Cue Energy Resources Limited Directors' report 30 June 2025 20 Fixed compensation Fixed compensation consists of base salary (which is calculated on a total cost base and including any fringe benefits tax ("FBT") charges related to employee benefits including motor vehicles), as well as employer contributions to superannuation funds. The base salary is reflective of market rates for companies of similar size and industry which is reviewed annually to ensure market competitiveness. The Board last reviewed the salaries paid to peer company executives in determining the salary of the Company’s KMP at the end of the 2022 financial year. This base salary is fixed remuneration and is not subject to performance of the company. Base salary is reviewed annually and adjusted on 1 July each year as required. There is no guaranteed base salary increase included in any executive’s contracts. Cash bonuses A cash bonus was paid to the CEO during this financial year on the achievement of his annual STI, based on actual performance against key performance indicators (KPIs). Employment contracts Remuneration and other terms of employment for key executive Matthew Boyall is formalised in a service agreement. Details of the agreement is as follows: Matthew Boyall Title: Chief Executive Officer Original Agreement effective from 1 July 2017, with salary terms revised on 3 September 2024. Term: Permanent employment contract, no fixed terms. Details: Base salary of $441,842 per annum plus superannuation, up to the super guarantee maximum employer contribution, to be reviewed annually by the Board. Mr Boyall is also entitled to short-term incentive up to 30% of his base salary at the discretion of the Board at the end of each financial year dependent on the success of meeting key deliverables. Mr Boyall’s entitlements to long-term incentives is determined at the Board sole discretion. Notice period: 3 months Compensation levels are reviewed each year to take into account cost of living changes, any change in the scope of the role performed and any changes to meet the principles of the compensation policy. Details of the nature and amount of each major element of remuneration of each Director of the Company and other Key Management Personnel of the Consolidated Entity are: KMP Compensation - 30 June 2025 Short-term benefits Short-term benefits Long-term benefits Post employment Sharebased payments Cash salary and fees Cash bonuses Consulting Fees Long service leave Superannuation Equitysettled Total 30 June 2025 $ $ $ $ $ $ $ Directors Alastair McGregor 104,000 - - - - - 104,000 Andrew Jefferies 65,500 - - - - - 65,500 Peter Hood AO 83,045 - - - - - 83,045 Richard Malcolm 69,238 - - - 7,962 - 77,200 Rod Ritchie 77,200 - 48,950 - - - 126,150 Samuel Kellner 65,500 - - - - - 65,500 Marco Argentieri 77,200 - - - - - 77,200 Other Key Management Personnel: Matthew Boyall* 441,842 101,562 - (676) 29,932 61,747 634,407 983,525 101,562 48,950 (676) 37,894 61,747 1,233,002 32 Cue Energy Resources Limited Annual Report 2025
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