Picton Property Income Limited Annual Report 2022

Remuneration Report continued

Summary of Directors’ Remuneration Policy

Principles The objective of the Group’s Remuneration Policy is to have a simple and transparent remuneration structure aligned with the Group’s strategy. The Group aims to provide a remuneration package which will retain Directors who possess the skills and experience necessary to manage the Group and maximise shareholder value on a long-term basis. The Remuneration Policy aims to incentivise Directors by rewarding performance through enhanced shareholder value. A summary of the Directors’ Remuneration Policy approved by shareholders at the 2021 Annual General Meeting is set out below. The full Policy is contained in our 2021 Annual Report which is available on our website at www.picton.co.uk. Executive Directors’ Remuneration Policy Table

Base salary Purpose Operation

A base salary to attract and retain Executives of appropriate quality to deliver the Group’s strategy. Base salaries are normally reviewed annually with changes effective on 1 April. When setting base salaries the Committee will consider relevant market data, as well as the scope of the role and the individual’s skills and experience. No absolute maximum has been set for Executive Director base salaries. Any annual increase in salaries is set at the discretion of the Remuneration Committee taking into account the factors stated in this table and the following principles: – Salaries would typically be increased at a rate consistent with the average employee salary increase. – Larger increases may be considered appropriate in certain circumstances (including, but not limited to, a change in an individual’s responsibilities or in the scale of their role or in the size and complexity of the Group). – Larger increases may also be considered appropriate if a Director has been initially appointed to the Board at a lower than typical salary.

Maximum

Performance measures None Clawback None Pension Purpose

Part of competitive remuneration package.

Operation

The Company has established defined contribution pension arrangements for all employees. For Executive Directors the Company pays a monthly salary supplement in lieu of Company pension contributions. A consistent rate of pension provision (15% of base salary) applies to all employees including Executive Directors.

Maximum

Performance measures None Clawback None

Picton Property Income Limited Annual Report 2022