Governance and risk
Directors' Report
Financial statements
Assurance statements
Security holder information
Introduction Business performance Stakeholders Sustainability
Contents
Partnering with government As a leading global road operator, we partner with government and industry to develop transport solutions that support safe and reliable urban mobility and connectivity. Throughout FY26, we engaged actively with representatives across the political spectrum including supporting the formation of Queensland Parliamentary Friends of Road Safety – the state's first parliamentary road safety group. Transurban has also partnered with the Queensland Department of Transport and Main Roads and the Motor Accident Insurance Commission – Queensland University of Technology Road Safety Research Collaboration on a research project investigating tailgating behaviour using our on-road data. We also continued our support of the Parliamentary Friend of Electric Vehicles and Future Fuels Transport, a bipartisan group of Federal MPs focused on addressing the barriers slowing Australia’s transition to electric vehicles. During the year, we also made our seventh annual contribution of approximately USD18 million to the Northern Virginia Transportation Commission’s Commuter Choice Program. This brings our total investment to approximately USD130 million since 2019, supporting transit infrastructure and service improvements, including bus lanes, park-and-ride facilities, and commuter rail services, along the I-95 and I-395 corridors. Delivering new connections In FY26, we successfully completed three major infrastructure projects, delivering critical new capacity across Melbourne, Sydney, and the Greater Washington Area (GWA). Delivering these city-shaping projects calls for close coordination with government departments, local councils, and our construction partners. By working to align our delivery goals with government transport strategies, our aim is that these new roads can support the long-term growth and connectivity of our cities. We also advanced our broader development pipeline, including progressing procurement for a design and construct contractor on Logan West Upgrade. See page 8 for more details.
Political contributions Transurban Group does not make political donations or contributions of any nature to any political party, politician, elected official or candidate for public office in Australia. In the US, payment is permitted for attendance at political events under certain circumstances. In FY26, USD97,000 was spent in the US to participate in events relevant to our business. All political contributions are disclosed in line with relevant government and regulatory requirements. In Canada, corporate political contributions are prohibited and accordingly none were made. Supporting transport decarbonisation To assist transport decarbonisation and accelerate transition pathways for zero-emission freight, we partnered with Linfox and the Victorian Department of Transport and Planning on a landmark trial of heavy electric prime movers. These zero-emission Volvo electric trucks, which exceed standard steer-axle weight limits, were granted access to CityLink. including the Bolte Bridge and the Burnley and Domain tunnels. Following the opening of the West Gate Tunnel, we worked with the Victorian Department of Transport and Planning and the National Heavy Vehicle Regulator to expand this trial to include the Bundawanh and Eureka tunnels. By utilising our highly monitored managed motorways rather than local suburban streets, these heavy EVs can avoid congested arterials and save up to 32 minutes per trip. 1 The trial provides critical data to help government, regulators, and industry establish future low- or zero-emissions heavy vehicle networks.
Case study Progressing NSW toll reform
In August 2026, the NSW Government announced that the Direct Deal for proposed toll reform has been finalised. This comprehensive toll reform package is expected to deliver real savings for Sydney drivers while protecting the $36 billion investment made by Transurban and our partners over the last 20 years. Key changes include lower tolls on four motorways, half-price tolls for motorcycles, and two- way tolling on the Eastern Distributor. It also includes the proposed government-funded widening of a section of the M7 and M2 2 (see page 8) and a shift to digital notices that will save millions of paper letters each year. Implementation of these reforms is subject to definitive agreements and a range of approvals. 3 ¢ 2,3
1 Travel time savings between Bulla Road and Toorak Road via CityLink during the morning peak, compared to the free alternative route. All times are averages and are estimates based on TomTom data for an average weekday peak periods 2 Proposed Widening of the M7 between Richmond Road and the M2, and of the M2 from the M7 to Windsor Road subject to the widening project business case, the parties entering into agreements and the satisfaction of conditions precedent under those agreements, including planning approvals, financier consents and Government investment decision 3 Subject to the parties entering formal documentation, and the satisfaction of conditions precedent under those agreements, including financier consents and regulatory approvals. Final Government and concession holder approvals and execution of formal transaction documents are expected by the second half of 2026
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