AUB Group Limited Annual Report 2023

DIRECTORS’ REPORT YEAR ENDED 30 JUNE 2023

SECTION 5 NON-EXECUTIVE DIRECTOR REMUNERATION

Details of the Non-Executive Directors of AUB Group during the Reporting Period are provided in the Directors’ Report.

Components and details of Non-Executive Director remuneration Non-Executive Directors receive a fixed fee (inclusive of superannuation) for services to the Board and each Board Committee on which the Director serves. A further fee is payable to Non-Executive Directors who are directors of Tysers Insurance Brokers Limited, which is a wholly owned subsidiary of AUB Group. Non-Executive Director fees for the reporting period are shown in Table 7. Non-Executive Directors do not receive retirement benefits other than amounts paid by way of the superannuation guarantee, nor do they participate in any incentive programs, but they may be reimbursed for expenses reasonably incurred in the course of carrying out their duties. AUB Group does not make sign-on payments to new Non-Executive Directors and does not provide for retirement allowances for Non-Executive Directors. Aggregate fee cap approved by shareholders Non-Executive Directors’ fees are set by the Board within the maximum aggregate amount of $1,500,000 per annum approved by shareholders at the Annual General Meeting in November 2022. Table 7: Non-Executive Director fees payable during the Reporting Period 1 July 2022 to 30 June 2023

Board fees per annum

$ Amount (incl. of statutory superannuation)

Chair

240,000

Non-Executive Director

120,000

Committee Chair (Board Audit & Risk)

Additional 25,000

Committee Chair (Remuneration & People)

Additional 15,000

Committee Chair (Nomination)

N/A

Subsidiary Boards (excluding Tysers)

Additional 10,000

Committee member

N/A

Tysers Insurance Brokers Limited: Chair

GBP 100,000

Tysers Insurance Brokers Limited: Non-Executive Director

GBP 50,000

Non-Executive Directors Minimum Shareholding Policy Non-Executive Directors are encouraged to hold AUB shares and the Board has endorsed a minimum shareholding policy for Non-Executive Directors to hold 100% of the annual director (or Board Chair) base fee within five years, commencing on the later of 1 July 2023 or the date of their appointment. The value of shares for determining compliance is the higher of cost or market value. Our Non-Executive Director minimum shareholding policy is intended to align the interests of Non-Executive Directors with our shareholders. The Non-Executive Directors do not participate in any of our performance-based incentive schemes and have to acquire shares out of their own funds.

AUB GROUP ANNUAL REPORT 2023

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