495 and 95 Express LanesRobert Deans – Transurban

November 17, 2016

TransurbanOVERVIEW

• International infrastructure investor

and toll road operator

• Top 20 company on the Australian

Securities Exchange (ASX)

• Assets in United States and

Australia

• Unique long-term operator model

aligns with governments’ needs

• VDOT partner on 495 and 95

Express Lanes in Virginia

$3 billion in transportation

improvements

Choice for faster, more reliable trip

Time savings and faster speeds

for general purpose lanes travelers

New and more efficient systems

for HOV and transit

Customers see value for tolls they

pay 3

Virginia Express LanesOVERVIEW

• 35-40 minutes average time savings per daily

commute

• 2.5 hours maximum time savings for one trip

(Springfield to Stafford)

• 17.5 minutes average time savings per trip on I-95

regular lanes

• 1.5 minutes average time to detect an incident on the

Express Lanes

• 5 minutes average response time for our dedicated

Express Assist

• 15% reduction in accidents on HOV Lanes since

conversion to Express Lanes

ECONOMIC BENEFITS1

4

TIME SAVINGS2

TRANSIT/HOV BENEFITS SAFETY

• $6.3 billion generated in economic activity

• 28,000 jobs supported

• $765 million in DBE/SWaM contracts

• 27,000+ HOV trips per weekday on Express Lanes

• 34% of weekday trips on 95 Express Lanes are

HOV/carpools

• 805 bus trips per weekday on Express Lanes

1 George Mason University, 2008 & 2012. 2Traffic Analysis Sept 2016 Quarter

Express Lanes BenefitsSTRENGTHENING COMMUNITIES THROUGH TRANSPORT

Consumer ResearchSTRONG PUBLIC SUPPORT

Slightly more female

55% - 45%

25-45 years old

Full-time worker 80%

Parents 40%

Customer Profile

6

Travel Times:EXPRESS LANES VS. UNRELIABLE REGULAR LANES

Source: Regional Integrated Transportation Information System (RITIS)

0

50

100

150

200

250

July Aug Sept

GP Travel Time EL Travel Time Worst GP Travel Time

$1.9B

$7.3B

$2.8B

Public Subsidy Construction O&M MajorMaintenance

$0.9B

$6.1B

$2.5B

Public Subsidy Construction O&M MajorMaintenance

STATE

CONTRIBUTION

$82.6 M

Total Project Benefits1

Direct returns >110 times State investment

1. Operations, Maintenance and Major Maintenance values represent sum of budgeted future expenditures (nominal) over the remaining Concession term

2. Dr. Stephen Fuller, George Mason University, “Economic Impact of Construction Outlays for the 95 Express Lanes on the Commonwealth of Virginia, the Washington Metropolitan Area, and the Local Jurisdictions”,

August 2012.

7

P3 Purchasing PowerRETURNS ON STATE INVESTMENT

• No public sector risk of construction cost overruns

• Private partner incurs significant penalties for late completion

• Full apportionment of revenue risk to private partner with revenue sharing opportunities

Risk Transfer

Benefits

STATE

CONTRIBUTION

$409.0 M

Total Project Benefits1

Direct returns >29 times State investment