Directors’ Report 2. 2023 Key Management Personnel Remuneration Outcomes at a Glance Paul McKenzie • Received an increase to Fixed Reward (FR) of 3.5% at 1 September 2022 (for his COO role). On appointment to his role of CEO, an increase of 72% was applied effective 6 March 2023 • A short term incentive (STI) payment of US$1,376,890 – 51% of maximum opportunity (apportioned across the COO and CEO roles) • Long term incentive (LTI) vesting based on performance of US$1,634,350 (face value at vesting date) • ‘Realised’ remuneration in 2023 of US$4,351,551 (reflects performance across COO and CEO roles) Joy Linton • Received an increase to FR of 3.7% at 1 September 2022 (inclusive of the superannuation guarantee increase) • STI of US$946,395 was paid – 53% of maximum opportunity • LTI vesting based on performance of US$1,003,581 (face value at vesting date) • ‘Realised’ remuneration in 2023 of US$2,994,327 Paul Perreault • Received an increase to FR of 3.5% increase effective 1 September 2022 • STI of US$1,537,182 was paid – 50% of maximumopportunity (for the period of the year as Executive KMP) • LTI vesting based on performance of US$3,148,999 (face value at vesting date) • ‘Realised’ remuneration in 2023 of US$6,040,346 (for period of year as Executive KMP) NEDs • An increase of 3% was applied to all Board and Committee fees effective 1 July 2022 (within the existing fee cap) 2 Includes base salary, retirement/superannuation benefits, and other benefits such as insurances, relocation and allowances paid in 2023. 3 Relates to STI earned in 2023 and will be paid in September 2023 (refer to section 5.3). 4 V alue of LTI vested at 1 September 2022 and 1 March 2023 that became unrestricted (refer to section 5.4). The value at vest has been determined by multiplying the number of vested units by the closing share price on the date of vest. This has been converted to US$ at an average exchange rate for the 2023 financial year of 1.48733. The awards for J Linton were commencement benefits earned in 2021 given Ms Linton commenced employment with CSL in 2021. 5 T he value at grant has been determined by multiplying the number of vested units by the closing share price on the date of grant. This has been converted to US$ at an average exchange rate for the 2023 financial year of 1.48733. 6 T his figure shows the increase in market value of the LTI awards due to share price growth between the grant date and the vesting date. The increase in value of the awards is calculated by multiplying the number of vested and/or exercised awards by the difference between the share price of CSL shares on the grant date and the vesting date or exercise date (as applicable). This has been converted to US$ at an average exchange rate for the 2023 financial year of 1.48733. 7 The ‘realised’ remuneration for P Perreault is for the period 1 July 2022 to 5 March 2023 being the period P Perreault was Executive KMP. 2.1 2023 Executive KMP Realised Remuneration The table below discloses the ‘realised’ remuneration for the year ended 30 June 2023 in US Dollars (US$). This is a voluntary disclosure which the Board believes presents a simple and transparent view of what the Executive KMP’s actual take-home pay was in 2023. These outcomes are aligned with the Executive KMP’s and CSL’s performance during 2023, as well as being aligned to CSL’s longer term performance. See section 6 Table 10 for the Statutory Remuneration disclosure that has been prepared in accordance with the Australian accounting standards. The details for Mr Perreault reflect his period as Executive KMP. Table 2: Executive KMP ‘Realised’ Remuneration (Received or Available as Cash) in 2023 Executive 2023 Total Fixed Received US$2 2023 STI US$3 LTI Vested in 2023 US$4 Total Reward Reward US$ Total LTI Reward Received (valued at grant date) US$5 LTI Growth in Value (due to share price growth) US$6 Period Earned 2023 2023 2019 – 2023 2019 – 2023 2019 – 2023 2019 – 2023 P McKenzie 1,340,311 1,376,890 1,634,350 4,351,551 1,446,967 187,383 J Linton 1,044,351 946,395 1,003,581 2,994,327 901,287 102,294 Former Executive KMP P Perreault7 1,354,165 1,537,182 3,148,999 6,040,346 2,806,440 342,559 CSL Limited Annual Report 2022/23 88
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