Creating Stakeholder Value

Financial considerations FY22 considerations Anticipate traffic growth to continue over the near-term across all markets as the remainder of COVID-19 related government restrictions are lifted and economic growth normalises Similar cost drivers to 1H22 are expected for the remainder of FY22 Software as a Service (SaaS). Accounting related reclassification of SaaS spend where certain costs will be treated as operating rather than capitalised costs, with growth in SaaS-based projects expected over time Operational cost increase. Continued investment in capabilities to support recent and future business growth, in addition to escalation in insurance premiums and normalisation of COVID-19 cost savings Other accounting related changes. Non-cash impact of changing macroeconomic factors on maintenance models Transurban advises that it expects the total FY22 distribution will be in line with Free Cash, excluding Capital Releases, subject to the following A portion of additional Capital Releases resulting from the increased stake in WestConnex may be used to minimise dilution in Free Cash per security over the next two years • Capital Releases Transurban currently expects to receive more than $2.3 billion of potential Capital Releases between FY22 and FY25 WCX raised $540M in April 2022 with Transurban expecting these funds to be paid to WCX shareholders as a Capital Release Transurban's share of $270M is part of the $2.3 billion expected between FY22-25 Expected Capital Releases, combined with corporate liquidity, will be available to support the following: Committed capex Funding portion of Transurban's committed pipeline Minimising dilution in Free Cash per Security over the next two years (limited to a portion of additional WestConnex Capital Releases) Funding of Transurban's share of the West Gate Tunnel Project financial contribution Timing and amount of Capital Releases remain uncertain and subject to a variety of factors, including the relevant asset's performance, debt capital market and broader macroeconomic conditions Transurban 23

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