CHAPTER 14:People

14.5 DIRECTORS' AND PRESCRIBED OFFICERS' REMUNERATION

14.5.1 Remuneration policy

The remuneration committee has a defined mandate from the board of directors aimed at:

Ensuring that the chairman, directors and senior executives are fairly rewarded for their individual contributions to the group's overall performance
Ensuring that the remuneration strategies and packages, including the incentive schemes, are related to performance, are suitably competitive and give due regard to the interests of the shareholders and the financial and commercial health of the group.

14.5.2 Summary of remuneration

	NCOE/guaranteed remuneration plus circumstantial			Short term incentives	Long term incentives
2022	Basic salary R	Benefits and allowances¹ R	Retirement fund contributions R	Performance bonuses² R	Gains on management share schemes R
Executive directors
MDM Mgojo⁷	4 243 282	172 857	404 151	4 047 137	56 866 749
Dr N Tsengwa	6 724 009	261 271	562 520	7 866 142	7 715 608
PA Koppeschaar	5 651 855	190 830	476 590	5 307 320	10 272 043
Total executive directors' remuneration	16 619 146	624 958	1 443 261	17 220 599	74 854 400
Prescribed officers
V Balgobind⁸	3 006 820	111 975	243 738		4 474 598
H Bhola⁹	2 214 142	130 034	210 588	1 414 817	2 024 471
AS De Angelis	3 136 377	71 341	227 210	1 765 318	1 433 425
L Groenewald¹⁰	3 210 129	229 515	312 735	2 301 752	4 148 534
PK Masia¹¹	4 018 803		336 207	3 494 746
JG Meyer	3 801 032	336 323	378 638	3 070 151	2 361 193
MI Mthenjane	3 837 510	98 234	321 040	2 834 229	4 006 111
AT Ndoni	2 446 471	51 445	177 231	1 484 294
R Tatnall¹²	3 466 249	959 176		4 586 396
M Veti	3 833 931		364 647	2 845 857	4 390 385
Total prescribed officers' remuneration	32 971 464	1 988 043	2 572 034	23 797 560	22 838 717

	Other
2022	Exit payment paid³ R	Recognition⁴ R	Other⁵ R	Total remuneration R	Share-based payment expense⁶ R	Gains on management share schemes R	Total remuneration expense R
Executive directors
MDM Mgojo⁷	8 424 684	6 260	225 220	74 390 340	3 860 458	(56 866 749)	21 384 049
Dr N Tsengwa		6 260		23 135 810	6 919 965	(7 715 608)	22 340 167
PA Koppeschaar		6 260		21 904 898	5 227 294	(10 272 043)	16 860 149
Total executive directors' remuneration	8 424 684	18 780	225 220	119 431 048	16 007 717	(74 854 400)	60 584 365
Prescribed officers
V Balgobind⁸	1 238 828	6 260	279 121	9 361 340	(1 389 985)	(4 474 598)	3 496 757
H Bhola⁹		57 860		6 051 912	1 130 190	(2 024 471)	5 157 631
AS De Angelis		6 260		6 639 931	1 898 044	(1 433 425)	7 104 550
L Groenewald¹⁰		6 260	13 966	10 222 891	2 237 496	(4 148 534)	8 311 853
PK Masia¹¹				7 849 756	1 749 882		9 599 638
JG Meyer		6 260		9 953 597	2 657 050	(2 361 193)	10 249 454
MI Mthenjane		6 260	99 417	11 202 801	2 394 111	(4 006 111)	9 590 801
AT Ndoni			722 290	4 881 731	687 842		5 569 573
R Tatnall¹²	9 000 000		160 650	18 172 471			18 172 471
M Veti		6 260		11 441 080	2 540 937	(4 390 385)	9 591 632
Total prescribed officers' remuneration	10 238 828	95 420	1 275 444	95 777 510	13 905 567	(22 838 717)	86 844 360

¹	Includes leave days purchased as well as travel and acting allowances.
²	All incentive schemes are performance related and were approved by the board of directors.
³	Includes ex-gratia and mutual separation pay-outs.
⁴	Includes long service awards, zero-fatality and LTIFR rewards.
⁵	Includes leave encashments and retention allowances.
⁶	Amount recognised for share-based payment expenses, in terms of IFRS 2, in respect of equity-settled share-based payment schemes for services rendered during the year. The employee will only be entitled to the options once all vesting conditions have been met.
⁷	Retired on 31 July 2022.
⁸	Resigned on 30 November 2022.
⁹	Appointed as acting executive head: human resources on 13 September 2022. Remuneration information relates to the full year.
¹⁰	Appointed as acting managing director: energy on 16 August 2022. Remuneration information relates to the full year.
¹¹	Appointed as managing director: minerals on 1 March 2022.
¹²	Resigned on 31 August 2022.
¹³	Appointed on 7 February 2022.
¹⁴	Retired on 25 May 2022.

