Annual Report 2023

Note 18. Share-based payments (continued) (a) Issue of Options and Performance Rights (continued) Performance Rights: Grant Date Beginning Balance Granted as remuneration Exercised during year Lapsed Balance at end of year Vested and Exercisable 31 Oct 2022: Tranche 1 – 9,333,335 – – 9,333,335 – 31 Oct 2022: Tranche 2 – 9,333,333 – – 9,333,333 – 31 Oct 2022: Tranche 3 – 9,333,332 – – 9,333,332 – 3 Nov 2021: Tranche 1 12,000,000 – (12,000,000) – – – 3 Nov 2021: Tranche 2 12,000,000 – (12,000,000) – – – 3 Nov 2021: Tranche 3 12,000,000 – (12,000,000) – – – 23 Oct 2020: Tranche 2 10,000,000 – (10,000,000) – – – 31 Oct 2019: Tranche 2 2,600,000 – – (2,600,000) – – 31 Oct 2019: Tranche 3 2,600,000 – – (2,600,000) – – Total 51,200,000 28,000,000 (46,000,000) (5,200,000) 28,000,000 – During the 2023 financial year 28 million performance rights were granted with the following performance conditions attached: Tranche 1 – to vest upon the later of both the following conditions occurring: – The Closing Price of Sunstone Shares being $0.090 or more for 10 trading days out of any 20 consecutive trading days; and – 12 months after issue. Tranche 2 – TSR performance as measured against the ASX Small Resources Index, as follows: – Performance below the index no shares will vest. – Performance equal to the index will see 50% vest, increasing linearly with outperformance of the index by up to 25%, such that 100% of shares will vest should Sunstone’s performance be greater than 25% above the index performance; and – Testing will be annually on 30th June. Tranche 3 – to vest upon the later of both the following conditions occurring: – The Closing Price of Sunstone Shares being $0.135 or more for 10 trading days out of any 20 consecutive trading days; and – 12 months after issue. Each tranche of Shares will not be able to be released from the Employee Performance Rights Plan until the performance based Vesting Conditions for that tranche have been achieved. During the 2023 financial year 46 million performance rights vested upon meeting the performance criteria: Grant Date Share Price Hurdle Number Vested Date Vested Disposal Restriction 3 Nov 2021: Tranche 1 $0.0710 12,000,000 03/11/2022 Yes 3 Nov 2021: Tranche 2 TSR 12,000,000 01/07/2022 Yes 3 Nov 2021: Tranche 3 $0.0940 12,000,000 03/11/2022 Yes 23 Oct 2020: Tranche 2 TSR 10,000,000 01/07/2022 Yes Total 46,000,000 Notes to the Financial Statements for the year ended 30 June 2023 54 Sunstone Metals Limited Annual Report 2023

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