Axiom Mining 2015 Annual Report

GROUP FINANCIAL REPORT

Directors’ report continued

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Vivian Lim, Corporate Affairs Manager – Terms of agreement: Appointed with no fixed term commencing 1 May 2014. – Total Remuneration Package of $155,606 plus superannuation per annum. – Short term incentive scheme: Invitation to earn in 66,667 Performance Rights under the Employee Performance Rights Scheme. – Long term incentive scheme: Entitled to 266,667 Performance Rights over the next three years, starting 1 May 2015 under the Employee Performance Rights Scheme at the Board’s discretion. – No bonus was issued in 2015. – Notice period one month. Juan Jeffery, Executive General Manager Mining Operations – Terms of agreement: Appointed with no fixed term commencing 29 July 2015. – Total Remuneration Package of $250,000 plus superannuation per annum. – Long term incentive scheme: Invitation to participate in the Employee Performance Rights Scheme at the Board’s discretion, with the opportunity to earn 500,000 Performance Rights over the next three years, starting 29 January 2016. Andrew Barber, Corporate Development and Strategy Manager – Terms of agreement: Appointed with no fixed term commencing 3 March 2015. – Total Remuneration Package of $182,648 plus superannuation per annum. – Non-cash benefits represent car parking near the corporate office. – Long term incentive scheme: Invitation to participate in the Employee Performance Rights Scheme at the Board’s discretion, with the opportunity to earn 266,667 Performance Rights over the next three years, starting 4 September 2015. – No bonus was issued in 2015. – Notice period one month. – No bonus was issued in 2015. – Notice period of three months.

Remuneration report (continued)

d. Service agreements The Group has service agreements with the CEO, CFO and other key management personnel (‘KMP’). The CEO’s agreement contains provisions for payment of a cash bonus, other benefits including accommodation and living expenses in Honiara, and participation in the Senior Executive Performance Rights Plan. Key management personnel agreements contain provisions for participation where eligible in the Company’s Performance Rights Plan. Ryan Richard Mount, Chief Executive Officer and Executive Director – Terms of agreement: Appointed as CEO and Executive Director — extended for a further five years commencing 1 March 2015. – Total Remuneration Package of $750,000 plus superannuation per annum to be reviewed annually by the Board. – Mr Mount is required to be frequently based in Solomon Islands, and accommodation and living expenses in Honiara are met by the Company. – Non-cash benefits include life insurance cover, accommodation and a company vehicle whilst in Solomon Islands. – 2.4 million Performance Rights were granted as short term incentives pursuant to the Director and Senior Executive Performance Rights Plan during the year. – 9.6 million Performance Rights were granted as long term incentives pursuant to the Director and Senior Executive Performance Rights Plan. – Mr Mount is also entitled to an additional bonus that may from time to time be approved at the discretion of the Board. No additional bonus has been granted for the 2015 year. Sailesh Solanki, Chief Financial Officer – Terms of agreement: Appointed as CFO with no fixed term commencing 8 September 2014. – Total Remuneration Package of $185,000 plus superannuation per annum. – Non-cash benefits represent car parking near the corporate office. – Bonus scheme at the Board’s discretion includes invitation to participate in the Employee Performance Rights Scheme. – Notice period by the Company: 24 months. – Notice period by the employee: 12 months.

AXIOM MINING LIMITED ANNUAL REPORT 2015

– No bonus was issued in 2015. – Notice period three months.