City Developments (C09) EGM 2026 presentation summary

Purpose and objectives of the PSP 2026

• New share-based incentive plan aims to drive long-term value creation by aligning senior management rewards with shareholder interests.

• Designed to attract, retain, and motivate high-calibre senior management in a competitive market.

• Focuses on rewarding sustained performance and value creation over an extended period.

• Reinforces alignment between management and shareholders through long-term remuneration outcomes.

Plan structure and participants

• Targets 30–40 key management and senior management employees, with eligibility reviewed by the NRC.

• Allows for potential inclusion of non-executive directors, though not currently intended.

• Plan size capped at 10% of issued ordinary shares (excluding treasury and subsidiary holdings), with a 10-year duration and possible extension.

• Shares sourced primarily from existing treasury shares, minimizing dilution for current shareholders.

Performance conditions, vesting, and safeguards

• Vesting based on KPIs: Total Shareholder Return, Earnings Per Share, Return on Average Capital Employed, and Greenhouse Gas emissions reduction.

• Awards typically cliff-vest after a 3-year performance period, with outcomes interpolated between threshold (0%), target (100%), and superior (200%) levels.

• NRC reviews KPIs and vesting periods to ensure alignment with strategic objectives.

• Includes malus and clawback provisions for misconduct, financial inaccuracies, or actions causing loss or reputational harm, with a 6-year clawback window.