Illustration of potential remuneration outcomes

The charts on this page illustrate the potential future value and composition of the Executive Directors’ total remuneration opportunities under four performance scenarios (“Minimum”, “On-target”, “Maximum” and “Maximum +50% share price appreciation between award and vest”). The remuneration opportunities are based on those set out in the Policy table, applied to 2023 base salaries. The majority of the Executive Directors’ remuneration is delivered through variable pay elements, which are conditional on the achievement of stretching performance targets.

For simplicity, the charts exclude dividend accrual, and exclude the effect of any Company share price movement except in the “Maximum +50%” scenario.