The mining sector has a critical role to play in addressing the climate crisis and can deliver significant social benefits. We acknowledge that, as an extractive industry, mining does have an impact both on the environment and local stakeholders. By adhering to world class Environmental, Social and Governance (ESG) practices, we have the opportunity for our business operations, people, and products to materially support the transition to a sustainable and zero carbon future and benefit the communities in which we operate whilst mitigating any negative impacts.

We have established and embrace the following ESG Principles to align our business strategies and operations to deliver performance that meets our stakeholders’ expectations and international standards.

We will:

• Ensure our demonstrable compliance with established national and international environmental, social, governance and ethical standards.
• Create and sustain an organisational culture that respects and values diversity, inclusivity, equality and human rights.
• Actively identify, consult, engage and listen to our stakeholders including local communities, employees, investors, supply chains, rights holders and customers.
• Ensure the safety, welfare and wellbeing of our employees and persons who may be affected by our operations and products.
• Implement an ESG management framework to govern the whole life cycle of mine development – from initial conceptual and feasibility studies, through construction and operation, to progressive closure and restoration.
• Integrate a precautionary and net gain approach into our decision-making process to avoid, minimise and ameliorate environmental and social impacts.
• Require our supply chains to meet our ESG standards as part of our sustainable and responsible procurement processes and codes of conduct.
• Partner with our local communities to materially support their socio-economic development.
• Be transparent in our communications with respect to the progress we are making embedding these ESG principles into all our activities.

Our ESG management framework has been categorised into twelve focus areas covering:

We will set ambitious performance targets for each of these focus areas and will monitor, manage, and publish the results.

Ed Bowie, CEO Beowulf Mining plc, May 2024