Announcement PDF Atomo Diagnostics Limited Appendix 4E Preliminary final report 1. Company details Name of entity: ABN: Reporting period: Previous period: Atomo Diagnostics Limited 37 142 925 684 For the period ended 30 June 2025 For the period ended 30 June 2024 2. Results for announcement to the market AUD Revenue from ordinary activities down 7% to 3,792,359 Loss from ordinary activities after tax attributable to the owners of Atomo Diagnostics Limited down 27% to 4,970,934 Loss from the period attributable to the owners of Atomo Diagnostics Limited down 28% to 4,895,468 Basic earnings per share Diluted earnings per share 30 June 2025 AUD Cents 30 June 2024 AUD Cents (0.768) (0.768) (1.079) (1.079) Dividends There were no dividends paid, recommended or declared during the current financial period. Comments The loss for the group after providing for income tax amounted to AUD4,970,934 (30 June 2024: AUD6,847,803). Refer to the 'Operating and Financial Review' within the Directors' Report for further commentary on the full-year's results, financial position and likely developments in future years. 3. Net tangible assets Consolidated 30 June 30 June 2025 2024 Net tangible asset per ordinary security 0.72 1.25 The net tangible assets per ordinary security is calculated based on 739,115,183 ordinary shares on issue as at 30 June 2025, and 639,202,310 ordinary shares that were on issue as at 30 June 2024. 4. Loss of control over entities Not applicable. 5. Details of associates and joint venture entities Not applicable. 6. Audit qualification or review The financial statements have been audited and an unmodified opinion has been issued. Atomo Diagnostics Limited Appendix 4E Preliminary final report 7. Attachments The Annual Report of Atomo Diagnostics Limited for the period ended 30 June 2025 is attached. 8. Annual General Meeting Atomo Diagnostics advises that its Annual General Meeting will be held on or about 31 October 2025. The time and other details relating to the Meeting will be advised in the Notice of Meeting to be sent to all shareholders and released to ASX immediately after dispatch. In accordance with the ASX Listing Rules, valid nominations for the position of director are required to be lodged at the registered office of the Company by 5.00pm (AEDT) on 12 September 2025. 9. Signed Signed ___________________________ John Kelly Interim Chair, CEO Sydney Date: 28 August 2025 Atomo Diagnostics Limited ABN 37 142 925 684 Annual Report - 30 June 2025 Atomo Diagnostics Limited Corporate directory For the period ended 30 June 2025 Directors John Kelly (Managing Director, CEO & Interim Chair) Cheri Walker (Non- Executive Director) Patrick Cook (Non-Executive Director) Anthony May (Non-Executive Director) Company secretary Mathew Watkins Registered office Level 1 3 - 5 George Street Leichhardt NSW 2040 Tel: +61 2 9099 4750 Principal place of business Level 1 3 - 5 George Street Leichhardt NSW 2040 Tel: +61 2 9099 4750 Share register Boardroom Pty Limited Level 8 210 George Street Sydney NSW 2000 Auditor BDO Audit Pty Ltd Level 25, 252 Pitt Street Sydney NSW 2000 Solicitors HWL Ebsworth Lawyers Level 14, Australia Square 264 - 178 George Street Sydney NSW 2000 Stock exchange listing Atomo Diagnostics Limited shares are listed on the Australian Securities Exchange (ASX code: AT1) Website www.atomodiagnostics.com Corporate Governance Statement www.atomodiagnostics.com/governance 1 Atomo Diagnostics Limited Directors' report For the period ended 30 June 2025 Principal activities The principal activities Atomo Diagnostics Limited ("Atomo" or "group") during the course of the year were the development and sale of medical devices. There were no significant changes in the nature of the activities of the group during the year. Review of operations The loss for the group after providing for income tax amounted to AUD4,970,934 (30 June 2024: AUD6,847,803). For the year ended, Atomo recorded revenues of $3,792k, largely comprising of POC Test sales for HIV of $2,350k, POC technology sales of $695k and $748k from development fees and other revenue. Despite a 7% decrease on prior period revenue recorded, quality of margin improved significantly from 39% to 51% largely driven by continued growing momentum of Atomo products and technology revenues being generated in High Income Countries (HIC). During the period, Atomo was awarded a CRC-P government grant for the development of a novel Active Syphilis Test. During the period, $1,455k of funding was received of which Atomo recognised $387k grant income for Syphilis development activities undertaken to date. Ongoing measures throughout the period relating to operating expense management, has resulted in continued reduction in overhead expenditure for the group. Overall operating expense (excluding one-off impairment of assets in PY) reduced over $300k Year-On-Year (YoY), equivalent to a 4% reduction, maintaining lean operations in the period and reflecting