Resolution Minerals Director Mendel Rogatsky’s 275,000 Unquoted Options Expire Unexercised on 30 June 2026

Expiry of Mendel Rogatsky’s 275,000 Unquoted Options A at $0.064 Exercise Price

The primary update concerns the expiry of 275,000 Unquoted Options A held directly by Resolution Minerals director Mendel Rogatsky. These options, exercisable at $0.064 per share, expired on 30 June 2026 as scheduled. The lapse occurred automatically in accordance with the terms of the options, with no market transaction necessary to effect the change.

The options lapsed for nil consideration, consistent with the standard outcome when options are not exercised before expiry. The filing confirms the direct personal ownership of these options by Rogatsky, with no third-party or indirect holdings involved. The previous disclosure of Rogatsky’s interests was made on 27 February 2026, making this the latest update under ASX Listing Rule 3.19A.2.

Rogatsky’s Remaining Securities Holdings Following the Expiry

After the lapse of the Unquoted Options A, Rogatsky’s direct holdings in Resolution Minerals remain substantial across various securities classes. He holds 45,240,625 fully paid ordinary shares. Additionally, he retains 36,655,079 Quoted Options (ASX:RMLOC) with an exercise price of $0.018, expiring on 31 July 2028.

He also holds 1,000,000 Quoted Options (ASX:RMLOD) exercisable at $0.10, expiring on 30 November 2029. His unquoted holdings now consist solely of 22,500,000 Unquoted Options B, which have an exercise price of $0.032 and expire on 26 March 2029. Most notably, Rogatsky holds 105,000,000 Performance Rights, unquoted instruments subject to KPI-based vesting conditions. The company did not disclose the specific KPIs or vesting schedule in this update.

Structure of the Unquoted Options A Prior to Expiry

The Unquoted Options A were unlisted and not traded on the ASX. Held directly by Rogatsky, they were classified as a relevant interest under the Corporations Act and ASX Listing Rules. With an exercise price of $0.064, these options would have required the company’s shares to trade above that level to have intrinsic value at exercise.

The decision not to exercise before the 30 June 2026 expiry caused the options to lapse with no value. Such outcomes are common among small-cap companies where exercise prices may be difficult to reach within the option term, especially during periods of market or sector volatility. The company did not comment on the reasons behind the non-exercise.

Use of Performance Rights and Options in Director Remuneration at Resolution Minerals

Rogatsky’s securities holdings reflect Resolution Minerals’ remuneration approach, which heavily utilises equity-based instruments alongside ordinary shares. Performance rights, contingent on KPI achievement, are commonly used by ASX-listed exploration and development companies to align director incentives with shareholder outcomes. Rogatsky’s 105,000,000 performance rights constitute the largest single securities class in his portfolio by number.

The mix of quoted options, unquoted options, and performance rights at various exercise prices and expiry dates indicates a layered equity incentive structure developed over time. The Unquoted Options B, now the only unquoted options remaining, have an exercise price of $0.032 and expire in March 2029, providing a longer timeframe for potential value. The company did not disclose board remuneration policies or the original terms for the Performance Rights in this update.

Regulatory Requirements for Director Securities Disclosures

The Appendix 3Y filing is mandated under ASX Listing Rule 3.19A.2, requiring listed entities to notify the exchange of any changes in directors’ relevant interests in company securities. This ensures timely, accurate market information about securities held by insiders, supporting price discovery and market confidence.

Under section 205G of the Corporations Act, companies act as agents for their directors in making these disclosures. The requirement covers on-market transactions as well as events such as option lapses, rights exercises, and performance instrument vesting. Resolution Minerals confirmed this change did not occur during a closed period, so prior written clearance was not applicable.

Implications of Rogatsky’s 105 Million Performance Rights on Future Share Capital

The 105,000,000 performance rights represent a potentially significant addition to Resolution Minerals’ ordinary share capital if the KPI conditions are met and the rights vest. Performance rights typically convert one-for-one into ordinary shares upon vesting, which would increase the company’s issued capital by 105 million shares. Investors concerned about dilution or future share count should consider this figure material.

However, vesting is contingent on achieving specified KPIs, which the company did not disclose in this update. These KPIs could relate to share price targets, exploration milestones, production outcomes, or other corporate performance measures. Investors should consult prior disclosures or the company’s remuneration report for details.

Rogatsky’s Quoted Options Holdings: RMLOC and RMLOD Explained

Rogatsky holds 36,655,079 quoted options under the RMLOC code, exercisable at $0.018 and expiring 31 July 2028. This lower exercise price compared to the lapsed Unquoted Options A ($0.064) indicates a different risk-reward profile.

He also holds 1,000,000 quoted options under RMLOD, with a $0.10 exercise price and expiry on 30 November 2029. These require a larger share price increase to become valuable. The existence of two quoted option classes with differing terms highlights the complexity of Resolution Minerals’ capital structure and the range of equity instruments issued to directors and possibly other stakeholders. The total number of RMLOC and RMLOD options outstanding was not disclosed.

Investor Takeaways from This Director Interest Update

The expiry of 275,000 Unquoted Options A reduces the total potential shares issuable to Rogatsky, slightly lowering his theoretical dilution from options. However, this amount is small relative to his overall holdings and the company’s total issued capital, which was not disclosed.

No new securities acquisitions were reported, indicating this change resulted solely from the natural expiry of an existing instrument rather than new remuneration or market transactions. The immediate effect on the share price was not evident from public information. Investors should watch for future changes in Rogatsky’s holdings, including option exercises or performance rights vesting.

Outlook: Monitoring Option Expiry Dates and Performance Rights Vesting

With the Unquoted Options A expired, focus shifts to remaining instruments and their expiry timelines. Unquoted Options B expire on 26 March 2029, RMLOC options on 31 July 2028, and RMLOD options on 30 November 2029. Each expiry could trigger further Appendix 3Y disclosures depending on exercises or lapses.

The 105,000,000 performance rights remain the most significant element due to their scale and KPI-based vesting. Any announcements regarding operational or financial milestones could impact their vesting status. Shareholders and investors should monitor Resolution Minerals’ ongoing updates and director interest notices for clarity on these instruments. The company did not provide a vesting timeline or specific conditions in this update.