Note 18: Detailed Information – People Costs continued 19 Expected volatility is based on historical volatility (based on the remaining life assumption of each equity instrument, adjusted for expected changes). 20 PSUs are subject to an EPS growth and ROIC performance measure. 21 F air value of GESP shares is estimated based on the assumptions prevailing on the grant date. In accordance with the terms and conditions of the GESP plan, shares are issued at a 15% discount to the lower of the ASX market price on the first and last dates of the contribution period. Valuation assumptions and fair values of equity instruments granted The model inputs for share-based payments granted during the year ended 30 June 2022 included: Fair Value Share Price Exercise Price Expected Volatility19 Life Assumption Expected Dividend Yield Risk-free Interest Rates (A$) (A$) (A$) Performance Share Units (by grant date)20 1 September 2021 – Tranche 1 $302.44 $310.84 Nil 29.32% 36 months 0.91% 0.01% Restricted Share Units (by grant date) 1 September 2021 – Tranche 1 $310.84 $310.84 Nil N/A 0 months N/A N/A 1 September 2021 – Tranche 2 $309.44 $310.84 Nil 18.82% 6 months 0.91% 0.01% 1 September 2021 – Tranche 3 $308.02 $310.84 Nil 21.57% 12 months 0.91% 0.01% 1 September 2021 – Tranche 4 $306.63 $310.84 Nil 34.29% 18 months 0.91% 0.01% 1 September 2021 – Tranche 5 $305.22 $310.84 Nil 31.48% 24 months 0.91% 0.01% 1 September 2021 – Tranche 6 $303.84 $310.84 Nil 29.72% 30 months 0.91% 0.10% 1 September 2021 – Tranche 7 $302.44 $310.84 Nil 29.32% 36 months 0.91% 0.19% 1 September 2021 – Tranche 8 $299.70 $310.84 Nil 26.96% 48 months 0.91% 0.42% 1 March 2022 – Tranche 1 $263.92 $263.92 Nil N/A 0 months N/A N/A 1 March 2022 – Tranche 2 $262.44 $263.92 Nil 28.27% 6 months 1.11% 1.02% 1 March 2022 – Tranche 3 $261.00 $263.92 Nil 24.25% 12 months 1.11% 1.02% 1 March 2022 – Tranche 4 $259.54 $263.92 Nil 24.08% 18 months 1.11% 1.02% 1 March 2022 – Tranche 5 $258.10 $263.92 Nil 32.99% 24 months 1.11% 1.02% 1 March 2022 – Tranche 6 $256.65 $263.92 Nil 30.94% 30 months 1.11% 1.26% 1 March 2022 – Tranche 7 $255.24 $263.92 Nil 29.54% 36 months 1.11% 1.50% 1 March 2022 – Tranche 8 $253.81 $263.92 Nil 29.19% 42 months 1.11% 1.59% Rights (by grant date) 26 August 2021 – Tranche 1 $304.00 $305.37 Nil 19.27% 6 months 0.91% 0.02% 26 August 2021 – Tranche 2 $302.62 $305.37 Nil 21.69% 12 months 0.91% 0.02% 4 October 2021 – Tranche 1 $292.17 $293.32 Nil 19.32% 5 months 1.02% 0.05% 4 October 2021 – Tranche 2 $290.69 $293.32 Nil 21.24% 11 months 1.02% 0.05% GESP (by grant date)21 3 September 2021 – Tranche 1 $76.72 $303.87 $227.15 18.82% 6 months 0.91% 0.01% 4 March 2022 – Tranche 1 $33.97 $258.30 $224.33 28.27% 6 months 1.11% 1.02% Note 19: Detailed Information – Shareholder Returns Consolidated Entity 2022 US$m 2021 US$m Retained earnings Opening balance 12,252.7 10,752.3 Net profit for the year 2,254.7 2,375.0 Dividends (1,038.7) (958.0) Actuarial gain on defined benefit plans 40.2 100.6 Deferred tax expense on actuarial gain/loss on defined benefit plans (5.5) (17.2) Closing balance 13,503.4 12,252.7 CSL Limited Annual Report 2021/22 135
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