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The Company’s directors present the Remuneration Report prepared in accordance with section 300A of the Corporations Act 2001 (Act) for the Company and the consolidated entity for financial year 2015 (FY2015). The information provided in this Remuneration Report has been audited as required by section 308(3C) of the Act. This Remuneration Report forms part of the Directors’ Report.

The Remuneration Report is presented in four sections.

  1. Letter from the Chairman of the Remuneration Committee

    How Company performance was reflected in Executive remuneration during FY2015.
    Key changes in remuneration during FY2016.

  2. Remuneration Governance Framework [PDF]

    The guiding principles adopted by the Board which underpin all remuneration decisions and actions.
    How the Board, Nominations Committee and Remuneration Committee make remuneration decisions.

  3. Executive Remuneration in Detail [PDF]

    The names and positions of the Executive Director and Group Executives (Executives) whose remuneration details are disclosed.

    A breakdown of the Executive remuneration structure, and summary of the key terms and performance conditions for the “at risk” components (short and long term incentives) including a description of the Combined Incentive Plan. It also includes details of the Clawback (Malus) provision.

    How the Company’s performance over a five year period has impacted on remuneration outcomes.

    The remuneration outcomes for Executives in accordance with the Australian Accounting Standards (accounting standards), including total remuneration, vesting of at risk components and movements in equity holdings. It also includes details of actual remuneration awarded during the year and actual remuneration received.

    The key contract terms governing the employment arrangements of Executives. Details of termination arrangements of exiting Key Management Personnel (KMP) and the equity allocation for Mr Abba.

  4. Non‑Executive Director Remuneration [PDF]

    The names and positions of the Non‑Executive Directors (NEDs) whose remuneration details are disclosed.

    The guiding principles which govern the process and basis for setting NED remuneration.

    An outline of the remuneration structure for NEDs, including current Board and Committee fees.

    Details of NEDs’ total remuneration in FY2015 and FY2014.