EAGLE MOUNTAIN MINING LIMITED — Remuneration Information 2018

Mar 13, 2018

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Vesting and Exercise Conditions of Performance Rights

Eagle Mountain Mining Limited (ACN 621 541 204) ( Eagle Mountain ) has established an Employee Incentive Plan for its officers and employees ( Incentive Plan ) which is governed by the Employee Incentive Plan Rules ( Plan Rules ).

Under the Incentive Plan, Eagle Mountain may grant options to subscribe for fully paid ordinary shares in the capital of Eagle Mountain ( Shares ), performance rights entitling the holder to be issued Shares, or share appreciation rights entitling the holder to subscribe for Shares or to be paid a cash amount of equivalent value as determined by the board of the Company ( Board ) in its sole and absolute discretion, on terms and conditions set by the Board at its discretion.

The material terms of the Incentive Plan were disclosed in Eagle Mountain’s prospectus dated 23 January 2018 ( Prospectus ), and a copy of the Plan Rules is available on Eagle Mountain’s website at eaglemountain.com.au.

As disclosed in the Prospectus, Eagle Mountain has granted 75,000 performance rights ( Performance Rights ) to its Chief Geologist, Mr Fabio Vergara, under the Incentive Plan. Each Performance Right entitles Mr Vergara to be issued one Share, subject to the satisfaction of the vesting and exercise conditions set out below, and otherwise on and subject to the terms of the Plan Rules.

Vesting Conditions

The Performance Rights will vest in three tranches, as follows:

1. 25,000 Performance Rights will vest after 12 months of Mr Vergara’s continuous employment with Eagle Mountain and Mr Vergara’s satisfactory performance achieved at the sole and absolute discretion of the Chief Executive Officer of Eagle Mountain, and the Board;

2. 25,000 Performance Rights will vest after 24 months of Mr Vergara’s continuous employment with Eagle Mountain and Mr Vergara’s satisfactory performance achieved at the sole and absolute discretion of the Chief Executive Officer of the Company, and the Board; and

3. 25,000 Performance Rights will vest after 36 months of Mr Vergara’s continuous employment with Eagle Mountain and Mr Vergara’s satisfactory performance achieved at the sole and absolute discretion of the Chief Executive Officer of the Company, and the Board.

Exercise Conditions

Exercise of the Performance Rights by Mr Vergara is conditional upon Mr Vergara being employed by Eagle Mountain on the proposed exercise date of the Performance Rights.

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Ground Floor, 22 Stirling Hwy, Nedlands WA 6009 | PO Box 3365 Nedlands WA 6009 info@eaglemountain.com | eaglemountain.com.au