ESRS disclosure

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  • Provide the methodology used for calculating the remuneration ratio, adjusted for purchasing power differences between countries, as per Disclosure Requirement S1-16 concerning remuneration metrics (pay gap and total remuneration).
  • Question Id: S1-16_07

    The CEO pay ratio is calculated as the ratio between the annual awarded remuneration of the Group CEO to the average annual remuneration for all employees (less remuneration for the Group CEO). The average number of employees is normalised to full-time equivalents by assuming that two part-time employees equal one full-time employee. We do not have data available to perform the calculation on a 'median' basis. Our preparations for the EU Pay Transparency Directive will continue during 2025 and is expected to improve our ability to utilise median data. The remuneration considered for the Group CEO (highest-paid employee) is the award-based amount. This reflects the cash value of remuneration earned for the year - including base salary, non-monetary benefits, short-term incentive programmes (STIP). In addition, this includes the value of long-term incentive programmes (LTIP) which is estimated as the fair value at 31 December of the shares to be received in March 2025, when the LTIP programme vests. The value is calculated as the actual number of shares received, if any, in March 2025 multiplied by the share price at 31 December of the reporting year.

    Report Date: 4Q2024