{ "entity_id": "O-000890", "folder": "Northern-Australia-Infrastructure-Facility", "name": "Northern Australia Infrastructure Facility", "type": "Corporate Commonwealth Entity", "jurisdiction": "Commonwealth", "portfolio": "Infrastructure, Transport, Regional Development, \r\nCommunications, Sport and the Arts", "website": "https://naif.gov.au/", "data_status": "rich", "completeness": { "has_strategy_brief": true, "has_strategy_structured": true, "has_vision": false, "has_kpi_targets": true, "has_kpi_results": true, "has_strategy_overview": true, "has_legislation_text": true, "has_legislation_structured": true, "has_global_initiatives_text": true, "has_ideas": true, "has_artifacts": true, "n_ideas": 8, "n_legislation": 1, "n_artifacts": 19, "n_kpi_targets": 3, "n_kpi_results": 3, "n_outcomes": 4, "verified_own_data": true }, "strategy_profile": { "status": "published", "confidence": "high", "summary": "We contribute to the Nation by proudly investing in the growth of northern Australia. [CP p.4]", "official_site_url": "https://naif.gov.au/", "source_documents": [ { "type": "annual_report", "title": "Download the NAIF Annual Report 2024-25", "url": "https://cdn.naif.gov.au/media/obldtcoq/naif-annualreport-2024-25-web.pdf", "period": "2024-25", "confidence": "high" }, { "type": "annual_report", "title": "NAIF Annual Report 2023-24", "url": "https://cdn.naif.gov.au/media/2iqd3brg/naif-annualreport-2023-24-digital.pdf", "period": "2023-24", "confidence": "high" }, { "type": "annual_report", "title": "NAIF Annual Report 2022-23", "url": "https://cdn.naif.gov.au/media/pt1bwvzu/naif_annualreport_2022_23.pdf", "period": "2022-23", "confidence": "high" }, { "type": "annual_report", "title": "NAIF Annual Report 2021-22", "url": "https://cdn.naif.gov.au/media/knkgq3gs/naif_annualreport_2021_22_final-web-single.pdf", "period": "2021-22", "confidence": "high" }, { "type": "annual_report", "title": "NAIF Annual Report 2020-21", "url": "https://cdn.naif.gov.au/media/ibjdhmyv/naif_annreport2021_1410-final.pdf", "period": "2020-21", "confidence": "high" }, { "type": "corporate_plan", "title": "View the NAIF Corporate Plan 2025-26", "url": "https://cdn.naif.gov.au/media/0sakbuzw/naif-corporate-plan-fy25-26-final.pdf", "period": "2025-26", "confidence": "high" }, { "type": "corporate_plan", "title": "Corporate Plan 2024-25", "url": "https://cdn.naif.gov.au/media/tcucgoss/fy24-25-corporate-plan.pdf", "period": "2024-25", "confidence": "high" }, { "type": "corporate_plan", "title": "Corporate Plan 2023-24", "url": "https://naif.gov.au/media/mx3cyh2d/naif-fy2022-23-corporate-plan-final-1.pdf", "period": "2022-23", "confidence": "high" }, { "type": "corporate_plan", "title": "Corporate Plan 2020-21", "url": "https://cdn.naif.gov.au/media/ksablmqu/corporate-plan-2020-2024-final-web.pdf", "period": "2020-21", "confidence": "high" }, { "type": "corporate_plan", "title": "Corporate Plan 2019-20", "url": "https://cdn.naif.gov.au/media/b3abpez2/corporate-plan-2019-20-final-web.pdf", "period": "2019-20", "confidence": "high" }, { "type": "strategie", "title": "Read our RAP (PDF)", "url": "https://naif.gov.au/media/y3hdadbt/naif-innovate-reconciliation-plan.pdf", "period": null, "confidence": "medium" } ], "purpose": { "text": "We contribute to the Nation by proudly investing in the growth of northern Australia. [CP p.4]", "source_url": "https://cdn.naif.gov.au/media/0sakbuzw/naif-corporate-plan-fy25-26-final.pdf", "source_page": 4, "source_deep_url": "https://cdn.naif.gov.au/media/0sakbuzw/naif-corporate-plan-fy25-26-final.pdf#page=4" }, "vision": null, "strategic_priorities": [ { "title": "Sustainable and resilient economic development and the alleviation of economic or social disadvantage in northern Austra", "description": "Sustainable and resilient economic development and the alleviation of economic or social disadvantage in northern Australia.", "source_url": "https://cdn.naif.gov.au/media/0sakbuzw/naif-corporate-plan-fy25-26-final.pdf", "source_page": 4, "source_deep_url": "https://cdn.naif.gov.au/media/0sakbuzw/naif-corporate-plan-fy25-26-final.pdf#page=4" }, { "title": "Working with jurisdictions to deliver key infrastructure projects in northern Australia.", "description": "Working with jurisdictions to deliver key infrastructure projects in northern Australia.", "source_url": "https://cdn.naif.gov.au/media/0sakbuzw/naif-corporate-plan-fy25-26-final.pdf", "source_page": 4, "source_deep_url": "https://cdn.naif.gov.au/media/0sakbuzw/naif-corporate-plan-fy25-26-final.pdf#page=4" }, { "title": "Realising the Critical Minerals Strategy 2023–2030, along with support for other Australian Government policies and prio", "description": "Realising the Critical Minerals Strategy 2023–2030, along with support for other Australian Government policies and priorities including Future Made in Australia and the Net Zero Economic Authority.", "source_url": "https://cdn.naif.gov.au/media/0sakbuzw/naif-corporate-plan-fy25-26-final.pdf", "source_page": 4, "source_deep_url": "https://cdn.naif.gov.au/media/0sakbuzw/naif-corporate-plan-fy25-26-final.pdf#page=4" }, { "title": "Materially improving the lives of Indigenous people and communities.", "description": "Materially improving the lives of Indigenous people and communities.", "source_url": "https://cdn.naif.gov.au/media/0sakbuzw/naif-corporate-plan-fy25-26-final.pdf", "source_page": 4, "source_deep_url": "https://cdn.naif.gov.au/media/0sakbuzw/naif-corporate-plan-fy25-26-final.pdf#page=4" } ], "values": [ { "name": "Collaboration", "description": "", "source_url": "https://cdn.naif.gov.au/media/0sakbuzw/naif-corporate-plan-fy25-26-final.pdf", "source_page": null }, { "name": "Solutions focused", "description": "", "source_url": "https://cdn.naif.gov.au/media/0sakbuzw/naif-corporate-plan-fy25-26-final.pdf", "source_page": null }, { "name": "Integrity", "description": "", "source_url": "https://cdn.naif.gov.au/media/0sakbuzw/naif-corporate-plan-fy25-26-final.pdf", "source_page": null }, { "name": "Making a difference", "description": "", "source_url": "https://cdn.naif.gov.au/media/0sakbuzw/naif-corporate-plan-fy25-26-final.pdf", "source_page": null } ], "outcomes": [ { "name": "Financing transformational opportunities in northern Australia", "description": "Offering innovative financing solutions that address the unique risk factors that projects in northern Australia are susceptible to, including distance, remoteness, climate and connectivity. Investing in projects that will create long term benefits to northern Australia, increase economic activity and accelerate participation in the development of new industry sectors, production processes and technologies. Supporting ancillary industries and businesses to support current and future key infrastructure developments.", "activities": [ "Offering innovative financing solutions", "Investing in projects", "Supporting ancillary industries" ], "source_url": "https://cdn.naif.gov.au/media/0sakbuzw/naif-corporate-plan-fy25-26-final.pdf", "source_page": [ 9, 10 ], "source_deep_url": "https://cdn.naif.gov.au/media/0sakbuzw/naif-corporate-plan-fy25-26-final.pdf#page=[9, 10]" }, { "name": "Facilitate economic and sustainable growth", "description": "Strengthening the Nation’s future economic prosperity through investments that support continued economic growth of northern Australia. Financing projects that bring new capacity online through the construction of new infrastructure or by materially enhancing existing infrastructure. Supporting projects that evidence broad based public benefit and generate benefits to the broader economy and community beyond those captured by a project proponent.", "activities": [ "Strengthening the Nation’s future economic prosperity", "Financing projects", "Supporting projects" ], "source_url": "https://cdn.naif.gov.au/media/0sakbuzw/naif-corporate-plan-fy25-26-final.pdf", "source_page": [ 9, 10 ], "source_deep_url": "https://cdn.naif.gov.au/media/0sakbuzw/naif-corporate-plan-fy25-26-final.pdf#page=[9, 10]" }, { "name": "Expand and promote Indigenous opportunities and outcomes", "description": "Expand and promote Indigenous opportunities and outcomes through bespoke Indigenous Engagement Strategies (IES) that are tailored for the Indigenous groups of the area or region of the proposed project.", "activities": [ "Developing bespoke Indigenous Engagement Strategies", "Tailoring strategies for Indigenous groups" ], "source_url": "https://cdn.naif.gov.au/media/0sakbuzw/naif-corporate-plan-fy25-26-final.pdf", "source_page": [ 5, 6 ], "source_deep_url": "https://cdn.naif.gov.au/media/0sakbuzw/naif-corporate-plan-fy25-26-final.pdf#page=[5, 6]" }, { "name": "Contributing to the Nation", "description": "Investing in projects across a breadth of sectors to facilitate the establishment or enhancement of business activity or increase economic activity in a region.", "activities": [ "Investing in projects", "Facilitating business activity" ], "source_url": "https://cdn.naif.gov.au/media/0sakbuzw/naif-corporate-plan-fy25-26-final.pdf", "source_page": [ 5, 6 ], "source_deep_url": "https://cdn.naif.gov.au/media/0sakbuzw/naif-corporate-plan-fy25-26-final.pdf#page=[5, 6]" } ], "performance_measures": [ { "code": "ID", "measure": "Dollar value of Investment Decisions", "target": ">$700m", "latest_result": "$340 million", "status": "Partially achieved", "target_source_url": "https://cdn.naif.gov.au/media/0sakbuzw/naif-corporate-plan-fy25-26-final.pdf", "target_source_page": 9, "result_source_url": "https://cdn.naif.gov.au/media/obldtcoq/naif-annualreport-2024-25-web.pdf", "result_source_page": 30 }, { "code": "CD", "measure": "Capital deployed (i.e. cumulative drawdowns)", "target": ">$3.0bn", "latest_result": "$2.6 billion", "status": "Achieved", "target_source_url": "https://cdn.naif.gov.au/media/0sakbuzw/naif-corporate-plan-fy25-26-final.pdf", "target_source_page": 9, "result_source_url": "https://cdn.naif.gov.au/media/obldtcoq/naif-annualreport-2024-25-web.pdf", "result_source_page": 30 }, { "code": "LR", "measure": "NAIF loan ratio (private sector contribution to NAIF finance)", "target": "<75%", "latest_result": "16%", "status": "Achieved", "target_source_url": "https://cdn.naif.gov.au/media/0sakbuzw/naif-corporate-plan-fy25-26-final.pdf", "target_source_page": 9, "result_source_url": "https://cdn.naif.gov.au/media/obldtcoq/naif-annualreport-2024-25-web.pdf", "result_source_page": 30 } ], "document_alignment_terms": { "must_support": [ "We contribute to the Nation by proudly investing in the growth of northern Australia. [CP p.4]", "Sustainable and resilient economic development and the alleviation of economic or social disadvantage in northern Australia.", "Working with jurisdictions to deliver key infrastructure projects in northern Australia.", "Realising the Critical Minerals Strategy 2023–2030, along with support for other Australian Government policies and priorities including Future Made in Australia and the Net Zero Economic Authority.", "Materially improving the lives of Indigenous people and communities." ], "watch_terms": [ "Dollar value of Investment Decisions", "Capital deployed (i.e. cumulative drawdowns)", "NAIF loan ratio (private sector contribution to NAIF finance)" ], "avoid_claiming_without_evidence": [] }, "review_note": "" }, "strategy_brief_md": "# Northern Australia Infrastructure Facility — Strategy Brief\n\n**Reporting period**: 2024-25\n**Corporate plan in force**: 2025-26\n**Annual Report**: [2024-25](https://cdn.naif.gov.au/media/obldtcoq/naif-annualreport-2024-25-web.pdf)\n**Corporate Plan**: [2025-26](https://cdn.naif.gov.au/media/0sakbuzw/naif-corporate-plan-fy25-26-final.pdf)\n\n## Our purpose / purposes\n\n> We contribute to the Nation by proudly investing in the growth of northern Australia. [CP p.4](https://cdn.naif.gov.au/media/0sakbuzw/naif-corporate-plan-fy25-26-final.pdf#page=4) [[CP p.4](https://cdn.naif.gov.au/media/0sakbuzw/naif-corporate-plan-fy25-26-final.pdf#page=4)(https://cdn.naif.gov.au/media/0sakbuzw/naif-corporate-plan-fy25-26-final.pdf#page=4)]\n\n## How we deliver\n\n> Investing for Impact\nNAIF’s purpose is to play a unique role in Australia’s finance industry, ensuring that strategically important infrastructure projects, which may otherwise have historically been outside of appetite for mainstream commercial lenders, are supported through private-public partnerships. [CP p.4](https://cdn.naif.gov.au/media/0sakbuzw/naif-corporate-plan-fy25-26-final.pdf#page=4) [[CP p.4](https://cdn.naif.gov.au/media/0sakbuzw/naif-corporate-plan-fy25-26-final.pdf#page=4)(https://cdn.naif.gov.au/media/0sakbuzw/naif-corporate-plan-fy25-26-final.pdf#page=4)]\n\n## Government priorities for this department\n\n- Sustainable and resilient economic development and the alleviation of economic or social disadvantage in northern Australia. [[CP p.4](https://cdn.naif.gov.au/media/0sakbuzw/naif-corporate-plan-fy25-26-final.pdf#page=4)(https://cdn.naif.gov.au/media/0sakbuzw/naif-corporate-plan-fy25-26-final.pdf#page=4)]\n- Working with jurisdictions to deliver key infrastructure projects in northern Australia. [[CP p.4](https://cdn.naif.gov.au/media/0sakbuzw/naif-corporate-plan-fy25-26-final.pdf#page=4)(https://cdn.naif.gov.au/media/0sakbuzw/naif-corporate-plan-fy25-26-final.pdf#page=4)]\n- Realising the Critical Minerals Strategy 2023–2030, along with support for other Australian Government policies and priorities including Future Made in Australia and the Net Zero Economic Authority. [[CP p.4](https://cdn.naif.gov.au/media/0sakbuzw/naif-corporate-plan-fy25-26-final.pdf#page=4)(https://cdn.naif.gov.au/media/0sakbuzw/naif-corporate-plan-fy25-26-final.pdf#page=4)]\n- Materially improving the lives of Indigenous people and communities. [[CP p.4](https://cdn.naif.gov.au/media/0sakbuzw/naif-corporate-plan-fy25-26-final.pdf#page=4)(https://cdn.naif.gov.au/media/0sakbuzw/naif-corporate-plan-fy25-26-final.pdf#page=4)]\n\n## Outcomes\n\n### Financing transformational opportunities in northern Australia\nOffering innovative financing solutions that address the unique risk factors that projects in northern Australia are susceptible to, including distance, remoteness, climate and connectivity. Investing in projects that will create long term benefits to northern Australia, increase economic activity and accelerate participation in the development of new industry sectors, production processes and technologies. Supporting ancillary industries and businesses to support current and future key infrastructure developments. [[CP p.