14 Icon Energy Annual Report 2025 9. DIRECTORS’ AND SENIOR MANAGEMENTS’ INTERESTS As at 30 June 2025, the interests of the Directors and senior management or entities associated with them in shares and options of Icon Energy Limited are: Shareholdings The movement during the year in the number of ordinary shares in Icon Energy Limited held directly, indirectly or beneficially, by each KMP, including their related parties, is as follows: Table 2: Directors' and Executive and Senior Manager' Interests Balance 1.07.2024 Employee Performance Rights Plan Purchases Options Exercised Sold Other changes Balance 30.06.2025 2025 Number Number Number Number Number Number Number Directors Raymond James* 50,462,657 – – – – 100,000,000 150,462,657 Jeffrey Marvin – – – – – – – Peter Wilson – – – – – – – 50,462,657 – – – – 100,000,000 150,462,657 * These KMP’s shareholdings include indirect shareholdings held by their spouse and/or related corporations. Balance 1.07.2023 Employee Performance Rights Plan Purchases Options Exercised Sold Other changes Balance 30.06.2024 2024 Number Number Number Number Number Number Number Directors Stephen Barry* 2,480,389 – – – – (2,480,389) – Raymond James* 50,462,657 – – – – – 50,462,657 Jeffrey Marvin – – – – – – – Peter Wilson – – – – – – – 52,943,046 – – – – (2,480,389) 50,462,657 * These KMP’s shareholdings include indirect shareholdings held by their spouse and/or related corporations. Transactions with Directors and Director Related Entities During the financial year ended 30 June 2025, Icon Energy Limited entered into a number of material transactions with Mr Raymond James, a Director of the Company, and with related entities associated with Mr James. These transactions were conducted on terms assessed by the Board (excluding Mr James where appropriate) as reasonable and on an arm’s length basis. Lease Arrangement On 8 December 2023, the Company signed a month-to-month lease agreement for its office premises with an entity in which Mr Raymond James has a controlling interest. The lease remains ongoing and on terms more favourable to the Group than would be available from unrelated third parties. Unsecured Director Loan In the prior financial year, Mr Raymond James, a Director of the Company, provided an interest-free, unsecured loan of $520,000 to the Company under an agreement dated 13 March 2023, with a term of 2.5 years expiring 13 September 2025. During the financial year, Mr James confirmed that he will not call upon repayment of the loan on its due date unless and until the Company has sufficient funds to do so. This agreement forms part of the loan terms as at reporting date and reflects the Director’s continued financial support of the Company. Directors' Report for the year ended 30 June 2025
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