Executive Compensation Managing compensation risk Compensation is aligned with the company’s risk appetite and risk management objectives, and discourages inappropriate risk taking. We use a compensation risk framework to structure how we manage the risks associated with the compensation program and the design features that mitigate these risks. The framework includes four categories, which shape the development of our compensation program. We assess our compensation program against the framework every year. Business risk Talent risk Performance risk Compliance and Business risk has two Talent risk is the risk Performance risk is ethical risk aspects: that our compensation the risk that our Compliance and • the risk that our program will not compensation ethical risk is the compensation attract and retain program will not risk that our program encourages talented employees motivate employees compensation behaviour that is not We seek to manage to maintain high program will in line with our this risk by designing performance encourage business strategy, our compensation standards employees to our risk appetite program to be We seek to manage engage in statement and our competitive and this risk by including questionable, goal of generating appealing to the talent appropriate links unethical or illegal long-term we want to attract between pay and behaviour shareholder value performance and We seek to manage • the risk that the designing this risk through compensation compensation to strong oversight program encourage executives and control discourages the to achieve mechanisms, and by taking of healthy performance structuring our risks objectives without compensation We seek to manage taking undue risk program in a way both aspects of that minimizes the business risk by potential incentive including performance to breach measures in our compliance and incentive plans that ethical guidelines align compensation with our business strategy and reflect the impact employees have See page 119 for information about our risk appetite and our on performance enterprise risk management framework 2023 Management information circular 105