EBA REPORT ON HIGH EARNERS

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1 EBA REPORT ON HIGH EARNERS DATA AS OF END 2017 LONDON - 11/03/2019 1

2 Data on high earners List of figures 3 Executive summary 4 1. Data on high earners Background Data collected on high earners 6 2. The EBA s other work on remuneration 7 3. Remuneration for high earners 8 Annex I High earners aggregated data at the EU level 14 Annex II High earners aggregated data by Member State 15 Annex III High earners aggregated data by Member State and payment bracket 21 2

3 List of figures Figure 1: Development of the number of high earners and the EUR-GBP exchange rate 10 Figure 2: Number of high earners by Member State (values shown refer to 2017) (logarithmic scale) 10 Figure 3: Number of high earners in the EU and high earners who are identified staff 11 Figure 4: Number of high earners in the EU and high earners who are identified staff, by business area or, as of end 2017 and the percentage of high earners who were identified staff in Figure 5: Percentage of high earners who are identified staff, by Member State (values shown only where not at 100%; values in the graph refer to 2017) 12 Figure 6: Ratio of variable to fixed remuneration for high earners, by Member State (values shown in the graph refer to 2017) 13 3

4 Executive summary Under Directive 2013/36/EU (CRD IV), the European Banking Authority (EBA) is required to publish aggregated data on high earners earning EUR 1 million or more per financial year. The competent authorities are responsible for collecting the relevant information from credit institutions and investment firms and for submitting it to the EBA. The EBA has analysed the data provided to it for the year 2017, and compared it to the 2016 data. The main results of this analysis are as follows: - the number of high earners who have been awarded EUR 1 million or more in annual remuneration slightly increased for 2017, from in 2016 to in 2017 (+5.69%). The exchange rate between EUR and GBP continue to have an effect on the number of high earners, leading to a slight increase in the staff income paid in GBP when expressed in EUR. - Around 87% of high earners were staff whose professional activities have a material impact on the institution s risk profile identified staff in 2017 compared with 89% in Although a small decrease, this confirms that the percentage increased significantly after the regulatory technical standards (RTS) on identified staff entered into force in Nevertheless, not all high earners are considered identified staff. The EBA will continue to benchmark remuneration trends (for the performance years 2018) in the first quarter of 2020 and will continue to publish data on high earners annually in order to closely monitor and evaluate developments in this area. 4

5 Distribution of high earners by payment bracket and Member State 1 Country PB001 PB002 PB003 PB004 PB005 PB006 PB007 PB008 PB009 PB010 PB011 PB012 PB013 PB014 PB015 PB016 PB017 PB022 PB040 AT BE CY DE DK ES FI 3 3 FR GB HR 1 1 HU IE IT LI LU NL NO PL PT RO 2 2 SE Numbers are shown by payment bracket of EUR 1 million 5

6 1. Data on high earners 1.1 Background 1. In accordance with Article 75(3) of Directive 2013/36/EU (CRD IV), home Member States competent authorities are required to collect information on the number of individuals per institution who are remunerated at EUR 1 million or more per financial year (high earners. The information is divided into payment brackets of EUR 1 million and includes the business area involved and the main elements of salary, bonus, long-term awards and pension contributions. The EBA has issued guidelines to facilitate the collection of data. These guidelines were updated in July 2014 to ensure that the data reflect changes to the requirements on remuneration under CRD IV including information on the responsibilities of high earners, which was not covered in previous data collections allowing a more granular analysis of the data reported. This data collection applies only to staff whose activities are carried out predominantly within the European Union (EU), including some European Economic Area Member States (Norway and Liechtenstein, but excluding Iceland). The EBA publishes these data on an aggregated home Member State basis in a common reporting format. All the Member States participated in the data collection. 2. Under CRD IV, for identified staff a maximum ratio of 100% (200% with shareholders approval) between the variable and the fixed component of the total remuneration (the so-called bonus cap) was introduced, which applies to remuneration awarded for the performance year 2014 and onwards. 3. The previous report, published on 10 April 2018, included benchmarking of remuneration practices and data on high earners based on 2016 figures. The present report covers data on high earners for 2017 that were reported to the EBA by the national competent authorities at the end of August Data collected on high earners 4. Data on high earners were collected from all Member States at the highest consolidated level, excluding staff predominantly active in third countries. The data cover all staff of institutions and EU branches in third-country institutions receiving a total remuneration of EUR 1 million or more. Data were collected separately for each Member State (data on high earners working in branches or subsidiaries located in Member State A but belonging to an institution or parent institution located in Member State B are presented under Member State A). 5. The EBA has aggregated the numbers of high earners by Member State and analysed their development. Aggregated data on high earners are included in this report in Annex I at the EU level 6

7 and in Annex II for each Member State; Annex III contains data on high earners in each Member State broken down by payment bracket. 2. The EBA s other work on remuneration 6. The EBA will continue to benchmark remuneration trends biennially (e.g. for the performance years 2017 and 2018, a benchmarking exercise will take place in 2019 and will be published in the first quarter of 2020). The EBA will continue to publish data on high earners annually to closely monitor and evaluate developments in this area. In addition, a review of the application of the RTS on identified staff is planned and will be published in the second half of

8 3. Remuneration for high earners Main findings The number of high earners receiving remuneration of more than EUR 1 million increased slightly from in 2016 to in 2017 (+5.69%). Compared with previous years, the exchange rate between EUR and GBP did not have as has been observed in previous years - a significant influence on the number of high earners. The largest population of high earners in the EU, of (73.41% of the total number of high earners), is located in the United Kingdom (UK); in the UK only a small increase of 38 high earners has been observed compared with The overall increase of 262 high earners is mainly due to an increase in high earners in several Member States, while in a few other Member States the number of high earners slightly decreased (Cyprus, Denmark, Greece, Ireland, Luxembourg, Latvia, Romania and Sweden). The percentage of high earners that are identified staff went down slightly: 86.89% in 2017 compared with 89.47% in 2016, comparable to 2014 (86.68%). The average ratio of variable to fixed remuneration for all high earners in the EU has continued to fall from 104% in 2016 to 101% in 2017 (118% in 2015; 123% in 2014). In the business area of asset management, the average ratio of variable to fixed remuneration increased from 358% in 2016 to 402% in 2017, still far exceeding the maximum ratio of 200%. Several Member States allow the application of waivers for staff in this business area, although CRD IV does not explicitly provide for this possibility High earners are staff who were remunerated EUR 1 million or more in the previous financial year. Commission Delegated Regulation (EU) No 604/ (RTS on identified staff) requires that all staff awarded EUR or more in the past performance period are treated as identified staff, unless they are excluded from that category. For staff earning EUR 1 million or more, such exclusions can be approved only in exceptional circumstances, with the condition that institutions have demonstrated that such staff members have, in fact, no material impact on the risk profile of the institution. The EBA will ensure that there is a consistent application of such exclusions, which need to be justified based on the individual case. 9. While all the Members States participated in the data collection, high earners were reported for only 21 Member States. The number of high earners per country ranged from 1 to As expected, most high earners received remuneration within the payment bracket from EUR 1 million to EUR 2 million. The highest payment bracket observed was that of EUR 40 million to EUR 41 million, the highest level since In 2017, compared with 2016, the percentage of high earners identified as staff whose professional activities have a material impact on the institution s risk profile (identified staff) slightly decreased to around 86.89% similar to the level observed in However, not all high earners were identified staff. For example, one would have expected, that all members of the management body 2 Please refer also to the EBA s Opinion on proportionality in the area of remuneration. 3 Commission Delegated Regulation (EU) No 604/2014 of 4 March 2014 supplementing Directive 2013/36/EU of the European Parliament and of the Council with regard to the RTS on qualitative and appropriate quantitative criteria to identify categories of staff whose professional activities have a material impact on an institution s risk profile. 8

