Interfront 2025 Annual Report

83 GOVERNANCE 09 Remuneration of Board Members Interfront adheres to the remuneration framework prescribed by the National Treasury for independent, non-executive directors serving on the Board and its committees. In accordance with these guidelines, all remuneration is subject to approval by the Minister of Finance, ensuring alignment with public sector standards and principles of fairness, transparency, and accountability. During the reporting period, Mr. Mustaq Enus-Brey, Mr. Gustav Vermaas, Mr Erick Smith and Mr. Anton Roelofse, as non-executive directors, received remuneration as provided for in the approved framework. This compensation reflects the significant responsibility, expertise, and time required to fulfil their fiduciary duties and contribute to the governance and strategic oversight of Interfront. In line with best practice and to prevent any potential conflicts of interest, non-executive directors who are employees of the Shareholder do not receive any fees or remuneration from Interfront for their participation on the Board or its committees. This policy safeguards the independence of the Board and upholds the integrity of its decision-making processes. Erick Smith starting to receive remuneration once he was no longer employed by the Shareholder in-line with the approved rates by National Treasury. By strictly observing these remuneration regulations, Interfront reaffirms its commitment to ethical governance and the responsible stewardship of public resources. NAME MEMBER FEES (IN RAND) COMMITTEE FEES (IN RAND) TOTAL (IN RAND) Mustaq Enus-Brey 14 470 4 008 18 478 Gustav Vermaas 10 271 5 384 15 655 Anton Roelofse 2 004 – 2 004 Erick Smith 7 014 4 008 11 022 The remuneration paid to the Executive Directors is set out in