1. Ashley Yelds
August 2015 Page 1 of 6
75 Warrimoo Ave,
St Ives, NSW 2075
Australia
+61 410 658 967
+61 2 8009 6967
Ashley.Yelds@yahoo.com
Infrastructure Advisor
Overview
• Extensive portfolio of infrastructure project assessments including cost-benefit
analyses, feasibility studies and business case reviews
• Experienced in producing robust, verifiable critical path analysis and assessments
in a timely manner
• Practised at developing, managing and cultivating high-functioning results-focused
teams, facilitating and driving them to deliver to budgets and time constraints
• Highly competent in communicating across a wide range of technical competency
and interest levels, and diverse multi-disciplinary project teams of professional and
technical staff
• Adept at multiple stakeholder management and engagement, both within an
organisation and with external parties, and in securing cross-business support and
buy-in
• Effective in “telling the story” on complex infrastructure projects and programs
• Refined ability to think strategically, navigate complex technical, social, political and
economic issues and negotiate sustainable outcomes
• Extensive first hand knowledge of different PPP models, with experience on both
private and government sides of PPP transactions.
Career Profile
Ashley has wide ranging experience in Australia-Asia, Europe and the Americas with a
concentration in transaction phase technical due diligence for large-scale infrastructure
projects and investments. From early 2003 he worked for AECOM, a global provider of
professional technical and management support services to a broad range of markets,
including transportation, facilities, environmental, energy, water and government.
As Managing Director of AECOM PPP Advisory, Ashley led a specialist global team
focused primarily on ‘buy side’ advisory and technical Due Diligence services for PPP
transactions, providing Concession Agreement and performance specification reviews,
Capital and Operating cost forecasts, LifeCycle Analysis, patronage and revenue
forecasts, and risk assessments to bidding consortia. Assignments involved extensive
and intense stakeholder engagement and management, often across conflicting
perspectives and interests. Additionally, Ashley has served on a range of government
transportation policy and advisory roles in Australia, the Americas, Europe and the Middle
East. Clients included developers, concessionaires, financiers, owners, and other key
players in the infrastructure finance market. In line with this market’s dynamics and client
expectations, Ashley’s responsibilities encompassed business and strategic development,
opportunity identification, project definition and commercial negotiations, and project
management and delivery.

2. Ashley Yelds
August 2015 Page 2 of 6
Ashley makes sure things happen, are done the right way and within the required
timeframe. Core competencies focus on managing diverse sets of people, making sure
they have the resources and know what the direction, targets and priorities are whilst
maintaining a big picture, end result focus.
Education
• B.Sc. Hon’s (Econ), University of South Florida 1996
• MA (Econ), University of South Florida 1999
Summary employment history:
AECOM Limited, London, UK
February 2011 – May 2015
Managing Director PPP Advisory
Transferred by AECOM to expand the firm’s European market presence and capability as
a Technical Advisor, and grow the depth and breadth of relationships with investment
funds and concessionaires. Within two years established the firms’ Due Diligence team
as 2nd
ranked Technical Advisor by number of transactions and transaction value.
Developed and mentored a highly competent team of PPP specialists, drawing upon
technical specialisms from the wider firm as necessary.
• Transaction phase Advisory and Technical Due Diligence and analyses for
investment banks, asset owners and operators
• Lenders Technical Advisor
• Patronage and Revenue analysis
• Project Feasibility and Business Case Analyses
• Bid Submission preparation and presentations
AECOM Enterprises, Washington, DC USA
August 2006 – January 2011
Vice President, P3 Advisory
Transferred by AECOM to Washington DC to establish a Technical Advisory service line
catering to international investors and concessionaires. Also supported AECOM’s
interests in the Meridiam Infrastructure fund, at times covering up to 75% of their technical
due diligence needs. Although primary focus was on projects in the America’s, began the
cultivation of a London-based team to accommodate client needs in Europe.
• Transaction phase Advisory and Technical Due Diligence and analyses for
investment banks, asset owners and operators
• Patronage and Revenue analysis
• Bid Submission preparation and presentations
Maunsell / AECOM, Sydney, Australia
February 2003 – August 2006
Director – Transport Economics
Relocating from the US to Australia for family reasons, joined AECOM as part of their
Transport Planning and Advisory group, leading the Sydney office’s Traffic and Revenue
forecasting team and the Economics business unit. Undertook economic analysis,
feasibility studies and business case reviews of a wide range of transportation related
projects. Cultivated relationships with investment banks, undertook increasingly frequent
extensive assignments in the US.

