TELSTRA GROUP LIMITED — Board/Management Information 2011

Dec 13, 2011

==> picture [83 x 36] intentionally omitted <==

14 December 2011

The Manager

Company Announcements Office Australian Securities Exchange 4[th] Floor, 20 Bridge Street SYDNEY NSW 2000

Office of the Company Secretary

Level 41 242 Exhibition Street MELBOURNE VIC 3000 AUSTRALIA

General Enquiries 08 8308 1721 Facsimile 03 9632 3215

ELECTRONIC LODGEMENT

Dear Sir or Madam

Andrew Penn appointed Chief Financial Officer

In accordance with the Listing Rules, I attach an announcement for release to the market.

Yours sincerely,

==> picture [180 x 73] intentionally omitted <==

Carmel Mulhern

Company Secretary

Telstra Corporation Limited ACN 051 775 556 ABN 33 051 775 556

MEDIA RELEASE

Andrew Penn appointed Chief Financial Officer

14 December 2011 – Telstra today announced that Andrew Penn has been appointed Chief Financial Officer and Group Managing Director, Finance, from 1 March 2012.

Mr Penn is an experienced chief executive and chief financial officer with a career spanning more than thirty years, the past twenty at AXA Asia Pacific in a variety of finance, strategy and executive roles, most recently Group Chief Executive.

“I am delighted to welcome Andy to this critical position. Andy has extensive experience in Australia and overseas, a proven track record of success as a Chief Financial Officer, and a demonstrated ability to create shareholder value in complex businesses,” Chief Executive Officer David Thodey said.

Mr Penn was Group CEO of AXA Asia Pacific from 2006 until 2011. Over twenty years at AXA he held a variety of roles including CEO of the Australia and New Zealand business, Chief Operations Officer, Head of Transformation, and Chief Executive of Asia. He previously held roles at the P&O Shipping Group.

Most of Mr Penn’s previous roles have had strong corporate finance responsibilities. He has successfully led value-adding transactions in Australia, New Zealand, Europe, North America and across Asia.

Mr Penn will be a member of Telstra’s CEO leadership team and will report to Mr Thodey. He will be based in Melbourne.

“"I am looking forward to joining the team at Telstra and I am very excited by this great opportunity in a dynamic industry,” Mr Penn said.

Telstra also announced that Mark Hall will be acting Chief Financial Officer and Group Managing Director, Finance, from 1 January to 29 February 2012. Mr Hall is currently Deputy CFO.

Mr Thodey thanked retiring CFO, John Stanhope, for his service to the company over a career spanning more than four decades, including eight years as Chief Financial Officer and Group Managing Director, Finance & Administration.

“On behalf of his colleagues, I would like to acknowledge John’s enormous contribution to our company over four decades, and wish him and his family the very best for the future,” Mr Thodey concluded.

Media contact: Andrew Maiden (0458 487 754) Email: media@team.telstra.com www.telstra.com.au/abouttelstra/media-centre/ Reference: 390 / 2011 Notes: Biography attached

==> picture [36 x 15] intentionally omitted <==

Follow Telstra online: Blog exchange.telstra.com | www.facebook.com/telstra | www.twitter.com/telstra_news |

www.youtube.com/telstracorp

MEDIA RELEASE

BIOGRAPHY – ANDREW PENN

Andrew (Andy) Penn is an experienced chief executive and chief financial officer with a career spanning more than thirty years, the past twenty at AXA Asia Pacific in a variety of finance, strategy and executive roles, most recently Group Chief Executive.

Over twenty years at AXA Asia Pacific he has served as Group CEO (2006-2011), Chief Executive Officer for Australia & NZ (2004-06), Group Chief Financial Officer (2002-04), Chief Operations Officer for Australia & NZ and Head of Transformation (2000-02), Chief Executive for Asia (1998-2000), Business Development & Operations for Asia (1992-98), and Strategy Manager for Europe (1990-92).

Prior to joining AXA, Andy worked in London with the P&O Shipping Group in a variety of roles.

In addition to his business activities, Andy has contributed widely to not-for-profit and community organisations. He is a director of the Juvenile Diabetes Research Foundation Advisory Council, and The Big Issue Advisory Group. He is Chairman and foundation board member of Very Special Kids, and is an Amy Gillet Foundation Ambassador.

Andy was born in the United Kingdom and migrated to Australia in 1992. He has four children and lives in Melbourne.

==> picture [36 x 15] intentionally omitted <==

Follow Telstra online: Blog exchange.telstra.com | www.facebook.com/telstra | www.twitter.com/telstra_news |

www.youtube.com/telstracorp