Common Disclosure Template - Capital

Transcription

1 Common Disclosure Template - Capital ABN: Greater Building Society Ltd is using the post 1 January 2018 common disclosure template because we are fully applying the Basel III regulatory adjustments as implemented by APRA Year Ended 30 June 2015 Year Ended 30 June 2014 Common Equity Tier 1 Capital: instruments and reserves M's M's 2 Retained Earnings Accumulated other comprehensive income (and other reserves) Common Equity Tier 1 capital before regulatory adjustments Common Equity Tier 1 Capital: regulatory adjustments 11 Cash-flow hedge reserve National specific regulatory adjustments c of which: deferred fee income (2.4) (2.7) 26d of which: equity investments in financial institutions e of which: deferred tax assets f of which: capitalised expenses g of which: investments in commercial (non-financial) entities that are deducted under APRA prudential requirements Total Regulatory adjustments to Common Equity Tier Common Equity Tier 1 Capital (CET1) Tier 1 Capital (T1) Tier 2 Capital: instruments and provisions 50 Provisions Tier 2 Capital before regulatory adjustments Tier 2 Capital (T2) Total Capital (TC) Total risk-weighted assets based on APRA standards 2, ,118.0 Capital Ratios and Buffers 61 Common Equity Tier 1 (as a percentage of risk-weighted assets) 17.81% 17.09% 62 Tier 1 (as a percentage of risk-weighted assets) 17.81% 17.09% 63 Total Capital (as a percentage of risk-weighted assets) 18.22% 17.47% 64 Buffer requirement (minimum CET1 requirement of 4.5% plus capital conservation buffer of 2.5% plus any countercyclical 7.00% 7.00% buffer requirements expressed as a percentage of risk-weighted assets) 65 of which: capital conservation buffer requirement 2.50% 2.50% 66 of which: ADI-specific countercylical buffer requirements 0.00% 0.00% 68 Common Equity Tier 1 available to meet buffers (as a percentage of risk-weighted assets) 17.81% 17.09%

2 ABN: Capital Reconciliation For the Year Ended 30 June 2015 Greater Building Society Ltd is the head of the Level 2 consolidated group to which this Published financial statement As at 30-Jun-15 Regulatory scope of Consolidation As at 30-Jun-15 Reference to Common Disclosure Template Assets Cash and cash equivalents 171,254 93,533 Investment securities 859, ,753 of which: equity investments in financial institutions d Current tax asset 2,798 2,798 Other receivables 1,075 1,186 Derivative financial instruments 3,067 2,935 Loans and advances 4,323,687 4,046,631 of which: credit loss reserve 9, of which: deferred fee income (2,417) 26c of which: capitalised expenses 2,955 26f Other financial assets 320 8,624 of which: equity investments in financial institutions d of which: investments in commercial (non-financial) entities that 0 26g are deducted under APRA prudential requirements tax assets 3,331 6,940 26e Property, plant and equipment 27,932 27,932 Investment properties 4,995 4,995 Intangible assets 3,576 3,576 26f Total Assets 5,401,249 5,137,903 Liabilities Payables and other liabilities 8,655 8,129 Unearned Income 3,998 3,998 Deposits 4,699,078 4,680,195 of which: capitalised expenses (45) 26f Current tax liabilities 0 3,608 of which: deferred tax liabilities 3,608 26e Derivative financial instruments Other financial liabilities 256,319 18,756 Provisions 9,367 9,367 Total Liabilities 4,977,606 4,724,237 NET ASSETS 423, ,666 Equity Reserves 28,809 18,832 3* of which: cash flow hedge reserve 1, Retained profits 394, ,834 2 Non-controlling interest Total Equity 423, ,666 * Reserve reconciliation to 'Common disclosure template' Reserves 18,832 Less fair value through other comprehensive income reserve (0) Less discounting of asset revaluation reserve (2,229) Reserves as per 'common disclosure template' 16,603

3 Capital Reconciliation (cont) ABN: The following entities are included within the accounting scope of consolidation, but excluded from the regulatory scope of Entity Assets Liabilities GBS Receivables Trust No. 4 65,829 65,829 Waratah GBS Mortgages Trust No , ,378 The above Trust's are special purpose vehicles for securitised funding programs. They are established by deed and domiciled in Australia.

