Three-Year Recovery Plan

Qantas Domestic - - - Strong leisure-led recovery delivering a positive Underlying EBITDA Strong demand recovery in 4Q21 with capacity at 86% of Pre-COVID levels¹ by May 2021; seat factor recovery to 64%2 Variabilisation of cost base underpinning ability to respond to border closures Yield premium growth³; average fares maintained4 Corporate and SME recovery ahead of expectations, 34 new accounts won in FY215 Expanded domestic services (27 new routes) with 95% of flights cash flow positive ~$300m in recovery cost benefits delivered in FY21, on track for ~$500m by FY236 Network and fleet optimisation will deliver improved asset utilisation • Pre-COVID FY21 FY20 FY19 Revenue $M 2,745 4,672 6,098 Underlying EBITDA SM 159 907 1,503 Underlying EBIT Operating Margin³ SM (590) 173 778 % <0 3.7 12.8 ASKS Σ 16,951 25,773 33,866 Seat factor % 58.3 75.9 77.8 - 717 and Turboprop base consolidation on the East Coast - E190 activation to capture emerging central Australia and Northern Territory demand - A320 Western Australia deployment increased to 11 to meet strong resource market demand Maintained support of vital transport links and domestic tourism through government sponsored RANS, DANS and TANS Giving customers confidence to book and fly, extension of 'Fly Flexible' program to February 2022; high levels of NPS maintained 100 Extended leading premium position in the domestic market 1. FY19 ASKS as a proxy of Pre-COVID performance. 2. Achieved in April 2021. 3. Compared to main domestic competitor. Based on Qantas internal estimates. 4. February to June 2021 compared to February to June 2019. 5. Acquisition of new Corporate and large SME customers. 6. Cumulative recovery program benefits. 7. Regional Airline Network support (RANS). Domestic Airline Network support (DANS). Tourism Aviation Network support (TANS). 8. Operating Margin calculated as Underlying segment EBIT divided by total segment revenue. | 16

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