DIRECTORS' EMOLUMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2022

Table of directors' emoluments for the year ended 30 September 2022

	GROUP
(R’000)	Fees	Cash salary	Bonus	Other benefits	Retirement fund contributions	Gains on options exercised	Total 2022
Executive directors
NP Doyle	–	8 878	–	–	1 455	–	10 333
DS Sita	–	5 938	909	245	330	–	7 422
Total A	–	14 816	909	245	1 785	–	17 755
Non-executive directors**
MO Ajukwu	1 563	–	–	–	–	–	1 563
FNJ Braeken1	992	–	–	–	–	–	992
MJ Bowman2	340	–	–	–	–	–	340
CH Fernandez	991	–	–	–	–	–	991
GJ Fraser-Moleketi	2 143	–	–	–	–	–	2 143
GA Klintworth	1 506	–	–	–	–	–	1 506
M Makanjee3	188	–	–	–	–	–	188
TE Mashilwane	733	–	–	–	–	–	733
M Sello	1 081	–	–	–	–	–	1 081
LA Swartz4	143	–	–	–	–	–	143
OM Weber	1 628	–	–	–	–	–	1 628
DG Wilson	875	–	–	–	–	–	875
Total B	12 183	–	–	–	–	–	12 183
Total A + B	12 183	14 816	909	245	1 785	–	29 938
Aggregated details of remuneration paid to members of the executive committee, excluding executive directors above, are set out hereunder
Total	–	43 123	10 658*	3 061	2 631	708	60 181

1	FNJ Braeken appointed 1 April 2022.
2	MJ Bowman retired 16 February 2022.
3	M Makanjee retired 31 December 2021.
4	LA Swartz appointed 1 June 2022.
*	During the year certain executive committee members were paid retention bonuses. An upfront payment is made with a two-year lock-in provision. Total of retention bonuses paid in 2022 amounts to R24,1 million, total expenses in employee costs amounts to R10,0 million and total prepayment amounts to R14,1 million. Further to the retention bonuses, any other bonuses are disclosed to the extent that they have been paid.
**	The fees to non-executive directors exclude VAT. Includes Special Audit – External Audit RFP.

Table of directors' emoluments for the year ended 30 September 2021

	GROUP
(R’000)	Fees	Cash salary	Bonus*	Other benefits	Retirement fund contributions	Total 2021
Executive directors
NP Doyle	–	8 591	–	–	1 409	10 000
DS Sita1	–	4 957	909	228	335	6 429
Total A	–	13 548	909	228	1 744	16 429
Non-executive directors**
MO Ajukwu	1 460	–	–	–	–	1 460
MJ Bowman	754	–	–	–	–	754
I Burton2	442	–	–	–	–	442
GJ Fraser-Moleketi3	1 713	–	–	–	–	1 713
CH Fernandez	1 028	–	–	–	–	1 028
GA Klintworth	1 345	–	–	–	–	1 345
M Makanjee	799	–	–	–	–	799
TE Mashilwane	713	–	–	–	–	713
Dr KDK Mokhele4	519	–	–	–	–	519
MP Nyama5	346	–	–	–	–	346
M Sello	909	–	–	–	–	909
OM Weber	1 440	–	–	–	–	1 440
DG Wilson	868	–	–	–	–	868
Total B	12 336	–	–	–	–	12 336
Total A + B	12 336	13 548	909	228	1 744	28 765
Aggregated details of remuneration paid to members of the executive committee, excluding executive directors above, are set out hereunder
Total	–	40 787	303	2 616	2 394	46 100

1	DS Sita appointed on 1 October 2020.
2	I Burton resigned on 24 June 2021.
3	GJ Fraser-Moleketi for FY21, chairman from 1 January 2021 to 30 September 2021.
4	Dr KDK Mokhele retired on 31 December 2020. During the year, served as chairman from 1 October 2020 to 31 December 2020.
5	MP Nyama retired on 17 February 2021.
*	Certain executive committee members are paid sign-on bonuses. An upfront payment is made with a two-year lock-in provision. Total of sign-on bonuses paid in 2021 amounts to R4,2 million, total expenses in employee costs amounts to R1,2 million and total prepayment amounts to R3,0 million.
**	The fees to non-executive directors exclude VAT.

