Announcement PDF General All Registry communications to: Automic Group GPO Box 5193 Sydney NSW 2001 Telephone (free call within Australia): 1300 288 664 ASX Code: EQR Email: hello@automicgroup.com.au 27 October 2025 Upcoming General Meeting of Shareholders Dear Shareholder, EQ Resources Limited ACN 115 009 106 (ASX: EQR or “the Company”), advises that an Annual General Meeting (AGM) will be held via a webinar conferencing facility on Thursday, 27 November 2025 at 2.00pm (AEDT) (Meeting). Notice of Meeting The Notice of Meeting and Explanatory Memorandum (Notice) for the Meeting is available online and can be viewed and downloaded by shareholders of the Company (Shareholders) from the Company’s website at https://eqresources.com.au/site/invest-in-us/asx-announcements or the Company's ASX market announcements platform at www.asx.com.au (ASX: EQR). In accordance with sections 110C-110K of the Corporations Act 2001 (Cth) (as inserted by the Treasury Laws Amendment (2021 Measures No.1) Act 2021 (Cth), Shareholders will not be sent a hard copy of the Notice or Proxy Form unless Shareholders have already notified the Company that they wish to receive documents such as the Notice and Proxy Form in hard copy. Voting by Proxy Online scan the QR code below using your smartphone Lodge the Proxy Form online at https://investor.automic.com.au/#/loginsah by following the instructions: 1. Login to the Automic website using the holding details as shown on the Proxy Form. 2. Click on ‘View Meetings’ – ‘Vote’. To use the online lodgment facility, Shareholders will need their holder number (Securityholder Reference Number (SRN) or Holder Identification Number (HIN)) as shown as shown at the top of your holding statement. For further information on the online proxy lodgment process, or if you require a hard copy Proxy Form, please contact the Company’s Share Registry, Automic Registry Services (Automic), at meetings@automicgroup.com.au or via phone on 1300 288 664 (within Australia) or +61 2 9698 5414 (overseas). Shareholder queries in relation to the Meeting Shareholders can contact the Company Secretary with any questions prior to the meeting via email at melanie.leydin@vistra.com. Copies of all Meeting related material including the Notice, are available to download from the Company’s website and the Company's ASX market announcements platform. In the event it is necessary or appropriate for the Company to make alternative arrangements for the Meeting, information will be provided to Shareholders via the ASX and the Company’s website. Authorised for ASX release by the Company Secretary. resourcing the new economy for a better tomorrow EQ RESOURCES LIMITED ABN 77 115 009 106 Notice of Annual General Meeting Explanatory Statement and Proxy Form Date of Meeting: Thursday, 27 November 2025 Time of Meeting: 2:00pm (AEDT) Location: Held virtually via Zoom webinar https://vistra.zoom.us/webinar/register/WN_yK16D3S4SLWsTh0meUpqmQ This Notice of Annual General Meeting (Explanatory Statement and Proxy Form) should be read in its entirety. If Shareholders are in doubt as to how they should vote, they should seek advice from their accountant, solicitor, or other professional advisor without delay. 2 EQ RESOURCES LIMITED ABN 77 115 009 106 Registered office: Suite 2 Level 11, 385 Bourke Street, Melbourne Vic 3000 Notice is hereby given that a meeting of Shareholders of EQ Resources Limited (the Company) will be held virtually via a webinar conferencing facility on Thursday, 27 November 2025 at 2:00pm (AEDT) (“Annual General Meeting”, “AGM” or” Meeting”). Virtual Attendance Shareholders are encouraged to submit their proxies as early as possible, and in any event, prior to the cut-off date for proxy voting as set out in this Notice. To lodge your proxy, please follow the directions on your personalised Proxy Form which will be delivered to you by email or post (depending on your communication preferences). Shareholders attending the AGM virtually will be able to ask questions and the Company has made provision for Shareholders who register their attendance before the start of the meeting to also cast their votes on the proposed resolutions at the AGM. The virtual meeting can be attended using the following details: When: Thursday, 27 November 2025 at 2:00pm (AEDT) Topic: EQ Resources Limited – 2025 Annual General Meeting Register in advance for the virtual meeting: https://vistra.zoom.us/webinar/register/WN_yK16D3S4SLWsTh0meUpqmQ After registering, you will receive a confirmation email containing information about joining the meeting. As noted previously, the Company strongly recommends Shareholders lodge a directed proxy as soon as possible in advance of the Meeting even if they are planning to attend the Meeting online. The Company will conduct a poll on each Resolution presented at the Meeting. The Company will accept questions during the Meeting either by submitting a question through the Q&A box or by using the raise hand function