Investor Presentaiton

QANTAS INTERNATIONAL Scorecard Strategic priorities are being delivered PROGRESS TO DATE OPERATIONAL EXCELLENCE WORLD RENOWNED CUSTOMER EXPERIENCE FLYING DIRECT TO INTERNATIONAL DESTINATIONS OUR PARTNERS PROVIDE CONNECTIONS TO THE WORLD OUR PEOPLE AND CULTURE Qantas International Transformation on track to deliver >$800m in benefits by FY17 Non-fuel unit cost improved by 15%¹ since FY12 Aircraft utilisation increase of 5% in FY15 ²- further growth in FY16 PROS implementation to deliver new 'O&D'³ opportunities Deeply embedded culture of safety Year on year improvement in NPS New economy meal, investment in lounge footprint (SIN, HKG, LAX)4, new A330 business suite investment on Asian routes Service and culture training across all customer touchpoints Japan network enhancement, right size PER/SIN5 operations Optimise increased flying to North America, seasonal flying during peaks (e.g. ski seasons and Chinese New Year) Expanded partnerships with American Airlines, WestJet, Bangkok Airways, China Eastern and China Airlines MAKE THE DIFFERENCE Effective communication and engagement through major business transformation 1. Non fuel unit cost calculated as Underlying EBIT less total revenue and fuel, adjusted for changes in foreign exchange rates per ASK 2.Based on average block hours per aircraft. FY15 forecast versus FY14. 3. Origin and Destination. 4. Singapore, Hong Kong and Los Angeles. 5. Perth/Singapore. 151

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