Transurban FY26 Corporate Report Financial statements
Section B: Notes to the Group financial statements for the year ended 30 June 2026
B20 Equity accounted investments (continued) Joint Ventures (continued) TC (50% ownership interest) The Group has a 50% ownership interest in TC.
TC owns 100% of the entities that developed, built, financed and now operate and maintain the 95 Express Lanes (including the Fredericksburg Extension), 395 Express Lanes and 495 Express Lanes (including the NEXT extension) in the Greater Washington Area of the United States of America. The following entities are part of TC:
• Transurban Chesapeake LLC (responsible for corporate operations); • Capital Beltway Express LLC (the operator of the 495 Express Lanes); and • 95 Express Lanes LLC (the operator of the 95 Express Lanes).
KEY ACCOUNTING ESTIMATE AND JUDGEMENT Management’s assessment that the Group does not control TC has been made by considering the terms of the Purchase Agreement signed by the TC partners, which requires a supermajority vote of at least 77.5% of all shareholders for decisions on significant relevant activities. Considering this, and among other factors, management have concluded that the Group, together with the other TC partners, jointly controls TC and its controlled entities. A25 (50% ownership interest until disposal in June 2026) In June 2026, the Group disposed of its remaining 50% ownership interest in Skawanoti Holdings LP to its existing joint venture partner, La Caisse. Prior to disposal, Skawanoti Holdings LP held 100% of the ownership interest in the A25 Group. The A25 Group held the concession to operate and maintain the A25 toll road in Montreal, Canada.
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