Company: HBCYF
Filing Date: 2025-02-20
Form Type: 20-F
Source: 0001089113-25-000040
Chunk: 50

Company: HSBC HOLDINGS PLC
Filing Date: 2025-02-20
Form: 20-F
Chunk 50
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eration policy and the Chair of the Committee met with many shareholders directly. Shareholders we spoke to were generally supportive of our proposal and their feedback has directly influenced the final policy. We would like to thank our shareholders for the time taken to engage with us during the year. For details of our proposed executive Director remuneration policy, see page 314 . 2024 remuneration decisions The Committee considered carefully the wider context in which performance was delivered in 2024 and judged that the overall scorecard outcome for both Sir Noel Quinn and Georges Elhedery was appropriate against the targets set at the start of the year for financial, strategic and personal measures. The Committee also carefully considered the executive Directors’ pay outcomes in the context of pay decisions made for the wider workforce and determined that these were an appropriate reflection of Group, business and individual performance delivered in 2024. Executive Directors’ scorecard outcomes (% of maximum opportunity) 2024 annual incentive

| Sir Noel Quinn   | 77.81% |
| Georges Elhedery | 78.79% |

2022–2024 long-term incentive

| Sir Noel Quinn   | 75.00% |
| Georges Elhedery | 75.00% |

For details of Directors’ pay and performance for 2024, see the Directors’ remuneration report on page 326 .

Remuneration for our colleagues Our focus remains on taking actions that improve our ability to attract, retain and energise colleagues to deliver high performance and growth. Rewarding colleagues responsibly Fixed pay increases for 2025 were determined based on consistent principles to help address wage inflation in the markets where we operate. We will award an average global fixed pay increase of 3.6% in 2025, compared with 4.4% for the previous year, reflecting that projected wage inflation is lower in many of our markets. We continue to review all wages globally against local Living Wage benchmarks to help ensure we pay responsibly and provide financial security to colleagues. We are proud to have been certified by the Fair Wage Network as a global Living Wage employer for 2025. Recognising colleagues’ success We introduced new performance routines and changes to performance assessment for over 200,000 colleagues in 58 markets. We also introduced a new variable pay structure for over 150,000 colleagues, providing more clarity around variable pay levels for on-target performance, and how this is impacted by Group, business and individual performance. The Group Remuneration Committee determined overall variable pay of $3,800m