4 ABN: Capital Reconciliation For the Year Ended 30 June 2014 Greater Building Society Ltd is the head of the Level 2 consolidated group to which this Published financial statement As at 30-Jun-14 Regulatory scope of Consolidation As at 30-Jun-14 Reference to Common Disclosure Template Assets Cash and cash equivalents 234, ,697 Investment securities 576, ,280 of which: equity investments in financial institutions d Other receivables 916 1,073 Derivative financial instruments 3,546 3,469 Loans and advances 4,229,021 3,953,887 of which: credit loss reserve 8, of which: deferred fee income (2,713) 26c of which: capitalised expenses 3,165 26f Inventories 0 0 Other financial assets 3,547 13,587 of which: equity investments in financial institutions d of which: investments in commercial (non-financial) entities that 3,228 26g are deducted under APRA prudential requirements tax assets 3,279 6,081 26e Property, plant and equipment 27,759 27,759 Investment properties 4,303 4,303 Intangible assets 1,663 1,663 26f Total Assets 5,084,914 4,825,798 Liabilities Payables and other liabilities 7,552 7,335 Deposits 4,423,591 4,402,234 Current tax liabilities 4,607 7,410 of which: deferred tax liabilities 2,803 26e Derivative financial instruments Other financial liabilities 251,719 21,347 Provisions 10,057 10,057 Total Liabilities 4,697,656 4,448,506 NET ASSETS 387, ,292 Equity Reserves 30,051 20,085 3* of which: cash flow hedge reserve 2, Retained profits 357, ,207 2 Non-controlling interest 0 (0) 2 Total Equity 387, ,292 * Reserve reconciliation to 'Common disclosure template' Reserves 20,085 Less fair value through other comprehensive income reserve (2,547) Less discounting of asset revaluation reserve (1,293) Reserves as per 'common disclosure template' 16,245

5 Capital Reconciliation (cont) ABN: The following entities are included within the accounting scope of consolidation, but excluded from the regulatory scope of consolidation under the securitisation deconsolidation principals that remove assets, liabilities, revenues and expenses of special purpose vehicles (SPV's) that meet the requirements of Prudential Standard APS 120 Securitisation. Assets Liabilities Entity GBS Receivables Trust No. 4 86,878 86,878 Waratah GBS Mortgages Trust No , ,814 The above Trust's are special purpose vehicles for securitised funding programs. They are established by deed and domiciled in Australia.

6 Risk Exposures and Assessment ABN: Capital Adequacy 6 months to 31 Dec months to 30 Sep 2015 Capital Requirement (in terms of risk weighted assets): Claims Secured against Residential Mortgages 1,476,422 1,457,564 Other Retail 111, ,729 Investments in ADI's 288, ,721 Securitisation 41,432 36,319 Other 115,921 87,233 2,033,753 2,020,565 Capital Requirement for Operational Risk 298, ,753 TOTAL CAPITAL REQUIREMENT 2,332,222 2,314,317 Common Equity Tier 1 Ratio 17.89% 17.62% Tier 1 Ratio 17.89% 17.62% Total Capital Ratio 18.29% 18.00%

7 Risk Exposures and Assessment (cont) For the 6 Months Ended 31 Dec 2015 ABN: Credit Risk Gross Credit Risk Exposures Average Gross Credit Risk Exposures - over the period Loans and Advances Claims Secured by Residential Mortgages 3,997,851 3,961,089 Other Loans 111, ,748 Other Liquidity Investments (including cash) 1,018,052 1,031,150 Other On-balance Sheet Assets 68,572 57,306 Off-Balance Sheet Assets 69,276 63,162 Total Credit Risk Exposures (excluding equities & securitisation) 5,265,134 5,219,456 Specific Outstanding Balance Provision Impaired Facilities - Loans and advances 8,131 2,735 - Other - - Past Due Facilities - Loans and advances 2, Other - - Bad & Doubtful Debt Expense Expense Net movement in Specific Provision - Loans and advances Other - Bad Debt write offs directly to profit and loss - Loans and advances Other - Total Bad & Doubtful Debt Expense for the Period 1,044 General Reserve for Credit Losses 9,226

8 Risk Exposures and Assessment (cont) For the 3 Months Ended 30 Sep 2015 ABN: Credit Risk Gross Credit Risk Exposures Average Gross Credit Risk Exposures - over the period Loans and Advances Claims Secured by Residential Mortgages 3,934,073 3,942,708 Other Loans 103, ,431 Other Liquidity Investments (including cash) 1,138,919 1,037,700 Other On-balance Sheet Assets 58,495 51,673 Off-Balance Sheet Assets 67,246 60,105 Total Credit Risk Exposures (excluding equities & securitisation) 5,302,462 5,196,617 Specific Outstanding Balance Provision Impaired Facilities - Loans and advances 7,478 2,717 - Other - - Past Due Facilities - Loans and advances Other - - Bad & Doubtful Debt Expense Expense Net movement in Specific Provision - Loans and advances Other - Bad Debt write offs directly to profit and loss - Loans and advances Other - Total Bad & Doubtful Debt Expense for the Period 903 General Reserve for Credit Losses 8,953

