Investor Presentaiton

1 Update on Corporate Restructure Telstra's proposed legal structure Telstra shareholders would receive one new Telstra Group Limited Share for each of their existing Telstra Shares. Telstra Group Limited Intercompany agreements developed Telstra Limited InfraCo Fixed Telstra International Amplitel (51% share) ✓ On track to finalise legal restructure pending shareholder and court approval. The Scheme Booklet that has been published gives shareholders relevant information ahead of the shareholder vote at the Scheme Meeting to be held on the same day as our AGM (11 October). Dividends and debt servicing will continue to be supported by the assets and income of the broader Telstra Group. We remain committed to our Capital Management Framework. No change to group debt levels is anticipated as a result of the restructure Unless you are an Ineligible Foreign Shareholder - see section 6.4 of the Scheme Booklet for more information ✓ We have a demonstrated long track record of appropriately balancing debt holder interests. In considering potential future transactions we would continue to have regard to impacts on the interests of debt holders. Page 17 Copyright Telstra T Telstra August 2022 Debt Investor Presentation

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