Remuneration Report 2019

Remuneration report continued The CSPs awarded during 2019, expressed as a percentage of CTC are reflected below: CSP as a % of CTC (expected value) CSP as a % of CTC (face value) Executive directors BL Berson 93 170 DE Cleasby 90 163 Vested during 2019 No CSPs vested to the executive directors during the period July 1 2018 to June 30 2019, although a portion of Mr Joffe’s 2016 award was settled during the year as detailed below. Outstanding LTIs and likely vesting outcomes 2017 awards The Bidvest CSP awards made on December 11 2015 were exchanged for CSP replacement rights over Bidcorp shares and the number of shares comprising the replacement rights were adjusted so that the market value is the same as that of the Bidvest CSP’s pre- unbundling. The vesting period for the CSP replacement rights was extended for an additional year and are subject to performance conditions measured over the period July 1 2016 to June 30 2019, vesting of 75% of the awards occured in September 2019 and the remaining 25% will vest in September 2020. The Bidcorp CSPs awarded on December 1 2016 are subject to performance conditions measured over the period July 1 2016 to June 30 2019, vesting of 75% of the awards occured in September 2019 and the remaining 25% will vest in September 2020. 2018 awards The Bidcorp CSPs awarded on November 7 2017 are subject to performance conditions measured over the period July 1 2017 to June 30 2020, vesting of 75% of the awards will occur in September 2020 and the remaining 25% will vest in September 2021. 2019 awards The Bidcorp CSPs awarded on December 7 2018 are subject to performance conditions measured over the period July 1 2018 to June 30 2021, vesting of 75% of the awards will occur in September 2021 and the remaining 25% will vest in September 2022. As at June 30 2019, the vesting of the 2017 CSP replacement rights and 2017 CSPs is tabulated below and the vesting for the 2018 and 2019 CSPs is estimated to be achieved as follows, however, the actual vesting for the 2018 and 2019 awards may differ from these estimates. The calculation of HEPS and ROFE was based on the results from continuing operations. 2016 replacement rights and 2017 CSPs Criteria Threshold 30% Target 60% Stretch 100% Actual/ estimated Weighting Actual/ estimated HEPS R11,63 R12,50 R13,60 R14,18 50% 50,0% ROFE 32,5% 35,0% 37,5% 47,5% 20% 20,0% TSR 80% 100% 120% 101,9% 20% 12,8% KPIs Achieve Achieve target 10% 8,0% Total actual vesting % 90,8% 2018 CSPs HEPS R12,72 R13,67 R14,88 R14,17 50% 38,6% ROFE 32,5% 35,0% 37,5% 34,3% 20% 10,3% TSR 80% 100% 120% 84,7% 20% 7,4% KPIs Achieve Achieve target 10% 6,0% Total expected vesting % 62,3% 9 / Bid Corporation Limited Remuneration report 2019