a concerted effort over the last three years to reduce costs across the business. Atomo successfully raised $1,831k as at 30 June 2025 and a further $1,295k post year end, bringing total capital raise to $3,126k excluding transaction costs, comprising of placement to institutional and sophisticated investors and a Share Purchase Plan to eligible shareholders, at $0.0185 per share plus one option valued at strike price $0.04 (with a 3-year expiry date from option issued date). Capital raised will focus on expanding Atomo's portfolio of products and technology platforms and investing prudently in areas of the business to support market facing commercial activities. Atomo has seen a significant step up in Australian HIV Test revenues during the period reflecting the Government's adoption of Self-Testing as an integral part of Australia’s management of HIV. Atomo's strategic partner Lumos Diagnostics Limited (ASX: LDX), recently secured a 6-year exclusive US distribution agreement for their FebriDx Test with PHASE Scientific. FebriDx is delivered to the end user in Atomo's patented Pascal cassette, and the US regulatory approvals depend on Pascal for its performance making Atomo a critical supplier to Lumos for this contract, which is valued at up to US$316m in FebriDx revenues over the 6 year term, assuming CLIA waiver is granted and Lumos's contract MoQ's is achieved. As a result, Atomo anticipates a significant increase in demand for its Pascal cassette from Lumos in the coming years and has already received the first substantial order from Lumos worth US$410k following the signing of the agreement with PHASE Scientific. Cash and cash equivalents at 30 June 2025 amounted to $3,220k compared to $3,688k as at 30 June 2024. Significant changes in the state of affairs ● On 5 May 2025 Atomo completed a Placement of Tranche 1 (T1) to institutional and sophisticated investors at $0.0185 per share plus the issuance of 1 option at a strike price $0.04 (with a 3-year expiry date from option issue date). T1 shares of 46,929,731 were effectively allocated to shareholders on 5 May 2025, raising $868k from T1. ● On 27 June 2025 Atomo completed a Placement of Tranche 2 (T2) to institutional and sophisticated investors and a Share Purchase Plan (SPP) for eligible shareholders at $0.0185 per share plus the issuance of 1 option at a strike price $0.04 (with a 3-year expiry date from option issue date). T2 & SPP shares of 50,983,142 were effectively allocated to shareholders on 27 June 2025, raising $691k from T2 placement and $272k from SPP. ● On 3 July 2025 remaining T2 placement of 31,729,730 shares were issued to shareholders, amounting to $567k, with the same terms noted above. ● As per Extraordinary General Meeting (EGM) held on 26 June 2025, Atomo is able to place the shortfall from the SPP upto $728k with the same terms to new or current investors up to 15 September 2025 at $0.0185 per share plus the issuance of 1 option at a strike price of $0.04 (with a 3-year expiry date from option issue date). On 24 July 2025, Atomo completed placement of SPP shortfall for $311k, issuing 16,810,814 shares. Remaining SPP shortfall was placed on 14 August 2025, for the amount of $416k, issuing 22,519,555 shares to shareholders. ● From recent capital raising activities (from 5 May 2025 to date), Atomo raised $3,126k amount excluding transaction costs. ● On 30 June 2025, 2,000,000 shares were issued for research services received during the year. There were no other significant changes in the state of affairs of the group during the financial period. 2 Atomo Diagnostics Limited Directors' report For the period ended 30 June 2025 Matters subsequent to the end of the financial period ● As stated in significant changes in state of affairs, Atomo completed a share capital raise through Placement to institutional and sophisticated investors and Share Placement Plan (SPP) to eligible shareholders. As at 30 June 2025, $1,831k was raised at $0.0185 per share plus the issuance of 1 option at a strike price $0.04 (with a 3-year expiry date from option issue date). ● Post year end Atomo completed the capital raise, on 3 July 2025 remaining placement of 31,729,730 shares were issued to shareholders, amounting to $567k, with the same terms noted above. ● As per Extraordinary General Meeting (EGM) held on 26 June 2025, Atomo also able to place the remaining shortfall from the SPP upto $728k with the same terms to new or current investors up to 15 September 2025 at $0.0185 per share plus the issuance of 1 option at a strike price of $0.04 (with a 3-year expiry date from option issue date). ● On 24 July 2025, Atomo completed placement of SPP shortfall for $311k, issuing 16,810,814 shares. Remaining SPP shortfall was placed on 14 August 2025, for the amount of $416k, issuing 22,519,555 shares to shareholders. No other matter or circumstance has arisen since 30 June 2025 that has significantly affected, or may significantly affect the