9 ABN: Risk Exposures and Assessment (cont) For the 6 Months Ended 31 Dec 2015 Securitisation Exposures (a) Investment Securities Balance Gain/(Loss) on Sale Greater Group Originated: Securities held in Asset Backed Commercial Paper (ABCP) - Housing 0 0 Securities held in ABCP - Other 0 0 Securities held in Residential Mortgage Backed Securities (RMBS) 430,734 0 Total Greater Group Originated Securities 430,734 0 Non Greater Group Originated: Securities held in Asset Backed Commercial Paper (ABCP) - Housing 0 0 Securities held in ABCP - Other 0 0 Securities held in Commercial Mortgage Backed Securities (CMBS) 16,668 0 Securities held in Residential Mortgage Backed Securities (RMBS) 126,588 0 Total Non Greater Group Originated Securities 143,256 0 Total Investment Securities 573,990 0 (b) Securitised Assets - Greater Group Originated * On Balance sheet (lending): Housing Loans 403,346 Other 0 Total On Balance 403,346 Notional Amount Off Balance Sheet: Liquidity Facilities 2,158 Funding Facilities 50,249 Swaps 78,416 Total Off Balance 130,823 Total Securitised Assets not transferred 534,169 Balance Lending: Housing Loans 284,537 Other 0 Total Lending 284,537 Notional Amount Other Facilities: Liquidity Facilities 0 Funding Facilities 33,512 Swaps 403,346 Total Other Facilities 436,857 Total Securitised Assets transferred 721,394 Total Securitised Assets transferred 1,255,563 * The Greater Group has no Securitised Assets that are not Greater Group Originated

10 ABN: Risk Exposures and Assessment (cont) For the 3 Months Ended 30 Sep 2015 Securitisation Exposures Balance Gain/(Loss) on Sale (a) Investment Securities Greater Group Originated: Securities held in Asset Backed Commercial Paper (ABCP) - Housing 0 0 Securities held in ABCP - Other 0 0 Securities held in Residential Mortgage Backed Securities (RMBS) 431,133 0 Total Greater Group Originated Securities 431,133 0 Non Greater Group Originated: Securities held in Asset Backed Commercial Paper (ABCP) - Housing 0 0 Securities held in ABCP - Other 0 0 Securities held in Commercial Mortgage Backed Securities (CMBS) 20,000 0 Securities held in Residential Mortgage Backed Securities (RMBS) 118,675 0 Total Non Greater Group Originated Securities 138,675 0 Total Investment Securities 569,807 0 (b) Securitised Assets - Greater Group Originated * On Balance sheet (lending): Housing Loans 410,261 Other 0 Total On Balance 410,261 Notional Amount Off Balance Sheet: Liquidity Facilities 2,153 Funding Facilities 49,167 Swaps 82,375 Total Off Balance 133,695 Total Securitised Assets not transferred 543,956 Balance Lending: Housing Loans 275,337 Other 0 Total Lending 275,337 Notional Amount Other Facilities: Liquidity Facilities 0 Funding Facilities 32,711 Swaps 410,261 Total Other Facilities 442,972 Total Securitised Assets transferred 718,309 Total Securitised Assets transferred 1,262,265 * The Greater Group has no Securitised Assets that are not Greater Group Originated

