Remuneration Report 2019

Remuneration report continued 6. Total remuneration outcomes Summary of directors’ long-term incentives 2019 R’000 Share- based payment expense Benefit arising from exercise of awards Gross benefit Previous share- based payment expense LTI benefit 2018 BL Berson 18 061 — 18 061 — 18 061 12 831 DE Cleasby 6 910 — 6 910 — 6 910 4 865 B Joffe 8 753 24 514 33 267 (18 636) 14 631 10 149 Total 33 724 24 514 58 238 (18 636) 39 602 27 845 The summary of directors long-term incentives (LTI) is designed to reflect the LTI benefits accruing to directors over the term of the vesting period rather than only when the vesting occurs. In the year that a benefit arises from an award, the previous IFRS 2 share-based payment charges which have been expensed in prior years in the relation to that benefit are deducted from the benefit. Single figure of remuneration 2019 The actual total pay outcomes for the 12 months ending June 30 2019 are depicted below for the executive directors, comprising salary, benefits, a cash incentive for 2019 and the actual LTI benefits: R’000 Basic remune- ration Other benefits and costs Retirement/ medical benefits Cash incentive 1 LTI reflected Total single figure of remune- ration Executive directors BL Berson 15 700 259 253 16 919 18 061 51 192 DE Cleasby 5 873 193 469 6 913 6 910 20 358 1 Cash incentive linked to the 2019 financial year. 2018 The actual total pay outcomes for the 12 months ending June 30 2018 are depicted below for the executive directors, comprising salary, benefits, a cash incentive for 2018 and the actual LTI benefits: R’000 Basic remune- ration Other benefits and costs Retirement/ medical benefits Cash incentive 1 LTI reflected Total single figure of remune- ration Executive directors BL Berson 14 847 253 249 16 240 12 831 44 420 DE Cleasby 5 457 193 441 6 642 4 865 17 598 1 Cash incentive linked to the 2018 financial year. Compliance with remuneration policy There were no deviations from the remuneration policy published in 2018, although the remuneration committee applied its discretion within the policy framework to provide a 10% discretionary uplift to the STI to reflect better than expected outcomes of the disposal process of the discontinued operations and determined that the results from continuing operations should be used as the basis for the STI and LTI measurement. Non-binding advisory vote Shareholders are requested to cast an advisory vote on the remuneration policy as included in this report on pages 6 to 11 Part 3: Remuneration implementation report. 11 / Bid Corporation Limited Remuneration report 2019