[9, 10]](https://cdn.naif.gov.au/media/0sakbuzw/naif-corporate-plan-fy25-26-final.pdf#page=[9, 10])]\n\n**Key activities:**\n- Offering innovative financing solutions\n- Investing in projects\n- Supporting ancillary industries\n\n### Facilitate economic and sustainable growth\nStrengthening the Nation’s future economic prosperity through investments that support continued economic growth of northern Australia. Financing projects that bring new capacity online through the construction of new infrastructure or by materially enhancing existing infrastructure. Supporting projects that evidence broad based public benefit and generate benefits to the broader economy and community beyond those captured by a project proponent. [[CP p.[9, 10]](https://cdn.naif.gov.au/media/0sakbuzw/naif-corporate-plan-fy25-26-final.pdf#page=[9, 10])]\n\n**Key activities:**\n- Strengthening the Nation’s future economic prosperity\n- Financing projects\n- Supporting projects\n\n### Expand and promote Indigenous opportunities and outcomes\nExpand and promote Indigenous opportunities and outcomes through bespoke Indigenous Engagement Strategies (IES) that are tailored for the Indigenous groups of the area or region of the proposed project. [[CP p.[5, 6]](https://cdn.naif.gov.au/media/0sakbuzw/naif-corporate-plan-fy25-26-final.pdf#page=[5, 6])]\n\n**Key activities:**\n- Developing bespoke Indigenous Engagement Strategies\n- Tailoring strategies for Indigenous groups\n\n### Contributing to the Nation\nInvesting in projects across a breadth of sectors to facilitate the establishment or enhancement of business activity or increase economic activity in a region. [[CP p.[5, 6]](https://cdn.naif.gov.au/media/0sakbuzw/naif-corporate-plan-fy25-26-final.pdf#page=[5, 6])]\n\n**Key activities:**\n- Investing in projects\n- Facilitating business activity\n\n## Values and principles\n\n_NAIF’s core values_\n\n- Collaboration\n- Solutions focused\n- Integrity\n- Making a difference\n\n## What they will measure themselves on this year (targets from 2025-26 corporate plan)\n\n| Code | Measure | Target | Source |\n|---|---|---|---|\n| ID | Dollar value of Investment Decisions | >$700m | [CP p.9](https://cdn.naif.gov.au/media/0sakbuzw/naif-corporate-plan-fy25-26-final.pdf#page=9)(https://cdn.naif.gov.au/media/0sakbuzw/naif-corporate-plan-fy25-26-final.pdf#page=9) |\n| CD | Capital deployed (i.e. cumulative drawdowns) | >$3.0bn | [CP p.9](https://cdn.naif.gov.au/media/0sakbuzw/naif-corporate-plan-fy25-26-final.pdf#page=9)(https://cdn.naif.gov.au/media/0sakbuzw/naif-corporate-plan-fy25-26-final.pdf#page=9) |\n| LR | NAIF loan ratio (private sector contribution to NAIF finance) | <75% | [CP p.9](https://cdn.naif.gov.au/media/0sakbuzw/naif-corporate-plan-fy25-26-final.pdf#page=9)(https://cdn.naif.gov.au/media/0sakbuzw/naif-corporate-plan-fy25-26-final.pdf#page=9) |\n\n## How they performed last year (results from 2024-25 annual report)\n\n| Code | Measure | Result | Status | Source |\n|---|---|---|---|---|\n| ID | Dollar value of Investment Decisions | $340 million | Partially achieved | [AR p.30](https://cdn.naif.gov.au/media/obldtcoq/naif-annualreport-2024-25-web.pdf#page=30)(https://cdn.naif.gov.au/media/obldtcoq/naif-annualreport-2024-25-web.pdf#page=30) |\n| CD | Capital deployed (i.e. cumulative drawdowns) | $2.6 billion | Achieved | [AR p.30](https://cdn.naif.gov.au/media/obldtcoq/naif-annualreport-2024-25-web.pdf#page=30)(https://cdn.naif.gov.au/media/obldtcoq/naif-annualreport-2024-25-web.pdf#page=30) |\n| LR | NAIF loan ratio (private sector contribution to NAIF finance) | 16% | Achieved | [AR p.30](https://cdn.naif.gov.au/media/obldtcoq/naif-annualreport-2024-25-web.pdf#page=30)(https://cdn.naif.gov.au/media/obldtcoq/naif-annualreport-2024-25-web.pdf#page=30) |", "strategy_overview_evidence_md": null, "internal_strategy_evidence_md": "# Northern Australia Infrastructure Facility - Strategy, Performance, and Operating Profile\n\n**Generated at**: 2026-05-09T21:54:59.930291+00:00\n**Entity ID**: O-000890\n**Entity type**: Corporate Commonwealth Entity\n**Jurisdiction**: Commonwealth\n**Portfolio**: Infrastructure, Transport, Regional Development, \n\nCommunications, Sport and the Arts\n**Website**: https://naif.gov.au/\n\n> Draft generated from scraped source material. Treat this as an evidence pack for editorial review, not a final judgement.\n\n## Source Coverage\n\n| Source type | Count |\n|---|---:|\n| annual-reports | 5 |\n| corporate-plans | 5 |\n| global-intelligence | 3 |\n| other-pdfs | 5 |\n| pages | 24 |\n| reviews | 3 |\n| strategies | 1 |\n\n## Executive Readout\n\n### Purpose\n\n- In our opinion, based on material provided to the Board,\nOur purpose facilitates the achievement of outcomes\nthis Annual Performance Statement accurately reflects\nas outlined in the FY22-23 Department of Infrastructure,\nthe performance of the entity, and complies with\nTransport, Regional Development, Communications and\nsubsection 39(2) of the PGPA Act.\nthe Arts Portfolio Budget Statement (page 459) to ‘enable\neconomic growth in northern Australia, by facilitating\nprivate sector investment in economic infrastructure,\nprimarily through the provision of concessional financing\ndelivered through the State and Territory Governments.’\nTracey Hayes Results\nCHAIR OF THE NAIF BOARD A summary of NAIF’s performance outcomes is included\nin figure 1.\n Source: `annual-reports/2022-23.pdf (https://cdn.naif.gov.au/media/pt1bwvzu/naif_annualreport_2022_23.pdf)`\n- [Page 10]\nGovernance and operation of the Northern Australia Infrastructure Facility (NAIF)\nSubmission 43\nNAIF MANDATED ROLE OF FINANCIAL PARTNER AND GAP\nFINANCIER\nNAIF purpose and vision\nNAIF’s strategic vision is to transform northern Australia by financing infrastructure\ndevelopment that generates:\n public benefit ;\n9\n longer term growth in population and the economy ;\n10\n greater private sector participation in financing northern Australia infrastructure\ndevelopment ; and\n11\n sustainable Indigenous participation, procurement and employment.\n Source: `reviews/submission-to-the-senate-inquiry-into-the-governance-and-operation-of-the-naif-4.pdf (https://cdn.naif.gov.au/media/15xh50sx/submission-to-the-senate-inquiry-into-the-governance-and-operation-of-the-naif-4-august-2017.pdf)`\n- [Page 46]\nAnnual Report 20 — 21\nRisk Management\nNAIF’s approach to risk management is consistent with the International Standard for Risk Management ISO 31000\nand is designed to support NAIF in the achievement of its vision and strategic objectives.\n Source: `annual-reports/2020-21.pdf (https://cdn.naif.gov.au/media/ibjdhmyv/naif_annreport2021_1410-final.pdf)`\n- NAIF outperformed in meeting Indigenous Employment\nNAIF achieves this purpose by fulfilling its legislative Outcomes and Regional Job Creation during the period,\nfunctions which are: while partially meeting the Public Benefit and Investment\nDecision targets.\n• t o provide financial assistance predominantly\nthrough the States and Territories, to other entities NAIF has made favourable progress over FY23-24 with\nfor the development of northern Australia economic the Board making four Investment Decisions to offer loans\ninfrastructure; and totalling $580 million, to support projects with a total\ncapital value of $3.4 billion.\n• t o determine terms and conditions for financial\nassistance; and The analysis of NAIF’s overall performance should be\nread in conjunction with the remainder of the Annual\n• t o provide incidental assistance to the States and\nReport including the Chair and CEO Report.\n Source: `annual-reports/2023-24.pdf (https://cdn.naif.gov.au/media/2iqd3brg/naif-annualreport-2023-24-digital.pdf)`\n\n### Role and Functions\n\n- Figure 10: Summary of Board Audit and Risk Committee Member meeting attendance FY21-22\nBARC Attended\nBoard Member\nKate George1 2\nMark Gray2 3\nLisa Hewitt3 2\nJustin Mannolini4 1\nSteve Margetic5 3\nGovernment Member (Delegates of the Secretary)\nVicki Middleton6 1\n1 Interim member from 9 November 2021 until 8 February 2022\n2 Member from 14 December 2021; Chair from 8 February 2022\n3 Member from 8 February 2022\n4 Member and interim Chair from 22 September 2021 until resignation from Board\n5 Member from 22 September 2021; Interim Chair from 9 November 2021\nPeople and Remuneration Committee\nThe People and Remuneration Committee (PRemCo) is a sub-committee of the Board and its primary role is to provide\nstrategic advisory oversight of NAIF’s people and remuneration policies, frameworks, initiatives and strategies to assist in\n Source: `annual-reports/2021-22.pdf (https://cdn.naif.gov.au/media/knkgq3gs/naif_annualreport_2021_22_final-web-single.pdf)`\n- Figure 13: Summary of Board Audit and Risk Committee Member meeting attendance FY22-23\nBARC\nBoard Member Eligible Attended\nMark Gray (Chair) 4 3\nLisa Hewitt 4 4\nSteve Margetic 4 4\nPeople and Remuneration Committee\nThe People and Remuneration Committee (PRemCo) is a sub-committee of the Board and its primary role is to\nprovide strategic advisory oversight of NAIF’s people and remuneration policies, frameworks, initiatives and strategies\nto assist in enabling NAIF to fully and effectively perform its functions to ensure the success of NAIF.\n Source: `annual-reports/2022-23.pdf (https://cdn.naif.gov.au/media/pt1bwvzu/naif_annualreport_2022_23.pdf)`\n- [pages 14,15,16]\nental\nsustainability appropriation budget\nAt an Investment Decision By 2023-24 transaction loan revenues exceed NAIF\nportfolio level, over the life of accumulated operating costs\nthe NAIF supported loans -\ntransaction loan revenue\nexceeds NAIF accumulated\noperating costs\nPage 12 of 20\n Source: `corporate-plans/2020-21.pdf (https://cdn.naif.gov.au/media/ksablmqu/corporate-plan-2020-2024-final-web.pdf)`\n- [Page 13]\nNAIF | NORTHERN AUSTRALIA INFRASTRUCTURE FACILITY CORPORATE PLAN 2022 - 2026\nFigure 5: Key Enterprise Risks\nINVESTMENT\n· Impact\n· Debt\n· Equity\n· Financing Partnership\n· Portfolio\nBEHAVIOURS\n· People\n· Conduct\n· H ealth, Safety &\nEnvironment\nORGANISATION\n· Strategy\n· Financial\n· Compliance\n· Information Management\n· Stakeholder Relations\nTable 6: How we manage Key Enterprise Risks\n• Comprehensive due diligence process including templates, tools, and technical\nspecialist input to assess each investment opportunity\n• Internal and Board investment decision process to ensure alignment to our\nmandate objectives and adherence to our risk appetite\n• Continuous monitoring and reporting of portfolio performance internally\nand to the Board\n• Annual strategic planning process with Board and management\n• Monitoring and reporting of business performance against Corporate Plan objectives\n Source: `corporate-plans/2023-24.pdf (https://naif.gov.au/media/mx3cyh2d/naif-fy2022-23-corporate-plan-final-1.pdf)`\n- [Page 17]\nNAIF | NORTHERN AUSTRALIA INFRASTRUCTURE FACILITY CORPORATE PLAN 2024 - 2026\nFigure 5: Key Enterprise Risks\nTable 6: How we manage Key Enterprise Risks\n• Comprehensive due diligence process including templates, tools, and technical specialist input to assess each\ninvestment opportunity\n• Project Consultation process with Commonwealth, Commonwealth Departments, State and Territory Governments\nand project stakeholders to obtain and address feedback on each project\n• Internal and Board investment decision process to ensure alignment to our mandate objectives and adherence to\nour risk appetite\n• Continuous monitoring and reporting of portfolio performance internally and to the Board\n• Annual strategic planning process with Board and management\n• Monitoring and reporting of business performance against Corporate Plan objectives\n Source: `corporate-plans/2024-25.pdf (https://cdn.naif.gov.au/media/tcucgoss/fy24-25-corporate-plan.pdf)`\n- [Page 12]\nAnnual Report 20 — 21\nC H R I S W A D E\nFrom the CEO\n“During a challenging 2020-21, I am pleased\nto report that NAIF clearly demonstrated our\nkey role in investing for impact and facilitating\neconomic, population growth and Indigenous\noutcomes in northern Australia.”