2022	Fees for services R	Benefits and allowances¹ R	Fees for services rendered to subsidiaries R	Total R
Non-executive directors
Dr GJ Fraser-Moleketi	1 341 322			1 341 322
K Ireton¹³	550 142			550 142
B Magara¹³	550 577			550 577
B Mawasha¹³	655 316			655 316
IN Malevu	629 194			629 194
L Mbatha	652 318		88 136	740 454
Dr P Mnganga¹³	662 442			662 442
VZ Mntambo	652 754		116 696	769 450
LI Mophatlane	1 217 826	3 253		1 221 079
MLB Msimang	848 293			848 293
EJ Myburgh¹⁴	527 452			527 452
V Nkonyeni	1 067 868			1 067 868
CJ Nxumalo	1 028 084			1 028 084
MG Qhena (Chairman)	2 198 914	22 168		2 221 082
PCCH Snyders	1 177 614			1 177 614
Total non-executive directors' remuneration	13 760 116	25 421	204 832	13 990 369

¹	Travelling reimbursement for visiting the various operations of the company during the year.

Retirement amounts relate to defined contribution retirement funds.

	NCOE/guaranteed remuneration plus circumstantial			Short term incentives	Long term incentives
2021	Basic salary R	Benefits and allowances¹ R	Retirement fund contributions R	Performance bonuses² R	Gains on management share schemes R
Executive directors
MDM Mgojo	6 947 131	291 500	662 456	4 079 336	22 856 637
Dr N Tsengwa⁶	5 366 990	211 657	449 202	2 840 928	7 241 197
PA Koppeschaar	5 235 563	301 917	460 447	3 018 760	9 441 112
Total executive directors' remuneration	17 549 684	805 074	1 572 105	9 939 024	39 538 946
Prescribed officers
V Balgobind	3 204 409	60 225	244 952	1 520 708	4 526 565
AS De Angelis	2 986 668	60 442	216 365	1 414 066	4 214 814
JG Meyer	3 624 697	329 399	361 866	1 870 110	4 862 538
MI Mthenjane	3 667 531	93 883	306 820	1 762 768	5 324 051
AT Ndoni⁷	415 740		30 118	81 726
R Tatnall⁸	4 548 281	1 108 848
SE van Loggerenberg⁹	292 895	11 180	18 900
M Veti	3 664 113		348 495	1 738 666	5 308 035
Total prescribed officers' remuneration	22 404 334	1 663 977	1 527 516	8 388 044	24 236 003

	Other
2021	Exit payment paid R	Recognition³ R	Other⁴ R	Total remuneration R	Share-based payment expense⁵ R	Gains on management share schemes R	Total remuneration expense R
Executive directors
MDM Mgojo		49 760	130 722	35 017 542	13 350 626	(22 856 637)	25 511 531
Dr N Tsengwa⁶		5 760		16 115 734	5 592 894	(7 241 197)	14 467 431
PA Koppeschaar		7 760		18 465 559	6 131 435	(9 441 112)	15 155 882
Total executive directors' remuneration		63 280	130 722	69 598 835	25 074 955	(39 538 946)	55 134 844
Prescribed officers
V Balgobind		5 760	16 336	9 578 955	2 617 682	(4 526 565)	7 670 072
AS De Angelis		5 760		8 898 115	1 846 234	(4 214 814)	6 529 535
JG Meyer		5 760		11 054 370	3 057 715	(4 862 538)	9 249 547
MI Mthenjane		9 460	44 974	11 209 487	2 807 310	(5 324 051)	8 692 746
AT Ndoni⁷			700 000	1 227 584	63 025		1 290 609
R Tatnall⁸				5 657 129			5 657 129
SE van Loggerenberg⁹	2 437 970		37 970	2 798 915	(850 361)		1 948 554
M Veti		5 760		11 065 069	2 998 662	(5 308 035)	8 755 696
Total prescribed officers' remuneration	2 437 970	32 500	799 280	61 489 624	12 540 267	(24 236 003)	49 793 888

