NOTES TO FINANCIAL STATEMENTS 31 December 2025 26 SHARE CAPITAL Fully paid ordinary shares, which have no par value, carry one vote per share and a right to dividend income when declared by the Company. Share options over ordinary shares granted under the Geo Energy Share Option Scheme As at 31 December 2025, directors and employees held options over 14,879,500 ordinary shares, all of which are vested, in aggregate. The number of options and their expiry dates are as follows: As at 31 December 2024, directors and employees held options over 33,786,500 ordinary shares, all of which are vested, in aggregate. The number of options and their expiry dates are as follows: Share options granted under the Share Option Scheme carry no rights to dividend and no voting rights. Further details of the Share Option Scheme are contained in Note 40. Date of grant Number of options Expiring on: 24 May 2023 14,879,500 23 May 2033 14,879,500 Date of grant Number of options Expiring on: 24 May 2023 33,786,500 23 May 2033 33,786,500 27 TREASURY SHARES During the year, the Company did not acquire any of its own shares through purchases on the Singapore Exchange. In 2024, the Company acquired 4,500,000 of its own shares through purchases on the Singapore Exchange, with total amount paid to acquire the shares of US$950,990, which was deducted from shareholders’ equity. The shares were held as treasury shares. (1) In 2025, the Company issued 5,376,500 of treasury shares held by the Company at S$0.27 per treasury share as part of share options exercised during the year under the Geo Energy Share Option Scheme. The total amount received was US$1,128,000. On 28 March 2024, the Company had completed the sale of 14,883,333 treasury shares held by the Company at a selling price of S$0.45 per treasury share for an aggregate cash consideration of US$5,000,000 [Note 20(a)]. On 27 December 2024, the Company had completed the sale of 13,395,000 treasury shares held by the Company at a selling price of S$0.50 per treasury share for an aggregate cash consideration of US$5,000,000 [Note 20(a)]. 28 CAPITAL AND OTHER RESERVES (a) During the year, PT Golden Eagle Energy Tbk had completed a private placement of 275,000,000 shares for total proceeds of US$13,063,775. This resulted in a change in the Company’s ownership interest in subsidiaries that did not result in change of control, with a corresponding impact of US$8,838,135 reclassified from equity attributable to owners to non-controlling interests (Note 11). The difference of US$4,225,640 was taken into capital and other reserves, as additional paid-in capital, within transactions with equity owners. Group and Company 2025 2024 2025 2024 Number of ordinary shares US$ US$ At beginning and at end of year 1,420,873,113 1,420,873,113 109,544,661 109,544,661 Exercise of share options 13,406,000 - 2,811,414 - At end of year 1,434,279,113 1,420,873,113 112,356,075 109,544,661 Group and Company 2025 2024 2025 2024 Number of ordinary shares US$ US$ At beginning of year 6,653,967 30,432,300 1,490,907 6,930,882 Issued during the year (1) (5,376,500) (28,278,333) (1,204,674) (6,390,965) Repurchased during the year - 4,500,000 - 950,990 At end of year 1,277,467 6,653,967 286,233 1,490,907 104
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