Notes to the Consolidated Financial Statements continued ANNUAL Report June 2025 Notes to the Consolidated Financial Statements 30 1 July 2023 to 30 June 2024 Date Number of Shares Issue Price $ Issue of 16,730,321 shares @ $0.0650 per share on the conversion of 4,000,000 convertible notes (refer ASX announcement dated 28 September 2023) 28/09/2023 61,538,463 $0.04 4,000,000 Issue of 5,000,000 shares @ $0.0600 per share to upon the exercise of options granted to Key Management Personnel (refer ASX announcement dated 8 November 2023) 8/11/2023 5,000,000 $0.06 300,000 Issue of 278,000,000 shares @ $0.0900 per share as part of placement with Oaktree Capital Management, L.P. Escrowed to 18 January 2024 (refer ASX announcement dated 18 January 2024) 18/01/2024 278,000,000 $0.09 25,307,297 Issue of 1,000,000 shares @ $0.0400 per share upon the exercise of unlisted options granted to employees (refer ASX announcement dated 1 May 2023) 2/02/2024 1,000,000 $0.04 40,000 Issue of 5,000,000 shares @ $0.0432 per share upon the exercise of unlisted options granted to sophisticated investors (refer ASX announcement 20 March 2024) 20/03/2024 5,000,000 $0.04 216,000 Issue of 205,940,008 shares @ $0.0450 per share to sophisticated investors as part of the May 2024 placement (refer ASX announcement dated 29 May 2024) 29/05/2024 205,940,008 $0.05 9,269,999 Issue of 542,384 shares @ $0.0461 per share for Senior Financial Advisor Service Fees (refer ASX announcement dated 28 June 2024) 28/06/2024 542,384 $0.05 25,004 Fair value of options exercised 962,893 Share issue costs (1,200,567) Balance as at 30 June 2024 2,065,288,465 68,338,429 Terms and Conditions of Contributed Equity Ordinary Shares Ordinary shares have the right to receive dividends as declared and, in the event of winding up the Company, to participate in the proceeds from the sale of all surplus assets in proportion to the number of and amounts paid up on the shares held. Ordinary shares entitle their holder to one vote, either in person or by proxy, at a meeting of the Company. Option holders have no voting rights until the options are exercised. (b) Movements in Share Options The following table illustrates share-based payments, the number and weighted average exercise prices (WAEP) of, and movements in, share options during the year: Number WAEP $ Balance at 1 July 2024 203,748,395 0.086 17,589,555 Options granted 14,805,281 0.137 2,034,356 Options recognised as share-based payments expense 221,800,000 0.065 14,337,654 Options recognised as share issue costs 48,087,501 0.028 1,350,000 Forfeited/cancelled (6,600,000) (0.023) (151,604) Exercised - - - Expired - - - Balance at 30 June 2025 481,841,177 0.073 35,159,961 96 EQ Resources Limited Annual Report 2025
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