CONTENTS FINANCIAL STATEMENTS YEAR IN REVIEW DIRECTORS’ REPORT CORPORATE DIRECTORY SHAREHOLDER INFORMATION – ensure cash preservation measures were set in place across the Company; – maintain a Long Term Incentive scheme designed to create alignment with the Kimberley Mineral Sands objectives and maximise overall shareholder value; – ensure effective benchmarking of fixed and variable remuneration for Senior Executive KMPs for a clearly defined peer group of similar companies to ensure remuneration is fair and competitive; and – retain total remuneration at or approximately the 66th percentile of market. SECTION 3: 2024 FINANCIAL YEAR REMUNERATION SUMMARY The summary table below provides an overview of the 2024 financial year remuneration outcomes per element. Where adjustments have been made, these have been further specified. Total Fixed Annual Remuneration (TFR) No changes occurred during the year During the year under review, the TFR applicable to the Executive Chair and Chief Financial Officer was reviewed by the Remuneration Committee. No changes have been proposed by the Remuneration Committee. See Section 8: Statutory Remuneration Disclosure Tables, for further detail. Short Term Incentive (STI) outcomes Average Senior Executive KMP outcome of 17% of maximum awarded The 2024 financial year corporate performance measures include the following: – Production – Customer Shipment – Per Tonne Unit Operating Costs – Progress – South Atlantic Project The above performance measures are further qualified by the following factors: – Health, Safety, Environmental and Governance objectives being met. – Satisfactory individual performance by the Senior Executive KMP; and – The Senior Executive KMP needing to be employed during the entire period Assessment of these measures resulted in an average 17% STI outcome, relative to the STI targets set. See Section 5: 2024 Financial Year Senior Executive KMP Remuneration, for further detail. Long Term Incentive (LTI) outcomes Grant of Performance Rights: None Grant of Share Options: 465,515 No LTI performance rights were granted to Senior Executive KMPs during the year. The triennium cycle ended on 30 June 2024. The next grant of LTI performance rights is scheduled in the 2025 Financial Year. For the year ended 30 June 2024, 465,515 share options were granted to Senior Executive KMPs during the year. See Section 5: 2024 Financial Year Senior Executive KMP Remuneration, for further detail. Non-Executive Director (NED) fees No changes During the 2024 financial year, there was a review undertaken of the NED fee structure (including the related policy on base and committee fees). It was determined that no change to the NED fee pool is required at this time. See Section 7: Non-Executive Directors Remuneration, for further detail. Other Changes to Senior Executive KMP Remuneration No changes No other changes to Senior Executive KMP remuneration were made during the 2024 financial year. 25 Sheffield Resources Limited Annual Report 2024
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