Slide 1: FY22 Results
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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: Contents
Contents 4 16 26 38 41 FY22 Market Financial Outlook Supplementary highlights updates results information
Slide 4: FY22 highlights
FY22 highlights (0.5%) change in average daily traffic across portfolio2 5.7% change in proportional revenue Improvement in traffic particularly in 2H22 Inflation-linked revenues with interest rate protection Maintained a strong balance sheet Distribution growth supported by improvement 19.8% in Fre
Slide 5: Group strategy
Group strategy By understanding what matters to our stakeholders, we create road transport solutions that make us a partner of choice
Slide 6: Transurban investment proposition
Transurban investment proposition Leading global toll 21 assets in five markets Balance sheet strength Inflation benefit with Positioned for long-term road developer with average concession supports growth near-term interest growth and operator life of nearly 30 years opportunities rate protection U
Slide 7: Inflation and interest rates
Inflation and interest rates Well-positioned for an inflationary environment Inflation-linked toll escalations provide inflation protection • Inflation-linked toll escalations and the Group’s hedging profile is expected to 68% provide a net benefit over the near term in an inflationary environment 4
Slide 8: FY22 traffic overview
FY22 traffic overview1 • Group traffic was supported by improvement in airport and CBD activity, Quarterly ADT1 (million trips per day) continued demand for leisure travel, and commissioning of new assets2. This 2.4 contributed to the Group’s 4Q22 performance exceeding 2019 levels despite 2.4 2.2 2.
Slide 9: Traffic insights
Traffic insights Improving urban mobility and travel Workday traffic trends across the Australian markets • Increased use of private transport supported by movement around cities and Melbourne office occupancy as a percentage of pre-COVID-19 increased travel levels compared to CityLink traffic1,2 15
Slide 10: Preference for private transport for commuting
Traffic insights Preference for private transport for commuting1 • Nearly one in four respondents say they changed their mode of transport for commuting to the workplace or place of study since the pandemic • For those that changed, there was a clear shift in all markets towards greater use of priva
Slide 11: Improving freight connections
Improving freight connections1 Transurban’s assets well positioned to provide enhanced connectivity for distribution centres, port and airports 163 tonnes ~80% ~128 million average freight volume of Greater Sydney freight large vehicle trips on carried for every person task is undertaken by Transurb
Slide 12: Customer experience
Customer experience Travel-time savings Investment in reliability of service • Reliability of travel-time is a top factor in choosing a transport option, • 24/7 incident response teams help clear incidents quickly and along with safety and ease of access1 safely to support smooth travel • Transurban
Slide 13: Insights into customer base
Insights into customer base Travel patterns Average toll spend remains a small Focus on additional value • Transurban roads are integral to how people choose to proportion of typical household budget • Broadening the Linkt service offering through move around our cities partnerships, including Linkt
Slide 14: Initiatives towards net zero and sustainable driving
Initiatives towards net zero and sustainable driving Targeting 50% reduction in Scope 1 and 2 emissions by Initiatives towards net zero 2030 and net zero by 20501 • Two-thirds of Transurban’s electricity requirements now being met from renewable energy • Renewable electricity agreements in place for
