Atlas Arteria · ASX:ALX

Atlas Arteria — Macquarie Atlas Roads — Shareholder Meeting (April 2012)

39 slides from Atlas Arteria's shareholder meeting presentation, Apr 12, 2012

  1. Slide 1: Macquarie Atlas Roads Annual General Meeting ASX Release

    Macquarie Atlas Roads Limited Macquarie Atlas Roads International Limited ACN 141 075 201 EC43828 No. 1 Martin Place Telephone 612 8232 3333 Rosebank Centre SYDNEY NSW 2000 Facsimile 612 8232 4713 11 Bermudiana Road GPO Box 4294 Internet: www.macquarie.com/mqa Pembroke HM08 SYDNEY NSW 1164 DX 10287

  2. Slide 2: Annual General Meeting

    MACQUARIE ATLAS ROADS LIMITED MACQUARIE ATLAS ROADS INTERNATIONAL LIMITED ANNUAL GENERAL MEETING 12 APRIL 2012

  3. Slide 3: Disclaimer

    Disclaimer Disclaimer Macquarie Atlas Roads (MQA) comprises Macquarie Atlas Roads Limited (ACN 141 075 201) (MARL) and Macquarie Atlas Roads International Limited (Registration No. 43828) (MARIL). Macquarie Fund Advisers Pty Limited (ACN 127 735 960) (AFSL 318 123) (MFA) is the manager/adviser of MA

  4. Slide 4: Disclaimer

    Disclaimer Hong Kong This document has been prepared and intended to be disposed solely to "professional investors" within the meaning of the Securities and Futures Ordinance (Cap. 571) of Hong Kong for the purpose of providing preliminary information and does not constitute any offer to the public

  5. Slide 5: MQA structure

    MQA structure MARL stapled shares MARIL Manager: MFA Adviser: MFA UK, European and North American North American toll road investments toll road investments „ MARL – Macquarie Atlas Roads Limited (an Australian public company) „ MARIL – Macquarie Atlas Roads International Limited (Bermudan mutual fu

  6. Slide 6: Board of directors

    Board of directors „ Macquarie Atlas Roads International Limited — Jeffrey Conyers (Chairman) Independent Director — Derek Stapley Independent Director — David Walsh Independent Director — Peter Dyer Non-Executive Director 5

  7. Slide 7: Board of directors

    Board of directors „ Macquarie Atlas Roads Limited — David Walsh (Chairman) Independent Director — Marc de Cure Independent Director — Richard England Independent Director — John Roberts Non-Executive Director „ MQA Management — Peter Trent Chief Executive Officer — Mary Nicholson Chief Financial Of

  8. Slide 8: Registry, Registry Scrutineer & Lawyers

    Registry, Registry Scrutineer & Lawyers „ Registry — David Dickson Computershare „ Auditor (and scrutineer for voting) — Wayne Andrews PricewaterhouseCoopers „ Lawyers L — Meredith Paynter Mallesons Stephen Jaques 7

  9. Slide 9: Meeting structure

    Meeting structure 1. Introduction and Address by Chairmen – David Walsh, Jeffrey Conyers 2. Update by CEO – Peter Trent 3 MARL 2012 AGM Resolutions and Polls 3. 4. MARIL 2012 AGM Resolutions and Polls 5. Closure of meeting 6. Refreshments served 7. Voting results announced to ASX 8

  10. Slide 10: Chairmen's Address

    Chairmen’s Chairmen s Address David Walsh MARL Chairman Jeffrey Conyers MARIL Chairman

  11. Slide 11: Chief Executive Officer's Address

    Chief Executive Officer’s Address Mr Peter Trent

  12. Slide 12: MQA overview

    MQA overview Macquarie Atlas Roads (MQA) is a global toll road operator and developer „ Created out of the restructure of Macquarie Infrastructure Group 2 years ago „ Market capitalisation has grown substantially since listing to $780m currently1 — Outperformed the S&P/ASX 300 Industrials Accumulati

  13. Slide 13: MQA portfolio

    MQA portfolio MQA’s toll road investments are located in France, UK, USA and Germany1 1. MQA owns various percentage stakes in these assets. 12

  14. Slide 14: Strategy remains focused on value recovery

    Strategy remains focused on value recovery MQA to commence dividend payments1 Manage debt maturities over time / de de-risk risk assets Explore p and maximise value byy way y of sale or securing dividend Deliver growth in the existing portfolio Holding Structure Individual asset risk quarantined fro

