Transurban FY26 Corporate Report Remuneration Report
Fixed remuneration Fixed annual remuneration reviews were conducted during FY26, with adjustments made to the remuneration of three Executive Key Management Personnel (KMP), effective 1 July 2025. This was made in recognition of role scope, accountability, experience and performance of the individuals, and to remain competitive with market. Details can be found in the Executive KMP remuneration table on page 109. Short Term Incentive (STI) Changes were made to the FY26 Group Performance Scorecard to sharpen our focus on objective measures that significantly impact value creation and provide greater alignment of performance and remuneration outcomes. The Group Performance Scorecard, which consists of financial and non-financial measures, is used to assess the overall Group performance for STI purposes. In assessing the Group’s performance, the Board also takes into consideration alignment with security holder outcomes. The overall FY26 STI outcome as assessed by the Board is 96% of target opportunity (64% of maximum).
Non-executive Director remuneration An annual review of Non-executive Director fees (base Director and Committee fees) was undertaken during FY26, which included benchmarking against other publicly listed entities of a similar size and complexity to Transurban. The Remuneration, People and Culture Committee recommended, and the Board approved, an average increase to Non-executive Director fees of approximately 2%, effective 1 January 2026. Details of Non-executive Director remuneration arrangements can be found on page 105. Key Management Personnel STI Following a review of the remuneration arrangements for Executive KMP, the STI opportunity for Executive KMP, excluding the CEO, increased from 75% to 80% of Total Employment Cost (TEC), effective 1 July 2025. This adjustment supports the ongoing market competitiveness of our remuneration framework and assists in attracting and retaining high - calibre executive talent. There was no change to the CEO’s remuneration mix. Details can be found on page 102. Looking ahead CEO fixed remuneration The Board determined that the CEO’s fixed remuneration would increase by 3.5%, effective 1 July 2026. In making this decision, consideration was given to the CEO’s performance, external remuneration benchmarking and the external market demand for global senior talent to ensure CEO remuneration remains competitive. Remuneration framework The Board continues to review the effectiveness of the Group’s Remuneration Framework in supporting the Group’s strategy. This includes alignment between executive remuneration outcomes and the experience of stakeholders. Summary FY26 was a year of strong operational execution and meaningful progress across the business. While there is always more to do, we believe these outcomes provide a solid foundation for continued value creation for our security holders, alongside important deliverables for our community and government stakeholders. On behalf of the Remuneration, People and Culture Committee, I thank Transurban’s leadership team and all of our people for their continued commitment and contribution throughout the year. We also thank our security holders for their ongoing support.
Details are provided on page 98. Executive STI outcomes
In determining the STI outcomes for the CEO and Executive KMP, the Board considered both individual performance, and all factors that contributed to the overall Group result. The Board approved the following STI outcomes: • The CEO received a final STI outcome of 108% of target opportunity (72% of maximum opportunity) • Other Executive KMP received between 75% and 100% of target opportunity (50% to 67% of maximum opportunity) Long Term Incentive (LTI) During FY26, the second tranche of the FY22 LTI plan (performance period 1 July 2021 to 30 June 2025) vested on 29 August 2025 at 57%. The FY22 LTI plan was the first award following the Board approval to extend the performance period from three years to four years. To support the transition to a four year performance period, the FY22 LTI plan consisted of two tranches. Tranche 1 (50% of awards granted) has a three-year performance period (1 July 2021 to 30 June 2024) and Tranche 2 (50% of awards granted) has a four-year performance period (1 July 2021 to 30 June 2025). This plan has a single performance measure of relative Total Shareholder Return (TSR) .1 Testing of the performance hurdles for the FY23 LTI Plan indicates that 50% of awards will vest for eligible participants.
Patricia Cross AM Chair, Remuneration, People and Culture Committee This report has been prepared and audited in accordance with section 300A of the Corporations Act 2001 (Corporations Act)
92 1 Non-IFRS measure
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