This report sets out the remuneration strategy and arrangements for Key Management Personnel (KMP) of Sheffield Resources Limited for year ended 30 June 2024. This Remuneration Report forms part of the Directors’ Report and has been audited in accordance with the Corporations Act 2001. This report contains the following sections: Section 1: Key Management Personnel 24 Section 2: Remuneration Principles 24 Section 3: 2024 Financial Year Remuneration Summary 25 Section 4: Remuneration Governance 26 Section 5: 2024 Financial Year Senior Executive KMP Remuneration 26 Section 6: 2024 Financial Year Remuneration & Performance Outcomes 32 Section 7: Non-Executive Directors Remuneration 33 Section 8: Statutory Remuneration Disclosure Tables 34 Section 9: 2025 Financial Year Planned Remuneration Changes 37 SECTION 1: 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 Executive KMPs for the purposes of this report. Name Position Term as KMP Non-Executive Directors John Richards Lead Independent Non-Executive Director Full Year Ian Macliver Non-Executive Director Full Year Gordon Cowe Non-Executive Director Full Year Vanessa Kickett Non-Executive Director Full Year Senior Executive KMPs Bruce Griffin Executive Chair Full Year Mark Di Silvio Chief Financial Officer and Company Secretary Full Year SECTION 2: REMUNERATION PRINCIPLES Sheffield is committed to aligning Senior Executive KMP remuneration to long term shareholder returns. To this end, the Company’s remuneration practices are designed to attract and retain employees by identifying and rewarding high performers and recognising their contribution to the continued growth and success of the organisation. The key objectives of Sheffield’s remuneration policy and practices are to: – provide total remuneration and employment conditions which will enable the Company to attract and retain high quality Senior Executive KMPs to the business; – align remuneration with the creation and maximisation of shareholder value and the achievement of Company strategy, business objectives and core values; – ensure the structure and quantum of remuneration is competitive and reflective of the external market in which the Company operates; – provide a mix of fixed and variable, performance-based remuneration to drive superior performance; – reward the achievement of individual and Company objectives, thus promoting a balance of individual performance and teamwork across the executive management team; – provide a fair, equitable and scalable system that allows for sustainable business growth and is regularly reviewed for relevance and reliability; and – be transparent, easily understood and is acceptable to shareholders. The Board’s specific remuneration aims for the year ended 30 June 2024 were to: – retain a core group of Senior Executive KMPs at an early stage in the Company’s development; Remuneration Report (audited) 24 Sheffield Resources Limited Annual Report 2024
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