Investor Presentaiton

2021 INVESTOR DAY Historical Free Cash Flow Recent cash flows have been stable following a post IPO investment cycle KEY MESSAGES 1 Post-IPO investment to support volume growth 2 Capital discipline and operational efficiency improvement 3 FCF has been stable Free Cash Flow $1,500m $1,000m $500m $0m -$500m and resilient from FY17 ^After interest payments -$1,000m 1 2 AURIZON. Coal Volume 250mt 3 200mt 150mt 100mt -$1,500m 50mt FY11 FY12 FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY21f Operating Cash Flow^ [LHS] Investing Cash Flows [LHS] Free-Cash Flow^ [LHS] Above Rail Coal Volume [RHS] Network Coal Volume [RHS] 23

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