3. Ashley Yelds
August 2015 Page 3 of 6
• Toll Road Revenue and Patronage analyses for investment banks
• Port Capacity Analysis, Intermodal Freight Planning and Supply Chain Analysis
• Secondment to Department of Infrastructure, Planning and Natural Resources
• Benefit-Cost Analysis
Center for Urban Transportation Research, University of South Florida
1998 – 2003
Senior Research Associate
Established a new program of transportation research and analysis within the research
centre at the university’s College of Engineering. Identified and defined the market niche.
The program self funded (unlike the typical arrangement where programs had a base line
of grant funding), operating on a consultancy model as it’s own business nested within the
state funded research centre. Developed research proposals, marketed the group’s skills
and secured commissions. Hired, mentored and trained research associates.
• Economic analysis and evaluation transportation programs
• Staffing and technical support to Legislative Committees, Legislators, State
Departmental heads, government advisory boards
• Design, Preparation and implementation of surveys, management of data collection
activities (traffic observations, surveys, focus groups)
University of South Florida, Tampa Florida
1999 – 2002
Adjunct Professor, Economics, College of Business
In conjunction with role as a Senior Researcher at the Centre for Urban Transportation
Research, retained by the College of Business to lecture undergraduate students.
Involved selecting texts, preparing syllabus and lecture materials, lecturing and coaching
students.
• Micro Economics, Macro Economics, Health Economics
City of Lakeland, Department of Electric and Water Utilities,
1996 - 1998
Economist, Strategic Planning/Rates Division
Supported the Director of the City’s utility in identifying and assessing market trends,
understanding the long-term energy and water needs. Developed an MS Excel-based
cost of service model to assess investment and lifecycle costs better than proprietary
closed-architecture Cost of Service models could. Undertook sensitivity and scenario
analysis.
• Electric and Water consumption forecasts, data collection, econometric analysis
and report presentation
• Cost of Service models for Utility regulatory submissions and rate determination
• Analysis of public/private partnerships for electricity generation and distribution

4. Ashley Yelds
August 2015 Page 4 of 6
Selected Project Experience
Australia
Sydney: M4, M5, ED, WM7, M2, LCT, CCT
Brisbane: TransApex, CLEM 7
Melbourne: CityLink
NSW Freight and Logistics : Port Botany / Port Kembla / Port Newcastle, Moorebank
Intermodal, Enfield intermodal
Motorways – EU
A2 Motorway in Poznan, Poland
A12 – Ede to Grijsoord, Netherlands
Autoroute A507 (L2 Marseille Bypass,), France
Croatian Motorways privatisation
E18 Hamina-Vaalimaa
E18 Koskenkylä-Kotka
Gebze-Izmir Toll Road and Izmit Bridge, Turkey
Korinthos-Patra-Pyrgos-Tsakona motorway, Greece
N11 PPP Project, Wicklow/Wexford, Ireland
N17/N18 Gort to Tuam PPP Scheme
Turkish Motorways and Bridges privatisation
EU - other
Ijmmuiden Lock, Netherlands
Portfolio assessment: LRT, Metro stations and courts, Spain
Dublin Convention Centre,
Viapass Project, Belgium
Parking
Boston North Station Garage Patronage and Technical Review, Massachusetts
Chicago Loop Parking , Illinois
Chicago Metered Parking System Privatization, Illinois
Chicago Transit Authority’s Cumberland and Rosemont Parking
Massachusetts Eye and Ear Expansion Parking Garage, Boston
New Jersey Transit (NJT) Parking Privatisation, New Jersey
Ohio State University Parking Privatisation, Columbus, Ohio
Ohio State University Parking Refinancing, Columbus, Ohio
Pittsburgh and Indianapolis Parking Privatization
Vinci Park assets sale (multi country)
Motorways – North America
407 Toronto, Ontario, Canada
American Roads LLC –Budget Review and Strategic Business Plan, USA/Canada
Arco Norte, México
Autopista Atizapan – Atlacomulco, México
Autopista Cardel – Poza Rica, México

