Details of remuneration 2026 KMP Remuneration Focus Areas The Approach to FY26 KMP Executive remuneration remains consistent with FY25 Executive Remuneration policy. It was designed to motivate executives to contribute to a high-performance culture while aligning their remuneration outcomes with the Group’s strategic objectives This approach seeks to: – attract, reward and motivate Executives having regard to their responsibilities and the scale and complexity of the business; – provide competitive remuneration arrangements appropriate to the Group’s needs; and – encourage the effective execution of the Group’s strategy, including the creation and preservation of shareholder value. FY26 comprised two distinct operating phases. During the first half of the year, the Company’s activities were directed towards progressing Block 9 from appraisal into field development and initial production. The executive remuneration framework was therefore calibrated to support the achievement of near-term development and production milestones, including drilling activities, operational readiness and the advancement of crude marketing and sales arrangements. This included a market-informed adjustment to fixed remuneration and a rebalancing of at-risk remuneration to reflect the increasing scale and complexity of the Company’s activities. Following the failure of the Company’s joint operation partner to meet its funding obligations, the Company’s immediate priorities changed materially. Executive focus shifted from progressing the planned development program to managing the consequences of the default, limiting further financial exposure, preserving liquidity, enforcing the Company’s contractual rights and protecting the value of the Block 9 PSC and its underlying assets. This required active management of legal, operational, regulatory and stakeholder matters while preserving the Company’s ability to resume development should circumstances permit. The overall structure of executive remuneration, comprising fixed remuneration and short-term and long-term incentive components, remained unchanged during FY26. In assessing executive performance, the Board considered both progress achieved against the operational objectives established at the beginning of the year and management’s response to the subsequent counterparty default. This approach recognises that, in the circumstances prevailing during the latter part of FY26, protecting the Company’s contractual and economic position and preserving the future development potential of Block 9 were critical components of safeguarding long-term shareholder value. Amounts of remuneration Short-term Benefits Termination Benefits Post Employment Benefits Long-term Benefits 30-Jun-26 Salary and fees $ Cash Bonus $ Termination Payment $ Superannuation $ Long Service Leave $ Equity Settled $ Total $ Non-Executive Directors: Michael Sandy 75,000 – – – – – 75,000 Peter Stickland 75,000 – – – – – 75,000 Executive Director: Andrew Purcell 564,655 49,824 – 29,943 – – 644,422 Key Management: Uno Makotsvana 425,528 76,097 – 29,894 – – 531,519 Christopher Thompson13 358,224 11,877 70,778 26,164 – – 467,043 Duncan Lockhart14 401,117 5,286 138,599 27,366 – – 572,368 1,899,524 143,084 209,377 113,367 – – 2,365,352 The Executive Director’s Cash Bonus was paid in the reporting period and related to an award of 16.7% of the maximum possible STI for the financial year ended 30 June 2026. The cash bonus was paid during the year ended 30 June 2026 in respect of the attainment of FY2025 performance objectives, which were assessed and approved by the Board in September 2025, following the end of the FY2025 performance period. 13 Mr. Christopher Thompson was employed until 29 April 2026. 14 Mr. Duncan Lockhart was employed until 29 April 2026. 29 Melbana Energy Limited Annual Report 2026
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