Icon Energy Annual Report 2025 29 ICON ENERGY LIMITED AND ITS CONTROLLED ENTITIES FOR THE YEAR ENDED 30 JUNE 2025 NOTE 3 - INCOME TAX EXPENSE (Continued) 30 June 2025 30 June 2024 $ $ 70,626,537 69,462,201 21,187,961 20,838,660 44,907 81,445 4,951,953 4,964,728 1,442,167 1,495,665 1,931,708 1,962,551 23,119,669 22,801,212 (1,442,167) (1,495,665) 1,442,167 1,495,665 - - 23,119,669 22,801,212 NOTE 4 - KEY MANAGEMENT PERSONNEL REMUNERATION (a) • - 69,879 • - 7,766 - 77,645 (b) (c) Transactions with Directors and Director Related Entities - Professional fees: - 17,125 There was no oustanding amount included in the total above as at 30 June 2025 (30 June 2024: Nil). - Lease Agreement: Key management personnel compensation comprised the following: Short term employee benefits Key management personnel remuneration disclosed for the comparative period (30 June 2024) was included in the administration expenses within the Consolidated Statement of Profit or Loss and other Comprehensive Income whereas employee remuneration is within the employee benefits and expenses. Post employment benefits Performance rights provided as remuneration There were no performance rights granted as remuneration during the period ended 30 June 2025 (30 June 2024: Nil). Performance rights holdings 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 2025 (30 June 2024: Nil). Total deferred tax liabilities not brought to account Deferred Tax Liabilities Tax losses Potential tax benefit Provisions Total deferred tax benefits not brought to account Potential tax benefit Transfer to Deferred Tax Asset Transfer to Deferred Tax Asset Mining and exploration costs Temporary differences Other NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS The Group has a month-to-month lease agreement for its office building with an entity in which Mr. R. James, a director of the Company, has a controlling interest. The lease arrangement commenced on 8 December 2023 and remained in effect throughout the finanial year ended 30 June 2025. Under the lease agreement: For the year ended 30 June 2025, the Company incurred a total of $10,703.83 in relationg to these outgoings and maintenance expenses (30 June 2024: $1,008.42). These amounts are disclosed under Occupancy expenses in the consolidated statement of profit or loss and other comprehensive income. The lease terms are considered to be on conditions more favourable to the Group than those that would reasonably be expected to be available from unrelated third parties in an arm’s length transaction. Professional fees paid in the ordinary course of business to Herb Hero Pty Ltd, a firm which Mr. P Wilson has a controlling interest. Total deferred tax assets not brought to account - net All Directors' fees were formally suspended effective 1 October 2023. Accordingly, no remuneration (including directors’ fees, salaries, superannuation contributions, or other benefits) was paid or payable to the directors of Icon Energy Limited from that date. No KMP received any form of compensation during the year ended 30 June 2025. CONSOLIDATED ENTITY - The Company is responsible for all outgoings, including utility expenses, property rates and taxes, and maintenance costs. - No rental payments are payable by the Company;
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