Investor Presentaiton

Inflation and mitigants Actively addressing cost challenges with mitigants Operating expenses FY22 Components $b 8 6 Network Payments • Sales costs nbn payments $2,081m 4 Hardware COGS • Sales costs - other $6,039m 2 Other sales 0 $b 8 CO 6 - Fixed costs underlying $5,139m • Labour/Subs 4 Fixed costs - other $1,039m 2 SC&A Energy Other 0 Underlying $14,298m T Network payments generally not inflationary and largely pass through Hardware COGS largely pass through Other sales including NAS cost of sales with some inflationary pressure but largely pass through. Also includes largely historic commissions • Labour/Labour substitution. Enterprise Agreement for wages. FY22 +82 employee engagement score Service contracts & agreements (SC&A). Inflationary but partially contracted Energy costs FY22~$250m. Substantive protection through Power Purchase Agreements. Other including property, IT, promotion, advertising, travel, entertainment, bad debt-inflationary but partially discretionary Revenue $5b of mass market mobile services - price increase inline with CPI + annual price review • $0.9b nbn receipts indexed to CPI Ongoing assessment of pricing Other costs include fixed components • $0.8b leases. Average contracted term 8 years with majority fixed contracted increases rather than CPI. Also optimising portfolio $0.4b net finance costs. ~65% of debt fixed. +100bps = --$20m NPAT impact in FY22 Page 13 Copyright TelstraⒸ Capex • ~75% subject to inflationary pressure, remainder protected by contracts and EA Committed to envelope. In year we may make trade-offs and adjust timing Telstra August 2022 Debt Investor Presentation

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