Slide 1: FY24 Results
Transurban Rasiilt’ 8 August 2024
Slide 2: Disclaimer and basis of preparation
Disclaimer and basis of preparation This publication is prepared by Transurban Holdings Limited (ACN 098 143 429), Transurban International Limited (ACN 121 746 825) and Transurban Infrastructure Management Limited (ACN 098 147 678; AFSL 246 585) as the responsible entity of Transurban Holding Trust
Slide 3: Contents
Contents 4 9 17 25 27 FY24 highlights Operational Financial results Wrap-up Supplementary performance information
Slide 4: FY24 highlights
FY24 highlights • Distribution growth of $3,535m 6.7% $967m 3.6% 7% to 62.0 cps - 102% covered by Free Cash • Constructive engagement Proportional toll revenue Total proportional costs on NSW Toll Reform • New development in QLD - Logan West Upgrade project progressed to Binding Upgrade Proposal
Slide 5: Strategic objectives
Strategic objectives Sustainable growth in value and distributions Value for Continued Operating stakeholders growth efficiency Enhancing customer and Existing market growth Optimising the core community value Focus on government partnerships Potential new markets Capital discipline Value for securi
Slide 6: New operating model
New operating model Designed to create value for stakeholders, unlock growth and deliver efficiencies across the business Leadership Team Michelle Jablko Henry Byrne Hugh Wehby Nicole Green Chief Executive Chief Financial Chief Commercial Group Executive, Officer Officer Officer Australian Markets S
Slide 7: Opportunity pipeline across existing and new markets
Opportunity pipeline across existing and new markets1,2 +$12 billion in projects currently under delivery Emerging mobility trends Projects in delivery and potential opportunities1 3 major projects expected to open by 2026 3 2 projects currently under detailed negotiation Smart Customer transport ex
Slide 8: Delivering distribution growth over time
Delivering distribution growth over time1 FY25 distribution expected to be 95-105% covered by Free Cash (excluding Capital Releases)2 • Free Cash coverage is subject to traffic performance and macroeconomic factors 65.0 65.0 62.0 2.5 59.0 - 2.4 60.0 58.0 3.1 2.8 2.3 55.0 1.4 10.9 2.2 50.0 47.0 2.1 4
Slide 9: Operational performance
Operational.performance Transurban
Slide 10: FY24 traffic overview
FY24 traffic overview Positive medium and longer-term trends beyond near-term effects of construction and macroeconomic environment ADT1,2 (million trips per day) 2.5 2.4 2.5 2.1 2.2 2.0 2.0 2.0 2.0 1.5 2.1 2.0 1.8 1.9 1.7 1.7 1.7 1.0 0.5 0.3 0.3 0.3 0.3 0.4 0.4 0.4 0.0 FY18 FY19 FY20 FY21 FY22 FY23
Slide 11: Long-term security holder value
Long-term security holder value Relatively well positioned in the current macroeconomic environment Long-term key fundamentals drive traffic volumes across Disciplined approach to project valuation and capital allocation domestic markets Investment discipline Growth pipeline • population growth of 2
Slide 12: Enhancing customer value
Enhancing customer value Focus on improving the on-road experience and offering additional value for customers Travel time savings Focus on additional value • Expanded the Linkt service offering Average WestConnex travel time savings compared to the free alternative > 1 million 12 cents / litre Trav
Slide 13: Progressing with Government on NSW Toll Reform
Progressing with Government on NSW Toll Reform Opportunity for reform across Sydney’s toll roads to benefit all stakeholders NSW Government – opportunity for • Transurban and other Sydney investors are committed to working with the NSW toll reform Government on developing solutions Interim that impr
Slide 14: Delivering on key projects
