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Investor Presentaiton

2021 INVESTOR DAY Bulk market opportunity Bulk accounts for 32% of above rail revenue - new bulk markets are not correlated to coal demand and provide the potential to double Bulk's EBIT over ten years ESTIMATED MARKET SIZE: $1.25BN in 2030 OUR ASPIRATION TO ACHIEVE 20-25% MARKET SHARE WOULD IMPLY $250-300M AURIZON BULK EBIT1 > Bulk Rail Market Traditional Aurizon market › Strong presence in WA and QLD › Additional addressable volumes have increased estimated market size by ~$100m > Aurizon's market share ~33% Estimated market EBIT $350m + New Markets Customers want end-to-end solutions > Value from integration in a fragmented market › Significantly larger than rail: Road and Coastal Shipping to support Rail Port Services Rail Maintenance Estimated market EBIT $600m + 1. Market share opportunities assume Aurizon secures a portion of an available range of organic and inorganic growth. There are no guarantees that Aurizon will secure any or all growth opportunities. Growth > Demand for bulk commodities benefits from strong tailwinds: Economic growth Infrastructure development Food consumption Battery development Energy transition Estimated market EBIT $300m AURIZON. 20 20
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