Icon Energy Limited Annual Report 2017

ICON ENERGY LIMITED AND ITS CONTROLLED ENTITIES FOR THE YEAR ENDED 30 JUNE 2017 Ordinary Share Capital (Note 11) Share-Based Payments Reserve (Note 12) Foreign Exchange Reserve (Note 13) Accumulated Losses Total $ $ $ $ $ Balance 1 July 2015 102,346,082 605,649 126 (44,376,977) 58,574,880 - - - (5,602,229) (5,602,229) - 501 - 501 Total comprehensive income for the year - - 501 (5,602,229) (5,601,728) Share buyback (361,332) - - - (361,332) Reserve transfer for performance rights vested - (406,608) - 406,608 - Increase in share based payments reserve - 99,520 - - 99,520 Total transactions with owners (361,332) (307,088) - 406,608 (261,811) 101,984,750 298,561 627 (49,572,598) 52,711,340 Balance 1 July 2016 101,984,750 298,561 627 (49,572,598) 52,711,340 Total comprehensive income: Loss for the year - - - (5,670,094) (5,670,094) Other comprehensive income - (200) - (200) Total comprehensive income for the year - - (200) (5,670,094) (5,670,295) Reversal of expired performance rights - (298,561) - 298,561 - Total transactions with owners - (298,561) - 298,561 - 101,984,750 - 427 (54,944,131) 47,041,046 The accompanying notes form part of these financial statements. Total comprehensive income: Transactions with owners in their capacity as owners: Transactions with owners in their capacity as owners: Loss for the year Other comprehensive income Balance at 30 June 2016 - attributable to owners of parent entity Balance at 30 June 2017 - attributable to owners of parent entity CONSOLIDATED STATEMENT OF CHANGES IN EQUITY CONSOLIDATED STATEMENT OF CHANGES IN EQUITY for the year ended 30 June 2017 FINANCIAL REPORT 42 ICON ENERGY ANNUAL REPORT 2017