Delivering on key projects Melbourne Sydney North America West Gate Tunnel Project M7-M12 Integration Project Fredericksburg Extension • ~80% of the project completed • Safety barriers have been installed along the M7 • Completed in December 2023, extending the • Drivers on the West Gate Freeway hav
Slide 15: Logan West Upgrade project
Logan West Upgrade project Proposed Logan West Upgrade project Macro growth driving the need for infrastructure solutions ~24% ~40% 13m in GDP per capita forecast population truck movements growth from 2022 growth in Brisbane annually to Port of to 20421 from 2022 to 20422 Brisbane expected by 20503
Slide 16: Opportunity pipeline across existing and new markets
Opportunity pipeline across existing and new markets Projects in delivery and potential opportunities1 Expected delivery4 Next 5 years Beyond 5 years Sydney Gateway2 2024 Sydney M7-M12 Integration Project 2026 Potential toll reform opportunities ✓ Potential opportunities around Western Harbour Tunne
Slide 17: Financial results
Financial results Transurban
Slide 18: Statutory results
Statutory results1,2 Increase in statutory profit driven by higher toll revenue and lower net finance costs (22) (29) (41) 376 241 30 (47) 42 110 92 FY23 Profit Toll revenue Other revenue Operating Depreciation & Net finance costs Loss from equity Income tax benefit Discontinued FY24 Profit expenses
Slide 19: FY24 financial summary
FY24 financial summary1 FY24 financial performance Summary of key debt metrics FY24 FY24 vs. FY23 JUN 24 JUN 23 Gross distributions $1,916 million 7.3% Group debt4,5 $25,868 million $24,007 million Free Cash (excl. Capital Releases) $1,954 million 15.0% Corporate liquidity6 $4,196 million $3,952 mil
Slide 20: Free Cash movement
Free Cash movement1,2 New Free Cash definition3 Increase in Free Cash (excluding Capital Releases) by 15% to $1,954 million Old Free Cash definition Proportional EBITDA Proportional net finance costs Cash adjustments Timing differences EBITDA growth delivered Weighted average cost of AUD Other cash
Slide 21: Proportional results
Proportional results1 Proportional EBITDA increased 7.5% with margin expansion Excluding new assets and divestments 2,637 2,631 (9) 1 (7) 2,448 198 FY23 EBITDA Total revenue Total costs FY24 EBITDA (ex. new assets, New assets and Reduced net benefit from FX FY24 EBITDA divestments, PPA & FX) divestm
Slide 22: Proportional cost movement
Proportional cost movement Total cost increase of 3.6% reflects continued focus on managing operational costs FY24 operational cost base % FY24 operational FY23 Total Costs: $934m1 Spend category Continuing cost opportunities cost base • Operating model efficiencies • Supplier relationship managemen
Slide 23: Balance sheet and funding summary
Balance sheet and funding summary Strong liquidity position and well-funded for growth Completed and upcoming refinancing activities7 $0.9bn $1.4bn 3,000 Expected Capital Releases Committed projects3,4,5 (FY25)1 2,500 $0.8bn Upcoming debt maturities2 2,000 $M $1.5bn Cash2,3 Committed 1,500 $1.0bn Gr
Slide 24: Capital allocation framework
Capital allocation framework Balancing capital allocation to support investment in growth and distributions Distributions growth Growing balance sheet supported by capacity to support Core growth from existing portfolio underlying earnings (price and volume growth) opportunity pipeline Traffic and $
Slide 25: Wrap-up
Wrap-up _=Transurban
Slide 26: Wrap-up
Wrap-up Stakeholders – focus on enhancing customer experience and community outcomes, working with governments to support the growing needs of cities Growth – disciplined approach to evaluating growth opportunities Sustainable growth in Operating efficiency – new operating model and cost discipline
Slide 27: Supplementary information
