56 Icon Energy Annual Report 2025 Sustainability Report Icon Energy Limited is Committed to Sustainable Operations and Community Engagement At Icon Energy, we strive to work safely, efficiently, and in harmony with both the environment and the communities we serve. Our aim is to efficiently minimise environmental impact while enhancing the well-being of local communities. Icon’s activities have not varied significantly in the past year. Our core operational focus has been on safety monitoring of our suspended discovery wells which remain suspended. Icon Energy is committed to responsible planning, assessment, monitoring and rehabilitation of all projects. We respect the environment and recognise that thorough planning helps protect and maintain ecosystems and honour the livelihood of the people that Icon works with and within the wider community. Wherever the opportunity arises, Icon Energy also aims to employ local stakeholders whenever possible. Icon Energy’s operational health and safety personnel and operations staff are required to complete all the necessary accreditation to ensure that all personnel remain fully compliant with the oil and gas industry’s stringent health, safety and environmental policies and procedures. COMMUNITY ENGAGEMENT Icon Energy is focused on building and maintaining long-term, collaborative and trusting relationships amongst the communities in which the company operates. Icon Energy respects all cultures and people, seeking to enhance their prosperity, quality of life and their relationship with the land, climate and water resources. We have maintained strong relationships with landholders over the past 25 years and ensure that all landholders and traditional owners are consulted before starting any new activities. SAFETY COMMITMENT Icon Energy operates under a comprehensive Safety Management System designed to protect our staff, contractors and joint venture partners. Icon’s safety strategies and culture focuses on maintaining a safe and incident free workplace as our highest priority. Icon always has, and always will continue to work with its staff, contractors and partners to raise safety awareness and promote positive safety behaviour in the field. Icon Energy’s strong focus on the pre-qualification, training and management of its contractors has resulted in no safety incidents during the year. We appreciate the dedication of our contractors, associates and employees, for their contribution in maintaining our excellent safety record. ENVIRONMENTAL MANAGEMENT Icon is committed to achieving zero emissions by 2050, aligning with the general global consensus. To advance this objective, Icon has developed several new strategies to reduce carbon emissions with gas production from ATP 855 in the Cooper Basin. One notable approach involves cryocap technology, which Air Liquide in the USA has indicated as a feasible solution. This tried and tested technology separates the carbon dioxide from methane using high production pressures, a technique commonly used in oil refineries. Although this process requires higher pressures than usual, it actually provides an additional advantage in enhancing the separation efficiency. Following Icon's PL application, Air Liquide is on hold as current regulations forbid this activity in Queensland. Icon is positioning the methane production to be able to make hydrogen but presently the market for hydrogen is uncertain. Methane has promising advantages over other methods of making hydrogen and, we believe, it should be in demand in future years. Icon Energy understands its responsibility and is committed to minimizing the environmental impact of all our operations. We will continually monitor environmental performance to strict criteria as part of Icon’s planning, operations and rehabilitation activities. Icon Energy is proud to report that the company has once again maintained a zero environmental incidents record. At the beginning of every project, Icon conducts environmental planning and research. We implement, monitor and maintain environmental management measures, ensuring they are consistently checked and recorded. CONCLUSION Icon Energy remains committed to operating with care and respect under its strict Environmental Authorities to ensure the natural environments in which the company operates are preserved for the future generations.
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