2021	Fees for services R	Fees for services rendered to subsidiaries R	Total R
Non-executive directors
Dr GJ Fraser-Moleketi	1 348 895		1 348 895
IN Malevu¹⁰	264 307		264 307
L Mbatha	667 102	61 184	728 286
VZ Mntambo	694 100	108 012	802 112
MJ Moffett¹¹	306 340	188 100	494 440
LI Mophatlane	923 897	46 234	970 131
MLB Msimang¹²	438 671		438 671
EJ Myburgh	1 217 809		1 217 809
V Nkonyeni	991 677	236 500	1 228 177
CJ Nxumalo¹³	616 741		616 741
MG Qhena (chairman)¹⁴	1 267 377		1 267 377
J van Rooyen¹⁵	878 214		878 214
PCCH Snyders	1 012 324		1 012 324
Total non-executive directors' remuneration	10 627 454	640 030	11 267 484

¹	Includes leave days purchased as well as travel and acting allowances.
²	All incentive schemes are performance related and were approved by the board of directors.
³	Includes long service awards, zero-fatality and LTIFR rewards.
⁴	Includes leave encashments and retention allowances.
⁵	Amount recognised for share-based payment expenses, in terms of IFRS 2, in respect of equity-settled share-based payment schemes for services rendered during the year. The employee will only be entitled to the options once all vesting conditions have been met.
⁶	Appointed to the board of directors on 16 March 2021.
⁷	Appointed on 1 November 2021.
⁸	Appointed on 10 March 2021, in terms of a fixed term employment contract.
⁹	Resigned on 18 February 2021.
¹⁰	Appointed on 22 June 2021.
¹¹	Resigned on 11 May 2021.
¹²	Appointed on 15 March 2021.
¹³	Appointed on 1 February 2021.
¹⁴	Appointed on 19 April 2021.
¹⁵	Retired on 27 May 2021.

Retirement amounts relate to defined contribution retirement funds.

14.5.3 Interests in Exxaro shares

(i) Number of shares

	2022		2021
Directors at 31 December	Direct	Indirect	Direct	Indirect
Beneficial interests
PA Koppeschaar	68 846	7 374	63 781	11 415
MDM Mgojo			112 496	4 705 162
VZ Mntambo		4 448 839		4 448 839
Dr N Tsengwa	100 361	3 777	78 710	6 491

(ii) Percentages (direct and indirect)

Directors at 31 December	2022 %	2021 %
PA Koppeschaar	0.02	0.02
MDM Mgojo		1.38
VZ Mntambo	1.27	1.27
Dr N Tsengwa	0.03	0.02

There have been no changes in the directors' interests in Exxaro shares between the end of the financial year 2022 and the date on which the annual financial statements were approved.

14.5.4 Share options and restricted share awards

The following options and rights in shares in the company were exercised or are outstanding in favour of directors and prescribed officers of the company under the company's share option schemes:

Management share scheme – LTIP

2022	Rights held at 31 December¹ Number	Exercisable period	Proceeds if exercisable at 31 December² R	Pre-tax gain if exercisable at 31 December² R	MSR election³ Number	Options exercised during the year Number	Shares forfeited⁴ Number	Sale price/ market price R	Pre‑tax gain R	Date exercised
Executive directors
MDM Mgojo		01/04/2022				88 460	27 109	218.71	19 347 087	01/04/2022
		01/04/2023				91 055	89 974	219.76	20 010 247	22/08/2022
		01/04/2024				45 354	60 946	219.76	9 966 995	22/08/2022
		01/04/2025				7 926	81 055	219.35	1 738 568	01/09/2022
						232 795	259 084		51 062 897
Dr N Tsengwa		01/04/2022				32 393	9 927	218.71	7 084 673	01/04/2022
	66 289	01/04/2023	14 405 263	14 405 263
	80 115	01/04/2024	17 409 791	17 409 791
	14 224	01/04/2025	3 091 017	3 091 017
	78 093	01/04/2025	16 970 390	16 970 390
	238 721		51 876 461	51 876 461		32 393	9 927		7 084 673
PA Koppeschaar		01/04/2022				41 571	12 739	218.71	9 091 993	01/04/2022
	85 072	01/04/2023	18 486 996	18 486 996
	49 954	01/04/2024	10 855 504	10 855 504
	41 816	01/04/2025	9 087 035	9 087 035
	176 842		38 429 535	38 429 535		41 571	12 739		9 091 993
Prescribed officers
V Balgobind		01/04/2022				17 558	5 380	218.71	3 840 110	01/04/2022
		01/04/2023					35 930
		01/04/2024					20 503
		01/04/2025					17 163
						17 558	78 976		3 840 110
H Bhola		01/04/2022				8 340	2 555	218.71	1 824 041	01/04/2022
	17 065	01/04/2023	3 708 395	3 708 395
	10 447	01/04/2024	2 270 238	2 270 238
	8 828	01/04/2025	1 918 413	1 918 413
	36 340		7 897 046	7 897 046		8 340	2 555		1 824 041
AS De Angelis		01/04/2022			1 638	6 554	2 510	218.71	1 433 425	01/04/2022
	33 410	01/04/2023	7 260 327	7 260 327
	19 066	01/04/2024	4 143 232	4 143 232
	15 960	01/04/2025	3 468 268	3 468 268
	68 436		14 871 827	14 871 827	1 638	6 554	2 510		1 433 425
L Groenewald		01/04/2022				16 128	4 942	218.71	3 527 355	01/04/2022
	33 002	01/04/2023	7 171 665	7 171 665
	19 175	01/04/2024	4 166 919	4 166 919
	16 832	01/04/2025	3 657 762	3 657 762
	69 009		14 996 346	14 996 346		16 128	4 942		3 527 355
PK Masia	34 170	01/04/2025	7 425 483	7 425 483
	34 170	01/04/2025	7 425 483	7 425 483
	68 340		14 850 966	14 850 966
JG Meyer		01/04/2022			10 796	10 796	6 617	218.71	2 361 193	01/04/2022
	44 185	01/04/2023	9 601 842	9 601 842
	25 214	01/04/2024	5 479 254	5 479 254
	21 107	01/04/2025	4 586 762	4 586 762
	90 506		19 667 858	19 667 858	10 796	10 796	6 617		2 361 193
MI Mthenjane		01/04/2022			2 035	18 317	6 237	218.71	4 006 111	01/04/2022
	41 649	01/04/2023	9 050 744	9 050 744
	23 767	01/04/2024	5 164 807	5 164 807
	19 895	01/04/2025	4 323 382	4 323 382
	85 311		18 538 933	18 538 933	2 035	18 317	6 237		4 006 111
AT Ndoni	12 165	01/11/2024	2 643 576	2 643 576
	9 296	01/04/2025	2 020 114	2 020 114
	21 461		4 663 690	4 663 690
M Veti		01/04/2022				20 074	6 152	218.71	4 390 385	01/04/2022
	41 080	01/04/2023	8 927 095	8 927 095
	23 442	01/04/2024	5 094 181	5 094 181
	19 623	01/04/2025	4 264 274	4 264 274
	84 145		18 285 550	18 285 550		20 074	6 152		4 390 385

¹	Option strike price is nil.
²	Based on a share price of R217.31 which prevailed on 31 December 2022.
³	Election to transfer shares arising from the vested options to the MSR portfolio.
⁴	Shares forfeited due to performance conditions not being fully met.

