47 Westgold Resources Limited Annual Report 2024 Absolute Total Shareholder Return (ATSR) (25%) The ATSR Rights will vest subject to the performance of the Company’s TSR over the performance period. The ATSR will be measured by comparing the 30 day VWAP at grant dated (1 July 2023) to the 30 day VWAP at the measurement date (30 June 2026). The vesting schedule for the ATSR measure is as follows: ATSR % 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% Absolute Earnings Per Share (AEPS) (25%) The AEPS Rights will vest subject to the annual growth rate of the Company’s EPS over the performance period. The AEPS will be measured by comparing the EPS (excluding any non-recurring items) at the grant date (1 July 2023) to the EPS (excluding any non-recurring items) at vesting date (30 June 2026). 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 (25%) Ore Reserves Growth Rights will be measured based on the Reserve Statement as reported at the end of the FY24 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? The measurement date is 30 June 2026. 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 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 Rights based on performance over the period up to the date of cessation of employment; or – Unless the Board determines otherwise. What happens if there is a change of control? If a matter, event, circumstance or transaction occurs that the Board reasonably believes may lead to a change of control, the Board may in its discretion determine the treatment and timing of any unvested Rights. If a change of control occurs and the Board hasn’t made such a decision, all unvested rights will vest. Are executives eligible for dividends? Executives are not eligible to receive dividends on unvested rights.
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