Interfront 2025 Annual Report

78 INTERFRONT ANNUAL REPORT 2025 Terms of Reference In terms of its approved Terms of Reference, the Committee is required to meet at least twice per financial year. During the year under review, the Committee convened on three occasions, including a special meeting. The Remuneration Committee held a special meeting on 25 June 2024, during which it reviewed and recommended the annual salary increase and performance-based bonus proposals for Interfront employees for approval by the Board. The Committee also finalised the performance scorecards for the executive directors and, based on the assessed outcomes, recommended the annual salary adjustments and bonus payments for the executive directors for the Board’s approval. Committee Work Plan The Remuneration, Social and Ethics Committee adopted a comprehensive Committee WorkPlan, presented in a structured tabular format. This plan alignswith theCommittee’s Terms of Reference and serves as a practical tool to guide the Committee’s oversight throughout the financial year. The Work Plan specifies the frequency and timing of reports and feedback that the Committee expects to receive on key areas of oversight. These include: • Executive Directors Performance Assessment. • Review and recommend for Board approval, the Performance Agreement of Executive Directors. • Human Capital Report and Statistics. • Human resource policies and remuneration strategy policies should be reviewed where applicable. • Monitor Interfront’s compliance with Employment Equity requirements. • Monitor aspects of Social and Economic Development. • Review aspects of Health and Safety within Interfront • Review aspects and adopt policies dealing with Labour and Employment • Review and recommend for Board approval annual salary increases for Interfront employees and executive directors. • Review and recommend for Board approval annual bonus payments for Interfront employees and executive directors. By mapping out its responsibilities in advance, the Committee ensures a proactive and well-coordinated approach to fulfilling its fiduciary duties and supporting Interfront’s strategic and operational objectives.