Governance and risk
Directors' Report
Financial statements
Assurance statements
Security holder information
Introduction Business performance Stakeholders Sustainability
Contents
Investment partners
Our global road operator expertise and our project delivery capability attract quality investment partners.
We have seven investment partners across 17 assets (Figure 2). Our investment partners operate or own infrastructure assets across the globe and have more than $2.4 trillion in collective funds under management or net assets.
Our partners include leading global pension funds and infrastructure investors who benefit from our high-quality asset portfolio. The direct asset funding our investment partners provide enables us to access new markets and assets, with less reliance on the Transurban balance sheet.
Figure 2 – Our investment partners Investment partnership
Partners
Assets
Transurban, AustralianSuper, CPP Investments, La Caisse and Platinum Tawreed Investments
Sydney Transport Partners
WestConnex
Airport Motorway
Transurban, IFM Investors and UniSuper
Eastern Distributor
NorthWestern Roads Group
Transurban, CPP Investments and QIC
Westlink M7, NorthConnex
Transurban, AustralianSuper, CPP Investments and UniSuper
I-495 Express Lanes, I-95 Express Lanes, I-395 Express Lanes 1,2
Transurban Chesapeake
Skawanoti 3
Transurban and La Caisse
A25
Transurban, AustralianSuper, Platinum Tawreed Investments
AirportlinkM7, Clem7, Gateway Motorway, Go Between Bridge, Legacy Way, Logan Motorway
Transurban Queensland
Our investment proposition
Supportive long-term trends Population growth across all markets is expected to drive increased traffic demand over the decades ahead
High-quality asset portfolio Customer base of 11.8 million across four diverse regions, containing 22 high-quality assets, delivering underlying Free Cash to support distributions 4
Well-positioned for an inflationary environment Inflation-linked toll escalations and the Group’s hedging profile is expected to help insulate the Group in a higher inflationary environment
Growth options within our core business Projects aligned with government in Australia and the US. See page 8
Focus on customer value and innovation Targeted investment in early-stage development projects, technology and customer platforms
Balance sheet management provides near-term interest rate protection Well-managed weighted average cost of debt through active balance sheet management and hedging
1 495 Express Lanes concession includes the 495 Express Lanes Northern Extension Project 2 95 Express Lanes concession includes the Fredericksburg Extension 3 In June 2026, Transurban sold its remaining 50% interest in the A25 concession 4 Number of customers refers to the number of both account and pass holders in Australia, and individual users in North America each year
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