Salient features

Remuneration landscape and eligibility Total cost to company per union agreement TCC = Base salary + medical insurance + retirement fund + benefits 2 positions 7 positions 55 positions 221 positions 2 580 positions 2 865 positions (includes permanent and temporary SA em ployees, excludes UK , AME and Ass ociates) Employment category Variable pay structure Executive directors Exco Senior management Middle management Other employees Bargaining unit employees 50% STI pool for executive management. 100% 13th cheques for bargaining unit employees. 100% discretionary bonus pool allocation for admin employees’ bonus. 4.5% annual increase for bargaining unit employees. R4 million Payroll savings due to salary cuts in July 2021 level 4 hard lockdown. 28 retrenchments 4% Non–executive directors fee increase No malus or clawback provisions triggered in 2022. STI and LTI Discretionary bonus 13 th cheque as per wage agreement

Minimum shareholding requirement

^ Maximum LTI is depicted at the Famous Brands annual award quanta (One third of target holding multiple). LTI on target is depicted as 50% of the maximum. Maximum and on target have no COVID-19 modification. Actual 2022 values are earnings in the reporting period.
* The previous Group Financial Director resigned on 30 November 2021. The new Group Financial Director commenced service on 1 August 2021, hence his compensation is not reported here. Compensation details are in the implementation report.

STI (CEO and Group Financial Director)

Refer to detailed scorecard across all roles in Remuneration policy.

In 2022:

  • STI | R12.1 million to executives, R29.5 million to administration employees and R8 million to bargaining unit employees.
  • LTI | 81 586 of LTI retention shares vested to 34 participants, totalling R5.6 million.
TCC: Total cost to company = Base salary + medical insurance + retirement fund + benefits  Base salary = TCC – medical insurance – retirement fund – benefits STI: Short-term incentive LTI: Long-term incentive 13th cheque: One month’s TCC SARs: Share appreciation rights  Executive directors: The CEO and the Group Financial Director.  Executive Committee (excluding the executive directors) is referred to as Exco.  Executive management team includes the executive directors and Exco