Three-Year Recovery Plan

Recovery Plan benefits exceeded the FY21 target, with $650m of structural cost benefits delivered Ways of Working ~65%¹ Improved workforce flexibility and productivity • Efficiencies through head office and management restructuring including consolidating teams Variabilised costs and created operational team efficiencies across the Qantas Group including cabin crew, engineering, ground handling ~9,400 exits in FY21 against the target of at least 8,500 • . . Digitalisation/Supplier ~35%¹ Clear pathway to the $1b target by end of FY23 Efficiencies across the business Streamlined and restructured technology services Restructured sales and distribution model Consolidation of property leases Freight terminals optimisation Supplier savings across various categories of spend (e.g. lounge management, marketing and sponsorship, utilities, engineering supply chain) $1b Target Breakdown by Segment Loyalty & Other Jetstar Group On track for $850m by FY22 9% 2% Qantas Domestic 48% Qantas International & Freight 41% >90% of initiatives complete or initiated² Parallel focus targeting additional transformation to offset ongoing inflation Dual focus on cost restructuring and inflation ensures $1b restructuring program will translate to sustainable earnings uplift 100 1. Percentage of $650m FY21 restructuring cost benefits. 2. Initiatives to achieve $1b in restructuring cost benefits by FY23 as at 30 June 2021. 5

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