Business
2025 PSP Award Targets
Marks and Spencer Group plc has confirmed the performance targets for its 2025 Performance Share Plan awards, which are designed to vest in 2028 and be held until 2030, subject to conditions including adjusted EPS of 35.5p to 43.3p, ROCE of 15.8% to 18.3%, relative TSR at median to upper quartile, and strategic measures such as M&S.com growth, food like-for-like sales growth, and Opex as a percentage of sales. These targets were delayed due to a cyber incident and are considered commercially sensitive, with specific strategic measure details to be disclosed upon vesting. Disclaimer*
About this update from Marks And Spencer Group Plc
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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