Governance and risk
Directors' Report
Financial statements
Assurance statements
Security holder information
Introduction Business performance Stakeholders Sustainability
Contents
Change in threat within FY26
Threat
Trend
Example management responses
Geopolitical, macro-economic and stakeholder uncertainties Geopolitical volatility and macroeconomic uncertainty could influence our strategic and operational outcomes. Sustained cost-of-living pressures can weaken consumer confidence, increase customer sensitivity to tolls and fees, and ultimately impact revenue and the social licence to operate. Concurrently, geopolitical tensions could drive adverse regulatory changes, while global conflicts could disrupt supply chains, ultimately leading to operational disruptions and increased costs. Litigation challenges We may be adversely impacted by ongoing and potential court proceedings, disputes and third- party claims. Litigation is often complex and subject to uncertainty, with the final outcome or determination (together with associated timing and financial impacts) difficult to accurately predict. Cyber security and information protection Failure to appropriately manage, govern and protect customer and company data and systems from cyber threats could result in data loss, customer harm and operational disruption.
Enhanced rating reflects increasing geopolitical and macro-economic uncertainties and their potential impacts on its stakeholders and social license
• Scenario analysis and stress testing are embedded in FY27 budgets and funding frameworks. • Executive oversight, clear escalation pathways, proactive cost management, and ongoing reviews of critical spares, technology, and suppliers. • Engagement with governments, industry bodies, partners, investors, and suppliers to mitigate impacts and strengthen operational resilience. • Ongoing monitoring of economic conditions and business performance. • Early identification of emerging pressures and timely response to changing conditions. • Continued delivery of Linkt Assist hardship programs, supported by transparent payment options and ongoing reviews of billing practices and fees. • Ongoing initiatives to support customers and stakeholders, including supplier support, community grants, and customer relief programs. • Price transparency is supported through digital tools, including Trip Compare and AI Journey Planner, alongside targeted customer value initiatives such as fuel discount partnerships. • Voice of Customer programs provide ongoing insights into customer issues and emerging trends. • • • Collaborative and proactive management of stakeholder relationships, projects and obligations. • The Group is focussed on orderly dispute management to minimise operational distraction. • Regular reviews to consider potential issues, identify/evaluate the likelihood of disputes emerging, and adopt appropriate risk mitigation strategies. • When appropriate, the Group engages in constructive, confidential dialogue to explore potential commercial resolution. • Implementation and operation of a Cyber Security Framework aligned to industry standards to protect against cyber-attacks and disruption • Review and management of cyber risks and threats, and provide regular reporting on key cyber risks and cyber control metrics to executive and management • Ongoing cyber program in order to maintain security posture within risk appetite over time supported by training and awareness campaigns • Cyber and technology programs continue to be adapted in response to changes to the cyber threat landscape and cyber risk, with adjustments to prioritisation undertaken • Data assurance and privacy programs • Review of vital business critical processes and business continuity activities • Cyber Exercises such as our AI cyber response exercise and scenario analysis is threat scenario analysis e.g. determining what would a particular type of threat do to Transurban and our systems • Transurban’s AI Framework defines guardrails for building safe, responsible AI systems • Updated policies outline responsible AI use, supported by mandatory training to embed safe practices. • • • •
Risk increased to reflect current litigation risk and potential future claims
Increase reflects the impact of the global geopolitical and cyber threat environment, including AI based cyber threats.
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