Financial Statements 2023

2. Notes to the IFRS Consolidated Financial Statements 2.6 Employees Costs and Benefits

The principal characteristics of the LTIPs as at 31 December 2023 are summarised below:

(7)

(8)

(9)

LTIP 2018

LTIP 2019

LTIP 2020

LTIP 2021

LTIP 2022

LTIP 2023

15 December 2021

14 December 2022

14 December 2023

28 October 2020

29 October 2019

30 October 2018

(1)

Grant date

Performance Units and Performance Shares Plan

Units/Shares

Units Shares Units Shares Units Shares

Shares

Shares

Shares

Number of units / shares granted Fair value at grant date Fair Value of Performance Units as of 31 December 2023 Number of units / shares granted through Equity Pool Number of units / shares outstanding Total number of eligible beneficiaries (2) (3) (3) (4)

278,376 281,181 247,508 247,508 420,004 420,004

520,870

649,373

558,055

84.09 / 83.28 85.01

112.83 / 108.44 112.92

51.04 / 46.98 55.49

89.83

110.85

141.80

125.20 / 137.30 n.a.

128.00 / 116.48 n.a.

-

n.a.

n.a.

n.a.

n.a.

6,664 6,664 4,343 4,252 2,473 2,473

19,693

19,747

-

(5)

-

-

55,050 -

575,805 575,805

512,255

658,409

558,055

1,626

1,576

1,603

1,785

1,579

1,581

The Performance Units and Performance Shares will vest if the participant is still employed by a company of the Group at the respective vesting dates and upon achievement of mid ‑ term business performance. Vesting schedule is made up of two payments over two years for units, one date of delivery for shares.

Vesting conditions

Limited Share price per unit at vesting dates to (6)

€213.88 n.a.

€244.12 n.a.

€136.08 n.a.

n.a.

n.a.

n.a.

50% each in June 2022 and

50% each in June 2023 and in

50% each in June 2024 and in

100% Expected in May 2024

100% in May 2022

100% in May 2023

2

100% in May 2025

100% in May 2026

100% in May 2027

Expected Vesting dates

June 2023

June 2024

June 2025

Number of accelerated vested units / shares Number of vested units / shares (10)

-

-

-

-

404 404

247

-

-

130,089 132,120 55,982 109,802 -

-

-

-

-

Date, when the vesting conditions were determined. (1) Based on 100% target performance achievement. A minimum of 50% of Performance Units will vest; 100% in case of on ‑ target performance achievement; up to a maximum of 150% in case of overachievement of performance criteria. In case of absolute negative results (cumulative EBIT of the Company) during the performance period, the Board of Directors can decide to review the vesting of the Performance Units including the 50% portion which is not subject to performance conditions (additional vesting condition). (2) Values are provided for units corresponding per vesting date. (3) Mirroring the respective plan rules and regulations, but granted at a different date based on specific Board of Directors’ resolutions. (4) Including shares granted through the Equity Pool, if applicable and applicable performance achievement as per footnote 7,8,9 below. (5) Corresponds to 200% of the respective reference share price. Overall, the pay ‑ out for Performance Units is limited to a total amount of 250% of the units originally granted, each valued with the respective reference share price of €73.81 (for LTIP 2017), €106.94 (for LTIP 2018), €122.06 (for LTIP 2019), €68.04 (for LTIP 2020). (6)

Based on performance achievement of 50% for Performance Units under LTIP 2018. (7) Based on performance achievement of 50% for Performance Units under LTIP 2019. (8) Based on performance achievement of 150% for Performance Units under LTIP 2020. (9) Accelerated vesting following the death of a beneficiary. (10)

Additionally, the Board of Directors approved in 2023 the exceptional grant of 988 Restricted Units and 23,414 Restricted Shares (2022: 1,836 Units and 47,035 Shares) under the Equity Pool with an average fair value of €115.28. In 2023, 1,138 Units and 14,117 Shares have vested (2022: 4,826 Units and 2,165 Shares). The number of units granted under the Equity Pool and outstanding as of 31 December 2023 is 1,419 Units and 63,368 Shares (2022: 1,836 Units and 56,857 Shares).

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Airbus

Financial Statements 2023