Slide 1: Disclaimer
For personal use only Disclaimer » fererdtoaasniala idersmat tot snr a meanaet wnat wach wate be entlo Tanon cach ny co Tarovs al ade a e c anes fc om i ma c modelling Ancnoe Secenan esate gn rtruee cocoon echoes mor‘ meta ap Ova srt Tee 20 Acausaten iepartualoutnnasioss esses mane tosevonese sorbat
Slide 2: Full year 2025 results
For personal use only Full year 2025 results € NPAT ROIC $2.3b +31% 8.5% +1.7pp Underlying NPAT"? Underlying ROIC'? $2.3b +1.8% 8.5% +0.2pp Strategy On-market share buy-back T25 complete Connected Future 30 $750m complete announced $1b announced All percentage growth rates on priot correspanding per
Slide 3: Full year 2025 results
For personal use only Full year 2025 results FY25 Underlying EBITDA’? growth on PCP + Mobile: $235m or 4.7% + Fixed-C&SB:$109m or 43% + Fixed-Enterprise:$103m or 76% * International: -$96m or -12% * InfraCo Fixed: $54m or 3.1% + Amplitel: $13m or 3.5% 1. Refer to definition in the Glossary, 2. Refer
Slide 4: Investing in connectivity
For personal use only Investing in connectivity Australia’s largest mobile network: 3 million square km or 99.7% population coverage Australia’s largest 5G network with 95% population coverage Additional $800m mobile investment over 4 years, within BAU capex, to extend our network leadership and del
Slide 5: Supporting Australians
For personal use only Supporting Australians « Upgraded >1k payphones in disaster prone areas across Australia with free WiFi and backup power + Supported renewable energy projects worth $1.6b — helping to enable projects across Queensland, Victoria and New South Wales + Returned >$2.1b to sharehold
Slide 6: Strong cash generation supporting shareholder returns
For personal use only 11 Strong cash generation supporting shareholder returns Reported results reflect one-off restructuring and non-cash impairments largely in prior year Total income’ $235b $23.6b EBITDA $7.5b $8.6b NEAT $18 $2.3b Profit for TLS shareholders! $1.6b — $2.2b Refer to definition in
Slide 7: Underlying results
For personal use only Underlying results € Continued earnings growth in line with strategy Underlying’ FY24 + Continued earnings growthfrom: ‘ + Income growth and strong cost discipline Total " . . y oe income $234b $23.85 07% + partly offset by higher D&A, finance and tax expense Operating expenses
Slide 8: Mobile
For personal use only Mobile Ongoing growth supported by leading mobile network and customer-focused propositions $11.0b FY25 Income 3% $5.3b FY25 EBITDA 5% + Mobile service revenue 3.5% growth supported by handheld price changes and wholesale, partly offset by mobile broadband + Sustained average r
Slide 9: Fixed - Enterprise
For personal use only Fixed - Enterprise Cost reduction offsets continued decline in connectivity and calling $3.4b $239m Ficed-Enterrieeincomne! FY25 Income’ W0.3% FY25 EBITDA A76% $m -0.3% on PCP + Fixed - Enterprise income! broadly flat + Data and Connectivity (DAC) income and EBITDA decline with
Slide 10: Infrastructure
For personal use only Infrastructure Growth from ongoing demand for digital infrastructure and contractual nbn indexation + InfraCo Fixed resultsreflect lower nbn commercial works, legacy disposals and internal charges largely power related + InfraCo Fixed core access EBITDAaL' growthof 5.1% driven
Slide 11: Strong cash generation
For personal use only Strong cash generation pn Les [cine | caren | Underlying EBITDA? $8,243m Lease amortisation -$619m Underlying EBITDAaL? $7,624m Spectrum amortisation -$281m BAU capex -$3,405m Cash EBIT? $3,938m Working capital & other! $82m Lease finance costs -$108m Tax paid -$946m Add back:
Slide 12: Strong capital position and liquidity
For personal use only Strong capital position and liquidity ies cr | Net debt $15.8b $16.3b $16.4b Debt servicing (comfort zone 1.75 - 2.25x)? 21x 1.9x 1.9x Average cost of debt! 5.0% 5.0% 5.0% Average debt maturity (years)! 38 43 39 Average maturity of hedge (years)! 37 35 36 Fixed rate debt as % o
Slide 13: Delivering growth and shareholder value creation
For personal use only Delivering growth and shareholder value creation + * Portfolio management including Versent group sale and Portfolio &investment strategic partnerships; Foxtel and Ventures Fund II divestments management Intercity Fibre Network — disciplined strategic investment Strang commitme
Slide 14: Our three layers and goals
For personal use only 27 Our three layers and goals hs SS + Digital Infrastructure To be Australia’s leading digital infrastructure provider Copyright Telstra Our four enablers People & culture Technology leadership a aly ) Sustainability b Financial discipline 28 14