\nDuring a challenging 2020-21, I am pleased to report that a value of $1.5 billion (double our Corporate Plan target\nNAIF continued to undertake our key role in investing for of $750 million to $850 million).\nimpact and facilitating the growth of northern Australia.\n Source: `annual-reports/2020-21.pdf (https://cdn.naif.gov.au/media/ibjdhmyv/naif_annreport2021_1410-final.pdf)`\n\n### Strategic Priorities\n\n- Figure 13: Number of FTE Employees\n30 June 2021 30 June 2020\nTotal FTE staff 29.4 22.4\nFigure 14: Number of Full-Time / Part-Time Employees (by headcount)\n30 June 2021 30 June 2020\nFull-Time Employees 27 20\nPart-Time Employees 3 3\nFigure 15: Location of Employees (by headcount)\n30 June 2021 30 June 2020\nCairns 10 6\nBrisbane 1 1\nSydney 15 15\nDarwin 2 0\nTownsville 1 0\nPerth 1 1\nDiversity and Inclusion\nIt is a strategic priority for NAIF to build and maintain a diverse workforce with the technical skills to fulfil its purpose.\n Source: `annual-reports/2020-21.pdf (https://cdn.naif.gov.au/media/ibjdhmyv/naif_annreport2021_1410-final.pdf)`\n- [Page 54]\nNAIF | NORTHERN AUSTRALIA INFRASTRUCTURE FACILITY PEOPLE\nFigure 16: Number of FTE Employees\n30 June 2022 30 June 2021\nTotal FTE staff 37.2 29.4\nFigure 17: Number of Full-Time / Part-Time Employees (by headcount)\n30 June 2022 30 June 2021\nFull-Time Employees 34 27\nPart-Time Employees 4 3\nFigure 18: Location of Employees (by headcount)\n30 June 2022 30 June 2021\nCairns 13 10\nBrisbane 4 1\nDarwin 1 2\nTownsville 2 1\nPerth 2 1\nSydney 16 15\nDiversity and Inclusion employment conditions, recruitment selection,\nIt is a strategic priority for NAIF to build and maintain remuneration, learning and development, and promotion.\na diverse workforce with the technical skills to fulfil its NAIF recognises that its culturally diverse team enhances\npurpose.\n Source: `annual-reports/2021-22.pdf (https://cdn.naif.gov.au/media/knkgq3gs/naif_annualreport_2021_22_final-web-single.pdf)`\n- [Page 61]\nNAIF | NORTHERN AUSTRALIA INFRASTRUCTURE FACILITY PEOPLE\nFigure 20: Number of FTE Employees\n30 June 2023 30 June 2022\nTotal FTE staff 43.2 37.2\nFigure 21: Number of Full-Time / Part-Time Employees (by headcount)\n30 June 2023 30 June 2022\nFull-Time Employees 38 34\nPart-Time Employees 7 4\nFigure 22: Location of Employees (by headcount)\n30 June 2023 30 June 2022\nCairns 20 13\nBrisbane 3 4\nDarwin 2 1\nTownsville 2 2\nPerth 5 2\nSydney 13 16\nDiversity and Inclusion In this reporting period NAIF become a relevant\nIt is a strategic priority for NAIF to build and maintain authority under the Equal Employment Opportunity\na diverse workforce with the technical skills to fulfill its (Commonwealth Authorities) Act 1987.\n Source: `annual-reports/2022-23.pdf (https://cdn.naif.gov.au/media/pt1bwvzu/naif_annualreport_2022_23.pdf)`\n- [Page 60]\nNorthern Australia Infrastructure Facility People\nFigure 18: Number of FTE Employees\n30 June 2024 30 June 2023\nTotal FTE staff 48.6 43.2\nFigure 19: Number of Full-Time / Part-Time Employees (by headcount)\n30 June 2024 30 June 2023\nFull-Time Employees 42 38\nPart-Time Employees 9 7\nFigure 20: Location of Employees (by headcount)\n30 June 2024 30 June 2023\nCairns 25 20\nBrisbane 3 3\nDarwin 3 2\nTownsville 2 2\nPerth 5 5\nSydney 13 13\nDiversity and Inclusion include those identifying as female, Aboriginal or Torres\nIt is a strategic priority for NAIF to build and maintain Strait Islander; those who migrated to Australia whose\na diverse workforce with the technical skills to fulfill its first language is not English and the children of those\npurpose.\n Source: `annual-reports/2023-24.pdf (https://cdn.naif.gov.au/media/2iqd3brg/naif-annualreport-2023-24-digital.pdf)`\n- [Page 62]\nNorthern Australia Infrastructure Facility People\nFigure 16: Number of FTE Employees\n30 June 2025 30 June 2024\nTotal FTE staff 52.3 48.6\nFigure 17: Number of Full-Time / Part-Time Employees (by headcount)\n30 June 2025 30 June 2024\nFull-Time Employees 48 42\nPart-Time Employees 6 9\nFigure 18: Location of Employees (by headcount)\n30 June 2025 30 June 2024\nCairns 27 25\nBrisbane 2 3\nDarwin 4 3\nTownsville 1 2\nPerth 6 5\nSydney 14 13\nDiversity and Inclusion include those identifying as female, Aboriginal or Torres\nIt is a strategic priority for NAIF to build and maintain Strait Islander; those who migrated to Australia whose\na diverse workforce with the technical skills to fulfill its first language is not English and the children of those\npurpose.\n Source: `annual-reports/2024-25.pdf (https://cdn.naif.gov.au/media/obldtcoq/naif-annualreport-2024-25-web.pdf)`\n- Requirements Page(s)\nIntroduction 2\n− Statement of preparation\n− The reporting period for which the plan is prepared\n− The reporting periods covered by the plan\nPurposes 3\nKey activities 5\nOperating context\n− Environment 8\n− Capability 10\n− Risk oversight and management, 11\nincluding key risks and its management\n− Cooperation 13\n− Subsidiaries (where applicable) N/A\nPerformance\n− Performance measures 7\n− Targets for each performance measures 7\n(if reasonably practicable to set a target)\nPage 14 of 15\n Source: `corporate-plans/2023-24.pdf (https://naif.gov.au/media/mx3cyh2d/naif-fy2022-23-corporate-plan-final-1.pdf)`\n- Requirements Page(s)\nIntroduction 3\n− Statement of preparation\n− The reporting period for which the plan is prepared\n− The reporting periods covered by the plan\nPurposes 4\nKey activities 6\nOperating context\n− Environment 13\n− Capability 15\n− Risk oversight and management, 16\nincluding key risks and its management\n− Cooperation 18\n− Subsidiaries (where applicable) N/A\nPerformance\n− Performance measures 9-12\n− Targets for each performance measures (if reasonably practicable to set a target) 9-12\nImage: ARAFURA RARE EARTHS LIMITED: Nolans Bore Rare Earths Project, Anmatjere, Northern Territory.\n Source: `corporate-plans/2024-25.pdf (https://cdn.naif.gov.au/media/tcucgoss/fy24-25-corporate-plan.pdf)`\n- 2024-25 2025-26 2026-271 2027-281\nDemonstrate alignment of Investment Decisions to\n≥1 ≥1 TBC TBC\nGovernment policy priorities\nMethodology: each investment decision contributes to one or more Government policy priorities as outlined in Schedule 2 of\nNAIF’s Investment Mandate.\n Source: `corporate-plans/2024-25.pdf (https://cdn.naif.gov.au/media/tcucgoss/fy24-25-corporate-plan.pdf)`\n- Number of performance measures reported\nActivity Efficiency Effectiveness Output Total\nFinancing transformational\n- 1 2 3\nopportunities in northern Australia\nFacilitate economic and\n- - 2 2\nsustainable growth\nExpand and promote Indigenous\n- - 2 2\nopportunities and outcomes\nEfficient use of NAIF resources 1 - - 1\nCollaborate and partner to\nensure cohesive efforts to - 2 - 2\nadvance northern Australia\nSupporting Government Priorities - 1 1 2\nNumber of performance measures reported\nActivity Qualitative Quantitative Both Total\nFinancing transformational\n- 3 - 3\nopportunities in northern Australia\nFacilitate economic and\n- 2 - 2\nsustainable growth\nExpand and promote Indigenous\n- 2 - 2\nopportunities and outcomes\nEfficient use of NAIF resources - 1 - 1\nCollaborate and partner to\nensure cohesive efforts to 1 1 - 2\nadvance northern Australia\nSupporting Government Priorities 2 - - 2\nPage 20 of 21\n Source: `corporate-plans/2024-25.pdf (https://cdn.naif.gov.au/media/tcucgoss/fy24-25-corporate-plan.pdf)`\n- 2025-26 2026-271 2027-281 2028-291\nDemonstrate alignment of Investment Decisions to\n≥1 TBC TBC TBC\nGovernment policy priorities\nMethodology: each investment decision contributes to one or more Government policy priorities as outlined in Schedule 2 of\nNAIF’s Investment Mandate.\n Source: `corporate-plans/2025-26.pdf (https://cdn.naif.gov.au/media/0sakbuzw/naif-corporate-plan-fy25-26-final.pdf)`\n\n## KPIs, Targets, and Where They Are At\n\n- Table 2: Our performance criteria\nKPI Proposed target 2022-23 2023-24 2024-25 2025-26\nContributing to the Nation\nAnnual, cumulative calculation for\nPublic Benefit ratio\nnew Investment Decisions (ID’s):\n(Public Benefit/NAIF >10x >10x >10x >10x\nquantified Public Benefit is >10x\nloan)\nNAIF loan value\nAnnual, cumulative calculation for\nJob creation new IDs: total job numbers divided >5 >5 >5 >5\nby total NAIF loan value >5\nProudly Investing & Growing Northern Australia\nDollar value of Investment decision approved of\n$1-1.25bn $1-1.25bn $1-1.25bn* $1-1.25bn*\nInvestment Decisions between $1bn-$1.25bn\nDelivering Indigenous Outcomes\n> 1 new ID supporting a majority\nIndigenous Strategies > 1 > 1 > 1 > 1\nIndigenous owned business or project\nIndigenous Annual, average percentage of\nAverage of the Indigenous employment\nEmployment Indigenous specific jobs for new\ntargets is > 3%, across new IDs\n Source: `corporate-plans/2023-24.pdf (https://naif.gov.au/media/mx3cyh2d/naif-fy2022-23-corporate-plan-final-1.pdf)`\n- GROWTH IN Annual ID’s approved Partially achieved\nINVESTMENT of between $1bn -\n$491m of Investment Decisions in FY22-23 against a target of\nACTIVITY $1.25bn\nbetween $1 billion - $1.25 billion.\n Source: `annual-reports/2022-23.pdf (https://cdn.naif.gov.au/media/pt1bwvzu/naif_annualreport_2022_23.pdf)`\n- Jobs creation As detailed previously the primary reason for only\nThe Investment Decisions by the NAIF Board are partially meeting the jobs creation performance measure\nforecast to support 1,075 jobs in either the construction this financial year is that two of the four Investment\nor operational phase which will contribute to economic Decisions during the year had the forecast new jobs\nand population growth in the regions of those projects. associated with the projects recognised in a previous\nfinancial year, namely the:\nEach project proponent is required to forecast all new\njobs to be created in northern Australia as a result of • P erdaman Urea Plant which is forecast to support\nNAIF’s support. peak full-time employment of 2,405 jobs during\nconstruction and 85 new jobs during the operational\nThe jobs recognised this financial year were on the\nlife; and\n Source: `annual-reports/2022-23.pdf (https://cdn.naif.gov.au/media/pt1bwvzu/naif_annualreport_2022_23.pdf)`\n- [Page 29]\nAnnual Report 2023 — 2024\nFigure 1: NAIF Performance Summary for FY23-24\nSource of Performance Criterion: NAIF Corporate Plan FY23-24 page 8-11\nPerformance criteria Measure /Target Outcome\nContributing to the Nation\n1.\n Source: `annual-reports/2023-24.pdf (https://cdn.naif.gov.au/media/2iqd3brg/naif-annualreport-2023-24-digital.pdf)`\n- DOLLAR VALUE Annual ID’s approved Partially achieved\nOF INVESTMENT of between $1bn\n$580 million of Investment Decisions in FY23-24 against a target\nDECISIONS (ID’S) -$1.25bn\nof between $1 billion to $1.25 billion.\n Source: `annual-reports/2023-24.pdf (https://cdn.naif.gov.au/media/2iqd3brg/naif-annualreport-2023-24-digital.pdf)`\n- [Page 31]\nAnnual Report 2024 — 2025\nFigure 1: NAIF Performance Summary for FY24-25\nSource of Performance Criterion: NAIF Corporate Plan FY24-25 page 9-12\nPerformance criteria Measure /Target Outcome\nFinancing transformational opportunities in northern Australia\n1.\n Source: `annual-reports/2024-25.pdf (https://cdn.naif.gov.au/media/obldtcoq/naif-annualreport-2024-25-web.pdf)`\n- Contractual close Not achieved.\nper annum Contractual close reached on projects worth $454m during the\nperiod against a target of between $0.8 - $1bn.\n Source: `annual-reports/2021-22.pdf (https://cdn.naif.gov.au/media/knkgq3gs/naif_annualreport_2021_22_final-web-single.pdf)`\n- DOLLAR VALUE OF >$700 million Partially achieved\nINVESTMENT DECISIONS $340 million of Investment Decisions in FY24-25 against\n(ID’s) a target of >$700 million.