Slide 15: Opportunity and delivery pipeline
Opportunity and delivery pipeline Transurban's portfolio is expanding in key markets with the opportunity pipeline to support long term growth EXPECTED REGION PROJECTS IN DELIVERY AND POTENTIAL OPPORTUNITIES1 DELIVERY3 NEXT 5 YEARS 5+ YEARS Sydney WestConnex M4-M5 Link 2023 Rozelle Interchange 2024
Slide 16: Market updates
Market updates Transurban
Slide 17: Sydney market update
Sydney market update FY22 performance • Average Daily Traffic decreased by 13.9%, with traffic performance improving throughout the second half following COVID-19 disruptions and heavy rainfall events (1.1%) 48.1% • Car traffic was down by 14.9%, while large vehicle traffic decreased by 3.4% Toll re
Slide 18: Sydney portfolio and pipeline
Sydney portfolio and pipeline Near-term asset enhancement opportunities • The M7-M12 integration and delivery proposal (including widening works in the M7 central median) progressed to the third stage of the NSW Government’s Unsolicited Proposals process in May 2022. Subject to Government approval a
Slide 19: Melbourne market update
Melbourne market update FY22 performance • CityLink traffic increased by 14.6% 17.3% 27.5% • Southern Link traffic increased by 11.5%, and Western Link traffic improved by 18.5% benefitting, in part, from increased airport-related travel Toll revenue Melbourne toll • Car traffic increased by 18.4% a
Slide 20: Melbourne portfolio and pipeline
Melbourne portfolio and pipeline Potential market opportunities • North East Link potential monetisation Other Victorian infrastructure project updates • North East Link project—contract awarded for the tunnelling package in mid 2021. Early works have continued with further construction packages exp
Slide 21: Brisbane market update
Brisbane market update FY22 performance • Average Daily Traffic increased by 2.8%. Growth was broad-based with increases in both car and commercial traffic 6.1% 17.2% – Car traffic increased by 2.0% with growth in both workday and weekend discretionary travel across Toll revenue Brisbane toll revenu
Slide 22: Brisbane portfolio and pipeline
Brisbane portfolio and pipeline Near-term asset enhancement opportunities • Gateway and Logan Motorway widening Potential market opportunities • Broader road enhancements including in relation to Brisbane 2032 1 Other Queensland infrastructure project updates • Bruce Highway upgrade—currently in pla
Slide 23: North America market update
North America market update1 FY22 performance • Traffic on the Express Lanes increased by 31.3% 13.2% 7.2% - 95 Express Lanes benefitted from ongoing discretionary and leisure travel - Traffic on 495 Express Lanes remains below pre-pandemic levels on subdued commuter-related Toll revenue North Ameri
Slide 24: Greater Washington Area projects update
Greater Washington Area projects update 495 Northern Extension Phase 1 Maryland Express Lanes Project • Commercial and financial close reached during FY22 with Lane • Proposal is expected to address some of the region's worst Construction announced as the D&C subcontractor congestion, extending the
Slide 25: Greater Washington Area portfolio and pipeline
Greater Washington Area portfolio and pipeline Potential market opportunities • Asset enhancement opportunities across GWA assets, with additional expansion opportunities and potential for third-party asset divestments across both traditional toll roads and managed lanes • VDOT exploring the souther
Slide 26: Financial results
Financial results Transurban
Slide 27: FY22 financial performance snapshot
FY22 financial performance snapshot1 FY22 FY22 VS. FY21 Gross Distributions $1,259 million 26% Free Cash (incl. Capital Releases) $1,531 million 20% Proportional toll revenue $2,626 million 6% Total proportional costs $862 million 11% Proportional EBITDA $1,900 million 4% Proportional EBITDA margin
