ESR Group Limited Annual Report 2023 77 SHORT-TERM INCENTIVES (“STI”) Elements Purpose To reward the achievement of annual targets aligned to the delivery of sustainable outcomes. Maximum opportunity Percentage of variable pay of KMPs’ total remuneration package is up to 35%. Performance measures Measurable Targets (70% component) • Performance of the Company and Group (e.g., profit after tax and minority interest, earnings, earnings before interest, taxation, depreciation, and amortisation) • Performance of the funds, investment vehicles and public REITs managed by the Group • Organisational/business units’ goals Qualitative Targets (30% component) • ESG targets/metrics (e.g., Buildings' Energy Efficiencies and Renewable Capacity Installed) • Other attributes such as demonstration of the Group’s core values (i.e., Entrepreneurial, Excellence, Inclusion, and Sustainability) Performance assessment The Board adopts a robust approach to determining executive remuneration outcomes, using judgement and oversight to consider a range of financial and non-financial targets. At the start of the year, the key performance indicators for the KMPs are discussed and agreed to ensure that such indicators are specific, measurable, result-oriented and time bound. The Remuneration Committee proposes the recommended STI award, for approval from the Board. The Remuneration Committee's recommendation is determined through a review of the Company’s performance and the contributions by the Directors during the fiscal year, and in consultation with an independent remuneration consultant where required. Delivery Cash Leaver provisions On termination for cause or due to gross negligence, all STI awards are forfeited. STRATEGIC REPORTS CORPORATE GOVERNANCE FINANCIAL STATEMENTS
RkJQdWJsaXNoZXIy MTIwODcxMw==