Announcement

GENERAL: TLS: Vesting of 'retention rights' to eligible employees 10:54a.m. 
TLS  
15/01/2020 10:54  
GENERAL  
NOT PRICE SENSITIVE  
REL: 1054 HRS Telstra Corporation Limited  
 
GENERAL: TLS: Vesting of 'retention rights' to eligible employees  
 
During FY19, Telstra made a one-off issue of 13,245,705 'retention rights' to  
eligible employees.  
 
Each 'retention right' provides its holder with a right to receive a Telstra  
share if the 'retention right' vests. The 'retention rights' are not quoted  
on the ASX.  
 
As required under ASX Listing Rule 3.10.3B, Telstra confirms that 5,115,570  
of those 'retention rights' vested on 31 December 2019 in accordance with  
their terms of issue, and that the Telstra shares provided to holders on  
vesting of those rights were acquired on-market.  
 
As at the date of this announcement, 7,673,385 of 'retention rights' remains  
outstanding.  
End CA:00347126 For:TLS Type:GENERAL Time:2020-01-15 10:54:31  

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