Transurban announced that plans to widen the M7 Motorway and connect with the new M12 Motorway in Western Sydney (the Project) have received Stage Three approval (which involves acceptance of a binding offer) through the NSW Government's Unsolicited Proposal Process. The Project remains subject to planning approval. The Project was proposed by the Concessionaire of the M7 Motorway, WSO Co Pty Limited (WSO Co).

Transurban owns 50% of WSO Co alongside strategically aligned partners, Canada Pension Plan Investment Board and QIC Private Capital on behalf of its managed funds and clients. The Project includes a widening of the M7 Motorway and the delivery of the M7-M12 interchange, including a connection between Elizabeth Drive and the M12 Motorway. As approved, the Project will provide an additional lane to the M7 Motorway, in both directions, for around 26km between the M5 Motorway interchange at Prestons and Richmond Road at Oakhurst/Glendenning.

Refer to Appendix 1 for additional Project information. The M7 Motorway provides a key link into the broader Sydney arterial network, including for drivers travelling to and from the new Western Sydney (Nancy-Bird Walton) Airport. Work is expected to commence in calendar year 2023, with construction anticipated to take approximately three years.