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Corporate Governance REMUNERATION REPORT Annual performance incentive, 2016 In accordance with the Group Remuneration Policy set out in this report, incentives awarded to the Group CEO and Senior Executives are based on the performance of the Group and on their individual performance. At the beginning of the year, the Committee set operational targets consisting of a number of key performance indicators (KPIs) covering both financial and non-financial measures of performance for the Group CEO and Senior Executives. In respect of the 2016 financial year, it was agreed by the Committee that an award was appropriate, having reviewed the Group’s performance and the performance of the executive team against the overall performance of the Group in 2016 and the KPIs set at the beginning of the year. In particular, some of the significant achievements in 2016 included: • Improvement in sales and market share in key Nigerian market • Achievement of profit targets • Completion of project to diversify kiln fuel sources in Nigeria, away from expensive LPFO • Improvements in sales and market shares in Pan-African operations • Opening new operations in Tanzania with good gains in market share • Achievement of agreed personal objectives The total amounts for Directors’ remuneration for the year ended 31st December, 2016 including comparative figures for the year ended 31st December 2015 are as follows: Executive Directors: Basic salary 2016 Group CEO Onne van der Weijde* Devakumar Edwin** Total *Appointed Group CEO on 2nd February 2015. **Resigned as Group CEO on 31st January 2015 2015 260,000 183,333 2,500 - 260,000 185,833 Directors’ fees & sitting fees 2016 2015 ₦’000 ₦’000 ₦’000 ₦’000 8,805 - 8,805 - - - Benefits & perquisites ₦’000 2016 2015 ₦’000 ₦’000 2016 2015 ₦’000 ₦’000 35,356 24,213 303,862 207,546 1,883 - - 4,383 35,356 26,096 303,862 211,929 Total emoluments Annual Report 2016 127

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