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Section D: Notes to the THT and TIL financial statements for the year ended 30 June 2026
D11 Financial risk management and derivative financial instruments (continued) Liquidity risk Contractual maturities of financial liabilities The table below shows the maturity profile of THT’s and TIL’s financial liabilities and includes derivative financial liabilities as well as derivative financial assets as these are directly relevant for an understanding of the contractual cash flow commitments. The cash flows disclosed in the below table are the contractual undiscounted future cash flows including principal and interest payments and therefore will not reconcile to the amounts disclosed in the consolidated balance sheet. For further information refer to Note B14. THT
Total contractual cash flows
2026
1 year or less
Over 1 to 2 years
Over 2 to 3 years
Over 3 to 4 years
Over 4 to 5 years
Over 5 years
Carrying amount
$M Trade payables
76
—
—
—
—
—
76
76
Borrowings¹
1,035
1,784
929
1,286
1,129
5,009 2,578
11,172
8,877 3,128
Related party payables Interest rate swaps²
137
69
1,388
4
4
4,180
(46) (70)
(41) (91)
(34) (18)
(32)
(19) (27)
(65) (57)
(237) (242)
(205) (400)
Cross-currency interest rate swaps¹
21 —
Concession liabilities
—
—
—
—
312
312
111
Total
1,132
1,721
2,265
1,279
1,087
7,777
15,261
11,587
2025 $M Trade payables 3
79
—
—
—
—
—
79
79
Borrowings¹
1,242 1,033
930 100
1,611
857
1,185
4,424 1,707
10,249
8,512 4,237
Related party payables 3 Interest rate swaps²
100
1,722
23
4,685
(22)
(7)
(13)
(19) (50)
(22)
(71)
(154) (595)
(124) (688)
Cross-currency interest rate swaps¹
(116)
(110)
(153)
17 —
(183)
Concession liabilities
—
—
—
—
297
297
97
Total
2,216
913
1,545
2,510
1,203
6,174
14,561
12,113
1. Cash flows have been estimated using spot translation rates at the end of the reporting period. 2. Cash flows have been estimated using forward interest rates at the end of the reporting period. 3. Comparative amounts have been restated to align with the carrying amount of the liability at 30 June 2025.
TIL
Total contractual cash flows
2026
1 year or less
Over 1 to 2 years
Over 2 to 3 years
Over 3 to 4 years
Over 4 to 5 years
Over 5 years
Carrying amount
$M Trade payables
10 32
— —
— —
— —
— —
— —
10 32 10 52
10 32
Related party payables
Lease liabilities
1
1 1
1 1
1 1
1 1
5 5
9
Total
43
51
2025 $M Trade payables
8
—
—
—
—
—
8
8
Related party payables
40
6 1 7
6 1 7
6 1 7
6 1 7
155
219
136
Lease liabilities
1
7
12
10
Total
49
162
239
154
Fair value measurements Financial instruments are measured either at fair value or their carrying amount approximates fair value, except for borrowings, related party receivables and payables, and financial assets (including concession notes and shareholder loan notes) which are subsequently measured at amortised cost. Refer to Note B14 for details on fair value measurements.
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