Announcement PDF BOAB METALS LIMITED – ANNUAL FINANCIAL REPORT 2026 ANNUAL FINANCIAL REPORT FOR THE YEAR ENDED 30 JUNE 2026 | PAGE 1 ANNUAL FINANCIAL REPORT 2026 ABN 43 107 159 713 ASX Code: BML BOAB METALS LIMITED – ANNUAL FINANCIAL REPORT 2026 ANNUAL FINANCIAL REPORT FOR THE YEAR ENDED 30 JUNE 2026 | PAGE 2 CORPORATE DIRECTORY Directors Gary Comb (Chairman) Simon Noon (Managing Director & CEO) Richard Monti (Non-Executive Director) Andrew Parker (Non-Executive Director) Company Secretary Jerry Monzu Registered Office Level 7, 3 Hasler Road OSBORNE PARK WA 6017 Tel: 08 6268 0449 Share Registry Automic Group Pty Ltd Level 5 191 St Georges Terrace PERTH WA 6000 Tel: 1300 288 664 Bankers Australian and New Zealand Banking Group Limited 239 Murray Street PERTH WA 6000 Auditors BDO Audit Pty Ltd Level 9, Mia Yellagonga Tower 2 5 Spring Street Perth, WA 6000 Securities Exchange Listings Boab Metals Limited shares are listed on the Australian Securities Exchange. ASX Code: BML OTCQB: BMLQF Website Address www.boabmetals.com BOAB METALS LIMITED – ANNUAL FINANCIAL REPORT 2026 ANNUAL FINANCIAL REPORT FOR THE YEAR ENDED 30 JUNE 2026 | PAGE 3 TABLE OF CONTENTS CORPORATE DIRECTORY.....................................................................................................................................................................2 TABLE OF CONTENTS..............................................................................................................................................................................3 DIRECTORS’ REPORT...............................................................................................................................................................................4 REMUNERATION REPORT – AUDITED.......................................................................................................................................11 OPTIONS OVER ORDINARY SHARES.........................................................................................................................................21 NON-AUDIT SERVICES.......................................................................................................................................................................... 21 AUDITOR’S INDEPENDENCE DECLARATION.....................................................................................................................22 CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME .... 23 CONSOLIDATED STATEMENT OF FINANCIAL POSITION...........................................................................................24 CONSOLIDATED STATEMENT OF CHANGES IN EQUITY ............................................................................................25 CONSOLIDATED STATEMENT OF CASH FLOWS..............................................................................................................26 NOTES TO THE FINANCIAL STATEMENTS .............................................................................................................................27 CONSOLIDATED ENTITY DISCLOSURE STATEMENT.....................................................................................................78 DIRECTORS’ DECLARATION............................................................................................................................................................80 INDEPENDENT AUDITOR’S REPORT..........................................................................................................................................81 SHAREHOLDER INFORMATION ...................................................................................................................................................86 BOAB METALS LIMITED – ANNUAL FINANCIAL REPORT 2026 ANNUAL FINANCIAL REPORT FOR THE YEAR ENDED 30 JUNE 2026 | PAGE 4 DIRECTORS’ REPORT The Directors present their report together with the consolidated financial statements of the Group comprising of Boab Metals Limited (“Boab or the Company”) and its subsidiaries (“the Group”) for the financial year ended 30 June 2026 and the auditor’s report thereon. The Directors’ report and consolidated financial statements are presented in Australian dollars, except where otherwise indicated. Directors The Directors of the Company at any time during or since the end of the financial year are: Gary Comb BE(Mech), BSc, Dip Ed. Chairman (Appointed 9 March 2020) Gary is an engineer with over 30 years’ experience in the Australian mining industry, with a strong track record in successfully commissioning and operating base metal mines. He was Chairman of Finders Resources Limited from 2013 until its takeover in 2018. Mr Comb was previously the Managing Director of Jabiru Metals Limited and the CEO of BGC Contracting Pty Ltd. Interests in Shares, Options and Performance Rights • 1,433,048 Ordinary Shares (2025: 801,709), reflecting the conversion of 600,000 Class “B” Performance Rights to ordinary shares on 