Remuneration report
The FCF growth associated with the FY25 LTI plan includes matters that have already been disclosed. These relate to the expected commencement of corporate tax payments from FY27 and the reduced contribution from the M5 West concession to 50% ownership from 100% after it transfers to WCX in FY27. The target growth range will require management action in order to offset the matters noted above and is therefore considered appropriately challenging for Management. It should be noted that there are a number of potential sources of uncertainty such as unanticipated changes in traffic patterns, as well as macro-economic factors and potential new growth opportunities that may impact FCF results each year. Should Management achieve these outcomes and deliver growth in FCF in line with the target range, the Board considers the outcomes for Management and security holders would be strongly aligned.
FCF Performance TSR Performance
Base 62.0 cents/Target 3.5–5% Compared to select ASX150
FY25 Plan 2,4
Base 58.0 cents/Target 3–5% Compared to select ASX150
FY24 Plan 2,3
Base 38.3 cents/Target 14–18% Compared to select ASX150
FY23 Plan 2
Compared to select ASX150
FY22 Plan 1
Vested 0% FY21 Plan 1
1 July 2020
1 July 2021
1 July 2022
1 July 2023
30 June 2024
30 June 2025
30 June 2026
30 June 2027
30 June 2028
Remuneration received in FY24 This table sets out the actual remuneration realised by Executive KMP during FY24. This is a voluntary disclosure and is not prepared in accordance with Australian Accounting Standards. The value Executive KMP actually receive depends on Transurban’s security price and whether the equity vests. The statutory remuneration tables (prepared in accordance with the Australian Accounting Standards) can be found on pages 107–109.
Value of deferred STI vested during the year 5
Total Actual Remuneration received during the year
Value of LTI vested during the year 5
Value of Forfeited / Lapsed LTI during year 5,6
TEC
Cash STI
Total Cash
Current Executive KMP M Jablko 7
1,835,417 1,104,243
773,850 319,500
2,609,267 1,423,743
110,079 240,416
0 0
2,719,346 1,664,159
0
H Byrne N Green 8
579,131
83,333
23,700
107,033
0
NA
107,033
0
S Moorfield
983,000 1,170,076
351,800 418,750
1,334,800 1,588,826
184,652 226,525
0 0
1,519,452 1,815,351
678,978 878,687
H Wehby
Former Executive KMP S Charlton 9
701,951 820,366 820,366
648,733 201,150
1,350,684 1,021,516
1,264,845
0 0 0
2,615,529 1,288,648 1,088,605
3,375,916
M Huey 10
267,132 268,239
579,131 581,531
S Johnson 10
0
820,366
1 S ingle performance measure of Relative TSR for the FY21 and FY22 plans. FY22 LTI plan consisted of two tranches. Tranche 1 (50% of awards granted) has a three-year performance period (1 July 2021 to 30 June 2024) and Tranche 2 (50% of awards granted) has a four-year performance period (1 July 2021 to 30 June 2025) 2 F CF Target: compound annual growth rate range 3 T he CAGR in FCF per security will be calculated using the FY23 distribution as the base which includes Capital Releases 4 T he CAGR in FCF per security will be calculated using the FY24 distribution as the base which includes Capital and Cash Reserve Releases 5 T he point in time value of securities based on the security price at the date of vesting/lapse multiplied by the number of securities 6 T he forfeited / lapsed LTI values relate to 0% of the performance awards which lapsed in August 2023 due to the performance hurdles not being met 7 M Jablko did not have any LTI vest in FY24
8 T he actual remuneration for N Green is for the period she was an Executive KMP and did not have any STI or LTI vest while a KMP 9 T he actual remuneration for Scott Charlton is for the period 1 July – 19 October 2023, being the period he was Executive KMP 10 T he actual remuneration for M Huey and S Johnson is for the period they were Executive KMP
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