TELSTRA GROUP LIMITED — Capital/Financing Update 2016

Apr 7, 2016

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8 April 2016

The Manager

Market 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

Telstra announces EUR 750 million bond issue

Telstra Corporation Limited (Telstra) has priced a EUR 750 million bond issue (the Notes) under its Debt Issuance Program Offering Circular dated 16 March 2016. The Notes have a coupon of 1.125% and mature on 14 April 2026.

Telstra will use the net proceeds from the Notes for general corporate purposes.

Yours faithfully

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Damien Coleman Company Secretary

This announcement does not constitute an offer to sell, or the solicitation of an offer to buy, securities in the United States. The securities referred to in this announcement have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the "Securities Act"), or the securities laws of any state or other jurisdiction of the United States, and may not be offered, sold or resold in the United States or to, or for the account or benefit of, any "U.S. Person" (as defined in Regulation S under the Securities Act) absent registration or an applicable exemption from the registration requirements under the Securities Act.

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