Tiger Brands Limited 2013 Share Plan

Executive directors

Details of share appreciation rights allocated to executive directors under this plan at 30 September 2022 are set out below:

Name	Date of grant	Holding at 1 October 2021	Forfeited 2022	Holding at 30 September 2022	Number of options vested at 30 September 2022	Number of options subject to performance targets and retention	Grant price  (Rand)
NP Doyle	Dec-18	56 688	18 895	37 793	–	37 793	254,8
	Dec-17	32 866	16 432	16 434	–	16 434	385,3
	Dec-16	12 112	12 112	–	–	–	368,1
Total		101 666	47 439	54 227	–	54 227

Details of performance shares awarded to executive directors under the Tiger Brands Limited 2013 Share Plan as at 30 September 2022 appear below:

Name	Date of grant	Holding at 1 October 2021	Granted 2022	Holding at 30 September 2022	Number of options vested at 30 September 2022	Number of options subject to performance targets and retention	10-day VWAP share price on grant date
NP Doyle	Dec-21	–	69 700	69 700	–	69 700	182,0
	Dec-20	59 930	–	59 930	–	59 930	203,5
	Sep-20	65 880	–	65 880	–	65 880	178,2
Total		125 810	69 700	195 510		195 510
DS Sita	Dec-21	–	9 220	9 220	–	9 220	182,0
	Dec-20	31 680	–	31 680	–	31 680	203,5
Total		31 680	9 220	40 900	–	40 900

Details of restricted shares awarded to executive directors under the Tiger Brands Limited 2013 Share Plan as at 30 September 2022 appear below:

Name	Date of grant	Holding at 1 October 2021	Granted 2022	Holding at 30 September 2022	Number of options vested at 30 September 2022	Number of options subject to performance targets and retention	10-day VWAP share price on grant date
DS Sita	Dec-21	–	72 540	72 540		72 540	182,0
Total		–	72 540	72 540		72 540

Executive committee members (excluding executive directors)

Aggregated details of share appreciation rights allocated to members of the executive committee, other than executive directors above, as at 30 September 2022, are set out below:

Total for FY	Date of grant	Holding at 1 October 2021	Forfeited 2022	Holding at 30 September 2022	Number of options vested at 30 September 2022	Number of options subject to performance targets and retention	Grant price  (Rand)
2019	Dec-18	188 683	101 014	87 669	–	87 669	254,8
2018	Dec-17	18 327	10 521	7 806	–	7 806	385,3
2017	Dec-16	10 954	10 954	–	–	–	368,1

Aggregated details of performance shares awarded to members of the executive committee, other than executive directors above, as at 30 September 2022, are set out below:

Total for FY	Date of grant	Holding at 1 October 2021	Granted 2022	Forfeited 2022	Holding at 30 September 2022	Number of options vested at 30 September 2022	Number of options subject to performance targets and retention	10-day VWAP share price on grant date
2022	Dec-21	–	107 320	5 280	102 040	–	102 040	182,0
2021*	Dec-20	112 120	–	40 517	71 603	–	71 603	203,5
2020	Sep-20	104 446	–	22 110	82 336	–	82 336	178,2
2020	Mar-20	47 220	–	–	47 220	–	47 220	172,4

*	The difference in the holding at 1 October 2021 relates to performance shares which had been awarded in prior financial years to an employee.

Aggregated details of restricted shares granted to members of the executive committee, other than executive directors above, as at 30 September 2022:

Total for FY	Date of grant	Holding at 1 October 2021	Granted 2022	Exercised 2022	Forfeited 2022	Holding at 30 September 2022	Number of options vested at 30 September 2022	Number of options subject to performance targets and retention	10-day VWAP share price on grant date
2022	Various	–	107 010	–	15 830	91 180	–	91 180	182,0
2021	Various	2 250	–	–	–	2 250	–	2 250	203,5
2020	Various	42 081	–	–	42 081	–	–	–	178,2

The difference in the holding at 1 October 2021 relates to restricted shares which had been granted in prior financial years to an employee who had been appointed to the executive committee in 2022.