Directors’ Report Continued Share Options and Performance Rights As at the date of this Directors’ Report, the details of share options over unissued ordinary shares in the Company were as follows: Exercise Price Per Share Number of Type of Share Option Grant Date Date of Expiry Option Share Options ESOP options 21 September 2018 30 June 2022 $1.40 2,996,437 ESOP options 31 December 2018 30 June 2022 $1.40 1,069,686 Total ESOP options 4,066,123 As at the date of this Directors’ Report, the details of performance rights over unissued ordinary shares in the Company were as follows: Exercise Price Number of Per Performance Performance Type Grant Date Date of Expiry Right Rights Performance rights 21 September 2018 30 June 2022 $– 760,265 Performance rights 31 December 2018 30 June 2022 $– 280,298 Performance rights 12 November 2019 30 June 2022 $– 143,980 Performance rights 12 November 2019 30 June 2023 $– 685,621 Performance rights 18 October 2019 30 June 2022 $– 428,256 Performance rights 18 October 2019 30 June 2023 $– 2,367,643 Performance rights 29 November 2019 30 June 2023 $– 666,323 Performance rights 25 September 2020 30 June 2023 $– 2,880,420 Performance rights 25 September 2020 30 June 2024 $– 4,172,267 Total performance rights 12,385,073 For details of share options and performance rights issued to Directors and other key management personnel of the Group as remuneration, refer to the Remuneration Report in this Directors’ Report. 665,496 fully paid ordinary shares have been issued since 1 July 2021 as a result of the vesting and conversion of performance rights under the 2016 Performance Rights Plan and the 2019 Performance Rights Plan (each being a ‘PRP’). Information relating to the Company’s PRP and share options, including details of performance rights and share options granted, exercised, vested and converted, cancelled, cash‑settled, forfeited and expired during the financial year and performance rights and share options outstanding at the end of the financial year, is set out in Note 30 of the consolidated financial statements. No share option or performance right holder has any right under the share options or performance rights to participate in any other share issue of the Company or any other entity. Indemnification of Directors, Officers and External Auditor An indemnity agreement has been entered into between the Company and the Directors of the Company named earlier in this Directors’ Report and with the full‑time executive officers, directors and secretaries of the Company and all Australian subsidiaries. Under this agreement, the Company has agreed to indemnify, to the extent permitted by law, these Directors, full‑time executive officers, directors and secretaries against any claim or for any expenses or costs which may arise as a result of work performed in their respective capacities. The Company has also entered into a contract of insurance in respect of any liability incurred by the Directors, full‑time executive officers, directors and secretaries (referred to above) in such capacity. The contract of insurance prohibits disclosure of the nature of the liability and the amount of the premium (which is paid by the Company). As approved by shareholders at the 2009 Annual General Meeting, the Company will continue to pay those Director insurance premiums for a period of ten years following termination of their directorships of the Company and will provide each Director with access, upon ceasing for any reason to be a Director of the Company and for a period of ten years following cessation, to any Company records which are either prepared or provided to the Director during the time period they were a Director of the Company. The Company has not otherwise, during or since the end of the financial year, except to the extent permitted by law, indemnified or agreed to indemnify an officer or external auditor of the Company or of any related body corporate against a liability incurred as such by an officer or external auditor. Karoon Energy Ltd 48 Annual Report 2021