The Remuneration Report (as part of the Annual Report) complements, and should be read in conjunction with, the information contained in the corresponding Corporate Governance Statement, which is available at https://www.melbana.com/site/about-us/corporate-governance. Together these documents highlight our commitment to a high-performance culture aimed at strategic growth and value creation. This report has been prepared in accordance with section 300A of the Corporations Act 2001 (Cth) and is audited as required by Section 308(3C) of the Act. The named Key Management Personnel (KMP) in this report are those individuals with the authority and responsibility for planning, directing and controlling the activities of the entity, directly or indirectly, including all directors. The KMP cohort for the financial year ended 30 June 2025 is shown below, and each of the identified KMP members in the cohort was a KMP member for the entire period unless otherwise stated. Directors: – Andrew Purcell - Executive Chairman – Michael Sandy - Non-Executive Director – Peter Stickland - Non-Executive Technical Director Key Management Personnel: – Uno Makotsvana – Chief Financial Officer and Company Secretary – Christopher Thompson – Chief Operating Officer – Duncan Lockhart – Exploration Manager The remuneration report is set out under the following main headings: – Principles used to determine the nature and amount of remuneration – Details of remuneration – Service agreements – Share-based compensation – Additional information – Additional disclosures relating to key management personnel Principles Governing the Nature, Amount and Oversight of Remuneration The objective of the Consolidated Entity’s executive reward framework is to ensure reward for performance is competitive and appropriate for the results delivered. The framework aligns executive reward with the achievement of strategic objectives and the creation of value for shareholders, and it is considered to conform to the market best practices for the delivery of reward. Board The Board has an active role in governance, oversight and evaluation of the remuneration approach including the approval of: – Consolidated entity’s remuneration framework – Director and specific Executive remuneration; and – Incentive performance standards. This approach is designed to align and keep in mind: – The creation of value for the Consolidated Entity’s shareholders; – The Group’s values, purpose, strategic objectives and risk appetite; – The interests of Executives; and – Transparency Remuneration and Nomination Committee The Remuneration and Nomination Committee (the Committee) was established by the Board and operates under a Charter. Its role is to assist and advise the Board on matters relating to the overall remuneration strategies and policies of the Consolidated Entity, including remuneration arrangements for the Executive Chairman, other Executives and Non-Executive Directors. The Remuneration and Nomination Committee has structured an executive remuneration framework that is market competitive and complementary to the reward strategy of the Consolidated Entity. Remuneration Report (audited) 27 Melbana Energy Limited Annual Report 2025
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