Investor Presentaiton

QANTAS LOYALTY Australia's leading loyalty program Analytics 15+ segmentation models • 34,000 market research online posts 1.5 billion customer transactions Exclusive access to Classic Flight Rewards and Points Plus Pay - Flights to 1000+ destinations Qantas Store with over 3,000 products Marketing 7.8 million valid email addresses 7.2 million members receive eDMs ☐ Over 335 million email communications with 33% open rate ☐ Qantas and Jetstar ■ ☐ 35+ airline partners including Emirates and oneworld affiliates All major credit card issuers Primary supermarket $1.3B billings > 66% external Earn partners may become reward suppliers, increasing range of valuable rewards Large, quality member base attracts new earn partners Valuable rewards attract members and enhance engagement Large, quality earn partner network increases opportunities to earn, increasing engagement 10.7m members, 50% of Australian households¹, primary program for 61% of members² Highly affluent skew: We have 79% penetration of Australia's most affluent households¹ ■ Ability to reach members (e.g. 7.8m valid email address, 33% open rate) ■ Record satisfaction (NPS)³ Breakage at industry lows Source: Qantas Loyalty analysis. Note: All figures are as at April 2015 unless otherwise stated. 1. 50% as at February 2014. Source: Experian. 2. As at March 2015. 3. For March 15 quarter. 4. FY14 billings. 144

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