Siren Gold Limited Annual Report 2020

Operations Review Meetings of directors During the financial year seven meetings of Directors were held. Attendances by each Director during the year are stated in the following table: Directors Meetings Number eligible to attend Number attended Paul Angus 7 7 Keith Murray 6 6 Brian Rodan 7 7 Dave Filov 7 7 Don Harper 0 0 At the date of this report, the Audit, Nomination, Finance and Operations Committees comprise the full Board of Directors. The Directors believe the Company is not currently of a size nor are its affairs of such complexity as to warrant the establishment of these separate committees. Accordingly, all matters capable of delegation to such committees are considered by the full Board of Directors. Indemnifying officers or auditors Indemnification The Company has agreed to indemnify all the directors of the Company for any liabilities to another person (other than the Company or a related body corporate) that may arise from their position as directors of the Company and its controlled entities, except where the liability arises out of conduct involving a lack of good faith. Insurance premiums During the financial year the Company has paid a premium of $32,847 (2019: $Nil) in respect of a contract to insure the directors and officers of the Company and its controlled entities against any liability incurred in the course of their duties to the extent permitted by the Corporations Act 2001 . Remuneration Report – Audited i. Remuneration Policy The remuneration policy of Siren Gold Limited has been designed to align key management personnel (KMP) objectives with shareholder and business objectives by providing a fixed remuneration component and offering specific long- term incentives based on key performance areas affecting the Consolidated Group’s financial results. The Board of Siren Gold Limited believes the remuneration policy to be appropriate and effective in its ability to attract and retain high-quality KMP to run and manage the Consolidated Group, as well as create goal congruence between directors, executives and shareholders. The Board’s policy for determining the nature and amount of remuneration for KMP of the Consolidated Group is as follows: – The remuneration of an executive Director will be decided by the Board, without the affected executive Director participating in that decision-making process. – The total maximum remuneration of non-executive Directors is initially set by the Constitution. Subsequent variation is by ordinary resolution of Shareholders in general meeting in accordance with the Constitution, the Corporations Act and the ASX Listing Rules, as applicable. The determination of non-executive Directors’ remuneration within that maximum cap will be made by the Board having regard to the inputs and value to the Company of the respective contributions by each non-executive Director. The current amount has been set at an amount not to exceed $250,000 per annum. – In addition, a Director may be paid fees or other amounts (i.e. subject to any necessary Shareholder approval), or non-cash performance incentives such as Options) as the Directors determine, where a Director performs special duties or otherwise performs services outside the scope of the ordinary duties of a Director. – Directors are also entitled to be paid reasonable travelling, hotel and other expenses incurred by them respectively in the performance of their duties as Directors. for the year ended 31 December 2020 Annual Report 2020 23