9 in its management are identified staff, but only 88.15% of them are considered identified staff. There are various reasons for this: a. Some Member States have waived the requirement to identify staff in small institutions, although the EU legal framework (CRD IV, the RTS on identified staff and the EBA Guidelines on sound remuneration policies) requires institutions to carry out the identification process. b. For practical reasons, the definition of the amounts used to define high earners deviates slightly from the one used to determine if a staff member is identified staff, leading to a situation where not all high earners are identified staff. When calculating the quantitative criteria under the RTS, the fixed remuneration for the previous financial year (e.g. 2017) is combined with the variable remuneration awarded in that year (e.g. in 2017) for the preceding year (e.g. 2016). This is to ensure that the criteria can be applied at the beginning of the financial year, and that institutions can change their remuneration packages for newly identified staff for the relevant performance period in which those staff are identified for the first time (e.g. based on 2017 figures, staff are identified for the performance year 2018). Conversely, for the definition of high earners, fixed remuneration (e.g. for 2017) and variable remuneration for the same financial year (e.g. 2017) are combined, even if the variable remuneration is determined and awarded only in the following year (e.g. in early 2018). Because of this difference, newly employed high earners may not be identified staff in the first year of employment if they are not identified under the qualitative criteria. In addition, the exchange rates applied for currency conversions in the above calculations may differ. c. Very few exclusions of high earners from the category of identified staff have been approved by competent authorities. 11. The total number of high earners in the EU slightly increased from in 2016 to in 2017 (+5.69%). The total number of high earners increased by more than one third, from in 2010 to in 2017 (+41.78%). 12. The largest population of high earners in the EU, of (2016: 3 529; 2015: 4 133; 2014: 2 926), is located in the UK (+1.07% compared with 2016; % compared with 2014) and represents 73.41% of the total number of high earners (most of whom are remunerated in GBP). As the definition of a high earner is based on the amount of EUR 1 million, the exchange rate between EUR and GBP continued to have an impact on the overall development in the number of high earners in 2017 although it was minor in that year (see Figure 1). Despite the decreasing value of GBP, a small increase in the number of high earners has been observed in the UK. 9

10 AT BE BG CY CZ DE DK EE EL ES FI FR HR HU IC IE IT LT LI LU LV MT NL NO PL PT RO SE SI SK UK Figure 1: Development of the number of high earners and the EUR-GBP exchange rate number of high earners EUR-GBP FX rate, December The number of high earners increased in most Member States, except for Cyprus, Denmark, Greece, Ireland, Luxembourg, Latvia, Romania and Sweden where the number of high earners slightly decreased as shown in Figure 2 below. A significant increase can be observed in Norway (No) where the number of high earners more than doubled from 12 in 2016 to 25 in 2017 ( %). Strong growth rates for the number of high earners have also been observed in Germany (DE) from 253 in 2016 to 390 in 2017 (+54.15%), in Italy (IT) from 172 in 2016 to 201 in 2017 (+16.86%), in Austria from 43 in 2016 to 50 in 2017 (+16.28%), in France from 205 in 2016 to 233 in 2017 (+13.66%) and in Spain (ES) from 152 in 2016 to 161 in 2017 (+5.92%). Figure 2: Number of high earners by Member State (values shown refer to 2017) (logarithmic scale)

11 14. The percentage of high earners who are considered to be identified staff has slightly decreased, and represents 86.89% of all high earners (2016: 89.47%) (see Figure 3). Figure 3: Number of high earners in the EU and high earners who are identified staff Year number of high earners Identified staff thereof Percentage of high earners who are identified staff % % % % % % % % 15. The proportion of high earners considered to have a material impact on the institution s risk profile has increased overall after the coming into force of the RTS on identified staff and it has remained relatively stable since However, in 2017, in all the business areas except the management body in its supervisory, asset management and independent control s, the proportion of high earners considered to have a material impact on the institution s risk profile within the institution has slightly decreased compared with 2016 (Figure 4). For staff that have not be assigned to a specific business (shown under all other s ), the proportion has significantly decreased, from 51.53% to 43.81%, dropping below the percentage that was observed for 2013 (53.23%). The proportion increased for staff in the business area of asset management, from 80.84% in 2016 to 93.75% in The supervisory framework for remuneration practices is still not sufficiently harmonised; this is mainly due to differences in the national implementation of CRD IV, which in many cases allows for waivers of some of the provisions including the identification of identified staff when certain specific criteria are met. This raises concerns about the correct application of the RTS on identified staff. The EBA is currently reviewing the application of the RTS on identified staff and the outcome will be published in the second half of

12 AT BE BG CY CZ DE DK EE EL ES FI FR HR HU IC IE IT LT LI LU LV MT NL NO PL PT RO SE SI SK UK Figure 4: Number of high earners in the EU and high earners who are identified staff, by business area or, as of end 2017 and the percentage of high earners who were identified staff in 2016 number of high earners Identified staff thereof Percentage of high earners who are identified staff Business area MB 4 supervisory % 81.25% MB management % 89.61% Investment % 94.08% Retail % 97.69% Asset management % 80.84% Corporate s % 96.73% Independent control s % 97.58% All other % 51.53% 16. In seven Member States, all high earners are identified staff, while in the other Member States the percentage of identified staff ranged between 60% and 98% (see Figure 5). Figure 5: Percentage of high earners who are identified staff, by Member State (values shown only where not at 100%; values in the graph refer to 2017) 100% 90% 80% 70% 60% 92% 82% 88% 98% 96% 100% 100% 100% % 93% 90% 84% 78% 79% 71% 60% 100% 100% 100% 91% 89% 50% 40% 30% 20% 10% 0% 4 Management body (MB) in its supervisory. 12

13 EU AT BE BG CY CZ DE DK EE EL ES FI FR HR HU IE IC IT LI LT LU LV MT NL NO PL PT RO SE SI SK UK 17. For high earners, the EBA calculated the ratio of the variable component to the fixed component of total remuneration. 18. The simple average of the ratio of variable to fixed remuneration for high earners per Member State (Figure 6) decreased from 104% in 2016 to % in When calculated as an average of all high earners, the ratio increased from 132% in 2016 to 142 % in 2017 (147% in 2015 and 127% in 2014). For Norway (NO), a ratio higher than 200% can be observed. At individual level, the ratio of variable to fixed remuneration in the area of asset management as been as high as 11940%. Figure 6: Ratio of variable to fixed remuneration for high earners, by Member State (values shown in the graph refer to 2017) 5 450% % 350% 300% 250% 200% 150% 100% 50% 125% 97% 101% 165% 151% 106% 100% 69% 79% 56% 62% 43% 73% 189% 104% 83% 205% 129% 62% 25% 30% 163% 0% 5 EU average calculated as a simple average of the ratio observed in the Member States for which high earners were reported. The calculation of the bonus, the deferral ratio and the payout in instruments considers the full amount of certain concepts such as severance payments or guaranteed variable remuneration that in some cases and in line with the EBA GLs on sound remuneration policies can be excluded from these ratios 13

