TELSTRA GROUP LIMITED — Earnings Release 2025

Aug 14, 2025

14 August 2025

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Singapore Exchange Securities Trading Limited 2 Shenton Way #02-00 SGX Centre 1 Singapore 068804

Office of the Company Secretary Level 41, 242 Exhibition Street MELBOURNE VIC 3000 AUSTRALIA

ELECTRONIC LODGEMENT

− Telstra Group Limited (ACN 650 620 303)

Telstra delivers continued growth on the back of T25 completion

In accordance with the Listing Rules, attached is a market release by Telstra Group Limited for release to the market.

Release of announcement authorised by:

Craig Emery Company Secretary

General Enquiries E: companysecretary@team.telstra.com Investor Relations : 1800 880 679; E: investor.relations@team.telstra.com

Market Release

Telstra delivers continued growth on the back of T25 completion

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Thursday 14 August 2025

Below statements attributable to Telstra CEO Vicki Brady

FY25 was a strong year for Telstra as we continued to deliver for customers and shareholders. We delivered our fourth consecutive year of underlying growth, reflecting momentum across our business, strong cost control and disciplined capital management.

Our reported growth this year is stronger than underlying growth because of significant one-off net costs totalling $715 million in the prior year, mostly related to impairments and restructuring associated with the reset of our Telstra Enterprise business.

Our underlying growth more accurately reflects our financial performance compared to the prior period, excluding significant one-off items and other adjustments.

We grew underlying EBITDA across our Mobiles, Fixed Consumer & Small Business, Fixed Enterprise, InfraCo Fixed and Amplitel businesses.

Our mobile business has continued to perform well, with EBITDA growth of $235 million, driven by higher ARPU and customers continuing to choose our network and the value it provides. Mobile services revenue grew by 3.5%.

Fixed C&SB EBITDA grew by $109 million, reflecting ARPU growth and disciplined cost management.

Fixed Enterprise EBITDA grew by $103 million, supported by decisive actions taken to reset this business and reduce costs. We remain committed to this reset, with further changes announced last month to remove complexity and cost.

International EBITDA declined by $96 million, with reductions across Wholesale and Enterprise, and Digicel Pacific. We have completed a strategic review of this business and are now taking action, including to reduce costs, double down on connectivity, and exit the majority of our NAS products. The Wholesale and Enterprise International results include restructuring costs associated with this. These actions, together with the continued demand for connectivity, mean the business is better positioned for the future.

Market Release

Our infrastructure businesses continued to grow, reflecting strong customer demand.

Core fixed costs decreased by 4.7% or $306 million in the year. Cumulatively we reduced our core fixed costs by $428 million since FY22.

On the back of earnings growth, the Board resolved to pay a fully franked final dividend of 9.5 cents per share, bringing total dividends for the year to 19 cents, and representing a 5.6% increase on the prior year.

In June this year we completed our $750 million on-market share buy-back, and today we have announced an additional on-market buy-back of up to $1 billion. This has been enabled by growth in earnings, and the strength of our balance sheet.

Closing out our T25 strategy

We set a high bar across our four T25 pillars to lift customer experience, extend our network leadership, deliver sustainable growth and value, and to be the place our people want to work. Thanks to the dedication of the Telstra team, we have exceeded the majority of our scorecard metrics, including successfully delivering on our financial growth targets across underlying EBITDA, EPS, ROIC and cost-out.

We achieved our objectives, but not always as expected, as a lot changed over the course of T25 including technology evolution and inflation.

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A detailed summary of our performance by strategic pillar and our overall T25 scorecard is available in the Appendix slides. Please view the full presentation for context and supporting detail at telstra.com.au/aboutus/investors .

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Market Release

Enabling Australia’s digital future

We welcome the national conversation on productivity, and we believe the telco sector has an important role to play.

To unlock opportunities from technology, we’ve got to have the right foundation of digital infrastructure. That goes beyond data centres to connectivity, including the high capacity, low latency fibre and advanced mobile networks needed to support a tech-enabled, innovation-led economy.

It is the critical foundation for how we will realise the opportunities we see for individuals, businesses and the country to be more prosperous and competitive.

As part of that, we need the right policy and regulatory settings to make sure we can roll out largescale digital infrastructure projects more quickly and efficiently.

Outlook and Connected Future 30

Trends indicate that demand for connectivity will only grow. Our core connectivity business is strong, with a unique set of competitive advantages that mean we are well placed to lead through this next period of technological change, and we have established a strong track record of disciplined delivery through T22 and T25. This has laid the foundation for our Connected Future 30 strategy, which will see us adapt and lead to shape the future of connectivity.

We are focussed on continuing to deliver value for our shareholders, including through our core business cash flow, active portfolio and investment management, and disciplined capital management.

Our ambition is to be the number one choice for connectivity in Australia, and to continue delivering on our purpose to build a connected future so that everyone can thrive.

FY26 guidance

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Below statements attributable to Telstra CFO Michael Ackland

We have reflected the metrics we outlined at our recent Investor Day in our guidance, as we focus on driving cash earnings as part of our strategy to create value. Underlying EBITDA has been replaced with Underlying EBITDA after lease amortisation – or EBITDAaL – reflecting a broader measure of costs in our business.

We are guiding on Cash EBIT in FY26, which is made up of underlying EBITDAaL, business-as-usual capex, and spectrum amortisation. Cash EBIT is a close proxy for Free Cash Flow and drives management focus on all of these costs.

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Market Release

Further material available via www.telstra.com.au/aboutus/investors

Telstra media contact: Telstra investor contact: Steve Carey Nathan Burley +61 413 988 640 +61 457 529 334 media@team.telstra.com investor.relations@team.telstra.com Media reference number: 014/2025

1 Underlying EBITDA and Underlying NPAT exclude guidance adjustments. Guidance adjustments include material one-offs, such as mergers and acquisitions, disposals, impairments, spectrum, restructuring costs and such other items as determined by the Board and management. Refer to Full-year results and operations review - guidance vs reported results reconciliation which details the adjustments made for the current and comparative period to reflect performance on the basis on which we provided guidance to the market for FY25 (set out in our ASX announcement titled “Financial results for the full-year ended 30 June 2025” lodged with the ASX on 14 August 2025)

2 Cash EPS defined as cash earnings (underlying EBITDA after lease amortisation, less BAU capex, spectrum amortisation, finance costs, tax and minorities) per share.

3 ROIC calculated as Net Operating Profit After Tax (NOPAT) as a percentage of total capital.

4 Underlying ROIC calculated as NOPAT as a percentage of total capital, excluding guidance adjustments (as defined above) less tax.

5 Total dividend includes fully franked interim dividend of 9.5 cents and final dividend of 9.5 cents.

6 This guidance excludes material one-offs, such as mergers and acquisitions, disposals, impairments, spectrum, restructuring costs and such other items as determined by the Board and management.

7 Underlying EBITDA after Lease amortisation (EBITDAaL) excludes guidance adjustments. Lease amortisation was $600m in FY25. We expect lease amortisation to remain broadly the same in FY26.

8 BAU capex is measured on an accrued basis and excludes spectrum, guidance adjustments, strategic investment, externally funded capex and capitalised leases.

9 Cash EBIT is Underlying EBITDAaL less BAU capex and spectrum amortisation and excludes guidance adjustments. Spectrum amortisation was $321m in FY25.

10 Strategic investment capex is measured on an accrued basis and relates to the Intercity Fibre Network and Viasat projects.

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