\n Source: `annual-reports/2024-25.pdf (https://cdn.naif.gov.au/media/obldtcoq/naif-annualreport-2024-25-web.pdf)`\n- In FY23-24 the project\nslightly higher than forecast. has procured $170,000 from northern Australian\nsuppliers and $30,000 from Indigenous suppliers.\n• C onstruction activity is estimated to have\nsupported 232 direct and indirect jobs, and ongoing • I n addition to the economic activity generated\nemployment generated by operations of the Centre through construction and operation of the Centre,\nreached 27 direct and indirect jobs by June 2023. there have been numerous other ongoing benefits\nto the north Queensland community, including\n• T he project committed to achieve an Indigenous\nenhanced social connection and community pride,\nparticipation target of 6.6 per cent during the\nincreased knowledge of sport science, career\nconstruction phase and achieved 13 per cent\nbenefits for athletes and increased visitation to\nIndigenous participation, nearly double the target.\nnorth Queensland.\n Source: `annual-reports/2023-24.pdf (https://cdn.naif.gov.au/media/2iqd3brg/naif-annualreport-2023-24-digital.pdf)`\n- [pages 29,30,31]\nartially achieved\nOF INVESTMENT of between $1bn\n$580 million of Investment Decisions in FY23-24 against a target\nDECISIONS (ID’S) -$1.25bn\nof between $1 billion to $1.25 billion.\n Source: `annual-reports/2023-24.pdf (https://cdn.naif.gov.au/media/2iqd3brg/naif-annualreport-2023-24-digital.pdf)`\n- KMS is focusing on\n• H PA First Project – Indigenous employment target of 3% local and West Kimberley Indigenous employment and\nin the first year of operations and increasing to 6% by the procurement outcomes.\nthird year of operations. • Q ueensland Airports Ltd – Redevelopment of Townsville\n• N orth Queensland Airports Upgrade Project – the IES Airport: 36% Indigenous employment rate achieved on\nfor NQA includes a staged Indigenous employment the Departure Lounge redevelopment during Q3-Q4\ntarget which starts at 3% in FY24-25, increasing to 6% by 2023.\n Source: `annual-reports/2023-24.pdf (https://cdn.naif.gov.au/media/2iqd3brg/naif-annualreport-2023-24-digital.pdf)`\n- Total capital value of Achieved.\nprojects supported\n$3.0bn aggregate total capital value of projects supported\nper annum\nby those new NAIF investment decisions against a target\nof between $1.5bn-$2bn.\n Source: `annual-reports/2020-21.pdf (https://cdn.naif.gov.au/media/ibjdhmyv/naif_annreport2021_1410-final.pdf)`\n- Contractual close Achieved.\nper annum\nContractual close reached on projects worth $1.48bn\nduring the period against a target of between $0.75-.85bn.\n Source: `annual-reports/2020-21.pdf (https://cdn.naif.gov.au/media/ibjdhmyv/naif_annreport2021_1410-final.pdf)`\n- [Page 25]\nAnnual Report 2023 — 2024\nAPA Group Chichester Solar Gas Hybrid Project\nPart of NAIF’s investment mandate is to actively support • T he project achieved Indigenous employment during\nprojects that help deliver Australia’s clean energy construction of 8 FTE, higher than the target of 7 FTE.\ntransformation and net zero targets and Australia’s Indigenous procurement spend during construction\nambition to be a renewable energy superpower. fostered economic growth and collaboration.\n Source: `annual-reports/2023-24.pdf (https://cdn.naif.gov.au/media/2iqd3brg/naif-annualreport-2023-24-digital.pdf)`\n\n## Key Metrics\n\n| Values found | Evidence | Source |\n|---|---|---|\n| $45 million, 45 million | NAIF IS NET ZERO COST TO >1 Achieved\nGOVERNMENT Net notional revenue in FY24-25 totalled ~ $45 million,\n(Net notional revenue covers over twice the annual operating budget and ~2.5x actual\noperational expenses for the expenditure.\nyear)\n31 | `annual-reports/2024-25.pdf (https://cdn.naif.gov.au/media/obldtcoq/naif-annualreport-2024-25-web.pdf)` |\n| $45.3 million, $22.4 million, $18.6\n, 45.3 million, 22.4 million | Nations participation target of 3%, either through Taking into account a notional borrowing cost based on\nthe value of subcontract works awarded to certified the Commonwealth 10-year bond rate, NAIF’s FY24-25\nFirst Nations businesses or through an equivalent investment activity generated a net notional revenue of\npercentage of on-site labour hours performed by First $45.3 million, over twice the annual operating budget\nNations employees. of $22.4 | `annual-reports/2024-25.pdf (https://cdn.naif.gov.au/media/obldtcoq/naif-annualreport-2024-25-web.pdf)` |\n| $22.9 million, $6.2\nmillion, 22.9 million, 6.2\nmillion | NAIF’s transaction revenue over the\nmechanism to report suspected compliance breaches. financial year was $22.9 million, representing a $6.2\nmillion increase from FY20-21 and 182% of FY21-22\nNAIF actively managed and monitored Key Enterprise\noperating expenses. | `annual-reports/2021-22.pdf (https://cdn.naif.gov.au/media/knkgq3gs/naif_annualreport_2021_22_final-web-single.pdf)` |\n| $258,000 | Revenue from government is in line with the Portfolio Budget Statements 2022-23 and Whole of Government savings measure announced in\nthe October Budget resulting in a reduction in appropriation of $258,000. | `annual-reports/2022-23.pdf (https://cdn.naif.gov.au/media/pt1bwvzu/naif_annualreport_2022_23.pdf)` |\n| $11.891 million, $13.187 million, $1.296 million, 11.891 million, 13.187 million, 1.296 million | In 2020-21, $11.891 million of the $13.187 million budget was expensed leaving an underspend of $1.296 million. | `annual-reports/2020-21.pdf (https://cdn.naif.gov.au/media/ibjdhmyv/naif_annreport2021_1410-final.pdf)` |\n| $14.428 million, $18.967 million, $4.539 million, 14.428 million, 18.967 million, 4.539 million | In 2021-22, $14.428 million of the $18.967 million budget was expensed leaving an underspend of $4.539 million. | `annual-reports/2021-22.pdf (https://cdn.naif.gov.au/media/knkgq3gs/naif_annualreport_2021_22_final-web-single.pdf)` |\n| $12.880 million, $20.681 million, $7.801 million, 12.880 million, 20.681 million, 7.801 million | In 2022-23, $12.880 million of the $20.681 million budget was expensed leaving an underspend of $7.801 million. | `annual-reports/2022-23.pdf (https://cdn.naif.gov.au/media/pt1bwvzu/naif_annualreport_2022_23.pdf)` |\n| $1, $1bn, $1.25bn | Table 2: Our performance criteria\nKPI Proposed target 2022-23 2023-24 2024-25 2025-26\nContributing to the Nation\nAnnual, cumulative calculation for\nPublic Benefit ratio\nnew Investment Decisions (ID’s):\n(Public Benefit/NAIF >10x >10x >10x >10x\nquantified Public Benefit is >10x\nloan)\nNAIF loan value\nAnnual, cumulative calculation for\nJob creation new IDs: total job numbers divided >5 >5 >5 >5\nby total NAIF loan value >5\nProudly Investing & Growing | `corporate-plans/2023-24.pdf (https://naif.gov.au/media/mx3cyh2d/naif-fy2022-23-corporate-plan-final-1.pdf)` |\n| $1bn, $491m, $1.25bn, $1 billion, $1.25 billion, 1 billion | GROWTH IN Annual ID’s approved Partially achieved\nINVESTMENT of between $1bn -\n$491m of Investment Decisions in FY22-23 against a target of\nACTIVITY $1.25bn\nbetween $1 billion - $1.25 billion. | `annual-reports/2022-23.pdf (https://cdn.naif.gov.au/media/pt1bwvzu/naif_annualreport_2022_23.pdf)` |\n| $1bn, $580 million, $1.25bn, $1 billion, $1.25 billion, 580 million | DOLLAR VALUE Annual ID’s approved Partially achieved\nOF INVESTMENT of between $1bn\n$580 million of Investment Decisions in FY23-24 against a target\nDECISIONS (ID’S) -$1.25bn\nof between $1 billion to $1.25 billion. | `annual-reports/2023-24.pdf (https://cdn.naif.gov.au/media/2iqd3brg/naif-annualreport-2023-24-digital.pdf)` |\n| $454m, $0.8 , $1bn | Contractual close Not achieved.\nper annum Contractual close reached on projects worth $454m during the\nperiod against a target of between $0.8 - $1bn. | `annual-reports/2021-22.pdf (https://cdn.naif.gov.au/media/knkgq3gs/naif_annualreport_2021_22_final-web-single.pdf)` |\n| $700 million, $340 million, 700 million, 340 million | DOLLAR VALUE OF >$700 million Partially achieved\nINVESTMENT DECISIONS $340 million of Investment Decisions in FY24-25 against\n(ID’s) a target of >$700 million. | `annual-reports/2024-25.pdf (https://cdn.naif.gov.au/media/obldtcoq/naif-annualreport-2024-25-web.pdf)` |\n| $170,000 , $30,000 , 6.6 per cent, 13 per cent | In FY23-24 the project\nslightly higher than forecast. has procured $170,000 from northern Australian\nsuppliers and $30,000 from Indigenous suppliers.\n• C onstruction activity is estimated to have\nsupported 232 direct and indirect jobs, and ongoing • I n addition to the economic activity generated\nemployment generated by operations of the Centre through construction and operation of the Centre,\nreached 27 direct and indirect jobs by June 2023. the | `annual-reports/2023-24.pdf (https://cdn.naif.gov.au/media/2iqd3brg/naif-annualreport-2023-24-digital.pdf)` |\n| $1bn, $580 million, $1.25bn, $1 billion, $1.25 billion, 580 million | [pages 29,30,31]\nartially achieved\nOF INVESTMENT of between $1bn\n$580 million of Investment Decisions in FY23-24 against a target\nDECISIONS (ID’S) -$1.25bn\nof between $1 billion to $1.25 billion. | `annual-reports/2023-24.pdf (https://cdn.naif.gov.au/media/2iqd3brg/naif-annualreport-2023-24-digital.pdf)` |\n| $3.0bn, $1.5bn, $2bn | Total capital value of Achieved.\nprojects supported\n$3.0bn aggregate total capital value of projects supported\nper annum\nby those new NAIF investment decisions against a target\nof between $1.5bn-$2bn. | `annual-reports/2020-21.pdf (https://cdn.naif.gov.au/media/ibjdhmyv/naif_annreport2021_1410-final.pdf)` |\n| $1.48bn, $0.75 | Contractual close Achieved.\nper annum\nContractual close reached on projects worth $1.48bn\nduring the period against a target of between $0.75-.85bn. | `annual-reports/2020-21.pdf (https://cdn.naif.gov.au/media/ibjdhmyv/naif_annreport2021_1410-final.pdf)` |\n| 8 FTE, 7 FTE | [Page 25]\nAnnual Report 2023 — 2024\nAPA Group Chichester Solar Gas Hybrid Project\nPart of NAIF’s investment mandate is to actively support • T he project achieved Indigenous employment during\nprojects that help deliver Australia’s clean energy construction of 8 FTE, higher than the target of 7 FTE.\ntransformation and net zero targets and Australia’s Indigenous procurement spend during construction\nambition to be a renewable energy superpower. fos | `annual-reports/2023-24.pdf (https://cdn.naif.gov.au/media/2iqd3brg/naif-annualreport-2023-24-digital.pdf)` |\n| $34m | Indigenous employment target of 3% during construction.\n• K imberley Mineral Sands (KMS) – Thunderbird Mineral\n• A rafura Nolans Bore Rare Earths – the IES includes an Sands Project: achieved 22% Indigenous employment\nIndigenous employment target of 20% over the life of the across a 387 total workforce and a $34m spend towards\nproject. | `annual-reports/2023-24.pdf (https://cdn.naif.gov.au/media/2iqd3brg/naif-annualreport-2023-24-digital.pdf)` |\n\n## Key Achievements\n\n- Policy explicitly embeds First Nations participation as a\nThe highlights of progress of the year are: core principle, whereby NAIF aims to:\n• E nergy - transitioned NAIF’s only managed office to • P romote Indigenous procurement through preferred\n100% green energy, plan is to transition other managed supplier engagement;\noffices where available and based on cost.\n• U se Indigenous procurement databases such as\n• B uildings - moved Perth office to a building with a Supply Nation, Black Business Directory, and state-\nhigher NABERS rating (previously 4, now 4.5) and based Aboriginal business directories; and\nplants have been introduced to Cairns, Sydney and\n• A lign with the Commonwealth Procurement Rules and\nPerth offices contributing to cleaner air and staff\nPGPA Act, ensuring value for money while advancing\nwellbeing.\nsocial sustainable outcomes.\n Source: `annual-reports/2024-25.pdf (https://cdn.naif.gov.au/media/obldtcoq/naif-annualreport-2024-25-web.pdf)`\n- In our opinion, based on material provided to the Board,\nOur purpose facilitates the achievement of outcomes\nthis Annual Performance Statement accurately reflects\nas outlined in the FY22-23 Department of Infrastructure,\nthe performance of the entity, and complies with\nTransport, Regional Development, Communications and\nsubsection 39(2) of the PGPA Act.\nthe Arts Portfolio Budget Statement (page 459) to ‘enable\neconomic growth in northern Australia, by facilitating\nprivate sector investment in economic infrastructure,\nprimarily through the provision of concessional financing\ndelivered through the State and Territory Governments.’\nTracey Hayes Results\nCHAIR OF THE NAIF BOARD A summary of NAIF’s performance outcomes is included\nin figure 1.