Melbana Energy Limited Annual Report 2022

Service agreements Name: Andrew Purcell Title: Executive Chairman Agreement commenced: 1 April 2021 Term of agreement: No fixed term Details: Mr Purcell’s fixed remuneration is $360,000 per annum (inclusive of statutory superannuation). The STI will be up to 50% of the Annual Salary and paid in cash or shares or both at the discretion of the Board in consultation with the executive. The LTI will issue once every three years equating to a total value of $450,000. The executive can terminate the agreement with 3 months’ notice. The Company can terminate the agreement with 3 months’ notice, or payment in lieu thereof. Key management personnel have no entitlement to termination payments in the event of removal for misconduct. Share-based compensation Issue of shares There were no shares issued to Directors and other key management personnel as part of compensation during the year ended 30 June 2022 (2021: Nil) other than 31,812,050 performance rights that vested and then converted into ordinary shares by the Executive Chairman. Options There were no options over ordinary shares issued to Directors and other key management personnel as part of compensation that were outstanding as at 30 June 2022. Performance rights The terms and conditions of each grant of performance rights affecting remuneration of key management personnel in this financial year or future reporting years are as follows: Type of performance right granted Vesting date and exercisable date Number of performance rights Value per right at grant date $ Vested and exercised 30 June 2022 % Grant date 25 Nov 2021 LTI - Tranche 1 12 Apr 2022 15,906,025 0.02 100 LTI - Tranche 2 12 Apr 2022 15,906,025 0.02 100 Additional information The earnings of the Consolidated Entity for the five years to 30 June 2022 are summarised below: 2022 $ 2021 $ 2020 $ 2019 $ 2018 $ Profit/(loss) after income tax 6,332,812 (1,398,123) (2,157,906) (3,357,696) (6,100,290) Remuneration Report (audited) continued 18 Melbana Energy Limited Annual Report 2022

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