ELECTRONIC LODGEMENT

Dear Sir or Madam

Group Executive role changes

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

Authorised for lodgement by:

Sue Laver

Company Secretary

Telstra Corporation Limited

ACN 051 775 556

ABN 33 051 77

MARKET RELEASE

Group Executive role changes at Telstra

27 October 2020 -  Telstra today announced a number of changes to its Group Executive roles which report to CEO, Andrew Penn.

Michael Ebeid who has been Group Executive for the Enterprise business for the past two years will be leaving Telstra to pursue other business interests and will be replaced by David Burns who currently leads Telstra Global Business Services. Dean Salter, Chief Operating Officer, Jetstar Airways has been appointed Group Executive, Global Business Services replacing David.

Telstra CEO, Andrew Penn said Michael had overseen an important period of change for the Enterprise business as it adapted to a dynamic and changing market.

"Michael has led the team in delivering its T22 priorities as well as transforming our Enterprise products and services to better meet customer needs and respond to an environment that is changing at an ever increasingly rapid pace including launching Telstra Purple and our recent adaptive networks announcement. Michael also led a significant improvement in Enterprise employee engagement during his time," said Mr Penn.

"I want to thank Michael for the significant role he has played during this period and the contribution he has made to Telstra Enterprise and our broader business and we are sorry to see him go."

Mr Penn said David would bring a wealth of experience to the role of Group Executive for Enterprise.

"David has been with Telstra for more than 8 years and has had previous roles in Enterprise leading the Network Applications and Services (NAS) business as well as our International operations. He was appointed to a Group Executive role in August 2018 leading our Global Business Services organisation which was a critical part of our T22 strategy," said Mr Penn.

"David is known for his strong customer focus and results orientation and this combined with his deep understanding of the Enterprise business from his time at Telstra and many years at IBM, will enable him to step into the role and build momentum on the significant transformation already underway.

"I am also announcing that Dean Salter will be joining us as Group Executive for the Global Services Business to succeed David in his current role. Dean has spent the last four years as Chief Operating Office at Jetstar where he has driven a step change in performance improvement across the global operation. This included process reengineering, strategic cost transformation, industrial relations strategies, new product development and major organisational restructuring. Prior to Jetstar, Dean spent over 10 years at BP in a broad range of roles including strategy, sales and supply and logistics. Dean will join Telstra no later than March next year and in the interim, GBS executive Andrew McPherson will lead the team.

"I wish Michael well and thank him for the contribution he has made, and I congratulate both David and Dean on their appointments."

Media contact: Jon Court, +61 (0) 408 423 516

Email: media@team.telstra.com

Investor contact: Ross Moffat, +61 (0) 475 828 700

Email: investor.relations@team.telstra.com

Ref number: 117/2020