Notes to the Consolidated Financial Statements for the year ended 30 June 2025 19. Loss per share Basic loss per share is determined by dividing the loss after income tax by the weighted average number of ordinary shares outstanding during the year. Diluted earnings per share adjusted the figures used in the determination of basic loss per share by taking into account amounts unpaid on ordinary shares and any reduction in loss per share that will probably arise from the exercise of partly paid shares or options outstanding during the year. The conversion of options and performance rights to shares for purposes of dilutive calculation is not required when the Group is in a loss position because the conversion would cause the loss position to decrease. The Company’s basic and diluted loss per share are as follows: 2025 Cents per share 2024 Cents per share From continuing operations Basic loss per share (5.59) (8.19) Diluted loss per share1 (5.59) (8.19) Note 1: The potential ordinary shares are anti-dilutive so no change was made to the basic earnings per share. The loss after income tax used in the calculation is as follows: 2025 $’000 2024 $’000 Earnings used in calculating earnings per share – continuing operations Loss after income tax (22,050) (32,191) The weighted average number of shares used in the calculation is as follows: 2025 Number (‘000) 2024 Number (‘000) Weighted average number of shares used as denominator Weighted average number of ordinary shares for basic earnings per share 394,626 392,952 Effects of dilution from: - Options – 226 - Performance rights 4,871 4,185 Weighted average number of ordinary shares for diluted earnings per share 399,497 397,363 20. Related parties Loans to subsidiaries Loans made by Sheffield to its controlled entities are made to meet required expenditure. The loans are payable on demand and are not interest bearing. Transactions with other related parties Farview Solutions Limited (Farview) provides consultancy services to the Group. Mr Griffin is a director and controlling shareholder of Farview and also serves as Executive Chair of Sheffield. The total amount paid to Farview during the year was $312,467 (2024: $574,561). The payment was disclosed in the Key Management Personnel remuneration disclosure table, which forms part of the Directors’ Report. Ozscot Trust (Ozscot) provides general consultancy services to the Group. Mr Cowe is a director of Ozscot and also serves as Non-Executive Director of Sheffield. The total amount paid to Ozscot during the year was $39,999 (2024: $40,000). The payment was disclosed in the Key Management Personnel remuneration disclosure table, which forms part of the Directors’ Report. 70 Sheffield Resources Limited Annual Report 2025
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