Notes on methodology:

• Currency conversion rates: A$0.93 and US$0.68
• Previous year’s pay in foreign currency re-calculated with new conversion rates.
• Average pay and percentage changes calculated where data was available for both years.
• Some companies were excluded from calculations if the timing of appointments unduly affected results.
• Unless specifically declared,the top paid employee was assumed to be the chief executive.
• Situations where there is no specific declaration are marked with the comment “one employee earns”. Where earnings for an unspecified employee were declared in a band the upper limit was used.
• Remuneration data is based on obvious declared earnings including base, bonus, performance, relevant share options and pensions in the year they were paid.