Icon Energy Annual Report 2025 3 Directors' Report for the year ended 30 June 2025 The Directors of Icon Energy Limited (“Icon Energy” or “the Company”) present their report together with the consolidated financial statements of the Company and its controlled entities ("the Group" or "the Consolidated Entity") for the financial year ended 30 June 2025 and the auditor’s report thereon. In order to comply with the provisions of the Corporations Act 2001, the Directors of Icon Energy report as follows: PRINCIPAL ACTIVITIES The principal activities of Icon Energy during the financial year continued to focus on securing the renewal of Authority to Prospect (ATP) 855, and the progressing the application for Petroleum Lease (PL-1144) over the entire area of ATP 855. After the Queensland Department of Resources (Department, DOR) refused to process the ATP 855 renewal application, Icon appealed to the Supreme Court of Queensland. The Court's favourable ruling declared the refusal null and void, directing the Department to process the application. The renewal application is still under review by the Department. The PL-1144 application was lodged on 30 August 2024. On 6 February 2025, the Department issued a Notice of Proposed Grant of Petroleum Lease (PL-1144). The application is progressing through the standard approval process. DIRECTORS The Directors of the Company who held office during or since the end of the year are set out below: Name Position First Appointed Number of Shares Held* Raymond Swinburn James Chairman Company Secretary Director since 01/02/1993 Company Secretary since 21 October 2022 150,462,657 Jeffrey Marvin Managing Director Director since 31/03/2023 Managing Director since 06/10/2023 – Peter Wilson Non-executive Director Director since 08/09/2023 – * as at the date of this report
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