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Section D: Notes to the THT and TIL financial statements for the year ended 30 June 2026
Basis of preparation and significant changes D1 Summary of significant changes in the current reporting period Refer to Note B2 for the significant changes in the current reporting period.
D2 Basis of preparation The Transurban Holding Trust Group consists of Transurban Holding Trust and the entities it controls (THT) and the Transurban International Limited Group consists of Transurban International Limited and the entities it controls (TIL). THT and TIL form part of the stapled Transurban Group. Transurban Holding Trust is registered as a managed investment scheme under Chapter 5C of the Corporations Act 2001 (Cth), and as a result requires a responsible entity. The responsible entity of Transurban Holding Trust is Transurban Infrastructure Management Limited (TIML). TIML is responsible for performing all functions that are required under the Corporations Act 2001 (Cth) of a responsible entity. The Transurban Holding Trust was established on 15 November 2001 and has no termination date. The Trust was registered as a managed investment scheme by the Australian Securities and Investments Commission on 28 November 2001. Transurban Holding Trust is a Trust registered and domiciled in Australia. Transurban International Limited is a public company limited by shares and incorporated in Australia. Going concern The financial statements have been prepared on a going concern basis, which assumes the continuity of normal operations, in particular over the next 12 months from the financial statement release date on 13 August 2026. This is notwithstanding that the consolidated balance sheet of THT indicates a net current liability position as at 30 June 2026 of $1,359 million (2025: $2,127 million). Excluding related party payables, THT is in a net current liability position of $1,132 million (2025: $353 million). TIL's consolidated balance sheet indicates a net current asset position as at 30 June 2026 of $189 million (2025: $239 million) and net asset position of $3,086 million (2025: $3,155 million). There are no events or conditions that cast significant doubt on TIL's ability to continue as a going concern for the 12 months from the date of this report. In determining the appropriateness of the going concern basis of preparation, management have considered the uncertainties related to the macroeconomic environment on THT's liquidity and operations. Management consider near-term interest rate fluctuations to be primarily limited to new borrowing facilities due to THT's hedging policy and profile. In addition, a number of THT's toll roads have toll escalations of CPI or greater which provides revenue protection in an inflationary environment. Management have assessed THT's cash flow forecasts and the ability to fund its net current liability position as at 30 June 2026. This assessment indicates that THT is expected to be able to continue to operate within available liquidity levels and the terms of available borrowing facilities, and to fund its net current liability position as at 30 June 2026 for the 12 months from the date of this report. Management forecast that THT is not expected to breach any financial covenants within the 12 months from the date of this report. Financial covenant forecasts utilised the same underlying cash flow forecasts as those used in the going concern assessment. Non-recourse debt financial covenants are calculated on a trailing 12-month basis. Management have also taken the following matters into consideration in forming the view that THT is a going concern: • THT has generated positive cash inflows from operating activities of $793 million (2025: $820 million) for the year ended 30 June 2026; • THT expects to refinance or repay with available cash all borrowing facilities classified as a current liability as at 30 June 2026. Under the security arrangements for these borrowing facilities, each entity of THT is able to provide direct and/or indirect support to each other entity and its controlled entities within the Transurban Group; and • Payment of future distributions remains at the discretion of the Board. Refer to Note B3 for further information on the basis of preparation for the Transurban Group.
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