AUB Group Limited Annual Report 2023

DIRECTORS’ REPORT YEAR ENDED 30 JUNE 2023

REMUNERATION & PEOPLE COMMITTEE CHAIR’S LETTER (CONTINUED) Alignment between performance and remuneration outcomes AUB Group’s remuneration strategy and framework is based on a ‘pay for performance’ philosophy which supports sustainable value for our shareholders. Group Executives received on average 146% of their STI target award (compared to the maximum target STI opportunity of 150%), supported by Underlying NPAT increasing by 74.42% to $129.11m from FY22. This strong Underlying NPAT growth was driven by both underlying organic growth, pleasingly across all operating businesses, and acquisition driven growth. To further align the interests of Group Executives with shareholders, 30% of STI outcomes are deferred in the form of PSRs that vest over 12 and 24 months. This Remuneration Report discloses the outcome of the FY21 LTI grant (performance period ending 30 June 2023). Based on sustained long-term performance over this performance period, 100% (in total) of LTI PSRs will vest following testing against the TSR and EPS performance measures. This was driven by strong EPS growth, combined with high relative TSR performance resulting in AUB Group significantly outperforming its Peer Comparator Group. Group Executive remuneration framework review As part of the annual remuneration review cycle, and following the recent international expansion of AUB’s business, the Board undertook a review of the Group Executive remuneration framework to ensure competitiveness across its global markets, alignment to strategic priorities and effectiveness in retaining and attracting the leadership and talent it needs to drive business strategy and financial performance in the interests of shareholders, The changes to CEO remuneration are set out in this report. We invite you to read the Remuneration Report and welcome your feedback.

Paul Lahiff Chair of Remuneration & People Committee

AUB GROUP ANNUAL REPORT 2023

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