Investor Presentaiton

Operating highlights T Mobile strategy continuing to deliver growth Mobile service net adds ■ +101k retail postpaid handheld services including +67k branded +34k Belong ■ +95k retail prepaid handheld unique users ■ +240k wholesale MVNO including prepaid and postpaid services ■ +892k retail loT services Fixed service net adds ■ -69k retail fixed bundle and data services including +10k Belong ■ +246k nbn connections with 45% estimated market share as at end of FY21 (ex-satellite) Building value ■ Mobile: +$3 TMMC mass market branded growth on pcp and $170m EBITDA growth on pcp ■ Fixed - C&SB: Focus on higher speed tiers and add-ons ■ Fixed - Enterprise: Positioning for return to growth with Adaptive Networks ■ Telstra Health: FY21 revenue growth 6% and confident for high teens organic revenue growth in FY22 ■ Telstra Ventures: ~$300m increase investment value Improved customer experience Episode NPS improved +9 last 12 months and +6 last six months Strategic NPS improved +7 last 12 months and +2 last six months Continued cost reduction $490m or 8.1% underlying fixed cost reduction in FY21 ■ $1.8b or 10.2% decline in FY21 total operating expenses¹ $2.3b underlying fixed cost reduction since FY16. On track for $2.7b cost reduction with $430m target in FY22 1. 'Reported lease adjusted' includes all mobile handset leases as operating expenses, and all rent/other leases below EBITDA. Page 3 Copyright TelstraⒸ Telstra September 2021 Debt Investor Presentation

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