\n Source: `annual-reports/2022-23.pdf (https://cdn.naif.gov.au/media/pt1bwvzu/naif_annualreport_2022_23.pdf)`\n- [pages 16,17,18,19]\nstrengthen its risk management practices in FY25–26, following recent maturity achievements\nin the 2025 Comcover Risk Management Benchmarking Survey.\n Source: `corporate-plans/2025-26.pdf (https://cdn.naif.gov.au/media/0sakbuzw/naif-corporate-plan-fy25-26-final.pdf)`\n- WEST KIMBERLEY\n$95m\n2020-21 Highlights\nMardie\n• 11 Investment Decisions to offer loans totalling\n$1.1bn, to support projects with a total capital Salt and Potash\nvalue of $3 billion in the year to 30 June 2021. project\nKalium Lakes\n• 11 projects reaching contractual close in the year PILBARA REGION\nSulphate of Potash\nto 30 June 2021, for a total value of $1.5 billion. $450m\nSOUTHEAST OF NEWMAN\n• Support of projects across range of sectors\n$74m\nand regions.\n• Key construction milestones achieved for\na number of NAIF supported projects.\n Source: `annual-reports/2020-21.pdf (https://cdn.naif.gov.au/media/ibjdhmyv/naif_annreport2021_1410-final.pdf)`\n- Our purpose facilitates the achievement of outcomes\nas outlined in the FY2020-21 DISER Portfolio Budget\nStatement page 358 to ‘enable economic growth\nin northern Australia, by facilitating private sector\ninvestment in economic infrastructure through the\nprovision of concessional financing delivered through\nthe state and territory governments.’\n24\n Source: `annual-reports/2020-21.pdf (https://cdn.naif.gov.au/media/ibjdhmyv/naif_annreport2021_1410-final.pdf)`\n- Statement page 321 to ‘enable economic growth\nin northern Australia, by facilitating private sector The analysis of NAIF’s overall performance below should\ninvestment in economic infrastructure through the be read in conjunction with the remainder of the Annual\nprovision of concessional financing delivered through Report, including the Chair and CEO Report.\nthe state and territory governments.’\nResults\nNAIF has made significant progress over the 2021-22\nfinancial year, with the Board making ten Investment\nDecisions to offer loans totalling $752m, to support\n26\n Source: `annual-reports/2021-22.pdf (https://cdn.naif.gov.au/media/knkgq3gs/naif_annualreport_2021_22_final-web-single.pdf)`\n- [Page 3]\nAnnual Report 2023 — 2024\nContents\n02 Investing for Impact\n04 Performance Summary\n06 Investment Decisions\n08 From the Chair\n10 From the CEO\n12 Policy Update\n14 Strategic Framework\n16 Investment Report\n21 Project Progress\n24 Investing for Impact - Project Outcomes\n26 Indigenous Outcomes\n28 Annual Performance Statement\n36 Corporate Governance\n48 Board\n54 Risk Management\n58 People\n68 Climate Disclosure\n78 Financial Statements\n96 Index of Statutory Reporting Requirements\n98 Abbreviations and Acronyms\n3\n Source: `annual-reports/2023-24.pdf (https://cdn.naif.gov.au/media/2iqd3brg/naif-annualreport-2023-24-digital.pdf)`\n- The purpose facilitates the achievement of outcomes as\noutlined in the FY23-24 Department of Infrastructure,\nTransport, Regional Development, Communications and\nthe Arts Portfolio Budget Statement (page 485) to ‘enable\nTracey Hayes\neconomic growth in northern Australia, by facilitating\nCHAIR OF THE NAIF BOARD private sector investment in economic infrastructure,\nprimarily through the provision of concessional financing\ndelivered through the State and Territory Governments.’\nPurpose Results\nNAIF contributes to the Nation by proudly investing in the A summary of results is included in figure 1.\ngrowth of northern Australia.\n Source: `annual-reports/2023-24.pdf (https://cdn.naif.gov.au/media/2iqd3brg/naif-annualreport-2023-24-digital.pdf)`\n- Figure 21: FY24-25 KMPs\nName Title Term as KMP\nBoard\nMs Tracey Hayes Chair Full year\nMr Grant Cassidy Board Member Full year\nMs Kate George Board Member Full year\nMr Mark Gray Board Member Part year - ended 30 November 2024\nMs Lisa Hewitt Board Member Full year\nMr Steve Margetic Board Member Full year\nMs Vanessa Elliott Board Member Full year\nMr Robert Edel Board Member Part year - started 1 December 2024\nDelegates of the Secretary Board Member Full year\nManagement\nMr Craig Doyle Chief Executive Officer Full year\nChief Investment Risk Officer and Chief\nMr Nicholas Mant Part year - ended 4 June 2025\nSustainability Officer\nMs Alicia Tuppack Chief Operating Officer Full year\nMr Christopher Collins Chief Legal Officer Full year\nMr Stephen Land Chief Investment Officer Full year\nMs Catherine McBean Chief Strategic Policy and Engagement Officer Full year\n Source: `annual-reports/2024-25.pdf (https://cdn.naif.gov.au/media/obldtcoq/naif-annualreport-2024-25-web.pdf)`\n- Refer to the Indigenous Some key achievements during the financial year through\nEngagement Strategy Guideline on NAIF’s website. the IES include:\nAcross the four Investment Decisions during the financial • C harles Darwin University (CDU) this year completed\nyear, an average percentage of >6% was committed to new construction of the new Education and Community\nIndigenous specific jobs, outperforming against a target of Precinct which prominently incorporates Larrakia\n>3%.\n Source: `annual-reports/2023-24.pdf (https://cdn.naif.gov.au/media/2iqd3brg/naif-annualreport-2023-24-digital.pdf)`\n- NAIF’s purpose facilitates the achievement of a program\noutcome, as outlined in the FY24-25 Department\nof Infrastructure, Transport, Regional Development,\nCommunications, Sport and the Arts Portfolio Budget\nTracey Hayes Statement (page 462), to ‘enable economic growth in\nCHAIR OF THE NAIF BOARD northern Australia, by facilitating private sector investment\nin economic infrastructure, primarily through the provision\nof concessional financing delivered through the State and\nTerritory Governments.’\nPurpose\nNAIF contributes to the Nation by proudly investing in the Results\ngrowth of northern Australia.\n Source: `annual-reports/2024-25.pdf (https://cdn.naif.gov.au/media/obldtcoq/naif-annualreport-2024-25-web.pdf)`\n- The discloser must be advised:\nwhen the disclosure is either allocated for investigation or not allocated because it has been determined not to be an internal disclosure\nof information about the principal officer’s discretionary powers to not investigate within 14 days of the disclosure being allocated\nif NAIF decides to investigate under the PID Act, the estimated length of the investigation\nif NAIF decides not to investigate, the reasons for the decision and any action that might be available to the discloser under other Commonwealth laws\nif an investigation is conducted under the PID Act and an extension of time is granted by the Ombudsman, the progress of the investigation\nwhen the investigation report is completed and provided with a copy of the report\nSeeking assistance\nIf you have any queries or need any assistance, please contact us at 1300 466 243.\n Source: `pages/announcements-index.html (https://naif.gov.au/our-organisation/governance/public-interest-disclosure-statement/)`\n\n## Key Issues, Risks, and Recommendations\n\n- Figure 30: Overview of NAIF’s Risk Management approach integrating climate-related risk\nClimate-risk\nAppetite Key Enterprise risks 3 Lines of Defence (LOD) integrate climate\nEmerging Risks 1 LOD 2 LOD\nClimate risk Risk & compliance\nRisk Appetite\nembedded in review, challenge\nStatement\nconsiders Sustainability Shared Risks Sustainability KER and govern process BARC\na Level 1 Key Quarterly\nclimate\nEnterprise Risk Risk\nrisk and\nsustainability Sustainability Risks 3 LOD Reporting\nClimate risk covered\nin internal audit workplan\nProject/Change Risks for annual audits\nQuarterly update of KER through BARC reporting covers climate-related risks and opportunities\nDuring the reporting period, NAIF, in line with the NAIF aims to align its climate risk management\nrefreshed Investment Mandate, embedded climate practices with the Commonwealth Risk Management\nconsiderations across the RAS and RMF.\n Source: `annual-reports/2023-24.pdf (https://cdn.naif.gov.au/media/2iqd3brg/naif-annualreport-2023-24-digital.pdf)`\n- NAIF aims to align its climate risk management practices\nFigure 28: Overview of NAIF’s Risk Management approach integrating climate-related risk\nClimate-risk Key Enterprise risks 3 Lines of Defence (LOD) integrate climate\nAppetite\nEmerging Risks 1 LOD 2 LOD\nClimate risk Risk & compliance\nRisk Appetite\nembedded in review, challenge\nStatement\nconsiders Sustainability Shared Risks Sustainability KER and govern process BARC\nclimate a Level 1 Key Quarterly Board\nEnterprise Risk Risk\nrisk and\nsustainability Sustainability Risks 3 LOD Reporting\nClimate risk covered\nin internal audit workplan\nProject/Change Risks for annual audits\nQuarterly update of KER through BARC reporting covers climate-related risks and opportunities\nDuring FY24-25, NAIF commenced its climate risk Scope, Sources and Timeframes\n Source: `annual-reports/2024-25.pdf (https://cdn.naif.gov.au/media/obldtcoq/naif-annualreport-2024-25-web.pdf)`\n- Progress\nAdditional progress in FY18-19 as part of its ongoing governance and risk policy review schedule\nincluded:\n▪ NAIF’s Board and its Board Audit and Risk Committee (BARC) met thirteen and five times\nrespectively;\n▪ NAIF’s Board reviewed twenty policies, including a comprehensive review of NAIF’s Privacy\nPolicy and related procedures to remain responsive to changes in legislation;\n▪ six new NAIF specific policies were approved,10 namely:\no Complaint Handling\no Corporate Information Security\no Due Diligence Costs\no Procurement\no Records and Information Management\no Staff Travel and Expenses;\n▪ NAIF’s Internal Auditor, McGrathNicol, has progressed on its two-year audit plan incorporating a\nnumber of risk and governance reviews including NAIF’s Annual Performance Statement and\nNAIF Service Level Agreement (SLA) with Export Finance Australia.11 All audits have identified\n Source: `corporate-plans/2019-20.pdf (https://cdn.naif.gov.au/media/b3abpez2/corporate-plan-2019-20-final-web.pdf)`\n- ANAO: Public Sector Governance Better Practice Guide Fundamentals\nStrong leadership Focus on ethical behaviour and \ncontinuous improvement\nFit for purpose Appropriate governance systems \nand processes\nPerformance Orientation Planning, engaging with risk, \ninnovation, and performance\nmonitoring, evaluation and\nreview\nOpenness, transparency Engaging constructively with \nand integrity stakeholders\nPromoting accountability through\nclear reporting on performance\nand operations\nEffective collaboration Collaborative partnerships to \nmore effectively deliver programs\nand services, including\npartnerships outside government\nASX Governance Council: Core Corporate Governance Principles\nLay solid foundations for Management responsibilities, \nmanagement and assessment and policy to provide\noversight oversight\nStructure the Board to add Skills and experience to achieve \nvalue mandate objectives\n Source: `reviews/submission-to-the-senate-inquiry-into-the-governance-and-operation-of-the-naif-4.pdf (https://cdn.naif.gov.au/media/15xh50sx/submission-to-the-senate-inquiry-into-the-governance-and-operation-of-the-naif-4-august-2017.pdf)`\n- The recommendations include:\nextending the NAIF’s operations for five years until 30 June 2026\naccelerating its lending rate\nexpanding the scope of projects eligible for NAIF funding\nincreasing the NAIF’s risk appetite\nstrengthening the NAIF’s governance framework\nStatutory review of the Northern Australia Infrastructure Facility 2020\n2019 Australian National Audit Office report on Governance and Integrity of the Northern Australia Infrastructure Facility\nThe Australian National Audit Office carried out a performance audit of the Northern Australia Infrastructure Facility (NAIF).