  15. Slide 15: 2011 progressed according to plan

    2011 progressed according to plan 3Achievement of key milestone – APRR/Eiffarie refinancing — Material de-risking off MQA’s Q ’ flagship f investment — Significant step towards enabling MQA to commence dividends to shareholders 3Commitment to disciplined capital management — No capital raising requi

  16. Slide 16: 2011 results

    2011 results Solid portfolio EBITDA performance achieved in difficult economic conditions Statutory results summary 2011 Portfolio results „ 2011 Revenue: A$91.9m (2010: A$103.1m) „ 2011 Loss after income tax : A$289.5m (2010: A$226.9m loss) P tf li hi Portfolio highlights hli ht 4 0% 4.0% „ APRR de

  17. Slide 17: 2011 segmented results

    2011 segmented results „ APRR, MQA’s largest asset, continued to perform robustly both in traffic and EBITDA „ Despite weak traffic, EBITDA increased at all other assets except the M6 Toll — Growth in EBITDA supported pp by y higher g tolls and cost control 2011 Traffic growth 2011 EBITDA growth 13

  18. Slide 18: APRR/Eiffarie refinancing completed

    APRR/Eiffarie refinancing completed Management delivered the refinancing according to plan Jun 11 Dec 11 Jun 12 Dec 12 2010 Status Comments 2011-12 3 Minority acquisition materially reduces refinancing risk Status Comments 3 Financial advisor appointed pp 3 APRR Debt issuance and liquidity q January

  19. Slide 19: Other management initiatives

    Other management initiatives During 2011, management progressed a number of initiatives APRR „ Improving operational efficiency through increasing automation — Automated transactions 84.8% of total transactions at APRR in 2011 vs 77.5% in 2010 — Number of Liber Liber-tt tags increased by 19% at APRR

  20. Slide 20: APRR Europe's fourth largest motorway network

    APRR Europe’s fourth largest motorway network APRR’s network covers major trade and tourism routes through Western Europe and links Paris and Lyon, France’s two largest cities „ MQA ownership: ~19.4%1 „ Network length: 2,264km „ Remaining g concession life of 21 yyears „ Regulated toll increases „ F

  21. Slide 21: APRR Mature and expansive network

    APRR Mature and expansive network 50 years old and close to completion „ Additional 18km to be opened around 2016 2011 Network length: 2,264km 1961 SAPL established to build 1994 and operate p A6 ((Paris-Lyon) y ) Addition of AREA Network length >1,500km 1963 1987 First section opened Network length

  22. Slide 22: APRR Maintaining a high quality asset

    APRR Maintaining a high quality asset Since 2006, €2.4bn has been spent to grow, improve and maintain the network APRR historical capital expenditure (€m) 500 99 92 400 84 88 300 91 303 171 104 104 200 343 215 123 100 188 159 81 54 45 24 - 2006 2007 2008 2009 2010 2011 Construction Additional invest

  23. Slide 23: APRR Resilient financial performance

    APRR Resilient financial performance Robust performance demonstrated through economic downturn and oil spikes APRR EBITDA1 (€m), average French diesel price2 and French GDP3 1.50 1,399 5.0% 1,326 1,244 1,265 1,208 1,068 974 2 5% 2.5% French GD price (€/L) ge French 1.25 0.0% diesel p Averag DP (%) 1

  24. Slide 24: EU leading indicators

    EU leading indicators Sentiment improving, but near term weakness likely to remain French business & consumer confidence1 EC composite PMI output2 120.0 60.0 110.0 55.0 100.0 50.0 90 0 90.0 45 0 45.0 80.0 40.0 70.0 35.0 Business Confidence Consumer Confidence 60.0 30.0 Dec 10 Mar 11 Jun 11 Sep 11 De

  25. Slide 25: 2012 Outlook

    2012 Outlook APRR/Eiffarie „ 1Q traffic expected to be slightly negative but anticipated to gradually improve over 2012 „ Revenue expected to be above pcp, pcp supported by the toll increase in February 2012 Other portfolio assets „ Improving traffic performance for US roads generally „ UK traffic c

  26. Slide 26: Dividend framework

    Dividend framework Based on current outlook, MQA dividends are anticipated to commence in 2013 „ Dividends will be paid out of cash flow derived from APRR/Eiffarie distributions after addressing g corporate p requirements q Investors A$ dividend MQA APRR/Eiffarie distribution less corporate requirem

