TELSTRA GROUP LIMITED — Director's Dealing 2011

Aug 25, 2011

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26 August 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

Appendix 3Y – Change in Director’s Interest Notices

In accordance with the listing rules, I attach an announcement for release to the market.

Regards

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Carmel Mulhern

Company Secretary

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

Appendix 3Y Change of Director’s Interest Notice

Rule 3.19A.2

Appendix 3Y

Change of Director’s Interest Notice

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX’s property and may be made public.

Introduced 30/9/2001 Amended 01/01/11

Name of entity	TELSTRA CORPORATION LIMITED
ABN	33 051 775 556

We (the entity) give ASX the following information under listing rule 3.19A.2 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of Director	JOHN STANHOPE
Date of last notice	12/05/2009

Part 1 - Change of director’s relevant interests in securities

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Note: In the case of a company, interests which come within paragraph (i) of the definition of “notifiable interest of a director” should be disclosed in this part.

Direct or indirect interest	DIRECT INTEREST
Nature of indirect interest (including registered holder) Note: Provide details of the circumstances giving rise to the relevant interest.	ALLOCATION UNDER THE TELSTRA GROWTHSHARE 2010/2011 STI PLAN
Date of change	19 AUGUST 2011
No. of securities held prior to change	DIRECT 442,518 INDIRECT 3,708,891
Class	ORDINARY SHARES
Number acquired	112,404
Number disposed	NIL
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation	$349,576
No. of securities held after change	DIRECT 554,922 INDIRECT 3,708,891

• See chapter 19 for defined terms.

01/01/2011 Appendix 3Y

Page 1

Appendix 3Y Change of Director’s Interest Notice

Nature of change ALLOCATION OF SHARES FROM Example: on-market trade, off-market trade, exercise of options, issue of GROWTH SHARE TRUST securities under dividend reinvestment plan, participation in buy-back

Part 2 – Change of director’s interests in contracts

Note: In the case of a company, interests which come within paragraph (ii) of the definition of “notifiable interest of a director” should be disclosed in this part.

Detail of contract Nature of interest Name of registered holder (if issued securities) Date of change No. and class of securities to which interest related prior to change Note: Details are only required for a contract in relation to which the interest has changed

Interest acquired Interest disposed Value/Consideration Note: If consideration is non-cash, provide details and an estimated valuation Interest after change

Part 3 – Closed period

Were the interests in the securities or NO contracts detailed above traded during a closed period where prior written clearance was required? If so, was prior written clearance provided to allow the trade to proceed during this period? If prior written clearance was provided, on what date was this provided?

• See chapter 19 for defined terms.

01/01/11 Appendix 3Y

Page 2

Appendix 3Y Change of Director’s Interest Notice

Rule 3.19A.2

Appendix 3Y

Change of Director’s Interest Notice

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX’s property and may be made public.

Introduced 30/9/2001 Amended 01/01/11

Name of entity	TELSTRA CORPORATION
ABN	33 051 775 556

We (the entity) give ASX the following information under listing rule 3.19A.2 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of Director	DAVID THODEY
Date of last notice	24/11/2010

Part 1 - Change of director’s relevant interests in securities

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Note: In the case of a company, interests which come within paragraph (i) of the definition of “notifiable interest of a director” should be disclosed in this part.

Direct or indirect interest	DIRECT INTEREST
Nature of indirect interest (including registered holder) Note: Provide details of the circumstances giving rise to the relevant interest.	ALLOCATION UNDER THE TELSTRA GROWTHSHARE 2010/2011 STI PLAN
Date of change	19 AUGUST 2011
No. of securities held prior to change	DIRECT 281,125 INDIRECT 5,752,187
Class	ORDINARY SHARES
Number acquired	181,004
Number disposed	NIL
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation	$562,922
No. of securities held after change	DIRECT 462,129 INDIRECT 5,752,187

• See chapter 19 for defined terms.

01/01/2011 Appendix 3Y

Page 1

Appendix 3Y Change of Director’s Interest Notice

Nature of change ALLOCATION OF SHARES FROM Example: on-market trade, off-market trade, exercise of options, issue of GROWTH SHARE TRUST securities under dividend reinvestment plan, participation in buy-back

Part 2 – Change of director’s interests in contracts

Note: In the case of a company, interests which come within paragraph (ii) of the definition of “notifiable interest of a director” should be disclosed in this part.

Detail of contract Nature of interest Name of registered holder (if issued securities) Date of change No. and class of securities to which interest related prior to change Note: Details are only required for a contract in relation to which the interest has changed

Interest acquired Interest disposed Value/Consideration Note: If consideration is non-cash, provide details and an estimated valuation Interest after change

Part 3 – Closed period

Were the interests in the securities or NO contracts detailed above traded during a closed period where prior written clearance was required? If so, was prior written clearance provided to allow the trade to proceed during this period? If prior written clearance was provided, on what date was this provided?

• See chapter 19 for defined terms.

01/01/11 Appendix 3Y

Page 2