Icon Energy Limited Annual Report 2022

Notes to the Consolidated Financial Statements for the year ended 30 June 2022 ICON ENERGY LIMITED AND ITS CONTROLLED ENTITIES FOR THE YEAR ENDED 30 JUNE 2022 • • • There were no other related party transactions during the year ended 30 June 2022 or 30 June 2021. Financial position 30 June 2022 30 June 2021 $ $ Assets Current assets 1,886,253 1,619,204 Non-current assets 5,110,044 4,807,061 Total assets 6,996,297 6,426,265 Liabilities Current liabilities 225,050 291,256 Non-current liabilities 5,031,977 4,401,212 Total liabilities 5,257,027 4,692,468 Net Assets 1,739,269 1,733,797 Equity Issued capital 103,458,324 101,985,050 Accumulated losses (101,719,053) (100,251,253) Total equity 1,739,271 1,733,797 Financial performance Loss for the year (1,467,800) (6,919,348) Other comprehensive income - - Total comprehensive income (1,467,800) (6,919,348) Carrying amount included in current liabilities - - Contingent liabilities of the parent entity There are no contingent assets at the date of this report that require disclosure. Contingent liabilties are disclosed in note 20. The accounting policies of the parent entity, which have been applied in determining the financial information shown below, are the same as those applied in the consolidated financial statements. Refer to Note 23 for a summary of the significant accounting policies relating to the Consolidated Entity. NOTE 22 - PARENT ENTITY INFORMATION The parent entity did not have any contractual commitments for the acquisition of property, plant or equipment as at 30 June 2022 or 30 June 2021. Otherwise there are no other after balance sheet date events at the date of signing (30 June 2021: Nil). NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS Interests in subsidiaries are disclosed in note 16. NOTE 19 - RELATED PARTY TRANSACTIONS Guarantees entered into by the parent entity in relation to the debts of its subsidiaries There are no contingent liabilties as at 30 June 2022 (30 June 2021: Nil). NOTE 20 - CONTINGENT LIABILITIES A total of 13,243,677 listed options were exercised after the 30 June 2022 but before the expiry date of 12 September 2022 raising a total of $662,183.35. Transactions with Directors and Director Related Entities are disclosed in note 4. NOTE 21 - EVENTS AFTER BALANCE DATE 52 Icon Energy Annual Report 2022

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