Supplementary information Transurban
Slide 28: Analyst notes
Analyst notes Short to medium-term Free Cash considerations ITEM / SHORT-TERM CONSIDERATIONS ITEM / MEDIUM-TERM CONSIDERATIONS OTHER ASSET ASSET CONSIDERATIONS • Proportional net cost growth WestConnex • Rozelle Interchange and M4-M8 link continue to West Gate • Broadly neutral impact on Free Cash e
Slide 29: Historical Free Cash comparison
Historical Free Cash comparison FY25 distributions aligned with operational free cash (95–105% covered) Transparency and underlying operational performance the basis for Free Cash $m FY20 FY21 FY22 FY23 1H24 2H24 FY24 PROPORTIONAL EBITDA (AS REPORTED) 1,874 1,812 1,900 2,448 1,331 1,300 2,631 Add ba
Slide 30: WestConnex traffic
WestConnex traffic 182k ADT • The map on the right shows ADT involving a trip on each WestConnex asset during FY24, as well as total WestConnex ADT 67k ADT • A single WestConnex trip can include multiple assets, with around 10.3% of WestConnex trips qualifying for the toll 108k ADT cap during FY24 T
Slide 31: Customer and mobility insights
Customer and mobility insights Customers continue to see time savings as key to toll road value, with private transport remaining a strong preference ~60% ~446,000 hours Travel time savings and efficiency • Travel time savings and toll roads being the of Australian respondents identified on average
Slide 32: Market updates
Market updates Transurban
Slide 33: Sydney market update
Sydney market update FY24 performance • Traffic increased by 1.3% Customer and community • Transurban provided free child car seat safety 6.0% 50.0% checks across multiple LGAs in • Car traffic increased by 1.5% and large vehicle Sydney through the Kidsafe NSW partnership Toll revenue Sydney toll r
Slide 34: Sydney portfolio and pipeline
Sydney portfolio and pipeline Near-term asset enhancement opportunities • Construction began in August 2023 for the Elizabeth Drive Connection and M7-M12 Interchange, and late 2023 for the M7 widening • Safety barriers have been installed along the M7 Motorway between the M5 Motorway and Richmond Ro
Slide 35: Melbourne market update
Melbourne market update FY24 performance • Traffic increased by 1.6% • CityLink now 100% powered by renewable energy, saving ~15,000 tonnes of greenhouse gas emissions each year – the equivalent of 6.0% 26.8% • Car traffic increased by 1.6% and large powering +3,500 homes1 vehicle traffic increased
Slide 36: Melbourne portfolio and pipeline
Melbourne portfolio and pipeline Victorian road infrastructure project updates • North East Link project – contract awarded for the tunnelling package in late 2021. Major works now underway with preferred bidders for the Eastern Freeway and the completion of the M80 Ring Road announced in 2022. Two
Slide 37: Brisbane market update
Brisbane market update FY24 performance • Traffic increased by 1.5% Customer and community • Sponsorship of Tour de Brisbane cycling event with more than 6,700 riders pedalling through 9.2% 16.1% • Car traffic increased by 2.1% and large Legacy Way, Inner City Bypass and Go Between vehicle traffic d
Slide 38: Brisbane portfolio and pipeline
Brisbane portfolio and pipeline Near-term asset enhancement opportunities • Logan West Upgrade project • Gateway Motorway widening Potential market opportunities • Broader road enhancements in relation to Brisbane Olympics and Paralympics1 Other Queensland road infrastructure project updates • Gatew
Slide 39: North America market update
North America market update1 8.7% 7.1% FY24 performance • Discussions continue to progress with VDOT to add bi-directional travel on a segment of the • Traffic increased by 5.5% 95 Express Lanes, with design planning • Proportional toll revenue increased by 8.7% currently underway to $252 million To
