TELSTRA GROUP LIMITED — Capital/Financing Update 2013

Dec 10, 2013

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11 December 2013

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

Autohome Inc. initial public offer process

In accordance with the Listing Rules, I attach a copy of a media release, for release to the market.

Yours faithfully

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Damien Coleman Company Secretary

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

MEDIA RELEASE

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Autohome Inc. initial public offer process

11 December 2013 - Telstra advises that on 10 December 2013, East Coast U.S. time, an underwriting agreement was signed relating to the initial public offering by Autohome Inc. (“Autohome”), the leading online destination for automobile consumers in China.

7,820,000 American depositary shares (“ADSs”), each representing one Class A ordinary share of Autohome will be offered.

If the underwriters exercise their option to purchase additional ADSs, up to an additional 1,173,000 ADSs will be offered.

The price per ADS is US$17.00, which values 100% of Autohome at approximately US$1.634 billion, immediately prior to the initial public offering.

Based on the price per ADS of US$17.00, Autohome's gross proceeds from the initial public offering will be approximately US$132.94 million.

Shares are expected to begin trading on the New York Stock Exchange on 11 December 2013 under the symbol “ATHM”.

Telstra is the majority shareholder in Autohome with a 71.5% stake in the company immediately prior to the initial public offering

Immediately following the initial public offering, Telstra will be the majority shareholder in Autohome with a 66.2% shareholding in the company, assuming the underwriters do not exercise their option to purchase additional ADSs.

Telstra will not sell any of its shares into the initial public offering.

Media contact: Nicole McKechnie, +61 (0) 429 004617 Email: media@team.telstra.com Ref number: 300/2013

Autohome’s registration statement relating to these securities has been declared effective by the United States Securities and Exchange Commission. This news release does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

This announcement contains certain “forward looking statements”. The words “anticipate”, “believe”, “expect”, “project”, “likely”, “intend”, “should”, “could”, “may”, “target”, “plan” and other similar expressions are intended to identify forwardlooking statements. Such forward-looking statements are not guarantees of future action and involve known and unknown risks, uncertainties and other factors. There can be no assurance that actual outcomes will not differ materially from these statements, and you are cautioned not to place undue reliance on these statements.

The offering of the securities is made only by means of a prospectus forming a part of the effective registration statement. A copy of the prospectus relating to the offering may be obtained by contacting Deutsche Bank Securities Inc., 60 Wall Street, New York, New York 10005, Attention: Prospectus Department (telephone: +1 800-503-4611; e mail: prospectus.cpdg@db.com) or Goldman, Sachs & Co., 200 West Street, New York, NY 10282, Attention: Prospectus Department (telephone: +1 212-902-1171; facsimile: +1 212- 902-9316; e-mail: prospectus-ny@ny.email.gs.com).

ENDS

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