Future PLC

Remuneration Information • Apr 16, 2021

National Storage Mechanism | Additional information

RNS Number : 7248V

Future PLC

16 April 2021

Date: 16 April 2021

Future plc

(the "Company")

Director/PDMR holding

The Company announces that an award of units under the Value Creation Plan to employees across the Company, including the two Executive Directors, was made on 14 April 2021.

Units will vest based on value created in terms of £ Total Shareholder Return (TSR), being the growth in Future's market capitalisation plus net equity cashflows to shareholders (i.e. dividends plus share buybacks, less share issues), over and above a hurdle rate of return of 10% per annum. Future's starting market capitalisation (£1,903m) is based on the spot closing price of a share on 30 September 2020 (£19.42). Value created at each measurement date will be calculated with reference to the average closing return index over the three months ending on that date. To the extent that performance exceeds the hurdle on a measurement date, participants will share 3.33% of the additional shareholder value created above the hurdle. Participants will be allocated an individual share of this amount, reflecting the number of units they hold. These amounts will be converted into a number of Future plc shares, based on the share price at the relevant vesting date. The aggregate additional shareholder value created and allocated to participants is capped at £95m per tranche. To the extent that performance does not exceed the hurdle on a measurement date, the relevant tranche will lapse in full, immediately. There will be no re-testing allowed. The awards are subject to malus and clawback provisions.

Additionally, for Executive Directors:

-    Any shares awarded in respect of the first tranche (measurement date 30 September 2023) will be subject to a mandatory two-year holding period

-    Any shares awarded in respect of the second tranche (measurement date 30 September 2024) will be subject to a mandatory one-year holding period

The ultimate release of any shares will be subject to the Committee satisfying itself that the recorded outcome is a fair reflection of the underlying business performance over the period.

Details of the awards to the Executive Directors are as follows:

Name	Number of units awarded	Performance period	Vesting date
Zillah Byng-Thorne	140,000 (first tranche)	1 October 2020 to: 30 September 2023	The first Dealing Day after the announcement of the FY23 results
Zillah Byng-Thorne	140,000 (second tranche)	1 October 2020 to 30 September 2024	The first Dealing Day after the announcement of the FY24 results
Zillah Byng-Thorne	140,000 (third tranche)	1 October 2020 to 30 September 2025	The first Dealing Day after the announcement of the FY25 results
Rachel Addison	63,000 (first tranche)	1 October 2020 to: 30 September 2023	The first Dealing Day after the announcement of the FY23 results
Rachel Addison	63,000 (second tranche)	1 October 2020 to 30 September 2024	The first Dealing Day after the announcement of the FY24 results
Rachel Addison	63,000 (third tranche)	1 October 2020 to 30 September 2025	The first Dealing Day after the announcement of the FY25 results

Enquiries:

Future plc Zillah Byng-Thorne, Chief Executive Officer Rachel Addison, Chief Financial Officer Marion Le Bot, Head of Investor Relations	Tel: +44 (0)1225 442244
Headland Consultancy (Financial PR) Stephen Malthouse Rob Walker Charlie Twigg future@headlandconsultancy.com	Tel: +44 (0)20 3805 4822 +44 (0)7734 956 201 +44 (0)77 9195 8922

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