Slide 15: Maximise returns for shareholders
For personal use only a ( Maximise returns for Maintain financial Retain financial c : shareholders strength flexibility > » @ Committed to balance sheet settings consistent with an A band credit rating [2] Disciplined BAU capex to support core business growth (3] Sustainable and growing dividend (p
Slide 16: Sustainability
For personal use only Sustainability Creating a better digital world’ Expanded mobile coverage by 360,000 square km ince FY21 to 3 million square km upported 677k Australians to build digital SI since end o' Sustaining our planet! ssions by 44 1 50% target by target by 2030) and reduced at end of FY
Slide 17: Customer experience
For personal use only Customer experience Driven by product simplification, onshore call centres, in-house stores and digitisation Increased digitisation * C&SB:75% services and 95% sales on new digital stack * 86% key service interactions available digitally * 87m active digital C&SB users + 6.1m T
Slide 18: The place you want to work
For personal use only The place you want to work Driven by digital leadership and doing business responsibly New ways of working + Employee engagement score of 79 — In top quartile globally + Uplifted operational excellence capability through our dedicated learning academy * 74% Agile teams at Level
Slide 19: T25 outcomes — progress
For personal use only T25 outcomes — progress € Market leading CX with + Episode NPS +47. Improved 1 point on FY24 and unchanged on 1H25 + eNPS>40 by FY25 + Strategic NPS uplift of 10 points FY21 to FY25. Improved 6 points on + SNPS uplift of +25 by FY25 1H25 and 7 points on FY24 + Getting it right
Slide 20: T25 outcomes — progress (continued)
For personal use only T25 outcomes — progress (continued) 5 Underlying EBITDA + $7.5-B.0b by FY23 Sustained + Mid-single digit CAGR FY21 to FY25 growth and value Underlying ROIC for our shareholders + 8% by FY23 + Grow beyond to FY25 Underlying EPS: High-teens CAGR FY21 to FY25 Maximise fully-franke
Slide 21: T25 outcomes — progress (continued)
For personal use only T25 outcomes — progress (continued) The place you want to work — Doing business responsibly Nate: Commitmentsare basalined to FY21, Copyright Telstra? Reduce our absolute scope 1+2 emissions by 70% by 2030 (from FY19) Reduce our absolute scope 3 emissions by 50% by 2030 (from F
Slide 22: Underlying earnings reconciliation to reported earnings
For personal use only Underlying earnings reconciliation to reported earnings! € Guidance Total income’ $23,482m $11,823m $11,787m $23,610m -$81m . -$47m -$47m = —$23,401m $11,823m $11,740m $23.563m Operating expenses $15,938m $7,561m $7,425m $14,986m -$796m - -$61m -$6lm = $15,142m_=—$7,561m = $7,3
Slide 23: Operating leverage
For personal use only Operating leverage 5 Underlying income! $23,173m $23,401m $23,563m Underlying operating expenses $15,196m $15,142m $14,925m Share of loss/(gain) from associates $27m $16m $17m Lease amortisation $574m $619m $600m BAU capex' $3,297m $3,405m $3,388m Spectrum amortisation $296m $2
Slide 24: Dividends
For personal use only Dividends € Earnings per share (EPS) Basic EPS (cents) 57 144 8.9 10.0 18.9 34.0% Underlying EPS! (cents) 10.1 18.5 8.9 10.2 191 3.2% Cash EPS' (cents) 17 20.0 N7 107 22.4 12.0% Dividends (fully franked) Ordinary dividend (cents) 9.0 18.0 9.5 9.5 19.0 5.6% Payout ratios Dividen
Slide 25: Strategic investment: Intercity Fibre Network and Viasat
For personal use only Strategic investment: Intercity Fibre Network and Viasat 5 $8 Satellite ground stations/ teleport sites Sydney - Canberra Coastal route 8 Datacentres g Live from 25 June 2025 = & sydney Express path Bz — Foundation path Canberra Brisbane == Path subject to demand Perth Canberra
Slide 26: Product performance | Operating expenses
For personal use only Product performance | Operating expenses ¢ $chatue Change 4 Mobile $2,881m $5,696m $2,965m $2,789m $5,754m 1.0% Fixed - C&SB $1,995m $4,101m $1,991m $1,945m $3,936m -$165m ~4.0% Fixed - Enterprise $1,678m $3,320m $1,594m $1,612m $3,206m -$114m -3.4% Fixed - Active Wholesale $13
Slide 27: Product performance | Mobile
For personal use only Product performance | Mobile Mobile income $5,397m $10,722m $5,567m $5,448m $11,015m 2.7% Mobile services’ $4,126m $8,224m $4,225m $4,283m $8,508m 3.5% Postpaid handheld $2,808m $5,634m $2,884m $2,909m $5,793m 2.8% Prepaid handheld $612m = $1,193m $630M $655m $1,285m 7.7% Mobil
Slide 28: Product performance | Fixed - Enterprise