3 February 2026 on achievement of the Project Finance vesting condition, together with 31,339 shares purchased on market during the year (Note 26). • Nil Class “B” Unlisted Performance Rights (2025: 600,000) — fully vested and converted during the year. • 800,000 Class “C” Unlisted Performance Rights (unchanged — vesting condition not yet met). • 500,000 Class “D” (2025), 500,000 Class “E” (2025) and 1,000,000 Class “F” (2025) Performance Rights (unvested, granted during the year). Other Current Directorships Cyprium Metals Limited (since June 2019) Other Former Directorships in Listed Entities in the Past Three Years None Simon Noon MAICD, FAIM Managing Director & CEO (Appointed 19 October 2013) Simon is an experienced mining executive with over 15 years’ experience managing Public Resources Companies. Simon has a strong background in strategic management, business planning, finance and capital raising across a variety of commodities. Simon’s experience includes managing Groote Resources Ltd from a Market Cap under $10M to market highs in excess of $200M. After leaving Groote, Simon co-founded West Rock Resources Ltd where he held the position of Managing Director until the company was acquired by Boab Metals Ltd in 2013. As Managing Director of West Rock, Simon secured and operated joint ventures and strategic alliances with mid and top tier miners. Since his appointment in 2013, Simon has managed the Company’s exploration and evaluation of a range of projects across Australia and South America. Most notably, Simon led the Company’s transformative acquisition of Sorby Hills in Western Australia in 2018. BOAB METALS LIMITED – ANNUAL FINANCIAL REPORT 2026 ANNUAL FINANCIAL REPORT FOR THE YEAR ENDED 30 JUNE 2026 | PAGE 5 Over FY26, Simon led the Company through Final Investment Decision, the exercise of the option over Yuguang’s 25% interest, and the commencement of construction at Sorby Hills. Simon is a passionate member of the WA resources industry, a member of the Australian Institute of Company Directors and an Associate Fellow of the Australian Institute of Management. Interests in Shares, Options and Performance Rights • 6,190,933 Ordinary Shares (2025: 2,933,787), reflecting the conversion of 2,000,000 Class “B” (2022) Performance Rights (Project Finance milestone, 3 February 2026), 735,484 STI MD Class “B” Performance Rights (FID milestone, 3 February 2026) and 490,323 STI MD Class “A” Performance Rights (construction permits milestone, 10 February 2026) to ordinary shares during the year, together with 31,339 shares purchased on market (Note 26). • Nil Class “B” Unlisted Performance Rights (2025: 2,000,000) — fully vested and converted during the year. • 2,400,000 Class “C” Unlisted Performance Rights (unchanged — vesting condition not yet met). • Nil STI MD Class “A” and Class “B” Performance Rights (fully vested and converted during the year); • 1,000,000 Class “D” (2025), 1,000,000 Class “E” (2025) and 2,000,000 Class “F” (2025) Performance Rights (unvested, granted during the year). Other Former Directorships in Listed Entities in the Past Three Years None Richard Monti BSc (Hons), Grad Dip AppFin., MAusIMM Non-Executive Director (Appointed 12 October 2009) Richard was Non-Executive Chairman from 12 October 2009 to 6 March 2020 and since then has served as Non-Executive Director of Boab. Richard is a geologist with a successful career of over thirty years in the international mineral resource industry resulting in broad industry knowledge and strong strategic planning capabilities. Richard has extensive experience on sixteen ASX and TSX listed mining and exploration companies from micro-caps through to mid-size miners and has built and managed teams of up to seventy personnel. Richard was principal of a corporate advisory firm, Ventnor Capital, from 2005 to 2010 and is currently principal of Terracognita which supplies advice to resource industry companies. Interests in Shares, Options and Performance Rights • 2,055,872 Ordinary Shares (2025: 1,655,872), reflecting the conversion of 400,000 Class “B” Performance Rights to ordinary shares on 3 February 2026 on achievement of the Project Finance vesting condition (Note 26). • Nil Class “B” Unlisted Performance Rights (2025: 400,000) — fully vested and converted during the year. • 500,000 Class “C” Unlisted Performance Rights (unchanged — vesting condition not yet met). • 375,000 Class “D” (2025), 375,000 Class “E” (2025) and 750,000 Class “F” (2025) Performance Rights (unvested, granted during the year). BOAB METALS LIMITED – ANNUAL FINANCIAL REPORT 2026 ANNUAL FINANCIAL REPORT FOR THE YEAR ENDED 30 JUNE 2026 | PAGE 6 Other Current Directorships Strata Minerals Limited (since 24 November 2024) Caravel Minerals Limited (since 17 August 2020)) Other Former Directorships in Listed Entities in the Past Three Years Alto Metals Limited (resigned 9 December 2024) Andrew Parker LLB Non-Executive Director (Appointed 12 October 2009) Andrew holds a law