2022 Corporate Report

Corporate Report for the year ended 30 June 2022

Introduction and overview

Business performance

Governance and risk

Directors’ report

Remuneration report

Financial statements

Sustainability supplement

Security holder information

Section B: Notes to the Group financial statements for the year ended 30 June 2022

Section B: Notes to the Group financial statements for the year ended 30 June 2022

Operating performance B4

Segment information In the segment information provided to the Transurban Group Executive Committee (certain members of which act as the chief operating decision maker), segments are defined by the geographical region in which the Group operates being Melbourne, Sydney, Brisbane and North America. The Group's corporate function is not an operating segment under the requirements of AASB 8 Operating Segments as its revenue generating activities are only incidental to the business. The Executive Committee assesses the performance of the region based on a measure of proportional earnings before depreciation, amortisation, net finance costs and income taxes (Proportional EBITDA). This reflects the contribution of each region in the Group in the proportion of Transurban's equity ownership. Significant items are those items where their nature is sufficiently significant to the financial statements and not in the ordinary course of business. Refer to Note B6 for further details. The diagram below shows the assets included in each geographical region, together with the ownership interests held by the Group as at 30 June 2022:

1. Westlink M7 and NorthConnex form the NorthWestern Roads Group (NWRG). 2. The M4, M8/M5 East and M4-M5 Link together form WestConnex. The M8/M5 East includes the M8, the M5 East and will include the M5 West from December 2026. From 29 October 2021, the Group's proportional equity interest in WestConnex increased from 25.5% to 50% through its equity investment in the STP JV. 3. The 95 Express Lanes concession is inclusive of the 395 Express Lanes and the Fredericksburg Extension. 4. The 495 Express Lanes concession is inclusive of the 495 Express Lanes Northern Extension Project and the Capital Beltway Accord Project. 5. 495 Express Lanes and 95 Express Lanes are part of TC. Transurban Group's ownership reduced from 100% to 50% from 1 April 2021. 6. Accelerate Maryland Partners LLC (AM Partners) role is to be the Maryland Department of Transport’s long-term partner to build, finance and operate new Express Lanes in Maryland, USA.

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