Impact Minerals Limited Annual Report 2021

DIRECTOR’S REPORT Impact Minerals Ltd Annual Report 2021 89 k) Loans to key management personnel There were no loans to individuals or members of key management personnel during the financial year or the previous financial year. l) Other transactions with key management personnel There were no other transactions with key management personnel during the financial year or the previous financial year. END OF REMUNERATION REPORT (AUDITED) SHARES UNDER OPTION Unissued ordinary shares of the Company under option at the date of this report are as follows: No option holder has any right under the options to participate in any other share issue of the Company or any other entity. SHARES ISSUED ON THE EXERCISE OF OPTIONS In August and November 2020, the Company issued a total of 2,708,434 ordinary shares to employees upon the cashless exercise of 8,000,000 options with an exercise price of $0.0149 and expiring on 5 November 2023. The terms of the Company’s Directors' and Employees' Option Acquisition Plan provides for a Cashless Exercise Facility. CORPORATE GOVERNANCE STATEMENT The Company’s 2021 Corporate Governance Statement has been released as a separate document and is located on the Company’s website at http://www.impactminerals.com.au/corporate- governance/. PROCEEDINGS ON BEHALF OF THE GROUP No person has applied to the Court under section 237 of the Corporations Act 2001 for leave to bring proceedings on behalf of the Company, or to intervene in any proceedings to which the Company is a party, for the purpose of taking responsibility on behalf of the Company for all or part of those proceedings. INDEMNIFICATION AND INSURANCE OF DIRECTORS AND OFFICERS During the financial year, the Company paid a premium to insure the Directors and Officers of the consolidated entity against any liability incurred as a Director or Officer to the extent permitted by the Corporations Act 2001. The contract of insurance prohibits the disclosure of the nature of the liabilities covered or the amount of the premium paid. Date options granted Expiry date Issue price of shares Number under option 8 Nov 2018 30 Nov 2021 $0.03 40,000,000 8 Nov 2018 30 Nov 2022 $0.0375 20,000,000 8 Nov 2019 and 15 Nov 2019 5 Nov 2023 $0.0149 93,000,000 30 Apr 2021 29 Apr 2023 $0.03 4,000,000 TOTAL 157,000,000