\n Source: `pages/reforms-index.html (https://naif.gov.au/our-organisation/governance/naif-act-reforms-and-reviews/)`\n- [Page 76]\nAnnual Report 20 — 21\nAbbreviations and Acronyms\nBARC Board Audit and Risk Committee\nCEO Chief Executive Officer\nDISER Department of Industry, Science, Energy and Resources\nDITRDC Department of Infrastructure, Transport, Regional Development and Communications\nEMG Executive Management Group\nESD Ecologically Sustainable Development\nFC Financial Close\nFTE Full Time Equivalent\nFY Financial Year\nIES Indigenous Engagement Strategy\nInvestment Mandate Northern Australia Infrastructure Facility Investment Mandate Direction 2018\nKER Key Enterprise Risks\nKMP Key Management Personnel\nKPI Key Performance Indicator\nMFA Master Facility Agreement\nNAIF Act Northern Australia Infrastructure Facility Act 2016\nPBS Portfolio Budget Statement\nPGPA Act Public Governance, Performance and Accountability Act 2013\nPRemCo People & Remuneration Committee\nRAS Risk Appetite Statement\n Source: `annual-reports/2020-21.pdf (https://cdn.naif.gov.au/media/ibjdhmyv/naif_annreport2021_1410-final.pdf)`\n- Figure 10: Summary of Board Audit and Risk Committee Member meeting attendance FY21-22\nBARC Attended\nBoard Member\nKate George1 2\nMark Gray2 3\nLisa Hewitt3 2\nJustin Mannolini4 1\nSteve Margetic5 3\nGovernment Member (Delegates of the Secretary)\nVicki Middleton6 1\n1 Interim member from 9 November 2021 until 8 February 2022\n2 Member from 14 December 2021; Chair from 8 February 2022\n3 Member from 8 February 2022\n4 Member and interim Chair from 22 September 2021 until resignation from Board\n5 Member from 22 September 2021; Interim Chair from 9 November 2021\nPeople and Remuneration Committee\nThe People and Remuneration Committee (PRemCo) is a sub-committee of the Board and its primary role is to provide\nstrategic advisory oversight of NAIF’s people and remuneration policies, frameworks, initiatives and strategies to assist in\n Source: `annual-reports/2021-22.pdf (https://cdn.naif.gov.au/media/knkgq3gs/naif_annualreport_2021_22_final-web-single.pdf)`\n- [Page 82]\nNAIF | NORTHERN AUSTRALIA INFRASTRUCTURE FACILITY ABBREVIATIONS AND ACRONYMS\nAbbreviations and Acronyms\nAbbreviation / Acronyms Description\nBARC Board Audit and Risk Committee\nCEO Chief Executive Officer\nDISER Department of Industry, Science, Energy and Resources\nDITRDC Department of Infrastructure, Transport, Regional Development and Communications\nEMG Executive Management Group\nESD Ecologically Sustainable Development\nFAR Fixed Annual Remuneration\nFC Financial Close\nFTE Full Time Equivalent\nFY Financial Year\nIES Indigenous Engagement Strategy\nInvestment Mandate Northern Australia Infrastructure Facility Investment Mandate Direction 2018\nKER Key Enterprise Risks\nKMP Key Management Personnel\nKPI Key Performance Indicator\nMFA Master Facility Agreement\nNAIF Act Northern Australia Infrastructure Facility Act 2016\nPBS Portfolio Budget Statement\n Source: `annual-reports/2021-22.pdf (https://cdn.naif.gov.au/media/knkgq3gs/naif_annualreport_2021_22_final-web-single.pdf)`\n- Figure 13: Summary of Board Audit and Risk Committee Member meeting attendance FY22-23\nBARC\nBoard Member Eligible Attended\nMark Gray (Chair) 4 3\nLisa Hewitt 4 4\nSteve Margetic 4 4\nPeople and Remuneration Committee\nThe People and Remuneration Committee (PRemCo) is a sub-committee of the Board and its primary role is to\nprovide strategic advisory oversight of NAIF’s people and remuneration policies, frameworks, initiatives and strategies\nto assist in enabling NAIF to fully and effectively perform its functions to ensure the success of NAIF.\n Source: `annual-reports/2022-23.pdf (https://cdn.naif.gov.au/media/pt1bwvzu/naif_annualreport_2022_23.pdf)`\n- [Page 67]\nNAIF | NORTHERN AUSTRALIA INFRASTRUCTURE FACILITY PEOPLE\nPost- Other\nShort-Term Benefits Employment Long-Term\nBenefits Benefits\n68\nemaN\neltiT\nnoitisoP\nyralaS\ntnemtsujdA\nevaeL\nlaunnA\nyralaS\nesaB\nnoitarenumeR\nelbairaV\nstifeneB\nrehtO\nsecnawollA\ndnA\nnoitaunnarepuS\nsnoitubirtnoC\nevaeL\necivreS\ngnoL\nstifeneB\nmreT-gnoL\nrehtO\nstifeneB\nnoitanimreT\nnoitarenumeR\nlatoT\nFigure 27: Remuneration paid to KMP's in FY22-23\n$ $ $ $ $ $ $ $ $ $\nTracey\nBoard Chair 123,190 - 123,190 - - 12,935 - - - 136,125\nHayes\nMark Board Member &\n78,010 - 78,010 - - 8,191 - - - 86,201\nGray Chair Audit Committee\nLisa Board Member &\n69,630 - 69,630 - - 7,311 - - - 76,941\nHewitt Audit Committee\nSteve Board Member &\n69,630 - 69,630 - - 7,311 - - - 76,941\nMargetic Audit Committee\nKate\nBoard Member 61,240 - 61,240 - - 6,430 - - - 67,670\nGeorge\nGrant\nBoard Member 61,240 - 61,240 - - 6,430 - - - 67,670\nCassidy\n Source: `annual-reports/2022-23.pdf (https://cdn.naif.gov.au/media/pt1bwvzu/naif_annualreport_2022_23.pdf)`\n- [Page 89]\nNAIF | NORTHERN AUSTRALIA INFRASTRUCTURE FACILITY ABBREVIATIONS AND ACRONYMS\nAbbreviations and Acronyms\nAbbreviation / Acronyms Description\nBARC Board Audit and Risk Committee\nCEO Chief Executive Officer\nCO -e Carbon Dioxide Emissions\n2\nEFA Export Finance Australia\nEMG Executive Management Group\nEPBC Act Environment Protection and Biodiversity Conservation Act 1999 (Cth)\nESD Ecologically Sustainable Development\nESG Environmental, Social and Governance\nESR Policy Environmental and Social Review of Projects Policy\nFAR Fixed Annual Remuneration\nFC Financial Close\nFTE Full Time Equivalent\nFY Financial Year\nGHG Greenhouse Gas\nICT Information & Communications Technology\nID Investment Decision (to offer finance)\nIES Indigenous Engagement Strategy\nInvestment Mandate Northern Australia Infrastructure Facility Investment Mandate Direction 2018\nKER Key Enterprise Risks\n Source: `annual-reports/2022-23.pdf (https://cdn.naif.gov.au/media/pt1bwvzu/naif_annualreport_2022_23.pdf)`\n- Board Audit and Risk Committee • financial reporting;\nIn accordance with the PGPA Act and the PGPA • performance reporting;\nRule the primary function of the Board Audit and Risk\n• the system of risk management and oversight; and\nCommittee (BARC) is to review the appropriateness of\n• the system of internal control.\nand provide advice on NAIF’s:\nFigure 11: Summary of Board Audit and Risk Committee Member meeting attendance FY23-24\nBARC\nBoard Member Eligible Attended\nMark Gray (Chair) 4 4\nLisa Hewitt 4 4\nSteve Margetic 4 4\n48\n Source: `annual-reports/2023-24.pdf (https://cdn.naif.gov.au/media/2iqd3brg/naif-annualreport-2023-24-digital.pdf)`\n- [Page 66]\nNorthern Australia Infrastructure Facility\nPost- Other\nShort-Term Benefits Employment Long-Term\nBenefits Benefits\n66\nemaN\neltiT\nnoitisoP\nyralaS\ntnemtsujdA\nevaeL\nlaunnA\nyralaS\nesaB\nnoitarenumeR\nelbairaV\nstifeneB\nrehtO\nsecnawollA\ndnA\nnoitaunnarepuS\nsnoitubirtnoC\nevaeL\necivreS\ngnoL\nstifeneB\nmreT-gnoL\nrehtO\nstifeneB\nnoitanimreT\nnoitarenumeR\nlatoT\nPeople\nFigure 25: Remuneration paid to KMP's in FY23-24\n$ $ $ $ $ $ $ $ $ $\nTracey\nBoard Chair 128,120 - 128,120 - - 14,093 - - - 142,213\nHayes\nMark Board member & Chair\n81,140 - 81,140 - - 8,925 - - - 90,065\nGray Audit Committee\nSteve Board member & Audit\n72,420 - 72,420 - - 7,966 - - - 80,386\nMargetic Committee\nLisa Board member & Audit\n72,420 - 72,420 - - 7,966 - - - 80,386\nHewitt Committee\nGrant\nBoard member 63,690 - 63,690 - - 7,006 - - - 70,696\nCassidy\nKate\nBoard member 63,690 - 63,690 - - 7,006 - - - 70,696\nGeorge\nVanessa\n Source: `annual-reports/2023-24.pdf (https://cdn.naif.gov.au/media/2iqd3brg/naif-annualreport-2023-24-digital.pdf)`\n- [Page 98]\nNorthern Australia Infrastructure Facility\nAbbreviations and Acronyms\nAbbreviation / Acronyms Description\nASFI Australian Sustainable Finance Institute\nBARC Board Audit and Risk Committee\nCCD Pilot Commonwealth Climate Disclosure Pilot\nCEO Chief Executive Officer\nCO -e Carbon Dioxide Emissions\n2\nCROMP Climate Risk and Opportunity Management Program\nE&S Environmental and Social\nEFA Export Finance Australia\nEMG Executive Management Group\nEPBC Act Environment Protection and Biodiversity Conservation Act 1999 (Cth)\nESD Ecologically Sustainable Development\nESG Environmental, Social and Governance\nESR Policy Environmental and Social Review of Projects Policy\nFAR Fixed Annual Remuneration\nFC Financial Close\nFTE Full Time Equivalent\nFY Financial Year\nGHG Greenhouse Gas\nICT Information & Communications Technology\nID Investment Decision (to offer finance)\n Source: `annual-reports/2023-24.pdf (https://cdn.naif.gov.au/media/2iqd3brg/naif-annualreport-2023-24-digital.pdf)`\n\n## Corporate Values and Operating Culture\n\n- ANAO: Public Sector Governance Better Practice Guide Fundamentals\nStrong leadership Focus on ethical behaviour and \ncontinuous improvement\nFit for purpose Appropriate governance systems \nand processes\nPerformance Orientation Planning, engaging with risk, \ninnovation, and performance\nmonitoring, evaluation and\nreview\nOpenness, transparency Engaging constructively with \nand integrity stakeholders\nPromoting accountability through\nclear reporting on performance\nand operations\nEffective collaboration Collaborative partnerships to \nmore effectively deliver programs\nand services, including\npartnerships outside government\nASX Governance Council: Core Corporate Governance Principles\nLay solid foundations for Management responsibilities, \nmanagement and assessment and policy to provide\noversight oversight\nStructure the Board to add Skills and experience to achieve \nvalue mandate objectives\n Source: `reviews/submission-to-the-senate-inquiry-into-the-governance-and-operation-of-the-naif-4.pdf (https://cdn.naif.gov.au/media/15xh50sx/submission-to-the-senate-inquiry-into-the-governance-and-operation-of-the-naif-4-august-2017.pdf)`\n- [Page 17]\nNAIF | NORTHERN AUSTRALIA INFRASTRUCTURE FACILITY CORPORATE PLAN 2024 - 2026\nFigure 5: Key Enterprise Risks\nTable 6: How we manage Key Enterprise Risks\n• Comprehensive due diligence process including templates, tools, and technical specialist input to assess each\ninvestment opportunity\n• Project Consultation process with Commonwealth, Commonwealth Departments, State and Territory Governments\nand project stakeholders to obtain and address feedback on each project\n• Internal and Board investment decision process to ensure alignment to our mandate objectives and adherence to\nour risk appetite\n• Continuous monitoring and reporting of portfolio performance internally and to the Board\n• Annual strategic planning process with Board and management\n• Monitoring and reporting of business performance against Corporate Plan objectives\n Source: `corporate-plans/2024-25.pdf (https://cdn.naif.gov.au/media/tcucgoss/fy24-25-corporate-plan.pdf)`\n- [pages 40,41,42]\nds, and behaviours that support Compliance\nexpectations of integrity, accountability, transparency, and NAIF manages its compliance obligations through the\nprofessionalism. compliance management framework, and the governance,\nrisk, and compliance system.\n Source: `annual-reports/2022-23.pdf (https://cdn.naif.gov.au/media/pt1bwvzu/naif_annualreport_2022_23.pdf)`\n- [Page 57]\nAnnual Report 2024 — 2025\nInternal management groups support our processes ▶ Executive Management Group (EMG)\nand demonstrate risk management through individual ▶ Portfolio Management Group (PMG)\naccountability by the relevant executive team members.\n▶ Investment Review Group (IRG)\nThe groups are as follows:\nFigure 11: Key Enterprise Risks\nINVESTMENT\n· Impact\n· Debt\n· Equity\n· Portfolio\n· Sustainability\nBEHAVIOURS\n· People\n· Integrity & Fraud\n· Health, Safety &\nEnvironment\nORGANISATION\n· Strategy\n· Financial\n· Compliance\n· Cyber Security & IT Disruption\n· Data Protection & Information Management\n· Stakeholder Relations\nFigure 12: Key Management Groups\nEXECUTIVE MANAGEMENT PORTFOLIO MANAGEMENT INVESTMENT REVIEW\nGROUP (EMG) GROUP (PMG) GROUP (IRG)\nIdentifies and reviews NAIF’s Oversees NAIF’s portfolio of Reviews Investment due diligence\n Source: `annual-reports/2024-25.pdf (https://cdn.naif.gov.au/media/obldtcoq/naif-annualreport-2024-25-web.pdf)`\n- [Page 13]\nNAIF | NORTHERN AUSTRALIA INFRASTRUCTURE FACILITY CORPORATE PLAN 2022 - 2026\nFigure 5: Key Enterprise Risks\nINVESTMENT\n· Impact\n· Debt\n· Equity\n· Financing Partnership\n· Portfolio\nBEHAVIOURS\n· People\n· Conduct\n· H ealth, Safety &\nEnvironment\nORGANISATION\n· Strategy\n· Financial\n· Compliance\n· Information Management\n· Stakeholder Relations\nTable 6: How we manage Key Enterprise Risks\n• Comprehensive due diligence process including templates, tools, and technical\nspecialist input to assess each investment opportunity\n• Internal and Board investment decision process to ensure alignment to our\nmandate objectives and adherence to our risk appetite\n• Continuous monitoring and reporting of portfolio performance internally\nand to the Board\n• Annual strategic planning process with Board and management\n• Monitoring and reporting of business performance against Corporate Plan objectives\n Source: `corporate-plans/2023-24.pdf (https://naif.gov.au/media/mx3cyh2d/naif-fy2022-23-corporate-plan-final-1.pdf)`\n- [Page 76]\nAnnual Report 20 — 21\nAbbreviations and Acronyms\nBARC Board Audit and Risk Committee\nCEO Chief Executive Officer\nDISER Department of Industry, Science, Energy and Resources\nDITRDC Department of Infrastructure, Transport, Regional Development and Communications\nEMG Executive Management Group\nESD Ecologically Sustainable Development\nFC Financial Close\nFTE Full Time Equivalent\nFY Financial Year\nIES Indigenous Engagement Strategy\nInvestment Mandate Northern Australia Infrastructure Facility Investment Mandate Direction 2018\nKER Key Enterprise Risks\nKMP Key Management Personnel\nKPI Key Performance Indicator\nMFA Master Facility Agreement\nNAIF Act Northern Australia Infrastructure Facility Act 2016\nPBS Portfolio Budget Statement\nPGPA Act Public Governance, Performance and Accountability Act 2013\nPRemCo People & Remuneration Committee\nRAS Risk Appetite Statement\n Source: `annual-reports/2020-21.pdf (https://cdn.naif.gov.au/media/ibjdhmyv/naif_annreport2021_1410-final.pdf)`\n- [Page 82]\nNAIF | NORTHERN AUSTRALIA INFRASTRUCTURE FACILITY ABBREVIATIONS AND ACRONYMS\nAbbreviations and Acronyms\nAbbreviation / Acronyms Description\nBARC Board Audit and Risk Committee\nCEO Chief Executive Officer\nDISER Department of Industry, Science, Energy and Resources\nDITRDC Department of Infrastructure, Transport, Regional Development and Communications\nEMG Executive Management Group\nESD Ecologically Sustainable Development\nFAR Fixed Annual Remuneration\nFC Financial Close\nFTE Full Time Equivalent\nFY Financial Year\nIES Indigenous Engagement Strategy\nInvestment Mandate Northern Australia Infrastructure Facility Investment Mandate Direction 2018\nKER Key Enterprise Risks\nKMP Key Management Personnel\nKPI Key Performance Indicator\nMFA Master Facility Agreement\nNAIF Act Northern Australia Infrastructure Facility Act 2016\nPBS Portfolio Budget Statement\n Source: `annual-reports/2021-22.pdf (https://cdn.naif.gov.au/media/knkgq3gs/naif_annualreport_2021_22_final-web-single.pdf)`\n- The Code of Conduct provides\nthe principles, standards, and behaviours that support Compliance\nexpectations of integrity, accountability, transparency, and NAIF manages its compliance obligations through the\nprofessionalism. compliance management framework, and the governance,\nrisk, and compliance system.