Slide 28: Free Cash movement
Free Cash movement Distributions for FY22 122% covered by Free Cash including Capital Releases 1,531 17.6% 1,259 16 1,176 12 103 1,000 94 21 65 (83) (12) (13) (27) Sydney Melbourne Brisbane North America Corporate FY21 Free Cash EBITDA1 Distributions Maintenance and Net finance costs 1 Working capit
Slide 29: Statutory results
Statutory results1 (207) 83 404 31 3,272 58 (99) 33 (3,559) 16 FY21 Profit from Toll revenue Other revenue Operating Depreciation & Net finance costs Loss from equity Income Discontinued FY22 Profit from continuing and expenses amortisation accounted tax benefit operations continuing and discontinue
Slide 30: Proportional results
Proportional results Proportional EBITDA increased 3.5% despite slightly lower traffic performance for the year 3.5% 3.3% (14) 1,896 1,900 103 (85) 4 75 1,836 (19) New assets Divestment FY21 EBITDA Toll revenue Other revenue Direct costs New assets/ FY22 EBITDA FX FY22 EBITDA (excl Sig items) divest
Slide 31: Proportional cost movement
Proportional cost movement Operational cost increase of 6.3% primarily due to normalisation of spend and investing in new capabilities 10.9% 6.3% 859 862 3 13 33 826 20 (36) • Accounting related 52 increase: 777 – Mix of capex and opex3 – Discount rates; New Assets offset by Divestment – Positive fa
Slide 32: Cost considerations
Cost considerations FY23 cost increase Contribution from new assets • Total FY23 cost growth is expected to be greater than FY22, with increases predominantly due • Commissioning of new assets over the near to medium term is expected to: to support growth in traffic volumes and revenues, partly offs
Slide 33: Proportional EBITDA margins
Proportional EBITDA margins1 Group EBITDA margin improved over the second half supported by positive expansion across Transurban’s largest markets FY21 1H22 2H22 FY22 • Traffic recovery in 2H22 Sydney 80.9% 73.5% 79.9% 77.2% • Liquidated damages received for the delayed opening of NorthConnex in FY2
Slide 34: Funding summary
Funding summary SUMMARY OF KEY DEBT METRICS JUN 21 JUN 22 Summary of FY22 funding activities Group debt1,2 $20,763M $23,574M 3.5% $3.4 billion 15.4 years $4.2 billion Corporate liquidity3 $5,974M $3,881M Weighted average cost Gross amount of debt Weighted average maturity New equity raised in FY22 o
Slide 35: Balance sheet considerations
Balance sheet considerations Sources and uses of capital Upcoming refinancing activities4 2,000 LIQUIDITY $B CAPEX $B 1,500 Corporate liquidity as at 30 3.1 Committed projects3 (FY23 ~3.0 $ MILLION June 20221 – FY25) 1,000 Expected Capital Releases 1.9 Liquidity headroom ~2.0 500 (FY23 – FY25)2 - FY
Slide 36: FY23 distribution guidance
FY23 distribution guidance FY23 distribution expected to be 53.0 cps representing approximately 30% growth on FY22 Subject to the following: • Distribution policy as outlined below • Traffic performance and macroeconomic factors • Timing of distributions from subsidiaries1 Distribution policy1 FY23
Slide 37: Capital management approach
Capital management approach Balance sheet provides Resilient cash flows Long-term growth in Funding risk mitigation optionality for investment underpinned by essential Free Cash to fund and diversification in new opportunities infrastructure distribution growth Balancing growth in distributions and
Slide 38: Outlook
Outlook Transurban
Slide 39: Board succession
Board succession Retirement of the Chair Board well-positioned to deliver on Group strategy • After 14 years of service, Transurban Chair Mr Lindsay Maxsted will retire from the • Board has elected Mr Craig Drummond as Chair of the Transurban Board effective Board at the conclusion of this year’s AG
