for the year ended 30 June 2024 FINANCIAL REPORT REMUNERATION REPORT (AUDITED) 46 Westgold Resources Limited Annual Report 2024 5.3 Long Term Incentive (LTI) arrangements Under the LTI plan, annual grants of performance rights are made to executives to align remuneration with the creation of shareholder value over a three-year performance period. How is it paid? Delivered in the form of Performance Rights (Rights), being a conditional right issued to receive a share in the Company subject to performance. How much can executives earn? The LTI opportunity is expressed as a percentage of individual executive fixed remuneration: – MD: up to 150% (FY23: 80%) – Other executives: up to 80% (FY23: 80%) The number of Rights granted is determined based on individual fixed remuneration, applicable LTI opportunity and a 5-day volume weighted average price (VWAP) up to 30 June 2023. How is performance measured? FY24 Performance Rights will vest and become exercisable three years after the grant subject to the following performance conditions: – Growth in Relative Total Shareholder Return (25%) – Growth in Absolute Total Shareholder Return (25%) – Growth in Absolute Earnings Per Share (25%) – Ore Reserve Growth (25%) A service condition also applies which requires executives to remain employed with the Company over the three-year period from 1 July 2023 to 30 June 2026. Relative Total Shareholder Return (RTSR) (25%) The Relative TSR Rights are measured against a defined peer group of companies over the performance period (1 July 2023 to 30 June 2026) which the Board considers comparable to Westgold. The comparator group of companies for FY24 Rights comprises of: Bellevue Gold Limited Red 5 Limited Gold Road Resources Limited Regis Resources Limited Ramelius Resources Limited Resolute Mining Limited Genesis Minerals Limited The vesting schedule for the RTSR measure is as follows: RTSR % of Rights to Vest Below 50th percentile 0% At 50th percentile 50% Above 50th percentile and below 75th percentile Pro-rata from 50% to 100% 75th percentile and above 100%
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