Icon Energy Limited Annual Report 2016

CORPORATE GOVERNANCE STATEMENT continued 20 ICON ENERGY ANNUAL REPORT 2016 2016 CORPORATE GOVERNANCE CHECKLIST Icon Energy’s corporate governance policies conform to the Principles (being those under ASX’s 3rd edition of Corporate Governance Principles and Recommendations dated March 2014). A summary of our disclosure against the Principles are set out below: Corporate Governance Council Recommendation Does ICON follow the recommendation? Principle 1 - Lay solid foundations for management and oversight 1.1 Disclose roles and responsibilities of board and management ☑ 1.2 Undertake appropriate checks before appointing or electing a person as Director ☑ 1.3 Written agreement with each Director and Senior Executive ☑ 1.4 Company Secretary accountable directly to Board ☑ 1.5 Diversity Policy disclosures reported ☑ 1.6 Board performance evaluation undertaken ☑ 1.7 Senior Executive performance evaluation undertaken ☑ Principle 2 – Structure the board to add value 2.1 Nomination committee requirements met ☒ 2.2 Board skills matrix disclosed ☑ 2.3 Director Independence and tenure disclosed ☑ 2.4 Majority of the Board are independent Directors ☑ 2.5 Chair of the Board is an independent Director and not the same person as the CEO ☑ 2.6 Director induction and ongoing training program ☑ Principle 3 – Act ethically and responsibly 3.1 Code of conduct available on website ☑ Principle 4 – Safeguard integrity in corporate reporting 4.1 Audit committee requirements met ☑ 4.2 CEO and CFO financial statements declarations received ☑ 4.3 External auditors attend AGM and available to answer questions from securityholders ☑ Principle 5 – Make timely and balanced disclosure 5.1 Continuous Disclosure Policy available on website ☑ CORPORATE GOVERNANCE STATEMENT