$1b Recovery Plan

Reconciliation to Underlying (Loss)/Profit Before Tax $M FY22 Pre-COVID FY192 Statutory Items not included in Underlying Underlying¹ Statutory Items not included in Underlying Underlying¹ Net passenger revenue Net freight revenue Other revenue Total Revenue Manpower and staff-related 5,951 5,951 15,696 15,696 1,963 1,963 971 971 1.194 1,194 1,299 1,299 9,108 9,108 17,966 I 17,966 3,024 3,024 4,268 (58) 4,210 Aircraft operating variable 2,328 [13] 2,315 4,010 [2] 4,008 Fuel 1,848 1,848 3,846 3,846 Depreciation and amortisation. 1,801 1,801 1,996 (60) 1,936 Share of net loss/(profit) of investments accounted for under the equity method Impairment/[reversal of impairment) of assets and related costs 126 126 [23] [23] 35 3 38 (39) 39 De-designation of fuel and foreign exchange hedges [22] I [22] Redundancy and related costs 5 (1) 4 65 (65) Net gain on disposal of assets Other Total Expenditure EBIT (692) 686 [6] (225) 192 [33] 1,545 (7) 1,538 2,594 [180] 2,414 9,998 668 10,666 16,492 (134) 16,358 (890) (668) (1,558) 1,474 134 1,608 Net finance costs (Loss)/Profit Before Tax 301 (1,191) 301 282 282 (668) (1,859) 1,192 134 1,326 1. Underlying (LBT)/PBT is a non-statutory measure and is the primary reporting measure used by the Chief Operating Decision-Making bodies, being the Chief Executive Officer, Group Management Committee and the Board of Directors, for the purpose of assessing the performance of the Qantas Group. All items in the FY22 Results Presentation are reported on an Underlying basis unless otherwise stated. 2. FY19 has not been restated for the IFRIC Cloud Computing decision. | 7

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