located on screen, the Company will respond to the Q&A box questions or allow Shareholders to ask their question verbally. The Company is happy to accept and answer questions submitted prior to the Meeting by email to melanie.leydin@vistra.com. The Company will address relevant questions during the Meeting or by written response after the Meeting (however, Company will use its discretion when responding to unreasonable and/or offensive questions). Any shareholders who wish to attend the AGM online should therefore monitor the Company’s website and its ASX announcements for any updates about the AGM. If it becomes necessary or appropriate to make alternative arrangements for the holding or conducting of the Meeting, the Company will make further information available through the ASX website at asx.com.au (ASX: EQR) and on its website https://www.eqresources.com.au/site/content/. 3 AGENDA The Explanatory Statement and Proxy Form which accompany and form part of this Notice, include defined terms and describe in more detail the matters to be considered. Please consider this Notice, the Explanatory Statement and the Proxy Form in their entirety. ORDINARY BUSINESS Receipt and consideration of Accounts & Reports To receive and consider the 2025 Annual Report of the Company and its controlled entities for the year ended 30 June 2025, which includes the Financial Report, the Directors' Report, and the Auditor's Report. Note: Except as set out in Resolution 1, there is no requirement for Shareholders to approve these reports. Accordingly, no resolution will be put to Shareholders on this item of business. Resolution 1: Adoption of Remuneration Report To consider and, if thought fit, to pass the following resolution as an ordinary resolution: “That for the purpose of Section 250R(2) of the Corporations Act and for all other purposes, the Remuneration Report (included in the Directors' report) for the financial year ended 30 June 2025 be adopted.” Resolution 2: Re-Election of Mr. Stephen Layton as a Director of the Company To consider and, if thought fit, to pass the following resolution as an ordinary resolution: "That, for the purposes of Rule 17.5 of the Constitution and for all other purposes, Mr Stephen Layton, who retires by rotation in accordance with the Constitution of the Company and who, being eligible, offers himself for re-election, be re-elected as a Director of the Company.” Resolution 3: Election of Mr. Craig Bradshaw as a Director of the Company To consider and, if thought fit, to pass the following resolution as an ordinary resolution: "That, for the purposes of Rules 17.5 and 17.7 of the Constitution, Listing Rule 14.4 and for all other purposes, Craig Bradshaw, having been appointed to the Board of Directors since the previous annual general meeting, and who vacates the office in accordance with the Constitution of the Company, and who, being eligible, offers himself for election, be elected as a Director of the Company.” Resolution 4: Approval to issue Options to Mr Craig Bradshaw (or their nominees) as a Director of the Company To consider and, if thought fit, to pass the following resolution as an ordinary resolution: “That, pursuant to and in accordance with ASX Listing Rule 10.14, and for all other purposes, approval be given to issue under the Company’s Equity Incentive Plan a total of 5,000,000 unlisted options to Mr Craig Bradshaw (a Director of the Company), or his nominee, as part of his Employment Contract, expiring 3 years from the date of shareholders’ approval , if received, and having the exercise price, vesting date and other terms and conditions set out or described in the Explanatory Statement which accompanied and formed part of the Notice of the Meeting.” 4 SPECIAL BUSINESS Resolution 5: Approval of 10% Placement Facility To consider and, if thought fit, pass the following resolution as a special resolution: “That, under and for the purposes of Listing Rule 7.1A and for all other purposes, Shareholders approve the issue of Equity Securities up to the equivalent of 10% of the Company’s fully paid ordinary issued capital (at the time of the issue) calculated in accordance with the formula prescribed in Listing Rule 7.1A.2 and on the terms and conditions in the Explanatory Statement. BY ORDER OF THE BOARD Melanie Leydin Company Secretary 27 October 2025 5 Notes 1. Entire Notice The details of the resolutions contained in the Explanatory Statement and proxy form accompanying this Notice should be read together with, and form part of, this Notice. 2. Record Date The Company has determined that for the purposes of the Annual General Meeting, shares will be taken to be held by the persons who are registered as holding the shares at 7:00pm on the date 48 hours before the date of the Annual General Meeting. Only those persons will be entitled to vote at the Annual General Meeting and transfers registered after that time will be disregarded in determining entitlements to attend and vote at the Annual General Meeting. 