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wtw:MrCarlHessMember 2025-01-01 2025-12-31 0001140536 ecd:PnsnAdjsSvcCstMember ecd:PeoMember wtw:MrCarlHessMember 2025-01-01 2025-12-31 0001140536 7 2025-01-01 2025-12-31 0001140536 ecd:EqtyAwrdsInSummryCompstnTblForAplblYrMember ecd:NonPeoNeoMember 2025-01-01 2025-12-31 0001140536 ecd:ChngInFrValOfOutsdngAndUnvstdEqtyAwrdsGrntdInPrrYrsMember ecd:NonPeoNeoMember 2025-01-01 2025-12-31 0001140536 ecd:YrEndFrValOfEqtyAwrdsGrntdInCvrdYrOutsdngAndUnvstdMember ecd:PeoMember wtw:MrCarlHessMember 2025-01-01 2025-12-31 0001140536 5 2025-01-01 2025-12-31 0001140536 2023-01-01 2023-12-31 0001140536 1 2025-01-01 2025-12-31 0001140536 ecd:ChngInFrValAsOfVstngDtOfPrrYrEqtyAwrdsVstdInCvrdYrMember ecd:PeoMember wtw:MrCarlHessMember 2025-01-01 2025-12-31 0001140536 2021-01-01 2021-12-31 0001140536 ecd:PnsnAdjsSvcCstMember ecd:NonPeoNeoMember 2025-01-01 2025-12-31 0001140536 ecd:ChngInFrValAsOfVstngDtOfPrrYrEqtyAwrdsVstdInCvrdYrMember ecd:NonPeoNeoMember 2025-01-01 2025-12-31 0001140536 ecd:AggtChngPnsnValInSummryCompstnTblForAplblYrMember ecd:PeoMember wtw:MrCarlHessMember 2025-01-01 2025-12-31 0001140536 2024-01-01 2024-12-31 0001140536 wtw:MrCarlHessMember 2023-01-01 2023-12-31 0001140536 6 2025-01-01 2025-12-31 0001140536 wtw:MrCarlHessMember 2022-01-01 2022-12-31 0001140536 4 2025-01-01 2025-12-31 pure iso4217:USD 0001140536 false DEF 14A WILLIS TOWERS WATSON PLC true 2025 Pay Versus Performance The following table and supporting narrative contain information regarding “compensation actually paid” to our NEOs and the relationship to company performancePay Versus Performance Table <table style="border-spacing:0;table-layout:auto;width:100.0%;border-collapse:separate;"> <tr style="visibility:collapse;"> <td style="width:5.259%;box-sizing:content-box;"></td> <td style="width:10.478%;box-sizing:content-box;"></td> <td style="width:10.478%;box-sizing:content-box;"></td> <td style="width:10.478%;box-sizing:content-box;"></td> <td style="width:10.478%;box-sizing:content-box;"></td> <td style="width:10.478%;box-sizing:content-box;"></td> <td style="width:10.478%;box-sizing:content-box;"></td> <td style="width:8.638%;box-sizing:content-box;"></td> <td style="width:8.638%;box-sizing:content-box;"></td> <td style="width:7.359%;box-sizing:content-box;"></td> <td style="width:7.239%;box-sizing:content-box;"></td> </tr> <tr style="height:7pt;background-color:#7f35b2;white-space:pre-wrap;word-break:break-word;text-align:left;"> <td rowspan="2" style="border-top:0.5pt solid #7f7f7f;padding-top:0in;border-left:0.5pt solid #7f7f7f;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #7f7f7f;padding-right:0in;"> Year</td> <td rowspan="2" style="border-top:0.5pt solid #7f7f7f;padding-top:0in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #7f7f7f;padding-right:0in;"> SummaryCompensationTableTotal forPEO 1(Hess)($) (1)</td> <td rowspan="2" style="border-top:0.5pt solid #7f7f7f;padding-top:0in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #7f7f7f;padding-right:0in;"> CompensationActuallyPaid toPEO 1(Hess)($) (1) (2) (8)</td> <td rowspan="2" style="border-top:0.5pt solid #7f7f7f;padding-top:0in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #7f7f7f;padding-right:0in;"> Summary CompensationTableTotal forPEO 2(Haley)($) (3)</td> <td rowspan="2" style="border-top:0.5pt solid #7f7f7f;padding-top:0in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #7f7f7f;padding-right:0in;"> CompensationActuallyPaid toPEO 2(Haley)($) (2) (3) (8)</td> <td rowspan="2" style="border-top:0.5pt solid #7f7f7f;padding-top:0in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #7f7f7f;padding-right:0in;"> AverageSummaryCompensationTable Total forNon-PEONEOs($) (4)</td> <td rowspan="2" style="border-top:0.5pt solid #7f7f7f;padding-top:0in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #7f7f7f;padding-right:0in;"> Average CompensationActuallyPaid toNon-PEONEOs($) (2) (4) (8)</td> <td colspan="2" style="border-top:0.5pt solid #7f7f7f;padding-top:0in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0in;">Value of Initial Fixed$100 Investment on December 31, 2020Based on:</td> <td rowspan="2" style="border-top:0.5pt solid #7f7f7f;padding-top:0in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #7f7f7f;padding-right:0in;"> Net Income/ Loss($) (6)</td> <td rowspan="2" style="border-top:0.5pt solid #7f7f7f;padding-top:0in;border-right:0.5pt solid #7f7f7f;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #7f7f7f;padding-right:0in;"> AdjustedOperatingMargin(7)</td> </tr> <tr style="height:7pt;white-space:pre-wrap;word-break:break-word;text-align:left;"> <td style="border-top:0.5pt solid #7f7f7f;padding-top:0in;border-left:0.5pt solid #7f7f7f;padding-left:0in;display:none;vertical-align:top;padding-bottom:0in;border-bottom:0.5pt solid #7f7f7f;padding-right:0in;"> </td> <td style="border-top:0.5pt solid #7f7f7f;padding-top:0in;padding-left:0in;display:none;vertical-align:top;padding-bottom:0in;border-bottom:0.5pt solid #7f7f7f;padding-right:0in;"> </td> <td style="border-top:0.5pt solid #7f7f7f;padding-top:0in;padding-left:0in;display:none;vertical-align:top;padding-bottom:0in;border-bottom:0.5pt solid #7f7f7f;padding-right:0in;"> </td> <td style="border-top:0.5pt solid #7f7f7f;padding-top:0in;padding-left:0in;display:none;vertical-align:top;padding-bottom:0in;border-bottom:0.5pt solid #7f7f7f;padding-right:0in;"> </td> <td style="border-top:0.5pt solid #7f7f7f;padding-top:0in;padding-left:0in;display:none;vertical-align:top;padding-bottom:0in;border-bottom:0.5pt solid #7f7f7f;padding-right:0in;"> </td> <td style="border-top:0.5pt solid #7f7f7f;padding-top:0in;padding-left:0in;display:none;vertical-align:top;padding-bottom:0in;border-bottom:0.5pt solid #7f7f7f;padding-right:0in;"> </td> <td style="border-top:0.5pt solid #7f7f7f;padding-top:0in;padding-left:0in;display:none;vertical-align:top;padding-bottom:0in;border-bottom:0.5pt solid #7f7f7f;padding-right:0in;"> </td> <td style="background-color:#7f35b2;padding-top:0in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #7f7f7f;padding-right:0in;"> TotalShareholderReturn($)</td> <td style="background-color:#7f35b2;padding-top:0in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #7f7f7f;padding-right:0in;">Peer GroupTotalShareholderReturn($) (5)</td> <td style="border-top:0.5pt solid #7f7f7f;padding-top:0in;padding-left:0in;display:none;vertical-align:top;padding-bottom:0in;border-bottom:0.5pt solid #7f7f7f;padding-right:0in;"> </td> <td style="border-top:0.5pt solid #7f7f7f;padding-top:0in;border-right:0.5pt solid #7f7f7f;padding-left:0in;display:none;vertical-align:top;padding-bottom:0in;border-bottom:0.5pt solid #7f7f7f;padding-right:0in;"> </td> </tr> <tr style="height:15.1pt;background-color:#e6e6e6;white-space:pre-wrap;word-break:break-word;text-align:center;"> <td style="padding-top:0in;border-left:0.5pt solid #7f7f7f;padding-left:0in;vertical-align:middle;padding-bottom:0in;padding-right:0in;">2025</td> <td style="padding-top:0in;padding-left:0in;vertical-align:middle;padding-bottom:0in;padding-right:0in;">12,793,605</td> <td style="padding-top:0in;padding-left:0in;vertical-align:middle;padding-bottom:0in;padding-right:0in;">21,693,892</td> <td style="padding-top:0in;padding-left:0in;vertical-align:middle;padding-bottom:0in;padding-right:0in;">N/A</td> <td style="padding-top:0in;padding-left:0in;vertical-align:middle;padding-bottom:0in;padding-right:0in;">N/A</td> <td style="padding-top:0in;padding-left:0in;vertical-align:middle;padding-bottom:0in;padding-right:0in;">4,151,894</td> <td style="padding-top:0in;padding-left:0in;vertical-align:middle;padding-bottom:0in;padding-right:0in;">5,574,033</td> <td style="padding-top:0in;padding-left:0in;vertical-align:middle;padding-bottom:0in;padding-right:0in;">167</td> <td style="padding-top:0in;padding-left:0in;vertical-align:middle;padding-bottom:0in;padding-right:0in;">137</td> <td style="padding-top:0in;padding-left:0in;vertical-align:middle;padding-bottom:0in;padding-right:0in;">1,605</td> <td style="padding-top:0in;border-right:0.5pt solid #7f7f7f;padding-left:0in;vertical-align:middle;padding-bottom:0in;padding-right:0in;">25.2%</td> </tr> <tr style="height:15.1pt;white-space:pre-wrap;word-break:break-word;text-align:center;"> <td style="padding-top:0in;border-left:0.5pt solid #7f7f7f;padding-left:0in;vertical-align:middle;padding-bottom:0in;padding-right:0in;">2024</td> <td style="padding-top:0in;padding-left:0in;vertical-align:middle;padding-bottom:0in;padding-right:0in;">12,502,090</td> <td style="padding-top:0in;padding-left:0in;vertical-align:middle;padding-bottom:0in;padding-right:0in;">22,045,479</td> <td style="padding-top:0in;padding-left:0in;vertical-align:middle;padding-bottom:0in;padding-right:0in;">N/A</td> <td style="padding-top:0in;padding-left:0in;vertical-align:middle;padding-bottom:0in;padding-right:0in;">N/A</td> <td style="padding-top:0in;padding-left:0in;vertical-align:middle;padding-bottom:0in;padding-right:0in;">4,474,450</td> <td style="padding-top:0in;padding-left:0in;vertical-align:middle;padding-bottom:0in;padding-right:0in;">5,846,853</td> <td style="padding-top:0in;padding-left:0in;vertical-align:middle;padding-bottom:0in;padding-right:0in;">157</td> <td style="padding-top:0in;padding-left:0in;vertical-align:middle;padding-bottom:0in;padding-right:0in;">158</td> <td style="padding-top:0in;padding-left:0in;vertical-align:middle;padding-bottom:0in;padding-right:0in;">(98)</td> <td style="padding-top:0in;border-right:0.5pt solid #7f7f7f;padding-left:0in;vertical-align:middle;padding-bottom:0in;padding-right:0in;">23.9%</td> </tr> <tr style="height:15.1pt;background-color:#e6e6e6;white-space:pre-wrap;word-break:break-word;text-align:center;"> <td style="padding-top:0in;border-left:0.5pt solid #7f7f7f;padding-left:0in;vertical-align:middle;padding-bottom:0in;padding-right:0in;">2023</td> <td style="padding-top:0in;padding-left:0in;vertical-align:middle;padding-bottom:0in;padding-right:0in;">12,668,832</td> <td style="padding-top:0in;padding-left:0in;vertical-align:middle;padding-bottom:0in;padding-right:0in;">17,266,044</td> <td style="padding-top:0in;padding-left:0in;vertical-align:middle;padding-bottom:0in;padding-right:0in;">N/A</td> <td style="padding-top:0in;padding-left:0in;vertical-align:middle;padding-bottom:0in;padding-right:0in;">N/A</td> <td style="padding-top:0in;padding-left:0in;vertical-align:middle;padding-bottom:0in;padding-right:0in;">3,186,370</td> <td style="padding-top:0in;padding-left:0in;vertical-align:middle;padding-bottom:0in;padding-right:0in;">3,309,249</td> <td style="padding-top:0in;padding-left:0in;vertical-align:middle;padding-bottom:0in;padding-right:0in;">119</td> <td style="padding-top:0in;padding-left:0in;vertical-align:middle;padding-bottom:0in;padding-right:0in;">128</td> <td style="padding-top:0in;padding-left:0in;vertical-align:middle;padding-bottom:0in;padding-right:0in;">1,055</td> <td style="padding-top:0in;border-right:0.5pt solid #7f7f7f;padding-left:0in;vertical-align:middle;padding-bottom:0in;padding-right:0in;">22.0%</td> </tr> <tr style="height:15.1pt;white-space:pre-wrap;word-break:break-word;text-align:center;"> <td style="padding-top:0in;border-left:0.5pt solid #7f7f7f;padding-left:0in;vertical-align:middle;padding-bottom:0in;padding-right:0in;">2022</td> <td style="padding-top:0in;padding-left:0in;vertical-align:middle;padding-bottom:0in;padding-right:0in;">10,728,900</td> <td style="padding-top:0in;padding-left:0in;vertical-align:middle;padding-bottom:0in;padding-right:0in;">11,413,081</td> <td style="padding-top:0in;padding-left:0in;vertical-align:middle;padding-bottom:0in;padding-right:0in;">N/A</td> <td style="padding-top:0in;padding-left:0in;vertical-align:middle;padding-bottom:0in;padding-right:0in;">N/A</td> <td style="padding-top:0in;padding-left:0in;vertical-align:middle;padding-bottom:0in;padding-right:0in;">2,777,755</td> <td style="padding-top:0in;padding-left:0in;vertical-align:middle;padding-bottom:0in;padding-right:0in;">3,077,416</td> <td style="padding-top:0in;padding-left:0in;vertical-align:middle;padding-bottom:0in;padding-right:0in;">119</td> <td style="padding-top:0in;padding-left:0in;vertical-align:middle;padding-bottom:0in;padding-right:0in;">111</td> <td style="padding-top:0in;padding-left:0in;vertical-align:middle;padding-bottom:0in;padding-right:0in;">1,009</td> <td style="padding-top:0in;border-right:0.5pt solid #7f7f7f;padding-left:0in;vertical-align:middle;padding-bottom:0in;padding-right:0in;">20.9%</td> </tr> <tr style="height:15.1pt;background-color:#e6e6e6;white-space:pre-wrap;word-break:break-word;text-align:center;"> <td style="padding-top:0in;border-left:0.5pt solid #7f7f7f;padding-left:0in;vertical-align:middle;padding-bottom:0in;border-bottom:0.5pt solid #7f7f7f;padding-right:0in;">2021</td> <td style="padding-top:0in;padding-left:0in;vertical-align:middle;padding-bottom:0in;border-bottom:0.5pt solid #7f7f7f;padding-right:0in;">N/A</td> <td style="padding-top:0in;padding-left:0in;vertical-align:middle;padding-bottom:0in;border-bottom:0.5pt solid #7f7f7f;padding-right:0in;">N/A</td> <td style="padding-top:0in;padding-left:0in;vertical-align:middle;padding-bottom:0in;border-bottom:0.5pt solid #7f7f7f;padding-right:0in;">20,337,292</td> <td style="padding-top:0in;padding-left:0in;vertical-align:middle;padding-bottom:0in;border-bottom:0.5pt solid #7f7f7f;padding-right:0in;">14,552,522</td> <td style="padding-top:0in;padding-left:0in;vertical-align:middle;padding-bottom:0in;border-bottom:0.5pt solid #7f7f7f;padding-right:0in;">3,678,933</td> <td style="padding-top:0in;padding-left:0in;vertical-align:middle;padding-bottom:0in;border-bottom:0.5pt solid #7f7f7f;padding-right:0in;">2,107,221</td> <td style="padding-top:0in;padding-left:0in;vertical-align:middle;padding-bottom:0in;border-bottom:0.5pt solid #7f7f7f;padding-right:0in;">114</td> <td style="padding-top:0in;padding-left:0in;vertical-align:middle;padding-bottom:0in;border-bottom:0.5pt solid #7f7f7f;padding-right:0in;">123</td> <td style="padding-top:0in;padding-left:0in;vertical-align:middle;padding-bottom:0in;border-bottom:0.5pt solid #7f7f7f;padding-right:0in;">4,222</td> <td style="padding-top:0in;border-right:0.5pt solid #7f7f7f;padding-left:0in;vertical-align:middle;padding-bottom:0in;border-bottom:0.5pt solid #7f7f7f;padding-right:0in;">19.9%</td> </tr> <tr style="white-space:pre-wrap;word-break:break-word;"> <td style="padding-top:0in;padding-left:0in;vertical-align:middle;padding-bottom:0in;padding-right:0in;text-align:center;"> </td> <td style="padding-top:0in;text-indent:8.7pt;padding-left:0in;vertical-align:middle;padding-bottom:0in;padding-right:0in;text-align:left;"> </td> <td style="padding-top:0in;text-indent:8.7pt;padding-left:0in;vertical-align:middle;padding-bottom:0in;padding-right:0in;text-align:left;"> </td> <td style="padding-top:0in;text-indent:8.65pt;padding-left:0in;vertical-align:middle;padding-bottom:0in;padding-right:0in;text-align:left;"> </td> <td style="padding-top:0in;text-indent:8.65pt;padding-left:0in;vertical-align:middle;padding-bottom:0in;padding-right:0in;text-align:left;"> </td> <td style="padding-top:0in;text-indent:8.65pt;padding-left:0in;vertical-align:middle;padding-bottom:0in;padding-right:0in;text-align:left;"> </td> <td style="padding-top:0in;text-indent:8.65pt;padding-left:0in;vertical-align:middle;padding-bottom:0in;padding-right:0in;text-align:left;"> </td> <td style="padding-top:0in;text-indent:2.5pt;padding-left:0in;vertical-align:middle;padding-bottom:0in;padding-right:0in;text-align:left;"> </td> <td style="padding-top:0in;text-indent:2.5pt;padding-left:0in;vertical-align:middle;padding-bottom:0in;padding-right:0in;text-align:left;"> </td> <td style="padding-top:0in;text-indent:9.45pt;padding-left:0in;vertical-align:middle;padding-bottom:0in;padding-right:0in;text-align:left;"> </td> <td style="padding-top:0in;text-indent:7.9pt;padding-left:0in;vertical-align:middle;padding-bottom:0in;padding-right:0in;text-align:left;"> </td> </tr> </table><div class="item-list-element-wrapper" style="display:flex;margin-top:5.8pt;line-height:1.2649999999999997;justify-content:flex-start;align-items:baseline;margin-bottom:0;margin-right:0.4548611111111111in;min-width:0.30000000000000004in;text-align:left;">(1)<div style="display:inline;">Reflects compensation for our Chief Executive Officer, Mr. Hess, who served as our Principal Executive Officer ("PEO") in 2022, 2023, 2024 and 2025.