Transurban 2010 AGM

October 27, 2010

Another huge protest against the remuneration report with 55% against. We questioned the board on a number of issues and another shareholder questioned the chairman about gender diversity on the board.

Why did the rights issue have to be so rushed?

When did we first retain Lazard? Being an advisor to Lazard, did you not see a conflict?

Why didn't you allow retail investors to take up overs in the recent offer?

Shareholder question about gender diversity on the board and the chairman's statement on that position

Could you provide a brief summary of the relationship with Vic Roads and the RTA?

What are the political risks to shareholders, if there is a change in government in either NSW or Victoria?

Is there an inherent commercial and logistical logic in having all roads under one umbrella?

Can Bob Officer discuss his relationship with Mr Doherty as a board member of both Transurban and CP2?

Speaking against the re-election of remuneration chair Geoff Cosgriff.

It would be good if you could be the first chairman to get Transurban out of Bemuda.

I will be voting against the remuneration report and I recommend a change to the remuneration committee