14 Annex I Aggregated data on high earners at the EU level figures per / business area MB Supervisory MB Management Investment Retail Asset management Corporate s Independent control s All other number of high earners of which: "Identified Staff" fixed remuneration (in EUR) variable remuneration (in EUR) amount of variable remuneration awarded in year N which has been deferred (in EUR) Average total remuneration per individual (in EUR) Ratio variable/fixed 85% 123% 127% 116% 402% 122% 92% 211% 142% Ratio of deferred/total variable 50% 52% 65% 57% 42% 54% 58% 19% 55% Ratio of variable remuneration paid in instruments/total variable remuneration in % 44% 51% 58% 53% 28% 52% 60% 23% 50% 14

15 Annex II Aggregated data on high earners by Member State MB Supervisory MB Management Investment Retail Asset management Corporate s Independent control s number of high earners of which: "Identified Staff" fixed remuneration (in EUR) variable remuneration (in EUR) amount of variable remuneration awarded in year N which has been AUSTRIA figures per / business area All other Average total remuneration per individual (in EUR) Ratio variable/fixed. 113% 118% 206% 143% 177%.. 125% Ratio of deferred/total variable remuneration in %. 87% 100% 54% 68% 67%.. 81% Ratio of variable remuneration paid in instruments/total variable. 83% 100% 53% 68% 65%.. 78% MB Supervisory MB Management Investment Retail Asset management Corporate s Independent control s number of high earners of which: "Identified Staff" fixed remuneration (in EUR) variable remuneration (in EUR) amount of variable remuneration awarded in year N which has been BELGIUM figures per / business area All other Average total remuneration per individual (in EUR) Ratio variable/fixed. 78% 155% 31% 171% 478% 332%. 97% Ratio of deferred/total variable remuneration in %. 38% 47% 59% 61% 0% 0%. 38% Ratio of variable remuneration paid in instruments/total variable. 31% 48% 48% 81% 0% 0%. 35% MB Supervisory MB Management Investment Retail Asset management Corporate s Independent control s number of high earners of which: "Identified Staff" fixed remuneration (in EUR) variable remuneration (in EUR) amount of variable remuneration awarded in year N which has been CROATIA figures per / business area All other Average total remuneration per individual (in EUR) Ratio variable/fixed % % Ratio of deferred/total variable remuneration in %... 40% % Ratio of variable remuneration paid in instruments/total variable... 50% % 15

16 MB Supervisory MB Management Investment Retail Asset management Corporate s Independent control s number of high earners of which: "Identified Staff" fixed remuneration (in EUR) variable remuneration (in EUR) amount of variable remuneration awarded in year N which has been CYPRUS figures per / business area All other Average total remuneration per individual (in EUR) Ratio variable/fixed. 25% % 43% Ratio of deferred/total variable remuneration in %. 60% % 47% Ratio of variable remuneration paid in instruments/total variable. 50% % 39% MB Supervisory MB Management Investment Retail Asset management Corporate s Independent control s number of high earners of which: "Identified Staff" fixed remuneration (in EUR) variable remuneration (in EUR) amount of variable remuneration awarded in year N which has been DENMARK figures per / business area All other Average total remuneration per individual (in EUR) Ratio variable/fixed. 21% 79%. 125% 27% 104%. 56% Ratio of deferred/total variable remuneration in %. 57% 58%. 44% 45% 60%. 51% Ratio of variable remuneration paid in instruments/total variable. 64% 41%. 32% 47% 50%. 42% MB Supervisory MB Management Investment FINLAND figures per / business area Retail Asset management Corporate s Independent control s number of high earners of which: "Identified Staff" fixed remuneration (in EUR) variable remuneration (in EUR) amount of variable remuneration awarded in year N which has been Average total remuneration per individual (in EUR) Ratio variable/fixed. 74% 64%... 52%. 62% Ratio of deferred/total variable remuneration in %. 60% 80%... 80%. 73% Ratio of variable remuneration paid in instruments/total variable. 80% 50%... 80%. 70% All other MB Supervisory MB Management Investment FRANCE figures per / business area Retail Asset management Corporate s Independent control s number of high earners of which: "Identified Staff" fixed remuneration (in EUR) variable remuneration (in EUR) amount of variable remuneration awarded in year N which has been Average total remuneration per individual (in EUR) Ratio variable/fixed 77% 157% 149% 152% 329% 172% 112% 471% 165% Ratio of deferred/total variable remuneration in % 49% 56% 52% 50% 53% 64% 60% 20% 52% Ratio of variable remuneration paid in instruments/total variable 30% 43% 44% 49% 37% 56% 53% 15% 43% All other 16

17 MB Supervisory MB Management Investment Retail Asset management Corporate s Independent control s number of high earners of which: "Identified Staff" fixed remuneration (in EUR) variable remuneration (in EUR) amount of variable remuneration awarded in year N which has been GERMANY figures per / business area All other Average total remuneration per individual (in EUR) Ratio variable/fixed. 36% 131% 122% 152% 90% 56% 390% 69% Ratio of deferred/total variable remuneration in. 44% 57% 37% 52% 51% 50% 9% 47% Ratio of variable remuneration paid in instruments/total variable. 34% 43% 31% 46% 36% 42% 9% 36% MB Supervisory MB Management Investment HUNGARY figures per / business area Retail Asset management Corporate s Independent control s number of high earners of which: "Identified Staff" fixed remuneration (in EUR) variable remuneration (in EUR) amount of variable remuneration awarded in year N which has been Average total remuneration per individual (in EUR) Ratio variable/fixed.. 136% 58%. 75%.. 79% Ratio of deferred/total variable remuneration in.. 100% 60%. 60%.. 72% Ratio of variable remuneration paid in instruments/total variable.. 50% 50%. 50%.. 50% All other MB Supervisory MB Management Investment Retail Asset management Corporate s Independent control s number of high earners of which: "Identified Staff" fixed remuneration (in EUR) variable remuneration (in EUR) amount of variable remuneration awarded in year N which has been IRELAND figures per / business area All other Average total remuneration per individual (in EUR) Ratio variable/fixed 119% 125% 126% 56% 389% 213%.. 151% Ratio of deferred/total variable remuneration in % 30% 22% 25% 54% 51% 45%.. 33% Ratio of variable remuneration paid in instruments/total variable 30% 22% 22% 70% 51% 45%.. 33% MB Supervisory MB Management Investment Retail Asset management Corporate s Independent control s number of high earners of which: "Identified Staff" fixed remuneration (in EUR) variable remuneration (in EUR) amount of variable remuneration awarded in year N which has been ITALY figures per / business area All other Average total remuneration per individual (in EUR) Ratio variable/fixed 9% 98% 73% 70% 174% 150% 61% 38% 73% Ratio of deferred/total variable remuneration in % 20% 59% 56% 53% 47% 63% 41% 42% 55% Ratio of variable remuneration paid in instruments/total variable 0% 56% 44% 44% 42% 52% 33% 30% 45% 17