</div></div><div class="item-list-element-wrapper" style="display:flex;margin-top:9pt;line-height:1.2649999999999997;justify-content:flex-start;align-items:baseline;margin-bottom:0;margin-right:0.19166666666666668in;min-width:0.30000000000000004in;text-align:left;">(2)<div style="display:inline;">“Compensation actually paid” has been calculated in accordance with the rules outlined under Item 402(v)(2) of Regulation S-K. Details of the adjustments made to reported Summary Compensation Table total compensation for 2025 to determine “compensation actually paid” are summarized below in footnote (8).</div></div><div class="item-list-element-wrapper" style="display:flex;margin-top:9pt;line-height:1.2649999999999997;justify-content:flex-start;align-items:baseline;margin-bottom:0;min-width:0.30000000000000004in;text-align:left;">(3)<div style="display:inline;">Reflects compensation for our former Chief Executive Officer, Mr. Haley, who served as our PEO in 2021.</div></div><div style="font-size:10pt;font-family:Arial;"><div class="item-list-element-wrapper" style="display:flex;margin-top:9pt;line-height:1.2649999999999997;justify-content:flex-start;align-items:baseline;margin-bottom:0;min-width:0.30000000000000004in;text-align:left;">(4)<div style="display:inline;">Reflects compensation for the following non-PEO NEOs:</div></div><div class="item-list-element-wrapper" style="margin-left:0.3in;display:flex;margin-top:6pt;line-height:1.15;justify-content:flex-start;align-items:baseline;margin-bottom:0;min-width:0.2in;text-align:left;">•<div style="display:inline;">2025: Mr. Krasner, Ms. Gebauer, Ms. Clarke and Mr. Furman</div></div><div class="item-list-element-wrapper" style="margin-left:0.3in;display:flex;margin-top:6pt;line-height:1.15;justify-content:flex-start;align-items:baseline;margin-bottom:0;min-width:0.2in;text-align:left;">•<div style="display:inline;">2024: Mr. Krasner, Ms. Gebauer, Ms. Clarke, Mr. Furman and Mr. Garrard</div></div><div class="item-list-element-wrapper" style="margin-left:0.3in;display:flex;margin-top:6pt;line-height:1.15;justify-content:flex-start;align-items:baseline;margin-bottom:0;min-width:0.2in;text-align:left;">•<div style="display:inline;">2023 and 2022: Mr. Krasner, Ms. Gebauer, Mr. Garrard and Mr. Furman</div></div><div class="item-list-element-wrapper" style="margin-left:0.3in;display:flex;margin-top:6pt;line-height:1.15;justify-content:flex-start;align-items:baseline;margin-bottom:0;min-width:0.2in;text-align:left;">•<div style="display:inline;">2021: Mr. Krasner, Mr. Burwell, Mr. Hess, Ms. Gebauer and Mr. Furman</div></div></div><div><div class="item-list-element-wrapper" style="display:flex;margin-top:9pt;line-height:1.15;justify-content:flex-start;align-items:baseline;margin-bottom:0;margin-right:0.1909722222222222in;min-width:0.30000000000000004in;text-align:left;">(5)<div style="display:inline;">The peer group used for TSR comparisons reflects our compensation benchmarking peer group as disclosed in the CD&A for each year. The peer group comprises the following companies for each year:</div></div><div class="item-list-element-wrapper" style="margin-left:0.3in;display:flex;margin-top:6pt;line-height:1.15;justify-content:flex-start;align-items:baseline;margin-bottom:0;min-width:0.2in;text-align:left;">•<div style="display:inline;">2025: Aon plc, Arch Capital Group Ltd., Arthur J. Gallagher & Co., Automatic Data Processing, Inc., Booz Allen Hamilton Holding Corporation, Brown & Brown, Inc., Cognizant Technology Solutions Corporation, Fidelity National Financial, Inc., Fidelity National Information Services, Inc., First American Financial Corporation, Fiserv, Inc., Marsh & McLennan Companies, Inc., Principal Financial Group, Inc., Robert Half Inc., S&P Global Inc., Unum Group.</div></div><div class="item-list-element-wrapper" style="margin-left:0.3in;display:flex;margin-top:6pt;line-height:1.15;justify-content:flex-start;align-items:baseline;margin-bottom:0;min-width:0.2in;text-align:left;">•<div style="display:inline;">2024, 2023 and 2022: Aon plc, Arthur J. Gallagher & Co., Automatic Data Processing, Inc., Booz Allen Hamilton Holding Corporation, Cognizant Technology Solutions Corporation, Conduent Incorporated, Fidelity National Financial, Inc., Fidelity National Information Services, Inc., First American Financial Corporation, Fiserv, Inc., Marsh & McLennan Companies, Inc., Principal Financial Group, Inc., Robert Half Inc., S&P Global Inc., The Hartford Financial Services Group, Inc., Unum Group.</div></div></div><div style="font-size:10pt;font-family:Arial;"><div class="item-list-element-wrapper" style="margin-left:0.3in;display:flex;margin-top:6pt;line-height:1.15;justify-content:flex-start;align-items:baseline;margin-bottom:0;min-width:0.2in;text-align:left;">•<div style="display:inline;">2021: Aon plc, Arthur J. Gallagher & Co., Automatic Data Processing, Inc., Booz Allen Hamilton Holding Corporation, Cognizant Technology Solutions Corporation, Conduent Incorporated, Fidelity National Financial, Inc., Fidelity National Information Services, Inc., First American Financial Corporation, Fiserv, Inc., Marsh & McLennan Companies, Inc., Nielsen Holdings plc, Principal Financial Group, Inc., Robert Half Inc., S&P Global Inc., The Hartford Financial Services Group, Inc., Unum Group.</div></div></div><div class="item-list-element-wrapper" style="display:flex;margin-top:12pt;line-height:1.15;justify-content:flex-start;align-items:baseline;margin-bottom:0;margin-right:0.5625in;min-width:0.30000000000000004in;text-align:left;">(6)<div style="display:inline;">Reflects WTW’s consolidated reported net income in millions, calculated on a GAAP basis, as reported in our Annual Report on Form 10-K for the relevant year.</div></div><div style="font-size:10pt;font-family:Arial;"><div class="item-list-element-wrapper" style="display:flex;margin-top:9pt;line-height:1.15;justify-content:flex-start;align-items:baseline;margin-bottom:0;margin-right:0.2222222222222222in;min-width:0.30000000000000004in;text-align:left;">(7)<div style="display:inline;">For 2024 and 2025 we have designated Adjusted Operating Margin as our “Company-Selected Measure,” reflecting our view that it is the most important financial performance measure (not otherwise required to be disclosed in the table) linking “compensation actually paid” to Company performance, given its role in our LTIP. In 2023 and 2022, we identified Adjusted Net Revenue as our Company-Selected Measure. We may designate a different financial performance measure as our Company-Selected Measure in future years.</div></div></div><div><div class="item-list-element-wrapper" style="display:flex;margin-top:9pt;line-height:1.15;justify-content:flex-start;align-items:baseline;margin-bottom:0;margin-right:0.8013888888888889in;min-width:0.30000000000000004in;text-align:left;">(8)<div style="display:inline;">The following adjustments were made to Summary Compensation Table total compensation to determine “compensation actually paid” for our NEOs:</div></div> <table style="border-spacing:0;table-layout:auto;width:100.0%;border-collapse:separate;"> <tr style="visibility:collapse;"> <td style="width:69.326%;box-sizing:content-box;"></td> <td style="width:15.337%;box-sizing:content-box;"></td> <td style="width:15.337%;box-sizing:content-box;"></td> </tr> <tr style="height:10pt;background-color:#7f35b2;white-space:pre-wrap;word-break:break-word;text-align:left;"> <td rowspan="2" style="border-top:0.5pt solid #7f7f7f;padding-top:0in;border-left:0.5pt solid #7f7f7f;padding-left:0in;vertical-align:top;padding-bottom:0in;border-bottom:0.5pt solid #7f7f7f;padding-right:0in;"> Adjustments</td> <td colspan="2" style="border-top:0.5pt solid #7f7f7f;padding-top:0in;border-right:0.5pt solid #7f7f7f;padding-left:0in;vertical-align:top;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0in;">2025</td> </tr> <tr style="height:10pt;background-color:#7f35b2;white-space:pre-wrap;word-break:break-word;text-align:left;"> <td style="padding-top:0in;padding-left:0in;vertical-align:middle;padding-bottom:0in;border-bottom:0.5pt solid #7f7f7f;padding-right:0in;"> PEO($)</td> <td style="padding-top:0in;border-right:0.5pt solid #7f7f7f;padding-left:0in;vertical-align:middle;padding-bottom:0in;border-bottom:0.5pt solid #7f7f7f;padding-right:0in;">Non-PEONEO Average($)</td> </tr> <tr style="height:10pt;background-color:#e6e6e6;white-space:pre-wrap;word-break:break-word;"> <td style="padding-top:0in;text-indent:3.1pt;border-left:0.5pt solid #7f7f7f;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0in;text-align:left;">Summary Compensation