This report sets out the remuneration strategy and arrangements for Key Management Personnel (KMP) of Sheffield Resources Limited for year ended 30 June 2023. This Remuneration Report forms part of the Directors’ Report and has been audited in accordance with the Corporations Act 2001. Key management personnel (KMP) For the purposes of this report, KMP are defined as those persons having authority and responsibility for planning, directing and controlling the major activities of the Company and the Group, directly or indirectly, including any Director (whether Executive or otherwise) of the Company and are detailed in the table below. The Executive Chair and other executive management listed in the table below are collectively defined as the Senior Executives for the purposes of this report. Name Position Non-Executive Directors John Richards Lead Independent Director Ian Macliver Non-Executive Director Gordon Cowe Non-Executive Director Vanessa Kickett Non-Executive Director Senior Executives Bruce Griffin Executive Chair Mark Di Silvio Chief Financial Officer and Company Secretary Board policy The Board is responsible for the nomination and appointment of Directors and the remuneration of its Directors, Managing Director and Senior Executives. To assist the Board in meeting its obligations and to address all matters pertaining to Board nomination and executive remuneration, the Board has set in place a Nomination & Remuneration Committee during the reporting period. Role of the Remuneration & Nomination Committee Acting on behalf of the Board, the Remuneration & Nomination Committee is responsible for oversight of the remuneration policies, evaluating and monitoring the performance of the Senior Executives. The Board, following recommendation of the Remuneration & Nomination Committee, determines the remuneration of Senior Executives. The objective of the Remuneration & Nomination Committee is to ensure that the Company’s remuneration policies and practices attract and retain executives and directors who will create long term value for shareholders. Use of external remuneration consultants The Remuneration & Nomination Committee engaged The Reward Practice to provide benchmarking and market data analysis in relation to the remuneration of Senior Executives and Non-Executive Directors during the year ended 30 June 2023. Engagement of The Reward Practice sought to assist the Committee and the Board in assessing the competitiveness of remuneration and compensation arrangements. The Reward Practice was engaged by the Remuneration & Nomination Committee Chair and reported to the Committee and the Board. The Committee and the Board considered the information provided by The Reward Practice, along with other factors, in making their respective ultimate remuneration decisions. The Board is satisfied that the interactions between The Reward Practice and the Senior Executives were negligible, involving provision of remuneration data and related payroll information for consideration. The Reward Practice has relevant procedures in place to minimise potential opportunities for collaboration or undue influence from Senior Executives. The Board is therefore satisfied that the market data provided was free from undue influence from Senior Executives. Total fees paid to The Reward Practice for services during the year ended 30 June 2023 were $12,650. Remuneration Report (audited) 20 Sheffield Resources Limited Annual Report 2023
RkJQdWJsaXNoZXIy MjE2NDg3