Investor Presentaiton

Maintaining an optimal capital structure Total liquidity sources >$10B ~$3.2B cash balance + ~$1.2B committed undrawn facilities + >$5.6B unencumbered assets Liquidity Total sources of liquidity >$10b comprised of $3.2b cash2, $1.2b committed undrawn facilities³ and >$5.6b4 unencumbered asset base - Unencumbered assets include $4.1b of unencumbered aircraft (~62% of the Group fleet 5), spare engines and other assets Debt maturity profile¹ as at 30 June 2023 ($M) Gross Debt Structure Transactions in 2H23 - Extended tenor by refinancing committed unsecured facilities up to 7 years 400 250 456 350 500 300 419 558 200 • 375 201 206 188 177 166 168 214 25! 27. FY24 FY25 FY26 FY27 FY28 FY29 FY30 FY31 FY32 FY33+ Secured amortising debt Bonds Corporate secured debt program QANTAS GROUP Syndicated loan facility - Drawn - Secured cost effective financing for recent Boeing 787-9 deliveries ― Reduced exposure to expensive operating leases Balance Sheet settings - Minimal refinancing risk across maturity profile - • Flexibility to prepay secured debt and unencumber assets No financial covenants • Moody's (Baa2] "stable" investment grade credit rating 1. Cash debt maturity profile excluding leases. 2. Includes cash and cash equivalents as at 30 June 2023. 3. Includes secured aircraft financing on Boeing 787-9 delivery which was drawn down on 24 July 2023. 4. Includes aircraft valuations based on the Aircraft Value Analysis Company Limited (AVAC) as at 30 June 2023. 5. Based on number of aircraft as at 30 June 2023. FY23 Results | 22

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