Picton Property Income Limited Annual Report 2023

Remuneration Report/Continued

Remuneration at a glance

The components of remuneration for 2022/23 are:

Fixed pay

Variable pay

The annual bonus for 2022/23 is determined by:

8%

6%

30%

4%

Annual (and deferred) bonus Up to 60% of the

6%

4%

annual bonus is deferred into shares which will vest in two years’ time

4%

Base salary

8%

30%

The LTIP is based on three financial metrics, each measured over three years:

Personal and corporate objectives

Benefits

Improve income and occupancy Make progress against net zero carbon pathway Improve portfolio environmental factors Improve level of net property income and operational expenses Implementation of TCFD recommendations Positive stakeholder engagement Identify and evaluate growth opportunities

33%

33%

Long-term Incentive Plan (LTIP)

Pension contributions

Financial conditions Total return

Total property return Growth in EPRA earnings per share Total shareholder return

33%

Read more on pages 115–121

110

Picton Property Income Limited Annual Report 2023

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