Investor Presentaiton

Qantas Group Investment Case - Investor Day 2023 Strong customer value proposition to deliver against target segments. Sunrise to deliver sustained $ earnings increase Qantas and Jetstar fleet renewal unlocks new opportunities and extends competitive advantage KEY BUSINESS TAKEAWAYS Qantas & Jetstar Domestic EBIT margin target FY24+ 18% 15% Affordability of fleet supported by step-change in earnings growth and balance sheet strength Qantas Freight placed to capture incremental growth in Australian eCommerce Qantas Loyalty positioned to continue growth in earnings through increased engagement and points earned/redeemed Climate Action Plan and cost mitigations provide path to reach Sustainability targets while supporting financial outcomes Commitment to employee culture strengthens talent pipeline and employee retention Qantas International EBIT margin target in FY24 and future state 8% 10-12% FY24 Future Jetstar International EBIT margin target in FY24+ 10-12% Qantas Loyalty EBIT target $500m- $600m $800m- $1B FY24 FY30 Sustainability 10% Qantas Group confident in the ability to invest in the business while rewarding shareholders SAF target supported by the Qantas Climate Action Fund SAF by 2030 QANTAS GROUP FY23 Results 29 29

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