hi Project Summary l OTS2 PPP Page 1 Table of Contents PART A: Project overview ..................................................................................................... 7 1. Introduction .................................................................................................................... 8 2. Project history and strategic need .................................................................................. 9 3. Project description ....................................................................................................... 11 3.1 General .................................................................................................................... 11 3.2 Project objectives ..................................................................................................... 13 3.3 Major contracts ......................................................................................................... 15 3.4 Project timetable ....................................................................................................... 22 3.5 Main funding sources ............................................................................................... 23 4. Procurement ................................................................................................................ 24 4.1 Approach overview ................................................................................................... 24 4.2 Public interest evaluation .......................................................................................... 25 4.3 Evaluation/assessment criteria ................................................................................. 25 4.4 Value for money rationale ......................................................................................... 28 4.5 Public Sector Comparator ........................................................................................ 28 PART B: Contractual overview ............................................................................................ 30 5. Participants in the OTS2 PPP ...................................................................................... 31 5.1 Public sector parties to the contracts ........................................................................ 31 5.2 Private sector parties to the contracts ....................................................................... 31 5.3 Foundation Infrastructure Works Contractors ........................................................... 34 5.4 Independent Certifiers .............................................................................................. 35 5.5 Debt financing parties ............................................................................................... 35 6. Contractual structure .................................................................................................... 36 6.1 OTS2 Project Deed .................................................................................................. 36 6.2 Debt and equity documents ...................................................................................... 36 6.3 Core Contracts ......................................................................................................... 37 6.4 Interface documents ................................................................................................. 38 6.5 Significant Contracts................................................................................................. 38 6.6 Guarantees .............................................................................................................. 39 6.7 Side deeds ............................................................................................................... 40 6.8 Project Cooperation and Integration Deeds .............................................................. 41 Project Summary l OTS2 PPP Page 2 6.9 IDAR Panel Agreement ............................................................................................ 41 6.10 Master Interface Protocols Deed Poll ....................................................................... 41 6.11 Third party and stakeholder agreements .................................................................. 41 6.12 Other documents ...................................................................................................... 42 7. Contract term ............................................................................................................... 45 PART C: Key commercial and contractual features ............................................................. 46 8. Overview of OTS2 PPP ................................................................................................ 47 8.11 Incorporation of Sydney Metro Northwest ................................................................. 47 8.12 Phase 1 and Phase 2 ............................................................................................... 47 8.13 Foundation Infrastructure Works............................................................................... 47 9. Risk allocation .............................................................................................................. 49 10. General obligations .................................................................................................. 62 11. Activities of Sydney Metro and OpCo2 during the construction period ...................... 63 11.1 OpCo2 construction works........................................................................................ 63 11.2 Integration ................................................................................................................ 64 11.3 Sydney Metro construction works ............................................................................. 64 11.4 Laws and approvals.................................................................................................. 64 11.5 Sydney Metro City & Southwest site during construction .......................................... 64 11.6 Progressive handover of construction site ................................................................ 65 11.7 Early handover and interim access ........................................................................... 65 11.8 Time ......................................................................................................................... 66 12. Service delivery and quality requirements ................................................................ 67 12.1 Sydney Metro City & Southwest site during operations ............................................. 67 12.2 Operations ................................................................................................................ 67 12.3 Maintenance ............................................................................................................. 68 12.4 Asset management system ...................................................................................... 68 12.5 Asset management plan and asset information system ............................................ 68 12.6 Asset management failure ........................................................................................ 69 12.7 Building management systems ................................................................................. 69 12.8 Reporting .................................................................................................................. 69 12.9 Handback audit final inspection ................................................................................ 69 13. Government contributions/obligations and any Conditional Debt Pay Down (CDPD) obligations ........................................................................................................................... 70 13.11 Government contributions/obligations ................................................................... 70 Project Summary l OTS2 PPP Page 3 13.12 Conditional Debt Pay Down (CDPD) obligations ................................................... 70 14. User fees (if applicable), including escalation ........................................................... 72 15. Payment ................................................................................................................... 73 15.1 Payments ................................................................................................................. 73 15.2 Service payment mechanism .................................................................................... 73 15.3 Service payment calculation ..................................................................................... 74 15.4 Key Performance Indicators ..................................................................................... 74 15.5 Final completion payment ......................................................................................... 75 15.6 Equity escrow account .............................................................................................. 75 16. Foundation Infrastructure Works............................................................................... 76 16.11 Draft contracts ...................................................................................................... 76 16.12 Foundation Infrastructure Works changes ............................................................. 76 16.13 Maintenance of Foundation Infrastructure Works .................................................