Transurban Group Strategy Overview

TRANSURBAN OPERATES IN A REGULATED ENVIRONMENT Example industries Pricing freedoms Transurban CONCESSION DEEDS Toll roads Australian tolls fixed from date of concession with defined escalation. Other charges are set out in concession deeds, legislation or agreed with client (cost recovery) INDEPENDENT REGULATION Utilities including electricity, water, gas Prices reset periodically (around every five years) to allow agreed return hurdles to be met based upon a regulated asset base LIGHT-HANDED MONITORING Airports, railway and some ports Price monitoring by the ACCC. Commercial arrangements with users renegotiated periodically Customer choice Volume risk Road users have alternatives including non-tolled roads and other modes of transport Demand risk borne by toll road owner, including shortfalls in revenue or higher than anticipated costs Choice at retailer level but monopolies around distribution infrastructure Prices can be adjusted annually to allow costs to be covered and margin earned even if volumes fall Limited alternatives for consumers and users (airlines, shipping lines) Price reset is a commercial negotiation which covers cost recovery, volumes and returns TRANSURBAN OVERVIEW | AS AT 30 JUNE 2021 10

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