Remuneration Report (Audited) continued Loans to key management personnel There were no loans or other transactions with Directors or other key management personnel and their related parties during the financial year (2023: nil). C Executive Contractual Arrangements Remuneration for the CEO & Managing Director and Key Management Personnel are formalised in service agreements. These agreements provide, where applicable, for the provision of performance related cash payments, other benefits including allowances, and participation in the Long Term Incentive Plan. All service agreements with executives comply with the provisions of Part 2 D.2, Division 2 of the Corporations Act. These service agreements may be terminated early by either party giving the required notice and subject to termination payments detailed in the agreement. Base salary for executives are reviewed each on 1 July of each year, with an increase of 3% being applied on 1 July 2024 (1 July 2023: nil). Four weeks annual leave and long service leave is provided. Other major provisions of agreements relating to remuneration are set out below: Executive TFR1 Notice Period Termination payment By Executive By the Company P Duffy – Managing Director & CEO2 368,298 6 months 6 months 6 months M Norris – Executive Director – Exploration3 368,298 6 months 6 months 6 months G Leicht – CFO & Company Secretary4 298,590 3 months 3 months 6 months L Welsh – CFO & Company Secretary5 310,800 6 months 6 months 6 months R Robinson – GM Studies & Technical Services 309,690 3 months 3 months 6 months B Rohrlach – GM Geology 298,590 3 months 3 months 6 months 1 TFR is Total Fixed Remuneration which includes base salary and superannuation. 2 Mr Duffy was appointed Managing Director and CEO on 15 April 2024. 3 Mr Norris was Managing Director and CEO until 14 April 2024, and appointed Executive Director – Exploration on 15 April 2024. As announced on 11 September 2024, Mr Norris will transition to the role of Non-executive Chair, at which time his remuneration will reflect that of the current Chair. 4 Mr Leicht was CFO & Company Secretary until 30 June 2024. 5 Mr Welsh was appointed CFO & Company Secretary on 1 July 2024. D Share-based compensation Options and performance rights provided as remuneration and shares issued on exercise Performance Rights movements during the financial year: 2024 Beginning balance Granted as remuneration Vested during year Lapsed Balance at end of year Vested Lapsed $ % $ % Directors of Sunston Metals Ltd M Norris 5,600,000 6,000,000 – – 11,600,000 – – – – Other key management personnel R Robinson 4,800,000 5,100,000 – – 9,900,000 – – – – G Leicht 4,800,000 5,100,000 – – 9,900,000 – – – – B Rohrlach 4,800,000 5,100,000 – – 9,900,000 – – – – 20,000,000 21,300,000 – – 41,300,000 – – – – Directors’ Report continued 26 Sunstone Metals Limited Annual Report 2024
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