Our journey We have made several enhancements to our remuneration approach to align with business objectives while navigating an evolving video entertainment industry and challenging macro-economic environment. • Introduced malus and clawback provisions • Lowered share scheme cap • Increased Minimum Shareholding Requirement (MSR) for key executive management • Enhanced retrospective disclosure on performance targets • Increased weighting of Performance Share Unit (PSU) vs Restricted Share Unit (RSU) • Increased vesting period Shareholder concern/request Disclosure of executive director’s personal performance objectives Inclusion of actual performance targets with percentage achieved Targets do not appear to be suf ciently stretching Clarity around mechanics of core HEPS target Nigeria cash extraction targets are not linked to or capped at a speci c foreign exchange rate Option for executives to pledge STI/LTI awards towards MSR 1 Background FY20 Phuthuma Nathi Investments (RF) Limited Integrated annual report 2023 100 Remuneration report continued Corporate governance review
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