Name: Uno Makotsvana Title: Chief Financial Officer Agreement commenced: 2 December 2022 Term of agreement: No fixed term Details: Mr Makotsvana’s fixed remuneration is $350,000 per annum (exclusive of statutory superannuation). The STI will be up to 25% of the fixed remuneration 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 $315,000. 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. Name: Duncan Lockhart Title: Exploration Manager Agreement commenced: 5 September 2022 Term of agreement: No fixed term Details: Mr Lockhart’s fixed remuneration is $395,000 per annum (exclusive of statutory superannuation). The STI will be up to 10% of the fixed remuneration 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 $355,500. 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. 27 Melbana Energy Limited Annual Report 2023
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