39 Westgold Resources Limited Annual Report 2023 How is performance measured? Absolute Earnings Per Share (AEPS) Performance Condition The AEPS Performance Rights (30% of total Rights) will vest subject to the annual growth rate of the Company’s EPS over the service period. The AEPS will be measured by comparing the EPS (excluding any non-recurring items) at the grant date to the EPS (excluding any non-recurring items) at vesting date (30 June 2025). The vesting schedule for the AEPS measure is as follows: AEPS Performance % Contribution to the Number of Rights to Vest Below 15% 0% Between 15% and up to 25% Pro-rata from 50% to 75% Between 25% and up to 50% Pro-rata from 75% to 100% Greater than 50% 100% Ore Reserve Growth Performance Conditions The Ore Reserve Growth Performance Rights (10% of total Rights) will be measured based on the Reserve Statement as reported at the end of the FY2023 financial year under JORC guidelines. Ore Reserve Performance % Contribution to the Number of Rights to Vest Negative Growth 0% Depletion Replaced 50% Between depletion replaced and 10% increase Pro-rata from 50% to 100% Depletion replaced and 10% increase or greater 100% When is performance measured? Tranche 6 The measurement date is 31 March 2025. What happens if an executive leaves? Where executives cease to be an employee of the Group: – due to resignation or termination for cause, then any unvested Performance Rights will automatically lapse on the date of the cessation of employment; or – due to redundancy, ill health, death or other circumstances approved by the Board, the executive will generally be entitled to a pro-rata number of unvested Performance Rights based on achievement of the performance measures over the performance period up to the date of cessation of employment; – unless the Board determines otherwise.
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