11 APRA Remuneration Disclosure Year Ended 20 June 2015 Qualitative Disclosure The following remuneration disclosures have been prepared in line with the prudential standard APS 330 Public Disclosure and Board approved policy. The Australian Prudential Regulatory Authority s (APRA) prudential disclosures require that all Authorised Deposit-taking Institutions (ADI s) meet the minimum requirements for public disclosure of qualitative and quantitative information of their remuneration practices. The Board of the Greater Building Society Ltd (The Greater) are responsible for remuneration governance and has established a sub-committee (Remuneration Committee) primarily for the purpose of recommending to the Board levels of remuneration for The Greater s employees and non-executive directors. The Remuneration Committee comprises four (4) independent non executive Directors who are appointed by the Board. The responsibilities of the Remuneration Committee are to: o Review and make recommendations to the Board on the total remuneration of the Chief Executive Officer, direct reports of the Chief Executive Officer, other persons whose activities may in the Committee s opinion affect the financial soundness of The Greater, and any other person specified by APRA. Total remuneration is the total value of the fixed and variable cash components [including any short, medium and long term incentives], contributions to superannuation and any non-cash components of remuneration. o o o o Review recommendations from the Chief Executive Officer on the annual salary review and bonus payments of non-graded employees other than those covered above and make recommendations to the Board on any proposed increases. Review the recommendations from the Chief Executive Officer on negotiations of The Greater s Enterprise Agreement with employees and make recommendations to the Board on any proposed agreement. Assist the Board in establishing an appropriate remuneration level for non-executive directors to be recommended to members for approval at general meeting. Periodically review and make recommendations to the Board on The Greater s Remuneration Policy required under APRA Prudential Standard CPS510. AFSL/Australian Credit Licence Number:

12 For the purposes of this Disclosure only, the following positions are considered Senior Managers as defined under APS330: o All members of the Executive team (7), o Head of Internal Audit (1) and o Manager Lending Services (currently vacant). The Greater does not consider it has any persons that meet the definition of material risk takers under APS 330. The Greater has developed a Remuneration Policy consistent with the requirements of CPS 510 Governance. The objectives of the Remuneration Policy are to ensure that: o Remuneration is market competitive. o Remuneration is commensurate with performance and the results delivered. o Remuneration is aligned with The Greater s long term financial soundness o Remuneration is consistent with The Greater s risk appetite and does not encourage risktaking that is contrary to its sound and prudent management. Salary budgets are developed each year based on factors including economic indicators, market movements and the expected performance of The Greater. The Greater s remuneration philosophy is that remuneration should be aligned with performance and to support the organisation s corporate strategy; and remuneration for each role is based on benchmarking roles, understanding market conditions as well as the experience, skills and performance of the individual in the role. The Greater also utilises a Remuneration Procedure which aims to ensure rewards are commensurate with performance and the results that are delivered. The Greater aligns the remuneration structure to business objectives to, supports The Greater s values and culture, balance competitive pay with affordability, and provides flexibility to review employees in line with their contribution and value. Alignment fo the remuneration structure is achieved through the salary review process, Line Manager feedback and Enterprise Agreement increases. Risk and Compliance employees are remunerated independently of the businesses they oversee through the Remuneration Committee review and approval process and in accordance with benchmarking data taken from several independent salary surveys (eg. FIRG, Aon Hewitt). The key risks taken into account when implementing remuneration measures include: o Attraction and retention of skilled employees o Engagement and productivity of employees o Competitive remuneration for market and industry o Company Strategy AFSL/Australian Credit Licence Number:

13 The key risks are managed by the following instruments: o Independent industry remuneration benchmarking surveys o Review of similar ADI Enterprise Agreement s for benchmarking The nature and type of these instruments was not changed during the 2014/15 financial year. In addition to base salary, Senior Managers may be eligible to participate in an applicable bonus scheme. The Greater has implemented a separate short term incentive plan (bonus scheme) for the Executive. The Executive Incentive Plan is a significant component of the remuneration framework at The Greater, with individual Executive performance a key element in determining the incentive outcome. The Executives individual performance, in combination with The Greater s financial performance each play a significant role in determining bonus payment. The Executive Incentive Plan defines the incentive framework of participating Executives by providing a dual focus and balance between corporate and individual key performance indicators in the assessment and payment of incentive based remuneration to a participating Executive under the Executive Incentive Plan. The amount of the incentive payment for the financial year will, subject to the Executive Incentive Plan terms, be: o 2/3 in cash (less applicable taxes) when the amount of the incentive payment is determined; and o 1/3 in cash (less applicable taxes) on the finalisation and audit of The Greater financial statements for the second financial year after the financial year for which the incentive payment was assessed and determined (deferred Executive Incentive Plan / amounts). Other Senior Managers other than those under the Executive Incentive Plan, have their performance linked to a final performance appraisal to account for performance in the financial year. The appraisal ratings are used to determine a bonus amount which directly correlates to the average performance rating. Performance ratings are given for core and role specific competencies relating to individual performance. Each competency has behavioural descriptors to ensure ratings are aligned to competencies. The bonus is calculated as a percentage of individual employee s base salary. In addition, this year a calibration process was introduced to Develop consistency in the application of performance ratings. Ensure equality of evaluation by managers; and Ensure fairness of appraisal ratings and ultimately bonus distribution. The maximum value of the bonus range is adjusted annually based on organisational performance hence the bonus is flexible to adjust in instances of weaker organisational performance metrics. AFSL/Australian Credit Licence Number:

14 During the year, the Remuneration Committee, which is a sub-committee of the Board of Greater Building Society Ltd, met four times. Remuneration of the Board Remuneration Committee 2015 Members are not remunerated specifically for their appointment to the Committee but as their appointment as directors of The Greater. 486,055 The table below presents the Senior Managers who received variable remuneration, guaranteed bonuses, sign-on awards or severance payments during the financial year. Variable remuneration, guaranteed bonuses, sign-on award and severance payments 2015 Number of Employees Total () Variable remuneration award discretionary bonus 6 435,074 Guaranteed bonus Nil Nil Sign-on award Nil Nil Severance Payment (redundancy/severance paid as lump sum on termination of employment) 6 2,112,691 Total 12 2,547,765 The table below presents the movement in deferred remuneration: Outstanding at 30 June 2015 Paid during the year remuneration Cash Shares () Other Total Cash Shares () Sharelinked Sharelinked Other Total remuneration preadjustment Adjustmentsimplicit Markto-market value of shares Adjustmentsexplicit Clawbacks remuneration Postadjustment 361, , , , , , , ,112 AFSL/Australian Credit Licence Number:

15 The table below presents total value of remuneration awards for Senior Managers: Total value of remuneration awards for the current financial year Unrestricted Total Fixed Remuneration Cash-based 2,287,025-2,287,025 Shares and share-linked instruments Other 296, ,174 2,583,199-2,583,199 Variable Remuneration Cash-based 291, , ,074 Shares and share-linked instruments Other 291, , ,074 Total 2,875, ,238 3,018,272 The table below presents total value of remuneration awards for material risk takers: Total value of remuneration awards for the current financial year Unrestricted Total Fixed Remuneration- Cash-based Shares and share-linked instruments Other Variable Remuneration Cash-based Shares and share-linked instruments Other AFSL/Australian Credit Licence Number:

16 ABN: APRA Remuneration Disclosure Requirements Year Ended 30 June 2014 Qualitative Disclosures The Board of the Greater Building Society Ltd (The Greater) has established a sub-committee (Remuneration Committee) primarily for the purpose of recommending to the Board levels of remuneration for The Greater s staff and non-executive directors. Committee members and chairperson are appointed by the Board and shall comprise at least four (4) independent, non-executive Directors. The responsibilities of the Remuneration Committee are to: o Review and make recommendations to the Board on the total remuneration of the Chief Executive Officer, direct reports of the Chief Executive Officer, other persons whose activities may in the Committee s opinion affect the financial soundness of The Greater, any other persons covered by The Greater s Remuneration Policy, and any other person specified by APRA. Total remuneration is the total value of the fixed and variable cash components [including any short, medium and long term incentives], contributions to superannuation and any non-cash components of remuneration. o Review recommendations from the Chief Executive Officer on the annual salary review and bonus payments of non-graded staff other than those covered above and make recommendations to the Board on any proposed increases. o Review the recommendations from the Chief Executive Officer on negotiations of The Greater s Enterprise Agreement with staff and make recommendations to the Board on any proposed agreement. o Assist the Board in establishing an appropriate remuneration level for non-executive directors to be recommended to members for approval at general meeting. o Periodically review and make recommendations to the Board on The Greater s Remuneration Policy required under APRA Prudential Standard CPS510. The Remuneration Committee engaged external consultants Egan & Associates in April 2011 to advise them on remuneration. For the purposes of this Disclosure, the following positions are considered Senior Managers as defined under APS330: o All members of the Executive team (9), o Head of Internal Audit (1) and o Manager Lending Services (1). The Greater does not consider it has any persons that meet the definition of material risk takers under APS 330. The Greater has developed a Remuneration Policy consistent with the requirements of CPS 510 Governance. The Remuneration Policy was reviewed in September 2012, with changes including: o The introduction of the document, The Greater Remuneration Procedure. The objectives of the Remuneration Policy are to ensure that: o Remuneration is market competitive. o Remuneration is commensurate with performance and the results delivered. o Remuneration is aligned with The Greater s long term financial soundness o Remuneration is consistent with The Greater s risk appetite and does not encourage risk-taking that is contrary to its sound and prudent management.