  27. Slide 27: Questions

    Questions

  28. Slide 28: Formal Business of Meetings

    Formal Business of Meetings Macquarie Atlas Roads Limited 2012 AGM Macquarie Atlas Roads International Limited 2012 AGM

  29. Slide 29: Agenda items

    Agenda items MARL 2012 AGM — Receive Financial Accounts and Reports Ad ti off R — Adoption ti R Remuneration Reportt — Re-appointment of Director – Marc de Cure MARIL 2012 AGM — Receive Audited Financial Statements — Re-appointment Re appointment of PricewaterhouseCoopers as auditors — Re-appointmen

  30. Slide 30: Voting cards

    MACQUARIE Voting cards Macquarie Atlas Roads Masquae tae Reads Lita Rent 076 201 Maquae Ane Read ntarational Lint Fslebatin te 3828 MACQUARIE Macquarie Atlas Roads Limited (MARL) 2012 Annual General Meeting 12 April 2012 SHAREHOLDER/PROXYHOLDER ADMISSION & VOTING CARD THE DIRECTORS OF MACQUARIE ATLA

  31. Slide 31: Notices of Meeting

    g Notices of Meeting MARL 2012 AGM and MARIL 2012 AGM To be taken as read 30

  32. Slide 32: Item 1: MARL 2012 AGM

    Item 1: MARL 2012 AGM Item 1: MARIL 2012 AGM MARL 2012 AGM Financial Accounts and Reports “T receive “To i and d consider id the th Financial Fi i lRReportt off MARL and d th the Di t ’ and Directors’ dA dit ’ Auditor’s Reports, for the period from 1 January to 31 December 2011.” MARIL 2012 AGM Audi

  33. Slide 33: Resolution 1: MARL 2012 AGM

    Resolution 1: MARL 2012 AGM MARL 2012 AGM Resolution 1 – Adoption of Remuneration Report “Th t MARL adopt “That d t th R ti R the Remuneration Reportt iincluded l d d iin th the MQA 2011 A Annuall R Reportt ffor the financial year ended 31 December 2011.” 32

  34. Slide 34: Resolution 1: MARIL 2012 AGM

    Resolution 1: MARIL 2012 AGM MARIL 2012 AGM Resolution 1 – Re-appointment of PricewaterhouseCoopers as Auditors “Th t PricewaterhouseCoopers “That Pi t h C b i t d as auditors be re-appointed dit off MARIL until til th l i the conclusion of the next annual general meeting and that the directors be a

  35. Slide 35: Resolutions 2 and 3: MARIL 2012 AGM

    Resolutions 2: MARL 2012 AGM Resolutions 2 and 3: MARIL 2012 AGM MARL 2012 AGM Resolution 2 – Re-appointment of Director – Marc de Cure “Th t Marc “That M d Cure de C b i t d as a director be re-appointed di t off MARL.” MARL ” MARIL 2012 0 AGM G Resolution 2 – Re-appointment of Director – Derek Sta

  36. Slide 36: Proxy votes

    Proxy votes MARL 2012 AGM FOR OPEN AGAINST ABSTAIN 303 866 348 303,866,348 186 991 186,991 11 984 652 11,984,652 3 536 538 3,536,538 Resolution 1 (96.15%) (0.06%) (3.79%) 317,130,150 1,130,491 1,285,822 60,666 Resolution 2 ((99.24%)) ((0.35%)) ((0.40%)) MARIL 2012 AGM FOR O O OPEN AGAINST G S ABSTAI

  37. Slide 37: Voting cards

    MACQUARIE Voting cards Macquarie Atlas Roads Masquae tae Reads Lita Rent 076 201 Maquae Ane Read ntarational Lint Fslebatin te 3828 MACQUARIE Macquarie Atlas Roads Limited (MARL) 2012 Annual General Meeting 12 April 2012 SHAREHOLDER/PROXYHOLDER ADMISSION & VOTING CARD THE DIRECTORS OF MACQUARIE ATLA

  38. Slide 38: Formal Business of Meetings

    Formal Business of Meetings Macquarie Atlas Roads Limited 2012 AGM Macquarie Atlas Roads International Limited 2012 AGM

  39. Slide 39: Annual General Meeting

    MACQUARIE ATLAS ROADS LIMITED MACQUARIE ATLAS ROADS INTERNATIONAL LIMITED ANNUAL GENERAL MEETING 12 APRIL 2012

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