ANNUAL REPORT June 2026 Remuneration Report - Audited (ii) Equity Awards The following table provides the number of Performance Rights/Options held by the Key Management Personnel at the start and the end of FY26, as well as a reconciliation of the changes to them during that period. Instru ment Balance 1 July 2025 Granted Lapsed / Cancelled Exercised Balance 30 June 2026 Total vested and exercisable Total unvested & exercisable Directors M. Nossal1 Options - - - - - - - O. Kleinhempel Options 8,682,870 6,000,000 - (312,500) 14,370,370 14,370,370 - S. Layton Options 3,312,500 6,000,000 - (312,500) 9,000,000 9,000,000 - S. Weir Options 3,740,741 6,000,000 - (3,740,741) 6,000,000 6,000,000 - Z.P. Yeo Options 16,784,448 6,000,000 - (312,500) 22,471,948 22,471,948 - Executives C.R. Bradshaw Options - 20,000,000 - - 20,000,000 20,000,000 - C.R. Bradshaw PR* - 5,700,000 (2,565,000) - 3,135,000 1,045,000 2,090,000 J. Kort Options - 15,000,000 - (5,000,000) 10,000,000 - 10,000,000 J. Kort PR* - 5,700,000 (2,565,000) - 3,135,000 1,045,000 2,090,000 V. Trout Options - 8,000,000 - - 8,000,000 - 8,000,000 32,520,559 78,400,000 (5,130,000) (9,678,241) 96,112,318 73,932,318 22,180,000 PR* = Performance Rights 1 Grant of 9,000,000 options subject to approval by Shareholders at AGM. Proposed conditions include an exercise price of A$0.40 with vesting in three equal tranches over a three-year period commencing July 2026. During the year the Company granted 5,700,000 performance rights to both the Managing Director and Chief Financial Officer under the Equity Incentive Plan. The rights have a nil exercise price and are subject to performance service conditions. Upon satisfaction of the applicable vesting conditions each vested right converts into one ordinary share. The rights expire 30 September 2028. The performance rights are subject to both market and non-market performance conditions and therefore may lapse without value if those conditions are not achieved. The Board consider the performance rights provide alignment between executive reward and shareholder outcomes through the Absolute TSR and Relative TSR hurdles bother with operational and safety performance measures. Grant Number Fair Value at Grant Date1 Vesting Condition Lapsed / Cancelled Balance 30 Jun 26 Total vested and exercisable Expiry Date Unvested Performance Rights Tranche 1 2,280,000 A$809,400 FY26 TSR Assessment + Service Condition - 2,280,000 760,000 30/09/2028 Tranche 2 2,280,000 A$808,602 FY26 TSR assessment + Service Condition - 2,280,000 760,000 30/09/2028 Tranche 3 2,280,000 - FY26 Production Target (2,280,000) - - 30/09/2028 Tranche 4 2,280,000 - FY26 LTIFR Target (2,280,000) - - 30/09/2028 Tranche 5 2,280,000 A$607,050 Debt Refinancing milestone (570,000) 1,710,000 570,000 31/03/2028 11,400,000 A$2,225,052 (5,130,000) 6,270,000 2,090,000 1 Fair value is determined at grant date. Market conditions (Tranches 1–2, TSR Assessment) are valued via Monte Carlo simulation, which embeds vesting probability. Non-market conditions (Tranches 3–5) are valued at grant-date closing share price, with vesting probability instead reflected in the number of rights expected to vest, reassessed each reporting date. Each tranche vests in equal one-third instalments on the performance determination date and on the first and second anniversaries of that date. EQ Resources Limited Annual Report 2026 37
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