Slide 1: 17 December 2020
17 DECEMBER 2020
Slide 2: Disclaimer and Basis of Preparation
DISCLAIMER AND BASIS OF PREPARATION This publication is prepared by the Transurban Group comprising Transurban Holdings Limited (ACN 098 143 429), Transurban Holding Trust (ARSN 098 807 419) and Transurban International Limited (ACN 121 746 825). The responsible entity of Transurban Holding Trust is
Slide 3: Transaction Highlights
TRANSACTION HIGHLIGHTS Recycling capital Enterprise value to accelerate growth Three existing, Transaction aligned of AUD8.3 billion and support credit highly experienced with Transurban for Transurban metrics, expected to infrastructure strategy Chesapeake assets1 facilitate long-term partners dist
Slide 4: Transaction Overview
TRANSACTION OVERVIEW • Transurban Chesapeake comprises Transurban’s Greater Washington Area operational assets and exclusive access to developments – Operational assets—495 Express Lanes, 95 Express Lanes and 395 Express Lanes – Projects in delivery or development—Fredericksburg Extension, 495 Expre
Slide 5: Transaction Rationale
TRANSACTION RATIONALE Value Strategically Capital Delivery and Growth creation aligned partners recycling operations opportunities Transaction realises significant AustralianSuper, Transaction enables accelerated Transurban will Significant asset enhancement value for security holders with CPP Inves
Slide 6: Strong Regional Characteristics
STRONG REGIONAL CHARACTERISTICS • Transurban Chesapeake region encompasses Legend Frederick Commonwealth of Virginia, State of Maryland and Transurban road Transurban project Washington, D.C. Baltimore Maryland Express Lanes Phase 1 • Urbanised markets with large, growing populations and Potential f
Slide 7: Regional Growth Opportunities
REGIONAL GROWTH OPPORTUNITIES • Expansion in North America remains core to Group strategy Phase 1 Maryland Express Lanes Project with Transurban Chesapeake partnership an important step in • Transurban, leading Accelerate Maryland Partners, submitted a response to the RFQ positioning the business fo
Slide 8: Track Record with Partners
TRACK RECORD WITH PARTNERS • Clear alignment between Transurban and partners Track-record of Transurban and partners deploying additional capital into asset enhancements and greenfield projects – AustralianSuper – Co-investors in Transurban Queensland and WestConnex, Transurban Queensland partnershi
Slide 9: Group Impact
GROUP IMPACT • Sale of a 50% interest in Transurban Chesapeake results in: Transurban Group impact2 – Introduction of aligned partners to share risk and reward on current and potential future assets FY20 PRO-FORMA FY20 BASED – Recycling capital to invest in new opportunities REPORTED ON 50% OWNERSHI
Slide 10: Significant Opportunity Pipeline
SIGNIFICANT OPPORTUNITY PIPELINE PRIVATE-SECTOR INVESTMENT AND GOVERNMENT ASSET RECYCLING TO DRIVE GROWTH THROUGH THE COVID-19 RECOVERY Potential market opportunities • Government-owned 49% WestConnex minority interest (Sydney) Brisbane Montreal • Maryland Express Lanes project (Greater Washington A
Slide 11: Summary
SUMMARY Valuation Transurban Introduction of Transurban has reached Recycling North American of aligned partners Chesapeake reflects agreement to sell a capital for growth business positioned bringing experience, quality of assets, 50% equity interest opportunities for next phase relationships, capa
Slide 12: Questions and Answers
QUESTIONS AND ANSWERS
Slide 13: Investor Enquiries
INVESTOR ENQUIRIES Tess Palmer Head of Investor Relations +61 458 231 983 MEDIA ENQUIRIES Sarah Chapman Manager, Media and Communications +61 400 841 898 Transurban
Slide 14: Appendix 1: Transurban Chesapeake
APPENDIX 1: TRANSURBAN CHESAPEAKE
Slide 15: Asset Summary
ASSET SUMMARY • Transurban Chesapeake comprises Transurban’s 495 EXPRESS LANES 95 EXPRESS LANES KEY ASSET FACTS operational assets and exclusive access to CONCESSION CONCESSION1 developments Commencement of operations November 2012 December 2014 – Operational assets—495 Express Lanes, 95 Express Lan
Slide 16: Historical Financial Information
HISTORICAL FINANCIAL INFORMATION Toll Revenue (USD M)1 ADT ('000)1 106 93 49 50 50 84 86 45 46 46 46 46 76 80 71 73 38 40 36 37 56 61 44 26 FY15 FY16 FY17 FY18 FY19 FY20 FY15 FY16 FY17 FY18 FY19 FY20 EBITDA (USD M)1,2 Average Dynamic Toll Price (USD)1 $9.08 $8.63 $8.12 $7.28 68 $6.12 $5.61 55 $5.27
Slide 17: Governance and Operating Model
GOVERNANCE AND OPERATING MODEL • Transurban to continue operating the Transurban Simplified operating structure Chesapeake assets through a Master Services Agreement with Transurban Chesapeake AustralianSuper CPP Investments UniSuper – Arrangement leverages Transurban’s operating 50% owner 25% owner
Slide 18: Customer and Community
CUSTOMER AND COMMUNITY High satisfaction among frequent customers1 Use cases for frequent customers Integrated, transparent approach to community engagement 95 Express Lanes 495 Express Lanes (among frequent drivers) (among frequent drivers) Commuting to work • Community-centric approach to 90% 90%
Slide 19: Appendix 2: Traffic Update
APPENDIX 2: TRAFFIC UPDATE
Slide 20: Traffic Update
TRAFFIC UPDATE1 • Traffic increased through October and Transurban traffic by week November at the Transurban Group level 2.5 despite the ongoing impacts of COVID-192 North America • On CityLink in Melbourne, traffic has shown ADT progressive improvement as government 2.0 restrictions have been grad
Slide 21: Monthly Traffic Performance by Asset
MONTHLY TRAFFIC PERFORMANCE BY ASSET1 Transurban M4 M5 West M7 CCT M2 ED LCT CityLink Logan Gateway Legacy Clem7 GBB AirportlinkM7 A25 95 2 495 Group 3 10% 8% 4% 5% 1% 0% (1%) (6%) (1%) (6%) (7%) (2%) (6%) (2%) (2%) (2%) (2%) (8%) (8%) (8%) (7%) (9%) (9%) (9%) (9%) (9%) (9%) (10%) (4%) (4%) (11%) (1
Slide 22: Glossary
GLOSSARY
Slide 23: Glossary
GLOSSARY TERM DEFINITION TERM DEFINITION 1H/2H First or second half of a year FREE CASH Free Cash is the primary measure used to assess the cash performance of the Group. It 395 395 Express Lanes represents the cash available for distribution to security holders. Free Cash is calculated as cash flow