Lendlease Annual Report 2022

88 Lendlease Annual Report 2022 Fixed Remuneration This section presents our approach to setting Fixed Remuneration. No remuneration increases were applied in FY22 to Executive KMP. Design How Fixed Remuneration Works Quantum • No remuneration increases were applied in FY22 to Executive KMP. Benchmarking Approach • Quantum and remuneration mix are benchmarked to test that total remuneration remains market competitive. • Annual review except in instance of role changes. • Considers the relative size, scale and complexity of roles to enable a fair comparison. • A target fixed and total remuneration position is established with reference to the market median and 75th percentile. • Aim to provide total remuneration towards the 75th percentile if outstanding performance is achieved. Primary Sources of Data • The People & Culture Committee typically uses a number of sources for benchmarking Global CEO and Executive remuneration including: • Publicly available data for similar roles in companies of a similar size, such as: • Revenue Group: ASX listed companies with revenue of between 50 and 200 per cent of Lendlease’s revenue • Market Capitalisation Group: ASX listed companies that are ranked between 26 and 75 by market capitalisation (excluding companies domiciled outside Australia) • Publicly available data for comparable roles at: • Property organisations in Australia such as Charter Hall Group, Dexus, Goodman Group, GPT Group, Mirvac Group, Scentre Group, Stockland and Vicinity Centres • Companies where we compete for talent, such as Macquarie Group Limited and AMP Limited. • Published remuneration surveys, remuneration trends and other data sourced from external providers. Supplementary Peer Group • To supplement the above information, we also consider the following three companies as comparators for Lendlease: Brambles Limited, British Land Company PLC and CapitaLand Limited. These companies were identified as part of a review that was undertaken during FY21 to determine which companies align with Lendlease based on quantitative comparisons against key metrics such as profit, market capitalisation and scale of operations as well as a qualitative overlay that considered the scope of business lines, employee base and operating environment.