Product performance | Fixed - Enterprise ¢ vs PCP DAC income $679m -92% * Data & connectivity (DAC) income decline continued with ARPU compression, renewals at lower rates and DACEBITDA $44m $86m —--9.5% ~—_technologychange Margin 13% 13% - + DAC SIO decline largely due to legacy/copper Data & conne
Slide 29: InfraCo Fixed income
For personal use only InfraCo Fixed income Commercial & recoverable works — $123m. nbn recurring (excl. CW) $531m Legacy asset sales! $99m Other external $70m Internal $597m EBITDA $925m Lease expense $37m EBITDAaL? $88em Margin 63% $239m $1,046m $159m $145m $1,157m $1,759m $73m $1,686m 61% $120m $5
Slide 30: Product performance | Amplitel
For personal use only Product performance | Amplitel ¢ Change Amplitelincome $235m = $470m_— 3.8% + Income 5.4% growth (excluding gains from customer contracts*) from additional site licences, contractual External $45m —$95m = $5IM_=— $49M_—$100mM_— 4.2% sacalations, new tower bulls, 6G Upgrades req
Slide 31: Glossary
For personal use only Glossary Definition (unless separately defined in the slides) BAU capex Cash earnings Cash EBIT Cash EPS EBITDAaL Free cash flow after lease payments (FCFaL) EPS FTE Guidance adjustments IFRS. IFRS financial information n/m Non-IFRS financial information Operating leverage Pcp
Slide 32: Full year results and operations review
T Full year results and operations review
Slide 33: Operating and financial review
Operating and financial review Full year results and operations review Financial results FY25 was a strong year for us as Pies NBD | Grego we continued to deliver for Summary reported results om $m 9 | customers and shareholders. We successfully completed our T25 Revenue (excluding finance income) 2
Slide 34: Our underlying growth more accurately reflects our financial performance
For personal use only Our underlying growth more accurately reflects our financial performance compared to the prior period. Excluding significant one-off items and other adjustments, underlying financial performance showed: ¢ Underlying EBITDA’ up 4.6 per cent to $8.6 billion * Underlying profit® u
Slide 35: Dividend
For personal use only Dividend On 14 August 2025, the Directors of Telstra Group Limited resolved to pay a fully franked final dividend of 9.5 cents per share in line with the interim dividend for the first half of the financial year. The total dividend for FY25 is 19 cents per share representing a
Slide 36: Total income
For personal use only Total income (excluding finance income) increased by 0.5 per cent to $23,610 million including growth across Mobile, Amplitel and International. Income growth was partly offset by declines across Fixed — C&SB, Fixed — Enterprise, Fixed — Active Wholesale and InfraCo Fixed. Tota
Slide 37: Product performance
For personal use only Product performance Product income breakdown (including internal income) 10% 42% FY25 @ Mobile @ Fixed—casB @ Fixed — Enterprise © Fixed — Active Wholesale @ international @ Infraco - Fixed © Amplitel Other Operating and financial review Fy25 FY24 Change Product income $m $m %
Slide 38: Mobile
For personal use only Mobile Mobile income increased by 2.7 per cent to $11,015 million including 3.5 per cent services revenue growth. Growth in services revenue was achieved across postpaid handheld, prepaid handheld, Internet of Things (loT) and wholesale. Retail mobile Services in Operation (SIO
Slide 39: International EBITDA
For personal use only International EBITDA decreased by 12.4 per cent to $678 million including 8.7 per cent or $31 million decline in Digicel Pacific EBITDA, and 15.6 per cent or $65 million decline in International Wholesale and Enterprise EBITDA (excluding non- cash gain from Tianjin data centre
Slide 40: Expense performance
For personal use only Expense performance Operating and financial review FY25 FY24 Change Operating expenses $m $m $m % nbn payments 1,954 1,975 (21) (1.1) Non-nbn 5,825 5,960 (135) (2.3) Sales costs 7,779 7,935 (156) (2.0) Core’® 6,235 6,541 (306) (4.7) Other” 911 666 245 36.8 Fixed costs 7146 7,20
Slide 41: Operating expenses on a statutory reported basis
For personal use only Operating expenses on a statutory reported basis Operating and financial review Our progress on achieving our T25 productivity target is reported through the above operating expenses table. The detail below provides commentary on operating expenses as disclosed in our statutory
Slide 42: Cash flows
For personal use only Operating and financial review Cash flows FY25 FY24 Change Summary statement of cash flows $m $m % Net cash provided by operating activities 7,324 7,049 3.9 Net cash used in investing activities (3,368) (4,990) 32.5 — Capital expenditure (before investments) (3,874) (6,064) 23.
