Governance and risk
Directors' Report
Financial statements
Assurance statements
Security holder information
Introduction Business performance Stakeholders Sustainability
Contents
About Transurban Our business is all about getting people where they want to go, as quickly and safely as possible, now and into the future.
Our business model We create value by starting with our customers on and off the road, and by developing, operating and maintaining high-quality roads in major cities. Our revenue comes primarily from tolls collected from our portfolio of high-quality assets, backed by long duration government concessions which include embedded inflation protection, alongside a disciplined approach to managing the balance sheet. Our weighted average concession life is ~27 years. 1 We can’t do this alone. Our business relies on strong partnerships with our customers, government and industry, investors, communities, business partners and suppliers, and our people. These stakeholders help us deliver great services and run our business safely today, and sets us up for future growth.
Every day, millions of people across Australia and North America choose to take our roads. As cities grow, more people and businesses will need faster, safer and easier ways to get around. That’s why our purpose is to be the link between people, places and progress . We bring this to life by making a positive difference – both on and off the road – through our physical infrastructure and digital offerings, now and into the future. Our strategy centres on three interconnected pillars – creating value for stakeholders, pursuing growth and driving operational efficiency . Creating value for our customers and stakeholders positions us to deliver the next generation of sustainable growth. And running our business efficiently allows us to reinvest in our customers and roads, creating a solid foundation for growth.
The table below outlines our key upstream and downstream value chain relationships and own operations. Our purpose Why we exist Be the link between people, places and progress
Our values How we act
Start with our customer Show up with an open mind
Solve it together Set the standard
Our strategic priorities What we’re focused on
Creating value for our stakeholders Pursuing growth Driving operational efficiency
Geography Where we operate Our stakeholders Who we work with
22 roads across Melbourne, Sydney and Brisbane in Australia, and the Greater Washington Area (GWA) in the United States 2
Customers, investors, governments and industry, communities, our people, business partners and suppliers
Our value chain What we do Upstream of operational assets Develop roads
Our operations Operate roads
Downstream operational assets Deliver for our stakeholders • Customer experience, rewards and hardship support • Support government and community • End-of-life asset management
• Identify opportunities: – enhancements
• Maintenance • Safety and incident response • Sustainability and environmental management • Technology and innovation • Collect toll revenue
– greenfield – brownfield • Appoint project design; delivery and construction
1 Proportional historical revenue-weighted average concession life 2 In June 2026, Transurban sold its remaining 50% interest in the A25 concession
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