Rand Water | Integrated Annual Report 2025

INTEGRATED ANNUAL REPO

Consolidated Annual Financial Statements for the year ended 30 June 2025

• Reviewed the submissions from management in respect of the Short-Term Incentive payout for the performance achieved in the 2024/2025 financial year, in line with REMCO’s terms of reference, and submitted a recommendation to the Board for final approval. • Reviewing Rand Water's variable pay mix based on input from independent remuneration advisors. • The organisation reviewed a number of operational and strategic policies and procedures; REMCO reviewed the employee related policies. The revision and approval of procedures is delegated to management. During the year under review, the following policies were considered by the committee: • Remuneration policy • Recruitment and selection policy • Capacity building policy • Wellness policy • Conferencing and travel policy • Leave policy • Secondment policy

8. Remuneration of Board Members

Rand Water Board

The Shareholder provides guidance to Rand Water on the remuneration rates for Board Members through a schedule of rates for the various categories of Board Members. The remuneration rates applicable to Board members remained unchanged in the current reporting period, consistent with the prior year.

Rand Water Foundation

The Rand Water Foundation Board members are remunerated at the rates that are approved by the Rand Water Board.

Further details on the remuneration of the Board members in office for the current financial year are provided in Note 34 of the consolidated annual financial statements.

9. Conclusion

Rand Water’s remuneration policy ensures fair, competitive, and transparent reward practices that attract, retain, and motivate employees at all levels. By coordinating structured benchmarking with clear principles, the organisation achieves a balance between internal equity and external competitiveness. Guaranteed pay, benefits, allowances, and performance based incentives align employee contributions with corporate objectives, encouraging a culture of accountability and high performance. The policy provides REMCO with oversight and strategic guidance, ensuring that remuneration decisions support organisational goals, performance outcomes, and industry best practices, while upholding equity and fairness. In summary, Rand Water’s remuneration approach strengthens long-term sustainability by rewarding excellence, addressing pay gaps, and promoting employee engagement and retention.

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Rand Water | Integrated Annual Report 2025