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Section B: Notes to the Group financial statements for the year ended 30 June 2026
B25 Subsequent events NSW Toll reform
On 3 August 2026, the Group announced that the Direct Deal for proposed NSW toll reform had been finalised between the NSW Government and the concessionaires of private NSW toll roads, variously owned by the Group and its investment partners. Implementation of the reforms is subject to the parties entering formal documentation and the satisfaction of conditions precedent, including financier consents and regulatory approvals. The proposed reform package as announced on 3 August 2026 is expected to affect future tolling arrangements and concession cash flows. It includes a $0.5 billion payment for Hills M2 promissory notes and a $0.1 billion payment for Eastern Distributor concession notes by entities in the Group, and net $0.6 billion of equalisation payments from the NSW Government in favour of affected concessionaires over future periods (all balances presented on a 100% concession basis). Further detail is contained in the Group’s ASX announcement of 3 August 2026. No adjustment has been recognised in these financial statements as at 30 June 2026. The reform package was announced as preserving the value of existing concession contracts without negatively impacting Transurban's near-term distributions. The specific accounting outcomes will depend on the terms of the formal documentation that is executed and the timing of satisfaction of conditions precedent. This subsequent event is not considered an indication that the Group’s impacted concession intangible assets or equity accounted investments were impaired as at 30 June 2026. Other than as disclosed elsewhere in this report, there have been no other events subsequent to the reporting date that require adjustment to or disclosure in the Group's financial statements.
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