Overview of Atlas Arteria's recent announcement

Atlas Arteria (ASX:ALX) has taken note of the Commonwealth of Virginia State Corporation Commission's (SCC) Final Order regarding Toll Road Investors Partnership II, L.P's (TRIP II) application for an increase to the maximum toll rates at the Dulles Greenway. TRIP II's application sought toll increases of 39.7% for the maximum peak toll and 21.9% for the maximum off-peak toll. However, the SCC has denied TRIP II's application, and Atlas Arteria is currently reviewing the Final Order and considering all available options.

Executive commentary on the SCC's decision

The SCC's decision to deny TRIP II's toll rate increase application is disappointing. We firmly believe that the proposed toll increases were justified to support the ongoing maintenance and improvement of the Dulles Greenway. We are currently assessing the implications of this decision and exploring alternative strategies to ensure the continued sustainability and development of the Dulles Greenway. Our commitment to providing efficient and beneficial toll road services remains unwavering, and we will continue to prioritize the interests of the communities we serve.

Summary of Atlas Arteria's response and outlook

The recent announcement by Atlas Arteria (ASX:ALX) highlights the denial of TRIP II's application for toll rate increases at the Dulles Greenway by the SCC. As the company reviews the Final Order and evaluates its options, it emphasizes its dedication to delivering value to investors through prudent management. Atlas Arteria's commitment to enhancing travel experiences, reducing fuel consumption, and minimizing carbon emissions underscores its long-term vision. The company's focus on sustainable development and community benefits remains integral to its corporate strategy. Despite the setback, Atlas Arteria will continue to explore avenues to ensure the effective operation and growth of the Dulles Greenway, aligning with its overarching goal of creating enduring value for stakeholders.