REA Group Ltd Annual Report 2021

Notes to the Consolidated Financial Statements for the year ended 30 June 2021 REA Group Ltd | Annual Report 2021 18. Share-based payments (continued) (c) Deferred share plan Rights granted under these plans vest 24 months after grant date, except for rights under the key talent share plan which vest 36 months after grant date. Each share right automatically converts into one ordinary share at an exercise price of nil at the end of the performance period, subject to service conditions. All performance periods conclude in the future and no performance rights are exercisable at balance date. The fair value of each performance right is estimated on the grant date using the Black Scholes model. The number of share rights granted is determined based on the dollar value of the award divided by the weighted average price using a VWAP leading up to the date of grant. The tables below summarise the movement in the Groupʼs deferred share plan during the year and the fair value of these equity instruments. Plan Performance period end date Balance at start of the year Number Granted during the year Number Exercised during the year 1 Number Forfeited/ cancelled during the Number Balance at end of the year 2 Number Key talent deferred share plan 2017 31 August 2020 11,736 – (11,736) – – Deferred share plan 2018 30 June 2020 3,145 – (3,145) – – Future leaders deferred share plan 2020 31 August 2020 3,488 – (3,488) – – Deferred share plan 2019 6 January 2021 7,437 – (7,437) – – Deferred share plan 2019 21 May 2021 2,055 – (2,055) – – Deferred share plan 2019 30 June 2021 3,588 – – (671) 2,917 Deferred share plan 2021 30 June 2021 – 9,727 (6,098) – 3,629 Deferred share plan 2022 30 June 2022 – 9,666 – (1,065) 8,601 Future leaders deferred share plan 2022 30 June 2022 – 5,611 – (1,227) 4,384 Total 31,449 25,004 (33,959) (2,963) 19,531 1 The weighted average share price over the settlement period for these rights was $135.26. 2 The weighted average remaining contractual life of these rights at the end of the reporting period is 10 months. Plan Value per right at measurement date Deferred share plan 2019 $101.62 Deferred share plan 2021 $142.35 Deferred share plan 2022 $140.95 - $142.35 Future leaders deferred share plan 2022 $142.35 104 Financial Statements