LTI MultiChoice RSUs and PSUs Performance measures The group performance measures for PSU awards and weightings are set out as follows: Weight Threshold (50% vesting) Target (75% vesting) Stretch (100% vesting) Core HEPS growth 25% 8% 10% 12% Investment growth 15% Grow FY23 revenues by a multiple of 4x Grow FY23 revenues by a multiple of 6x Grow FY23 revenues by a multiple of 7x Free cash ow conversion ratio 15% 78% 82% 86% Nigeria cash extraction 10% 70% 75% 80% Total shareholder return 20% Median of comparator group Average of Median and Upper Quartile of comparator group Upper Quartile of comparator group ESG 15% Based on a blend of external agency ratings and company speci c measures (on the following page) Purpose and description Calculation An award of MultiChoice Group shares registered to the participants subject to an employment condition (continued tenure). For the executive committee, and key senior management employees, achievement of performance conditions applies. • RSUs vest over four years in two equal tranches in years three and four. RSUs with performance conditions (PSUs) vest 100% after three years • Executives’ awards are 100% PSUs • Quantum of PSU vesting is dependent on the achievement of performance conditions. Settlement of the awards takes place on the respective vesting date of the awards and at the Remco’s discretion • Dividends are not payable on unvested shares 2 The remuneration policy continued Corporate governance review Phuthuma Nathi Investments (RF) Limited Integrated annual report 2023 108 Remuneration report continued
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