Management Processes 
Remuneration linked to strategy

Remuneration overview

Remuneration mix (elements)		Employee categories
		Management and executives			Collective bargaining categories
		Executive management	Senior management	Middle management	A, B and C band
		F band	E band	D band
Guaranteed remuneration	Basic salary	Increase based on: Performance External market Internal equity Affordability Collective bargaining considerations			Increase based on: Wage negotiations External market Affordability
	Benefits	Retirement fund: employer and employee contributions Medical funding: employer and employee contributions Housing: company accommodation and accommodation allowances
	Allowances	Area specific Job specific
Variable remuneration	Short-term incentives (STI)	Annual STI Strategic business targets Volume, value, quality, cost, capital and cash flow Safety, health, environment and community Individual performance		Monthly and quarterly STI Business unit targets Production team targets Safety targets
	Long-term incentives (LTI)	Not applicable		CSP no performance targets	Not applicable
		Conditional Share Plan (CSP) – performance targets			Not applicable
		Share Appreciation Rights		Not applicable	Not applicable
		Not applicable			Employee Share Ownership Plan

Management remuneration

Management and executive employees are remunerated on a guaranteed package basis. These packages and increases to or adjustments thereof are based on the following principles:

• Remuneration is based on individual performance. This is measured through our performance management system where key performance indicators (KPIs) are contracted and assessed.
• External competitiveness is benchmarked in accordance with our remuneration strategy against the 50th percentile of the market for most employees and against the 75th percentile of the market for high level performers, HDSA employees and critical skills.
• Internal equity is achieved through internal benchmarks taking into account variation due to circumstantial allowances and performance.
• Affordability is determined prior to recommendation to the remuneration committee of the board for approval.

Total remuneration is informed by the strategic elements listed below:

	Key performance indicators	Chief executive   officer   (%)	Financial   director   (%)	Senior   executives   (%)	Other executives (%)
	Vision and strategy Sustainability Leadership and people Stakeholder engagement	35.0	45.0	59.0	64.0
	Operational excellence	14.0	7.5	5.6	6.4
	Safety, health, environment and community	19.0	12.5	9.8	9.7
	Individual projects	7.0	10.0	4.8	3.2
	Total shareholder return	20.0	20.0	16.7	13.3
	EBITDA	5.0	5.0	4.2	3.3
		100.0	100.0	100.0	100.0