ANNUAL Report June 2024 Directors’ Report 8 (c) Details of Remuneration; (d) Cash Bonuses; (e) Equity Instruments; (f) Options and Performance Rights Granted as Remuneration; (g) Equity Instruments Issued on Exercise of Remuneration Options or Rights; (h) Service Agreements; and (i) EQ Resources’ Financial Performance. (a) Policy Used to Determine the Nature and Amount of Remuneration The objective of the Company’s remuneration framework is to ensure that the reward for performance is competitive and appropriate for the results delivered. The framework aligns executive reward with the achievement of strategic objectives and the creation of value for shareholders. The Board believes that executive remuneration satisfies the following key criteria: ▪ competitiveness and reasonableness; ▪ acceptability to shareholders; ▪ performance linkage/alignment of executive compensation; ▪ transparency; and ▪ capital management. These criteria result in a framework that can provide a mix of fixed and variable remuneration and a blend of short and long-term incentives in line with the Company’s financial resources. Fees and payments to the Company’s Non-executive Directors and senior executives reflect the demands made on and the responsibilities of the directors and senior management. Such fees and payments are reviewed annually by the Board. The Company’s Executive and Non-executive Directors, senior executives and officers are entitled to receive performance rights, options and/or shares under the Company’s Equity Incentive Plan, approved by shareholders at the General Meeting held on 26 November 2020. Fees for Non-executive Directors are not linked to the performance of the Group. Use of Remuneration Consultants The Group has not used any remuneration consultants during the year. Voting and Comments made at the Group’s 2023 Annual General Meeting The Group received votes against its Remuneration Report for the 2023 financial year; however, it did not receive any specific feedback on its remuneration practices at the 2023 Annual General Meeting or during the year. Directors’ Report continued 74 EQ Resources Limited Annual Report 2024
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