2025 Corporate Report

Governance | Contents

Transurban Board FY25 areas of focus

During the year, the Board provided strategic guidance and effective oversight of management in its implementation of Transurban’s strategy.

Customer, community and social licence Oversight of the enhancements to customer experience, including Linkt app improvements and expanding the Linkt Rewards partner network. Oversight of customer performance, initiatives and hardship programs providing ongoing support for customers and other members of the community, including through the Linkt Assist (Australia) and First Time Forgiveness (North America) programs, holistic support for vulnerable customers needing additional support beyond assistance with tolling debt (Australia), and participation in a ‘One Stop One Story Hub’ enabling victim-survivors of family violence and customers experiencing complex financial hardship to access hardship support from a range of companies through a single referral (Australia). Oversight of Transurban’s social licence framework, and the focus areas intended to address key social and environmental issues and opportunities relevant to our core business and meet the evolving expectations of our stakeholders. Risk Ongoing enhancements to the Enterprise Risk Management Framework to reflect the continued uplift in risk management practice, including the development of expected risk appetite behaviours which demonstrate what is required from our employees to achieve, operate and innovate within the prescribed risk appetite and the inclusion of additional context and guidance associated with the three lines of accountability for risk management and assurance activities within Transurban. Oversight of Transurban’s AI strategy and adoption, having regard to external perspectives. Capital management Oversight and approval of raising more than $3.8 billion in debt facilities (bank debt inclusive of letters of credit and capital market issuances), comprising refinancing activity across the Transurban Group.

People, culture and remuneration governance Oversight of people, culture and

Key strategic, governance and oversight activities for the year included: Strategy Together with management, evolving the strategic direction of the business and providing guidance and oversight in relation to the strategic objectives; approving the refreshed purpose and values; approving the annual financial budget; and monitoring corporate performance. HSE, sustainability and road safety Oversight of Transurban’s HSE and Road Safety Plan, which is centred on Transurban’s long term vision to achieve a future with zero life changing injuries for employees, contractors and customers, and minimising our impact on the environment. This year has seen Transurban maintain a key focus on delivering effective HSE assurance and mitigating HSE risks, including deployment of our Critical Risk Control Program. Oversight of the continued preparation for mandatory climate reporting, reviewing our approach to climate-related physical risk and transition planning activities, along with monitoring progress against our net zero interim 2030 and 2050 greenhouse gas (GHG) emission reduction targets. 1 NSW Toll Reform Oversight of Transurban’s engagement with the NSW Government in relation to toll reform in NSW, noting at the end of 2024, Transurban and our partners progressed to Stage 2 of the Government’s Direct Dealing process and we continue to work collaboratively with the Government on a range of options which could positively contribute to toll reform outcomes for customers. Delivery of major projects, asset management and performance Ongoing oversight of the performance of Transurban’s infrastructure assets, and delivery of major projects including: the West Gate Tunnel Project in Melbourne; the M7-M12 Integration Project in Sydney; and the 495 Express Lanes Northern Extension and 95 Express Lanes enhancements in North America.

remuneration matters; continued focus on leadership and talent required to support the Group’s strategy and future growth ambition; ongoing review of the effectiveness of the remuneration framework including alignment between executive remuneration outcomes, performance and the experience of stakeholders; and focus on fostering an inclusive, respectful and safe workplace for our diverse talent, including active culture and governance reviews. Emerging and growth opportunities Oversight and review of emerging opportunities including: the progression of the 95 Express Lanes Bi-Directional Project in North America to to early planning; potential asset enhancements in the regions in which Transurban operates; growth opportunities in North America and New Zealand and new adjacent opportunities, including innovation and customer experience. Board succession planning During the year and to the date of this report, the Board has been actively engaged in Board succession planning, culminating in the appointment of a new independent Non-executive Director, Michael Wright, effective from December 2025. Having served over nine years on the Transurban Board, Peter Scott will retire from the Board upon the conclusion of the 2025 AGM in October.

1 For more detail on targets, including methodology, assumptions and dependencies see the FY25 Sustainability Data Pack and FY25 Sustainability Basis of Preparation. Note due to methodology changes comparisons to baseline cannot be made

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