SABMILLER PLC - SABMiller Confirmation of directorate change

SABMiller Confirmation of directorate change

SABMiller plc
JSEALPHA CODE: SAB
ISIN CODE: SOSAB
ISIN CODE: GB0004835483

SABMiller Confirmation of directorate change

23 July 2015

SABMiller plc confirms that Domenic De Lorenzo has today been appointed as an executive director
and as Chief Financial Officer, as previously announced on 8 July 2015.

Notes:
1.     Domenic De Lorenzo is not currently a director of any listed company. There is no
       information required to be disclosed pursuant to LR 9.6.13 (1) to (6) of the Listing Rules.

2.      Domenic’s remuneration on appointment as a director and as chief financial officer has been
        set in accordance with the company’s approved remuneration policy, and will consist of:

        a.     a base salary of £680,000 per annum;
        b.     retirement benefit defined contributions equal to 30% of his base salary;
        c.     other benefits as set out in the remuneration policy, including a car allowance of
               £17,150 per annum, and benefits in kind not expected to exceed £10,000 per annum in
               value representing the provision of family medical insurance and other miscellaneous
               benefits;
        d.     an annual bonus opportunity of up to a maximum of 120% of base pay, with 60% of
               base pay at target, and 30% of base pay at threshold; and
        e.     long term incentives in the form of share options and share awards in accordance with
               the approved remuneration policy.

3.      Domenic will be employed under a service contract with the company which may be
        terminated with not less than 12 months’ notice given by the company or by Domenic. A
        copy of his service contract will shortly be available for viewing at the company’s registered
        office or on the company’s website at www.sabmiller.com.

4.      On 1 June 2015, Domenic was awarded the following long term incentives:

        a.   Share options and stock appreciation rights over a total of 59,949 shares at an exercise
             price of £34.94 per share, subject to applicable performance conditions;
        b. A conditional award of 29,975 performance shares, subject to applicable adjusted
             earnings per share performance conditions; and
        c. A conditional award of 60 shares, of which one-third is capable of vesting for every
             £10 million of additional shareholder value created over three, four and five-year
             performance periods commencing 1 April 2015.
        These long term incentives were awarded in contemplation of Domenic’s services as an
        employee and as a member of the executive committee, rather than as, or in contemplation
        of appointment as, an executive director, but are disclosed for completeness. No additional
        long term incentives are intended to be awarded to Domenic during the financial year
        ending 31 March 2016 as, or in contemplation of appointment as, an executive director.
5.      The company’s approved remuneration policy requires executive directors other than the
        Chief Executive to own shares outright equivalent in value to 200% of base salary. As at
        23 July 2015, Domenic owns or is beneficially interested in 126,335 shares equivalent in
        value to 614% of his new base salary (based on the share price of £33.04 as at 30 June 2015).

Sponsor:
J.P. Morgan Equities South Africa (Pty) Ltd

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