Independent Limited Assurance Report tothe Directors of Toll Holdings Pty LtdConclusionBased on the evidence we obtained from the procedures performed, weare not aware of any material misstatements in the reported Scope 1, 2 and 3greenhouse gas (GHG) emissions data, which has been prepared by Toll HoldingsPty Ltd in accordance with the Criteria for the year ending 31 March 2024.
Information Subject to AssuranceKPMG performed a limited assurance engagement over the FY24 Scope 1, 2 and 3 GHG Emissions (“GHGEmissions”), which has been prepared by Toll Holdings Pty Limited (Toll). This is set out below:GHG EmissionsYear end 31 March 2024Scope 1 GHG EmissionsScope 2 GHG EmissionsScope 3 GHG Emissions182,216 tCO2-e
50,728 tCO2-e1,843,605 tCO2-eThe GHG Emissions are presented in the FY24 Toll GHG Emissions Data Template, which accompaniesthis assurance report. The reporting covers Toll’s global operations, unless otherwise indicated.

Criteria Used as the Basis of ReportingThe GHG emissions data has been prepared in accordance with Toll management’s basis of preparationwhich is aligned to the GHG Protocol Corporate Accounting and Reporting Standard. A summary is availablein the attached FY24 Toll GHG Emissions Data Template (“Criteria”).

Basis for ConclusionWe conducted our work in accordance with Australian Standard on Assurance Engagements ASAE 3410Assurance on Greenhouse Gas Statements (“Standard”). In accordance with the Standard, we have: used our professional judgement to plan and perform the engagement to obtain limited assurance thatwe are not aware of any material misstatements in the GHG Emissions, whether due to fraud or error; considered relevant internal controls when designing our assurance procedures, however we do notexpress a conclusion on their effectiveness; and ensured that the engagement team possess the appropriate knowledge, skills and professionalcompetencies.

Summary of Procedures PerformedOur limited assurance conclusion is based on the evidence obtained from performing the followingprocedures: enquiries with relevant Toll personnel to understand the internal controls, governance structure andreporting process of the GHG Emissions; assessment of operational control and reporting boundaries, including relevant Scope 3 emissionscategories and the treatment of contractors; detailed analytical procedures and walkthroughs of key data sets; agreeing all significant GHG emissions to relevant underlying sources. This includes testing a sample ofScope 1 transport fuels back to Toll’s Central Fuel Database, Scope 2 electricity transactions back to@2024 KPMG, an Australian partnership and a member firm of the KPMG global organisation of independent member firms affiliatedwith KPMG International Limited, a private English company limited by guarantee. All rights reserved. The KPMG name and logo aretrademarks used under license by the independent member firms of the KPMG global organisation. Liability limited by a schemeapproved under Professional Standards Legislation.supplier invoices and material Scope 3 emissions categories back to underlying sources includingPurchased Goods and Services, Capital Goods, Upstream Transportation and Distribution andDownstream Transportation and Distribution; assessing emission factor sources and re-performing emission factor calculations; and evaluating the appropriateness of the Criteria with respect to the GHG Emissions data.

How the Standard Defines Limited Assurance and Material MisstatementThe procedures performed in a limited assurance engagement vary in nature and timing from, and are lessin extent than for a reasonable assurance engagement. Consequently, the level of assurance obtained in alimited assurance engagement is substantially lower than the assurance that would have been obtained hada reasonable assurance engagement been performed. Accordingly, we do not express a reasonableassurance conclusion.
Misstatements, including omissions, are considered material if, individually or in the aggregate, they couldreasonably be expected to influence relevant decisions of the Directors of Toll.

Inherent LimitationsInherent limitations exist in all assurance engagements due to the selective testing of the information beingexamined. It is therefore possible that fraud, or error may occur and not be detected. Non-financial data maybe subject to more inherent limitations than financial data, given both its nature and the methods used fordetermining, calculating, and estimating such data. The precision of different measurement techniques mayalso vary. The absence of a significant body of established practice on which to draw to evaluate andmeasure non-financial information allows for different, but acceptable, evaluation and measurementtechniques that can affect comparability between entities and over time.

Use of this Assurance ReportThis report has been prepared for the Directors of Toll for the purpose of providing an assurance conclusionon the GHG Emissions and may not be suitable for another purpose. We disclaim any assumption ofresponsibility for any reliance on this report, to any person other than the Directors of Toll, or for any otherpurpose than that for which it was prepared.

Management’s responsibilityOur ResponsibilityManagement are responsible for: determining that the Criteria is appropriate tomeet their needs; preparing and presenting the GHG Emissions inaccordance with the Criteria; and establishing internal controls that enable thepreparation and presentation of the GHGEmissions that is free from materialmisstatement, whether due to fraud or error.

Our responsibility is to perform a limited assuranceengagement in relation to the GHG Emissions forthe year ending 31 March 2024, and to issue anassurance report that includes our conclusion.

Our Independence and Quality ControlWe have complied with our independence andother relevant ethical requirements of the Code ofEthics for Professional Accountants (includingIndependence Standards) issued by the AustralianProfessional and Ethical Standards Board, andcomplied with the applicable requirements ofAustralian Standard on Quality Control 1 tomaintain a comprehensive system of qualitycontrol.

KPMG

Sarah NewmanPartnerMelbourne
8 July 2024@2024 KPMG, an Australian partnership and a member firm of the KPMG global organisation of independent member firms affiliatedwith KPMG International Limited, a private English company limited by guarantee. All rights reserved. The KPMG name and logo aretrademarks used under license by the independent member firms of the KPMG global organisation. Liability limited by a schemeapproved under Professional Standards Legislation.

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