degree from the University of Western Australia and has significant experience in the exploration and mining industry and a wealth of expertise in corporate advisory, strategic consultancy, and capital raisings. Before joining Boab, he co-founded Trident Capital Pty Ltd, a corporate advisory and venture capital firm where he held the position of Managing Director until 2008. Andrew is also the Non-Executive Chairman of ASX listed Widgie Nickel Limited. Interests in Shares, Options and Performance Rights • 929,186 Ordinary Shares (2025: 529,186), reflecting the conversion of 400,000 Class “B” Performance Rights to ordinary shares on 3 February 2026 on achievement of the Project Finance vesting condition (Note 26). • Nil Class “B” Unlisted Performance Rights (2025: 400,000) — fully vested and converted during the year. • 500,000 Class “C” Unlisted Performance Rights (unchanged — vesting condition not yet met). • 375,000 Class “D” (2025), 375,000 Class “E” (2025) and 750,000 Class “F” (2025) Performance Rights (unvested, granted during the year). Other Current Directorships WIN Metals Limited (since 1 July 2021) Other Former Directorships in Listed Entities in the Past Three Years None Company Secretary Jerry Monzu FGIA, CPA, BBus Jerry is a corporate executive with over 30 years’ experience in corporate governance, finance and accounting across various industry sectors within Australia and globally, acting as Company Secretary, Chief Financial Officer and Non-Executive Director of several private and listed ASX, JSE and AIM companies throughout his career. BOAB METALS LIMITED – ANNUAL FINANCIAL REPORT 2026 ANNUAL FINANCIAL REPORT FOR THE YEAR ENDED 30 JUNE 2026 | PAGE 7 Directors’ Meetings The following table sets out the number of directors’ meetings held during the financial year and the number of meetings attended by each director while they held the position. Given the small size of the Company’s board, the Directors engage regularly informally outside of Board meetings to ensure the efficient and effective direction and management of the Company. The Company does not have a separate Remuneration Committee. Given the size of the Board, the full Board performs the functions of a Remuneration Committee, including reviewing and determining the remuneration arrangements of Directors and Executives — refer to the Remuneration Report for further detail. Director Eligible Attended Gary Comb 7 7 Simon Noon 7 7 Richard Monti 7 7 Andrew Parker 7 7 Principal Activities The principal activities of the Group during the year were the exploration and development of the Sorby Hills Project in the East Kimberley Region of Western Australia (“Sorby Hills or Project”). The Project is currently under construction with first production expected in the second half of 2027. Dividends No final dividend has been declared for the financial year ended 30 June 2026 (2025: nil). Rounding The Company is an entity to which ASIC Corporations (Rounding in Financial/Directors' Reports) Instrument 2026/183 applies. Accordingly, amounts in the Directors' Report and the consolidated financial statements have been rounded off to the nearest dollar, unless otherwise stated, in accordance with that Instrument. Financial and Operating Review Overview of Company performance A summary of Group’s performance as measured by a range of financial and other indicators, including disclosure required by the Corporations Act 2001 (Cth), is outlined in the following table: Measure 2026 2025 2024 2023 2022 Loss after tax ($) (7,221,561) (3,840,535) (3,321,974) (5,917,433) (6,804,523) Basic loss per share ($ cents) (1.66) (1.63) (1.80) (3.58) (4.44) Dividend payments - - - - - Dividend payment ratio (%) - - - - - Increase/(decrease) in share price (%) 126.67% 63.04% (45.95%) 2.78% (60.92%) KMP incentives as percentage of the loss for the year (%) 16.59% 5.98% 5.32% 6.25% - BOAB METALS LIMITED – ANNUAL FINANCIAL REPORT 2026 ANNUAL FINANCIAL REPORT FOR THE YEAR ENDED 30 JUNE 2026 | PAGE 8 Current Year Financial Review The Group began the financial year with a cash reserve of $7,528,528. During the year, the Group completed capital raisings totalling A$116,999,986 before costs (see ‘Corporate Activities’ in the Review of Operations and Note 15) and reached contractual close on its new A$236,000,000 syndicated loan facility (SFA) (Note 29) to fund construction of the Sorby Hills Project, with financial close and construction drawdown pending satisfaction of the conditions precedent described in Note 29. The result for the year was an operating loss before income tax of $7,384,208 (2025: $3,840,535). As at 30 June 2026, available cash funds totalled $60,862,295 (2025: $7,528,528). Operating Results Consistent with the Board’s focus on the Sorby Hills Project as a single integrated project (Note 4), operating results below are presented on that basis rather than by geography. 