Icon Energy Limited Annual Report 2022

ICON ENERGY LIMITED AND ITS CONTROLLED ENTITIES FOR THE YEAR ENDED 30 JUNE 2022 NOTE 4 - KEY MANAGEMENT PERSONNEL REMUNERATION 30 June 2022 30 June 2021 (a) $ $ • 374,766 400,152 • 2,053 1,711 • 37,267 37,416 • - - 414,086 439,279 (b) (c) Transactions with Directors and Director Related Entities 19,106 1,224 191 541 1,845,259 1,581,146 1,845,450 1,581,687 - 153,765 18,965 (153,765) (18,965) - - - 4,296,230 3,910,950 There were no performance rights granted as remuneration during the period ended 30 June 2022 (30 June 2021: Nil). Short term employee benefits Cash on hand Cash at bank Remuneration of Directors is disclosed in the administration expenses within the Consolidated Statement of Profit or Loss and other Comprehensive Income whereas other KPMs remuneration - within the emplyee benefits and expenses. CONSOLIDATED ENTITY There were options held by Key Management Personnel during the period ended 30 June 2022 (30 June 2021: Nil). Refer to the remuneration report contained in the directors' report for details of the options held by each of the entity's KMP for the year ended 30 June 2022. Tenement consumables NOTE 7 - EXPLORATION AND EVALUATION EXPENDITURE There was an oustanding amount of $4,796 (included in the total above) as at 30 June 2022 (30 June 2021: Nil) Key management personnel compensation included in employee benefits: NOTE 5 - CASH AND CASH EQUIVALENTS Apart from the details disclosed in this note, no Director has entered into a material contract with the Company or Consolidated Entity since 1 July 2021 and there were no material contracts involving Directors' interests existing at year end. Legal fees paid in the ordinary course of business to CKB Associates Lawyers, a firm which Mr. S Barry has a controlling interest. Performance rights holdings Post employment benefits In the year ended 30 June 2021, inventories were impaired by $153,765 as a result of reassessment and an impairment review of inventory. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS NOTE 6 - INVENTORIES Performance rights provided as remuneration Refer to the remuneration report contained in the directors' report for details of the remuneration paid or payable to each member of the entity's KMP for the year ended 30 June 2022. Long term benefits Termination benefits Add: impairment reversal/(Less: impairment) Less: inventories sold In the year ended 30 June 2022, inventories impairment was reversed by $18,965 as a result of sale of this portion of inventory (note 2(b)) in accordance with AASB 102 Inventories. Exploration and Evaluation expenditure at cost There were no performance rights granted under the executive short-term and long-term incentive scheme that were held during the financial year by Key Management Personnel during the period ended 30 June 2022 (30 June 2021: Nil). Icon Energy Annual Report 2022 43

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