74 FINANCIAL REPORT NOTES TO THE FINANCIAL STATEMENTS CONTINUED 30 June 2023 2023 Tranche Grant date Expiry date Exercise price Balance at the start of the year Granted Exercised Expired / lapsed on termination of employment Balance at the end of the year 1 07/08/2017 07/08/2022 $0.6700 15,500 - - (15,500) - 2 05/02/2018 05/02/2023 $0.7802 240,000 - - (240,000) - 3 13/11/2019 04/01/2024 $0.4925 1,200,000 - - - 1,200,000 4 13/01/2020 13/01/2025 $0.8812 200,000 - - (12,500) 187,500 5 09/11/2020 09/11/2024 $1.1320 1,200,000 - - - 1,200,000 6 09/11/2020 13/01/2025 $0.8812 800,000 - - (200,000) 600,000 7 04/01/2021 04/01/2025 $1.6900 200,000 - - (12,500) 187,500 8 09/09/2021 26/06/2026 $1.3650 100,000 - - - 100,000 9 16/11/2021 16/11/2025 $1.6900 1,000,000 - - (250,000) 750,000 10 16/11/2021 16/11/2025 $2.2400 1,500,000 - - (1,000,000) 500,000 11 16/11/2021 16/11/2026 $1.5600 800,000 - - - 800,000 12 01/02/2022 01/02/2027 $0.9400 800,000 - - - 800,000 13 01/02/2022 01/02/2027 $0.9400 500,000 - - (75,000) 425,000 14 24/05/2022 24/05/2027 $0.7800 100,000 - - - 100,000 15 03/03/2023 03/03/2027 $0.1500 - 3,930,000 - - 3,930,000 16 03/05/2023 03/05/2027 $0.1870 - 4,000,000 - - 4,000,000 8,655,500 7,930,000 - (1,805,500) 14,780,000 Weighted average exercise price $1.2826 $0.1785 $0.0000 $1.8977 $0.6292 At the end of the period the following outstanding options were vested and exercisable: • Options in tranche 1 - 2 expired during the year • Options in tranches 3 & 6 were vested and exercisable • Options in tranches 4, 5, 7 & 9 were vested and exercisable to 75%, apart from those in the above table which have expired • Options in tranches 8 were vested and exercisable to 50%, apart from those in the above table which have expired • Options in tranche 10 & 16 were vested and exercisable as to 33%, apart from those in the above table which have expired • Options in tranche 11, 12, 13 & 14 were vested and exercisable as to 25%, apart from those in the above table which have expired • Options in tranche 15 were unvested The weighted average remaining contractual life of options outstanding at 30 June 2023 is 2.995 years. Note 32. Share-based payments continued
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