ATLAS ARTERIA — Earnings Release 2016

Feb 22, 2017

Appendix 4E

APPENDIX 4E

Preliminary Final Report

Year ended 31 December 2016

Name of entity : Macquarie Atlas Roads (“MQA”)

Results for announcement to the market

Results for announcement to the market	Results for announcement to the market
(All comparisons to year ended 31 December 2015)$A'000
Income from continuing operations	Upnm*To70,647
Profit from continuing operations after taxfor the yearProfit after tax for the year	Up(Increase in Profits)Up(Increase in Profits)164.6%164.6%toto225,109225,109
Profit for the year attributable to MQAstapled security holders	Up(Increase in Profits)164.6%to225,109
*nm stands for not “meaningful”

Commentary on results

MQA’s profit after income tax for the year of $225.1 million (December 2015: profit of $85.1 million) includes income from operations of $70.6 million (December 2015: $2.2 million), operating expenses of $167.7 million (December 2015: $30.4 million) and MQA’s share of net profits of investments accounted for using the equity method of $330.0 million (December 2015: profit of $113.3 million).

The profit after tax for the period represents MQA’s statutory result. MQA also separately provides supplementary information including its proportionate EBITDA result from its portfolio of toll road assets. On a like for like basis, proportionate EBITDA increased by 6.3% to 562.4 million. Revenue weighted average traffic for the year ended 31 December 2016 increased 3.7% on the prior corresponding period whilst weighted average revenue increased 5.4%. For a reconciliation of the statutory result to the proportionate EBITDA result, please refer to MQA’s Management Information Report.

Dividends/Distributions	Cents per security	Franked amount per security
2016:
Final distribution*	9.0	N/A
Interim distribution**	9.0	N/A
2015:
Final distribution***	10.0	N/A
Interim dividend****	6.0	N/A
* This distribution comprised two components; a capital return of 8.7 cents per stapled security (“cps”), and an ordinary
dividend of 0.3 cps.
** This distribution comprised two components; a capital return of 8.5 cps, and an ordinary dividend of 0.5 cps.
*** This distribution comprised two components; a	capital return of 9.3 cps, and an ordinary dividend of 0.7 cps.
**** This distribution comprised two components;a capital return of 4.7 cps,and an ordinarydividend of 1.3 cps.

Appendix 4E 1

Appendix 4E

Record date for determining entitlements to the dividend / distribution

Final dividend / distributionInterim dividend / distribution		N/AN/A
Net tangible assets per securityAs at 31 December 2016		As at 31 December 2015
Net tangible asset backing per stapledsecurity	A$2.02	A$1.67

Under the listing rules net tangible asset backing must be determined by deducting from total tangible assets all claims on those assets ranking ahead of the ordinary securities (i.e., all liabilities, preference shares, outside equity interests etc). The net tangible asset backing does not reflect the fair value of MQA’s portfolio of assets.

Financial information

This report is based on the audited Macquarie Atlas Roads Financial Report for the year ended 31 December 2016 which can be found on our website www.macquarieatlasroads.com.au.

Other information required by Listing Rule 4.3A

Other information requiring disclosure to comply with Listing Rule 4.3A is contained in the Macquarie Atlas Roads Financial Report found on our website www.macquarieatlasroads.com.au.

Appendix 4E 2