RCS - Telstra Corp. Ld - Telstra secures mid-band spectrum

TelstraAnnouncement

23/11/2023 08:15

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RNS Number : 3954U  Telstra Corporation Ld  23 November 2023

 23 November 2023

                   Office of the Company Secretary

 RNS               Level 41

242 Exhibition Street

MELBOURNE VIC 3000

AUSTRALIA

                   General Enquiries    613 8647 4838

                   companysecretary@team.telstra.com (mailto:companysecretary@team.telstra.com)

                   Investor Relations

                   Tel:  1800 880 679

                   investor.relations@team.telstra.com

ELECTRONIC LODGEMENT

 

 

Telstra secures mid-band spectrum

 

In accordance with the Listing Rules, the following market release titled
"Telstra secures mid-band

spectrum " by Telstra Group Limited is provided for the information of Telstra
Corporations Limited

noteholders.

 

Authorised for lodgement by:

 

 

Sue Laver

Company Secretary

 

MARKET RELEASE

 

Telstra secures additional 5G mid-band spectrum for long-term

network differentiation

23 November 2023 - Telstra has successfully secured up to 110 MHz of
additional 'mid band' spectrum in the 3.4 / 3.7 GHz spectrum auction held by
the Australian Communications and Media Authority, which finished on Tuesday.

Telstra invested $546 million in this spectrum to deliver even better 5G
experiences to mobile customers across most parts of Australia through an
additional 55 to 110 MHz of spectrum. This included securing an additional 80
MHz of spectrum in the key capital city markets of Sydney and Melbourne.

Telstra acquired a large proportion of the available spectrum at a highly
competitive price, setting up its mid-band spectrum assets for the next 20
years. Critically, the spectrum acquired is the foundation for increasing
capacity to support growing demand across metro and regional areas and will
enable a significant enhancement in customer network experience and speed.

Telstra CEO Vicki Brady said the additional mid-band spectrum means more
Telstra customers will enjoy an even better 5G experience as the new spectrum
is deployed.

"5G has completely changed how we use mobile devices and we continue to see
customers' demand for data growing. Adding this mid-band spectrum to our
network means our customers will get an even better and more consistent mobile
experience through more capacity to carry data," said Ms Brady.

"This investment moves our mobile leadership forward and enables Telstra to
continue to pioneer future capabilities and generations of mobile technology
for Australia. Alongside our existing spectrum holdings, the additional 55 to
110 MHz means we'll continue to differentiate ourselves in a competitive
market.

"It's particularly pleasing that we've also secured a significant amount of
spectrum covering large parts of regional Australia. This will mean that even
more customers in more places will enjoy our world-leading 5G network."

Telstra has Australia's largest 5G network, covering more than 85 per cent of
the Australian population and available through nearly 5,000 sites in over 450
cities and towns across the country. Mid-band 5G spectrum is used by almost
all 5G mobile devices, and spectrum in the mid-band already carries the
majority of traffic on Telstra's 5G network.

The 3.4 / 3.7 GHz auction is expected to be the final allocation of new
mid-band spectrum licences by the ACMA for the foreseeable future. The new
licences will be for a duration of 20 years in the 3.7 GHz band and seven
years in the 3.4 GHz band. Telstra expects to gain access to the new 3.4 GHz
spectrum almost immediately and the 3.7 GHz spectrum in early 2024, with
customers set to benefit as the spectrum is progressively deployed into the
network. Payments to the ACMA will be due this financial year and are excluded
from Telstra's FY24 guidance on free cashflow after lease payments (FCFaL) of
$2.8 to $3.2 billion(( 1  (#_ftn1) )).

-ends-

 

 Telstra media contact:                                          Telstra Investor contact:

 Steve Carey, General Manager Media                              Nathan Burley, Head of Investor Relations

 M: +61 413 988 640                                              M: +61 457 529 334

 E: media@team.telstra.com (mailto:media@team.telstra.com)       E: investor.relations@team.telstra.com
                                                                 (mailto:investor.relations@team.telstra.com)

 

Reference number: 050/2023

 

 1  (#_ftnref1) Free cashflow after lease payments defined as 'operating cash
flows' less 'investing cash flows' less 'payments for lease liabilities' and
excludes spectrum and guidance adjustments

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