Details • Growth to be measured over a three-year rolling average based on year end results, on the vesting date in year three, and excludes Showmax and Moment. • Growth to be measured after year three based on Showmax FY23 revenue. • Conversion ratio is calculated using the formula below and measured on the vesting date in year three: Free cash ow (pre-tax)/trading pro t on a three-year cumulative rolling basis (excluding KingMakers and Moment). • Measured based on the extraction of net cash (naira margin) generated in the year. • The TSR measure is based on share price growth and dividend yield. • Measured based on three-year compound annual growth rate on the vesting date in year three. • Measured relative to the following comparator group: Vodacom, MTN, Telkom, Shoprite, Clicks, Bidvest, Discovery, Mr Price, TFG. Eligibility On target and stretch outcomes Malus and clawback Executives, senior management, and employees with scarce and critical skills are eligible to participate. Executive director awards are split between the following LTI performance plans: PSU PPS & Showmax CEO 75% 25% CFO 75% 25% The annual LTI awards are capped at percentages as set out in the table below: LTI maximum as a % of salary CEO 215% CFO 185% Rest of executive committee and select executives 165% Malus and clawback provisions are applicable to the MultiChoice executive committee. Refer to page 114 for more detail. Overview Introduction Understanding Phuthuma Nathi Understanding MultiChoice SA MultiChoice SA performance Financial review Corporate governance review Shareholder information Phuthuma Nathi Investments (RF) Limited Integrated annual report 2023 109
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