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Investor Presentaiton

QANTAS INTERNATIONAL Looking to the Future Earn the right to grow and invest STRICT PARAMETERS FOR REINVESTMENT BASED ON SUSTAINABLE RETURNS • $1b debt pay down by end FY15 Group Financial Priorities • Capital management objectives Sustainable and Resilient Business • • Competitive Business Case All Transformation targets met Increasing revenue Business case requires a certain cost base to deliver sustainable ROIC > WACC target • Includes productivity outcomes 135

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