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 D: Notes to the THT and TIL financial statements for the year ended 30 June 2022

Basis of preparation and significant changes D1 Summary of significant changes in the current reporting period Refer to Note B2 for significant changes in the current reporting period.

D2 Basis of preparation The Transurban Holding Trust Group consists of Transurban Holding Trust and the entities it controls (THT) and the Transurban International Limited Group consists of Transurban International Limited and the entities it controls (TIL). THT and TIL form part of the stapled Transurban Group. THT is registered as a managed investment scheme under Chapter 5C of the Corporations Act 2001 , and as a result requires a responsible entity. The responsible entity of THT is Transurban Infrastructure Management Limited (TIML). TIML is responsible for performing all functions that are required under the Corporations Act 2001 of a responsible entity. The Transurban Holding Trust was established on 15 November 2001 and has no termination date. The Trust was registered as a managed investment scheme by the Australian Securities and Investments Commission on 28 November 2001. THT is a Trust registered and domiciled in Australia. TIL is a public company limited by shares and incorporated in Australia. Going concern The financial statements have been prepared on a going concern basis, which assumes the continuity of normal operations, in particular over the next 12 months from the financial statement release date on 18 August 2022. In determining the appropriateness of the going concern basis of preparation, the Directors have considered the uncertainties related to COVID-19 impacts on traffic, near-term interest rates and inflation on THT and TIL's liquidity and operations. Refer to Note B2 for details of the impact of COVID-19 on the current reporting period. THT and TIL have assessed cash flow forecasts and the ability of THT and TIL to fund their net current liability positions as at 30 June 2022 of $570 million and $308 million, respectively. Excluding related party payables, THT and TIL are in a net current liability position of $255 million and $287 million, respectively. Scenario analysis was undertaken, which includes judgement, of reasonably possible changes in traffic volume, near-term interest rates and inflation. This analysis indicates that THT and TIL are expected to be able to continue to operate within available liquidity levels and the terms of available debt facilities, and to fund their net current liability positions as at 30 June 2022 for the 12 months from the date of this report. THT and TIL have also forecast that they do not expect to breach any financial covenants within the 12 months from the date of this report. Financial covenant forecasts utilised the same underlying cash flow forecasts as those used in the going concern assessment. Non-recourse debt financial covenants are calculated on a trailing 12-month basis. The Directors have also taken the following matters into consideration in forming the view that THT and TIL are a going concern: • THT and TIL have generated positive cash inflows from operating activities of $701 million and $18 million, respectively for the year ended 30 June 2022; • THT and TIL expect to refinance or repay with available cash all borrowing facilities classified as a current liability as at 30 June 2022. Under the stapled arrangement, each entity is able to provide direct and/or indirect support to each other entity and its controlled entities within the Transurban Group; and • Payment of future distributions remains at the discretion of the Board. Refer to Note B2 for further information on the basis of preparation for the Transurban Group.

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