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

While the push to reduce transport emissions is critical, it also points to the inadequacy of the current system. Transurban has long advocated for a fairer, sustainable funding model that meets future infrastructure needs and prepares for the inevitable transition to ZEVs. Such a model would be based on road usage. Some governments are exploring user-based charging through real-world trials and in Australia, the Victorian Government has introduced a road usage charge for electric vehicles and plug-in hybrids. In July 2021, we commissioned research to gauge the community’s understanding and attitudes towards a road usage charge and found that after comparing both models, 50% of respondents preferred such a charge, compared to 32% who preferred the current funding model. 1 However, we also found that most people had little or no understanding of the funding challenge facing governments with 81% of respondents across Victoria, NSW and Queensland claiming to know a little, or nothing at all about road funding. 1 This points to the need for further education about the issue. Vehicle technology transforming travel The future of transport is expected to involve safer and more sustainable mobility options that provide convenience and personalised transport choices. Most vehicle manufacturers are working on the transition to electric as well as connected and autonomous vehicles (CAVs). These vehicles will, via ever-more- advanced sensors, data management and artificial intelligence, increasingly perform independently of their operators and in tandem with surrounding vehicles. As well as improving efficiency and travel times, and reducing transport emissions, given human error is estimated to contribute to 90% of vehicle crashes, CAVs are expected to make road travel safer. Freight operators are expected to transition their fleets to CAVs faster than other industries. The benefits CAVs deliver are potentially most valuable to freight operators, particularly for point-to-point journeys on tollways and other high- functioning roads.

—Highlight— Urban mobility trends research Since the start of the pandemic, we’ve surveyed thousands of people in cities across Australia and North America to track the impact of COVID-19 on how we live, work and move around cities, through lockdowns, reopening and recovery. Our research found people increasingly prefer private vehicles over public transport, leading us to explore associated topics including: using flexible work to manage peak network demand; and road- funding reform to help prepare the road network for higher future demand. We have now published five Urban Mobility Trends industry reports, including two during FY22 and the latest in August 2022. Urban Mobility Trends: Road Funding Reform (August 2021) This report looked ahead to a post- pandemic future, and a critical issue Australia needs to solve to ensure its road infrastructure keeps pace with future demand: road funding. This research investigated people’s understanding of Australia’s existing road-funding system and attitudes towards road-user charging reform.

Urban Mobility Trends from COVID-19 (February 2022) This report checked back in on mobility trends observed during the first three surveys, to see how attitudes and expectations may have shifted as we emerged from two years of intermittent disruption and began to return to a form of normalcy. It covered transport mode preferences, online shopping habits and flexible work patterns.

R ead report on transurban.com/ mobility-report-1h22

Latest report Our latest Urban Mobility Trends Industry Report, published in August 2022, asks people about their current and future travel behaviours, their working arrangements, what influences their transport choices, the transport challenges in their communities and their views on transport infrastructure.

Read report on transurban.com/ mobility-report-fy21

R ead more on our Insights Hub , insights.transurban.com

We are staying on top of these trends through continual research and development (including running pilot programs) as well as through partnerships with relevant technology providers.

our business into the future. It is also incumbent on us, as an industry leader, to set the highest sustainability standards for our operations. We have set ambitious emission reduction targets and are delivering programs to meet these targets, recognising the risks— threats and opportunities—that climate change presents. We are also preparing our assets to tolerate extreme weather events. Our response aligns with the Task Force on Climate-related Financial Disclosures’ (TFCD) recommendations.

Addressing climate change

The impacts of climate change are already being felt around the world. As a road operator with assets across three countries and both hemispheres, and an average concession of more than 28 years, climate change will affect the way that we operate

 Read more in our FY22 Climate Change Disclosure on transurban.com/ccd22

1 Transurban’s Urban Mobility Trends: Road Funding Reform, August 2021


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