Investor Presentaiton

2021 INVESTOR DAY Free Cash Flow levers Levers are available to seek to preserve Free Cash Flow under volume downside scenarios without compromising safety or reliability Free Cash Flow Levers AURIZON. Opex Efficiency > 'Variabilise' cost structure to reduce spend as volumes decline > Right-size cost base Capex Optimisation > Eliminate avoidable spend on Coal assets › Optimise spend on Bulk assets by avoiding sustaining capex through fleet redeployment Incremental FCF via Fleet Cascade › Actively redeploy surplus assets to support incremental growth opportunities in Bulk Asset Disposal > Short term lease and/or sale of surplus assets 30

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