2021	Rights held at 31 December¹ Number	Exercisable period	Proceeds if exercisable at 31 December² R	Pre-tax gain if exercisable at 31 December² R	Modification during the year Number	Options exercised during the year Number	Shares forfeited³ Number	Sale price/ market price R	Pre‑tax gain R	Date exercised
Executive directors
MDM Mgojo		01/04/2021				107 989	53 985	177.96	19 217 722	15/04/2021
		01/04/2021			5 248	3 499	1 749	174.39	610 191	23/09/2021
	115 569	01/04/2022	17 667 033	17 667 033	3 627
	181 029	01/04/2023	27 673 903	27 673 903	5 682
	106 300	01/04/2024	16 250 081	16 250 081
	402 898		61 591 017	61 591 017	14 557	111 488	55 734		19 827 913
Dr N Tsengwa		01/04/2021				39 177	19 585	177.96	6 971 939	15/04/2021
		01/04/2021			1 904	1 270	634	174.39	221 475	23/09/2021
	42 320	01/04/2022	6 469 458	6 469 458	1 329
	66 289	01/04/2023	10 133 599	10 133 599	2 081
	80 115	01/04/2024	12 247 180	12 247 180
	188 724		28 850 237	28 850 237	5 314	40 447	20 219		7 193 414
PA Koppeschaar		01/04/2021				50 701	25 346	177.96	9 022 750	15/04/2021
		01/04/2021			2 464	1 643	821	174.39	286 523	23/09/2021
	54 310	01/04/2022	8 302 370	8 302 370	1 705
	85 072	01/04/2023	13 004 957	13 004 957	2 670
	49 954	01/04/2024	7 636 468	7 636 468
	189 336		28 943 795	28 943 795	6 839	52 344	26 167		9 309 273
Prescribed officers
V Balgobind		01/04/2021				21 434	10 714	177.96	3 814 395	15/04/2021
		01/04/2021			1 042	695	347	174.39	121 201	23/09/2021
	22 938	01/04/2022	3 506 532	3 506 532	720
	35 930	01/04/2023	5 492 619	5 492 619	1 128
	20 503	01/04/2024	3 134 294	3 134 294
	79 371		12 133 445	12 133 445	2 890	22 129	11 061		3 935 596
AS De Angelis		01/04/2021				9 954	4 976	177.96	1 771 414	15/04/2021
		01/04/2021				13 000	1 084	177.96	2 313 480	15/04/2021
		01/04/2021			457	422	35	174.39	73 593	23/09/2021
		01/04/2021			484	323	161	174.39	56 328	23/09/2021
	10 702	01/04/2022	1 636 015	1 636 015	336
	33 410	01/04/2023	5 107 387	5 107 387	1 049
	19 066	01/04/2024	2 914 619	2 914 619
	63 178		9 658 021	9 658 021	2 326	23 699	6 256		4 214 815
JG Meyer		01/04/2021				26 482	13 238	177.96	4 712 737	15/04/2021
		01/04/2021			1 287	859	428	174.39	149 801	23/09/2021
	28 209	01/04/2022	4 312 310	4 312 310	886
	44 185	01/04/2023	6 754 561	6 754 561	1 387
	25 214	01/04/2024	3 854 464	3 854 464
	97 608		14 921 335	14 921 335	3 560	27 341	13 666		4 862 538
MI Mthenjane		01/04/2021				25 318	12 657	177.96	4 505 591	15/04/2021
		01/04/2021			1 231	821	410	174.39	143 174	23/09/2021
	26 589	01/04/2022	4 064 660	4 064 660	835
	41 649	01/04/2023	6 366 883	6 366 883	1 308
	23 767	01/04/2024	3 633 261	3 633 261
	92 005		14 064 804	14 064 804	3 374	26 139	13 067		4 648 765
AT Ndoni	12 165	01/11/2024	1 859 664	1 859 664
	12 165		1 859 664	1 859 664
M Veti		01/04/2021				24 972	12 483	177.96	4 444 017	15/04/2021
		01/04/2021			1 214	810	404	174.39	141 256	23/09/2021
	26 226	01/04/2022	4 009 169	4 009 169	824
	41 080	01/04/2023	6 279 900	6 279 900	1 290
	23 442	01/04/2024	3 583 579	3 583 579
	90 748		13 872 648	13 872 648	3 328	25 782	12 887		4 585 273

¹	Option strike price is nil.
²	Based on a share price of R152.87 which prevailed on 31 December 2021.
³	Shares forfeited due to performance conditions not being fully met.

