AUB Group Limited Annual Report 2023

DIRECTORS’ REPORT YEAR ENDED 30 JUNE 2023

SECTION 3 REMUNERATION OUTCOMES AND ALIGNMENT TO PERFORMANCE (CONTINUED)

LTI Outcomes 2021 LTI grant outcomes 100% of the total 2021 LTI grant will vest: – 100% of the Relative TSR component will vest given that AUB Group’s TSR was 141.09%, which resulted in AUB’s percentile rank at 95.09% over the performance period; – 100% of the EPS component will vest given that AUB Group’s actual EPS AAGR across the performance period was 22.74%; and – 164,436 PSRs will vest on 31 August 2023.

Table 5 below discloses the outcomes of the 2021 LTI grant. All unvested PSRs after testing will lapse.

1 July 2020 to 30 June 2023

Actual outcome

Total shareholder return (TSR) outcomes – 40% of total PSR grant* (65,775 PSRs) TSR of AUB Group Limited

141.09% 95.09%

Percentile Rank

Number of TSR PSRs vesting percentage under the 2021 LTI plan

100%

100% vesting of TSR PSRs where AUB Group’s TSR ranking relative to Peer Comparator Group exceeds 75% percentile.

Earnings Per Share (EPS) outcomes – 60% of total PSR grant* (98,661 PSRs) 1 July 2020 to 30 June 2023 Minimum entry target for vesting Straight line for vesting Maximum threshold target for vesting

Actual 3-year AAGR achieved (%)

Actual vesting outcome

5% AAGR

5%-10% AAGR

10% AAGR

22.74%

N/A

EPS vesting percentage (of the 60%)

50%

50%-100%

100%

N/A

100.00%

Total percentage of EPS PSRs vesting under the 2021 LTI Plan

100%

* The vesting conditions in Table 5 apply to the 2021 LTI Plan. Results of the 3 year testing of the CEO’s 200,000 PSRs sign on grant. A sign-on bonus of 200,000 PSRs was granted to the CEO and Managing Director that vest over five years. In the previous year, one third of the PSRs were tested over the three year performance period from 1 July 2019 to 30 June 2022. The TSR and EPS hurdles for the sign-on PSR grant were the same as the hurdles for the FY20 grants. Based on the TSR and EPS outcomes (refer to the remuneration report included in the 2022 Annual Report), all 66,667 PSRs (both TSR PSRs and EPS PSRs) satisfied the performance hurdles and will therefore remain on foot and vest at the end of the 5 year period ended 30 June 2024, subject to the CEO’s employment conditions. The remaining balance of 133,333 PSRs (TSR and EPS) will be tested after the completion of the 5 year period ended 30 June 2024. Any unvested PSRs at that time will lapse.

AUB GROUP ANNUAL REPORT 2023

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