Table Total</td> <td style="padding-top:0in;text-indent:13.65pt;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0in;text-align:center;">12,793,605</td> <td style="padding-top:0in;border-right:0.5pt solid #7f7f7f;text-indent:13.7pt;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0in;text-align:center;">4,151,894</td> </tr> <tr style="height:10pt;white-space:pre-wrap;word-break:break-word;"> <td style="padding-top:0in;text-indent:2.9pt;border-left:0.5pt solid #7f7f7f;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0in;text-align:left;">Deduction for amount reported in “Share Awards” column of the Summary Compensation Table</td> <td style="padding-top:0in;text-indent:13.7pt;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0in;text-align:center;">(9,182,185) </td> <td style="padding-top:0in;border-right:0.5pt solid #7f7f7f;text-indent:13.7pt;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0in;text-align:center;">(2,125,120) </td> </tr> <tr style="height:10pt;background-color:#e6e6e6;white-space:pre-wrap;word-break:break-word;"> <td style="padding-top:0in;text-indent:2.9pt;border-left:0.5pt solid #7f7f7f;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0in;text-align:left;">Addition of fair value at fiscal year (“FY”) end, of equity awards granted during the FY that remained outstanding (a)</td> <td style="padding-top:0in;text-indent:13.65pt;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0in;text-align:center;">9,086,328</td> <td style="padding-top:0in;border-right:0.5pt solid #7f7f7f;text-indent:13.7pt;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0in;text-align:center;">2,102,934</td> </tr> <tr style="height:10pt;white-space:pre-wrap;word-break:break-word;"> <td style="padding-top:0in;text-indent:3.15pt;border-left:0.5pt solid #7f7f7f;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0in;text-align:left;">Addition of change in fair value at FY end versus prior FY end for awards granted in prior FY that remained outstanding (a)</td> <td style="padding-top:0in;text-indent:13.7pt;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0in;text-align:center;">7,402,695</td> <td style="padding-top:0in;border-right:0.5pt solid #7f7f7f;text-indent:13.7pt;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0in;text-align:center;">937,794</td> </tr> <tr style="height:10pt;background-color:#e6e6e6;white-space:pre-wrap;word-break:break-word;"> <td style="padding-top:0in;text-indent:3.15pt;border-left:0.5pt solid #7f7f7f;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0in;text-align:left;">Addition of change in fair value at vesting date versus prior FY end for awards granted in prior FY that vested during the FY (a)</td> <td style="padding-top:0in;text-indent:13.7pt;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0in;text-align:center;">1,040,942</td> <td style="padding-top:0in;border-right:0.5pt solid #7f7f7f;text-indent:13.7pt;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0in;text-align:center;">165,385</td> </tr> <tr style="height:10pt;white-space:pre-wrap;word-break:break-word;"> <td style="padding-top:0in;text-indent:3.15pt;border-left:0.5pt solid #7f7f7f;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0in;text-align:left;">Addition in respect of any dividends or other earnings paid during applicable FY prior to vesting date of underlying award</td> <td style="padding-top:0in;text-indent:13.7pt;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0in;text-align:center;">553,405</td> <td style="padding-top:0in;border-right:0.5pt solid #7f7f7f;text-indent:13.65pt;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0in;text-align:center;">344,505</td> </tr> <tr style="height:10pt;background-color:#e6e6e6;white-space:pre-wrap;word-break:break-word;"> <td style="padding-top:0in;text-indent:3.15pt;border-left:0.5pt solid #7f7f7f;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0in;text-align:left;">Deduction for values reported in the“Change in Pension Value and Non-Qualified Deferred Compensation Earnings” column of the Summary Compensation Table</td> <td style="padding-top:0in;text-indent:13.65pt;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0in;text-align:center;">(30,094)</td> <td style="padding-top:0in;border-right:0.5pt solid #7f7f7f;text-indent:13.65pt;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0in;text-align:center;">(16,690)</td> </tr> <tr style="height:10pt;white-space:pre-wrap;word-break:break-word;"> <td style="padding-top:0in;text-indent:3.1pt;border-left:0.5pt solid #7f7f7f;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0in;text-align:left;">Addition for the Service Cost attributable to services rendered during the FY (b)</td> <td style="padding-top:0in;text-indent:13.65pt;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0in;text-align:center;">29,196</td> <td style="padding-top:0in;border-right:0.5pt solid #7f7f7f;text-indent:13.65pt;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0in;text-align:center;">13,331</td> </tr> <tr style="height:10pt;background-color:#e6e6e6;white-space:pre-wrap;word-break:break-word;"> <td style="padding-top:0in;text-indent:3.1pt;border-left:0.5pt solid #7f7f7f;padding-left:0in;vertical-align:top;padding-bottom:0in;border-bottom:0.5pt solid #7f7f7f;padding-right:0in;text-align:left;">Compensation Actually Paid</td> <td style="padding-top:0in;text-indent:13.65pt;padding-left:0in;vertical-align:top;padding-bottom:0in;border-bottom:0.5pt solid #7f7f7f;padding-right:0in;text-align:center;">21,693,892</td> <td style="padding-top:0in;border-right:0.5pt solid #7f7f7f;text-indent:13.7pt;padding-left:0in;vertical-align:top;padding-bottom:0in;border-bottom:0.5pt solid #7f7f7f;padding-right:0in;text-align:center;">5,574,033</td> </tr> </table> <div class="item-list-element-wrapper" style="margin-left:0.09999999999999998in;display:flex;margin-top:0;line-height:1.15;justify-content:flex-start;align-items:baseline;margin-bottom:0;min-width:0.30000000000000004in;text-align:left;">(a)<div style="display:inline;">The equity awards included above comprise PSUs and RSUs granted from 2020 through 2024. The fair values of the equity awards were calculated using valuation assumptions that materially differ from those disclosed at the time of grant, including: (1) the fair value of RSU awards was calculated using the closing price of our common shares as of the last day of the applicable year or on the date of vesting, as applicable; (2) the fair value of PSU awards was estimated using the closing price of our common shares as of the last day of the applicable year and adjusted for management’s estimate of performance as of the end of the year.</div></div></div><div style="font-size:10pt;font-family:Arial;"><div class="item-list-element-wrapper" style="margin-left:0.09999999999999998in;display:flex;margin-top:6pt;line-height:1.15;justify-content:flex-start;align-items:baseline;margin-bottom:0;min-width:0.30000000000000004in;text-align:left;">(b)<div style="display:inline;">For disclosures of all significant assumptions used by the Willis Towers Watson Pension Plan for U.S. employees, please refer to our consolidated financial statements included in our Annual Report on Form 10-K for the year ended December 31, 2025. The table below provides a limited summary of the assumptions used to determine service costs for the purposes of “compensation actually paid”:</div></div> <table style="margin-left:0.4in;border-spacing:0;table-layout:auto;width:94.0%;border-collapse:separate;"> <tr style="visibility:collapse;"> <td style="width:27.534%;box-sizing:content-box;"></td> <td style="width:36.233%;box-sizing:content-box;"></td> <td style="width:36.233%;box-sizing:content-box;"></td> </tr> <tr style="height:15.1pt;background-color:#7f35b2;white-space:pre-wrap;word-break:break-word;text-align:left;"> <td style="border-top:0.5pt solid #7f7f7f;padding-top:0in;border-left:0.5pt solid #7f7f7f;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0in;">Year</td> <td style="border-top:0.5pt solid #7f7f7f;padding-top:0in;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0in;">Effective Discount Rate</td> <td style="border-top:0.5pt solid #7f7f7f;padding-top:0in;border-right:0.5pt solid #7f7f7f;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0in;">Assumed Salary Increase Rate</td> </tr> <tr style="height:15.1pt;background-color:#e6e6e6;white-space:pre-wrap;word-break:break-word;text-align:left;"> <td style="padding-top:0in;border-left:0.5pt solid #7f7f7f;padding-left:0in;vertical-align:top;padding-bottom:0in;border-bottom:0.5pt solid #7f7f7f;padding-right:0in;">2025</td> <td style="padding-top:0in;padding-left:0in;vertical-align:top;padding-bottom:0in;border-bottom:0.5pt solid #7f7f7f;padding-right:0in;">5.79%</td> <td style="padding-top:0in;border-right:0.5pt solid #7f7f7f;padding-left:0in;vertical-align:top;padding-bottom:0in;border-bottom:0.5pt solid #7f7f7f;padding-right:0in;">4.00%</td> </tr> </table></div> 12793605 21693892 4151894 5574033 167 137