3. Proxies a. Votes at the Annual General Meeting may be given personally or by proxy, attorney or representative. b. Each shareholder has a right to appoint one or two proxies. c. A proxy need not be a shareholder of the Company. d. If a shareholder is a company, it must execute under its common seal or otherwise in accordance with its constitution or the Corporations Act. e. Where a Shareholder is entitled to cast two or more votes, the Shareholder may appoint two proxies and may specify the proportion or number of votes each proxy is appointed to exercise. f. If a Shareholder appoints two proxies, and the appointment does not specify the proportion or number of the Shareholder’s votes, each proxy may exercise half of the votes. If a Shareholder appoints two proxies, neither proxy may vote on a show of hands. g. A proxy must be signed by the Shareholder or his or her attorney who has not received any notice of revocation of the authority. h. To be effective, Proxy Forms must be received by the Company’s share registry, Automic Pty Ltd, no later than 48 hours before the commencement of the Annual General Meeting, i.e. no later than Tuesday, 25 November 2025 at 2:00pm (AEDT). Any proxy received after that time will not be valid for the scheduled meeting. (i) By mail to Automic Pty Ltd, GPO Box 5193, Sydney NSW 2001; (ii) In person to Automic Pty Ltd, Level 5, 126 Phillip Street, Sydney NSW 2000; (iii) By fax to +61 2 8583 3040 (iv) By phone to 1300 288 664 (Within Australia) or +61 2 9698 5414 (Overseas) (v) Online by going to www.automicgroup.com.au or by scanning the QR code found on your Proxy Form with your mobile device; or (vi) For Intermediary Online subscribers only (custodians) please visit www.intermediaryonline.com to submit your voting intentions. 4. Corporate Representative Any corporate shareholder who has appointed a person to act as its corporate representative at the Annual General Meeting should provide that person with a certificate or letter executed in accordance with the Corporations Act authorising him or her to act as that company’s representative. The authority may be emailed to the Company and/or registry in advance of the Annual General Meeting or handed in at the Annual General Meeting when registering as a corporate representative. 5. How the Chair will vote Undirected Proxies Subject to the restrictions set out in Note 6 below, the Chair of the Annual General Meeting will vote undirected proxies in favour of all the proposed resolutions. 6. Voting Exclusion Statement: Resolution 1 In accordance with sections 250R(4) and 250BD(1) of the Corporations Act, a vote must not be cast (in any capacity, including as a proxy), and the Company will disregard any votes purported to be cast, on this resolution by, or on behalf of, a member of the Key Management Personnel, details of whose remuneration are included in the remuneration report, or a Closely Related Party of such a member (KMP voter), unless the KMP voter is casting a vote on this resolution on behalf of a person who is not a KMP voter (including as a proxy) and either: (a) the KMP voter is appointed as a proxy by writing that specifies the way the proxy is to vote on the resolution; or (b) the KMP voter is the Chair of the Meeting and the appointment of the Chair as proxy: (i) does not specify the way the proxy is to vote on the resolution; and (ii) expressly authorises the Chair to exercise the proxy even if the resolution is connected directly or indirectly with the remuneration of a member of the KMP for the Company or the consolidated entity. If you appoint the Chair as your proxy and you do not direct the Chair how to vote, you will be expressly authorising the Chair to exercise the proxy even if the relevant resolution is connected directly or indirectly with the remuneration of a member of the KMP for the Company. If the Chair of the Meeting is appointed as a proxy for a person who is permitted to vote on Resolution 1, the Chair will vote any proxies which do not indicate on their Proxy Form the way the Chair must vote, in favour of Resolution 1. In exceptional circumstances, the Chair may change his or her voting intention on the Resolution, in which case an ASX announcement will be made. Shareholders may also choose to direct the Chair to vote against the Resolution or to abstain from voting. If you purport to cast a vote other than as permitted above, that vote will be disregarded by the Company (as indicated above) and you may be liable for breaching the voting restrictions that apply to you under the Corporations Act. A further restriction also applies to KMPs and their Closely Related Parties voting undirected proxies on these resolutions – see Restriction on KMPs voting undirected proxies below. Resolutions 2 - 3 There are no voting exclusions on these resolutions. 