group's operations, the results of those operations, or the group's state of affairs in future financial years. Likely developments and expected results of operations With approximately $3,220k of cash at bank and no debt, Atomo continues to pursue its key priorities while remaining focused on conserving capital over the medium term. ● Continued rollout and growing momentum of HIV Self-Testing sales globally in developed markets throughout Europe, Australia and New Zealand, improving quality of revenue margins. ● Focus on the expansion of Atomo's Point-of-Care (POC) cassette supply business, especially in the US market where the pending CLIA-Waiver for FebriDx Lumos Diagnostics for their test locks in significant contracted volumes for supply of FebriDx to PHASE. Pascal to a pathway for Atomo product and for new Diagnostics partners seeking improved userfriendly solution for POC and self-test markets. ● Growing the emerging development services business where Atomo is being paid to develop products and custom solutions for partners seeking access to Atomo technology and products. Business risk The group has identified the following material business risks that may cause its revenue and profitability to decline and are important to key stakeholders such as investors, consumers, customers, supplier, governments and employees. ● ● ● ● ● ● ● ● ● Regulatory risk: The group sells medical devices and finished products that require regulatory approvals to be maintained (for existing approved products), and to be obtained (for new products) in multiple jurisdictions. This includes obtaining and maintaining product approvals from the TGA in Australia, the FDA in the US, Health Canada in Canada, comparable bodies in Asia and South America, the World Health Organisation for LMIC global health markets, and compliance with the IVDD and IVDR regimes in Europe. There are risks associated with these regulatory approvals that may impact on the business should approvals be withdrawn for existing products or not obtained for new products. Product quality and safety: Should quality or safety issues arise with Atomo's products, there is the potential for negative financial and or reputational impacts. To mitigate this risk Atomo sources materials from quality suppliers, complies with ISO 13485 Medical Devices Quality Management, and delivers safe products to customers. Atomo aims to adhere to or exceed strict regulatory standards in all jurisdictions that it serves, and investigates all concerns to ensure our products maintain the highest quality. We are frequently inspected by independent regulatory authorities auditing compliance with these standards. Compliance: Responsibility to drive compliance with legal and regulatory requirements applicable to our global business. Includes development of policies and controls, communication and training, oversight and continuous improvement. Consequently, compliance affects every aspect of what we do, to deliver quality products to consumers. Supply chain: Responsibility to partners to ensure our product line is free from human rights concerns such as forced labour and trafficking, unsafe labour standards and unfair treatment. Atomo relies on third party manufacturers in certain areas and as such has potential exposure to supply chain disruption risks. The company takes steps to stay closely engaged with its supply chain and ensures sufficient stock on hand to mitigate this risk. Employees and skilled labour: Atomo's business relies on key qualified personnel. Ensuring our employees are appropriately remunerated and work in a safe environment, which meets or exceeds relevant regulatory expectations, addresses health and safety concerns as they arise and mitigates the risk of reoccurrence of incidents. Operational risk: Atomo has international operations, including a manufacturing facility in South Africa and as such is potentially exposed to additional from political, legal, economic and regulatory risk specific to those locations. Atomo operates in a competitive industry: Strategies and initiatives designed to provide diagnostics at competitive prices to ensure it can develop, manufacture and market high-quality generic and branded products, with a particular focus on accessible diagnostics for the global health and Lower and Middle Income markets. Corruption and bribery: Business must be conducted with transparency, and free from unethical persuasion. Ethical business practices relate to every aspect of Atomo's business, from identifying product sources, through the development of diagnostics, transactions with regulatory bodies and sale to customers. Resource use and waste management: Includes energy usage during manufacture and logistics, water usage and waste as a by-product of manufacture, with particular consideration given to the fact that the products are classified as medical waste upon use. 3 Atomo Diagnostics Limited Directors' report For the period ended 30 June 