2026 $ 2025 $ Revenue 2,236,549 174,312 Loss Before Income Tax (7,384,208) (3,840,535) Significant Changes in the State of Affairs During the year there were no significant changes in the state of affairs of the Group, other than as disclosed in this report. Matters Subsequent to the End of the Financial Year On 28 September 2026, the Group announced the execution of a binding Heads of Agreement ("HOA") for the provision of mining services at Sorby Hills. On 29 September 2026, the Group released an updated Mineral Resource Estimate which increased the total Mineral Resource by 7% to 50.6Mt (at 3.0% Pb, 34g/t Ag and 0.4% Zn) and increased Measured and Indicated Resources at the Bimota, Omega and Norton deposits by 10%. On 29 September 2026, the Group released its Sorby Hills Project Delivery Plan, providing an updated assessment of project capital and operating costs (total capital expenditure of $262 million, of which $205 million remains to be spent) incorporating contracted costs to date. Likely Developments The Directors are not aware of any likely developments of which could be expected to significantly affect the results of the Group’s operations in future financial years not otherwise disclosed in the Principal Activities, Financial and Operating Review or Matters Subsequent to the End of the Financial Year sections of the Directors’ Report. Environmental Regulation and Performance The Group is subject to substantial environmental regulation regarding its exploration, development and construction activities. The Group endeavours to maintain an appropriate standard of environmental care through awareness of, and compliance with, new and existing environmental legislation. The Directors are not aware of any breach of environmental legislation for the year under review. BOAB METALS LIMITED – ANNUAL FINANCIAL REPORT 2026 ANNUAL FINANCIAL REPORT FOR THE YEAR ENDED 30 JUNE 2026 | PAGE 9 Risk Management The Board is responsible for ensuring that risks and opportunities are identified on a timely basis and that activities are aligned with these. The Board has several mechanisms in place to ensure that management’s objectives are aligned with Board identified risks. Mechanisms include Board approval of a strategic plan (designed to meet stakeholders’ needs and reduce business risk), and Board approved operating and construction budgets (with progress monitored by the Board). Financial Risks The Group’s activities expose it to a variety of financial risks: market risk (including foreign currency risk, commodity price risk and interest rate risk), credit risk and liquidity risk. The Group’s overall risk management program focuses on the unpredictability of financial markets and seeks to minimise potential adverse effects on the financial performance of the Group. Following contractual close of the Group’s loan facility during the year, the Group’s exposure to financial risk has increased. The facility is provided by a syndicate of lenders and comprises an Australian dollar tranche and a United States dollar tranche; no amount has yet been drawn for construction purposes, financial close remaining pending satisfaction of the conditions precedent described in Note 29. The Facility carries a fixed interest rate, and its future dual-currency drawdown will expose the Group to foreign currency risk on translation and repayment of the USD tranche. Refer to Note 3 and Note 29 for further detail on the composition, currency split, interest rate basis and sensitivity analysis relating to the facility. While the facility is fully committed, drawdowns are made in tranches, each conditional on the Group satisfying customary construction-finance conditions precedent at the relevant time. This does not put the availability of the facility itself in doubt but does give rise to a liquidity timing risk — namely, that funding for a specific payment obligation could in principle be delayed if a condition precedent is not satisfied by the date scheduled for that payment. The Board manages this risk through cash flow forecasting that incorporates the expected timing of drawdown conditions relative to the construction payment schedule, and through regular engagement with the syndicate on progress against those conditions. Refer to Note 1(a)(iii) for the Directors’ assessment of this risk in the context of the going concern basis of preparation. Various methods are used to measure risks to which the Group is exposed, including sensitivity analysis for interest rate, foreign exchange and other price risks, and ageing analysis for credit risk. Risk management is carried out by the accounting team under Board approved policies covering identification and analysis of risk exposure, risk limits, and appropriate procedures and controls. Reporting is provided to the Board. Construction and Project Delivery Risks Having reached Final Investment Decision and commenced construction, the Group is now exposed to construction cost overrun, schedule delay and contractor performance risk in delivering the Sorby Hills Project to its