Slide 40: Greater Washington Area portfolio and pipeline
Greater Washington Area portfolio and pipeline Potential market opportunities • Continuation of the feasibility assessment for bi-directional travel on a segment of the 95 Express Lanes. Currently, on weekdays the lanes run northbound in the morning and southbound in the evening • Ongoing evaluation
Slide 41: Environmental, social and governance
Environmental, social and governance
Slide 42: ESG investment proposition
ESG investment proposition Providing leadership and taking action on environmental, social and governance factors is fundamental to upholding Transurban ’s values and supporting the ongoing success and sustainability of the business Environmental Social Governance • Action against climate change • E
Slide 43: Climate Change Framework priority areas
Climate Change Framework priority areas Scope 1 and 2 science-based emission reduction target: 50% reduction by 2030 Expected initiatives to reach Net Zero 100% renewable electricity use; eliminate Transition to electric vehicle fleet; contractor targets for fuel efficiency and transition to electri
Slide 44: FY24 ESG progress
FY24 ESG progress Environmental Social Governance • Scope 1 and 2 GHG emissions 70% below FY19 • 37 Community grants provided • Submitted eighth annual Tax Transparency levels, well ahead of near-term 2030 SBTi • First identified role filled to implement First Report target and demonstrating progres
Slide 45: HSE and road safety
HSE and road safety Transurban has an overarching framework and objectives for health, safety, environment and road safety. The focus is underpinned by proactive engagement with stakeholders and examining data to identify trends and opportunities for performance improvements Employee safety Contract
Slide 46: Detailed financials
Detailed financials OD Transurban
Slide 47: Traffic and revenue performance
Traffic and revenue performance JUN 24 QUARTER1 FY241 LARGE PROPORTIONAL ADT ADT VEHICLE PROPORTIONAL ADT ADT LARGE VEHICLE TOLL REVENUE % CHANGE % CHANGE CAR TRAFFIC TRAFFIC TOLL REVENUE % CHANGE % CHANGE CAR TRAFFIC TRAFFIC % CHANGE vs JUN 23 vs JUN 19 % CHANGE % CHANGE % CHANGE vs FY23 vs FY19 %
Slide 48: Traffic and revenue data
Traffic and revenue data1 % LARGE JUN 23 JUN 24 VEHICLE ASSET QUARTER QUARTER % CHANGE FY23 FY24 % CHANGE TRAFFIC2 SYDNEY Hills M2 Total Toll Revenue (M) $91 $92 2.0% $367 $371 1.2% N/A Average Daily Trips (‘000) 133 130 (2.2%) 136 132 (2.6%) 8.3% M5 West Total Toll Revenue (M) $82 $87 6.0% $334 $34
Slide 49: Traffic and revenue data
Traffic and revenue data1 % LARGE JUN 23 JUN 24 VEHICLE ASSET QUARTER QUARTER % CHANGE FY23 FY24 % CHANGE TRAFFIC2 MELBOURNE CityLink Total Toll Revenue (M) $228 $238 4.6% $894 $948 6.0% N/A Average Daily Transactions (‘000) 811 813 0.3% 806 819 1.6% 22.3% BRISBANE Gateway Motorway Total Toll Revenu
Slide 50: Traffic and revenue data
Traffic and revenue data1 % LARGE JUN 23 JUN 24 VEHICLE ASSET QUARTER QUARTER % CHANGE FY23 FY24 % CHANGE TRAFFIC2 NORTH AMERICA 95 Express Lanes Total Toll Revenue (USD M) $46 $54 18.2% $158 $181 14.6% N/A Average Daily Trips (‘000) 66 71 7.6% 61 63 3.0% 2.0%3 495 Express Lanes Total Toll Revenue (
Slide 51: Traffic data vs FY19
Traffic data vs FY191 ASSET JUN 19 QUARTER JUN 24 QUARTER % CHANGE FY19 FY24 % CHANGE SYDNEY2 Hills M2 Average Daily Trips (‘000) 133 130 (2.8%) 135 132 (2.2%) M5 West Average Daily Trips (‘000) 160 170 6.4% 159 170 7.1% Lane Cove Tunnel/MRE Average Daily Trips (‘000) 92 76 (17.1%) 93 79 (15.6%) Cro
Slide 52: Proportional toll revenue by asset
