Remuneration

The group’s remuneration committee operates in accordance with formal terms of reference approved by the board. The committee is mandated by the board to oversee the establishment and implementation of a group-wide remuneration policy.

This policy is founded on the principle of fair, responsible and transparent remuneration practices, and seeks to:

– remunerate all employees in such a way so as not only to attract and retain talented, high-performing individuals, but also to motivate all employee to contribute continuously to the success of the group;

– promote the strategic objectives within the group’s risk appetite in the short, medium and long terms;

– promote positive outcomes; and

– promote an ethical culture and responsible corporate
citizenship.