ANNUAL REPORT 2026 51 Type of security Expiry date Exercise price ($) Balance at the start of the year Granted Exercised3 Expired Balance at the end of the year4 Vesting conditions Unlisted Options 11/06/2033 0.19 100,000 - - - 100,000 Service Unlisted Options 11/06/2031 0.19 781,250 - (140,625) - 640,625 Service Unlisted Options 11/06/2032 0.19 781,250 - - - 781,250 Service Unlisted Options 11/07/2032 0.19 78,125 - - - 78,125 Service Unlisted Options 11/08/2032 0.19 78,125 - - - 78,125 Service Unlisted Options 11/09/2032 0.19 78,125 - - - 78,125 Service Unlisted Options 11/10/2032 0.19 78,125 - - - 78,125 Service Unlisted Options 11/11/2032 0.19 78,125 - - - 78,125 Service Unlisted Options 11/12/2032 0.19 78,125 - - - 78,125 Service Unlisted Options 11/01/2033 0.19 78,125 - - - 78,125 Service Unlisted Options 11/02/2033 0.19 78,125 - - - 78,125 Service Unlisted Options 11/03/2033 0.19 78,125 - - - 78,125 Service Unlisted Options 11/04/2033 0.19 78,125 - - - 78,125 Service Unlisted Options 11/05/2033 0.19 78,125 - - - 78,125 Service Unlisted Options 11/06/2033 0.19 78,125 - - - 78,125 Service Unlisted Options 22/08/2027 0.45 - 7,300,000 (356,000) - 6,944,000 Upon Issue Unlisted Options 12/11/2029 0.80 - 3,000,000 - - 3,000,000 Service Unlisted Options 12/11/2030 0.80 - 3,600,000 - - 3,600,000 Service Unlisted Options 12/11/2031 0.80 - 3,600,000 - - 3,600,000 Service 43,900,000 17,500,000 (8,465,793) (7,297,500) 45,636,707 At 30 June 2026, the weighted average exercise price of options outstanding was $0.374 and the weighted average remaining contractual life was 3.32 years 1 The exercise price is higher of ● 100% of the Fair Market Value (as defined in the Company's Stock Incentive Plan) of the Shares on the date that Option is granted; and ● an amount equal to 110% of the volume weighted average price of the CDIs for the period of 10 trading days immediately prior to the date on which that Option vests. ● an exercise price of $0.22 was used for the purpose of the fair value calculation at grant date. 2 The exercise price is higher of ● 100% of the Fair Market Value (as defined in the Company's Stock Incentive Plan) of the Shares on the date that Option is granted; and ● an amount equal to 120% of the volume-weighted average price of the CDIs for the period of 10 trading days immediately prior to the date on which the Option vests. ● an exercise price of $0.24 was used for the purpose of the fair value calculation at grant date. 3 The weighted average share price at the date of exercise for options exercised during the year was $0.723. 4 Options vested and exercisable at the end of the period was 25,917,957 (2025: 38,200,000) For the options granted during the current financial year, the valuation model inputs used to determine the fair value at the grant date, are as follows: Grant date Assumed expiry date Share price at grant date Exercise price Expected volatility Dividend yield Riskfree interest rate Fair value at grant date Valuation model 22/08/2025 31/12/2027 $0.2700 $0.450 108.46% - 3.60% $0.1236 Black-Scholes 12/11/2025 12/11/2029 $0.7300 $0.797 94.91% - 3.60% $0.4871 Black-Scholes 12/11/2025 12/11/2030 $0.7300 $0.797 94.91% - 3.60% $0.5291 Black-Scholes 12/11/2025 12/11/2031 $0.7300 $0.797 94.91% - 3.60% $0.5625 Black-Scholes
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