6 Resolutions 4 The Company will disregard any votes cast in favour of Resolutions 4 by or on behalf of a person referred to in Listing Rule 10.14.1, 10.14.2 or 10.14.3 who is eligible to participate in the Company’s Equity Incentive Plan, being Mr. Craig Bradshaw and/or his nominees. However, this does not apply to a vote cast in favour of any of these Resolutions by: i. a person as a proxy or attorney for a person who is entitled to vote on the Resolution(s), in accordance with directions given to the proxy or attorney to vote on the Resolution(s) in that way; or ii. the Chair of the meeting as proxy or attorney for a person who is entitled to vote on the Resolution(s), in accordance with a direction given to the Chair to vote on the Resolution(s) as the Chair decides; or iii. a holder acting solely in a nominee, trustee, custodial or other fiduciary capacity on behalf of a beneficiary provided the following conditions are met: a. the beneficiary provides written confirmation to the holder that the beneficiary is not excluded from voting, and is not an associate of a person excluded from voting, on the Resolution(s); and b. the holder votes on the Resolution(s) in accordance with directions given by the beneficiary to the holder to vote in that way. A further restriction also applies to KMPs and their Closely Related Parties voting undirected proxies on these resolutions – see Restriction on KMPs voting undirected proxies below. Resolution 5 As at the date of dispatch of this Notice, the Company is not proposing to make an issue of Equity Securities under Listing Rule 7.1A.2 and, therefore, a voting exclusion statement is not required by Listing Rule 7.3A.7. 7. Enquiries Shareholders are invited to contact the Company Secretary, Melanie Leydin on +61(3) 9692 7222 if they have any queries in respect of the matters set out in this Notice. 7 EXPLANATORY STATEMENT Purpose of Information This Explanatory Statement (“Statement”) accompanies and forms part of the Company’s Notice of Annual General Meeting (“Notice”) for the 2025 Annual General Meeting which will be held virtually via a video-conferencing facility at 2.00pm (AEDT) on Thursday, 27 November 2025. The Notice incorporates, and should be read together, with this Statement. Receipt and consideration of Accounts & Reports A copy of the Annual Report for the financial year ended 30 June 2025 (which incorporates the Company's Financial Report, reports of the Directors (including the Remuneration Report) and the Auditors) is not enclosed as there is no longer a requirement for the Company to incur the printing and distribution cost associated with doing so for all Shareholders. You may obtain a free hard copy by contacting the Company by phone at +61 3 9692 7222, and you may request that this occurs on a standing basis for future years. Alternatively, you can access the Annual Report at the Company's website www.eqresources.com.au or via the Company's announcement platform on ASX. Except as set out in Resolution 1, no resolution is required on these reports. Shareholders will have the opportunity to ask questions about or make comments on the 2025 Annual Report and the management of the Company. The Auditor will be invited to attend, to answer questions about the audit of the Company’s 2025 Annual Financial Statements. ORDINARY BUSINESS Resolution 1: Adoption of Remuneration Report Background Section 250R (2) of the Corporations Act requires that a resolution to adopt the Remuneration Report must be put to the vote at the Annual General Meeting. The vote on this Resolution is advisory only and does not bind the Directors or the Company. The Remuneration Report is set out in the Directors’ Report in the Company’s 2025 Annual Report. The Remuneration Report sets out the Company’s remuneration arrangements for the Directors and senior management of the Company. In accordance with Section 250SA of the Corporations Act, Shareholders will be provided with a reasonable opportunity to ask questions concerning, or make comments on, the Remuneration Report at the Annual General Meeting. In accordance with Division 9 of Part 2G.2 of the Corporations Act, if twenty five per cent (25%) or more of votes that are cast are voted against the adoption of the Remuneration Report at two consecutive Annual General Meetings, Shareholders will be required to vote at the second of those Annual General Meetings on a resolution (a “spill resolution”) that another meeting be held within 90 days at which all of the Company’s Directors (other than the Managing Director) must go up for re-election. It is noted that at the Company’s last Annual General Meeting, the votes cast against the Remuneration Report represented less than twenty-five per cent (25%) of the total votes cast on that resolution and accordingly, a spill resolution will not under any circumstances be required for the Meeting. The Directors will consider the outcome of the vote and comments made by Shareholders on the Remuneration Report at the Meeting when reviewing the Company’s remuneration policies. Board Recommendation The Directors