Notes to the Consolidated Financial Statements for the year ended 30 June 2026 Note 31. New and Amended Accounting Policies Adopted by the Group AASB 2023-5: Amendments to Australian Accounting Standards- Lack of Exchangeability AASB 2023-5: Amendments to Australian Accounting Standards- Lack of Exchangeability The Company adopted AASB 2023-5 which amends AASB 121: The Effects of Changes in Foreign Exchange Rates and AASB 1: First-time Adoption of Australian Accounting Standards to require entities to apply a consistent approach to determining whether a currency is exchangeable into another currency and the spot exchange rate to use when it is not exchangeable. AASB 2020-1: Amendments to Australian Accounting Standards – Classification of Liabilities as Current or Non-current The adoption of the amendment did not have a material impact on the financial statements. The Group adopted AASB 2020-1 which amends AASB 101 to clarify requirements for the presentation of liabilities in the statement of financial position as current or non-current. It also clarifies the meaning of “settlement of a liability”. The adoption of the amendment did not have a material impact on the financial statements. AASB 2022-5: Amendments to Australian Accounting Standards – Lease Liability in a Sale and Leaseback The Group adopted AASB 2022-5 which amends AASB 16 to add subsequent measurement requirements for sale and leaseback transactions that satisfy the requirements in AASB 15: Revenue from Contracts with Customers to be accounted for as a sale. The adoption of the amendment did not have a material impact on the financial statements. AASB 2022-6: Amendments to Australian Accounting Standards – Non-Current Liabilities with Covenants The Group adopted AASB 2022-6 which amends AASB 101 to improve the information an entity provides in its financial statements about liabilities from loan arrangements for which the entity’s right to defer settlement of those liabilities for at least 12 months after the reporting period is subject to the entity complying with conditions specified in the loan arrangement. The adoption of the amendment did not have a material impact on the financial statements. Note 32. New and Amended Accounting Policies Not Yet Adopted by the Entity AASB 2021-7c: Amendments to Australian Accounting Standards – Effective Date of Amendments to AASB 10 and AASB 128 and Editorial Corrections; and AASB 2025-4: Amendments to Australian Accounting Standards – Effective Date of Amendments to AASB 10 and AASB 128 AASB 2021-7c defers the application of AASB 2014-10 Amendments to Australian Accounting Standards – Sale or Contribution of Assets between an Investor and its Associate or Joint Venture so that the amendments are required to be applied for annual reporting periods beginning on or after 1 January 2026 instead of 1 January 2018. However, once AASB 2021-7c expires for periods beginning on or after 1 January 2026, AASB 2025-4 defers the mandatory effective date (of amendments to AASB 10 and AASB 128 that were originally made in AASB 2014-10) so that the amendments are required to be applied for annual reporting periods beginning on or after 1 January 2028 instead of 1 January 2025. The Group plans on adopting the amendments to AASB 10 and AASB 128 within AASB 2021-7c for the reporting period ending 30 June 2026 and in line with AASB 2024-4 for the reporting period ending 30 June 2029. The impact of initial application is not yet expected to be material. AASB 18: Presentation and Disclosure in Financial Statements AASB 18 will replace AASB 101 to amend the presentation and disclosure requirements in financial statements which includes: - the presentation of the statement of profit or loss into five categories, namely the operating, investing, financing, discontinued operations and income tax categories, as well as newly-defined operating profit subtotals; - disclosure of management-defined performance measures (MPMs) in a single note; and - enhanced requirements for grouping (aggregation and disaggregation) of information. In addition, the Group will be required to use the operating profit subtotal as the starting point for the statement of cash flows when presenting operating cash flows under the indirect method. The Group plans on adopting the amendment for the reporting period ending 30 June 2028. The Group is still in the process of assessing the impact of the new standard, particularly with respect to the structure of the Group’s statement of profit or loss, the statement of cash flows and the additional disclosures required for MPMs. The Group is also assessing the impact on how information is grouped in the financial statements, including for items currently labelled as “other”. 76 Melbana Energy Limited Annual Report 2026
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