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Aurizon Debt Investor Roadshow December 2016

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Aurizon Debt Investor Roadshow December 2016 Aurizon Debt Investor Roadshow December 2016 “Aurizon – Australia’s largest rail freight operator” Pam Bains – VP Network Finance (Network CFO) David Collins – VP Finance & Group Treasurer Further information is available online at www.aurizon.com.au Important notice No Reliance on this document This document was prepared by Aurizon Holdings Limited (ACN 146 335 622) (referred to as “Aurizon” which includes its related bodies corporate). Whilst Aurizon has endeavoured to ensure the accuracy of the information contained in this document at the date of publication, it may contain information that has not been independently verified. Aurizon makes no representation or warranty as to the accuracy, completeness or reliability of any of the information contained in this document. Document is a summary only This document contains information in a summary form only and does not purport to be complete and is qualified in its entirety by, and should be read in conjunction with, all of the information which Aurizon files with the Australian Securities Exchange. Any information or opinions expressed in this document are subject to change without notice. Aurizon is not under any obligation to update or keep current the information contained within this document. Information contained in this document may have changed since its date of publication. No investment advice This document is not intended to be, and should not be considered to be, investment advice by Aurizon nor a recommendation to invest in Aurizon. The information provided in this document has been prepared for general informational purposes only without taking into account the recipient’s investment objectives, financial circumstances, taxation position or particular needs. Each recipient to whom this document is made available must make its own independent assessment of Aurizon after making such investigations and taking such advice as it deems necessary. If the recipient is in any doubts about any of the information contained in this document, the recipient should obtain independent professional advice. No offer of securities Nothing in this presentation should be construed as a recommendation of or an offer to sell or a solicitation of an offer to buy or sell securities in Aurizon in any jurisdiction (including in the United States). This document is not a prospectus and it has not been reviewed or authorised by any regulatory authority in any jurisdiction. This document does not constitute an advertisement, invitation or document which contains an invitation to the public in any jurisdiction to enter into or offer to enter into an agreement to acquire, dispose of, subscribe for or underwrite securities in Aurizon. Forward-looking statements This document may include forward-looking statements which are not historical facts. Forward-looking statements are based on the current beliefs, assumptions, expectations, estimates and projections of Aurizon. These statements are not guarantees or predictions of future performance, and involve both known and unknown risks, uncertainties and other factors, many of which are beyond Aurizon’s control. As a result, actual results or developments may differ materially from those expressed in the forward-looking statements contained in this document. Aurizon is not under any obligation to update these forward-looking statements to reflect events or circumstances that arise after publication. Past performance is not an indication of future performance. No liability To the maximum extent permitted by law in each relevant jurisdiction, Aurizon and its directors, officers, employees, agents, contractors, advisers and any other person associated with the preparation of this document, each expressly disclaims any liability, including without limitation any liability arising from fault or negligence, for any errors or misstatements in, or omissions from, this document or any direct, indirect or consequential loss howsoever arising from the use or reliance upon the whole or any part of this document or otherwise arising in connection with it. 2 Agenda › Aurizon Group Overview › Aurizon Group › Aurizon Network (Below Rail) › Aurizon Haulage (Above Rail) › Coal Industry Update 3 Aurizon Group Overview We’re Australia’s largest rail freight operator. Top 50 ASX- Strong Transporting An integrated Employing listed company investment more than 270 above and 6,000 people with a market grade credit million tonnes of below rail at more than capitalisation of ratings, Australian supply chain 200 operational approximately Baa1 (negative) commodities operator and sites across $10bn. / BBB+ (stable). each year. developer. Australia. 