17 Qualitative Disclosures ABN: Salary budgets are developed each year based on factors including economic indicators, market movements and the expected performance of The Greater. The Greater also utilises a Remuneration Procedure document which aims to ensure rewards are commensurate with performance and the results that are delivered. The Greater s philosophy is that remuneration should be commensurate with performance and support the organisation s corporate strategy. Remuneration for each role is based on benchmarking, market conditions as well as the experience, skills and performance of the individual in the role. The Greater ensures the remuneration structure is linked to business objectives, supports The Greater s values and culture, balances competitive pay with affordability, and provides flexibility to acknowledge employees in line with their contribution and value. This is achieved through the salary review process, Line Manager feedback and Enterprise Agreement increases. Risk and Compliance employees are remunerated independently of the businesses they oversee through the Remuneration Committee review and approval process and in accordance with benchmarking data taken from several independent salary surveys (eg. FIRG). The key risks taken into account when implementing remuneration measures include: o Attraction and retention of skilled employees o Engagement and productivity of employees o Competitive remuneration for market and industry These risks are managed by the following measures: o Independent industry remuneration benchmarking surveys o Review of similar ADI Enterprise Agreement s for benchmarking The nature and type of measures has not changed in the 2012/13 financial year. In addition to base salary, Senior Managers may be eligible to participate in an applicable bonus scheme. The Greater has implemented a separate short term and long term incentive plan (bonus scheme) for the Executive. The Executive Incentive Plan is a significant component of the remuneration framework at The Greater, with individual Executive performance as a key element contributing to the incentive outcome. The Executives individual performance, in combination with The Greater s financial performance will play a significant role in determining any bonus payment applicable. The Executive Incentive Plan refines the incentive framework of participating Executives by providing a dual focus and balance between corporate and individual key performance indicators in the assessment and payment of incentive based remuneration to a participating Executive under the Executive Incentive Plan. The amount of the incentive payment for the financial year will, subject to the Executive Incentive Plan terms, be: o 2/3rds in cash (less applicable taxes) when the amount of the incentive payment is determined, and o 1/3 rd in cash (less applicable taxes) on the finalisation and audit of The Greater financial statements for the second financial year after the financial year for which the incentive payment was assessed and determined (deferred Executive Incentive Plan amounts). Other Senior Managers other than those under the Executive Incentive Plan, have their performance linked to a mid point and final performance appraisal to account for performance in the financial year. The ratings of the appraisals are used to determine a bonus amount which directly correlates for the average performance rating. Performance ratings are given for core and role specific competencies relating to individual position descriptions. Each competency has behavioural descriptors to assist in administration and to ensure ratings are aligned to the competencies. The bonus is calculated as a percentage of individual employee s base salary. The maximum value of the bonus range is adjusted annually based on organisational performance hence the bonus is flexible to adjust in instances of weaker organisational performance metrics.

18 ABN: Qualitative Disclosures During the year, the Remuneration Committee, which is a sub-committee of the Board of Greater Building Society Ltd, met eight times. Remuneration of the Board Remuneration Committee 2014 Members are not remunerated specifically for their appointment to the Committee but as their appointment as directors of The Greater. 473,137 The table below presents the Senior Managers who received variable remuneration, guaranteed bonuses, sign-on awards or severance payments during the financial year. Variable remuneration, guaranteed bonuses, sign-on award and severance payments 2014 Number of Employees Total () Variable remuneration award discretionary bonus ,404 Guaranteed bonus Nil Nil Sign-on award Nil Nil Severance Payment (redundancy/severance paid as lump sum on termination of employment) Nil Nil Total ,404 The table below presents the movement in deferred remuneration: Outstanding at 30 June 2014 Paid during the year remuneration Cash Shares () Other Total Cash Shares () Sharelinked Sharelinked Other Total remuneration preadjustment Adjustmentsimplicit Markto-market value of shares Adjustmentsexplicit Clawbacks remuneration Postadjustment 520, , , ,

19 ABN: Qualitative Disclosures The table below presents total value of remuneration awards for Senior Managers: Total value of remuneration awards for the current financial year Unrestricted Total Fixed Remuneration Cash-based 2,616,813-2,616,813 Shares and share-linked instruments Other 423, ,221 3,040,034-3,040,034 Variable Remuneration Cash-based 389, , ,404 Shares and share-linked instruments Other 389, , ,404 Total 3,429, ,551 3,619,438 The table below presents total value of remuneration awards for material risk takers: Total value of remuneration awards for the current financial year Unrestricted Total Fixed Remuneration- Cash-based Shares and share-linked instruments Other Variable Remuneration Cash-based Shares and share-linked instruments Other