Transurban Group (TCL) AGM 2026 summary

Opening remarks and agenda

• Hybrid meetings were scheduled for 21 October 2026 at 11:00 am AEDT at the Melbourne Convention and Exhibition Centre and online; three concurrent meetings opened with a quorum, with live voting and questions.

• Four business items covered FY 2026 reports, director elections, advisory adoption of the remuneration report and CEO equity awards.

• The Chair acknowledged Traditional Owners and Elders, First Nations’ connection to the lands and the importance of incorporating First Nations voices in infrastructure; support was offered to Dr Helen Haines, her family and community after an attack in Victoria.

Financial performance review

• FY 2026 proportional revenue was AUD 4.05bn, up 6.5%, and operating EBITDA was AUD 3.06bn, up 7.5%; underlying cost growth was 0.7%, excluding new assets.

• Free cash rose 5.1% to more than AUD 2bn; AUD 7.8bn of debt was issued or refinanced, average debt cost rose 40 bps over six years, and weighted average maturity was 6.6 years.

• FY 2026 traffic grew 2.2% YoY to 2.6m average daily trips; commercial traffic rose 6.6%, while North American traffic rose 3.5% and revenue rose 14%.

• September-quarter average daily traffic rose 3.1% YoY; FY 2026 Scope 1 and 2 emissions fell 14% YoY.

Board and executive committee updates

• Craig Drummond was Chair and non-executive director; Michelle Jablko was CEO. Michael Wright, appointed a non-executive director on 1 November 2025, stood for election; the other directors unanimously recommended his election.

• Mark Birrell, Patricia Cross and Tim Reed stood for re-election; directors other than each nominee unanimously recommended re-election.

• Birrell anticipated 2027 would be his final year, supporting an orderly board transition.

• Cross outlined work to maintain leadership, culture and capability through organizational change, and refine executive rewards to align with performance and security-holder outcomes.