5 Aurizon Group Overview Aurizon benefits from long term contracts with high fixed capacity charges and a high quality customer base › Aurizon's credit profile benefits from its strong market share and dominant positions within the Australian commodity supply chain › Its credit rating recognises the stable "through the cycle" revenues and earnings generated from the regulated below rail network ("Aurizon Network") and contracted coal haulage above rail businesses ("Aurizon Haulage") • Top 50 ASX- Top 50 ASX listed company Aurizon Market cap of ~A$10bn(1) Group Baa1 (negative) / BBB+ (stable) Aurizon Haulage Aurizon Network . “Above-rail” freight haulage . “Below-rail” operations . Construction, engineering and . RAB of ~A$5.7bn(2) project management . Baa1 (negative) / BBB+ . Rail services (stable) (1) As at 17 November 2016. (2) FY16 Projection based on QCA’s Final UT4 Decision April 2016 and subject to QCA Approval. Excludes assets operating under an Access Facilitation Deed (AFD) of $0.4bn Issuer under the A$ MTN Debt Issuance Programme dated Oct 2013 and the Euro Bond Issuance Programmes dated Sep 2014 & May 2016 6 Aurizon Group Overview Key FY16 metrics Aurizon Group(1) Aurizon Network Aurizon Haulage(2) Revenue A$3.5bn A$1.2bn A$3.1bn EBITDA A$1.4bn A$0.8bn A$0.9bn Total Assets A$10.9bn A$5.9bn A$6.4bn Debt A$3.5bn A$3.0bn A$0.5bn Gearing(3) 37.4% 62.6% 8.5% Credit Baa1 (negative) / Baa1 (negative) / n/a Ratings BBB+ (stable) BBB+ (stable) FFO / Debt 34% 19% 91% Interest 9x 3x 79x Coverage QCA regulated (1) Aurizon Group financials do not equal the sum of Aurizon Network and Aurizon Haulage due to the elimination of intercompany balances. (2) Aurizon Haulage financials are based on Note 22 to the 2016 Aurizon Group Financial Statements, being the entities covered by the Deed of Cross Guarantee. (3) Net Debt / Net Debt and Total Equity Financials disclosed in Aurizon’s FY16 Annual Report (available at: www.aurizon.com.au) 7 Aurizon Group Overview Key Credit Highlights Aurizon has a strong financial position and stable credit ratings, providing low risk and stable returns to investors Well-established customers and high quality mines predominantly operated by investment grade coal miners Stable and well-established regulatory regime providing revenue protection Long term contracts providing stable haulage revenue No direct exposure to commodity markets and diversification of products hauled provides resilience to changes in commodity prices 8 Aurizon Group Overview Funding Summary Aurizon Haulage A$0.5bn(1) drawn debt maturity profile › Aurizon Network bank debt facilities of $490m repriced in $m December 2015 and maturity extended to FY22 Drawn bank debt 200 › Aurizon Haulage bank debt facilities of $300m repriced in April Undrawn bank debt 2016, maturity extended to FY21 and tranche size increased to $500m 300 300 › Aurizon Network issued second bond in the European capital markets (10 year EUR 500m Medium Term Note) in May 2016. FY20 FY21 FY26 After swapping into A$, proceeds were used to partially repay bank debt Aurizon Network A$2.9bn(1) drawn debt › Debt maturity profile average tenor increased to 5.8 years (FY15 maturity profile – 4.3 years) $m › Interest cost on drawn debt decreased to 4.7% (FY15 – 4.9%), expected to increase to 5.1% in FY17 reflecting transition to Drawn bank debt longer term debt Undrawn bank debt › Approximately 64% of interest rate exposure is fixed to align with A$MTN Euro Bond the Aurizon Network regulatory period 778 711 › Aurizon Group gearing increased to 37.4% (FY15 – 30.2%) 425 525 490 › Investment credit ratings at BBB+ (stable) / Baa1 (negative) › Board committed to maintaining investment grade credit rating 100 FY19 FY21 FY22 FY25 FY26 (1) Excludes working capital facility 9 Aurizon Group Our operations are Australia-wide… Legend Key operational statistics(1) Coal Darwin Iron ore Bulk COMMODITIES Intermodal Wyndham Coal, iron ore, bulk freight CQCN Aurizon and intermodal Cairns City/town Broome Network NORTHERN TERRITORY Townsville PEOPLE Mt Isa Port Headland Bowen More than 6,000 operational Karratha Hughenden Collinsville Dampier Newlands full-time employees QUEENSLAND Mackay Goonyella Winton WESTERN Alice Springs Blackwater Rockhampton AUSTRALIA Gladstone Longreach Emerald Moura ROLLING STOCK Charleville Bundaberg Quilpie Over 570 active locomotives SOUTH Gympie AUSTRALIA Toowoomba Brisbane Leonora Thallon Mullewa Geraldton NEW Kalgoorlie SOUTH WAGONS Gunnedah WALES Over 14,200 active wagons Port Augusta Hunter Valley Perth Avon Newcastle Kwinana Bunbury Sydney Esperance Adelaide Wollongong FUEL AND ENERGY Albany Canberra $245m FY16 energy and fuel spend (2) Key statistics Melbourne 765,222 tonnes hauled daily VICTORIA 165 revenue services per day OPERATIONAL FOOTPRINT Operate across 5 states 200 operations sites TASMANIA Hobart (1) Excluding Footprint. (2) Key statistics as at
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