Icon Energy Limited Annual Report 2022

30 REMUNERATION REPORT – AUDITED Key Points o No short-term incentives or long-term incentives were issued by Icon for the 2021-2022 financial year. o There are no performance rights issued to executives or staff which might vest in the future. o Executive salary increases for 2021-2022 were restricted to CPI increases. The Directors of Icon Energy Limited present this Remuneration Report for the Consolidated Entity for the year ended 30 June 2022. The information provided in this report has been audited as required by the Corporations Act 2001 (Cth) and forms part of the Directors’ Report. This Remuneration Report sets out remuneration information for Icon Energy’s Key Management Personnel (KMPs) including the following persons who were Non-Executive Directors and senior executives during the financial year: Table 1: Icon Energy’s Key Management Personnel Name Position Held Non-Executive Directors Stephen Barry Chairman Dr Keith Hilless Director Ray James Director Senior Managers Natalia Fraser Chief Financial Officer and Company Secretary* *As disclosed to the Australian stock exchange, Natalia Fraser resigned her position on 27 September 2022 due to health reasons. 1. REMUNERATION FRAMEWORK The Company’s Remuneration framework is designed to ensure that: • Executive and Senior Managers receive competitive and reasonable market-based levels of base remuneration; • Bonuses and other incentives for Employees and Executives and Senior Managers who perform well in their duties are only payable if they are approved by the Board and in the case of proposed issues of shares or other securities to Directors, by shareholders as well. 2. ROLE OF THE REMUNERATION, NOMINATIONS AND SUCCESSION COMMITTEE The Remuneration, Nominations and Succession Committee is responsible for making recommendations to the Board on remuneration policies. The Committee, where necessary, obtains independent advice on the remuneration packages offered to potential employees. The Company’s Remuneration Report – Audited for the year ended 30 June 2022 26 Icon Energy Annual Report 2022

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