Picton Property Income Limited Annual Report 2021

The single figure of remuneration for the Directors for the year 2020/21 (in £ thousands) is:

Chief Executive

FinanceDirector

Non-ExecutiveDirectors

9

290

122

208

250

198

170

846

250

557

2

2

38

26

359

348

237

556

Key:

Total variable

Annual bonus

Long- t er m Incentive Plan

Total fi xed

Salary

Benefit s

Pension

The potential remuneration of the Executive Directors for the year to 31 March 2022 is: The following charts show the composition of the Executive Directors’ remuneration at three performance levels: Chief Executive

Finance Director

£333K

£227K

100%

100%

– Fixed pay – this comprises base salary from 1 April 2021, benefits and pension salary supplement of 15% of base salary – On target – this is fixed pay plus target vesting for the annual bonus (at 50% of maximum opportunity for illustrative purposes) and threshold vesting for the LTIP (at 25% of maximum award) – Maximum – Fixed pay plus maximum vesting for both the annual bonus (165% of base salary) and the LTIP (125% (Chief Executive) and 110% (Finance Director) of base salary) – Maximumwith share price growth – maximum scenario incorporating assumption of 50% share price growth during LTIP vesting period

£33 K

£333K £660K

£227K

£227K £442K

10 %

100%

10 %

100%

50% 36% 14%

52% 36% 12%

£6 0K

£660K

£4 2K

£442K

50% 36% 14% 50% 36% 14%

52% 36% 12% 52% 36% 12%

£1,166K

£765K

28% 41%

31%

30% 42%

28%

£1,16 K

£1,166K

£765K

£765K

28% 41%

28% 41%

31%

31%

30% 42%

30% 42%

28%

28%

25% 35%

27% 13% £1,346K

26% 37%

25% 12% £873K

25% 35%

25% 35%

27% 13% £1,346K 27% 13% £1,346K

26% 37%

26% 37%

25% 12% £873K 25% 12% £873K

Key:

Key:

Key:

Total fi xed

Annual bonus

LTIP

Share growth

Other than where stated, the charts do not incorporate share price growth or dividend equivalent awards.

Total fi xed

Total fi xed

An ual bonus

Annual bonus

LTIP

LTIP

Share growth

Share growth

Remuneration in context

Percentage change in remuneration The table below shows the percentage change in total remuneration for each of the Directors between the years ended 31 March 2020 and 31 March 2021 compared to the average remuneration of the employees of the Group. Change from previous year Base salary Benefits Annual bonus Michael Morris 0% 0.6% 14.4% Andrew Dewhirst 0% 0.8% 8.6% Nicholas Thompson 0% – – Mark Batten 0% – – Maria Bentley 0% – – Roger Lewis 0% – – Average of all other employees 4.6% 8.1% 15.4% The table above excludes those Non-Executive Directors who joined during the year ended 31 March 2021.

Relative importance of spend on pay The table below shows the expenditure and percentage change in staff costs compared to other key financial indicators. 31 March 2021 £000 31 March 2020 £000

% change

3,219

Employee costs

3,273 (1.6)% 19,039 (21.2)% 19,912 0.8%

15,002 20,072

Dividends

EPRA earnings

85

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