Slide 40: Outlook
Outlook Traffic growth Inflation-linked Robust balance sheet Continuing to enhance Distribution growth expected to be toll escalation to support near-term capabilities across supported by supported by long- with near-term growth opportunities technology, data and expected Free Cash term structural i
Slide 41: Supplementary information
Supplementary information Transurban
Slide 42: WestConnex
WestConnex Increased share to one of the largest road infrastructure projects in the world M4-M5 Link Tunnels (Stage 3A) update • Transurban, through the STP JV, acquired the remaining 49% equity stake in WestConnex • Tunneling excavation is now fully complete with a total of from the NSW Government
Slide 43: West Gate Tunnel Project progress update
West Gate Tunnel Project progress update Melbourne's alternative to the West Gate Bridge taking shape above and below ground • The West Gate Tunnel Project is a critical infrastructure project for Melbourne, providing a vital alternative to the West Gate Bridge, which carries over 200,000 West Gate
Slide 44: Distributions from non-100% entities
Distributions from non-100% entities1 Timing difference on distributions from non-100% entities Distributions from non-100% entities determined by each Board’s discretion CURRENT QUARTER DELAYED ONE QUARTER • Distributions received determined by respective Board discretion following consideration of
Slide 45: Environmental, Social and Governance
Environmental, Social and Governance
Slide 46: ESG investment proposition
ESG investment proposition Transurban is committed to strengthening communities through transport. Providing leadership and taking action on environmental, social and governance factors is fundamental to upholding Transurban’s values and to ensuring the ongoing success and sustainability of the busi
Slide 47: Climate change program
Climate change program Current and future climate-related risk management priorities Scope 1 & 2 science-based emission reduction target: 50% reduction by 2030 Scope 1 & 2 emission targets: Expected Transition to zero-emission Transurban fleet; contractor targets for fuel efficiency and transition t
Slide 48: FY22 ESG progress
FY22 ESG progress Continued progress against key long-term ESG priorities over the period with FY22 initiatives focused on supporting employees, customers and communities, and action on climate change Environmental Social Governance • GHG emissions reduction towards 2050 net zero • Linkt Assist expa
Slide 49: HSE and Road Safety
HSE and Road Safety Transurban has an overarching framework and objectives for Health, Safety, Environment and Road Safety. Our focus is underpinned by continuous training and examining data to identify trends and opportunities for performance improvements Our people’s safety Contractor safety Road
Slide 50: Detailed financials
Detailed financials Transurban
Slide 51: Traffic and revenue performance
Traffic and revenue performance JUN 22 QUARTER1 FY221 PROPORTIONAL ADT ADT LARGE VEHICLE PROPORTIONAL ADT ADT LARGE VEHICLE TOLL REVENUE % CHANGE % CHANGE CAR TRAFFIC TRAFFIC TOLL REVENUE % CHANGE % CHANGE CAR TRAFFIC TRAFFIC % CHANGE vs FY21 vs FY19 % CHANGE % CHANGE % CHANGE vs FY21 vs FY19 % CHAN
Slide 52: Traffic and revenue data
Traffic and revenue data1 % LARGE VEHICLE ASSET JUN 21 QUARTER JUN 22 QUARTER % CHANGE FY21 FY22 % CHANGE TRAFFIC2 SYDNEY M2 Total Toll Revenue (M) $84 $86 2.0% $310 $282 (9.0%) N/A Average Daily Trips (‘000) 135 134 (1.1%) 127 109 (14.3%) 8.0% M5 West Total Toll Revenue (M) $76 $75 (1.5%) $300 $265
Slide 53: Traffic and revenue data
Traffic and revenue data1 % LARGE VEHICLE ASSET JUN 21 QUARTER JUN 22 QUARTER % CHANGE FY21 FY22 % CHANGE TRAFFIC2 MELBOURNE CityLink Total Toll Revenue (M) $181 $214 18.3% $616 $722 17.3% N/A Average Daily Transactions (‘000) 676 778 15.1% 566 648 14.6% 22.2% BRISBANE Gateway Motorway Total Toll Re
Slide 54: Traffic and revenue data
Traffic and revenue data1 % LARGE VEHICLE ASSET JUN 21 QUARTER JUN 22 QUARTER % CHANGE FY21 FY22 % CHANGE TRAFFIC2 NORTH AMERICA 95 Express Lanes Total Toll Revenue (USD M) $26 $38 42.6% $63 $121 90.8% N/A Average Daily Trips (‘000) 50 62 24.4% 39 55 40.0% N/A3 495 Express Lanes Total Toll Revenue (
Slide 55: Traffic data vs FY19
Traffic data vs FY19 ASSET JUN 19 QUARTER JUN 22 QUARTER % CHANGE FY19 FY22 % CHANGE SYDNEY Hills M2 Average Daily Trips (‘000) 133 134 0.2% 135 109 (19.7%) M5 West Average Daily Trips (‘000) 160 166 3.8% 159 140 (11.8%) Lane Cove Tunnel/MRE Average Daily Trips (‘000) 92 85 (7.7%) 93 69 (26.1%) Cros
Slide 56: Proportional toll revenue by asset
Proportional toll revenue by asset JUN 22 QUARTER ($M) FY22 ($M) OWNERSHIP 100% PROPORTIONAL 100% PROPORTIONAL M2 100% $86 $86 $282 $282 M5 West 100% $75 $75 $265 $265 LCT 100% $23 $23 $79 $79 CCT 100% $18 $18 $59 $59 ED 75.1% $39 $29 $126 $95 M7 50% $114 $57 $395 $198 NorthConnex1 50% $37 $18 $122
Slide 57: Statutory results
Statutory results FY21 ($M)1 FY22 ($M) % CHANGE Toll revenue 2,266 2,324 2.5% Construction revenue 480 911 89.8% Other revenue 140 171 22.7% Total revenue 2,886 3,406 18.0% Employee benefit expense (280) (315) 12.3% Road operating costs (328) (343) 4.4% Construction costs (480) (911) 89.8% Transacti
Slide 58: Reconciliation of statutory EBITDA to proportional EBITDA
Reconciliation of statutory EBITDA to proportional EBITDA FY21 ($M) FY22 ($M) % CHANGE Statutory EBITDA 1,691 1,681 (0.5%) Less: EBITDA attributable to non-controlling interest—ED (26) (23) (12.8%) Less: EBITDA attributable to non-controlling interest—TQ (188) (192) 1.9% Less: Intragroup elimination
Slide 59: FY22 proportional result by asset
FY22 proportional result by asset TOLL OTHER EBITDA (excluding NET FINANCE INCOME REVENUE REVENUE significant items) EBITDA D&A COSTS NPBT TAX NPAT OWNERSHIP ASSET $M $M $M $M $M $M $M $M $M 100% M2 282 2 229 229 (77) (28) 124 6 130 100% M5 West 265 3 223 223 (269) (18) (64) (53) (117) 100% LCT 79 -
Slide 60: FY21 proportional result by asset
FY21 proportional result by asset TOLL OTHER EBITDA (excluding NET FINANCE INCOME REVENUE REVENUE significant items) EBITDA D&A COSTS NPBT TAX NPAT OWNERSHIP ASSET $M $M $M $M $M $M $M $M $M 100% M2 310 1 260 260 (78) (42) 140 (4) 136 100% M5 West 300 4 257 252 (269) (23) (40) (64) (104) 100% LCT 92
Slide 61: FY22 net finance costs paid
FY22 net finance costs paid NON-CASH ITEMS STATUTORY DISCOUNT PROPORTIONAL NET UNWINDS & INTEREST INTEREST NET INTEREST NET INTEREST INTEREST DEBT FEES REVALUATIONS1 CAPITALISATION2 OTHER3 ACCRUALS4 PAID PAID CONTROLLED ENTITIES OWNERSHIP $M $M $M $M $M $M $M $M M2 100% (28) 1 (1) - - - (28) (28) M5
Slide 62: FY21 net finance costs paid
FY21 net finance costs paid NON-CASH ITEMS STATUTORY DISCOUNT PROPORTIONAL NET UNWINDS & INTEREST INTEREST NET INTEREST NET INTEREST INTEREST1 DEBT FEES REVALUATIONS2 CAPITALISATION3 OTHER4 ACCRUALS5 PAID PAID CONTROLLED ENTITIES OWNERSHIP $M $M $M $M $M $M $M $M M2 100% (42) - 14 - - - (28) (28) M5
Slide 63: Maintenance provision
Maintenance provision MAINTENANCE EXPENSE RECOGNISED1 MAINTENANCE CASH SPEND CONTROLLED ENTITIES FY21 ($M) FY22 ($M) FY21 ($M) FY22 ($M) M2 (6) (7) (6) (5) M5 West (6) (7) (4) (4) LCT (7) (6) (4) (5) CCT (5) (7) (4) (6) CityLink (25) (27) (20) (26) A25 (5) (3) (1) (6) 95 Express Lanes2 (14) - (2) -
Slide 64: Free Cash calculation
