Climate Change Data

Environmental Metrics

Climate Goals & Targets

Environmental Challenges

• Marketing is slow – long lead times to penetrate market

Mitigation Strategies

• Review Mantuan Downs business strategy to align with new business direction
• Continue agriculture trials (CSR/Moree)
• Advance marketing/JV discussions with (S&B Bentonite, Taiko & others)

Supply Chain Management

Climate-Related Risks & Opportunities

Environmental Metrics

Climate Goals & Targets

Environmental Challenges

• Predicted early revenue from the water filtration and solutions business have not eventuated.

Mitigation Strategies

• No further funding to this project while the Company reviews its investment in this business. The company is evaluating a proposal for vendor reacquisition of this business.

Supply Chain Management

Climate-Related Risks & Opportunities

Environmental Metrics

ESG Focus Areas

• Safety
• Environmental Monitoring
• Community Consultation

Environmental Achievements

• Zero environmental reportable incidences in FY23
• Six Environmental Management Plans approved by the Department of Planning and Environment (DPE)

Social Achievements

• Zero Lost Time and Disabling injuries reported in FY23
• Continued community consultation with the Dartbrook Community Consultation Committee

Governance Achievements

• Board and Management renewal process commenced and completed
• Restructured Joint Venture Agreement (JVA) for the operation of the Dartbrook mine, increasing AQC’s direct working interest to 80% and net economic interest to 70%

Climate Goals & Targets

Environmental Challenges

• Securing third-party debt funding for Dartbrook mine restart
• Dewatering the Hunter Tunnel (70 megalitres of water)

Mitigation Strategies

• Successful $100 million capital raising
• Restructuring of the JVA to improve terms
• Securing a non-binding Letter of Intent for up to US$50 million (approximately A$75 million) from a leading global commodities trader
• Additional $3 million loan from Trepang Services for working capital

Supply Chain Management

Climate-Related Risks & Opportunities

Environmental Metrics

ESG Focus Areas

• Minimise water use
• Underground mining operations and technologies for potential reduction of scope 1 and 2 emissions
• Co-exist with surface cattle grazing operations
• Local employer

Environmental Achievements

• Committed to minimise water use under agreement with landowner
• Underground mining operations and technologies allows for improved utilisation of greenhouse gases for the potential reduction of scope 1 and 2 emissions

Social Achievements

• Committed to co-exist with surface cattle grazing operations
• Local employer with planned workforce of approximately 200+ people

Governance Achievements

• Renegotiated Joint Venture terms and agreement with significant positive outcomes for AQC shareholders
• Increased direct working interest in Dartbrook project to 80% and increased economic interest to 70%

Climate Goals & Targets

Environmental Challenges

• Restart and funding risk
• Joint venture risk
• Plant and Equipment risks
• Environmental risks
• Stamp duty risk
• Force majeure events
• Shortage of skilled labour
• Interest rate risk
• Foreign exchange risks
• Dilution of existing shareholdings
• Evolution Capital options dispute
• Management risk
• Compliance with health and safety laws
• Water shortages
• Royalties
• Changes in and compliance with government policy
• Volatility of coal prices
• Native tile
• Litigation risk
• General Risks
• Economic factors
• Share market conditions
• Insurance arrangements
• Substantial stockholder risk
• Future capital needs
• Regulatory risk and government policy
• Operational risks and costs

Mitigation Strategies

• Letters of Intent for leases of all major mining equipment
• Seeking further funding (~A$75m to first coal, ~A$20-25m working capital)
• Received Letter of Intent for up to US$50m (A$75m) from Trafigura
• Remediation works in progress
• Maintaining insurance
• Efforts to raise required funding

Supply Chain Management

Responsible Procurement

• Procurement of extensive 2nd hand equipment for panel development

Climate-Related Risks & Opportunities

Environmental Metrics

ESG Focus Areas

• Safety
• Community
• Environment

Environmental Achievements

• Not disclosed

Social Achievements

• Not disclosed

Governance Achievements

• Not disclosed

Climate Goals & Targets

Environmental Challenges

• Not disclosed

Mitigation Strategies

• Not disclosed

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Not disclosed

Climate-Related Risks & Opportunities

Physical Risks

• Not disclosed

Transition Risks

• Not disclosed

Opportunities

• Not disclosed

Reporting Standards

Frameworks Used: JORC Code

Certifications: Null

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

• Not disclosed

Not disclosed

Sustainable Products & Innovation

• Not disclosed

Awards & Recognition

• Not disclosed