2022 Corporate Report

Corporate Report for the year ended 30 June 2022

Introduction and overview

Business performance

Governance and risk

Directors’ report

Remuneration report

Financial statements

Sustainability supplement

Security holder information

Changes to remuneration framework During FY21, the Remuneration, People and Culture Committee undertook a detailed review of Transurban’s remuneration framework. Following the 2021 AGM, a further review was undertaken in response to concerns raised by security holders. The table below provides a summary of changes both already made and also being proposed to the remuneration framework.

Remuneration Component Remuneration Benchmarking





Peer Group

ASX 10 to 30

ASX 1 to 30

No further change

Short Term Incentive

Pool Funding

50% Group and 50% Individual performance Formula: (Individual STI outcome % + [Individual STI outcome % x Group performance %]) ÷ 2 • Proportional EBITDA (20%) • Proportional Net Costs (20%) • HSE (10%) • Individual Performance (50%)

100% Group performance

No further change

Changes to strengthen the alignment of Group results with individual outcomes Performance measures to determine STI pool outcome

Formula: (Individual STI outcome % x Group performance %)

No further change

• Proportional EBITDA (40%) • Proportional Net Costs (40%) • Health, Safety and Environment (20%)

Introduction of a Group Performance Scorecard 1 to

determine Group performance for the STI pool with the following categories: • Financials (55%) – Proportional EBITDA (40%) – Proportional Net Costs (15%) • HSE (15%) • Customer and Delivery (15%) • Sustainability, Reputation and Leadership (15%) The result from the Group Performance Scorecard will impact 100% of the STI Pool and therefore individual outcomes for Executive KMP. Incorporation of these measures into a Group Performance Scorecard to determine Group performance

Non-financial measures provide the Board with further context in assessing Group performance


Introduction of additional non- financial measures in the areas of Customer, Leadership and Environmental Sustainability; to be used as a discretionary moderator to adjust the STI pool down if Transurban does not meet expectations in these areas

Long Term Incentive

Performance period Three-year performance period

Introduction of a four-year performance period, with

Four-year performance period

transitional arrangement for the FY22 award with 50% subject to a three-year performance period and 50% subject to a four-year performance period

1 Detail to be provided in the FY23 Remuneration Report


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