text: Action or Comment 
  
  The Company has benchmarked the issuing of LTIs to the Managing Director and other Key Management 
  Personnel against all companies of comparable market position as part of a broader remuneration 
  comparison using AON Hewitt / McDonald, a review of survey data from the Egan and Associates “The KMP 
  Report” and validation from Godfrey’s Remuneration Group. The findings confirm the level of remuneration, 
  inclusive of performance rights, to be comparable to similarly experienced Managing Directors and other Key 
  Management Personnel with companies of comparable market positioning within the industry. 
  
  The Company has sought to discuss key elements contained in the Remuneration Report with shareholders, 
  shareholder representative groups and proxy advisory groups. Further details regarding the TSR Alpha™ 
  benchmarking methodology are included in the LTI section of this Report. 
  
  Deferred rights for the Managing Director were transitional with eligibility for performance rights only in the 
  future. 
  
  Details of the STI and LTI Plans are provided later in this Report. 