for the year ended 30 June 2022 FINANCIAL REPORT REMUNERATION REPORT (AUDITED) 38 Westgold Resources Limited Annual Report 2022 6. PERFORMANCE AND EXECUTIVE REMUNERATION OUTCOMES Remuneration earned by executives in 2022 The actual remuneration earned by executives in the year ended 30 June 2022 is set out in the Table on page 40. This provides shareholders with a view of the remuneration paid to executives for performance in FY2021 year. Use of board discretion over remuneration outcomes During the year the Remuneration and Nomination Committee – Considered the appropriateness of awarding STI in relation to performance outcomes and market conditions; – Reviewed the personal KPIs for all senior executives in line with the short term incentive arrangements; and – Determined the appropriate total remuneration packages for new appointments of senior executives to ensure alignment to the market and the Company’s stated objectives. STI performance and outcomes A combination of financial and non-financial measures was used to measure performance for STI rewards. As a result of the Group’s performance against those measures STIs rewarded for the FY2022 as disclosed in the Table on page 34, were paid in August 2022. LTI performance and outcomes Performance Rights were granted in FY2021 (Tranche 4) and FY2022 (Tranche 5). All LTI’s are subject to performance hurdles. – Tranche 4 has a three-year vesting period ending in June 2023. – Tranche 5 has a three-year vesting period ending in June 2024. The Managing Director WC Bramwell was granted 202,435 Tranche 5 LTI’s in October 2021. Senior Executives were granted a total 697,172 Tranche 5 LTI’s in October 2021. For further details of Performance Rights granted, cancelled, lapsed and vested refer to Table 3 below. Overview of Company performance The table below sets out information about Westgold’s earnings and movements in shareholder wealth for the past six years up to and including the current financial year. 30 June 173 30 June 183 30 June 193 30 June 20 30 June 21 30 June 22 Closing share price $1.84 $1.85 $1.88 $2.09 $1.88 $1.19 Profit (loss) per share (cents) 5.18 (0.34) 3.74 8.65 18.16 (25.32) Net tangible assets per share1 $0.98 $1.12 $1.14 $1.24 $1.43 $1.24 Dividend paid per shares (cents)2 – – – – 2 – 1. Net tangible assets per share include right of use assets and lease liabilities. 2. FY21 cash dividend of 2 cents per share declared on 30 August 2021 and paid on 15 October 2021. 3. The comparatives have not been adjusted for changes due to the adoption of AASB 15, AASB 16 and AASB 9. Securities Trading Policy TheWestgold Securities Trading Policy applies to all employees and directors. The policy prohibits employees from dealing inWestgold securities while in possession price sensitive information regarding the Company that is not generally available.
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