Icon Energy Limited Annual Report 2022

Icon Energy Annual Report 2022 11 − Staff and executive incentive schemes; − Board performance assessment and skills analysis; − Board and management succession planning; and − Staff superannuation arrangements. The charter of the Remuneration, Nomination and Succession Committee can be found in the Corporate Governance Section on the Company’s website. BOARD AND SENIOR EXECUTIVE REMUNERATION Remuneration levels and terms of employment for Executive Directors and Senior Executives are formalised in individual Service Agreements. Details of the structure of and amounts paid to Non- executive Directors, executive Directors and other Senior Executives are contained in the Remuneration Report which forms part of the Directors’ Report. The Remuneration Report also describes the nature of the relationship between the performance of Icon Energy and remuneration paid to Senior Executives. The Remuneration, Nomination and Succession Committee reviews the Company’s remuneration strategy and framework on an annual basis. PERFORMANCE EVALUATION A formal performance evaluation of the Board, each Committee of the Board, the Chairman and individual Directors was last completed on 30 August 2022. As part of that review, the Board reviewed its composition, skills and application of those skills, as well as Board procedures and practices to ensure it has the necessary skills andmechanisms to pursue the Company’s strategic objectives. The Senior Executives participate in annual performance reviews. Performance is measured against key performance indicators relevant to the Company’s strategic, operational and business objectives and to each of the Senior Executive’s specific roles. A performance evaluation for the senior executives was undertaken for the current reporting period in accordance with the process set by the Remuneration, Nomination and Succession Committee and as approved by the Board. A summary of the performance evaluation process can be viewed in the Corporate Governance section of the Company’s website. DIVERSITY A key goal of the Board and Management is to contribute positively to the success of the Company by promoting a high performance culture that draws on the diverse and relevant experience, skills, expertise, perspectives and the unique personal attributes of its Board members and employees. As an employer, we are committed to managing diversity by reflecting our Company values of respect, integrity, honesty and personal commitment in maintaining and valuing the differences a diverse workforce brings. The Company applies its Diversity Policy to all Icon Energy Limited’s Directors and employees, including contractors and consultants acting on the Company’s behalf. The Policy covers and includes the recruitment and selection process, terms and conditions of employment including pay, promotion, work assignment, and training as well as any other aspect of employment. Key principles of the Diversity Policy include: − We treat all employees, prospective employees, partners, contractors, consultants and suppliers fairly and equally; − We promote a corporate culture that values diversity and tolerates differences; − We recruit employees and Directors impartially from a diverse field of suitably qualified candidates; − Our recruitment process is designed to ensure that the best people are chosen for the right positions; and − We provide learning and development strategies and opportunities to develop skills and experience of employees for career advancement. Details of the Policy are set out under the Corporate Governance section on the Company’s website. Company – wide assessment at 30/06/2022 Board Management Employees Born in Australia 100% – – Born Overseas – 100% 100% Male 100% – – Female – 100% 100% Aged 21 to 30 years – – – Aged 31 to 40 years – 100% 100% Aged 41 to 50 years – – – Aged over 50 years 100% – –