Transurban FY26 Corporate Report Financial statements
Section B: Notes to the Group financial statements for the year ended 30 June 2026
Capital and borrowings Capital management
The Group's objectives when managing capital are to safeguard its ability to continue as a going concern and to maintain an optimal capital structure to reduce the cost of capital, so that it can continue to provide returns to security holders and benefits for other stakeholders. The approach to capital management seeks to balance growth in distributions to investors and investments to create long-term value. The Group’s cash flows support security holder distributions, and investment opportunities are funded through a combination of debt and equity funding. Management monitor covenants and forecast cash flows to ensure ongoing compliance with its obligations which supports capital management decisions including distributions.
B10 Contributed equity
2026
2025
$M
$M
Fully paid stapled securities
4,070
4,037
Stapled securities Stapled securities entitle the holder to participate in distributions and share in the proceeds upon winding up of the Group in proportion to the number of securities held. The issued securities of the Group are made up of a parcel of stapled securities, each parcel comprising one share in THL, one unit in THT and one share in TIL. The individual securities comprising a parcel of stapled securities cannot be traded separately. At a general meeting of security holders, in relation to a resolution of THL or TIL determined by a poll, each security holder present at the meetings in person or online, or by proxy, attorney or representative has one vote for each fully paid ordinary share and, in relation to a resolution of THT determined by a poll, each security holder present at the meetings in person or online, or by proxy or representative has one vote for every dollar of the value of the total interest they have in THT. Other contributed equity and issued units attributable to security holders of the Group relating to THT and TIL of $19,818 million and $1,099 million, respectively (2025: $19,711 million and $1,079 million respectively) is included within non-controlling interests (NCI). Refer to Note B21.
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