Governance Report Remuneration Report continued Annual bonus scheme The 2021 bonus scheme was based on the achievement of performance targets linked to the Group’s strategic priorities. 70% of the bonus was payable by reference to performance against Group financial metrics, and the remaining 30% was payable by reference to key non-financial objectives. The specific financial metrics are set out in the table below. Weighting (% of total bonus) Targets Achievement Gross profit (net revenue) 35% 25% growth on like-for-like basis vs FY20 44.0% EBITDA margin 35% 20% as percentage of gross profit 18.4% For the 30% of the bonus subject to non-financial objectives, targets were set based on the ongoing integration of businesses within S4Capital and key ESG measures, as summarised below. Weighting Objective (% of total bonus) Achievements Score Integration Rebranding 5% • Superb planning and execution of Media.Monks 5% branding (launched August 2021). • Successful internal rollout of new branding and full support from clients (no negative client impact). Development of 5% • Ongoing integration of key systems and 2.5% software systems processes across the business and enhanced development of sales and communications platforms. • However, some work outstanding on full implementation of HR systems. Optimal use of property 5% • Ongoing consolidation of key office locations. 2.5% • Further work required in other jurisdictions. 202 strategy 5% • Excellent progress made, with additional 5% ‘whoppers’ won (Meta and HP). • Generation of strong pipeline of additional opportunities to further expand number of whopper accounts in 2022. ESG Climate 5% • Reached carbon neutral status mid-2021 for 5% 2020 through unofficial reforestation programmes (offsetting), two years ahead of expectations. • Passed the preliminary scope for B Corp accreditation. • Increased For Good projects from 0.5% of net revenue (2020) to 1.8% of net revenue (2021) in ambition to sign the pledge 1%. Diversity and inclusion 5% • Continued expansion of hiring, education and 2.5% development programmes. • Diversity embedded across wider workforce (e.g. overall split of 49% women/51% men globally; 41% people of colour across US businesses). • However, further work required to increase levels of female and black representation at senior levels (currently only 3% black in senior US roles, and 39% women in senior roles globally). 82 S4Capital Annual Report and Accounts 2021