18 MB Supervisory MB Management Investment Retail Asset management Corporate s Independent control s number of high earners of which: "Identified Staff" fixed remuneration (in EUR) variable remuneration (in EUR) amount of variable remuneration awarded in year N which has been LIECHTENSTEIN figures per / business area All other Average total remuneration per individual (in EUR) Ratio variable/fixed 206% 131% % Ratio of deferred/total variable remuneration in % 60% 75% % Ratio of variable remuneration paid in instruments/total variable 52% 75% % MB Supervisory MB Management Investment Retail Asset management Corporate s Independent control s number of high earners of which: "Identified Staff" fixed remuneration (in EUR) variable remuneration (in EUR) amount of variable remuneration awarded in year N which has been LUXEMBOURG figures per / business area All other Average total remuneration per individual (in EUR) Ratio variable/fixed. 108%. 145% 130% 28%. 75% 104% Ratio of deferred/total variable remuneration in %. 58%. 13% 34% 40%. 74% 50% Ratio of variable remuneration paid in instruments/total variable. 48%. 12% 50% 50%. 60% 46% MB Supervisory MB Management Investment Retail Asset management Corporate s Independent control s number of high earners of which: "Identified Staff" fixed remuneration (in EUR) variable remuneration (in EUR) amount of variable remuneration awarded in year N which has been NETHERLANDS figures per / business area All other Average total remuneration per individual (in EUR) Ratio variable/fixed. 36% 130% 101%. 262%. 138% 83% Ratio of deferred/total variable remuneration in %. 39% 42% 3%. 13%. 0% 28% Ratio of variable remuneration paid in instruments/total variable. 24% 41% 3%. 9%. 0% 22% MB Supervisory MB Management Investment 18 Retail Asset management Corporate s Independent control s number of high earners of which: "Identified Staff" fixed remuneration (in EUR) variable remuneration (in EUR) amount of variable remuneration awarded in year N which has been NORWAY figures per / business area All other Average total remuneration per individual (in EUR) Ratio variable/fixed. 146% 264%. 80% 51%.. 205% Ratio of deferred/total variable remuneration in %. 35% 7%. 80% 14%.. 12% Ratio of variable remuneration paid in instruments/total variable. 35% 4%. 50% 54%.. 10%

19 MB Supervisory MB Management Investment Retail Asset management Corporate s Independent control s number of high earners of which: "Identified Staff" fixed remuneration (in EUR) variable remuneration (in EUR) amount of variable remuneration awarded in year N which has been POLAND figures per / business area All other Average total remuneration per individual (in EUR) Ratio variable/fixed. 96% 157% 105% % 129% Ratio of deferred/total variable remuneration in %. 70% 62% 50%... 0% 39% Ratio of variable remuneration paid in instruments/total variable. 48% 70% 50%... 22% 43% MB Supervisory MB Management Investment Retail Asset management Corporate s Independent control s number of high earners of which: "Identified Staff" fixed remuneration (in EUR) variable remuneration (in EUR) amount of variable remuneration awarded in year N which has been PORTUGAL figures per / business area All other Average total remuneration per individual (in EUR) Ratio variable/fixed. 0%. 199% % Ratio of deferred/total variable remuneration in %... 45% % Ratio of variable remuneration paid in instruments/total variable... 50% % MB Supervisory MB Management Investment Retail Asset management Corporate s Independent control s number of high earners of which: "Identified Staff" fixed remuneration (in EUR) variable remuneration (in EUR) amount of variable remuneration awarded in year N which has been ROMANIA figures per / business area All other Average total remuneration per individual (in EUR) Ratio variable/fixed. 30% % Ratio of deferred/total variable remuneration in %. 60% % Ratio of variable remuneration paid in instruments/total variable. 77% % MB Supervisory MB Management Investment Retail Asset management Corporate s Independent control s number of high earners of which: "Identified Staff" fixed remuneration (in EUR) variable remuneration (in EUR) amount of variable remuneration awarded in year N which has been SPAIN figures per / business area All other Average total remuneration per individual (in EUR) Ratio variable/fixed 0% 87% 121% 114% 424% 106% 83%. 106% Ratio of deferred/total variable remuneration in %. 58% 54% 53% 16% 37% 54%. 49% Ratio of variable remuneration paid in instruments/total variable. 51% 51% 43% 17% 35% 49%. 44% 19

20 MB Supervisory MB Management Investment Retail Asset management Corporate s Independent control s number of high earners of which: "Identified Staff" fixed remuneration (in EUR) variable remuneration (in EUR) amount of variable remuneration awarded in year N which has been SWEDEN figures per / business area All other Average total remuneration per individual (in EUR) Ratio variable/fixed. 30% 96% 68% 70% 0% 56%. 62% Ratio of deferred/total variable remuneration in %. 63% 57% 87% 80%. 80%. 61% Ratio of variable remuneration paid in instruments/total variable. 68% 40% 68% 80%. 80%. 49% MB Supervisory MB Management Investment Retail Asset management Corporate s Independent control s number of high earners of which: "Identified Staff" fixed remuneration (in EUR) variable remuneration (in EUR) amount of variable remuneration awarded in year N which has been UNITED KINGDOM figures per / business area All other Average total remuneration per individual (in EUR) Ratio variable/fixed 98% 203% 128% 128% 452% 124% 97% 296% 163% Ratio of deferred/total variable remuneration in % 35% 50% 68% 65% 42% 59% 61% 18% 56% Ratio of variable remuneration paid in instruments/total variable 46% 52% 61% 64% 26% 60% 64% 23% 51% 20

21 Annex III Aggregated data on high earners by Member State and payment bracket AUSTRIA Payment bracket for to below Euro figures per / business area management s s All other number of high earners of which: "Identified Staff" fixed remuneration (in EUR) variable remuneration (in EUR) amount of variable remuneration awarded in year N which has been Average total remuneration per individual (in EUR) Ratio variable/fixed. 56% 94% 206% 143% 161%.. 98% Ratio of deferred/total variable. 54% 100% 54% 68% 72%.. 64%. 36% 100% 53% 68% 70%.. 57% Payment bracket for to below Euro figures per / business area management s s All other number of high earners of which: "Identified Staff" fixed remuneration (in EUR) variable remuneration (in EUR) amount of variable remuneration awarded in year N which has been Average total remuneration per individual (in EUR) Ratio variable/fixed. 35% 154% % Ratio of deferred/total variable. 36% 100% %. 23% 100% % Payment bracket for to below Euro figures per / business area management s s All other number of high earners of which: "Identified Staff" fixed remuneration (in EUR) variable remuneration (in EUR) amount of variable remuneration awarded in year N which has been Average total remuneration per individual (in EUR) Ratio variable/fixed. 84% %.. 154% Ratio of deferred/total variable. 60%... 55%.. 56%. 50%... 53%.. 52% Payment bracket for to below Euro figures per / business area management s s All other number of high earners of which: "Identified Staff" fixed remuneration (in EUR) variable remuneration (in EUR) amount of variable remuneration awarded in year N which has been Average total remuneration per individual (in EUR) Ratio variable/fixed. 200% % Ratio of deferred/total variable. 100% %. 100% % 21