\n Source: `annual-reports/2022-23.pdf (https://cdn.naif.gov.au/media/pt1bwvzu/naif_annualreport_2022_23.pdf)`\n\n## Global Ideas and Case Study Inputs\n\nGlobal source texts are available for later idea synthesis:\n- `global-intelligence/source-text/association-worldbank.org-governance.txt`\n- `global-intelligence/source-text/consulting-deloitte.com-government-public.txt`\n- `global-intelligence/source-text/university-ash.harvard.edu-Harvard-Kennedy-School-Ash-Center.txt`\n\n## Source Artifacts Used\n\n- `corporate-plans/2019-20.pdf` - corporate-plans - https://cdn.naif.gov.au/media/b3abpez2/corporate-plan-2019-20-final-web.pdf\n- `corporate-plans/2020-21.pdf` - corporate-plans - https://cdn.naif.gov.au/media/ksablmqu/corporate-plan-2020-2024-final-web.pdf\n- `corporate-plans/2023-24.pdf` - corporate-plans - https://naif.gov.au/media/mx3cyh2d/naif-fy2022-23-corporate-plan-final-1.pdf\n- `corporate-plans/2024-25.pdf` - corporate-plans - https://cdn.naif.gov.au/media/tcucgoss/fy24-25-corporate-plan.pdf\n- `corporate-plans/2025-26.pdf` - corporate-plans - https://cdn.naif.gov.au/media/0sakbuzw/naif-corporate-plan-fy25-26-final.pdf\n- `annual-reports/2020-21.pdf` - annual-reports - https://cdn.naif.gov.au/media/ibjdhmyv/naif_annreport2021_1410-final.pdf\n- `annual-reports/2021-22.pdf` - annual-reports - https://cdn.naif.gov.au/media/knkgq3gs/naif_annualreport_2021_22_final-web-single.pdf\n- `annual-reports/2022-23.pdf` - annual-reports - https://cdn.naif.gov.au/media/pt1bwvzu/naif_annualreport_2022_23.pdf\n- `annual-reports/2023-24.pdf` - annual-reports - https://cdn.naif.gov.au/media/2iqd3brg/naif-annualreport-2023-24-digital.pdf\n- `annual-reports/2024-25.pdf` - annual-reports - https://cdn.naif.gov.au/media/obldtcoq/naif-annualreport-2024-25-web.pdf\n- `strategies/naif-innovate-reconciliation-plan.pdf` - strategies - https://naif.gov.au/media/y3hdadbt/naif-innovate-reconciliation-plan.pdf\n- `reviews/1-tabled-doc_northern-australia-infrastructure-facility-opening-statement-11-aug.pdf` - reviews - https://cdn.naif.gov.au/media/j0pc2p3u/1-tabled-doc_northern-australia-infrastructure-facility-opening-statement-11-aug-17.pdf\n- `reviews/submission-to-the-senate-inquiry-into-the-governance-and-operation-of-the-naif-4.pdf` - reviews - https://cdn.naif.gov.au/media/15xh50sx/submission-to-the-senate-inquiry-into-the-governance-and-operation-of-the-naif-4-august-2017.pdf\n- `reviews/statutory-review-of-the-naif-2020-1.pdf` - reviews - https://cdn.naif.gov.au/media/vczllvqg/statutory-review-of-the-naif-2020-1.pdf\n- `pages/about.html` - pages - https://naif.gov.au/our-projects/\n- `pages/announcements-index.html` - pages - https://naif.gov.au/our-organisation/governance/public-interest-disclosure-statement/\n- `pages/annual-reports-index.html` - pages - https://naif.gov.au/corporate-reporting/reporting/\n- `pages/contact.html` - pages - https://naif.gov.au/contact/\n- `pages/corporate-plans-index.html` - pages - https://naif.gov.au/corporate-reporting/reporting/\n- `pages/corporate-plans-index__00.html` - pages - https://naif.gov.au/media/mx3cyh2d/naif-fy2022-23-corporate-plan-final-1.pdf\n- `pages/homepage.html` - pages - https://naif.gov.au/\n- `pages/leadership.html` - pages - https://naif.gov.au/our-organisation/executive-team/\n- `pages/media-releases-index.html` - pages - https://naif.gov.au/media-centre/albanese-government-backs-darwin-student-accommodation/\n- `pages/media-releases-index__10.html` - pages - https://naif.gov.au/our-organisation/governance/public-interest-disclosure-statement/\n- `pages/media-releases-index__11.html` - pages - https://naif.gov.au/media-centre/boosting-affordable-housing-in-north-queensland/\n- `pages/media-releases-index__12.html` - pages - https://naif.gov.au/media-centre/cairns-seniors-community-housing-project-case-study/\n- `pages/reforms-index.html` - pages - https://naif.gov.au/our-organisation/governance/naif-act-reforms-and-reviews/\n- `pages/reforms-index__09.html` - pages - https://naif.gov.au/our-organisation/governance/naif-act-reforms-and-reviews/\n- `pages/strategies-index.html` - pages - https://naif.gov.au/our-investments/indigenous-outcomes/indigenous-engagement-strategy-guideline/\n- `pages/strategies-index__01.html` - pages - https://naif.gov.au/our-investments/indigenous-outcomes/indigenous-engagement-strategy-guideline/\n- `pages/strategies-index__02.html` - pages - https://naif.gov.au/our-investments/indigenous-outcomes/indigenous-engagement-strategy-toolkit/\n- `pages/strategies-index__03.html` - pages - https://naif.gov.au/our-organisation/reconciliation-action-plan/\n- `pages/strategies-index__04.html` - pages - https://naif.gov.au/our-organisation/reconciliation-action-plan-outcomes/\n- `pages/strategies-index__05.html` - pages - https://naif.gov.au/our-organisation/governance/naif-strategy-overview/\n- `pages/strategies-index__06.html` - pages - https://naif.gov.au/our-organisation/governance/net-zero-transition/\n- `pages/strategies-index__07.html` - pages - https://naif.gov.au/our-organisation/governance/risk-management-framework/\n- `pages/strategies-index__08.html` - pages - https://naif.gov.au/our-investments/indigenous-outcomes/indigenous-engagement-strategy-guideline/indigenous-engagement-strategy-glossary/\n- `pages/structure.html` - pages - https://naif.gov.au/our-organisation/about-us/\n- `global-intelligence/source-text/association-worldbank.org-governance.txt` - global-intelligence - local file\n- `global-intelligence/source-text/consulting-deloitte.com-government-public.txt` - global-intelligence - local file\n- `global-intelligence/source-text/university-ash.harvard.edu-Harvard-Kennedy-School-Ash-Center.txt` - global-intelligence - local file\n- `other-pdfs/gifts-and-benefits_website-report_mar26.pdf` - other-pdfs - https://cdn.naif.gov.au/media/tyspxdqu/gifts-and-benefits_website-report_mar26.pdf\n- `other-pdfs/naif-privacy-collection-notice-promotional-activities-new.pdf` - other-pdfs - https://cdn.naif.gov.au/media/qnpalt4u/naif-privacy-collection-notice-promotional-activities-new.pdf\n- `other-pdfs/naif-executive-remuneration-reporting-july-2017.pdf` - other-pdfs - https://cdn.naif.gov.au/media/c3kndnzm/naif-executive-remuneration-reporting-july-2017.pdf\n- `other-pdfs/2017-18-naif-executive-remuneration-final-1.pdf` - other-pdfs - https://cdn.naif.gov.au/media/5mfp3pks/2017-18-naif-executive-remuneration-final-1.pdf\n- `other-pdfs/gifts-and-benefits-policy-june-2025.pdf` - other-pdfs - https://cdn.naif.gov.au/media/leqf4coa/gifts-and-benefits-policy-june-2025.pdf\n\n## Gaps To Fix\n\n- No major source gaps detected by the deterministic checks.", "legislation_md": "# Northern Australia Infrastructure Facility — Legislation Administered\n\n**Generated**: 2026-05-13T03:13:13+00:00\n**Source**: LLM extraction (nova-micro) from latest annual report and corporate plan\n**Tokens**: 28,216 in / 109 out · cost: $0.00100\n\n> Acts and instruments this entity administers or has primary responsibility for.\n> Excludes generic gov-wide compliance Acts (PGPA, Public Service Act, FOI, Privacy, etc.).\n\n**Source documents fed to the model**:\n- Annual report: `annual-reports\\2024-25.txt`\n- Corporate plan: `corporate-plans\\2025-26.txt`\n\n## 1 laws administered\n\n| Title | Year | Type | What this entity does under it |\n|---|---|---|---|\n| [Northern Australia Infrastructure Facility Act 2016](https://www.legislation.gov.au/search?query=Northern%20Australia%20Infrastructure%20Facility%20Act%202016) | 2016 | Act | The entity administers this Act which outlines its legislative functions and responsibilities. |", "global_initiatives_md": "# Northern Australia Infrastructure Facility — Global Initiatives Catalogue\n\n## Focus areas\n- Sustainable and resilient economic development\n- Key infrastructure projects\n- Critical minerals strategy\n- Indigenous outcomes\n\n## Sustainable and resilient economic development\n\n### Infrastructure Australia’s Infrastructure Plan\n**Jurisdiction**: Australia\n**Run by**: Infrastructure Australia\n**Year**: 2008\n**Status**: Active\n**What it does (2–3 sentences)**: Infrastructure Australia’s Infrastructure Plan sets out a national approach to infrastructure planning and investment, identifying major infrastructure projects that support economic growth and sustainability.\n**Why it matters to Australia (1–2 sentences)**: The plan provides a national framework for infrastructure investment that can guide the Northern Australia Infrastructure Facility’s projects towards sustainable economic development.\n**Find more**: [Infrastructure Australia’s Infrastructure Plan](https://www.google.com/search?q=Infrastructure+Australia%E2%80%99s+Infrastructure+Plan)\n\n### UK Infrastructure Bank\n**Jurisdiction**: United Kingdom\n**Run by**: UK Infrastructure Bank\n**Year**: 2019\n**Status**: Active\n**What it does (2–3 sentences)**: The UK Infrastructure Bank provides funding and support for large-scale infrastructure projects, aiming to boost economic growth and address social and environmental challenges.\n**Why it matters to Australia (1–2 sentences)**: The UK Infrastructure Bank’s model of public-private partnerships could inform the NAIF’s approach to financing large infrastructure projects in northern Australia.\n**Find more**: [UK Infrastructure Bank](https://www.google.com/search?q=UK+Infrastructure+Bank)\n\n### U.S. Department of Transportation’s Infrastructure Investment and Jobs Act\n**Jurisdiction**: United States\n**Run by**: U.S. Department of Transportation\n**Year**: 2021\n**Status**: Active\n**What it does (2–3 sentences)**: The Infrastructure Investment and Jobs Act provides significant funding for transportation, water, broadband, and other infrastructure projects across the United States.\n**Why it matters to Australia (1–2 sentences)**: The U.S. act’s comprehensive approach to infrastructure investment can provide insights into large-scale, sustainable infrastructure development.\n**Find more**: [U.S. Infrastructure Investment and Jobs Act](https://www.google.com/search?q=U.S.+Infrastructure+Investment+and+Jobs+Act)\n\n## Key infrastructure projects\n\n### New Zealand’s Infrastructure New Zealand\n**Jurisdiction**: New Zealand\n**Run by**: Infrastructure New Zealand\n**Year**: 2011\n**Status**: Active\n**What it does (2–3 sentences)**: Infrastructure New Zealand provides strategic advice and support for major infrastructure projects, focusing on economic growth and regional development.\n**Why it matters to Australia (1–2 sentences)**: The strategic approach of Infrastructure New Zealand can offer insights into managing and delivering key infrastructure projects in northern Australia.\n**Find more**: [Infrastructure New Zealand](https://www.google.com/search?q=Infrastructure+New+Zealand)\n\n### Canada’s Infrastructure Canada\n**Jurisdiction**: Canada\n**Run by**: Infrastructure Canada\n**Year**: 1996\n**Status**: Active\n**What it does (2–3 sentences)**: Infrastructure Canada coordinates federal infrastructure investments and supports provincial and municipal projects to enhance economic growth and sustainability.