Company: HBCYF
Filing Date: 2025-02-20
Form Type: 20-F
Source: 0001089113-25-000040
Chunk: 459

Company: HSBC HOLDINGS PLC
Filing Date: 2025-02-20
Form: 20-F
Chunk 459
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                                    |                     |            | 75.00%  |

1 Awards vest on a straight-line basis for performance between the minimum, target and maximum levels of performance set out in this table.

2 Assessed based on RoTE in the 2024 financial year. The CET1 capital ratio of 14.9% exceeded the level required by the underpin.

3 Assessed based on share of Group tangible equity (on a constant currency basis and excluding associates) allocated to Asia by 31 December 2024.

4 Carbon reduction assessed on percentage reduction in total energy and travel emissions achieved by 31 December 2024 using 2019 as the baseline. Sustainable

finance and investment assessed on cumulative financing provided over the performance period.

5 The peer group was: Bank of America, Barclays, BNP Paribas, Citigroup, DBS Group Holdings, Deutsche Bank, J.P. Morgan Chase & Co., Lloyds Banking Group,

Morgan Stanley, Standard Chartered and UBS Group. Credit Suisse Group was removed following its acquisition by UBS Group in June 2023.

| 330 | HSBC Holdings plcAnnual Report on Form 20-F |

Report of the Directors | Corporate governance report | Directors’ remuneration report

LTI awards over 2025 to 2027 performance period

After taking into account performance for 2024, and subject to

shareholder approval of the new policy, the Committee intends to

grant Georges Elhedery an LTI award of £ 9,000,000 and Pam Kaur an

LTI award of £ 5,250,000 (both 600% of base salary). The awards will

have a three -year performance period starting on 1 January 2025.

Alongside reviewing the policy, the Committee has undertaken a

comprehensive review of the performance measures used for our

incentive arrangements to ensure alignment to the Group's priorities

and balance delivery of financial and strategic performance.

For the 2025-2027 LTI, we will retain Group RoTE, relative TSR and

environment measures, reflecting our strategic commitments, and to

assess relative performance compared with peers.

We will increase the weighting of RoTE to 40% , r eflecting that the

delivery of a strong stable return on tangible equity is a core measure

of the sustainable returns expected by our investors. Group RoTE will

be assessed excluding notable items in the last year of assessment to

mirror our outlook on RoTE