REG - Marks and Spencer Gp - 2025 PSP Award Targets

Marks and SpencerAnnouncement

Thu 10:00

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RNS Number : 1994L  Marks and Spencer Group PLC  11 December 2025

MARKS AND SPENCER GROUP PLC

2025 PSP AWARD TARGETS

 

Marks and Spencer Group plc is providing this notification following the grant
of conditional share awards under the Company's Performance Share Plan on 7
July 2025. The PSP is designed to deliver sustainable value creation and
encourage long-term shareholding and alignment with shareholders' interests.

 

As stated in the RNS announcement on 9 July 2025 and in the Company's 2025
Annual Report, due to the cyber incident, target setting for the 2025 PSP
Awards was delayed until appropriately stretching but realistic goals could be
set. Targets for the awards were to be announced no later than 31 December
2025.

 

These awards will vest in 2028 to the extent the performance conditions are
met. They must then be held for a further two years, not being released to the
participants until 2030. Further, malus, clawback and shareholding guidelines
apply to these awards.

 

The targets for the 2025 PSP Award have been confirmed as follows:

 

 Measure                                                Weighting  Details
                                                        Threshold                     Maximum
 Adjusted EPS in final year of 3-yr performance period  30%        35.5p              43.3p
 ROCE in final year of 3-yr performance period          30%        15.8%              18.3%
 Relative TSR                                           20%        Median             Upper Quartile
 Strategic measures                                     20%        M&S.com growth

                                                                   Food like-for-like sales growth

                                                                   Opex as % of sales

 

For performance between Threshold and Maximum, awards vest on a straight-line
basis.

 

The specific targets for the strategic measures are deemed too commercially
sensitive to disclose now. These will be disclosed, where possible, on
vesting.

 

-Ends-

 

For more information, please call:

M&S Corporate PR: +44 (0) 208 718 1919

 

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