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1 2 Telstra Annual General Meeting 2026 Disclaimer T T Forward - looking statements This presentation includes forward - looking statements . The forward - looking statements are based on assumptions and information known by Telstra as at the date of this presentation , are provided as a general guide only and are not guarantees or predictions of future performance . Telstra believes the expectations reflected in the forward - looking statements are reasonable as at the date of this presentation , but acknowledges they involve known and unknown risks , uncertainties and other factors , many of which are beyond the control of Telstra , which may cause Telstra's actual results , performance and achievements to differ materially from those expressed in , or implied by , the forward - looking statements . These factors include : general economic conditions in Australia ; increased competition ; the continuing growth in the markets in which Telstra operates ; the implications of legal and regulatory risks in the businesses of Telstra ; sustained technological change ; future changes to Telstra's products and services ; the risk of cyber and data security issues ; geopolitical instability and macroeconomic pressures ; supply chain disruption ; exchange rates ; the extent , nature and location of physical impacts of climate change and their impacts on our assets , network and service continuity , supply chain reliability and responsible sourcing ; responsible Al scaling ; network and energy resilience ; electricity grid decarbonisation ; and changes to forecast supply chain emissions including but not limited to failure of third parties to achieve contractual environmental targets or milestones that have direct or indirect impact on our environmental modelling . A number of these risks , uncertainties and other factors are described in the " Chair and CEO's message " , " Our material risks " and " Outlook " sections ( which form part of Telstra's Operating and Financial Review ) , and the " Sustainability Report -Climate Statements for FY26 " section of Telstra's Annual Report which was lodged with the ASX on 13 August 2026 , and is available on Telstra's Investor Centre website www.telstra.com.au/aboutus/investors . In addition , there are particular risks and uncertainties in connection with the implementation of Telstra's Connected Future 30 strategy . Those risks include strategic execution risks associated with the scale and interdependences of our transformation programs , network evolution , financial performance risks emerging from economic conditions , broader geopolitical challenges , the response of customers to changes in our products and how we interact with them under a digital operating model , the risks of disruption from changes in Telstra's ways of working , and Telstra's ability to execute and manage the elements of the strategy in a sequenced , controlled and effective manner and realise the planned benefits , cost savings and growth opportunities . Readers should not place undue reliance on the forward - looking statements . To the maximum extent permitted by law , Telstra gives no representation , warranty , or other assurance in connection with , and disclaims all responsibility for , the currency , accuracy , reliability , and completeness of any forward - looking statements , whether as a result of new information , future events or otherwise . Telstra assumes no obligation to update any forward - looking statements , and to the maximum extent permitted by law , disclaims any obligation or undertaking to release any updates or revisions to the information contained in this presentation to reflect any change in expectations and assumptions . Defined terms are set out in the slide " Glossary " . Group performance results It is our intention to continue to provide meaningful financial information to enable shareholders to understand our performance . Telstra uses non - IFRS financial information ( being " EBITDA " , " Underlying EBITDA " , " EBITDAAL " , " Underlying EBITDAAL " , " Underlying NPAT " , " Underlying EPS " , " ROIC " , " Underlying ROIC " , " Underlying income " , " Underlying operating expenses " , " Underlying cashflow before dividends , buy - backs and net borrowings " , " Cash EBIT " , " Cash earnings " , " Cash EPS " and " operating leverage " ) as measures to better reflect what Telstra considers to be its underlying performance . This non - IFRS financial information is consistent with how management reviews financial performance with the Board and the investment community . Telstra includes some of these measures in this presentation to help readers better compare our underlying financial performance with that of previous periods . Underlying EBITDAAL and Cash EBIT also show how the business performed on the same basis as the guidance we provided to the market . More detail is set out in the Annual Report lodged with the ASX on 13 August 2026 . All non - IFRS measures exclude material one - offs such as mergers and acquisitions , disposals , impairments , spectrum , restructuring costs and such other items as determined by the Board and management . An explanation of each adjustment and a reconciliation to our reported IFRS financial information for Underlying EBITDAAL and Cash EBIT is set out in the " Guidance versus reported results " schedule in the Annual Report lodged with the ASX on 13 August 2026. This schedule has been reviewed by our auditor for consistency with the basis set out in the guidance we provided to the market . Underlying NPAT and Underlying EPS are set out in the " Underlying earnings reconciliation to reported earnings " slide and " Underlying ROIC " in " Return on Invested Capital ( ROIC ) " slide of the CEO and CFO analyst briefing presentation materials lodged with the ASX on 13 August 2026. Cash EBIT , Cash earnings and Cash EPS are set out in the " Cash earnings " slide of the CEO and CFO analyst briefing presentation materials lodged with the ASX on 13 August 2026. The CEO and CFO analyst briefing presentation slides have not been reviewed by our auditors . No offer , invitation or advice This presentation is not intended to ( nor does it ) constitute an offer or invitation by or on behalf of Telstra , its subsidiaries , or any other person to subscribe for , purchase or otherwise deal in any equity , debt instrument or other securities , nor is it intended to be used for the purpose of or in connection with offers or invitations to subscribe for , purchase or otherwise deal in any equity , debt instruments or other securities . Information in this presentation , including forward - looking statements and guidance , should not be considered as investment , tax , legal or other advice . You should make your own assessment and seek independent professional advice in connection with any investment decision . Unaudited information All forward - looking figures and proforma statements in this presentation are unaudited and based on A - IFRS unless otherwise indicated . Certain figures may be subject to rounding differences . All market share information in this presentation is based on management estimates having regard to internally available information unless otherwise indicated . Other information All amounts are in Australian Dollars unless otherwise stated . Copyright Telstra® 2 1