• Follows completion of $750 million buy-back in June 2025
• Enabled by earnings growth and strong balance sheet
• Consistent with Telstra's capital management framework

Telstra has announced an additional on-market share buy-back of up to $1 billion, following the completion of a $750 million on-market buy-back in June 2025. Telstra CEO Vicki Brady stated that the buy-back, enabled by earnings growth and a strong balance sheet, is consistent with Telstra's capital management framework and demonstrates the Board and management's confidence in the company's financial strength and outlook. Telstra reiterated its commitment to balance sheet settings consistent with an A band credit rating, with FY25 net debt to EBITDA of 1.9 times within its comfort zone of 1.75 to 2.25 times. Telstra will evaluate the feasibility of future share buy-backs within the context of its Connected Future 30 strategy and capital management framework. The on-market share buy-back is expected to commence after 8 September 2025 and will be conducted in the ordinary course of trading over financial year 2026, with the exact amount and timing dependent on market conditions.

Telstra has established a strong track record of delivery across T22 and T25, which has laid the foundation for its Connected Future 30 strategy. The increased total dividend and further share buy-back reflect the confidence the company has in the business now and into the future.