Creating Stakeholder Value

Long-term growth Building a long-term sustainable business model Disciplined investment from 7 to 21 assets over the last decade has resulted in a weighted average concession life of ~30 years Average weighted average concession life of -27 years for the last decade through balancing distributions growth with active management of the portfolio Commissioning of new assets has resulted in the growth of total concession life across the portfolio in seven of the last ten years, with additions far exceeding declines Weighted Average Concession Life¹ (years) Total net concession life contribution from new assets¹ Years Transurban Queensland acquisition 200 495 Express Lanes commissioning Legacy Way AirportLink M7 acquisition M8/M5 East NorthConnex M4 Tunnels commissioning 150 100 50 0 -50 FY12 FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY21 40 40 30 20 10 Free Cash ($M) Balancing near-term returns with long-term investment 2500 2000 1500 1000 500 5 st 0 FY11 FY12 FY13 FY14 FY15 FY16 FY17 Weighted Average Concession Life (years) FY18 FY19 FY20 FY21 Average over last ten years 0 FY12 FY13 FY14 FY15 FY16 Free Cash FY17 FY18 FY19 FY20 FY21 Total Shareholder Return (indexed) 1. Pro-forma remaining concession life as at 30 June 2021 with each concession weighted based on the contribution to Transurban's total proportional revenue for FY21 in each concession's respective region as reported in Transurban's audited financial statements. Ownership proportions of the M4, M8/M5 East and M5 West are adjusted for Transurban's proportional ownership stake of 50.0% in WestConnex, with M5 West concession life post-December 2026. Transurban TSR (indexed from FY11) 31

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