4 STATUTORY REMUNERATION DISCLOSURES FOR 2020/21 The statutory remuneration disclosures for the year ended 30 June 2021 are detailed below. These are prepared in accordance with Australian Accounting Standards and differ from the 2020/21 remuneration outcomes on page 46. The differences arise due to the accounting treatment of share-based payments for the STIP and LTIP. The statutory disclosures include an accounting remuneration value for: Prior years' STIP awards Accounting standards require STIP remuneration to be expensed (and therefore included as statutory remuneration) in financial years which differ from the year of Scorecard performance. Despite no awards being made under either the 2019/20 or the 2020/21 STIP, a value for STIP awards is still required to be included in the statutory remuneration table. This is due to the fact that deferred shares granted under the 2018/19 STIP have a future service period, during which the recipient must remain employed by the Group for the awards to vest. Therefore, the 2019/20 and 2020/21 statutory remuneration disclosures include a value for part of those prior year STIP awards. -LTIP awards that have not vested Accounting standards require LTIP remuneration to be expensed (and therefore included as statutory remuneration) notwithstanding that some of the Rights have not met the performance hurdles and have lapsed. The performance measures for the 2019-2021 LTIP, being Qantas' TSR relative to companies with ordinary shares included in the ASX100 and an airline peer group (Global Listed Airlines), were tested as at 30 June 2021. Qantas' three-year relative TSR performance was ranked 4th in the airline peer group and 70th in the ASX100. Based on this performance, 50 per cent vesting was achieved. Notwithstanding that the LTIP conditions were partially achieved, the CEO offered, and the Board agreed, to defer the decision until at least August 2022 as to whether his Rights will be forfeited or allowed to convert to shares. For Executive Management, 50 per cent of Rights awarded under the 2019-2021 LTIP vested and converted to shares, with the remaining Rights lapsing. Notwithstanding that 50 per cent of Rights lapsed, the Statutory Remuneration recognises an expense for 100 per cent of Rights under the 2019-2021 LTIP. Additionally, LTIP awards that will be assessed for vesting in future years are expensed over the three-year testing period. Therefore, the statutory disclosures include an accounting value for part of the 2020-2022 and the 2021-2023 LTIP awards. Statutory Remuneration Table - CEO and Executive KMP Incentive Plan - Accounting Accrual Equity-Settled Share-Based Payments Other Benefits $'000s Base Pay (Cash) STIP Cash STIP Deferred Bonus' Shares LTIP Rights Sub- Total Post- Non-Cash Employment Benefits Benefits* Other Long-Term Sub- ation Benefits Total Benefit Termin- Total Current Executives Alan Joyce 2021 1,778 237 3,072 5,087 2 53 146 201 5,288 Chief Executive Officer 2020 1,606 603 2,411 4,620 28 53 57 138 4,758 Andrew David 2021 936 80 680 1,696 4 56 48 108 1,804 CEO Qantas Domestic and International 2020 749 192 583 1,524 54 50 (54) 50 1,574 Gareth Evans 2021 1,005 94 720 1,819 10 56 (2) 64 1,883 CEO Jetstar Group 2020 795 227 621 1,643 21 50 15 86 1,729 Vanessa Hudson 2021 875 59 520 1,454 4 138 40 182 1,636 Chief Financial Officer from 1 October 2019 2020 384 78 218 680 36 105 (1) 140 820 Olivia Wirth 2021 802 74 567 1,443 15 57 69 141 1,584 CEO Qantas Loyalty 2020 635 171 420 1,226 94 51 145 1371 Total 2021 5,396 544 5,559 11,499 35 360 301 696 12,195 2020 4,169 1,271 4,253 9,693 233 309 17 559 10,252 Former Executive Tino La Spina CEO International 2021 390 from 1 October 2019 2020 749 95 201 104 583 1,533 589 1 44 50 95 763 35 52 10 97 1,447 - 1,630 Chief Financial Officer to 30 September 2019