Company: HBCYF
Filing Date: 2025-02-20
Form Type: 20-F
Source: 0001089113-25-000040
Chunk: 465

Company: HSBC HOLDINGS PLC
Filing Date: 2025-02-20
Form: 20-F
Chunk 465
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275,150 and £68,971 were incurred in relation to remuneration advice provided by Deloitte and Willis Towers Watson, respectively. This was based on pre-agreed fees and a time- and-materials basis. Committee performance review In 2024, the annual review of the performance of the Board committees, including the Committee, was conducted externally by IBE. On the basis of the review, the directors concluded that the Committee continued to operate effectively. Positive feedback was noted on the leadership of the Committee Chair and membership of the Committee, which was considered to have practical overlap of members with other Board committees, and an appropriate flow of information between Committee Chairs. The review highlighted the importance of both continuing to consider performance and pay for the wider workforce, and taking the opportunity to take a fresh look at the performance and pay approach in the context of changes to the employee value proposition. The outcomes of the evaluation have been reported to the Board, and the Committee will track the progress in implementing recommendations during 2025. Further details of the annual review of the Board and Committee effectiveness can be found on page 287 .

| HSBC Holdings plcAnnual Report on Form 20-F | 335 |

Additional remuneration disclosures This section provides further information in relation to executive Director and wider workforce remuneration as required by the UK, Hong Kong, and Pillar 3 remuneration disclosure requirements. For the purpose of the Pillar 3 remuneration disclosures, executive Directors and non- executive Directors are considered to be members of the management body. Members of the Group Executive Committee other than the executive Directors are considered as senior management. Link between risk, performance and reward Our remuneration practices promote sound and effective risk management to support our business objectives and the delivery of our strategy. We set out below the key features of our framework, which enable us to align between risk, performance and reward, subject to compliance with local laws and regulations:

| Frameworkelements                             | Application                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |
| Variable pay                                  | –Group variable pay is expected to reflect Group performance, based on a range of financial and non-financial factors. We use a structuredpayout ratio range, that varies the payout ratio with profits before tax, and a countercyclical funding methodology, with both a floor and aceiling, with the payout ratio generally reducing as performance increases to avoid pro-cyclicality. The floor recognises that even in challengingtimes, remaining competitive is important. The