targeted first concentrate production date in the second half of 2027. The Board monitors project delivery against the SFA financial metrics and schedule baseline, receives regular construction progress reporting, and has structured project finance drawdowns and contractor payment milestones to align funding with physical progress. BOAB METALS LIMITED – ANNUAL FINANCIAL REPORT 2026 ANNUAL FINANCIAL REPORT FOR THE YEAR ENDED 30 JUNE 2026 | PAGE 10 Environmental Risks The Company's operations and activities are subject to the environmental laws of Australia and any other places the Company may conduct business. Now that construction of the Sorby Hills Project has commenced, the Company's operations and activities have a direct impact on the environment, and the Company attempts to conduct its operations and activities to the highest standard of environmental obligation, including compliance with all environmental laws, regulations and approval conditions attaching to its State and Federal environmental approvals. The Company is unable to predict the effect of additional environmental laws and regulations which may be adopted in the future, including whether any such laws or regulations would materially increase the Company's cost of doing business or affect its operations in any area. There can be no assurances that new environmental laws, regulations or stricter enforcement policies, once implemented, will not oblige the Company to incur expenses and undertake investments which could have a material adverse effect on the Company's operations, financial position and performance. Regulatory and Social Licence Risks Construction and future production are dependent upon the granting and maintenance of appropriate licences, permits and regulatory consents and authorisations, which may not be granted or may be withdrawn or made subject to limitations at the discretion of government or regulatory authorities. Although the authorisations may be renewed following expiry or grant (as the case may be), there can be no assurance that such authorisations will be continued, renewed or granted, or as to the terms of renewals or grants. If the Company cannot obtain or retain the appropriate authorisations or there is a material delay in obtaining or renewing them or they are granted subject to onerous conditions, then the Company's ability to conduct its construction or future production operations may be affected. Corporate Governance Risks The Directors support and adhere to the principles of corporate governance in order to mitigate and safeguard any potential risks in this area, recognising the need for the highest standard of corporate behaviour and accountability. The Directors are focused on fulfilling their responsibilities individually, and as a Board, for the benefit of all Company stakeholders. The Board supports the guidelines on the ‘Principles of Good Corporate Governance and Recommendations – 4th Edition’ established by the ASX Corporate Governance Council. Given the size and structure of the Group, the nature of its business activities, the stage of its development and the cost of strict and detailed compliance with all of the recommendations, it has adopted a range of modified systems, procedures and practices which enable it to meet the principles of good corporate governance. Corporate Governance policies can be found on the Company website. Insurance of Directors and Officers During the financial year, the Group has paid an insurance premium in respect of a Directors’ and Officers’ Liability insurance contract. The insurance premium relates to liabilities that may arise from an officer’s position, except for conduct involving a wilful breach of duty or improper use of information or position to gain personal advantage. The contract of insurance prohibits the disclosure of the nature of the liabilities and the amount of premium. BOAB METALS LIMITED – ANNUAL FINANCIAL REPORT 2026 ANNUAL FINANCIAL REPORT FOR THE YEAR ENDED 30 JUNE 2026 | PAGE 11 REMUNERATION REPORT – AUDITED The Directors of Boab Metals Limited present the Remuneration Report for the Company and its controlled entities (collectively, the Group) for the year ended 30 June 2026. This Remuneration Report (Report) forms part of the Directors’ Report and has been audited in accordance with section 300A of the Corporations Act 2001. • A. Principles used to determine the nature and amount of remuneration • B. Details of remuneration • C. Service agreements • D. Share-based compensation • E. Additional information The information provided under headings A–E includes disclosures that are required under Accounting Standard AASB 124 Related Party Disclosures. These disclosures have been transferred from the financial report and have been audited. A. Principles Used to Determine the Nature and Amount of Remuneration Remuneration Policy The remuneration policy of the Group aligns Directors and Executives with shareholder and business objectives by providing