Investor Presentaiton

FY23 guidance Total Income Underlying EBITDA² Capex³ Free cashflow after lease payments (FCFaL)4 FY23 guidance¹ FY22 (includes Digicel Pacific) $22.0b $23.0b to $25.0b $7.3b $7.8b to $8.0b $3.0b $3.5b to $3.7b (incl. strategic investment) $4.0b $2.6b to $3.1b (incl. strategic investment) T 1. This guidance excludes material one-offs, such as mergers and acquisitions, disposals, impairments, spectrum, restructuring costs and such other items as determined by the Board and management. 2. Underlying EBITDA excludes net one-off nbn DA receipts less nbn net C2C and guidance adjustments. 3. Capex is measured on an accrued basis and excludes spectrum and guidance adjustments, externally funded capex, and capitalised leases. 4. Free cashflow after lease payments defined as 'operating cash flows' less 'investing cash flows' less 'payments for lease liabilities', and excludes spectrum and guidance adjustments. Page 14 Copyright Telstra Confidential Telstra August 2022 Debt Investor Presentation

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