10 Icon Energy Annual Report 2025 Directors' Report for the year ended 30 June 2025 DIRECTORS AND AUDITORS’ INDEMNIFICATION The Directors and Company Secretary are indemnified by the Company against any liability incurred in their capacity as an officer of the Company or a related body corporate to the maximum extent permitted by law. The Company has not paid any premiums in respect of any contract insuring the Directors of the Company against a liability for legal costs. The company has not, during or since the end of the financial year, indemnified or agreed to indemnify the auditor of the company or any related entity against a liability incurred by the auditor. During the financial year, the company has not paid a premium in respect of a contract to insure the auditor of the company or any related entity. Details of the nature of the liabilities covered in respect of Directors’ and Officers’ insurance policies are not disclosed as such disclosure is prohibited under the terms of the contracts. The total premium expense for the year was $84,367 (30 June 2024: $87,162). AUDIT AND NON-AUDIT SERVICES Details of the amounts paid or payable to the auditor (William Buck (Qld)) for audit and non-audit services during the year are disclosed in Note 2 of the financial statements. Icon Energy may decide to employ the external auditor on assignments additional to their statutory audit duties where the auditor’s expertise and experience with the group are important. The Board has considered the position and is satisfied that the provision of the non-audit services is compatible with the general standard of independence for auditors imposed by the Corporations Act 2001. The directors are satisfied that the provision of non-audit services by the auditor did not compromise the auditor independence requirements of the Corporations Act 2001 for the following reasons: − all non-audit services have been reviewed by the Board to ensure they do not impact the impartiality and objectivity of the auditor, and − none of the services undermine the general principles relating to auditor independence as set out in APES 110 Code of Ethics for Professional Accountants (including Independence Standards). There are no officers of the Company who are former audit partners of William Buck (Qld). EVENTS AFTER THE BALANCE DATE On 8 August 2025 the Department of Natural Resources and Mines, Manufacturing and Regional and Rural Development requested the Company to provide additional information with respect to the PL-1144 application. The Company has requested an extension to be able to provide the necessary information by 16 December 2025. There has not arisen in the interval between 30 June 2025 and up to date of this report, any other item, transaction, or event of a material or unusual nature likely, in the opinion of the Directors, to affect substantially the operations or state of affairs of the Group in subsequent financial years. LEAD AUDITOR’S INDEPENDENCE DECLARATION UNDER SECTION 307C OF THE CORPORATIONS ACT 2001 The lead auditor’s independence declaration is set out on page 17 and forms part of the Directors’ Report for the period ended 30 June 2025. William Buck (Qld) continues in office in accordance with Section 327 of the Corporations Act 2001. Signed in accordance with a resolution of the Board of Directors of Icon Energy Limited. R S James J R Marvin Chairman Managing Director 30 September 2025 30 September 2025
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