a fixed remuneration component and offering specific long- term incentives based on key performance areas affecting the Group’s financial results. The Board believes the policy is appropriate and effective in its ability to attract and retain high calibre Executives and Directors. The Board’s policy for determining the nature and amount of remuneration for Directors and Executives of the Group is as follows: • All Executives receive a base salary (based on factors such as experience) plus statutory superannuation. • The Board reviews Executive packages with reference to the Group’s performance, Executive performance and information from relevant industry sectors and comparable listed companies. Independent external advice is sought where required. • The Board may exercise discretion in relation to approving incentives, bonuses, and the issue of options. • All remuneration paid to Directors and Executives is valued at the cost to the Group and expensed. The maximum aggregate amount of fees that can be paid to Non-Executive Directors is subject to approval by shareholders at the Annual General Meeting (currently $300,000). Director fees are not linked to the performance of the Group, however, to align Director and shareholder interests, the Directors are encouraged to hold Company shares. Performance Based Remuneration The Group has issued performance rights which form part of the Directors’ and Executives’ remuneration packages. These performance rights have various vesting conditions based on market and operational hurdles being met (these hurdles can be found within this report in the section covering Performance Rights). Group Performance, Shareholder Wealth and Directors’ and Executives’ Remuneration The Group's remuneration policy encourages the alignment of personal and shareholder interests through the issue of options and performance rights to Directors and Executives. BOAB METALS LIMITED – ANNUAL FINANCIAL REPORT 2026 ANNUAL FINANCIAL REPORT FOR THE YEAR ENDED 30 JUNE 2026 | PAGE 12 The Board believes this policy is effective in increasing shareholder wealth. Executive remuneration was not benchmarked against external peer group or market data during the year, and the Company did not use any external remuneration consultants in the financial year. The Board acts in its capacity as the Remuneration Committee in assessing and determining Executive remuneration, having regard to its own knowledge and experience of the industry and the Group's circumstances. Voting and Comments on the Remuneration Report at the 2025 Annual General Meeting At the Company’s 2025 Annual General Meeting (“AGM”), a resolution to adopt the 2025 remuneration report was put to a vote and passed on a poll with a 95.77% majority, no comments were made at the meeting in regard to the remuneration report. B. Details of Remuneration Details of the remuneration of the Directors and Key Management Personnel as defined in AASB 124 Related Party Disclosures of the Group are set out in the following table. Two new Key Management Personnel were appointed during the year: a General Manager Finance and a Project Director, both of whom are employees of the Group rather than Directors. 2026 Salary & Fees Non- Monetary Super- annuation Leave Accrued Performance Rights Total Perfor mance Relate $ $ $ $ $ $ % Directors G. Comb 114,000 - 13,680 - 115,452 243,132 47% S. Noon 389,255 - 30,000 9,953 850,035 1,279,243 66% R. Monti 63,000 - 7,560 - 78,661 149,221 53% A. Parker 63,000 - 7,560 - 78,661 149,221 53% KMP R. van der Berg* 78,846 - 9,462 296 - 88,604 - R. Taylor# 264,230 - 30,000 6,100 75,358 375,688 20% Totals 972,331 - 98,262 16,349 1,198,167 2,285,109 *Mr vd Berg was appointed 4 March 2026 # Mr Taylor was appointed 12 September 2025 2025 Salary & Fees Non- Monetary Super- annuation Leave Accrued Performance Rights Total Perfor mance Relate $ $ $ $ $ $ % Directors G. Comb 100,000 - 11,500 - 41,759 153,259 27% S. Noon 320,000 6,110 30,000 - 134,067 490,177 27% R. Monti 48,000 - 5,520 - 26,923 80,443 33% A. Parker 48,000 - 5,520 - 26,923 80,443 33% Totals 516,000 6,110 52,540 - 229,672 804,322 No retirement benefits are payable post-employment under the Group’s executive service agreements. BOAB METALS LIMITED – ANNUAL FINANCIAL REPORT 2026 ANNUAL FINANCIAL REPORT FOR THE YEAR ENDED 30 JUNE 2026 | PAGE 13 C. Service Agreements Material terms of the Executives’ service agreements are as follows: Gary Comb – Chairman • Remuneration payable of $128,000 per annum plus statutory superannuation; • The right to participate in the Company’s Employee Share Incentive Plan as approved by the Board; and • The right to resign with no formal resignation period. Simon Noon – Managing Director • Remuneration payable of $390,000 per annum plus statutory superannuation; • Either party may terminate the agreement without cause on three months’ written notice; • The right to participate in the Company’s Employee Share Incentive Plan as approved by the Boar