22 Payment bracket for to below Euro figures per / business area management s s All other number of high earners of which: "Identified Staff" fixed remuneration (in EUR) variable remuneration (in EUR) amount of variable remuneration awarded in year N which has been Average total remuneration per individual (in EUR) Ratio variable/fixed. 200% % Ratio of deferred/total variable. 100% %. 100% % Payment bracket for to below Euro figures per / business area management s s All other number of high earners of which: "Identified Staff" fixed remuneration (in EUR) variable remuneration (in EUR) amount of variable remuneration awarded in year N which has been Average total remuneration per individual (in EUR) Ratio variable/fixed. 200% % Ratio of deferred/total variable. 100% %. 100% % Payment bracket for to below Euro figures per / business area management s s All other number of high earners of which: "Identified Staff" fixed remuneration (in EUR) variable remuneration (in EUR) amount of variable remuneration awarded in year N which has been Average total remuneration per individual (in EUR) Ratio variable/fixed. 200% % Ratio of deferred/total variable. 100% %. 100% % Payment bracket for to below Euro figures per / business area management s s All other number of high earners of which: "Identified Staff" fixed remuneration (in EUR) variable remuneration (in EUR) amount of variable remuneration awarded in year N which has been Average total remuneration per individual (in EUR) Ratio variable/fixed. 200% % Ratio of deferred/total variable. 100% %. 100% % 22

23 BELGIUM Payment bracket for to below Euro figures per / business area management s s All other number of high earners of which: "Identified Staff" fixed remuneration (in EUR) variable remuneration (in EUR) amount of variable remuneration awarded in year N which has been Average total remuneration per individual (in EUR) Ratio variable/fixed. 54% 119% 31% 171% 478% 332%. 72% Ratio of deferred/total variable. 54% 45% 59% 61% 0% 0%. 43%. 44% 41% 48% 81% 0% 0%. 38% Payment bracket for to below Euro figures per / business area management s s All other number of high earners of which: "Identified Staff" fixed remuneration (in EUR) variable remuneration (in EUR) amount of variable remuneration awarded in year N which has been Average total remuneration per individual (in EUR) Ratio variable/fixed.. 191% % Ratio of deferred/total variable. 0% 49% %. 0% 53% % CROATIA Payment bracket for to below Euro figures per / business area management s s All other number of high earners of which: "Identified Staff" fixed remuneration (in EUR) variable remuneration (in EUR) amount of variable remuneration awarded in year N which has been Average total remuneration per individual (in EUR) Ratio variable/fixed % % Ratio of deferred/total variable... 40% %... 50% % CYPRUS Payment bracket for to below Euro figures per / business area management s s All other number of high earners of which: "Identified Staff" fixed remuneration (in EUR) variable remuneration (in EUR) amount of variable remuneration awarded in year N which has been Average total remuneration per individual (in EUR) Ratio variable/fixed % 59% Ratio of deferred/total variable % 26% % 21% 23

24 Payment bracket for to below Euro figures per / business area management s s All other number of high earners of which: "Identified Staff" fixed remuneration (in EUR) variable remuneration (in EUR) amount of variable remuneration awarded in year N which has been Average total remuneration per individual (in EUR) Ratio variable/fixed. 0% % 32% Ratio of deferred/total variable % 60% % 50% Payment bracket for to below Euro figures per / business area management s s All other number of high earners of which: "Identified Staff" fixed remuneration (in EUR) variable remuneration (in EUR) amount of variable remuneration awarded in year N which has been Average total remuneration per individual (in EUR) Ratio variable/fixed. 49% % Ratio of deferred/total variable. 60% %. 50% % DENMARK Payment bracket for to below Euro figures per / business area management s s All other number of high earners of which: "Identified Staff" fixed remuneration (in EUR) variable remuneration (in EUR) amount of variable remuneration awarded in year N which has been Average total remuneration per individual (in EUR) Ratio variable/fixed. 23% 79%. 158% 27% 104%. 58% Ratio of deferred/total variable. 53% 58%. 23% 45% 60%. 47%. 58% 41%. 21% 47% 50%. 39% Payment bracket for to below Euro figures per / business area management s s All other number of high earners of which: "Identified Staff" fixed remuneration (in EUR) variable remuneration (in EUR) amount of variable remuneration awarded in year N which has been Average total remuneration per individual (in EUR) Ratio variable/fixed. 38%.. 115%... 55% Ratio of deferred/total variable. 67%.. 10%... 41%. 79%.. 13%... 49% 24

25 Payment bracket for to below Euro figures per / business area management s s All other number of high earners of which: "Identified Staff" fixed remuneration (in EUR) variable remuneration (in EUR) amount of variable remuneration awarded in year N which has been Average total remuneration per individual (in EUR) Ratio variable/fixed. 0%.. 100%... 52% Ratio of deferred/total variable %... 80% %... 50% FINLAND Payment bracket for to below Euro figures per / business area management s s All other number of high earners of which: "Identified Staff" fixed remuneration (in EUR) variable remuneration (in EUR) amount of variable remuneration awarded in year N which has been Average total remuneration per individual (in EUR) Ratio variable/fixed. 74% 64%... 52%. 62% Ratio of deferred/total variable. 60% 80%... 80%. 73%. 80% 50%... 80%. 70% FRANCE Payment bracket for to below Euro figures per / business area management s s All other number of high earners of which: "Identified Staff" fixed remuneration (in EUR) variable remuneration (in EUR) amount of variable remuneration awarded in year N which has been Average total remuneration per individual (in EUR) Ratio variable/fixed 67% 123% 132% 152% 321% 162% 112% 354% 150% Ratio of deferred/total variable 34% 54% 58% 50% 55% 59% 60% 28% 56% 0% 43% 50% 49% 35% 53% 53% 21% 46% Payment bracket for to below Euro figures per / business area management s s All other number of high earners of which: "Identified Staff" fixed remuneration (in EUR) variable remuneration (in EUR) amount of variable remuneration awarded in year N which has been Average total remuneration per individual (in EUR) Ratio variable/fixed. 132% 162%. 248% 200%. 1925% 168% Ratio of deferred/total variable. 65% 51%. 70% 78%. 0% 57%. 60% 36%. 68% 63%. 0% 47% 25

26 Payment bracket for to below Euro figures per / business area management s s All other number of high earners of which: "Identified Staff" fixed remuneration (in EUR) variable remuneration (in EUR) amount of variable remuneration awarded in year N which has been Average total remuneration per individual (in EUR) Ratio variable/fixed 86% 260% 123%. 1568% % Ratio of deferred/total variable 60% 69% 68%. 0%... 62% 50% 33% 65%. 0%... 51% Payment bracket for to below Euro figures per / business area management s s All other number of high earners of which: "Identified Staff" fixed remuneration (in EUR) variable remuneration (in EUR) amount of variable remuneration awarded in year N which has been Average total remuneration per individual (in EUR) Ratio variable/fixed. 1075% % Ratio of deferred/total variable. 8% % % Payment bracket for to below Euro figures per / business area management s s All other number of high earners of which: "Identified Staff" fixed remuneration (in EUR) variable remuneration (in EUR) amount of variable remuneration awarded in year N which has been Average total remuneration per individual (in EUR) Ratio variable/fixed.. 656% % Ratio of deferred/total variable.. 5% %.. 5% % Payment bracket for to below Euro figures per / business area management s s All other number of high earners of which: "Identified Staff" fixed remuneration (in EUR) variable remuneration (in EUR) amount of variable remuneration awarded in year N which has been Average total remuneration per individual (in EUR) Ratio variable/fixed.. 790% % Ratio of deferred/total variable

