Transurban : Appendix 4D and 1H22 Interim Report

For personal use only

asx release

17 February 2022

TRANSURBAN APPENDIX 4D AND 1H22 INTERIM REPORT

In accordance with ASX Listing Rules, please see attached Transurban's Appendix 4D and Interim Report for the half year ended 31 December 2021.

The following documents will be provided separately:

• Transurban 1H22 Results Release
• Transurban 1H22 Investor Presentation

Transurban will provide a market briefing at 9:30am (AEDT) today, 17 February 2022. The market briefing will be webcast via the Transurban website at transurban.com.

Investor enquiries	Media enquiries
Hannah Higgins	Josie Brophy
Acting Head of Investor Relations	Manager, Media and Communications
[phone]	[phone]

This announcement is authorised by the Board of Transurban Group.

Classification	Transurban Group
	Transurban International Limited
	ABN 90 121 746 825
	Transurban Holdings Limited
	ABN 86 098 143 429	Level 31
	Transurban Holding Trust	Tower Five, Collins Square
	ABN 30 169 362 255	727 Collins Street
	ARSN 098 807 419	Docklands
	Victoria 3008 Australia
	[e-mail]	Telephone [phone]
	www.transurban.com	Facsimile [phone]

For personal use only

Transurban Group

Appendix 4D

Half-year ended 31 December 2021

(Previous corresponding period being the half-year ended 31 December 2020)

The Transurban Group (the Group) comprises the following entities:

Transurban Holdings Limited (ABN 86 098 143 429)

Transurban Holding Trust (ARSN 098 807 419)

Transurban International Limited (ABN 90 121 746 825)

Results for announcement to the market1, 2

Statutory results from continuing operations		Half-year ended
	31 December 2021
		$M
Revenue from ordinary activities	Decrease of 8.7% to	$1,301
Loss from ordinary activities after tax	Decrease of 66.5% to	($106)
Net loss attributable to security holders of the stapled group	Decrease of 64.0% to	($103)

Statutory results including discontinued operations		Half-year ended
	31 December 2021
		$M
Loss from ordinary activities after tax	Decrease of 76.6% to	($106)
Net loss attributable to security holders of the stapled group	Decrease of 75.6% to	($103)
Proportional results		Half-year ended
	31 December 2021
		$M
Toll revenue	Decrease of 0.2% to	$1,163
Earnings before depreciation, amortisation, net finance costs and income	Decrease of 4.1% to	$805
taxes (EBITDA)
Free Cash	Decrease of 1.6% to	$459

There were no items classified as Significant items for the half-year ended 31 December 2021 or for the prior corresponding period. The accompanying ASX Release and Interim Report for the half-year ended 31 December 2021 that follow provide further commentary on the results and definitions of Proportional results, Significant items and Free Cash.

Distributions and dividends

Half-year ended 31 December 2021	Amount	Franked	Record date	Payment date
	per	amount of
	security	dividend
	(cents)	component (%)
Interim distribution/dividend	15.0	Not applicable	31 December 2021	22 February 2022
Interim distribution/dividend (prior half-year)	15.0	Not applicable	31 December 2020	16 February 2021
Final distribution/dividend (prior year)	21.5	5.724	30 June 2021	23 August 2021

Distribution Reinvestment Plan

Under the Distribution Reinvestment Plan (DRP), security holders may receive additional stapled securities in substitution for some or all cash distributions in respect of their stapled securities. The last date for receipt of an election notice for participation in the DRP was 4 January 2022 and the participation rate was 2.30%. No discount has been applied when determining the price at which stapled securities will be issued under the DRP for the current period distribution.

Net tangible asset backing

	31 December	30 June	31 December
	2021	2021	2020
Net tangible asset backing per stapled security3	$4.79	$3.90	$2.74

1. Unless otherwise stated, statutory financial information has been reclassified to present the results of Transurban Chesapeake (TC) as discontinued operations in the comparative period. TC was a wholly owned subsidiary of TIL and includes the Greater Washington
   Area operating assets, being the 495 Express Lanes and 95 Express Lanes concessions. Refer to Note B13 of the Interim Report for the half-year ended 31 December 2021 for further information. TC has not been reclassified in the proportional results presented. Details of the contribution of TC to the Group's results are disclosed in Note B13.
2. Figures used for calculating percentage movements are based on whole numbers.
3. Net tangible assets used as the basis for this calculation include the concessions relating to the operational assets of the Group, and Right of Use Assets and Lease Liabilities. Concession assets of this type are characterised as intangible assets under Australian Accounting Standards.

Audit review

This Appendix 4D is based on the interim financial statements of the Group which have been reviewed by the Group's auditors, PricewaterhouseCoopers (PwC). A copy of PwC's unqualified review report can be found in the Interim Report for the half-year ended 31 December 2021 that follows.

Other information

For personal use only

Disclosure requirements of ASX Listing Rule 4.2A and 4D.7 not contained in this Appendix 4D are included in the accompanying ASX Release and Interim Report for the half-year ended 31 December 2021.

onlyTransurban

useHoldings Limited and controlled Entities

personalInterim report for the half-yearended 31 December 2021

For

ABN 86 098 143 429

(Including Transurban International Limited and Transurban Holding Trust)

Interim report for the half-year ended 31 December 2021

Contents

only2

17

22

usepersonal40

46

For53

Directors' report

Section A: Group interim financial statements

Consolidated statement of comprehensive income

Consolidated balance sheet

Consolidated statement of changes in equity

Consolidated statement of cash flows

Section B: Notes to the Group interim financial statements

Basis of preparation and significant changes

B1	B2
Summary of significant	Basis of preparation
changes in the current
reporting period
Operating performance
B3	B4	B5	B6
Segment information	Revenue	Significant items	Income tax
Security holder outcomes
B7	B8
Earnings per	Dividends/distributions
stapled security	and free cash
Capital and borrowings
B9	B10	B11
Net finance costs	Borrowings	Derivatives and financial
		risk management
Concession summary
B12
Concession summary
Group structure
B13	B14
Discontinued operations	Equity accounted investments
Items not recognised
B15	B16	B17
Contingencies	Capital commitments	Subsequent events

Section C: Transurban Holding Trust (THT) and Transurban International Limited (TIL) interim financial statements

Consolidated statements of comprehensive income

Consolidated balance sheets

Consolidated statements of changes in equity

Consolidated statements of cash flows

Section D: Notes to the THT and TIL interim financial statements

Section E: Signed reports

Directors' declaration

Independent auditor's review report to the stapled security holders