CONTENTS FINANCIAL STATEMENTS YEAR IN REVIEW DIRECTORS’ REPORT CORPORATE DIRECTORY SHAREHOLDER INFORMATION The second segment of LTIs comprises share options with appropriate market based performance hurdles. For the annual cycle commencing on 1 July 2022 and ending 30 June 2025, the Board determined that the following performance hurdles shall apply: – Superior performance of Compound Annual Growth Rate (CAGR) calculated in respect of the Company’s share price less the percentage CAGR calculated in respect of the S&P/ASX 300 Materials Index, calculated for the period commencing between 1 July 2022 and ending on 30 June 2025. How does the Company consider industry benchmarks when granting LTIs? In the case of the current financial year, remuneration consultants engaged by the Company considered a range of ASX listed resource peer companies by market capitalisation and sector similarity. The benchmark comparator group for the year ended 30 June 2023 is described below: ASX Companies – Comparator Group Hastings Technology Metals Limited Catalyst Metals Limited Strandline Resources Limited Bougainville Copper Limited Andromeda Metals Limited Musgrave Minerals Limited Base Resources Limited Nova Minerals Limited Prospect Resources Limited Green Technology Metals Limited Queensland Pacific Metals Limited Ten Sixty Four Limited Poseidon Nickel Limited Jindalee Resources Limited Arizona Lithium Limited Cokal Limited Northern Minerals Limited AIC Mines Limited EcoGraf Limited Sunstone Metals Limited VHM Limited Element 25 Limited Red Hill Iron Limited Dreadnought Resources Limited Vital Metals Limited Morella Corporation Limited Image Resources NL Red Dirt Metals Limited European Metals Holdings Limited Anson Resources Limited Cobalt Blue Holdings Limited Hot Chili Limited Lithium Power International Limited Euro Manganese Inc. Black Rock Mining Limited Capral Limited Ionic Rare Earths Limited Tulla Resources Plc Morella Corporation Limited Australian Vanadium Limited Anson Resources Limited Latrobe Magnesium Limited Euro Manganese Inc. Altech Chemicals Limited Australian Vanadium Limited Peel Mining Limited Ardea Resources Limited Was a LTI grant made during the year ended 30 June 2023? No LTI performance rights were granted to employees during the year. The triennium cycle ends on 30 June 2024 and the next grant of LTI performance rights is scheduled in the 2025 financial year. For the year ended 30 June 2023, share options outlined above aligned with CAGR share price performance have been granted to Senior Executives. 421,271 share options were granted to employees during the year. Did any LTI performance rights vest in the reporting period? No. 135,455 STI performance rights vested in favour of Senior Executives with no LTI performance right vesting events having occurred. The next LTI performance right and share option vesting event is subject to testing on or before 30 June 2024. 25 Sheffield Resources Limited Annual Report 2023
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