27 GERMANY Payment bracket for to below Euro figures per / business area management s s All other number of high earners of which: "Identified Staff" fixed remuneration (in EUR) variable remuneration (in EUR) amount of variable remuneration awarded in year N which has been Average total remuneration per individual (in EUR) Ratio variable/fixed. 38% 119% 90% 151% 88% 56% 327% 67% Ratio of deferred/total variable. 39% 53% 45% 51% 46% 50% 8% 43%. 28% 40% 37% 41% 30% 42% 8% 33% Payment bracket for to below Euro figures per / business area management s s All other number of high earners of which: "Identified Staff" fixed remuneration (in EUR) variable remuneration (in EUR) amount of variable remuneration awarded in year N which has been Average total remuneration per individual (in EUR) Ratio variable/fixed. 40% 133% 1342% 155% 94%. 639% 82% Ratio of deferred/total variable. 50% 67% 1% 60% 61%. 19% 52%. 40% 48% 1% 68% 51%. 19% 41% Payment bracket for to below Euro figures per / business area management s s All other number of high earners of which: "Identified Staff" fixed remuneration (in EUR) variable remuneration (in EUR) amount of variable remuneration awarded in year N which has been Average total remuneration per individual (in EUR) Ratio variable/fixed. 22% 154% 176% % 59% Ratio of deferred/total variable. 41% 66% 60%... 0% 52%. 25% 60% 50%... 0% 43% Payment bracket for to below Euro figures per / business area management s s All other number of high earners of which: "Identified Staff" fixed remuneration (in EUR) variable remuneration (in EUR) amount of variable remuneration awarded in year N which has been Average total remuneration per individual (in EUR) Ratio variable/fixed. 0% 108% % Ratio of deferred/total variable.. 100% %.. 50% % 27

28 Payment bracket for to below Euro figures per / business area management s s All other number of high earners of which: "Identified Staff" fixed remuneration (in EUR) variable remuneration (in EUR) amount of variable remuneration awarded in year N which has been Average total remuneration per individual (in EUR) Ratio variable/fixed.. 497% % Ratio of deferred/total variable.. 2% %.. 1% % Payment bracket for to below Euro figures per / business area management s s All other number of high earners of which: "Identified Staff" fixed remuneration (in EUR) variable remuneration (in EUR) amount of variable remuneration awarded in year N which has been Average total remuneration per individual (in EUR) Ratio variable/fixed. 129% % Ratio of deferred/total variable. 100% %. 100% % HUNGARY Payment bracket for to below Euro figures per / business area management s s All other number of high earners of which: "Identified Staff" fixed remuneration (in EUR) variable remuneration (in EUR) amount of variable remuneration awarded in year N which has been Average total remuneration per individual (in EUR) Ratio variable/fixed.. 136% 58% % Ratio of deferred/total variable.. 100% 60% %.. 50% 50% % Payment bracket for to below Euro figures per / business area management s s All other number of high earners of which: "Identified Staff" fixed remuneration (in EUR) variable remuneration (in EUR) amount of variable remuneration awarded in year N which has been Average total remuneration per individual (in EUR) Ratio variable/fixed %.. 75% Ratio of deferred/total variable %.. 60% %.. 50% 28

29 IRELAND Payment bracket for to below Euro figures per / business area management s s All other number of high earners of which: "Identified Staff" fixed remuneration (in EUR) variable remuneration (in EUR) amount of variable remuneration awarded in year N which has been Average total remuneration per individual (in EUR) Ratio variable/fixed 119% 95% 119% 56% 377% 213%.. 118% Ratio of deferred/total variable 30% 35% 31% 54% 52% 45%.. 38% 30% 56% 28% 70% 52% 45%.. 44% Payment bracket for to below Euro figures per / business area management s s All other number of high earners of which: "Identified Staff" fixed remuneration (in EUR) variable remuneration (in EUR) amount of variable remuneration awarded in year N which has been Average total remuneration per individual (in EUR) Ratio variable/fixed. 98% 135%. 222% % Ratio of deferred/total variable. 100% 18%. 57%... 46%. 53% 15%. 57%... 38% Payment bracket for to below Euro figures per / business area management s s All other number of high earners of which: "Identified Staff" fixed remuneration (in EUR) variable remuneration (in EUR) amount of variable remuneration awarded in year N which has been Average total remuneration per individual (in EUR) Ratio variable/fixed. 100% % % Ratio of deferred/total variable. 0%.. 45%... 32%. 0%.. 45%... 32% Payment bracket for to below Euro figures per / business area All other number of high earners of which: "Identified Staff" fixed remuneration (in EUR) variable remuneration (in EUR) amount of variable remuneration awarded in year N which has been Average total remuneration per individual (in EUR) Ratio variable/fixed. 190% % Ratio of deferred/total variable. 0% %. 0% % 29

30 ITALY Payment bracket for to below Euro figures per / business area management s s All other number of high earners of which: "Identified Staff" fixed remuneration (in EUR) variable remuneration (in EUR) amount of variable remuneration awarded in year N which has been Average total remuneration per individual (in EUR) Ratio variable/fixed 9% 58% 63% 55% 174% 113% 41% 40% 62% Ratio of deferred/total variable 20% 52% 44% 56% 47% 63% 64% 40% 48% 0% 41% 37% 46% 42% 48% 53% 32% 39% Payment bracket for to below Euro figures per / business area management s s All other number of high earners of which: "Identified Staff" fixed remuneration (in EUR) variable remuneration (in EUR) amount of variable remuneration awarded in year N which has been Average total remuneration per individual (in EUR) Ratio variable/fixed. 270% 101% 102%. 237% 159% 13% 101% Ratio of deferred/total variable. 73% 62% 50%. 64% 13% 46% 59%. 62% 56% 41%. 57% 8% 23% 51% Payment bracket for to below Euro figures per / business area management s s All other number of high earners of which: "Identified Staff" fixed remuneration (in EUR) variable remuneration (in EUR) amount of variable remuneration awarded in year N which has been Average total remuneration per individual (in EUR) Ratio variable/fixed. 129% 92%.. 288%. 44% 89% Ratio of deferred/total variable. 60% 83%.. 63%. 47% 69%. 50% 50%.. 56%. 25% 46% Payment bracket for to below Euro figures per / business area management s s All other number of high earners of which: "Identified Staff" fixed remuneration (in EUR) variable remuneration (in EUR) amount of variable remuneration awarded in year N which has been Average total remuneration per individual (in EUR) Ratio variable/fixed. 156% 25% % Ratio of deferred/total variable. 60% 40% %. 76% 50% % 30

31 Payment bracket for to below Euro figures per / business area management s s All other number of high earners of which: "Identified Staff" fixed remuneration (in EUR) variable remuneration (in EUR) amount of variable remuneration awarded in year N which has been Average total remuneration per individual (in EUR) Ratio variable/fixed.. 157% % Ratio of deferred/total variable.. 100% %.. 54% % Payment bracket for to below Euro figures per / business area management s s All other number of high earners of which: "Identified Staff" fixed remuneration (in EUR) variable remuneration (in EUR) amount of variable remuneration awarded in year N which has been Average total remuneration per individual (in EUR) Ratio variable/fixed. 161% % Ratio of deferred/total variable. 63% %. 59% % Payment bracket for to below Euro figures per / business area management s s All other number of high earners of which: "Identified Staff" fixed remuneration (in EUR) variable remuneration (in EUR) amount of variable remuneration awarded in year N which has been Average total remuneration per individual (in EUR) Ratio variable/fixed % 50% Ratio of deferred/total variable % 48% % 25% LIECHTENSTEIN Payment bracket for to below Euro figures per / business area management s s All other number of high earners of which: "Identified Staff" fixed remuneration (in EUR) variable remuneration (in EUR) amount of variable remuneration awarded in year N which has been Average total remuneration per individual (in EUR) Ratio variable/fixed. 131% % Ratio of deferred/total variable. 75% %. 75% % 31