Free Cash calculation FREE CASH CALCULATION SOURCE OF INFORMATION/EXPLANATION Cash flows from operating activities Statutory Transurban Holdings Limited operating cash flow (refer Group Statutory accounts) Add back transaction and integration costs related to acquisitions and Transaction and integra
Slide 65: Free Cash
Free Cash Reconciliation of statutory cash flow from operating activities to Free Cash FY21 ($M) FY22 ($M) FY21 FY22 % CHANGE Cash flows from operating activities 893 982 Free Cash $1,278M $1,531M 19.8% Weighted average securities eligible Add back transaction and integration costs related to acquis
Slide 66: Reconciliation of proportional EBITDA to Free Cash
Reconciliation of proportional EBITDA to Free Cash FY22 ($M) COMMENTS Proportional EBITDA 1,900 Refer to slide 27 for further detail Transaction and integration costs 13 Transaction and integration costs of Project Collins Proportional net finance costs paid (cash) (765) Refer to slide 61 for furthe
Slide 67: Projects under development or delivery
Projects under development or delivery SPEND FY22 FY25 TO-DATE1 SPEND1 FY23 FY24 FY26 COMMITTED PROJECTS / PROJECTS NEW M4 TUNNELS (WCX STAGE 1B)—Sydney—COMPLETE UNDER CONSTRUCTION2 $760M $100M M8 (WCX STAGE 2)—Sydney—COMPLETE $0.9 BILLION4 M4-M5 LINK (WCX STAGE 3A)—Sydney $3,600M $890M WEST GATE TU
Slide 68: Transurban tax groups—estimated timing
Transurban tax groups—estimated timing1 Tax group FY22 EBITDA as proportion FY21 FY22 FY23 FY24 FY25 FY26 FY27 FY28 FY29+ of Transurban Group Timing is indicative only and not shown by month. proportional EBITDA WestConnex 2 8.5% A25 3.8% Currently paying tax: Subject to Federal and provincial tax i
Slide 69: Treasury
Treasury Transurban
Slide 70: Funding structure at 30 June 2022
Funding structure Transurban2 at 30 June 2022 BBB+/Baa1/A- Non-Recourse Corporate Sydney Brisbane North America Working EMTN Capital3 EUR3.3B $2.7B M5 West 495 Express 95 Express M22 LCT CCT ED M72 NCX STP TQ2 A25 Lanes2 Lanes2 Letter of Maple Credit -/A2/- -/A3/A- BBB/-/- -/Baa1/- BBB-/-/BBB CAD0.7
Slide 71: Funding activities
Funding activities Financing activities completed in FY221 Value AUD Category ($M) Comment Transurban Finance Company Corporate 825 Refinance of existing corporate syndicated working capital facility Transurban Queensland Non-recourse 185 Refinance of existing capex and working capital facilities We
Slide 72: Group debt at 30 June 2022
Group debt at 30 June 2022 FACILITY FACILITY FACILITY TOTAL FACILITY TOTAL DRAWN PROPORTIONAL STATUTORY (USD M)1 (CAD M)1 ($M)1 ($M)2 ($M)2 DRAWN ($M)2 DRAWN ($M)3 CORPORATE DEBT Working capital facilities4 - - 2,650 2,650 - - - USPP - - 94 94 94 94 98 EMTN (CAD, NOK and EUR Notes) - 650 5,275 6,007
Slide 73: Proportional drawn debt by effective currency
Proportional drawn debt by effective currency1 30 JUN 21 30 JUN 22 AUD2 ($M) ($M) MOVEMENT ($M) EXPLANATION Corporate 7,411 7,411 - Additional $2,384 million of proportional drawn debt under WCX Group due to increase in ownership, $270 million increase in proportional debt following WCX bank facilit
Slide 74: Key debt metrics
Key debt metrics 30 JUN 21 30 JUN 22 TRANSURBAN GROUP CORPORATE NON-RECOURSE TRANSURBAN GROUP CORPORATE NON-RECOURSE Weighted average maturity (years)1,2 7.7 years 7.1 years 8.2 years3 7.1 years 6.2 years 7.6 years4 Weighted average cost of AUD debt1 4.1% 4.4% 3.9% 3.9% 4.4% 3.7% Weighted average co
Slide 75: Extension of total group debt maturity profile
Extension of total group debt maturity profile June 2021 maturity profile1,2 10,000 Existing debt 8,000 refinanced during FY22 $ MILLION 6,000 4,000 2,000 - FY22 FY23 FY24 FY25 FY26 FY27 FY28 FY29 - 31 FY32 - 36 FY37+ June 2022 maturity profile1,2 10,000 New debt raised during 8,000 FY22 $ MILLION 6
Slide 76: Total corporate debt maturities at 30 June 2022