1605000000

0.252 12502090 22045479 4474450 5846853 157 158

-98000000

0.239 12668832 17266044 3186370 3309249 119 128

1055000000

0.22 10728900 11413081 2777755 3077416 119 111

1009000000

0.209 20337292 14552522 3678933 2107221 114 123

4222000000

0.199 Mr. Hess Mr. Hess Mr. Hess Mr. Hess Mr. Haley <div class="item-list-element-wrapper" style="display:flex;margin-top:9pt;line-height:1.2649999999999997;justify-content:flex-start;align-items:baseline;margin-bottom:0;min-width:0.30000000000000004in;text-align:left;">(4)<div style="display:inline;">Reflects compensation for the following non-PEO NEOs:</div></div><div class="item-list-element-wrapper" style="margin-left:0.3in;display:flex;margin-top:6pt;line-height:1.15;justify-content:flex-start;align-items:baseline;margin-bottom:0;min-width:0.2in;text-align:left;">•<div style="display:inline;">2025: Mr. Krasner, Ms. Gebauer, Ms. Clarke and Mr. Furman</div></div><div class="item-list-element-wrapper" style="margin-left:0.3in;display:flex;margin-top:6pt;line-height:1.15;justify-content:flex-start;align-items:baseline;margin-bottom:0;min-width:0.2in;text-align:left;">•<div style="display:inline;">2024: Mr. Krasner, Ms. Gebauer, Ms. Clarke, Mr. Furman and Mr. Garrard</div></div><div class="item-list-element-wrapper" style="margin-left:0.3in;display:flex;margin-top:6pt;line-height:1.15;justify-content:flex-start;align-items:baseline;margin-bottom:0;min-width:0.2in;text-align:left;">•<div style="display:inline;">2023 and 2022: Mr. Krasner, Ms. Gebauer, Mr. Garrard and Mr. Furman</div></div><div class="item-list-element-wrapper" style="margin-left:0.3in;display:flex;margin-top:6pt;line-height:1.15;justify-content:flex-start;align-items:baseline;margin-bottom:0;min-width:0.2in;text-align:left;">•<div style="display:inline;">2021: Mr. Krasner, Mr. Burwell, Mr. Hess, Ms. Gebauer and Mr. Furman</div></div> <div class="item-list-element-wrapper" style="display:flex;margin-top:9pt;line-height:1.15;justify-content:flex-start;align-items:baseline;margin-bottom:0;margin-right:0.1909722222222222in;min-width:0.30000000000000004in;text-align:left;">(5)<div style="display:inline;">The peer group used for TSR comparisons reflects our compensation benchmarking peer group as disclosed in the CD&A for each year. The peer group comprises the following companies for each year:</div></div><div class="item-list-element-wrapper" style="margin-left:0.3in;display:flex;margin-top:6pt;line-height:1.15;justify-content:flex-start;align-items:baseline;margin-bottom:0;min-width:0.2in;text-align:left;">•<div style="display:inline;">2025: Aon plc, Arch Capital Group Ltd., Arthur J. Gallagher & Co., Automatic Data Processing, Inc., Booz Allen Hamilton Holding Corporation, Brown & Brown, Inc., Cognizant Technology Solutions Corporation, Fidelity National Financial, Inc., Fidelity National Information Services, Inc., First American Financial Corporation, Fiserv, Inc., Marsh & McLennan Companies, Inc., Principal Financial Group, Inc., Robert Half Inc., S&P Global Inc., Unum Group.</div></div><div class="item-list-element-wrapper" style="margin-left:0.3in;display:flex;margin-top:6pt;line-height:1.15;justify-content:flex-start;align-items:baseline;margin-bottom:0;min-width:0.2in;text-align:left;">•<div style="display:inline;">2024, 2023 and 2022: Aon plc, Arthur J. Gallagher & Co., Automatic Data Processing, Inc., Booz Allen Hamilton Holding Corporation, Cognizant Technology Solutions Corporation, Conduent Incorporated, Fidelity National Financial, Inc., Fidelity National Information Services, Inc., First American Financial Corporation, Fiserv, Inc., Marsh & McLennan Companies, Inc., Principal Financial Group, Inc., Robert Half Inc., S&P Global Inc., The Hartford Financial Services Group, Inc., Unum Group.</div></div><div class="item-list-element-wrapper" style="margin-left:0.3in;display:flex;margin-top:6pt;line-height:1.15;justify-content:flex-start;align-items:baseline;margin-bottom:0;min-width:0.2in;text-align:left;">•<div style="display:inline;">2021: Aon plc, Arthur J. Gallagher & Co., Automatic Data Processing, Inc., Booz Allen Hamilton Holding Corporation, Cognizant Technology Solutions Corporation, Conduent Incorporated, Fidelity National Financial, Inc., Fidelity National Information Services, Inc., First American Financial Corporation, Fiserv, Inc., Marsh & McLennan Companies, Inc., Nielsen Holdings plc, Principal Financial Group, Inc., Robert Half Inc., S&P Global Inc., The Hartford Financial Services Group, Inc., Unum Group.</div></div> <div class="item-list-element-wrapper" style="display:flex;margin-top:9pt;line-height:1.15;justify-content:flex-start;align-items:baseline;margin-bottom:0;margin-right:0.2222222222222222in;min-width:0.30000000000000004in;text-align:left;">(7)<div style="display:inline;">For 2024 and 2025 we have designated Adjusted Operating Margin as our “Company-Selected Measure,” reflecting our view that it is the most important financial performance measure (not otherwise required to be disclosed in the table) linking “compensation actually paid” to Company performance, given its role in our LTIP. In 2023 and 2022, we identified Adjusted Net Revenue as our Company-Selected Measure. We may designate a different financial performance measure as our Company-Selected Measure in future years.</div></div> Adjusted Operating Margin Adjusted Operating Margin <div class="item-list-element-wrapper" style="display:flex;margin-top:9pt;line-height:1.15;justify-content:flex-start;align-items:baseline;margin-bottom:0;margin-right:0.8013888888888889in;min-width:0.30000000000000004in;text-align:left;">(8)<div style="display:inline;">The following adjustments were made to Summary Compensation Table total compensation to determine “compensation actually paid” for our NEOs:</div></div> <table style="border-spacing:0;table-layout:auto;width:100.0%;border-collapse:separate;"> <tr style="visibility:collapse;"> <td style="width:69.326%;box-sizing:content-box;"></td> <td style="width:15.337%;box-sizing:content-box;"></td> <td style="width:15.337%;box-sizing:content-box;"></td> </tr> <tr style="height:10pt;background-color:#7f35b2;white-space:pre-wrap;word-break:break-word;text-align:left;"> <td rowspan="2" style="border-top:0.5pt solid #7f7f7f;padding-top:0in;border-left:0.5pt solid #7f7f7f;padding-left:0in;vertical-align:top;padding-bottom:0in;border-bottom:0.5pt solid #7f7f7f;padding-right:0in;"> Adjustments</td> <td colspan="2" style="border-top:0.5pt solid #7f7f7f;padding-top:0in;border-right:0.5pt solid #7f7f7f;padding-left:0in;vertical-align:top;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0in;">2025</td> </tr> <tr style="height:10pt;background-color:#7f35b2;white-space:pre-wrap;word-break:break-word;text-align:left;"> <td style="padding-top:0in;padding-left:0in;vertical-align:middle;padding-bottom:0in;border-bottom:0.5pt solid #7f7f7f;padding-right:0in;"> PEO($)</td> <td style="padding-top:0in;border-right:0.5pt solid #7f7f7f;padding-left:0in;vertical-align:middle;padding-bottom:0in;border-bottom:0.5pt solid #7f7f7f;padding-right:0in;">Non-PEONEO Average($)</td> </tr> <tr style="height:10pt;background-color:#e6e6e6;white-space:pre-wrap;word-break:break-word;"> <td style="padding-top:0in;text-indent:3.1pt;border-left:0.5pt solid #7f7f7f;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0in;text-align:left;">Summary Compensation Table Total</td> <td style="padding-top:0in;text-indent:13.65pt;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0in;text-align:center;">12,793,605</td> <td style="padding-top:0in;border-right:0.5pt solid #7f7f7f;text-indent:13.7pt;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0in;text-align:center;">4,151,894</td> </tr> <tr