32 Payment bracket for to below Euro figures per / business area management s s All other number of high earners of which: "Identified Staff" fixed remuneration (in EUR) variable remuneration (in EUR) amount of variable remuneration awarded in year N which has been Average total remuneration per individual (in EUR) Ratio variable/fixed 212% % Ratio of deferred/total variable 60% % 53% % Payment bracket for to below Euro figures per / business area management s s All other number of high earners of which: "Identified Staff" fixed remuneration (in EUR) variable remuneration (in EUR) amount of variable remuneration awarded in year N which has been Average total remuneration per individual (in EUR) Ratio variable/fixed 199% % Ratio of deferred/total variable 60% % 50% % LUXEMBOURG Payment bracket for to below Euro figures per / business area management s s All other number of high earners of which: "Identified Staff" fixed remuneration (in EUR) variable remuneration (in EUR) amount of variable remuneration awarded in year N which has been Average total remuneration per individual (in EUR) Ratio variable/fixed. 109%. 145% 130% 28%. 107% 110% Ratio of deferred/total variable. 55%. 13% 34% 40%. 78% 46%. 58%. 12% 50% 50%. 63% 50% Payment bracket for to below Euro figures per / business area management s s All other number of high earners of which: "Identified Staff" fixed remuneration (in EUR) variable remuneration (in EUR) amount of variable remuneration awarded in year N which has been Average total remuneration per individual (in EUR) Ratio variable/fixed. 197% % 107% Ratio of deferred/total variable. 50% % 58%. 0% % 23% 32

33 Payment bracket for to below Euro figures per / business area management s s All other number of high earners of which: "Identified Staff" fixed remuneration (in EUR) variable remuneration (in EUR) amount of variable remuneration awarded in year N which has been Average total remuneration per individual (in EUR) Ratio variable/fixed. 72% % Ratio of deferred/total variable. 75% %. 50% % NETHERLANDS Payment bracket for to below Euro figures per / business area management s s All other number of high earners of which: "Identified Staff" fixed remuneration (in EUR) variable remuneration (in EUR) amount of variable remuneration awarded in year N which has been Average total remuneration per individual (in EUR) Ratio variable/fixed. 39% 142% 101%. 262%. 138% 88% Ratio of deferred/total variable. 39% 39% 3%. 13%. 0% 26%. 21% 36% 3%. 9%. 0% 19% Payment bracket for to below Euro figures per / business area management s s All other number of high earners of which: "Identified Staff" fixed remuneration (in EUR) variable remuneration (in EUR) amount of variable remuneration awarded in year N which has been Average total remuneration per individual (in EUR) Ratio variable/fixed. 13% 71% % Ratio of deferred/total variable. 60% 75% %. 100% 88% % NORWAY Payment bracket for to below Euro figures per / business area management s s All other number of high earners of which: "Identified Staff" fixed remuneration (in EUR) variable remuneration (in EUR) amount of variable remuneration awarded in year N which has been Average total remuneration per individual (in EUR) Ratio variable/fixed. 146% 270%. 80% 51%.. 198% Ratio of deferred/total variable. 35% 6%. 80% 14%.. 12%. 35% 6%. 50% 54%.. 13% 33

34 Payment bracket for to below Euro figures per / business area management s s All other number of high earners of which: "Identified Staff" fixed remuneration (in EUR) variable remuneration (in EUR) amount of variable remuneration awarded in year N which has been Average total remuneration per individual (in EUR) Ratio variable/fixed.. 67% % Ratio of deferred/total variable.. 50% %.. 0% % Payment bracket for to below Euro figures per / business area management s s All other number of high earners of which: "Identified Staff" fixed remuneration (in EUR) variable remuneration (in EUR) amount of variable remuneration awarded in year N which has been Average total remuneration per individual (in EUR) Ratio variable/fixed.. 850% % Ratio of deferred/total variable.. 0% %.. 0% % POLAND Payment bracket for to below Euro figures per / business area management s s All other number of high earners of which: "Identified Staff" fixed remuneration (in EUR) variable remuneration (in EUR) amount of variable remuneration awarded in year N which has been Average total remuneration per individual (in EUR) Ratio variable/fixed. 96% 157% 105% % 121% Ratio of deferred/total variable. 70% 62% 50%... 0% 51%. 48% 70% 50%... 12% 49% Payment bracket for to below Euro figures per / business area management s s All other number of high earners of which: "Identified Staff" fixed remuneration (in EUR) variable remuneration (in EUR) amount of variable remuneration awarded in year N which has been Average total remuneration per individual (in EUR) Ratio variable/fixed % 167% Ratio of deferred/total variable % 27% 34

35 PORTUGAL Payment bracket for to below Euro figures per / business area management s s All other number of high earners of which: "Identified Staff" fixed remuneration (in EUR) variable remuneration (in EUR) amount of variable remuneration awarded in year N which has been Average total remuneration per individual (in EUR) Ratio variable/fixed. 0%. 199% % Ratio of deferred/total variable... 45% %... 50% % Payment bracket for to below Euro figures per / business area management s s All other number of high earners of which: "Identified Staff" fixed remuneration (in EUR) variable remuneration (in EUR) amount of variable remuneration awarded in year N which has been Average total remuneration per individual (in EUR) Ratio variable/fixed. 0% % Ratio of deferred/total variable ROMANIA Payment bracket for to below Euro figures per / business area management s s All other number of high earners of which: "Identified Staff" fixed remuneration (in EUR) variable remuneration (in EUR) amount of variable remuneration awarded in year N which has been Average total remuneration per individual (in EUR) Ratio variable/fixed. 30% % Ratio of deferred/total variable. 60% %. 77% % SPAIN Payment bracket for to below Euro figures per / business area management s s All other number of high earners of which: "Identified Staff" fixed remuneration (in EUR) variable remuneration (in EUR) amount of variable remuneration awarded in year N which has been Average total remuneration per individual (in EUR) Ratio variable/fixed 0% 40% 111% 101% 153% 114% 87%. 97% Ratio of deferred/total variable. 26% 53% 47% 50% 29% 53%. 43%. 27% 51% 41% 55% 27% 41%. 40% 35

