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asx release 11 February 2021 TRANSURBAN 1H21 RESULTS Transurban 1H21 summary¹ • • • • • Traffic impacts as a result of COVID - 19 across all markets , with average daily traffic ( ADT ) decreasing by 17.8 % ² . Traffic volumes improved at the Group level throughout the period , with ADT of 2.1 million in December vs. 1.8 million in July³ Evolving stakeholder response to COVID - 19 included actions to support our customers , communities and our people Proportional toll revenue decreased by 16.6 % to $ 1,165 million4 Proportional earnings before interest , tax , depreciation and amortisation ( EBITDA ) and before significant items decreased by 23.2 % to $ 840 million 5 Statutory loss of $ 448 million ( including discontinued operations ) 6 Resolution of spoil disposal issues on the West Gate Tunnel Project is ongoing , with project schedule review confirming 2023 project completion no longer considered achievable M8 and NorthConnex both completed during period , and tolling commenced on the M5 East North America partnership announced in December , introducing three strategically aligned partners into Transurban's Greater Washington Area assets for gross sale proceeds of USD2.1 billion 7 361,000 hours average workday travel - time savings³ 1H21 interim distribution of 15.0 cents per stapled security ( cps ) , 114 % covered by 1H21 Free Cash Chief Executive Officer Scott Charlton highlighted the positive traffic trend during the first half of FY21 and the progress that the business had made on several key projects during the period . He noted that despite ongoing challenges in the global operating environment , the business was well positioned to pursue the pipeline of projects materialising in its core markets . 1 All growth rates used throughout are with reference to the prior comparative period . 2 Excluding M8 / M5 East and NorthConnex , ADT decreased by 23.6 % . 3 Excluding M8 / M5 East and NorthConnex , July 2020 ADT was 1.7 million and December 2020 ADT was 2.0 million . The February 2020 ADT was 2.3 million , prior to COVID - 19 impacts on traffic . Performance will remain sensitive to future government responses and overall economic conditions . Excluding contributions associated with additional ownership of M5 West ( on a like - for - like basis ) , annualised contributions from 395 Express Lanes , contributions from M8 / M5 East ( since road opening / commencement of tolling on 5 July 2020 ) and NorthConnex ( since road opening on 31 October 2020 ) , toll revenue decreased by 21.3 % . Excluding contributions associated with additional ownership of M5 West ( on a like - for - like basis ) , annualised contributions from 395 Express Lanes , contributions from M8 / M5 East ( since road opening / commencement of tolling on 5 July 2020 ) and NorthConnex ( since road opening on 31 October 2020 ) , underlying EBITDA decreased by 27.4 % . 6 See Appendix 1 for further detail on major drivers behind statutory loss including net finance costs . Statutory results have been reclassified to present Transurban Chesapeake as discontinued operations in the current and prior comparative period . Refer to note ' B13 Discontinued operations and assets and liabilities held for sale ' within the financial statements for further information . 7 Excludes Transurban's estimated transaction costs and any tax implications as a result of the sale which will be finalised closer to financial close . See Transurban Chesapeake Partnership Announcement on 17 December 2020 for further details . 8 Source : TomTom data ( Australia and Montreal ) and Regional Integrated Transportation Information System data ( Greater Washington Area ) . Classification Public Transurban Group Transurban International Limited ABN 90 121 746 825 Transurban Holdings Limited ABN 86 098 143 429 Transurban Holding Trust ABN 30 169 362 255 ARSN 098 807 419 corporate@transurban.com www.transurban.com Level 31 Tower Five , Collins Square 727 Collins Street Docklands Victoria 3008 Australia Telephone +613 8656 8900 Facsimile +613 8656 8585