Total corporate debt maturities at 30 June 20221,2 Working capital facilities USPP EMTN 144A Letters of credit facilities 2,000 1,800 218 1,600 109 1,400 733 833 1,200 $ MILLION 297 796 1,000 94 1,700 800 1,332 600 1,239 1,000 400 825 825 866 706 570 200 215 - FY23 FY24 FY25 FY26 FY27 FY28 FY29 FY30
Slide 77: Total non-recourse debt maturities at 30 June 2022
Total non-recourse debt maturities at 30 June 20221,2 TQ ED M2 M5 M7 LCT CCT WCX Group M8 / M5 East M4-M5 Link 495 95 A25 NCX 6,000 5,500 356 5,000 334 LCT and CCT are 4,500 expected to commence 4,000 amortisation in the next 5 years 3,500 $ MILLION 2,784 3,000 2,500 629 600 2,000 800 1,500 1,540 65
Slide 78: Hedging profile of total debt
Hedging profile of total debt Transurban interest rate hedging profile1,2 36,000 30 JUN 21 30 JUN 22 Interest rate hedged3 99.8% 98.5% 32,000 Currency hedged4 99.1% 99.3% 28,000 24,000 20,000 $ MILLION 16,000 12,000 8,000 4,000 - FY22 FY24 FY26 FY28 FY30 FY32 FY34 FY36 FY38 FY40 FY42 FY44 FY46 FY48
Slide 79: Diversified funding sources
Diversified funding sources Total group debt as at 30 June 20222 BANK DEBT Major funding transactions1 during FY22: AMTN • $825 million Working Capital facility at Corporate AUD PRIVATE PLACEMENT • US$638 million PABS at 95 Express Lanes CAD NOTES • US$560 million PABS, TIFIA & VTIB at 495 Express L
Slide 80: Corporate overview
Corporate overview Transurban
Slide 81: 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: Companies operating Including: Companies operating and maintaining roads
Slide 82: Asset portfolio at 30 June 2022
Asset portfolio at 30 June 2022 SYDNEY OVERVIEW M5 WEST2 M2 M43 M83,4 M5 EAST3,6 LCT CCT Opening date Aug 1992 May 1997 Jul 2019 Jul 2020 Dec 2001 Mar 2007 Aug 2005 Remaining concession period1 4 years2 26 years 39 years 39 years 39 years 26 years 13 years Concession end date Dec 2026 Jun 2048 Dec 2
Slide 83: Asset portfolio at 30 June 2022
Asset portfolio at 30 June 2022 SYDNEY MELBOURNE NORTH AMERICA 495 EXPRESS 95 EXPRESS OVERVIEW ED M7 NORTHCONNEX CITYLINK A25 LANES3,5 LANES4,5 Opening date Dec 1999 Dec 2005 Oct 2020 Dec 2000 Nov 2012 Dec 2014 May 2011 Remaining concession period1 26 years 26 years 26 years 23 years 65 years 65 yea
Slide 84: Asset portfolio at 30 June 2022
Asset portfolio at 30 June 2022 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 Remaining concession period1 30 years 30 years 29 years 41 years 43 years 31 years Concession end dat
Slide 85: Future concession assets
Future concession assets1 SYDNEY MELBOURNE M4-M5 ROZELLE WEST GATE OVERVIEW LINK INTERCHANGE TUNNEL Concession end date Dec 2060 Dec 2060 Jan 2045 PHYSICAL DETAILS Length—total 7.5 km 5 km2 17 km Length—surface - - 10.2 km Length—tunnel 7.5 km 5 km2 6.8 km 2x6 on WGF Lanes 2x4 n/a 2x3 on remaining s
Slide 86: Tolling escalation
Tolling escalation MOTORWAY ESCALATION MOTORWAY ESCALATION M2 Tolls escalate quarterly by the greater of quarterly CPI or 1% Tolls escalate quarterly by an equivalent of 4.25% per annum to 30 West Gate Tunnel1 June 2029 and the greater of quarterly CPI or 0% thereafter to LCT Class A tolls escalate
Slide 87: Glossary
Glossary Transurban
Slide 88: Glossary
Glossary TERM DEFINITION TERM DEFINITION 95 95 Express Lanes FFO/DEBT Based on S&P methodology. FFO is calculated as statutory EBITDA (where EBITDA equals 395 395 Express Lanes revenue minus operating expenses, net of maintenance provision) plus distributions from 495 495 Express Lanes investments;
Slide 89: Glossary
Glossary TERM DEFINITION TERM DEFINITION M4-M5 M4-M5 Link SERVICE AND FEE Service and fee revenue includes customer administration charges and enforcement M5 WEST M5 West motorway REVENUE recoveries M7 Westlink M7 SLN Shareholder Loan Note. An interest bearing shareholder loan M8 M8 (previously the