The Remuneration and Nomination Committee has considered remuneration mix both from a “Target” and “Maximum” opportunity perspective to ensure targets that are set are challenging to achieve, and any over‑performance paid is a result of significant and measurable achievement. The remuneration mix for Key Management Personnel for FY25 at award is as follows: 0 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% 68% 79% 87% 68% 66% 74% 100% 82% 32% 21% 13% 16% 15% 7% 16% 18% 19% 18% Fixed Remuneration STI (at Risk) LTI (at Risk) Executive Director – at Target Chief Financial Officer - at Target Chief Operating Officer - at Target Exploration Manager - at Target Executive Director - Achieved Chief Financial Officer - Achieved Chief Operating Officer - Achieved Exploration Manager - Achieved There was no LTI component for the Executive Director in the reporting period. 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 was $581,820 per annum (inclusive of statutory superannuation), effective 1 July 2022. The STI will be up to 50% of the fixed remuneration and paid in cash or shares or both at the discretion of the non-conflicted members of the Remuneration and Nomination Committee in consultation with the executive. Shareholder approval for his next LTI award will be sought at the company’s next general meeting. 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. Remuneration Report (audited) continued 32 Melbana Energy Limited Annual Report 2025
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