style="height:10pt;white-space:pre-wrap;word-break:break-word;"> <td style="padding-top:0in;text-indent:2.9pt;border-left:0.5pt solid #7f7f7f;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0in;text-align:left;">Deduction for amount reported in “Share Awards” column of the Summary Compensation Table</td> <td style="padding-top:0in;text-indent:13.7pt;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0in;text-align:center;">(9,182,185) </td> <td style="padding-top:0in;border-right:0.5pt solid #7f7f7f;text-indent:13.7pt;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0in;text-align:center;">(2,125,120) </td> </tr> <tr style="height:10pt;background-color:#e6e6e6;white-space:pre-wrap;word-break:break-word;"> <td style="padding-top:0in;text-indent:2.9pt;border-left:0.5pt solid #7f7f7f;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0in;text-align:left;">Addition of fair value at fiscal year (“FY”) end, of equity awards granted during the FY that remained outstanding (a)</td> <td style="padding-top:0in;text-indent:13.65pt;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0in;text-align:center;">9,086,328</td> <td style="padding-top:0in;border-right:0.5pt solid #7f7f7f;text-indent:13.7pt;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0in;text-align:center;">2,102,934</td> </tr> <tr style="height:10pt;white-space:pre-wrap;word-break:break-word;"> <td style="padding-top:0in;text-indent:3.15pt;border-left:0.5pt solid #7f7f7f;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0in;text-align:left;">Addition of change in fair value at FY end versus prior FY end for awards granted in prior FY that remained outstanding (a)</td> <td style="padding-top:0in;text-indent:13.7pt;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0in;text-align:center;">7,402,695</td> <td style="padding-top:0in;border-right:0.5pt solid #7f7f7f;text-indent:13.7pt;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0in;text-align:center;">937,794</td> </tr> <tr style="height:10pt;background-color:#e6e6e6;white-space:pre-wrap;word-break:break-word;"> <td style="padding-top:0in;text-indent:3.15pt;border-left:0.5pt solid #7f7f7f;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0in;text-align:left;">Addition of change in fair value at vesting date versus prior FY end for awards granted in prior FY that vested during the FY (a)</td> <td style="padding-top:0in;text-indent:13.7pt;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0in;text-align:center;">1,040,942</td> <td style="padding-top:0in;border-right:0.5pt solid #7f7f7f;text-indent:13.7pt;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0in;text-align:center;">165,385</td> </tr> <tr style="height:10pt;white-space:pre-wrap;word-break:break-word;"> <td style="padding-top:0in;text-indent:3.15pt;border-left:0.5pt solid #7f7f7f;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0in;text-align:left;">Addition in respect of any dividends or other earnings paid during applicable FY prior to vesting date of underlying award</td> <td style="padding-top:0in;text-indent:13.7pt;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0in;text-align:center;">553,405</td> <td style="padding-top:0in;border-right:0.5pt solid #7f7f7f;text-indent:13.65pt;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0in;text-align:center;">344,505</td> </tr> <tr style="height:10pt;background-color:#e6e6e6;white-space:pre-wrap;word-break:break-word;"> <td style="padding-top:0in;text-indent:3.15pt;border-left:0.5pt solid #7f7f7f;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0in;text-align:left;">Deduction for values reported in the“Change in Pension Value and Non-Qualified Deferred Compensation Earnings” column of the Summary Compensation Table</td> <td style="padding-top:0in;text-indent:13.65pt;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0in;text-align:center;">(30,094)</td> <td style="padding-top:0in;border-right:0.5pt solid #7f7f7f;text-indent:13.65pt;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0in;text-align:center;">(16,690)</td> </tr> <tr style="height:10pt;white-space:pre-wrap;word-break:break-word;"> <td style="padding-top:0in;text-indent:3.1pt;border-left:0.5pt solid #7f7f7f;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0in;text-align:left;">Addition for the Service Cost attributable to services rendered during the FY (b)</td> <td style="padding-top:0in;text-indent:13.65pt;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0in;text-align:center;">29,196</td> <td style="padding-top:0in;border-right:0.5pt solid #7f7f7f;text-indent:13.65pt;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0in;text-align:center;">13,331</td> </tr> <tr style="height:10pt;background-color:#e6e6e6;white-space:pre-wrap;word-break:break-word;"> <td style="padding-top:0in;text-indent:3.1pt;border-left:0.5pt solid #7f7f7f;padding-left:0in;vertical-align:top;padding-bottom:0in;border-bottom:0.5pt solid #7f7f7f;padding-right:0in;text-align:left;">Compensation Actually Paid</td> <td style="padding-top:0in;text-indent:13.65pt;padding-left:0in;vertical-align:top;padding-bottom:0in;border-bottom:0.5pt solid #7f7f7f;padding-right:0in;text-align:center;">21,693,892</td> <td style="padding-top:0in;border-right:0.5pt solid #7f7f7f;text-indent:13.7pt;padding-left:0in;vertical-align:top;padding-bottom:0in;border-bottom:0.5pt solid #7f7f7f;padding-right:0in;text-align:center;">5,574,033</td> </tr> </table> <div class="item-list-element-wrapper" style="margin-left:0.09999999999999998in;display:flex;margin-top:0;line-height:1.15;justify-content:flex-start;align-items:baseline;margin-bottom:0;min-width:0.30000000000000004in;text-align:left;">(a)<div style="display:inline;">The equity awards included above comprise PSUs and RSUs granted from 2020 through 2024. The fair values of the equity awards were calculated using valuation assumptions that materially differ from those disclosed at the time of grant, including: (1) the fair value of RSU awards was calculated using the closing price of our common shares as of the last day of the applicable year or on the date of vesting, as applicable; (2) the fair value of PSU awards was estimated using the closing price of our common shares as of the last day of the applicable year and adjusted for management’s estimate of performance as of the end of the year.</div></div><div class="item-list-element-wrapper" style="margin-left:0.09999999999999998in;display:flex;margin-top:6pt;line-height:1.15;justify-content:flex-start;align-items:baseline;margin-bottom:0;min-width:0.30000000000000004in;text-align:left;">(b)<div style="display:inline;">For disclosures of all significant assumptions used by the Willis Towers Watson Pension Plan for U.S. employees, please refer to our consolidated financial statements included in our Annual Report on Form 10-K for the year ended December 31, 2025. The table below provides a limited summary of the assumptions used to determine service costs for the purposes of “compensation actually paid”:</div></div> <table style="margin-left:0.4in;border-spacing:0;table-layout:auto;width:94.0%;border-collapse:separate;"> <tr style="visibility:collapse;"> <td style="width:27.534%;box-sizing:content-box;"></td> <td style="width:36.233%;box-sizing:content-box;"></td> <td style="width:36.233%;box-sizing:content-box;"></td> </tr> <tr style="height:15.1pt;background-color:#7f35b2;white-space:pre-wrap;word-break:break-word;text-align:left;"> <td style="border-top:0.5pt solid #7f7f7f;padding-top:0in;border-left:0.5pt solid #7f7f7f;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0in;">Year</td> <td style="border-top:0.5pt solid #7f7f7f;padding-top:0in;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0in;">Effective Discount Rate</td> <td style="border-top:0.5pt solid #7f7f7f;padding-top:0in;border-right:0.5pt solid #7f7f7f;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0in;">Assumed Salary Increase Rate</td> </tr> <tr style="height:15.1pt;background-color:#e6e6e6;white-space:pre-wrap;word-break:break-word;text-align:left;"> <td style="padding-top:0in;border-left:0.5pt solid #7f7f7f;padding-left:0in;vertical-align:top;padding-bottom:0in;border-bottom:0.5pt solid #7f7f7f;padding-right:0in;">2025</td> <td style="padding-top:0in;padding-left:0in;vertical-align:top;padding-bottom:0in;border-bottom:0.5pt solid #7f7f7f;padding-right:0in;">5.79%</td> <td