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

10-year history Operational metrics Number of operational assets

FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY22

# #

8 3

12

14

15

15

16

17

18

21

21

Number of markets Average daily traffic 1 Group

4

4

4

4

5

5

5

5

5

thousands thousands thousands thousands thousands

1,295 1,382 1,775 1,911 1,946 2,035 2,217 2,026 2,018 2,008

Sydney

477 780

543 793

581 816 303

622 820 383

644 813 394

663 824 403 144

814 851 405 147

761 750 383 132

931 566 407 115

802 648 418 140

Melbourne

Brisbane

North America

38

46

75

85

96

Statutory financials Statutory revenue

$ millions $ millions

1,195 1,150 1,860 2,210 2,732 3,298 4,166 3,169 2

2,886 2 3,272

3,406

Statutory NPAT

175

252 (373)

22

209

468

170 (153)

16

Statutory cash flows from operating activities

$ millions

411

521

304

910

837 1,053 1,197 1,131

893

982

Proportional financials Proportional Toll Revenue 3 Group

$ millions $ millions $ millions $ millions $ millions

991 1,117 1,656 1,946 2,153 2,340 2,581 2,492 2,486 2,626

Sydney

479 496

551 535

701 615 265

799 660 313 174

872 687 385 209

944 1,042 1,072 1,278 1,264

Melbourne

780 393 223

813 402 324

747 394 279

616 425 167

722 451 189

Brisbane

North America

16

31

75

Proportional EBITDA (excl. significant items) Group $ millions

828 392 441

934 1,289 1,480 1,629 1,796 2,016 1,888 1,836 1,900

$ millions $ millions $ millions $ millions $ millions $ millions $ millions $ millions $ millions

Sydney

466 483

558 523 185

637 564 218

702 594 268 116 (51)

763 688 279 130 (64)

856 716 293 210 (59)

879 1,033

976 594 320 120

Melbourne

634 286 154 (65)

502 314

Brisbane

(6)

North America

(3) (2)

4

33

86

72

Corporate and other

(13) 572

(10) 768

(25)

(85)

(110)

Free Cash

443

926 1,220 1,215 1,527 1,476 1,278 1,531

Proportional drawn debt

7,471 8,015 12,236 12,484 13,639 14,971 19,394 22,118 20,763 23,574 1,507 2,122 7,814 4,707 4,518 5,865 15,112 7,968 10,016 6,715

Gross debt raised 4

Equity raised

100 2,742

– 1,025

– 1,900 4,820

812

– 4,220

Ratios and rates Group EBITDA margin 5

% %

75.0

75.8

74.7 73.8

73.9

74.9

75.4

72.3

70.3 9.4 6

68.8

FFO/Debt

6.6 2.9

7.9 3.5

8.0 4.3

8.5 3.9

8.9 4.9

8.7 4.1

7.0 3.8

9.1

x

Corporate SICR

2.5

2.8

3.3

%

Gearing

42.8

36.4

40.2

33.3

35.3

35.2

32.0

35.8

34.3

34.2

Weighted average cost of debt AUD

% % %

6.6 4.6

6.3 4.0

5.3 3.8

5.2 4.3

4.9 4.3

4.9 4.4 5.8 8.6

4.6 4.4 4.9 8.3

4.4 4.4 5.0 8.4

4.1 4.5 5.0 7.7

3.9 3.6 5.0

USD CAD

Weighted average debt maturity 7 Weighted average concession length 8

years

9.7

7.5

7.8

8.7

9.0

7.1

years

24.3

24.3

28.5

29.9

29.7 28.3

30.8

28.8

26.2

29.1

Corporate information Market capitalisation Total Shareholder Return

$ billions

10.02 14.01 17.80 24.41 24.32 26.63 39.43 38.65 38.96 44.16

%

25

17

32

35

4

6

31

(1)

3

4.9

$ millions

Gross distributions

456 31.0

594 35.0

764 40.0

901 1,055 1,174 1,577 1,284

999 1,259

cps

Distributions per security

45.5

51.5

56.0

59.0

47.0

36.5

41.0

millions

Securities on issue

1,482 1,896 1,914 2,036 2,052 2,225 2,675 2,735 2,738 3,071

1 C ityLink traffic reported as average daily transactions (‘000) 2 S tatutory results for FY20 and FY21 have been reclassified to present Transurban Chesapeake as discontinued operations in the current period. Refer to Note B24 Business combinations and changes in ownership interests within the Financial Statements for further information

3 D efinition of Toll Revenue adjusted in FY16 (including restatement of FY15) to include fee revenue. Prior to this was disclosed as toll revenue only, and fee and other revenue 4 C alculated at 100% of the debt facility size. Non-AUD denominated debt converted at the hedged rate where cross currency swaps are in place 5 F Y14 and FY15 EBITDA margins were restated in FY16. Not previously disclosed for FY12 to FY13

6 F Y21 FFO/Debt previously reported as 8.9% has been restated due to an amendment S&P have made in their calculation methodology 7 F Y18 to FY21 has been calculated using proportional drawn debt. FY12 to FY17 was calculated on the full value of available debt facilities. Prior to FY19, the previously reported tenor did not reflect the amortisation profile that occurs in the latter years of the USA asset debt facilities 8 Weighted using proportional Toll Revenue by asset

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