GROUP PERFORMANCE The table below shows the performance of the Group as measured by the Group’s closing share price and EPS over the last five years. 12 months ended 30 June 2021# 12 months ended 30 June 2022 12 months ended 30 June 2023 12 months ended 30 June 2024 12 months ended 30 June 2025 Closing share price $1.88 $0.39 $0.85 $0.56 $0.37 Loss after tax ($) (11,150,880) (18,195,977) (8,969,241) (6,554,350) (6,932,280) EPS ($ per share) (0.1443) (0.2003) (0.0975) (0.0709) (0.0623) # Data included for these financial years are impacted by a consolidation of securities in December 2020 on the basis of 1 security for every 30 securities held. SHARE OPTIONS Shares issued as a result of the exercise of options During the financial year the Company issued no new ordinary shares from the exercise of options (2024: Nil). Options issued 1,000,000 options were issued to Non Executive Directors under the terms of the IIQ Incentive Option Plan (IOP) during the financial year as follows: – Non Executive Directors (Dr Geoffrey Cumming, Max Johnston, Philip Powell and Mary Harney) were each awarded 250,000 options which were ratified at the 2024 Annual General Meeting. These options were granted on 29 November 2024. The options are exercisable at $1.00 per option, vest in three equal tranches – 12, 24 and 36 months from grant date – and all expire on 29 November 2028. The fair value per option at grant date was calculated using a Binomial option pricing model. Options are forfeited if the Directors leave the employment of INOVIQ before vesting. There are no performance conditions attached to these options. The options were however issued at an exercise price that represented a 117.39% premium to IIQ’s share price at the time of issue. In the comparative period 6,750,000 options were issued to staff members under the terms of the IIQ Incentive Option Plan (IOP) as follows: – Mr. David Williams was awarded 6,450,000 options upon his appointment to the role of Non-Executive Chairman which was ratified at the 2023 Annual General Meeting. These options were granted on 29 November 2023. The options are exercisable at $0.89 per option, vest in six equal tranches – 6, 12, 18, 24 30 and 36 months from grant date – and each tranche expires 2 years after vesting. The fair value per option at grant date was calculated using a Binomial option pricing model. Options are forfeited if Mr. Williams leaves the employment of INOVIQ before vesting. There are no performance conditions attached to these options. The options were however issued at an exercise price that represented a 45.90% premium to IIQ’s share price at the time of issue. – Dr. Leearne Hinch was awarded 250,000 options in her role as Chief Executive Officer and Dr. Greg Rice was awarded 50,000 options in his role as Chief Scientific Officer. These options were granted on 28 September 2023. The options are exercisable at $0.845 per option, vest in three equal tranches – 12, 24 and 36 months from grant date – and expire on 28 September 2027. The fair value per option at grant date was $0.2882 (calculated using a Binomial option pricing model). Options are forfeited if the employee leaves the employment of INOVIQ before vesting. There are no performance conditions attached to these options. The options were however issued at an exercise price that represented a 59.4% premium to IIQ’s share price at the time of issue. Directors’ Report continued 26 INOVIQ Limited
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