46 | CITY DEVELOPMENTS LIMITED The 2025 remuneration packages for the Executive Chairman, Group CEO and the other ExCo members (who are not Directors) comprised the following components: Total Remuneration Fixed Compensation: (i) Base salary This is benchmarked to market to ensure that the remuneration commensurate with the position and responsibilities of the Executive Chairman and the ExCo members. (ii) Annual Wage Supplement (“AWS”), fixed allowances and benefits-in-kind This is aligned with market practices and not linked directly to performance. Fixed allowances and benefits-in-kind are also linked to the position and responsibilities of the Executive Chairman and ExCo members. Variable Compensation: Variable compensation is linked to performance and comprises Short and Long-Term Incentives. In determining the variable compensation, the NRC considers the achievement of the Group, business units and individual performance based on key performance indicators (involving financial and non-financial indicators) which are determined annually. (i) Short-term incentive (“STI”) The short-term incentive plans aim to incentivise short-term performance excellence. This is in the form of cash-based annual variable bonus. The Group CEO and other KMP are assessed using a balanced scorecard with pre-agreed focus areas and targets established at the beginning of each financial year. The scorecard consists of following dimensions: Dimension Focus Areas Financial Growth (Total Revenue) & Profitability (PATMI & EBITDA) Capital/Fund Management & Divestments – AUM & Divestment targets Non-Financial Customer Experience & Brand related metrics Build and maintain engaged team Sustainability initiatives linked to Net Zero Carbon roadmap Enterprise risk & compliance performance (ii) Long-term incentive (“LTI”) The LTI, in the form of cash awards, has a three-year performance period, and aligns Management’s interest with Company’s stakeholders. LTI payments are not guaranteed and are subject to Management achieving the performance conditions based on Board approved Performance Conditions. The awards are settled in cash and vested at the end of the performance period. The final Award will depend on the achievement against the pre-determined targets for the following performance measures over a three-year performance period: Performance measures Vesting Level 1. Absolute Total Shareholder return 2. Earnings per share (EPS) 3. Return on Average Capital Employed (ROACE) 4. Reduction in Greenhouse gas emissions 0% to 200% of initial grant depending on achievement factor Being a cash-based award, the LTI is not dilutive to current shareholders. Claw-back provisions are included within the LTI plan which would give the right to the Company to reclaim incentive components from the EDs and KMPs in exceptional circumstances such as misstatement of financial results or misconduct resulting in financial loss to the Group. CORPORATE GOVERNANCE
RkJQdWJsaXNoZXIy ODIwNTc=