Investor Presentaiton

2021 INVESTOR DAY AURIZON. Bulk value chain Our customers' needs drive our broader focus on Bulk logistics, which we expect to be ~$1.25bn profit pool in ten years Drivers for expansion out from current rail core Customers increasingly want end-to-end, integrated solutions Australian and global players are building end- to-end capability There is value from integration and taking out friction in supply chain steps Opportunity to aggregate and make the asset base more efficient Targeted methodology to estimate profit pools across the heavy haul bulk value chain Estimated overall bulk commodity volumes by commodity type, geography and value chain step Exclusion of bulk volume considered not addressable (e.g. Pilbara Majors' iron ore) Industry intelligence informed price and margin assumptions by commodity and region to give a profit pool sizing Basin plans informed an aspirational and path-dependent view of Aurizon's Bulk business size ~$1.25bn expected profit pool in FY30 39

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