2025 ● Climate risk: The board is considering on an ongoing basis the potential response to climate risk and considering potential implementation of a formal review and policy response in future years. The Board believes that the group has adequate systems in place for the management of its exposure to business risk. The group's operations are not subject to any significant environmental regulation under Australian Commonwealth or State law. Information on directors Name: Title: Experience and expertise: John Kelly Interim Chair (Appointed 2 May 2025), Managing Director and CEO John Kelly is the Managing Director and CEO of Atomo. During the period John Kelly was appointed as Interim Chair of Atomo. For 25 years Mr Kelly has focused on developing and commercialising innovative healthcare products that enhance usability and performance, having started with CR Bard in Europe developing Class III implantable cardiology products. Prior to co-founding Atomo in 2010, Mr Kelly acted as the Chief Operating Officer (COO) of Unilife Corporation, which was previously an ASX-listed company (ASX:UNS) and subsequent to his departure, a Nasdaq listed company (NASDAQ:UNIS). At Unilife Corporation, he led the global operations team from 2005 to 2008, developing ‘Unifill’, the world’s first glass prefilled drug delivery device with integrated auto retract safety feature, and this technology was successfully licensed to Sanofi Aventis. Prior to joining Unilife in 2005, Mr Kelly spent five years at ResMed where he led the New Product Implementation Group and managed the development of the ground-breaking Mirage Swift and Activa mask systems. Mr Kelly holds an Honours degree in Mechanical Engineering from the University of Liverpool, a Master’s degree in Manufacturing Systems Engineering from Queen’s University Belfast, and an Executive MBA from the University of Sydney, where he was awarded the Business School’s inaugural ‘Excellence in Leadership’ scholarship. Other current directorships: Non-Executive Director - Tetratherix Limited Former directorships (last 3 years): Nil Special responsibilities: Nil Interests in shares: 74,111,870 Interests in options: 1,621,622 Contractual rights to shares: Nil Name: Title: Experience and expertise: Cheri Walker Non-Executive Director Dr. Walker is an executive with more than twenty-five years of experience working with life science and diagnostic companies. Dr. Walker is currently the Chief Executive Officer of Zeta Corporation. She has previously held senior executive positions at Abcam; Charles River Labs; Qiagen, and Life Technologies, now part of ThermoFisher. Dr. Walker holds a BA in Biology from Swarthmore College and a Ph.D. in Human and Molecular Genetics from Baylor College. Other current directorships: Nil Former directorships (last 3 years): Director CellIDx, Director BrickBio, Director of Rhinostics Special responsibilities: Chair of the Audit and Risk Committee Interests in shares: Nil Interests in options: Nil Contractual rights to shares: Nil 4 Atomo Diagnostics Limited Directors' report For the period ended 30 June 2025 Name: Title: Experience and expertise: Patrick Cook Non-Executive Director (Appointed 2 May 2025) An experienced Non-Executive Director and Chair with over 35 years experience as a senior executive in medical devices & point-of-care diagnostics sectors within various multinational, private and listed biotechnology companies. Previously served as Non-Executive Director at Workplace Drug Testing Australasia Ltd, Non-Executive Director & Chair at eWaste Connection Ltd, Board Member at Prostate Cancer Foundation of Australia (Qld), a Fellow of the Australian Institute of Company Directors and holds degrees in Science and Marketing. Other current directorships: Nil Former directorships (last 3 years): Non-Executive Director & Chair at Workplace Drug Testing Australasia Ltd Non-Executive Director & Chair at eWaste Connection Ltd Special responsibilities: Member of Audit and Risk Committee Interests in shares: 717,909 Interests in options: 540,541 Contractual rights to shares: Nil Name: Title: Experience and expertise: Anthony May Non-Executive Director (Appointed 2 May 2025) Mr May has held various Director roles across international corporations including Hoechst Germany, Microgenics Corporation USA, Fisher Scientific and Thermo Fisher Scientific. With extensive experience across public and private pathology laboratories, as well as sales and management roles in the IVD supply sector, he has built a strong track record in business leadership and strategic growth. Mr May is a member of the Australasian Association for Clinical Biochemistry and Laboratory Medicine and holds a bachelor’s degree in science. Other current directorships: Nil Former directorships (last 3 years): Nil Special responsibilities: Member of Audit and Risk Committee Interests in shares: 540,541 Interests in options: 540,541 Contractual rights to shares: Nil Name: Title: Experience