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A Message from the CEO


We are proud to share another year of record-setting performance. In 2025, the 91 Express Lanes recorded nearly 22 million trips, the highest since the Orange County Transportation Authority (OCTA) purchased the privately held managed lanes for the public good in 2003.

Excess toll revenues continue to benefit the entire State Route 91 corridor. Funded in part by excess tolls, the 91 Improvement Project launched in March to reduce congestion, improve travel times, and enhance safety along one of Orange County’s busiest transportation corridors.

In addition, our strong bond ratings remain steady, reflecting consistent performance and confidence in future growth.

For drivers, these improvements mean millions of reliable, congestion-free journeys that save time and reduce stress. Commuters between Orange and Riverside counties continue to count on the 91 Express Lanes as a safe, dependable transportation option.

We remain committed to helping travelers move safely and efficiently throughout the region.

Sincerely,

Darrell E. Johnson
Chief Executive Officer
Orange County Transportation Authority

$70.1 million

Gross toll revenues in 2025 - up 5.1% from the prior year.

22 million

Number of trips during 2025 - a 3.9% increase over last year.

$1 billion

In improvements are planned over the next 20 years.

Introduction: A Landmark Year of Achievements


The numbers just keep getting better. During 2025, the 91 Express Lanes recorded nearly 22 million trips, which is a 3.9% increase over last year. It also generated $70.1 million in gross toll revenues, up 5.1% from the prior year. For drivers, those record numbers translate into millions of reliable, congestion-free journeys that saved valuable time and reduced daily stress.

More Life on Time

Every trip on the ten-mile express lanes between Orange and Riverside counties gave drivers what they value most: an opportunity to live life on time and spend more moments with their loved ones, pursue their passions, and contribute to their communities.

That all-time-high trip count reaffirms that the OCTA made a wise investment when it bought the express lanes in 2003. The purchase eliminated a non- compete clause and opened the door to regional transportation improvements, including the recently launched 91 Improvement Project.

Toll Revenue Drives More Reinvestment Into the 91 Corridor


Funded in part by excess toll revenue from the 91 Express Lanes, the 91 Improvement Project will improve mobility and enhance safety and overall traffic flow along one of Orange County’s busiest transportation corridors.

Improving Regional Transportation

In March, OCTA kicked off the three-stage project between State Route 57 and State Route 55 to reduce congestion, improve travel times, and provide safer conditions for drivers, cyclists, and pedestrians along State Route 91 (SR-91).

Led by OCTA in partnership with Caltrans, the 91 Improvement Project is designed to enhance connections between major freeways while modernizing key interchanges to reduce weaving and merging, as well as rebuild major overcrossings to include new safety features, sidewalks, and bike lanes.

Everyone will benefit from these improvements to the regional transportation network, not just those who use the 91 Express Lanes.

LONG-TERM INVESTMENT


Since purchasing the managed lanes in 2003, OCTA’s ownership of the 91 Express Lanes and partnership with the Riverside County Transportation Commission (RCTC) have directly resulted in the investment of nearly $2 billion to improve the regular SR-91 lanes on both sides of the county line.

An additional $1 billion in improvements is planned over the next 20 years. RCTC operates the 91 Express Lanes in Riverside County.

Smart Upgrades Keep Safety and Reliability at Forefront of Operations


This year, OCTA completed several important technical upgrades to enhance driver safety and ensure the continued reliability of the 91 Express Lanes.

Upgraded Monitoring

Modern digital cameras supported by new wiring and pedestals replaced outdated analog cameras. These improvements provide clearer, more dependable visibility for monitoring traffic conditions.

OCTA also upgraded the Advanced Traffic Management System (ATMS) and the video wall in the Traffic Operations Center. The operations center is the hub that monitors conditions and coordinates swift responses to keep traffic moving. With these new tools, operators can more quickly identify incidents or hazards and dispatch the proper assistance. The Freeway Service Patrol, Caltrans, and the California Highway Patrol are available to respond to accidents, incidents, disabled vehicles, and road hazards thanks to prompt notification by those in the operations center.

Shared benefits


The camera and ATMS improvements not only support the 91 Express Lanes but are also shared with Caltrans to monitor traffic and incidents in general-purpose lanes on the SR-91 corridor.

Together, these investments strengthen OCTA’s ability to manage the lanes efficiently, improve safety along the 91 Express Lanes and the SR-91 corridor, and deliver the reliability that helps drivers live life on time.

More Moments and Achievements Thanks to Decades of Financial Reliability


Bond ratings for the 91 Express Lanes have remained among the strongest in the tolling industry for more than two decades, reflecting both investor confidence and OCTA’s sound financial management.

Exceptional Ratings

This year, ratings again held firm at exceptional levels: Moody’s Investors Service: Aa3; Fitch Ratings: AA-; and Standard & Poor’s: AA-. These ratings underscore a proven track record of strong operational performance, reliable revenue generation, favorable traffic growth prospects, and a short remaining debt term.

For investors, these consistently high ratings demonstrate the 91 Express Lanes’ status as a well-managed and stable asset, ensuring long-term value and reliability. For travelers, they reflect the continued strength of a system that delivers a dependable, time-saving alternative between Orange and Riverside counties. By reducing congestion, improving travel predictability, and supporting regional mobility, the 91 Express Lanes has proven to be a smart investment and travel alternative.

Download Financial Report PDF