Proportional toll revenue by asset JUN 24 QUARTER ($M) FY24 ($M) OWNERSHIP 100% PROPORTIONAL 100% PROPORTIONAL Hills M2 100% $92 $92 $371 $371 M5 West 100% $87 $87 $346 $346 Lane Cove Tunnel/MRE 100% $25 $25 $102 $102 Cross City Tunnel 100% $21 $21 $80 $80 M1 Eastern Distributor 75.1% $41 $31 $168 $
Slide 53: Statutory results
Statutory results FY23 ($M) FY24 ($M) % CHANGE Toll revenue 2,831 2,941 3.9% Construction revenue 1,142 964 (15.7)% Other revenue 184 214 16.8% Total revenue 4,157 4,119 (0.9)% Employee benefits expense (347) (386) 11.3% Road operating costs (392) (421) 7.3% Construction costs (1,142) (964) (15.7)%
Slide 54: Reconciliation of statutory PBT to proportional EBITDA
Reconciliation of statutory PBT to proportional EBITDA FY23 ($M) FY24 ($M) % CHANGE Statutory profit before income tax 66 379 484.6% Add: Statutory depreciation and amortisation 1,111 1,069 (3.7)% Add: Statutory net finance costs 645 404 (37.5)% Add: Share of loss of equity accounted investments, in
Slide 55: Proportional EBITDA margins
Proportional EBITDA margins1,2 FY22 1H23 2H23 FY23 1H24 2H24 FY24 Comments • Sydney margin impacted by the opening Sydney 77.2% 80.7% 78.5% 79.6% 79.0% 76.8% 77.9% of Rozelle Interchange including network diversion Melbourne 82.2% 85.5% 83.5% 84.5% 84.9% 84.1% 84.5% Brisbane 71.0% 72.9% 73.1% 73.0%
Slide 56: FY24 proportional result by asset
FY24 proportional result by asset OTHER EBITDA (excluding transaction NET FINANCE INCOME TOLL REVENUE REVENUE and integration costs) EBITDA D&A COSTS NPBT TAX NPAT OWNERSHIP ASSET $M $M $M $M $M $M $M $M $M 100% M2 371 3 313 313 (78) (23) 212 (21) 191 100% M5 West 346 3 294 294 (268) (5) 21 (79) (58
Slide 57: FY23 proportional result by asset
FY23 proportional result by asset OTHER EBITDA (excluding transaction NET FINANCE INCOME TOLL REVENUE REVENUE1 and integration costs) EBITDA D&A COSTS NPBT TAX NPAT OWNERSHIP ASSET $M $M $M $M $M $M $M $M $M 100% M2 367 3 310 310 (77) (28) 205 (18) 187 100% M5 West 334 2 283 283 (269) (12) 2 (73) (7
Slide 58: FY24 net finance costs paid
FY24 net finance costs paid NON-CASH ITEMS STATUTORY DISCOUNT NET FINANCE UNWINDS & INTEREST INTEREST NET INTEREST PROPORTIONAL NET COST DEBT FEES REVALUATIONS1 CAPITALISATION2 OTHER3 ACCRUALS4 PAID INTEREST PAID CONTROLLED ENTITIES OWNERSHIP $M $M $M $M $M $M $M $M M2 100% (23) 1 1 - - (1) (22) (22
Slide 59: FY23 net finance costs paid
FY23 net finance costs paid NON-CASH ITEMS STATUTORY DISCOUNT NET FINANCE UNWINDS & INTEREST INTEREST NET INTEREST PROPORTIONAL NET COST DEBT FEES REVALUATIONS1 CAPITALISATION2 OTHER3 ACCRUALS4 PAID INTEREST PAID CONTROLLED ENTITIES OWNERSHIP $M $M $M $M $M $M $M $M M2 100% (28) 1 3 - - - (24) (24)
Slide 60: Maintenance provision
Maintenance provision MAINTENANCE EXPENSE RECOGNISED1 MAINTENANCE CASH SPEND CONTROLLED ENTITIES FY23 ($M) FY24 ($M) FY23 ($M) FY24 ($M) M2 (8) (5) (11) (18) M5 West (7) (7) (7) (5) LCT (6) (11) (7) (10) CCT (5) (6) (5) (6) CityLink (27) (28) (34) (46) A252 (2) - - - Total 100% owned controlled enti
Slide 61: Revised Free Cash definition
Revised Free Cash definition FREE CASH CALCULATION SOURCE OF INFORMATION/EXPLANATION Proportional EBITDA Maintenance expense is removed and replaced with maintenance cash expense, and mark-to-market movements in PPAs are excluded Add back transaction and integration costs related to acquisitions and
Slide 62: Previous Free Cash definition
Previous Free Cash definition FREE CASH CALCULATION SOURCE OF INFORMATION/EXPLANATION Cash flows from operating activities (refer Group Statutory accounts) Statutory Transurban Holdings Limited operating cash flow Add back transaction and integration costs related to acquisitions and Transaction and
Slide 63: Free Cash
