4 questions lodged at 2026 Transurban (TCL) hybrid AGM

Q1. There has been a lot of media about bikie gangs infiltrating Victorian Government Big Build projects. Our massively delayed and over budget West Gate tunnel project was partially government funded. How are our systems, processes and policies different from state government Big Build projects in order to minimise corruption and criminal infiltration? Do we have oversight and insight on the terms and condition of any project agreements our contractors make with the CFMEU? Were the chair and CEO surprised by the scale of the revelations by journalist Nick McKenzie about Big Build corruption and did it lead to us making any changes to our approach?

Answer: The chair Craig Drummond said they'd be happy to provide documents to the Royal Commission. Watch video of exchange via Twitter.

Q2. What is our current understanding of the tolling approach that will be used on the State Government's $26 billion North East Link project when it opens in a couple of years? Are they looking to use any of our technology and systems or does it look they are trying to build their own system? Also, with a change of government likely in Victoria, please summarise the known policy positions of the Liberal, National and One Nation parties when it comes to dealing with Transurban and honouring our contracts. Is there any risk of a NSW-style attempt to renegotiate contracts, especially after the recent policy auction on NSW-style toll caps

Answer: The chair said they have no involvement at all in the North East Link, including when it comes to tolling. Watch video of exchange via Twitter.

Q3. At the 2022 AFIC AGM, Craig Drummond, who was then just an AFIC director and not chair, said that being President of Geelong Football Club only took up 1 day a week of his time and AFIC and Transurban were his only other board gigs. Since then, he's become chair of the Sir Ian Potter Foundation, chair of AFIC, joined the Ramsay Healthcare board and taken over as President of the AFL in March this year. How many days a week has the AFL Presidency taken up over the past 6 months and could the directors up for election today please comment on whether the Transurban board has had a specific discussion about these over-boarding concerns? The chair's preferred metric on overboarding - attending all scheduled meetings - doesn't mean he has time to read the papers comprehensively, have informal discussions, tour facilities and the like. Yet he still claims to play golf once a week. How often does the chair engage with our CEO and does he attend all Transurban committee meetings? Is chairing Transurban his biggest and most time consuming gig?

Answer: A longer answer this time but he was emphatic about his ability to juggle everything. None of the other directors responded. Watch video of exchange via Twitter.

Q4. Why didn't we disclose the proxy votes to the ASX along with the formal addresses so that the market could be fully informed when trading commenced at 10am today? At least you disclosed them to the meeting at 11.50am before the debate and well done for achieving strong support on all resolutions. It is disappointing that you are not following the agenda today, instead dealing with all questions in one jumbled job lot, losing focus on important issues like remuneration and director elections. The chair has previously said this is more "efficient". Do you abandon the agenda in board meetings and ask for questions on all items at once in the name of efficiency. Obviously not. Please respect the AGM process and follow the agenda next year. Finally, how many shareholders voted by proxy ahead of today's meeting? Is it correct that a majority of those shareholders who did vote, opposed the remuneration report? Were you happy with the turnout - both in terms of shares and shareholders - and will you disclose the headcount data to the ASX in the poll results as many other companies now do, so we can see how successful you were in getting out the vote of your 110,914 shareholders?

Answer: big omnibus AGM process and transparency question to finish at Transurban. Chair Drummond gives no ground as usual. Even claimed most companies don't follow the AGM agenda. Not true. Watch video of exchange via Twitter.

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