unanimously recommend that Shareholders vote in favour of Resolution 1 to adopt the Remuneration Report. It should be noted that each Director has a personal interest in their own remuneration from the Company (such interests are described in the Remuneration Report) and, as described in the voting exclusions on this resolution (set out in the Notice of AGM), that each Director (or any Closely Related Party of a Director) is excluded from voting their shares on this resolution, 8 The Chair intends to vote all undirected proxies in favour of this resolution. Voting Exclusions A voting exclusion statement for this resolution is set out in Note 6 above. Resolution 2: Re-Election of Mr. Stephen Layton as a Director of the Company Background The Constitution of the Company requires that at each AGM one third of the Directors (except for the managing director), or, if their number is not three or a multiple of three, then the number nearest but not exceeding one-third, shall retire from the office by rotation. The Directors to retire every year shall be those who have been longest in office since their last election but, as between the person who became Directors on the same day shall (unless they otherwise agree between themselves) be determined by lot. Mr. Stephen Layton was appointed as Non-executive Director on 14 November 2017, elected on 29 November 2018 and re-elected on 18 November 2019 and 21 October 2022. He has over 35 years of experience in equity capital markets across the UK and Australia. He also has expertise in ASX listings and corporate advisory. He currently holds directorships at Mithril Silver and Gold Limited and Pursuit Minerals Limited. The Company considers Mr. Layton an independent director for all purposes. Board Recommendation The Board (with Mr. Layton abstaining), recommends that shareholders vote in favour of the re-election of Mr. Layton. The Chair of the meeting intends to vote undirected proxies in favour of Mr. Layton’s re-election. Voting Exclusions There are no voting exclusions on this resolution. Resolution 3: Election of Mr. Craig Bradshaw as a Director of the Company Background A Director (excluding the Managing Director) appointed to fill a casual vacancy or as an addition to the Board must not hold office without re-election past the next Annual General Meeting (Constitution clauses 17.5 & 17.7; Listing Rule 14.4). Mr. Bradshaw, having been appointed to the Board on 1 May 2025, is retiring in accordance with these requirements and, being eligible, offers himself for re-election. Mr. Bradshaw is an experienced global tungsten industry executive and was a former CEO of Masan High-Tech Materials, the operator of the Nui Phao Tungsten Mine and Processing Complex in Vietnam and Managing Director of H.C. Starck Tungsten Powders GmbH, a global producer of Tungsten chemicals, powders, carbides, and specialty carbides with operations in Germany, China and Canada, prior to its sale to Mitsubishi Materials Group in December 2024. Mr. Bradshaw started his mining career with Mt Isa Mines and held further senior management roles with MMG Limited (Sepon operations) and with Toll Holdings. Mr. Bradshaw holds a Business Degree and is a qualified CPA as well as a member of the Financial Services Institute of Australasia (FINSIA) and AusIMM. The Company confirms it has conducted appropriate checks into Mr. Bradshaw’s background and experience. Board Recommendation The Board (with Mr. Bradshaw abstaining) recommends that shareholders vote in favour of the election of Mr. Bradshaw as it considers that his qualifications, experience, skills and expertise are appropriate for the Board position and will enable him to act in the best interests of the Company and its shareholders. The Chair of the meeting intends to vote undirected proxies in favour of Mr. Bradshaw’s election. Voting Exclusions There are no voting exclusions on this resolution. 9 Resolution 4: Approval to issue Options to Mr Craig Bradshaw (or their nominees) as a Director of the Company Background Resolutions 4 seek Shareholder approval to issue Options to Mr. Craig Bradshaw (or his nominee(s)) (the Director) on the terms described below and in accordance with the Company’s Employee Incentive Scheme (the Plan). To facilitate the purpose of maintaining financial liquidity, minimising cash outflows and remunerating the Directors for their extensive contribution towards promoting the Company’s operations, the Company is proposing to grant Options to Mr. Bradshaw (or their nominee(s)) as part of his Employment Agreement as Managing Director of the Company (being a right to acquire one fully paid ordinary shares in the Company upon conversion of options) on the terms as described below (Options). The Board believes that it is appropriate to use Options to compensate Directors as this is in line with current market practices and remunerates them appropriately given the circumstances of the Company and provides an appropriate and meaningful