Free Cash Reconciliation of statutory cash flow from operating activities to Free Cash FY23 ($M) FY24 ($M) FY23 FY24 % CHANGE Cash flows from operating activities 1,459 1,631 Free Cash $1,726M $2,459M 42.5% Add back transaction and integration costs related to acquisitions and divestments 9 - Weight
Slide 64: Reconciliation of proportional EBITDA to Free Cash
Reconciliation of proportional EBITDA to Free Cash FY24 ($M) COMMENTS Proportional EBITDA 2,631 Refer to slide 21 for further detail Transaction and integration costs - Proportional net finance costs paid (cash) (740) Refer to slide 58 for further detail Add back proportional maintenance expense (no
Slide 65: Projects under development or delivery
Projects under development or delivery CAPEX SPEND FY24 CAPEX FY25 FY26 FY27 FY28+ TO DATE1 SPEND1 Committed projects / $5,421M4 $821M WEST GATE TUNNEL PROJECT—Melbourne ($6.1B) projects under construction2 $187M $130M M7 – M12 INTEGRATION PROJECT ($589M) USD$188M USD$81M 495 EXPRESS LANES NORTHERN
Slide 66: Transurban tax groups—estimated timing
Transurban tax groups—estimated timing1 FY24 EBITDA as FY24 Timing is indicative only and not shown by month proportion of tax Transurban Group paid2 Tax group proportional EBITDA ($M) FY25 FY26 FY27 FY28 FY29 FY30 FY31 FY32+ Transurban Cardinal 1% $383 Currently paying tax: Subject to corporate tax
Slide 67: Treasury
Treasury Transurban
Slide 68: Funding structure as at June 2024
Funding structure as at 30 June 2024 Transurban2 BBB+/Baa1/A- Non-recourse Corporate Sydney Brisbane North America EMTN Working EUR5.0B Capital3 495 Express 95 Express $2.7B M22 LCT CCT ED M72 NCX M5 West STP TQ2 A25 Lanes2 Lanes2 Letter of Maple -/A2/- -/A3/A- BBB/-/- -/Baa1/- BBB/-/BBB CAD0.7B Cre
Slide 69: Group debt as at June 2024
Group debt as at 30 June 2024 FACILITY FACILITY FACILITY TOTAL FACILITY TOTAL DRAWN AMORTISATION PROPORTIONAL STATUTORY (USD M)1 (CAD M)1 ($M)1 ($M)2 ($M)2 SCHEDULE DRAWN ($M)2 DRAWN ($M)3 CORPORATE DEBT Working capital facilities4 - - 2,650 2,650 - - - - EMTN (CAD, NOK and EUR Notes) - 650 8,006 8,
Slide 70: Proportional drawn debt by effective currency
Proportional drawn debt by effective currency1 AUD2 30 JUN 23 ($M) 30 JUN 24 ($M) MOVEMENT ($M) EXPLANATION Corporate 8,377 10,048 1,671 AUD1,671 million EMTN issuance Additional: • Net AUD164 million drawn debt at WCX Group • AUD296 million drawn debt at TQ • AUD46 million due to capitalised intere
Slide 71: Key debt metrics
Key debt metrics 30 JUN 23 30 JUN 24 TRANSURBAN GROUP CORPORATE NON-RECOURSE TRANSURBAN GROUP CORPORATE NON-RECOURSE Weighted average maturity (years)1,2 6.9 years 5.7 years 7.7 years3 6.7 years 5.4 years 7.8 years4 Weighted average cost of AUD debt1 4.1% 4.5% 3.8% 4.5% 4.8% 4.3% Weighted average co
Slide 72: Extension of total Group debt maturity profile
Extension of total Group debt maturity profile June 2023 maturity profile1,2 10,000 8,000 Existing debt refinanced during $ MILLION 6,000 FY24 4,000 2,000 - FY24 FY25 FY26 FY27 FY28 FY29 FY30 FY31 - 33 FY34 - 38 FY39+ June 2024 maturity profile1,2 10,000 New debt raised 8,000 during FY24 $ MILLION 6
Slide 73: Total corporate debt maturities as at June 2024
Total corporate debt maturities as at 30 June 20241,2 Working capital facilities EMTN 144A Letters of credit facilities 2,500 2,000 226 269 1,683 1,500 866 $ MILLION 733 824 1,000 74 1,332 1,406 1,239 500 1,000 1,060 833 825 825 836 706 - FY25 FY26 FY27 FY28 FY29 FY30 FY31 FY32 FY33 FY34 FY35-39 FY4
Slide 74: Total non-recourse debt maturities as at June 2024
Total non-recourse debt maturities as at 30 June 20241,2 WCX Group A25 95 495 TQ ED M2 M5 West M7 LCT CCT NCX M8 / M5 East 3,000 M8/M5 East: $2,764 200 Total FY35-39: $5,074 2,500 202 546 40 345 205 550 60 75 2,000 26 255 213 269 57 303 54 $ MILLION 947 752 430 1,500 440 487 29 195 474 300 203 31 38
Slide 75: Hedging profile of total debt
