APPENDIX A PERFORMANCE MULTIPLIER. The Performance Multiplier will be based on the following metrics and weightings. The number of PUs to vest on the PUs Vesting Date will be determined based on the Performance Multiplier and scorecard, calculated as follows: Metric Weighting Description Threshold Below Threshold Threshold Met Target Target Met Stretch Max (Stretch outcome) Gold Production (oz) over 3 years 50% Gold Production (oz) over 3 years at Blanket 42.5% Aggregate vs. guidance gold production 225 000 (Blanket – 75 000 per year) Below Threshold 0% (no PU’s vest) 50% of PUs vest 240 000 (Blanket – 80 000 per year) 100% of PUs vest 260 000 (Blanket 86 667 per year) 150% of PUs vest if stretch or more is achieved Gold Production (oz) over 3 years at Bilboes 7.5% Aggregate vs. guidance gold production annually Lower End of Annual Bilboes Guidance Below Threshold 0% (no PU’s vest) 50% of PUs vest Mid Point of annual Bilboes Guidance 100% of PUs vest Upper End of Annual Bilboes Guidance 150% of PUs vest if stretch or more is achieved Cost Per Ounce 50% On mine costs at Blanket and Bilboes plus other on mine costs plus head office “G&A” Other costs include: ►procurement margins paid to SA and Dubai ►the profit arising in solar co for electricity sales to Blanket 50% Controllable Cost per ounce of gold produced vs. budgeted number for each Financial Year. Averaged over the 3-year vesting period. 105% of Target Below Threshold 0% (no PU’s vest) 50% of PUs vest x for 2023 (1/3 2023; 1/3 2024; 1/3 2025) 100% of PUs vest 95% of target 150% of PUs vest if stretch or more is achieved
APPENDIX A PERFORMANCE MULTIPLIER. The Performance Multiplier will be based on the following metrics and weightings. The number of PUs to vest on the PUs Vesting Date will be determined based on the Performance Multiplier and scorecard, calculated as follows: Metric Weighting Description Threshold Below Threshold Threshold Met Target Target Met Stretch Max (Stretch outcome) Gold production (oz) at Blanket 40% Aggregate vs. guidance gold production Lower end of production guidance. Below threshold 0% (no PU’s vest). 50% of PUs vest Production at target guidance. 100% of PUs vest Upper end of production guidance. 150% of PUs vest if stretch or more is achieved Blanket resource development 20% Resource addition at Blanket within current infrastructure Maintain resource endowment (measured and indicated) after depletions Below threshold 0% (no PU’s vest) 50% of PUs vest 5% per annum increase in M&I after depletions 100% of PUs vest 10% per annum increase in M&I after depletions 150% of PUs vest if stretch or more is achieved Bilboes 20% Financing and construction of Bilboes sulphide project Financed and operational by end of Q1 2028 Below threshold 0% (no PU’s vest) 50% of PUs vest Financed and operational by end 2027 100% of PUs vest Financed and operational by mid 2027 150% of PUs vest if stretch or more is achieved Blue sky exploration 20% E.g. exploration below 1,200m; Blanket BIF, Motapa and elsewhere. All subject to funds being made available Zero Below threshold 0% (no PU’s vest) 50% of PUs vest 0.5m ounces (MI and I) each year 100% of PUs vest 1m ounces (MI and I) each year 150% of PUs vest if stretch or more is achieved
APPENDIX A PERFORMANCE MULTIPLIER. The Performance Multiplier will be calculated based on gold production performance for the year ending December 31, 2022 in accordance with the following targets based on the applicable Life of Mine Plan: Gold ounces produced
APPENDIX A PERFORMANCE MULTIPLIER. The Performance Multiplier will be calculated based on gold production performance for the years ending December 31, 2021, 2022 and 2023 in accordance with the following targets based on the applicable Life of Mine Plan: Gold ounces produced Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Year end 2021 4,961 5,092 5,184 5,308 5,353 5,166 6,055 5,527 5,936 5,728 5,139 6,111 65,560 2022 6,790 6,886 6,886 6,757 6,757 6,757 6,757 6,757 6,757 6,757 6,419 6,082 80,363 2023 6,516 6,581 6,581 6,291 6,614 6,800 7,122 7,388 7,030 6,456 6,312 6,312 80,003 The number of PUs to vest on the PUs Vesting Date will be determined based on the Performance Multiplier, calculated as follows: Performance Measure(1) Guideline Weight(2) Below 70% of Target Met 70% of Target Met Target Met Maximum – 200% of Target Gold Production 100% No PUs vest 70% PUs vest 100% PUs vest 200% PUs vest Notes:
APPENDIX A PERFORMANCE MULTIPLIER. The Performance Multiplier will be based on the following metrics and weightings. The number of PUs to vest on the PUs Vesting Date will be determined based on the Performance Multiplier and scorecard, calculated as follows: Metric Weighting Description Threshold Below Threshold Threshold Met Target Target Met Stretch Max (Stretch outcome) Gold Production (oz) over 3 years 50% Aggregate vs. guidance gold production 220,000 Below Threshold 0% (no PU’s vest) 50% of PUs vest 240,000 (aggregate total for 3 years) 100% of PUs vest 264,000 150% of PUs vest if stretch or more is achieved Average Normalised Controllable Cost / Oz* ($/oz ) 50% Average Normalised Controllable Cost per ounce of gold produced vs. budgeted number for each Financial Year. Averaged over the 3-year vesting period. 105% of Target Below Threshold 0% (no PU’s vest) 50% of PUs vest 816 for 2022 (1/3 2022; 1/3 2023; 1/3 2024) 100% of PUs vest 95% of target 150% of PUs vest if stretch or more is achieved * Average Normalised Controllable Cost definition: AISC as reported in financial statements less (Royalty Costs + Share Based Payment Expenses + Foreign Exchange Gains and Losses + Hedging gains and losses including hedging premiums/costs + Fair Value gains and losses on derivative assets) less any other items that the Compensation Committee deems to be extraordinary in a year in question.
APPENDIX A PERFORMANCE MULTIPLIER. The Performance Multiplier will be calculated based on an agreed gold production performance measure for the quarter ending December 31, 2021. The number of PUs to vest on the PUs Vesting Date will be determined based on the Performance Multiplier, calculated as follows: Performance Measure(1) Guideline Weight(2) Below 70% of Target Met 70% of Target Met Target Met Maximum – 200% of Target Gold Production 100% No PUs vest 70% PUs vest 100% PUs vest 200% PUs vest Notes:
