Company: AXS-PE
Filing Date: 2025-04-03
Form Type: DEF 14A
Source: 0001214816-25-000088
Chunk: 85

Company: AXIS CAPITAL HOLDINGS LTD
Filing Date: 2025-04-03
Form: DEF 14A
Chunk 85
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 for the pay-versus-performance disclosure, as it represents the most important financial performance measure used to link compensation actually paid to the CEO and Other NEOs in 2024 to the Company's performance. OROACE is the primary metric in determining Annual Incentive Plan awards. See "Compensation Discussion and Analysis" for more discussion on OROACE and its role in determining Annual Incentive Plan awards. In addition, please refer to Appendix 1 for a reconciliation of OROACE, a non-GAAP measure, to the most directly comparable GAAP measure of ROACE.

| AXIS 2025 Proxy Statement |     | 85 |

| Executive Compensation |

Reconciliation of Summary Compensation Table Totals to Compensation Actually Paid Table

While Summary Compensation Table (SCT) total compensation values and CAP values are shown together in the above table, they are calculated differently. The SCT compensation values include the grant date fair value of equity awards granted in the year shown (at the time the grant was made), whereas, CAP values include: (i) a revaluation of current year grants at year-end, (ii) the year-over-year change in the fair value of multiple years of historical equity grants, (iii) the vesting date value over the prior year end value for awards that vested during the year, plus (iv) dividends accrued during the listed year. As CAP includes multiple years of grants, the calculation of CAP each year is heavily impacted by the change in our stock price, and therefore, may be higher or lower than the SCT compensation values.

The following table is a reconciliation of the SCT totals and CAP for 2024.

|                    |     | Reconciliation of SCT Totals to CAP Table |     |                                     |     |            |                                 |     |              |                          |     |             |                                                                    |   |     |                             |   |     |                            |     |             |
|                    |     |                                      Year |     | Reported summary compensation table |     |            | Reported value of equity awards |     |              | Equity award adjustments |     |             | Reported change in the actuarial present value of pension benefits |   |     | Pension benefit adjustments |   |     | Compensation Actually Paid |     |             |
|                    |     |                                        -a |     | -b)(1                               |     |            | -c)(2                           |     |              | -d)(3                    |     |             | -e                                                                 |   |     | -f                          |   |     |