Diversity, equity and inclusion

RFM, as the Responsible Entity, has a Diversity, Equity and Inclusion Policy, approved annually by the Board, that recognises that employees are one of its greatest assets. RFM has employees with a range of skills and capabilities to ensure the organisation’s ongoing strength, continuity and stability. The Policy provides a framework that actively manages and encourages diversity and inclusion.

RFM set a quantitative gender diversity objective for 40% of directors to be female by 31 December 2026. RFM will endeavour to improve the current level of gender diversity of the Board and management when vacancies arise; the small size of RFM’s management team means there is limited personnel turnover at this level.

As at 30 June 2025, RFM’s leadership team includes two females, representing 25% of the team. Our technical, operations and corporate management teams include three female managers, representing 20% of the team. Of the 258 people employed by RFM and its associated entities, 33% are female.

RFM applies a merit-based approach to recruitment, with positions filled by the most suitable candidate. While internal mobility is supported ‒ typically through employee-initiated requests ‒ it accounts for a smaller proportion of overall appointments. The management team has an average tenure of 12 years, which supports continuity of leadership. RFM has a staff retention rate of 78% (FY25).

Employee performance is managed through both regular informal feedback and an annual formal review process. Informal discussions ‒ such as check-ins and real-time feedback ‒ focus on day-to-day performance, professional conduct and competency development. The formal annual review assesses progress toward goals, sets objectives for the year ahead, and identifies opportunities for skills development, training and career planning. This approach supports continuous employee development while maintaining a clear and consistent performance framework.

RFM respects employees’ rights to collective representation and bargaining. Employment conditions are maintained through individual agreements and applicable modern awards. No collective bargaining agreements currently govern employment terms.