Management share scheme – DBP

2022	Rights held at 31 December¹ Number	Exercisable period	Proceeds if exercisable at 31 December² R	Pre-tax gain if exercisable at 31 December² R	MSR election³ Number	Options exercised during the year Number	Shares forfeited⁴ Number	Sale price/ market price R	Pre-tax gain R	Date exercised
Executive directors
MDM Mgojo		15/03/2022				1 460		209.58	305 987	16/03/2022
		31/03/2022				8 618		212.89	1 834 686	31/03/2022
		31/03/2023				10 206	2 916	219.76	2 242 871	22/08/2022
		31/08/2023				842	477	219.76	185 038	22/08/2022
		19/03/2024				385	482	219.76	84 608	22/08/2022
		31/03/2024				4 031	5 039	219.76	885 853	22/08/2022
		21/09/2024				274	714	219.76	60 214	22/08/2022
		04/03/2025				270	2 161	219.76	59 335	22/08/2022
		31/03/2025				661	5 289	219.76	145 261	22/08/2022
						26 747	17 078		5 803 853
Dr N Tsengwa		15/03/2022				536		209.58	112 335	24/03/2022
		31/03/2022				2 436		212.89	518 600	04/04/2022
	432	31/08/2023	93 878	93 878
	589	19/03/2024	127 996	127 996
	2 770	31/03/2024	601 949	601 949
	3 791		823 823	823 823		2 972			630 935
PA Koppeschaar		31/03/2022				5 543		212.89	1 180 049	31/03/2022
	4 778	31/03/2023	1 038 307	1 038 307
	1 004	31/08/2023	218 179	218 179
	750	21/09/2024	162 983	162 983
	1 024	04/03/2025	222 525	222 525
	7 556		1 641 994	1 641 994		5 543			1 180 049
Prescribed officers
V Balgobind		15/03/2022				363		209.58	76 078	22/03/2022
		31/03/2022				2 623		212.89	558 410	31/03/2022
		31/03/2023					2 241
		21/09/2024					244
		04/03/2025					1 077
		31/03/2025					1 982
						2 986	5 544		634 488
H Bhola		15/03/2022				227		209.58	47 575	24/03/2022
		31/03/2022				718		212.89	152 855	06/04/2022
	1 110	31/03/2023	241 214	241 214
	137	19/03/2024	29 771	29 771
	778	31/03/2024	169 067	169 067
	159	31/08/2024	34 552	34 552
	394	04/03/2025	85 620	85 620
	584	31/03/2025	126 909	126 909
	3 162		687 133	687 133		945			200 430
AS De Angelis	1 092	31/03/2023	237 303	237 303
	466	31/08/2023	101 266	101 266
	202	19/03/2024	43 897	43 897
	1 269	31/03/2024	275 766	275 766
	227	21/09/2024	49 329	49 329
	3 256		707 561	707 561
L Groenewald		15/03/2022				589		209.58	123 443	16/03/2022
		31/03/2022				2 338		212.89	497 737	08/04/2022
	3 655	31/03/2023	794 268	794 268
	552	31/08/2023	119 955	119 955
	200	19/03/2024	43 462	43 462
	1 275	31/03/2024	277 070	277 070
	409	21/09/2024	88 880	88 880
	1 004	04/03/2025	218 179	218 179
	1 845	31/03/2025	400 937	400 937
	8 940		1 942 751	1 942 751		2 927			621 180
JG Meyer	4 942	31/03/2023	1 073 946	1 073 946
	301	21/09/2024	65 410	65 410
	5 243		1 139 356	1 139 356
AT Ndoni	96	04/03/2025	20 862	20 862
	96		20 862	20 862
M Veti		15/03/2022			433
		31/03/2022			1 730
	682	31/08/2023	148 205	148 205
	449	19/03/2024	97 572	97 572
	3 180	31/03/2024	691 046	691 046
	278	21/09/2024	60 412	60 412
	4 589		997 235	997 235	2 163

¹	Option strike price is nil.
²	Based on a share price of R217.31 which prevailed on 31 December 2022.
³	Election to transfer shares arising from the vested options to the MSR portfolio.
⁴	Shares forfeited due to performance conditions not being fully met.

