Directors’ Report Continued Remuneration Report (Audited) continued Section 5. Statutory and Share‑based Reporting continued Share‑based Remuneration The exercise price of share options on issuance is currently $1.40. There are currently 4,066,123 share options and 12,385,073 performance rights issued under the 2016 ESOP, 2016 PRP and 2019 PRP respectively, representing approximately 2.97% of the Company’s total number of ordinary shares issued. The terms and conditions of each grant of share options and performance rights over unissued ordinary shares in the Company affecting remuneration in the current or a future financial year are as follows: Fair Value Exercise Price Per Share Per Share Option or Option or Performance Date Vested Performance Right at Grant Performance Grant Date and Exercisable Expiry Date Right Date % Vested Condition Achieved ESOP options 21 September 2018 1 July 2021 30 June 2022 A$1.40 A$0.285 100 2021 Performance condition 31 December 2018 1 July 2021 30 June 2022 A$1.40 A$0.100 100 2021 Performance condition Performance rights 21 September 2018 1 July 2021 30 June 2022 $– A$1.150 100 2021 Performance condition 31 December 2018 1 July 2021 30 June 2022 $– A$0.850 100 2021 Performance condition 12 November 2019 1 July 2021 30 June 2022 $– A$1.060 21 2020 Performance condition 12 November 2019 1 July 2022 30 June 2023 $– A$1.060 – To be determined 18 October 2019 1 July 2021 30 June 2022 $– A$1.075 43 2020 Performance condition 18 October 2019 1 July 2022 30 June 2023 $– A$1.075 – To be determined 29 November 2019 1 July 2021 30 June 2022 $– A$1.115 7.5 2020 Performance condition 29 November 2019 1 July 2022 30 June 2023 $– A$1.115 – To be determined 25 September 2020 1 July 2022 30 June 2023 $– A$0.740 69 2021 Performance condition 25 September 2020 1 July 2023 30 June 2024 $– A$0.587 – To be determined 27 November 2020 1 July 2023 30 June 2024 $– A$1.195 – To be determined Share options and performance rights are granted for no consideration. Share options and performance rights granted carry no dividend or voting rights. Karoon Energy Ltd 68 Annual Report 2021