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

FY22 financial performance highlights

Key metrics The below table is a summary of key financial measures which we consider the best representation of underlying business performance

Financial metrics Proportional toll revenue

FY22 2,626

FY22 vs. FY21

$ millions

5.7%

Proportional EBITDA (exc. significant items)

$ millions

1,900

3.5%

Statutory revenue

$ millions

3,406

18.0%

Statutory NPAT

$ millions

16

(99.5%)

Statutory cash flow from operating activities

$ millions

982

9.2%

Free Cash (incl. Capital Releases)

$ millions

1,531

19.8%

Gross distributions

$ millions

1,259

26.0%

Distributions per security

cps

41

12.3%

FY22

FY21

Capital Releases

$ millions

355

278

Proportional drawn debt

$ millions

23,574

20,763

Proportional development capex

$ millions

882

1,157

Ratios and rates Proportional Group EBITDA margin

%

68.8

Corporate debt rating (S&P/Moody’s/Fitch)

rating

BBB+/Baa1/A-

Distribution Free Cash flow coverage

%

122

Corporate SICR

x

3.3

Gearing

%

34.2

Weighted average cost of debt AUD debt

%

3.9

USD debt

%

3.6

CAD debt

%

5.0

Average daily traffic (millions)

Proportional toll revenue ($ millions)

Proportional EBITDA (excl. significant items) ($ millions)

EBITDA MARGIN (%)

74.9% 75.4%

72.3% 70.3%

2.2

2,626

68.8% 1,900

2,581 2,492 2,486

2,016

2.0

2.0

2.0

2.0

2,340

1,888 1,836

1,796

FY18 FY19 FY20

FY21

FY22

FY18 FY19 FY20

FY21

FY22

FY18 FY19 FY20

FY21

FY22

68

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