and expertise: John Keith Non-Executive Chair (Resigned 2 May 2025) John Keith has served as a Non-Executive Director of Atomo since December 2011 and became Chair in 2014. Mr Keith is one of the Managing Directors at BNP Paribas, establishing and leading its financial institutions coverage team. Prior to joining BNP Paribas in 2011, Mr Keith held country management and senior business and coverage positions for Nomura Securities in Sydney and Hong Kong. His career comprises working with supranational, sovereign and institutional clients across all areas of investment and institutional banking. Mr Keith holds a Bachelor of Arts (Hons) majoring in Economic History from the Victoria University of Wellington, a Master of Applied Finance from Macquarie University and a Global Executive MBA from the University of Sydney. Other current directorships: Nil Former directorships (last 3 years): Nil Special responsibilities: Nil Interests in shares: Nil Interests in options: Nil Contractual rights to shares: Nil 5 Atomo Diagnostics Limited Directors' report For the period ended 30 June 2025 Name: Title: Experience and expertise: Paul Kasian Non-Executive Director (Resigned 2 May 2025) Dr Kasian is an experienced executive director with demonstrated success in both domestic and international companies encompassing senior leadership, strategy, investment and risk roles. His other roles have included Chief Investment Officer and Head of Global Financials at HSBC Asset Management, Founding Director of Accordius and Founding Director of Wallara Asset Management. He holds a PhD in Microbiology and a Master of Business Administration, both from the University of Melbourne, and is a Graduate Member of the Australian Institute of Company Directors. Other current directorships: Dr Kasian is currently Non-Executive Director (appointed 31 August 2016) and Chair (appointed 15 September 2018) of IODM Limited (ASX: IOD). He was appointed a Non Executive Chairman of Diamond Key International on 7 December 2022. He is also Non Executive Chairman of Sedarex (appointed July 2023). Former directorships (last 3 years): Non-Executive Director of Eco Systems Ltd Special responsibilities: Nil Interests in shares: Nil Interests in options: Nil Contractual rights to shares: Nil Name: Title: Experience and expertise: Deborah Neff Non-Executive Director (Resigned 2 May 2025) A veteran of the life sciences industry, Deborah has spent most of her career building market-leading global businesses. As principal of DJN Consulting, LLC based in the San Francisco Bay Area, Deborah currently works with several privately held healthcare start-up companies providing strategic business advice and mentoring to the executive management teams. Previously was CEO of Evanostics, LLC, Pathwork Diagnostics Inc, and COO at Complete Genomics following a 15 year career with Becton Dickinson, where she last served as President of BD Biosciences, a major global business unit of the company. She is an executive Trustee and Chair of the Foundation Board at the University of California, Davis. She serves as an independent Director and member of the Governance committee for Guide Dogs for the Blind, Inc. a non-profit organisation. Deborah holds a Bachelor in Science degree from the University of California, Davis. Non-Executive Director and member of the Audit and nominating/ governance Committee at Cytek Biosciences, Inc. Former directorships (last 3 years): Nil Special responsibilities: Nil Interests in shares: Nil Interests in options: Nil Contractual rights to shares: Nil Other current directorships: 'Other current directorships' quoted above are current directorships for listed entities only and excludes directorships of all other types of entities, unless otherwise stated. Company Secretary Mr Watkins is a highly qualified company secretary and member of global financial and corporate services provider, Vistra (Australia) Pty Ltd. He has more than a decade of experience, specialising in the provision of services to ASX-listed and unlisted public companies operating in the mining, biotechnology, and industrial sectors. Mr Watkins is also a member of the Institute of Chartered Accountants of Australia and New Zealand and possesses a Bachelor of Business from Swinburne University of Technology. Mr Watkins was appointed as Atomo’s Company Secretary on 9 June 2024. 