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Australian Securities Exchange

A discussion on company’s corporate governance statement. This statement sets out the key corporate governance principles adopted by the Directors in governing David Jones and reflects the corporate governance policies and procedures which applied during the year ended 28 July 2012. The corporate governance statement of David Jones is very specific and coherent. It provides the information very clearly and shows the detail that how their behaviors applies the Australian Securities Exchange requirement.

Based on their corporate governance statement, it is very clear that the Board has a good performance in corporate governance across the company. Firstly, the structure of board and directors is good. For example. the majority of the board are independent directors. Directors come from different backgrounds with complementary skills and experience; they also do not have conflicts of interest with the company. Secondly, David Jones has a good performance on the control of risks.

David Jones’ approach to risk oversight, risk management and internal control has been developed and is consistent with recognized industry reference material and guidelines. Thirdly, the remuneration is fair and responsible. The Remuneration and Nominations Committee helps the Board to decide the suitable remuneration of Directors and executives regarding to their performance. Based on

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the corporate governance statement, it is also very clear that David Jones applies the ASX(Australia Securities Exchange) principle and recommendation about corporate governance very well.

The checklist(Page 24 of the David Jones 2102 Annual Report) at the end of the corporate governance statement demonstrate the details of how David Jones followed the ASX Recommendations in the reporting period very clearly. To conclude, David Jones have a good performance on corporate governance which means that the company practices in stakeholders’ best interests as well as complies with relevant ASX requirements.. As a result of this, David Jones can protect and enhance shareholders’ interest. Therefore, David Jones is a safe and profitable investment choice in respect of the corporate governance statement.

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