Remuneration report

This report sets out the remuneration of NEXT's directors for the year to January 2013 and is in three parts: (1) overview of the year, (2) remuneration strategy, and (3) regulatory disclosures under Schedule 8 to the Large and Medium-sized Companies and Group (Accounts and Reports) Regulations 2008, the UK Listing Rules and the UK Corporate Governance Code. The Board confirms that the Company has complied with these regulations throughout the year. We have also included some of the new disclosures proposed by the Department for Business Innovation & Skills (BIS), notably a table showing a single total figure for remuneration and a summary of the Company's remuneration policy in tabular format.