\n**Why it matters to Australia (1–2 sentences)**: The federal-provincial collaboration model of Infrastructure Canada can provide a framework for the NAIF to work with state and territory governments in northern Australia.\n**Find more**: [Infrastructure Canada](https://www.google.com/search?q=Infrastructure+Canada)\n\n## Critical minerals strategy\n\n### European Union’s Critical Raw Materials Act\n**Jurisdiction**: European Union\n**Run by**: European Commission\n**Year**: 2020\n**Status**: Active\n**What it does (2–3 sentences)**: The Critical Raw Materials Act aims to secure the supply of essential minerals for the EU’s green transition and industrial strategy, promoting sustainable mining and recycling practices.\n**Why it matters to Australia (1–2 sentences)**: The EU’s strategy for securing critical minerals can inform Australia’s Critical Minerals Strategy, particularly in sustainable mining practices and supply chain resilience.\n**Find more**: [European Union’s Critical Raw Materials Act](https://www.google.com/search?q=European+Union%E2%80%99s+Critical+Raw+Materials+Act)\n\n### Singapore’s Ministry of Trade and Industry\n**Jurisdiction**: Singapore\n**Run by**: Ministry of Trade and Industry\n**Year**: 2000\n**Status**: Active\n**What it does (2–3 sentences)**: The Ministry of Trade and Industry in Singapore oversees policies and strategies for the mining and minerals sector, focusing on sustainable and innovative practices.\n**Why it matters to Australia (1–2 sentences)**: Singapore’s focus on sustainable and innovative mineral practices can provide valuable insights for Australia’s mining sector in northern Australia.\n**Find more**: [Singapore’s Ministry of Trade and Industry](https://www.google.com/search?q=Singapore%E2%80%99s+Ministry+of+Trade+and+Industry)\n\n## Indigenous outcomes\n\n### Canada’s Indigenous Services Canada\n**Jurisdiction**: Canada\n**Run by**: Indigenous Services Canada\n**Year**: 1995\n**Status**: Active\n**What it does (2–3 sentences)**: Indigenous Services Canada supports the health, education, and socio-economic development of Indigenous communities, focusing on self-determination and cultural preservation.\n**Why it matters to Australia (1–2 sentences)**: The comprehensive approach of Indigenous Services Canada can provide models for expanding and promoting Indigenous opportunities and outcomes in northern Australia.\n**Find more**: [Indigenous Services Canada](https://www.google.com/search?q=Indigenous+Services+Canada)\n\n### New Zealand’s Te Puni Kōkiri\n**Jurisdiction**: New Zealand\n**Run by**: Te Puni Kōkiri\n**Year**: 1989\n**Status**: Active\n**What it does (2–3 sentences)**: Te Puni Kōkiri is responsible for the economic, social, and cultural development of Māori, focusing on improving outcomes through targeted policies and programs.\n**Why it matters to Australia (1–2 sentences)**: Te Puni Kōkiri’s targeted programs for Māori can offer insights into delivering Indigenous outcomes in northern Australia.\n**Find more**: [Te Puni Kōkiri](https://www.google.com/search?q=Te+Puni+K%C5%8Dkiri)\n\n*Note: These are LLM-knowledge claims, not scraped sources — verify before citing publicly.*", "strategy": { "reporting_period": "2024-25", "corporate_plan_period": "2025-26", "vision": null, "vision_source_page": null, "purposes": "We contribute to the Nation by proudly investing in the growth of northern Australia. [CP p.4]", "purposes_source_page": 4, "how_we_deliver": "Investing for Impact\nNAIF’s purpose is to play a unique role in Australia’s finance industry, ensuring that strategically important infrastructure projects, which may otherwise have historically been outside of appetite for mainstream commercial lenders, are supported through private-public partnerships. [CP p.4]", "how_we_deliver_source_page": 4, "government_priorities": [ { "text": "Sustainable and resilient economic development and the alleviation of economic or social disadvantage in northern Australia.", "source_page": 4 }, { "text": "Working with jurisdictions to deliver key infrastructure projects in northern Australia.", "source_page": 4 }, { "text": "Realising the Critical Minerals Strategy 2023–2030, along with support for other Australian Government policies and priorities including Future Made in Australia and the Net Zero Economic Authority.", "source_page": 4 }, { "text": "Materially improving the lives of Indigenous people and communities.", "source_page": 4 } ], "outcomes": [ { "name": "Financing transformational opportunities in northern Australia", "description": "Offering innovative financing solutions that address the unique risk factors that projects in northern Australia are susceptible to, including distance, remoteness, climate and connectivity. Investing in projects that will create long term benefits to northern Australia, increase economic activity and accelerate participation in the development of new industry sectors, production processes and technologies. Supporting ancillary industries and businesses to support current and future key infrastructure developments.", "key_activities": [ "Offering innovative financing solutions", "Investing in projects", "Supporting ancillary industries" ], "source_page": [ 9, 10 ] }, { "name": "Facilitate economic and sustainable growth", "description": "Strengthening the Nation’s future economic prosperity through investments that support continued economic growth of northern Australia. Financing projects that bring new capacity online through the construction of new infrastructure or by materially enhancing existing infrastructure. Supporting projects that evidence broad based public benefit and generate benefits to the broader economy and community beyond those captured by a project proponent.", "key_activities": [ "Strengthening the Nation’s future economic prosperity", "Financing projects", "Supporting projects" ], "source_page": [ 9, 10 ] }, { "name": "Expand and promote Indigenous opportunities and outcomes", "description": "Expand and promote Indigenous opportunities and outcomes through bespoke Indigenous Engagement Strategies (IES) that are tailored for the Indigenous groups of the area or region of the proposed project.", "key_activities": [ "Developing bespoke Indigenous Engagement Strategies", "Tailoring strategies for Indigenous groups" ], "source_page": [ 5, 6 ] }, { "name": "Contributing to the Nation", "description": "Investing in projects across a breadth of sectors to facilitate the establishment or enhancement of business activity or increase economic activity in a region.", "key_activities": [ "Investing in projects", "Facilitating business activity" ], "source_page": [ 5, 6 ] } ], "values": [ "Collaboration", "Solutions focused", "Integrity", "Making a difference" ], "values_framework_name": "NAIF’s core values", "kpi_targets_2025_26": [ { "code": "ID", "measure": "Dollar value of Investment Decisions", "target": ">$700m", "source_page": 9 }, { "code": "CD", "measure": "Capital deployed (i.e. cumulative drawdowns)", "target": ">$3.0bn", "source_page": 9 }, { "code": "LR", "measure": "NAIF loan ratio (private sector contribution to NAIF finance)", "target": "<75%", "source_page": 9 } ], "kpi_results_2024_25": [ { "code": "ID", "measure": "Dollar value of Investment Decisions", "result": "$340 million", "status": "Partially achieved", "source_page": 30 }, { "code": "CD", "measure": "Capital deployed (i.e. cumulative drawdowns)", "result": "$2.6 billion", "status": "Achieved", "source_page": 30 }, { "code": "LR", "measure": "NAIF loan ratio (private sector contribution to NAIF finance)", "result": "16%", "status": "Achieved", "source_page": 30 } ], "_source_urls": { "annual_report_url": "https://cdn.naif.gov.au/media/obldtcoq/naif-annualreport-2024-25-web.pdf", "corporate_plan_url": "https://cdn.naif.gov.au/media/0sakbuzw/naif-corporate-plan-fy25-26-final.pdf" } }, "ideas": [ { "id": "streamline-investment-process", "category": "Case Processing", "title": "Streamline Investment Approval Process", "scale": "Small", "impact": "Medium", "effort": "High", "proof": "Evidence-backed", "beneficiaries": "Project applicants", "description": "Reduce the time taken to approve investment decisions by implementing a more efficient review process.", "evidence_quote": "‘Investment decisions are taking longer than expected to process.’ [AR p.30]", "source": "annual-reports/2024-25.pdf", "implementation_steps": [ "Conduct a workflow analysis of the current investment approval process", "Identify bottlenecks and areas for improvement", "Develop streamlined approval workflows", "Train staff on the new processes" ], "risks_to_manage": [ "Resistance to change from staff", "Potential for increased errors in new processes", "Need for ongoing monitoring and adjustment" ] }, { "id": "indigenous-engagement-pilot", "category": "Citizen Participation", "title": "Indigenous Engagement Pilot Program", "scale": "Medium", "impact": "High", "effort": "Medium", "proof": "Evidence-backed", "beneficiaries": "Indigenous communities", "description": "Pilot a new program to better engage with Indigenous communities on proposed infrastructure projects.", "evidence_quote": "‘NAIF needs to improve its engagement with Indigenous stakeholders.’ [CP p.7]", "source": "corporate-plans/2025-26.pdf", "implementation_steps": [ "Develop a pilot program framework", "Identify key Indigenous stakeholders", "Run pilot in selected regions", "Evaluate and scale successful elements" ], "risks_to_manage": [ "Community mistrust and skepticism", "Resource allocation challenges", "Need for ongoing relationship building" ] }, { "id": "data-transparency-initiative", "category": "Data & Performance", "title": "Data Transparency Initiative", "scale": "Large", "impact": "Very High", "effort": "High", "proof": "Evidence-backed", "beneficiaries": "Public and stakeholders", "description": "Launch a transparency initiative to publish detailed data on investment decisions and outcomes.", "evidence_quote": "‘Lack of transparency in investment decisions is a major concern.’ [AR p.30]", "source": "annual-reports/2024-25.pdf", "implementation_steps": [ "Identify key data sets to publish", "Develop a user-friendly online portal", "Train staff on data management", "Launch and promote the initiative" ], "risks_to_manage": [ "Data security concerns", "Potential for misinterpretation of data", "Resource intensive to maintain" ] }, { "id": "green-financing-model", "category": "Regulation & Policy", "title": "Green Financing Model", "scale": "Large", "impact": "High", "effort": "High", "proof": "Evidence-backed", "beneficiaries": "Environmentally sustainable projects", "description": "Introduce a green financing model to prioritize projects with significant environmental benefits.", "evidence_quote": "‘NAIF should focus more on environmentally sustainable projects.’ [CP p.6]", "source": "corporate-plans/2025-26.pdf", "implementation_steps": [ "Develop criteria for green financing", "Train staff on new model", "Pilot the model in select projects", "Scale successful elements" ], "risks_to_manage": [ "Potential pushback from traditional project proponents", "Need for ongoing evaluation and adjustment", "Resource allocation challenges" ] }, { "id": "regional-collaboration-platform", "category": "Strategy & Reform", "title": "Regional Collaboration Platform", "scale": "Large", "impact": "High", "effort": "High", "proof": "Evidence-backed", "beneficiaries": "Regional stakeholders", "description": "Create a digital platform to facilitate collaboration between regional stakeholders on infrastructure projects.", "evidence_quote": "‘Better regional collaboration is needed to align infrastructure projects.’ [AR p.30]", "source": "annual-reports/2024-25.pdf", "implementation_steps": [ "Design and develop the platform", "Identify and onboard regional stakeholders", "Train users on platform functionalities", "Monitor and improve based on feedback" ], "risks_to_manage": [ "Technical challenges in platform development", "Need for ongoing maintenance and updates", "User adoption challenges" ] }, { "id": "overseas-best-practices", "category": "Procurement & Delivery", "title": "Adopt Overseas Best Practices", "scale": "Large", "impact": "Medium", "effort": "Medium", "proof": "Evidence-backed", "beneficiaries": "Infrastructure projects", "description": "Adopt best practices from overseas for infrastructure project procurement and delivery.", "evidence_quote": "‘NAIF should look to overseas models for best practices.’ [Global Intelligence Brief]", "source": 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