Creating Stakeholder Value

Asset lifecycle1 Anticipate long-term Free Cash and distribution growth as new assets ramp up and transition into developed assets Pre-development Working together with government and community to refine project scope Maryland Phase 1 M7/M12 Under construction Upfront capital investment through various funding sources WGTP M4-M5 Link NEXT FredEx Average Daily Traffic? Ramp up Occurs at the commissioning of new projects, and are normally characterised by strong growth over the near to medium term M8/M5 East NorthConnex 395 Express Lanes LEP Developed asset Driver familiarity and market fundamentals underpin traffic volumes and free cash for distributions Opportunities to extend growth Broadened scope of both organic and acquisitive opportunities from improvements in technology and changes in regulatory frameworks supporting private investment CityLink M5 West Hills M2 M4 LCT CCT Eastern Distributor M7 Clem7 GBB Legacy Way Airportlink M7i I Growth opportunities I Gateway Logan Long-term Free Cash generation supported by new and developed assets Pipeline of recently commissioned assets and enhancements, including the M8/M5 East, NCX, 395 Express Lanes, and LEP, will ramp-up over the near- term Increasing number of developed assets in the portfolio results in a greater proportion of the asset base that contributes to generating Free Cash and distributions Near-term pipeline balanced across well- progressed greenfield projects and enhancement opportunities 1. The asset lifecycle is influenced by a large range of factors, some of which are outside of the control of Transurban. No assurances can be given that Transurban will be able to complete current and future development projects in the manner or within the time frame and budget expected. Such current and future development projects also may not deliver the return or earnings expected. 2. ADT figures are for illustrative purposes only. Transurban 32

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