Slide 43: Debt position
Operating and financial review Debt position FY25 FY25 Cash inflows $m |_| Cash outflows $m Euro bond 1,147 US bond 1,308 AUD bond 448 JPY private placement 62 Total debt issuance 1,595 Total debt repayments 1,370 Commercial paper (net) 680 Revolving bank facilities (net) 427 Drawings (bilateral ban
Slide 44: Financial position
Financial position Operating and financial review For personal use only FY24 FY23 Change Summary statement of financial position $m $m % Current assets 6,495 6,107 6.4 Non-current assets 38,473 39,443 (2.5) Total assets 44,968 45,550 (1.3) Current liabilities 11,521 11,526 (0.0) Non-current liabilit
Slide 45: Guidance versus reported results
For personal use only Operating and financial review Guidance versus reported results This schedule details adjustments made to the reported results for the current and comparative periods to reflect the performance of the business on the basis on which we provided guidance to the market, which excl
Slide 46: Results of operations
For personal use only Results of operations Revenue (excluding finance income) Other income (i) Total income (excluding finance income) Labour Goods and services purchased Net impairment losses on financial assets Other expenses Operating expenses Share of net loss from joint ventures and associated
Slide 47: Total income
Total income Year ended 30 June For personal use only 2024 Change Change $M $M % Mobile Postpaid handheld 5,793 5,634 159 28 Prepaid handheld 1,285 1,193 92 17 Mobile broadband 595 648 (53) (8.2) Internet of Things (loT) 293 289 4 14 Mobile wholesale 522 440 82 18.6 Other 20 20 : - Total mobile serv
Slide 48: Total expenses
For personal use only Total expenses Salary, associated costs, labour substitution & other Employee redundancy Total labour Commissions Cost of goods sold Network payments and other Total goods and services purchased Net impairment losses on financial assets Service contracts and other agreements Im
Slide 49: Statement of Cash Flows
For personal use only Statement of Cash Flows Cash flows from operating activities Receipts from customers (inclusive of goods and services tax (GST)) Payments to suppliers and employees (inclusive of GST) Government grants received for operating activities Net cash generated from operations Income
Slide 50: Statement of Financial Position
For personal use only Statement of Financial Position Current assets Cash and cash equivalents Trade and other receivables and contract assets Deferred contract costs Inventories Derivative financial assets Current tax receivables Prepayments Assets classified as held for sale Total current assets N
Slide 51: Average Revenue per Unit (ARPU)
For personal use only Average Revenue per Unit (ARPU) ($) Half-year ended Jun 25 vs Jun 24 Jun 25 vs Dec 24 Jun 2025 Dec 2024 Jun 2024 Change Change Change Change $ $ Mobile Postpaid handheld 54,23 53.62 52.49 1.74 3.3 0.61 14 Prepaid handheld 30.24 28.15 27.14 3.10 4 2.09 74 Mobile broadband 17.91
Slide 52: Segment information from operations
‘Segment information from operations For personal use only Telstra Consumer Telstra Business Telstra Enterprise Australia Telstra International Network, IT and Product All Other Telstra excluding Telstra InfraCo Telstra InfraCo Internal access charges Total Telstra segments Income by segment and pro
Slide 53: Product profitability - EBITDA
For personal use only Product profitability - EBITDA ($M) Mobile Fixed - C&SB - Data & connectivity - NAS Fixed - Enterprise Fixed - Active Wholesale International InfraCo - Fixed InfraCo - Amplitel Other Underlying Guidance adjustments Reported Product profitability - EBITDA margins % Mobile Fixed
Slide 54: For personal use only
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Slide 55: Summary management reported half-yearly data
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