ANNUAL REPORT June 2026 Notes to the Consolidated Financial Statements (c) Expenses arising from share-based payment transactions Total expenses arising from share-based payment transactions recognised during the period were as follows: Expensed 2026 FV at Grant Date A$’000 Expensed in prior years A$’000 Lapsed / Forfeited A$’000 Options / Performance Rights A$’000 Options issued to key management personnel 12,465 - - 10,290 Performance rights issued to key management personnel 2,225 - - 1,018 Options issued to employees & consultants 12,343 179 - 4,854 Performance rights issued to employees & consultants 2,289 - - 1,019 Contractor services settled in shares 52 - - 52 Total share-based payments 29,374 179 - 17,233 Expensed 2025 FV at Grant Date A$’000 Expensed in prior years A$’000 Lapsed / Forfeited A$’000 Options / Performance Rights A$’000 Options issued to key management personnel 654 30 - 582 Options issued to employees & consultants 1,443 458 - 863 Contractor services settled in shares 33 - - 33 Options/shares not recorded in the ESS register¹ n/a - - 2,258 Total share-based payments 2,130 488 - 3,736 ¹ Fair value at grant date for this item is not separately tracked in the employee share scheme register; the amount above reflects the expense recognised Each option provides the right for the option holder to be issued one fully paid share in the Company upon payment of the exercise price of each option once vesting conditions have been met. Historical volatility has been used to determine expected share price volatility as it is assumed that this indicates future trends, which may not eventuate. For service provider options, the value of the service rendered was unable to be measured reliably, and therefore, the value was measured by reference to the fair value of the options issued. EQ Resources Limited Annual Report 2026 99
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