Investor Presentaiton

2021 INVESTOR DAY Carbon Constrained Asia: Illustrative example Aurizon Free Cash Flow is resilient¹ in response to global coal volume fluctuations AURIZON LEGEND: >2% favourable >2% adverse increase/decrease vs. today INDICATIVE IMPACT TO KEY METRICS (BASED ON ASSUMPTIONS MODELLED 2020-2040): CARBON CONSTRAINED ASIA SCENARIO [ Global Coal Demand (Volumes) Global Demand Mt (CAGR) Volume Competitive Australian Coal Exports Aus. Supply Mt (CAGR) Aurizon Contracted Volumes Revenue Aurizon Revenue OPEX Aurizon Opex CAPEX Aurizon Capex² Aurizon Free Cash Flow AZJ Mt (CAGR) AZJ $ (CAGR) AZJ $ (CAGR) AZJ $ (% delta) AZJ $ (CAGR) AURIZON THERMAL MET. NETWORK BULK AZJ GROUP MARKET дав AURIZON CAGR Compound Annual Growth Rate 1. As noted on slide 2 these are scenarios (and associated cash flow modelling) not predictions or forecasts and do not constitute definitive outcomes for Aurizon. It is difficult to predict which, if any, of these scenarios might eventuate. Further details of the scenarios, assumptions and levers to model free cash flow are described in detail on slides 22-33 2. Capex CAGR not meaningful, therefore expressed as a % delta in annualised average Capex under the scenario relative to present-day expenditure 29 29

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