style="padding-top:0in;border-right:0.5pt solid #7f7f7f;padding-left:0in;vertical-align:top;padding-bottom:0in;border-bottom:0.5pt solid #7f7f7f;padding-right:0in;">4.00%</td> </tr> </table> <div class="item-list-element-wrapper" style="display:flex;margin-top:9pt;line-height:1.15;justify-content:flex-start;align-items:baseline;margin-bottom:0;margin-right:0.8013888888888889in;min-width:0.30000000000000004in;text-align:left;">(8)<div style="display:inline;">The following adjustments were made to Summary Compensation Table total compensation to determine “compensation actually paid” for our NEOs:</div></div> <table style="border-spacing:0;table-layout:auto;width:100.0%;border-collapse:separate;"> <tr style="visibility:collapse;"> <td style="width:69.326%;box-sizing:content-box;"></td> <td style="width:15.337%;box-sizing:content-box;"></td> <td style="width:15.337%;box-sizing:content-box;"></td> </tr> <tr style="height:10pt;background-color:#7f35b2;white-space:pre-wrap;word-break:break-word;text-align:left;"> <td rowspan="2" style="border-top:0.5pt solid #7f7f7f;padding-top:0in;border-left:0.5pt solid #7f7f7f;padding-left:0in;vertical-align:top;padding-bottom:0in;border-bottom:0.5pt solid #7f7f7f;padding-right:0in;"> Adjustments</td> <td colspan="2" style="border-top:0.5pt solid #7f7f7f;padding-top:0in;border-right:0.5pt solid #7f7f7f;padding-left:0in;vertical-align:top;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0in;">2025</td> </tr> <tr style="height:10pt;background-color:#7f35b2;white-space:pre-wrap;word-break:break-word;text-align:left;"> <td style="padding-top:0in;padding-left:0in;vertical-align:middle;padding-bottom:0in;border-bottom:0.5pt solid #7f7f7f;padding-right:0in;"> PEO($)</td> <td style="padding-top:0in;border-right:0.5pt solid #7f7f7f;padding-left:0in;vertical-align:middle;padding-bottom:0in;border-bottom:0.5pt solid #7f7f7f;padding-right:0in;">Non-PEONEO Average($)</td> </tr> <tr style="height:10pt;background-color:#e6e6e6;white-space:pre-wrap;word-break:break-word;"> <td style="padding-top:0in;text-indent:3.1pt;border-left:0.5pt solid #7f7f7f;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0in;text-align:left;">Summary Compensation Table Total</td> <td style="padding-top:0in;text-indent:13.65pt;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0in;text-align:center;">12,793,605</td> <td style="padding-top:0in;border-right:0.5pt solid #7f7f7f;text-indent:13.7pt;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0in;text-align:center;">4,151,894</td> </tr> <tr style="height:10pt;white-space:pre-wrap;word-break:break-word;"> <td style="padding-top:0in;text-indent:2.9pt;border-left:0.5pt solid #7f7f7f;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0in;text-align:left;">Deduction for amount reported in “Share Awards” column of the Summary Compensation Table</td> <td style="padding-top:0in;text-indent:13.7pt;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0in;text-align:center;">(9,182,185) </td> <td style="padding-top:0in;border-right:0.5pt solid #7f7f7f;text-indent:13.7pt;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0in;text-align:center;">(2,125,120) </td> </tr> <tr style="height:10pt;background-color:#e6e6e6;white-space:pre-wrap;word-break:break-word;"> <td style="padding-top:0in;text-indent:2.9pt;border-left:0.5pt solid #7f7f7f;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0in;text-align:left;">Addition of fair value at fiscal year (“FY”) end, of equity awards granted during the FY that remained outstanding (a)</td> <td style="padding-top:0in;text-indent:13.65pt;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0in;text-align:center;">9,086,328</td> <td style="padding-top:0in;border-right:0.5pt solid #7f7f7f;text-indent:13.7pt;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0in;text-align:center;">2,102,934</td> </tr> <tr style="height:10pt;white-space:pre-wrap;word-break:break-word;"> <td style="padding-top:0in;text-indent:3.15pt;border-left:0.5pt solid #7f7f7f;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0in;text-align:left;">Addition of change in fair value at FY end versus prior FY end for awards granted in prior FY that remained outstanding (a)</td> <td style="padding-top:0in;text-indent:13.7pt;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0in;text-align:center;">7,402,695</td> <td style="padding-top:0in;border-right:0.5pt solid #7f7f7f;text-indent:13.7pt;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0in;text-align:center;">937,794</td> </tr> <tr style="height:10pt;background-color:#e6e6e6;white-space:pre-wrap;word-break:break-word;"> <td style="padding-top:0in;text-indent:3.15pt;border-left:0.5pt solid #7f7f7f;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0in;text-align:left;">Addition of change in fair value at vesting date versus prior FY end for awards granted in prior FY that vested during the FY (a)</td> <td style="padding-top:0in;text-indent:13.7pt;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0in;text-align:center;">1,040,942</td> <td style="padding-top:0in;border-right:0.5pt solid #7f7f7f;text-indent:13.7pt;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0in;text-align:center;">165,385</td> </tr> <tr style="height:10pt;white-space:pre-wrap;word-break:break-word;"> <td style="padding-top:0in;text-indent:3.15pt;border-left:0.5pt solid #7f7f7f;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0in;text-align:left;">Addition in respect of any dividends or other earnings paid during applicable FY prior to vesting date of underlying award</td> <td style="padding-top:0in;text-indent:13.7pt;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0in;text-align:center;">553,405</td> <td style="padding-top:0in;border-right:0.5pt solid #7f7f7f;text-indent:13.65pt;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0in;text-align:center;">344,505</td> </tr> <tr style="height:10pt;background-color:#e6e6e6;white-space:pre-wrap;word-break:break-word;"> <td style="padding-top:0in;text-indent:3.15pt;border-left:0.5pt solid #7f7f7f;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0in;text-align:left;">Deduction for values reported in the“Change in Pension Value and Non-Qualified Deferred Compensation Earnings” column of the Summary Compensation Table</td> <td style="padding-top:0in;text-indent:13.65pt;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0in;text-align:center;">(30,094)</td> <td style="padding-top:0in;border-right:0.5pt solid #7f7f7f;text-indent:13.65pt;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0in;text-align:center;">(16,690)</td> </tr> <tr style="height:10pt;white-space:pre-wrap;word-break:break-word;"> <td style="padding-top:0in;text-indent:3.1pt;border-left:0.5pt solid #7f7f7f;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0in;text-align:left;">Addition for the Service Cost attributable to services rendered during the FY (b)</td> <td style="padding-top:0in;text-indent:13.65pt;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0in;text-align:center;">29,196</td> <td style="padding-top:0in;border-right:0.5pt solid #7f7f7f;text-indent:13.65pt;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0in;text-align:center;">13,331</td> </tr> <tr style="height:10pt;background-color:#e6e6e6;white-space:pre-wrap;word-break:break-word;"> <td style="padding-top:0in;text-indent:3.1pt;border-left:0.5pt solid #7f7f7f;padding-left:0in;vertical-align:top;padding-bottom:0in;border-bottom:0.5pt solid #7f7f7f;padding-right:0in;text-align:left;">Compensation Actually Paid</td> <td style="padding-top:0in;text-indent:13.65pt;padding-left:0in;vertical-align:top;padding-bottom:0in;border-bottom:0.5pt solid #7f7f7f;padding-right:0in;text-align:center;">21,693,892</td> <td style="padding-top:0in;border-right:0.5pt solid #7f7f7f;text-indent:13.7pt;padding-left:0in;vertical-align:top;padding-bottom:0in;border-bottom:0.5pt solid #7f7f7f;padding-right:0in;text-align:center;">5,574,033</td> </tr> </table> <div class="item-list-element-wrapper" style="margin-left:0.09999999999999998in;display:flex;margin-top:0;line-height:1.15;justify-content:flex-start;align-items:baseline;margin-bottom:0;min-width:0.30000000000000004in;text-align:left;">(a)<div style="display:inline;">The equity awards included above comprise PSUs and RSUs granted from 2020 through 2024. The fair values of the equity awards were calculated using valuation assumptions that materially differ from those disclosed at the time of grant, including: (1) the fair value of RSU awards was calculated using the closing price of our common shares as of the last day of the applicable year or on the date of vesting, as applicable; (2) the fair value of PSU awards was estimated using the closing price of our common shares as of the last day of the applicable year and adjusted for management’s estimate of performance as of the end of the year.