Cubic : and its Chicago Transit Partners Achieve Milestone of One Billion Ventra Transactions

Award-winning Ventra system delivers customers greater flexibility with account-based open payment travel

SAN DIEGO - May 18, 2016 - Cubic Transportation Systems (CTS), a business unit of Cubic Corporation (NYSE:CUB), today announced that Ventra, the account-based open payment system launched in 2013 for the Chicago Transit Authority (CTA) - the second largest transit agency in the U.S. - and suburban bus operator Pace, has processed more than one billion account-based journeys.

CTA, with daily ridership of 1.6 million journeys, is the first major transit system in North America to implement account-based open payment and is Cubic's first large-scale deployment of its NextAccount technology. Ventra supports both account-based processing through an agency-issued smart card, as well as open payment which enables customers to 'pay as you go' with bank cards they already have or through mobile payment platforms including Apple Pay, Android Pay or Samsung Pay.

Ventra moves passenger data and stored value from the card to the back office, along with fare policy, products and pricing. This process not only makes it easier for agencies to manage changes, but also creates greater security and convenience for customers. Ventra also gives customers the ability to fund and manage their account online through the transit agency's website, where they can take advantage of discounted fare products such as seniors, disabled, military or students.

'Ventra is quickly becoming a game changer for transit fare payment systems,' said Matt Cole, president of Cubic Transportation Systems. 'We are pleased to recognize this great milestone of one billion journey transactions with our Chicago transit partners as it demonstrates the success and convenience of account-based open payment that Ventra brings to its end users - the commuters of Chicagoland.'

'CTA is proud to break new ground for the future of transit ticketing and to be a transit industry leader with Ventra,' said Michael Gwinn, director of revenue and fare systems for the CTA. 'This milestone underscores the support Chicagoans have for CTA, and our goal from day one has been to provide our customers more convenience and flexibility for a seamless transit experience they deserve.'

The Ventra app launched on November 19, 2015, completes the regional system bringing the Metra commuter rail system on board. The app allows Metra riders to also purchase fares on their smartphones through a mobile ticketing platform and by downloading a barcode ticket. Since the app's launch six months ago, it has been downloaded more than 415,000 times, collected over 1.1 million orders and generated $28.5 million in sales.

In 2015, Cubic and CTA were awarded the 'Best New Innovative Practice-Partnership Deployment' by the Intelligent Transportation Society of America. The 12-year design-build-operate-maintain contract for Ventra was awarded by CTA to Cubic in November 2011. Cubic also provides the supporting services to manage and operate Ventra.

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About Cubic Corporation

Cubic Corporation designs, integrates and operates systems, products and services focused in the transportation, defense training and secure communications markets. As the parent company of two major business units, Cubic's mission is to increase situational awareness and understanding for customers worldwide. Cubic Transportation Systems is a leading integrator of payment and information technology and services to create intelligent travel solutions for public transit authorities and operators. Cubic Global Defense is a leading provider of realistic combat training systems, secure communications and networking and highly specialized support services for military and security forces of the U.S. and allied nations. For more information about Cubic, please visit the company's website atwww.cubic.comor on Twitter @CubicCorp.

Media contact:

Debra Montner
Montner Tech PR
PH: 203-226-9290 ext. 112
Cell: 203-984-7861
dmontner@montner.com

Laura Chon
Corporate Communications
Cubic Corporation
858-505-2181
laura.chon@cubic.com