rate - CASK Underlying (LBT)/PBT less ticketed passenger revenue divided by ASKS. For a detailed calculation of CASK, please see slide 8 in the Supplementary Presentation EBIT Earnings before interest and tax - EBIT margin (Operating Margin)- Underlying EBIT divided by Total Revenue EBITDA - Earnings before interest, tax, depreciation, amortisation and impairment ESG Environmental, Social and Governance EPS Refer to Statutory EPS FFO Funds From Operations FX Foreign exchange - Invested Capital - Net assets (excluding cash, debt, other financial assets and liabilities and tax balances) including capitalised aircraft lease assets (which includes an adjustment to exclude aircraft lease return provisions from Invested Capital) Net Capital Expenditure (Net Capex) - Net expenditure of investing cash flows included in the Consolidated Cash Flow Statement and the impact to Invested Capital from acquiring or returning leased aircraft. Refer to slide 15 of the Supplementary Presentation for the calculation of Net Capital Expenditure Net Debt - Under the Group's Financial Framework, includes net on Balance Sheet debt and capitalised aircraft lease liabilities Net Debt Target Range - For a detailed calculation of the Net Debt Target Range, please see slide 13 in the Supplementary Presentation Net Free Cash Flow – Cash from operating activities less net cash outflows from investing activities - NPS Net promoter score. Customer advocacy measure Operating Margin (EBIT margin) - Underlying EBIT divided by Total Revenue OTP - On Time Performance (within 15 minutes of departure time) PBT - Profit Before Tax PPTS - Percentage Points QBR Qantas Business Rewards - QFF - Qantas Frequent Flyer RASK - Ticketed passenger revenue divided by ASKS. For a detailed calculation of RASK, please see slide 8 in the Supplementary Presentation Return on Invested Capital (ROIC) - ROIC EBIT for the 12 months ended for the reporting period, divided by the 12 months average Invested Capital. Refer to slide 11 of the Supplementary Presentation for the calculation of ROIC Revenue Passenger Kilometres (RPK) - Total number of passengers carried, multiplied by the number of kilometres flown RRIA Revenue Received in Advance - RRP Recovery and Retention Plan SAF Sustainable Aviation Fuel Seat Factor (Load factor) - Revenue passenger kilometres divided by ASKS SME Small to medium enterprise - Statutory EPS - Statutory Earnings Per Share are calculated as Statutory Profit after Tax divided by the weighted average number of issued shares, excluding unallocated treasury shares. Measured as cents per share Ticketed passenger revenue - Uplifted passenger revenue included in Net Passenger Revenue Total Unit Cost - Underlying (LBT)/PBT less ticketed passenger revenue per ASK TSR Total Shareholder Returns Underlying (LBT)/PBT - a non-statutory measure and is the primary reporting measure used by the Chief Operating Decision-Making bodies, being the Chief Executive Officer, Group Management Committee and the Board of Directors, for the purpose of assessing the performance of the Qantas Group. Refer to slide 7 of the Supplementary Presentation for a reconciliation of Underlying PBT to Statutory PBT. Unit Cost (ex Fuel and Depreciation) - Underlying PBT less ticketed passenger revenue, fuel and share of profit/(loss) of investments accounted for under the equity method and non-cash impact of discount rate changes on provisions, excluding depreciation and impairments per ASK Unit Revenue - Ticketed passenger revenue per ASK WACC - Weighted average cost of capital RQANTAS GROUP FY23 Results 30

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