2021	Rights held at 31 December¹ Number	Exercisable period	Proceeds if exercisable at 31 December² R	Pre-tax gain if exercisable at 31 December² R	Modification during the year Number	Options exercised during the year Number	Sale price/ market price R	Pre-tax gain R	Date exercised
Executive directors
MDM Mgojo		09/03/2021				4 372	177.96	778 041	13/04/2021
		09/03/2021			142	142	174.39	24 763	23/09/2021
		31/03/2021				11 139	177.96	1 982 296	13/04/2021
		31/03/2021			361	361	174.39	62 955	23/09/2021
		31/08/2021			33	1 036	174.39	180 668	01/10/2021
	1 460	15/03/2022	223 190	223 190	46
	8 618	31/03/2022	1 317 434	1 317 434	271
	13 122	31/03/2023	2 005 960	2 005 960	412
	1 319	31/08/2023	201 636	201 636	42
	867	19/03/2024	132 538	132 538
	9 070	31/03/2024	1 386 531	1 386 531
	988	21/09/2024	151 036	151 036
	35 444		5 418 325	5 418 325	1 307	17 050		3 028 723
Dr N Tsengwa		31/08/2021			9	274	174.39	47 783	01/10/2021
	536	15/03/2022	81 938	81 938	17
	2 436	31/03/2022	372 391	372 391	77
	432	31/08/2023	66 040	66 040	14
	589	19/03/2024	90 040	90 040
	2 770	31/03/2024	423 450	423 450
	6 763		1 033 859	1 033 859	117	274		47 783
PA Koppeschaar		31/08/2021			24	756	174.39	131 839	27/09/2021
	5 543	31/03/2022	847 358	847 358	174
	4 778	31/03/2023	730 413	730 413	150
	1 004	31/08/2023	153 481	153 481	32
	750	21/09/2024	114 653	114 653
	12 075		1 845 905	1 845 905	380	756		131 839
Prescribed officers
V Balgobind		09/03/2021				1 089	177.96	193 798	16/04/2021
		09/03/2021			36	36	174.39	6 278	23/09/2021
		31/03/2021				1 880	177.96	334 565	15/04/2021
		31/03/2021			61	61	174.39	10 638	23/09/2021
		31/08/2021			9	262	174.39	45 690	01/10/2021
	363	15/03/2022	55 492	55 492	12
	2 623	31/03/2022	400 978	400 978	83
	2 241	31/03/2023	342 582	342 582	71
	244	21/09/2024	37 300	37 300
	5 471		836 352	836 352	272	3 328		590 969
AS De Angelis	1 092	31/03/2023	166 934	166 934	35
	466	31/08/2023	71 237	71 237	15
	202	19/03/2024	30 880	30 880
	1 269	31/03/2024	193 992	193 992
	227	21/09/2024	34 701	34 701
	3 256		497 744	497 744	50
JG Meyer	4 942	31/03/2023	755 484	755 484	156
	301	21/09/2024	46 014	46 014
	5 243		801 498	801 498	156
MI Mthenjane		09/03/2021				1 346	177.96	239 534	13/04/2021
		09/03/2021			44	44	174.39	7 673	23/09/2021
		31/03/2021				2 331	177.96	414 825	13/04/2021
		31/03/2021			76	76	174.39	13 254	23/09/2021
					120	3 797		675 286
M Veti		09/03/2021				1 326	177.96	235 975	13/04/2021
		09/03/2021			43	43	174.39	7 499	23/09/2021
		31/03/2021				2 314	177.96	411 799	13/04/2021
		31/03/2021			75	75	174.39	13 079	23/09/2021
		31/08/2021			10	312	174.39	54 410	01/10/2021
	433	15/03/2022	66 193	66 193	14
	1 730	31/03/2022	264 465	264 465	55
	682	31/08/2023	104 257	104 257	22
	449	19/03/2024	68 639	68 639
	3 180	31/03/2024	486 127	486 127
	278	21/09/2024	42 498	42 498
	6 752		1 032 179	1 032 179	219	4 070		722 762

¹	Option strike price is nil.
²	Based on a share price of R152.87 which prevailed on 31 December 2021.

MSR portfolio shares

2022	Rights held at 31 December Number	Exercisable period	Proceeds if exercisable at 31 December¹ R	Pre-tax gain if exercisable at 31 December¹ R	MSR election during the year Number
Prescribed officers
AS De Angelis	1 638	30/06/2026	355 954	355 954	1 638
	1 638		355 954	355 954	1 638
JG Meyer	10 796	30/06/2026	2 346 079	2 346 079	10 796
	10 796		2 346 079	2 346 079	10 796
MI Mthenjane	2 035	30/06/2026	442 226	442 226	2 035
	2 035		442 226	442 226	2 035
M Veti	2 163	30/06/2026	470 042	470 042	2 163
	2 163		470 042	470 042	2 163

¹	Based on a share price of R217.31 which prevailed on 31 December 2022.