01 02 Governance 03 04 Pension Purpose and link to strategy Operation Opportunity • Pension provision is the same for all • Pension provision will be in line with • The same arrangement applies to employees in Group in Georgia. Georgian pension legislation, which employees across the Group in Georgia. • The Company is required to comply may change from time to time. The most • In line with current Georgian legislation, with pension requirements set by the recent pension legislation that GHG must the Executive Director and the Group each Georgian Government. comply with has been in effect since contribute 2% of JSC GHG remuneration January 2019. and the Georgian Government may • There is no provision for the recovery contribute a further small amount (0-2% or withholding of pension payments. depending on income levels). • Pension contributions will only increase above this level if mandated by Georgian legislation or any other applicable legislation including in other jurisdictions. Benefits Purpose and link to strategy Operation Opportunity • Non-cash benefits are in line with • Benefits consist of: life insurance; health • There is no prescribed maximum on the Georgian market practice and are insurance; incapacity/disability insurance; value of benefits payable to an Executive designed to be sufficient to attract Directors’ and Officers’ liability insurance; Director. The maximum amount payable and retain high-calibre talent. tax gross-ups; physical examinations; depends on the cost of providing such company car and driver; mobile phone benefits to an employee in the location costs; personal security arrangements at which the Executive Director is based. (if requested by the Executive Director); • If the Executive Director’s personal and assistance with completing tax circumstances do not change and the returns (where required), relocation costs Group is able to obtain benefits on for Executive Director and close family substantially the same terms as at the and legal costs. date of the publication of this Policy, • Other benefits may be provided from the aggregate cost of benefits for an time to time if considered reasonable Executive Director during the Policy’s and appropriate. life is not expected to change materially. • There is no provision for the recovery or withholding of benefits. 93