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August 2015 Page 5 of 6
Autopista Perote-Banderilla and Libramiento de Xalapa / Autopista Saltillo – Monterrey y
El Libramiento de Saltillo, México
Autopista Tuxpan - Tampico, México
Cintra/Meridiam Consortium, Managed Lanes Projects, USA
Coatzacoalcos Tunnel, Estado de Veracruz, México
Dulles Greenway, Virginia
Elizabeth River Tunnels, Virginia
Goethals Bridge Replacement, NY/NJ, US
IDEAL portfolio of toll roads, México
LBJ and NTE Managed Lanes, Texas
Metropolitan Atlanta, Georgia Managed Lanes
Northwest Parkway, Colorado,
North Tarrant Express, Fort Worth, Texas
Pennsylvania Turnpike Privatization, Pennsylvania
Presidio Parkway, San Francisco, California
Puerto Rico Highway 22 and Highway 5 (PR22 and PR5), Puerto Rico, US
SH 130, Texas
SR 125, Caifornia
Africa and Middle East
Abu Dhabi Multimodal Freight Master Plan, United Arab Emirates
Cairo Aerotropolis, Cairo Airport Commission, Egypt
Research, Policy and Government Advisory
Clean Fuel Florida Advisory Board (CFFAB),
Department of Infrastructure, Planning and Natural Resources (NSW)
Federal Highway Administration (FHWA) / Lee County Department of Transportation,
Florida
Florida Department of Community Affairs, Florida Energy Office
Florida Department of Transportation (FDOT) Research Center, Research, Florida
Florida Seaports Office, Research, Florida: Evaluated freight transportation and goods
movement in Florida
Florida Department of Transportation (FDOT) Rail and Freight Office, Research, Florida:
Freight Infrastructure Advisory Board Specialist Advice (NSW)
Government of the Republic of Trinidad and Tobago, National Network of Highways
Program (NNHP), Trinidad and Tobago
Hillsborough County Public Transportation Commission
New York State Department of Transportation (NYSDOT), Tappan Zee Bridge Financial
Feasibility Study, New York, USA
PPP Advisory Support, Secretaria de Comunicaciones y Transportes (SCT), México
PPP Program Development Support, Cali, Valle del Cauca, Colombia
Transportation and Expressway Authority Membership of Florida (TEAMFL), Florida

6. Ashley Yelds
August 2015 Page 6 of 6
Publications, Presentations and Technical Papers
“Road Pricing as a Congestion Management and Revenue Optimising Tool for Tollways”
presented to the Transportation and Expressway Authority Membership of Florida
(TEAMFL), March 2000
“Verifying Alternative Fuel Vehicle Activity” presented at the 6th National Clean Cities
Conference, May 2000
“Using ETC to Provide Variable Tolling: Some Real-World Results” with Mark Burris.
Paper presented at ITS America 2000 Annual Meeting. Boston, MA. May 1-4, 2000
“Real World Applications of Alternative Fuels for Passenger Vehicles” prepared for the
Bay Area Commuter Services Quarterly Report, Sept, 2000
“Analysis of Nominal Grouping Session Interviews, Citizen Perceptions, Lee County
Variable Pricing Program” August 2000
“Variable Toll Pricing Program, Lee County Florida, Revealed Preference Telephone
Survey Findings” Transportation Research Board Journal, January 2001
“Applications for Transitional Fuels in Reducing Mobile Source Emissions and Foreign Oil
Dependency” presented to the Pinellas County Metropolitan Planning Organization Policy
Committee, February 2001
“Alternative Fuels Today and Tomorrow” presented at the Conference on Air Pollution,
Public Health and Automobiles, West Central Florida Air Quality Coordinating Committee,
May 2001
“Prioritizing Freight Improvement Projects” presented to the Transportation Outreach
Program Advisory Council, June 2001
“Project Level Economic Impact Analysis” presented at the Florida Section Institute of
Transportation Engineers Summer Meeting, July 2001
“Alternative Impacts – Policy Implications of Expanded Alternative Fuel Use” prepared for
the FBT Focus, Floridians for Better Transportation, October 2001
“Implications of Expanded Alternative Fuel Use on Transportation Funding” presented to
the Florida House and Senate Transportation Committee Working Group October 2001
“Transportation Outreach Program Infrastructure Investment Prioritization Methodologies”
presented to the Tampa Bay Partnership November 2001
“Research Performance Measuring” presented at the American Association of State
Highway Transportation Offices (AASHTO) Research Advisory Committee (RAC) National
Meeting Kalispell, MT, July 2002
“Applying Cluster Analysis Techniques to Selecting Peer Locations for Comparative
Taxicab Meter Rate Analysis” Transportation Research Board, 2003 Annual Meeting,
January 2003
“Valuing Economic Impact of Transportation Research and Development: Alternative
Approach to Benefit-Cost Analysis” Transportation Research Board, 2003 Annual
Meeting, January 2003