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## REMUNERATION POLICY 

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Performance shares The vesting of any performance shares is subject to achievement of performance conditions determined by the Committee prior to the date of grant and measured over a three-year period. 

The performance conditions further increase and support alignment between the executive directors’ reward and the long-term Group strategy and shareholder value. In order for any award (or part of an award) to vest, the Committee must be satisfied that underlying Group performance is at a satisfactory level. 

## PERFORMANCE CONDITIONS FOR PERFORMANCE SHARES 

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1  TSR comparator group: Anheuser-Busch Inbev, Asahi Group Holdings, Beam, Britvic, Brown-Forman ‘B’, Coca-Cola, Davide Campari-Milano, Diageo, Dr Pepper Snapple, Heineken, Kirin Holdings, Molson Coors Brewing ‘B’, Monster Beverage, PepsiCo, Pernod Ricard, Rémy Cointreau, SAB Miller, Sapporo Holdings. 