6 Atomo Diagnostics Limited Directors' report For the period ended 30 June 2025 Meetings of directors The number of meetings of the company's Board of Directors ('the Board') and of each Board committee held during the period ended 30 June 2025, and the number of meetings attended by each director were: People, Culture, Nomination and Remuneration Committee Audit and Risk Committee Attended Held1 Attended Held1 Full Board Attended Held1 Cheri Walker Patrick Cook2 Anthony May2 John Kelly John Keith3 Paul Kasian3 Deborah Neff3 9 2 2 10 8 8 8 10 2 2 10 8 8 8 3 3 3 3 3 3 2 3 3 3 3 3 3 3 Represents the number of meetings when the director was eligible to attend as a member of the relevant committee. Appointed on 2 May 2025 3 Resigned on 2 May 2025 1 2 Remuneration report (audited) The remuneration report details the key management personnel remuneration arrangements for the group, in accordance with the requirements of the Corporations Act 2001 and its Regulations. Key management personnel are those persons having authority and responsibility for planning, directing and controlling the activities of the entity, directly or indirectly, including all directors. The key management personnel of the group during the financial year consisted of the following Directors of the Company: ● John Kelly – Managing Director and CEO & appointed Interim Chair on 23 May 2025 ● Cheri Walker – Non-Executive Director ● Patrick Cook - Non-Executive Director (Appointed on 2 May 2025) ● Anthony May – Non-Executive Director (Appointed on 2 May 2025) ● John Keith – Non-Executive Chair (Resigned on 2 May 2025) ● Paul Kasian – Non-Executive Director (Resigned on 2 May 2025) ● Deborah Neff – Non-Executive Director (Resigned on 2 May 2025) And the following executives: ● Chandra Sukumar – Chief Operating Officer The remuneration report is set out under the following main headings: ● Remuneration Governance ● Principles used to determine the nature and amount of remuneration ● Details of remuneration ● Service agreements ● Share-based compensation ● Additional disclosures relating to key management personnel ● Statutory performance indicators Remuneration Governance To assist the Board in fulfilling its responsibilities in respect of remuneration and nomination related matters, the Board established a People, Culture, Nomination and Remuneration Committee to monitor and make recommendations to the Board in relation to: 7 Atomo Diagnostics Limited Directors' report For the period ended 30 June 2025 (i) recruitment, retention and termination policies and practices for Executive Directors and direct reports to the Managing Director and the alignment of the policies and practices with the promotion and sustainment of a culture aligned with Atomo's values, the promotion of long term sustainable success and the achievement of the company's business objectives; (ii) people strategies and practices which will instil and reinforce the Company’s purpose and values, ensure health and wellbeing (physical and mental) and support the achievement of the company's long term business objectives; (iii) the development of, and progress in meeting, the Company’s diversity objectives; and (iv) the Company’s performance appraisal processes for the Managing Director and the Managing Director’s direct reports, the Board, Board Committees and individual Non-Executive Directors. At the date of this report, the People, Culture, Nomination and Remuneration Committee (PCNRC) function is fulfilled by the Board following the Board restructure. The Audit Risk Committee (ARC), now being the only sub-committee of the Board The members of the ARC at the date of this report is as follows: ● Cheri Walker (Chair) ● Patrick Cook ● Anthony May The role and responsibilities, composition, structure and membership requirements of the PCNRC (currently fulfilled by the Board) are documented in the People, Culture, Nomination and Remuneration Committee Charter which is available on Atomo’s website at: https://atomodiagnostics.com/governance/. Principles used to determine the nature and amount of remuneration Non-executive directors remuneration Each of the Non-Executive Directors has entered into appointment letters with Atomo confirming the terms of their appointment and their roles and responsibilities. The appointment letters are on standard commercial terms. Directors may also be reimbursed for expenses properly incurred by them in dealing with the Company’s business or in carrying out their duties as a Director. Under the Constitution, the Board decides the amount paid to each Non-Executive Director as remuneration for their services as a Director. However, under the ASX Listing Rules, the total amount of fees paid to all Non-Executive Directors for their services must not exceed in aggregate in any financial year the amount fixed by the Company’s shareholders in general meeting. This amount has been fixed initially in the Company’s Constitution at $500,000 per annum in aggregate and may be varied by ordinary resolution in a general meeting. Executive remuneration The group aims to reward executives based on their position and responsibility, with a level and mix of remuneration which has both fixed and variable components. The executive remuneration and reward framework has four components: ● base pay ● short-term performance incentives ● share-based payments ● other remuneration such as superannuation and long service leave The combination of these comprises the executive's total remuneration. Fixed remuneration, consisting of base salary and superannuatio