</div></div><div class="item-list-element-wrapper" style="margin-left:0.09999999999999998in;display:flex;margin-top:6pt;line-height:1.15;justify-content:flex-start;align-items:baseline;margin-bottom:0;min-width:0.30000000000000004in;text-align:left;">(b)<div style="display:inline;">For disclosures of all significant assumptions used by the Willis Towers Watson Pension Plan for U.S. employees, please refer to our consolidated financial statements included in our Annual Report on Form 10-K for the year ended December 31, 2025. The table below provides a limited summary of the assumptions used to determine service costs for the purposes of “compensation actually paid”:</div></div> <table style="margin-left:0.4in;border-spacing:0;table-layout:auto;width:94.0%;border-collapse:separate;"> <tr style="visibility:collapse;"> <td style="width:27.534%;box-sizing:content-box;"></td> <td style="width:36.233%;box-sizing:content-box;"></td> <td style="width:36.233%;box-sizing:content-box;"></td> </tr> <tr style="height:15.1pt;background-color:#7f35b2;white-space:pre-wrap;word-break:break-word;text-align:left;"> <td style="border-top:0.5pt solid #7f7f7f;padding-top:0in;border-left:0.5pt solid #7f7f7f;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0in;">Year</td> <td style="border-top:0.5pt solid #7f7f7f;padding-top:0in;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0in;">Effective Discount Rate</td> <td style="border-top:0.5pt solid #7f7f7f;padding-top:0in;border-right:0.5pt solid #7f7f7f;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0in;">Assumed Salary Increase Rate</td> </tr> <tr style="height:15.1pt;background-color:#e6e6e6;white-space:pre-wrap;word-break:break-word;text-align:left;"> <td style="padding-top:0in;border-left:0.5pt solid #7f7f7f;padding-left:0in;vertical-align:top;padding-bottom:0in;border-bottom:0.5pt solid #7f7f7f;padding-right:0in;">2025</td> <td style="padding-top:0in;padding-left:0in;vertical-align:top;padding-bottom:0in;border-bottom:0.5pt solid #7f7f7f;padding-right:0in;">5.79%</td> <td style="padding-top:0in;border-right:0.5pt solid #7f7f7f;padding-left:0in;vertical-align:top;padding-bottom:0in;border-bottom:0.5pt solid #7f7f7f;padding-right:0in;">4.00%</td> </tr> </table> 12793605 4151894 -9182185 -2125120 9086328 2102934 7402695 937794 1040942 165385 553405 344505 -30094 -16690 29196 13331 21693892 5574033 0.0579 0.04 Compensation Actually Paid Versus Company and Peer TSR <img alt="img37521968_20.jpg" src="img37521968_20.jpg" style="width:712px;height:368px;"/> Compensation Actually Paid Versus Company and Peer TSR <img alt="img37521968_20.jpg" src="img37521968_20.jpg" style="width:712px;height:368px;"/> Compensation Actually Paid Versus GAAP Net Income <img alt="img37521968_21.jpg" src="img37521968_21.jpg" style="width:712px;height:368px;"/> Compensation Actually Paid Versus Adjusted Operating Margin <img alt="img37521968_22.jpg" src="img37521968_22.jpg" style="width:712px;height:368px;"/> Tabular List of Company Performance Measures The following table alphabetically lists the measures we believe are most important in linking compensation actually paid to company performance during 2025. <table style="border-spacing:0;table-layout:auto;width:100.0%;border-collapse:separate;"> <tr style="visibility:collapse;"> <td style="width:100%;box-sizing:content-box;"></td> </tr> <tr style="height:10pt;background-color:#7f35b2;white-space:pre-wrap;word-break:break-word;text-align:left;"> <td style="border-top:0.5pt solid #7f7f7f;padding-top:0in;border-right:0.5pt solid #7f7f7f;padding-left:0in;vertical-align:top;padding-bottom:0in;border-bottom:0.5pt solid #7f7f7f;text-indent:5.75pt;border-left:0.5pt solid #7f7f7f;padding-right:0in;">Tabular List of Most Important Measures</td> </tr> <tr style="height:10pt;background-color:#e6e6e6;white-space:pre-wrap;word-break:break-word;text-align:left;"> <td style="padding-top:0in;border-right:0.5pt solid #7f7f7f;padding-left:0in;vertical-align:top;padding-bottom:0in;border-bottom:0.5pt solid #7f7f7f;text-indent:32.4pt;border-left:0.5pt solid #7f7f7f;padding-right:0in;"><div class="item-list-element-wrapper" style="margin-left:0.04999999999999993in;text-indent:0;display:flex;margin-top:6pt;line-height:1.15;justify-content:flex-start;align-items:baseline;margin-bottom:0;min-width:0.4in;text-align:left;"><span style="color:#7f35b2;white-space:pre-wrap;font-size:10pt;font-family:Arial;font-kerning:none;min-width:5.373843536387707%;word-break:keep-all;text-indent:0;display:inline-flex;justify-content:flex-start;">(1)<div style="display:inline;">Adjusted EPS Growth</div></div><div class="item-list-element-wrapper" style="margin-left:0.04999999999999993in;text-indent:0;display:flex;margin-top:6pt;line-height:1.15;justify-content:flex-start;align-items:baseline;margin-bottom:0;min-width:0.4in;text-align:left;"><span style="color:#7f35b2;white-space:pre-wrap;font-size:10pt;font-family:Arial;font-kerning:none;min-width:5.373843536387707%;word-break:keep-all;text-indent:0;display:inline-flex;justify-content:flex-start;">(2)<div style="display:inline;">Adjusted Net Revenue</div></div><div class="item-list-element-wrapper" style="margin-left:0.04999999999999993in;text-indent:0;display:flex;margin-top:6pt;line-height:1.15;justify-content:flex-start;align-items:baseline;margin-bottom:0;min-width:0.4in;text-align:left;"><span style="color:#7f35b2;white-space:pre-wrap;font-size:10pt;font-family:Arial;font-kerning:none;min-width:5.373843536387707%;word-break:keep-all;text-indent:0;display:inline-flex;justify-content:flex-start;">(3)<div style="display:inline;">Adjusted Net Revenue Growth</div></div><div class="item-list-element-wrapper" style="margin-left:0.04999999999999993in;text-indent:0;display:flex;margin-top:6pt;line-height:1.15;justify-content:flex-start;align-items:baseline;margin-bottom:0;min-width:0.4in;text-align:left;"><span style="color:#7f35b2;white-space:pre-wrap;font-size:10pt;font-family:Arial;font-kerning:none;min-width:5.373843536387707%;word-break:keep-all;text-indent:0;display:inline-flex;justify-content:flex-start;">(4)<div style="display:inline;">Adjusted Operating Margin</div></div><div class="item-list-element-wrapper" style="margin-left:0.04999999999999993in;text-indent:0;display:flex;margin-top:6pt;line-height:1.15;justify-content:flex-start;align-items:baseline;margin-bottom:0;min-width:0.4in;text-align:left;"><span style="color:#7f35b2;white-space:pre-wrap;font-size:10pt;font-family:Arial;font-kerning:none;min-width:5.373843536387707%;word-break:keep-all;text-indent:0;display:inline-flex;justify-content:flex-start;">(5)<div style="display:inline;">Adjusted Operating Margin Improvement</div></div><div class="item-list-element-wrapper" style="margin-left:0.04999999999999993in;text-indent:0;display:flex;margin-top:6pt;line-height:1.15;justify-content:flex-start;align-items:baseline;margin-bottom:0;min-width:0.4in;text-align:left;"><span style="color:#7f35b2;white-space:pre-wrap;font-size:10pt;font-family:Arial;font-kerning:none;min-width:5.373843536387707%;word-break:keep-all;text-indent:0;display:inline-flex;justify-content:flex-start;">(6)<div style="display:inline;">Free Cash Flow Margin</div></div><div class="item-list-element-wrapper" style="margin-left:0.04999999999999993in;text-indent:0;display:flex;margin-top:6pt;line-height:1.15;justify-content:flex-start;align-items:baseline;margin-bottom:6pt;min-width:0.4in;text-align:left;"><span style="color:#7f35b2;white-space:pre-wrap;font-size:10pt;font-family:Arial;font-kerning:none;min-width:5.373843536387707%;word-break:keep-all;text-indent:0;display:inline-flex;justify-content:flex-start;">(7)<div style="display:inline;">Relative TSR</div></div></td> </tr> </table> Adjusted EPS Growth Adjusted Net Revenue Adjusted Net Revenue Growth Adjusted Operating Margin Adjusted Operating Margin Improvement Free Cash Flow Margin Relative TSR