Transurban FY26 Corporate Report Introduction
Letter from our Chair and CEO
— Chair Craig Drummond and CEO Michelle Jablko
We are pleased to present Transurban’s Corporate Report for FY26. This year marks 30 years since Transurban listed on the ASX – three decades of keeping people, freight and cities moving, and fulfilling our purpose: to be the link between people, places and progress .
by Free Cash, which rose by 5.1%. 2 We declared $2,151 million of gross distributions to security holders. Our roads proved relatively resilient in the face of macroeconomic and geopolitical uncertainty and we navigated these headwinds by remaining focused on our customers, their safety and delivering value for all our stakeholders. Our embedded escalations linked to revenue and well managed hedging profile is expected to help insulate the business in a higher inflationary environment. Through disciplined cost and balance sheet management, our hard work over the past two years has seen Transurban evolve into a more efficient, dynamic business and as a result we are well-positioned to capitalise on new opportunities. Creating value for stakeholders This year we achieved much of what we set out to do – delivering on our most critical strategic priorities and establishing a scalable foundation for growth. The Direct Deal with the NSW Government for proposed toll reform was finalised in August 2026. The comprehensive package is expected to modernise Sydney's motorway system, to deliver a simpler and more efficient network.
We have always been innovators. In our early years, we delivered Australia’s first free-flowing electronically tolled road, eliminating the stop-start of toll booths and making trips quicker. After thirty years, we're still finding new ways to make our customers’ experience better and deliver real value every day. We are also investing in new projects that increase capacity, make travel easier and better connect our cities. On the road, our traffic management and incident response teams made travel safer and more predictable, responding to around 1,000 incidents every week. Across all our roads customers saved an average 515,200 hours every day. 1 Off the road, we made things simpler by connecting our infrastructure with digital tools, such as the travel time features available in our Linkt app, creating a more transparent, personal experience. Financial performance While traffic was influenced by macroeconomic and geopolitical impacts, particularly within Australia, traffic volumes increased by 2.2% 2,3 across the Group. This contributed to proportional total revenue rising 6.5% 2 and proportional operating EBITDA up 7.5% to $3,063 million, 2 compared to FY25. Our full-year distribution increased 6.2% to 69.0 cents per stapled security (cps) compared to the prior year. This was 98.1% covered
1 Travel time savings are calculated using TomTom travel times observed on a tolled route and the corresponding alternative route based on best estimated available alternative route that avoids tolls and favours main roads. The savings are calculated by comparing the difference in time between the routes for each hour and direction and are then weighted based on the volume of tolled traffic. Additionally an adjustment to account for the average trip observed on the various assets is incorporated 2 Non-IFRS measure 3 ADT growth on a like-for-like basis (ex. WGT) was +1.4% for the Group. FY26 ADT percentage movements have been adjusted to normalise: (i) the WGT opening impact for Group and Melbourne, by assuming WGT operated for the full FY26; and (ii) the A25 sale impact for Group and North America. WGT opened on 14 December 2025 and Transurban sold its remaining 50% interest in the A25 concession on 15 June 2026
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