Investor Presentaiton

Product highlights: Fixed - Enterprise NAS growth offsetting DAC declines¹ Revenue/$m EBITDA/$m DAC NAS DAC NAS 4000 800 3000 Fixed - Enterprise revenue decline -0.7%¹ 600 2000 1000 Including NAS revenue growth +4.6%¹ 400 200 0 0 FY21 FY22 FY21 FY22 Data & connectivity (DAC) revenue decline $m 1200 1100 1000 900 FY21 -13.3% NAS EBITDA growth $m ARPU reduction from competition (incl. nbn) and tech change 400 Strong contract renewals of our 300 government and enterprise 200 customers. T-Fibre churn largely confined to mid-market/business Return to growth challenged 100 0 FY22 FY21 +93.8% FY22 T Fixed - Enterprise EBITDA growth +2.3% or $15m Including NAS EBITDA growth +$152m Security, Cloud, IoT, professional & managed services growth offset legacy and calling declines Timing of revenue recognition linked to key contract milestones Strong cost management Mid-teens margin ambition by FY25 1. Excludes $32m in FY22 of NAS Professional services income contribution from acquisitions. Including acquisitions NAS revenue +5.8% and Fixed - Enterprise revenue +0.1%. Page 10 Copyright Telstra Telstra August 2022 Debt Investor Presentation

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