form of remuneration that aligns with Shareholder interests. The Board believes that the achievement of the Options will be to the benefit of all Shareholders as these will motivate Director to remain in the Company’s employ to carry on the role of implementing and executing the Company’s strategies and overseeing operations. In particular, the Board considers that the value attributed to the Options (as described below) and their associated terms and conditions represent reasonable remuneration for Director as if the Company were dealing at arm’s length. Terms of Options It is proposed that a total of 5,000,000 Options be granted to the Director (or his nominee(s), under the Plan, subject to Shareholder approval. A summary of the major terms and features of the Options are set out as follows: Terms Vesting Condition Upon issue Expiry Date 3 years from date of shareholder approval Exercise Price $0.05 (5 cents) The full terms of the Options are set out in Annexure B of this Explanatory Statement. Directors Remuneration Package and Interests As at the date of this Notice, the details (including the amount) of the current total remuneration package of Mr. Craig Brashaw (or his nominees) to whom Options would be issued if Resolutions 4 is passed are: Name of Director Position Remuneration Package Details Mr. Craig Bradshaw Managing Director o $400,000 per annum base salary; o $30,000 per annum superannuation; and o An issue of 5 million options, exercisable at $0.05 per option, and expiring 3 years from the date of shareholder approval (if received). The Company has prepared an assessment indicative fair value of the Options as summarised below. The value is indicative only, based on assumptions relevant at the date of the calculation, being 3 October 2025. Different assumptions may be relevant at grant date which may alter the value of the Options for financial reporting purposes. The total remuneration packages in the above table would be increased for the above Director by the total set out in the following table, based on the assumptions. The actual valuation amount will not be able to be calculated until the Options are issued, at which time the assumptions may have changed. Assessment Indicative fair value per option $0.016 (1.6 cents) Number of Options 5,000,000 Total $ $80,000 10 The indicative fair value was calculated using the Black-Scholes valuation model. The assumptions used in the valuation model were as follows: Assumptions Valuation date ^3 October 2025 Spot Price – 3 October 2025 $0.03 (3 cents) Exercise price $0.05 (5 cents) Probability of achieving vesting conditions 100% Expiry date 2 October 2028 Expected future volatility+ 100.74% Risk free rate 3.582% Dividend yield Nil ^ Based on the issue date assumed as being the valuation date. + Based on assessment of estimated future volatility of the Company Option Recipient Number of Options Indicative Fair Value as at 3 October 2025 Mr Craig Bradshaw 5,000,000 $0.016 (1.6 cents) As at the date of this Notice, the Directors who are proposed to receive the Options have the following direct and indirect interests in shares in the Company. Name of Director (and/or associate(s)) Existing Options Directly and Indirectly Held Following issue of the Options Shares Directly and Indirectly Held % of total issued Shares Mr. Craig Bradshaw 250,000 0.007% Nil 5,000,000 unlisted options exercisable at $0.05 per options expiring 3 years from the date of shareholder approval (if received) If Mr Bradshaw’s proposed Options were to be exercised (assuming there were no other issues of shares) the above percentages would increase from 0.007% to 0.143%. There were no other security previously issued under the Plan to Mr. Bradshaw. ASX Listing Rules requirements As noted above, the Company is proposing to issue Options to Mr. Craig Bradshaw (or their nominee(s)) (the “Issue”) Listing Rule 10.14 provides that a listed company must not permit any of the following persons to acquire equity securities under an employee incentive scheme: 10.14.1 a director of the company; 10.14.2 an associate of a director of the company; or 10.14.3 a person whose relationship with the company or a person referred to in Listing Rule 10.14.1 or 10.14.2 is such that, in ASX’s opinion, the acquisition should be approved by its shareholders; unless it obtains the approval of its shareholders. The Issue falls within Listing Rule 10.14.1 above, as the Plan constitutes an “employee incentive scheme” under the ASX Listing Rules, and therefore requires the approval of the Company’s shareholders under Listing Rule 10.14. Resolutions 4 therefore seeks the required shareholder approval to issue the Options to Mr. Craig Bradshaw under and for the purposes of Listing Rule 10.14. If Resolutions 4 is passed, the Company will be able to proceed with the issue of the respective Options and the applicable Director will receive the number of Options set out above, with the increase in his remuneration and pot