36 Payment bracket for to below Euro figures per / business area management s s All other number of high earners of which: "Identified Staff" fixed remuneration (in EUR) variable remuneration (in EUR) amount of variable remuneration awarded in year N which has been Average total remuneration per individual (in EUR) Ratio variable/fixed. 95% 135% 114%. 69% 41%. 104% Ratio of deferred/total variable. 60% 46% 63%. 29% 67%. 48%. 50% 50% 38%. 31% 63%. 43% Payment bracket for to below Euro figures per / business area management s s All other number of high earners of which: "Identified Staff" fixed remuneration (in EUR) variable remuneration (in EUR) amount of variable remuneration awarded in year N which has been Average total remuneration per individual (in EUR) Ratio variable/fixed. 48% 98% 177% 1937% 90% 80%. 100% Ratio of deferred/total variable. 59% 85% 40% 1% 53% 53%. 55%. 53% 66% 50% 1% 51% 53%. 49% Payment bracket for to below Euro figures per / business area management s s All other number of high earners of which: "Identified Staff" fixed remuneration (in EUR) variable remuneration (in EUR) amount of variable remuneration awarded in year N which has been Average total remuneration per individual (in EUR) Ratio variable/fixed %. 744% 100%. 181% Ratio of deferred/total variable... 52%.. 54%. 28%... 52%.. 54%. 28% Payment bracket for to below Euro figures per / business area management s s All other number of high earners of which: "Identified Staff" fixed remuneration (in EUR) variable remuneration (in EUR) amount of variable remuneration awarded in year N which has been Average total remuneration per individual (in EUR) Ratio variable/fixed. 100% % 85%. 98% Ratio of deferred/total variable. 61%... 51% 53%. 58%. 55%... 51% 53%. 54% 36

37 Payment bracket for to below Euro figures per / business area management s s All other number of high earners of which: "Identified Staff" fixed remuneration (in EUR) variable remuneration (in EUR) amount of variable remuneration awarded in year N which has been Average total remuneration per individual (in EUR) Ratio variable/fixed. 173%. 144%. 122%.. 144% Ratio of deferred/total variable. 60%. 61%. 62%.. 61%. 50%. 52%. 52%.. 51% Payment bracket for to below Euro figures per / business area management s s All other number of high earners of which: "Identified Staff" fixed remuneration (in EUR) variable remuneration (in EUR) amount of variable remuneration awarded in year N which has been Average total remuneration per individual (in EUR) Ratio variable/fixed.. 241% % Ratio of deferred/total variable.. 32% %.. 27% % Payment bracket for to below Euro figures per / business area management s s All other number of high earners of which: "Identified Staff" fixed remuneration (in EUR) variable remuneration (in EUR) amount of variable remuneration awarded in year N which has been Average total remuneration per individual (in EUR) Ratio variable/fixed. 92% % Ratio of deferred/total variable. 64% %. 55% % Payment bracket for to below Euro figures per / business area management s s All other number of high earners of which: "Identified Staff" fixed remuneration (in EUR) variable remuneration (in EUR) amount of variable remuneration awarded in year N which has been Average total remuneration per individual (in EUR) Ratio variable/fixed. 140% % Ratio of deferred/total variable. 64% %. 55% % 37

38 SWEDEN Payment bracket for to below Euro figures per / business area management s s All other number of high earners of which: "Identified Staff" fixed remuneration (in EUR) variable remuneration (in EUR) amount of variable remuneration awarded in year N which has been Average total remuneration per individual (in EUR) Ratio variable/fixed. 28% 75% 68% 70% 0% 56%. 50% Ratio of deferred/total variable. 64% 67% 87% 80%. 80%. 69%. 66% 41% 68% 80%. 80%. 52% Payment bracket for to below Euro figures per / business area management s s All other number of high earners of which: "Identified Staff" fixed remuneration (in EUR) variable remuneration (in EUR) amount of variable remuneration awarded in year N which has been Average total remuneration per individual (in EUR) Ratio variable/fixed. 41% 148% % Ratio of deferred/total variable. 60% 33% %. 80% 32% % Payment bracket for to below Euro figures per / business area management s s All other number of high earners of which: "Identified Staff" fixed remuneration (in EUR) variable remuneration (in EUR) amount of variable remuneration awarded in year N which has been Average total remuneration per individual (in EUR) Ratio variable/fixed.. 140% % Ratio of deferred/total variable.. 66% %.. 50% % 38

39 UNITED KINGDOM Payment bracket for to below Euro figures per / business area management s s All other number of high earners of which: "Identified Staff" fixed remuneration (in EUR) variable remuneration (in EUR) amount of variable remuneration awarded in year N which has been Average total remuneration per individual (in EUR) Ratio variable/fixed 98% 176% 120% 119% 319% 116% 96% 278% 146% Ratio of deferred/total variable 35% 39% 61% 62% 42% 57% 58% 15% 51% 46% 45% 57% 67% 26% 63% 64% 22% 48% Payment bracket for to below Euro figures per / business area management s s All other number of high earners of which: "Identified Staff" fixed remuneration (in EUR) variable remuneration (in EUR) amount of variable remuneration awarded in year N which has been Average total remuneration per individual (in EUR) Ratio variable/fixed. 206% 128% 148% 482% 145% 90% 503% 166% Ratio of deferred/total variable. 42% 69% 62% 43% 56% 62% 19% 56%. 40% 60% 57% 25% 53% 55% 20% 48% Payment bracket for to below Euro figures per / business area management s s All other number of high earners of which: "Identified Staff" fixed remuneration (in EUR) variable remuneration (in EUR) amount of variable remuneration awarded in year N which has been Average total remuneration per individual (in EUR) Ratio variable/fixed. 205% 140% 113% 622% 139% 133% 241% 176% Ratio of deferred/total variable. 62% 72% 70% 42% 65% 74% 33% 63%. 61% 62% 61% 24% 64% 76% 33% 53% Payment bracket for to below Euro figures per / business area management s s All other number of high earners of which: "Identified Staff" fixed remuneration (in EUR) variable remuneration (in EUR) amount of variable remuneration awarded in year N which has been Average total remuneration per individual (in EUR) Ratio variable/fixed. 273% 154% 159% 708% 96% 59% 844% 195% Ratio of deferred/total variable. 58% 66% 76% 49% 74% 73% 0% 61%. 59% 60% 62% 44% 50% 50% 0% 57% 39

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42 Payment bracket for to below Euro figures per / business area management s s All other number of high earners of which: "Identified Staff" fixed remuneration (in EUR) variable remuneration (in EUR) amount of variable remuneration awarded in year N which has been Average total remuneration per individual (in EUR) Ratio variable/fixed. 1438% 157%. 5337% % Ratio of deferred/total variable. 0% 97%. 24%... 40%. 100% 75%. 24%... 56% Payment bracket for to below Euro figures per / business area management s s All other number of high earners of which: "Identified Staff" fixed remuneration (in EUR) variable remuneration (in EUR) amount of variable remuneration awarded in year N which has been Average total remuneration per individual (in EUR) Ratio variable/fixed.. 152%. 6314% % Ratio of deferred/total variable.. 84%. 49%... 62%.. 50%. 49%... 50% Payment bracket for to below Euro figures per / business area management s s All other number of high earners of which: "Identified Staff" fixed remuneration (in EUR) variable remuneration (in EUR) amount of variable remuneration awarded in year N which has been Average total remuneration per individual (in EUR) Ratio variable/fixed.. 171% % Ratio of deferred/total variable.. 100% %.. 100% % Payment bracket for to below Euro figures per / business area management s s All other number of high earners of which: "Identified Staff" fixed remuneration (in EUR) variable remuneration (in EUR) amount of variable remuneration awarded in year N which has been Average total remuneration per individual (in EUR) Ratio variable/fixed. 90% % Ratio of deferred/total variable. 100% %. 100% % 42

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