Hedging profile of total debt Transurban interest rate hedging profile1 30 JUN 23 30 JUN 24 40,000 Interest rate hedged2 96.4% 88.2% 36,000 Currency hedged3 100.0% 99.8% 32,000 28,000 24,000 20,000 $ MILLION 16,000 12,000 8,000 4,000 - FY25 FY27 FY29 FY31 FY33 FY35 FY37 FY39 FY41 FY43 FY45 FY47 FY49
Slide 76: Diversified funding sources
Diversified funding sources Major funding transactions1 during FY24: Total Group debt as at 30 June 20242 Corporate GOVERNMENT DEBT, 9% USD NOTES (144A), 11% • €1,000 million EMTN ITL, 7% • A$825 million syndicated facility EMTN AMTN, 6% • US$150 million letter of credit facilities CAD NOTES, 3% USP
Slide 77: Corporate overview
Corporate overview Transurban
Slide 78: Summarised Group structure
Summarised Group structure TRANSURBAN HOLDINGS LIMITED TRANSURBAN HOLDING TRUST TRANSURBAN INTERNATIONAL LIMITED CORPORATE ENTITIES ROAD / OPERATING ENTITIES OTHER ENTITIES ROAD/OPERATING ENTITIES CORPORATE ENTITIES Including: Including: Companies operating and Corporate financing Companies operatin
Slide 79: Asset portfolio as at June 2024
Asset portfolio as at 30 June 2024 SYDNEY OVERVIEW M5 WEST1 M2 M4 M82,3 M4-M8 LINK4 M5 EAST LCT CCT Opening date Aug 1992 May 1997 Jul 2019 Jul 2020 Jan 2023 Dec 2001 Mar 2007 Aug 2005 Concession end date Dec 2026 Jun 2048 Dec 2060 Dec 2060 Dec 2060 Dec 2060 Jun 2048 Dec 2035 PHYSICAL DETAILS Length
Slide 80: Asset portfolio as at June 2024
Asset portfolio as at 30 June 2024 SYDNEY MELBOURNE NORTH AMERICA 495 EXPRESS 95 EXPRESS OVERVIEW ED M7 NORTHCONNEX CITYLINK A25 LANES3 LANES4 Opening date Dec 1999 Dec 2005 Oct 2020 Dec 2000 Nov 2012 Dec 2014 May 2011 Concession end date Jul 2048 Jun 20481 Jun 2048 Jan 2045 Dec 2087 Dec 2087 Sep 20
Slide 81: Asset portfolio as at June 2024
Asset portfolio as at 30 June 2024 BRISBANE GATEWAY LOGAN GO BETWEEN LEGACY OVERVIEW CLEM7 AIRPORTLINK M7 MOTORWAY MOTORWAY BRIDGE WAY Opening date Dec 1986 Dec 1988 Mar 2010 Jul 2010 Jun 2015 Jul 2012 Concession end date Dec 2051 Dec 2051 Aug 2051 Dec 2063 Jun 2065 Jul 2053 PHYSICAL DETAILS Length—
Slide 82: Future concession assets
Future concession assets MELBOURNE WEST GATE OVERVIEW TUNNEL Concession end date Jan 2045 PHYSICAL DETAILS Length—total 17 km Length—surface 10.2 km Length—tunnel 6.8 km 2x6 on WGF Lanes 2x3 on remaining sections OWNERSHIP 100% TOLLING LCV—1.6x Large vehicle multiplier HCV1 HPFV1 1. HCV and HPFV tol
Slide 83: Tolling escalation
Tolling escalation MOTORWAY ESCALATION MOTORWAY ESCALATION M2 Tolls escalate quarterly by the greater of quarterly CPI or 1% West Gate Tunnel Tolls escalate quarterly by an equivalent of 4.25% per annum to 30 June 2029, and the greater of quarterly CPI or 0% thereafter to LCT Class A tolls escalate
Slide 84: Tolling escalation
Tolling escalation Sept Dec Mar June Sept Dec Mar June Sept +90% of FY24 revenue with FY24 FY24 FY24 FY24 FY25 FY25 FY25 FY25 FY26 CPI-linked or fixed escalations (4.25% p.a.5) NSW1 1.4% 0.8% 1.2% 0.6% 1.0% 1.0% Sep CPI Dec CPI Mar CPI 55% of FY24 revenue escalating by at least 4% regardless of infl
Slide 85: Glossary
Glossary Transurban
Slide 86: Glossary
Glossary TERM DEFINITION TERM DEFINITION 95 95 Express Lanes ESG Environmental, Social and Governance 395 395 Express Lanes EUR Euros 495 495 Express Lanes EV Electric Vehicles 1H/2H First or second half of a financial year (unless specified otherwise) FFO Funds From Operations A25 A25 toll road FFO
Slide 87: Glossary
Glossary TERM DEFINITION TERM DEFINITION M4-M8 M4-M8 link RIFR Contractor recordable injury frequency rate measures the number of contractor M5 EAST M5 East motorway recordable injuries (medical treatment, lost time or fatality) per one (1) million hours M5 WEST M5 West motorway worked by Transurban