CONTENTS FINANCIAL STATEMENTS YEAR IN REVIEW DIRECTORS’ REPORT CORPORATE DIRECTORY SHAREHOLDER INFORMATION 2025 STI Performance Criteria The STI performance criteria for the 2025 financial year were set at the following levels: Performance Hurdle Nil award Minimum Performance (for a STI award above 0%) Threshold Performance (50% award) Target Performance (75% of award) Stretch Performance (100% of award) Production >10% below target performance 10% below target performance 3.5% below target performance Meets Board approved budgeted product throughput quantity milestones 10% above target performance Per Tonne Unit Operating Costs Costs >10% above target performance Costs 10% above target performance Costs 3.3% above target performance Meets Board approved budgeted costs of production Costs 7.5% below target performance Health, Safety & Environmental Performance Increase on year-on-year baseline HSE performance target by >10% Increase on year-on-year baseline HSE performance target by <10% 50% achievement of year-on-year baseline HSE performance targets Achievement of year-on-year baseline HSE performance targets Superior performance relative to prior year baseline targets Where actual performance achievement falls between performance hurdle intervals (e.g., between Minimum, Threshold and Target performance), the actual award outcome will be determined on a sliding scale basis. For example, where actual production performance is 5% below target performance and thereby falls between Threshold and Target performance, the actual award associated with the Production performance hurdle would equate to 62.5% of the maximum award. Going forward into the 2026 Financial Year, the Committee has reviewed the above STI arrangement. This has been discussed further within Section 9 - 2026 Financial Year Planned Remuneration Structure. 2025 STI Performance Outcomes Following the end of the 2025 financial year, the Committee considered actual performance and achievements compared to the 2025 STI Performance Criteria described in the above table. Following the Committee’s consideration, the Board resolved to award 70% of the maximum award outcome, with Health, Safety & Environmental performance and unit cost performance accounting for the majority of the award. Production performance hurdles achieved above Threshold performance, but below Target performance. Awards were majority settled in cash In lieu of equity following Committee consideration. 25 Sheffield Resources Limited Annual Report 2025
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