ELECTRONIC LODGEMENT

Dear Sir or Madam

Telstra appoints new CFO

In accordance with the Listing Rules, I attach a market release, authorised for lodgement by the CEO, for release to the market.

Yours faithfully,

Sue Laver

Company Secretary

MARKET RELEASE

Telstra appoints Michael Ackland as its new Chief Financial Officer

Monday 2 May 2022 - Telstra today announced the appointment of Michael Ackland to the role of Chief Financial Officer and Group Executive Strategy & Finance effective from 1 September 2022.

Michael is currently Group Executive for Consumer & Small Business and will take over from Vicki Brady when she starts in the role of Chief Executive Officer.

Vicki said she was pleased to announce Michael as CFO given his strong financial and commercial acumen as well as his deep strategic and operational knowledge of the Telstra business.

"I was thrilled that we were able to appoint an internal candidate to the role - Michael has exceptional credentials and is well placed to continue to drive Telstra's financial outlook and success.

"He has strong telecommunications experience and his combination of skills will benefit the CFO role greatly. I look forward to partnering with Michael from 1 September," she said.

CEO Andrew Penn said he was delighted with Vicki's appointment of Michael after his successful leadership of Telstra's Consumer & Small Business group through one of its most challenging periods.

"Michael has been instrumental in driving T22 changes, including reducing consumer and small business in-market plans from 1800 to 20, as well as improving consumer and small business customers' digital experience and decreasing call volumes and complaints.

"His part in the transformation was also delivered while we were managing significant COVID impacts for our customers and our people.

"Michael's appointment to the CFO role also reinforces the strength of our internal talent and I look forward to continuing to work closely with him as we close out T22," he said.

Michael was appointed Telstra's Group Executive, Consumer & Small Business in April 2019, after acting in the role since September 2018.  He joined Telstra in 2016 as Executive Director of Telstra Country Wide, responsible for more than 350 retail stores and 16,000 partners nationally before leading Telstra's consumer and small business sales and service channels.

Michael joined Telstra from GE, where he was CEO GE Healthcare, Australia and New Zealand. This followed executive leadership roles across GE's Australia and New Zealand business, including financial services, corporate and healthcare divisions. Prior to GE, Michael was Principal at Boston Consulting Group, where he worked for eight years.

Michael holds a Bachelor of Commerce and a Bachelor of Chemical Engineering from the University of Melbourne.

Telstra will now commence an internal and external recruitment process for the role of Group Executive Consumer & Small Business.

Telstra media contact: Steve Carey, Media Relations

M: +61 413 988 640

E: media@team.telstra.com 

Reference number: 038/2022 

Telstra investor contact: Nathan Burley, Investor Relations

T: +61 457 529 334

E: investor.relations@team.telstra.com