AUB Group Limited Annual Report 2023

DIRECTORS’ REPORT YEAR ENDED 30 JUNE 2023

SECTION 3 REMUNERATION OUTCOMES AND ALIGNMENT TO PERFORMANCE (CONTINUED)

Remuneration outcomes The remainder of this section of the Remuneration Report discloses the outcome of awards made under:

– the FY23 STI award (performance period 1 July 2022 – 30 June 2023); and – the FY21 LTI grant (performance period 1 July 2020 – 30 June 2023).

FY23 STI Outcomes FY23 continued a run of strong performance for the Group and therefore the Board considered STI for FY23 and has provided for an accrual of $5.96m for all Group STI participants (including deferred components of STI granted in prior periods). Table 3: Group STI accrual outcome

($’m)

2023

2022

2021

2020

2019

Cash bonuses

5.96

4.74

4.01

3.57

0.88

Table 4: FY23 CEO Balanced Scorecard

FY23 Balanced Scorecard

Performance Category and Weighting

Achieved (% of max)

Measures

Financial (70%)

Business profitability and financial performance: – % Growth in Group UNPAT; – % Growth in Tysers UNPAT; – Network growth, including value of M&A transactions (excl. Tysers); – % NZ Profit Growth; and – % Profit Growth in Agencies. – Board Assessment of Network, Customer and Team progress; – Number of business optimisations (consolidations, simplifications and equity restructuring); and – Continued uplift in effectiveness of risk management and compliance processes and reporting. – Number of alternative Premium Funding Arrangements; – Successful completion of Tysers integration activities, including incentive schemes to retain key brokers; and – Scaling of IT platforms, including Lola development.

100%

Network Partners and Customers (16.67%)

90%

Other (13.33%)

93.33%

STI Scorecard outcome

97.44%

This resulted in an STI award of $1,096,250 of which 70% will be paid in cash with the balance allocated to PSRs and will vest over 12 and 24 months. See section 2 of this report for further details.

AUB GROUP ANNUAL REPORT 2023

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