16 ISSUED CAPITAL (CONTINUED) (B) TERMS AND CONDITIONS OF CONTRIBUTED EQUITY Ordinary shares Ordinary shares have the right to receive dividends as declared, and, in the event of the winding up of the Company, to participate in the proceeds from the sale of surplus assets in proportion to the number of and amounts paid up on shares held. Ordinary shares entitle their holder to one vote, either in person or by proxy, at a meeting of the Company. 17 RESERVES As at 30 June 2026 $ As at 30 June 2025 $ Share based payment reserve 1,339,772 1,767,761 Foreign currency translation reserve 96,520 (103,494) 1,436,292 1,664,267 Share based payment reserve* Balance at beginning of year 1,767,761 1,803,134 - Value of vested options that lapsed without being exercised transferred to accumulated losses (307,893) (848,929) - Fair value of options granted (120,096) 813,556 Balance at end of year 1,339,772 1,767,761 Foreign currency translation reserve Balance at beginning of year (103,494) (26,810) Foreign currency translation 200,014 (76,684) Balance at the end of the year 96,520 (103,494) * The share-based payment reserve is used to record the fair value of equity instruments issued to employees, directors, and contractors. 18 ACCUMULATED LOSSES As at 30 June 2026 $ As at 30 June 2025 $ Balance at the beginning of the year (62,998,968) (56,915,617) Value of vested options that lapsed without being exercised 307,893 848,929 Net loss after income tax (7,505,123) (6,932,280) (70,196,198) (62,998,968) Notes to the Financial Statements continued for the year ended 30 June 2026 52 INOVIQ Limited
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