Cue Energy Resources Limited Notes to the financial statements 30 June 2025 55 Note 25. Share-based payments During the year ended FY 2025, $0.14 million in share-based payments expenses was recognised (FY 2024: $0.11 million). On 1 July 2024, 1,370,359 options over the Company’s fully paid ordinary shares expired, with an exercise price of $0.09 (9 cents) per fully paid ordinary share. On 15 October 2024, the Company issued 3,411,549 options over fully paid ordinary shares to employees with an exercise price of $0.12 (12 cents) per fully paid ordinary share and which expire on 1 July 2029. The options were valued using Black-Scholes option pricing model. $0.05 million of share-based payment expense was recognised in relation to the options for the year ended 30 June 2025. During FY 2025 and up to the date of this report, 2,647,549 options with an expiry date of 22 July 2026 and an exercise price of $0.078 (7.8 cents) per fully paid ordinary share were exercised on a cashless basis, as a result of which 720,342 fully paid ordinary shares in the Company were issued. On 1 July 2025, 3,204,237 options over the Company’s fully paid ordinary shares expired, with an exercise price of $0.117 (11.7 cents) per fully paid ordinary share. Set out below are summaries of options granted under the plan: 30 June 2025 Grant date Expiry date Exercise price Balance at the start of the year Granted Exercised Expired/ forfeited/other Balance at the end of the year 04/10/2019 01/07/2024 $0.090 1,370,361 - - (1,370,361) - 16/07/2020 01/07/2025 $0.117 3,204,237 - - - 3,204,237 23/07/2021 22/07/2026 $0.078 4,005,799 - (2,647,549) - 1,358,250 30/08/2022 01/07/2027 $0.089 3,598,698 - - - 3,598,698 08/09/2023 01/07/2028 $0.072 4,640,759 - - - 4,640,759 15/10/2024 01/07/2029 $0.120 - 3,411,549 - - 3,411,549 16,819,854 3,411,549 (2,647,549) (1,370,361) 16,213,493 Weighted average exercise price $0.087 $0.120 $0.078 $0.090 $0.100 The weighted average remaining contractual life of outstanding options at 30 June 2025 is 2.24 years (30 June 2024: 2.43 years). 30 June 2024 Grant date Expiry date Exercise price Balance at the start of the year Granted Exercised Expired/ forfeited/other Balance at the end of the year 29/07/2017 01/07/2023 $0.070 3,473,653 - - (3,473,653) - 04/10/2019 01/07/2024 $0.090 3,523,015 - (2,152,654) - 1,370,361 16/07/2020 01/07/2025 $0.117 3,204,237 - - - 3,204,237 23/07/2021 22/07/2026 $0.078 4,005,799 - - - 4,005,799 30/08/2022 01/07/2027 $0.089 3,598,698 - - - 3,598,698 08/09/2023 01/07/2028 $0.072 - 4,640,759 - - 4,640,759 17,805,402 4,640,759 (2,152,654) (3,473,653) 16,819,854 Weighted average exercise price $0.088 $0.072 $0.090 $0.070 $0.087 67 Cue Energy Resources Limited Annual Report 2025
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