Climate Change Data

Environmental Metrics

ESG Focus Areas

• Environmental
• Social
• Governance

Environmental Achievements

• Focus on renewable energy options to drive all operations: 100% grid energy for processing plant will be generated from Isimba hydro-power station, solar energy powering camp, electric drying (graphite processing)
• Operations will be audited and certified to international standards: ISO 14001, ISO 9001, ISO 45001

Social Achievements

• Building an operation in close co-operation with local population & with their involvement
• Community Development Agreement in place to return value to the local participants: US$1.8M to be returned to community over life of mine, with US$180k already paid out
• Uplifting local education via funding schools and scholarships –education fund operating
• Assisting development of local community agriculture schemes via purchase of equipment
• Social awareness programs
• Ongoing audit of all activities to ensure relevant and value-adding

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: Null

Certifications: ISO 14001, ISO 9001, ISO 45001

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

• Not disclosed

Not disclosed

Sustainable Products & Innovation

• Not disclosed

Awards & Recognition

• Not disclosed

Environmental Metrics

ESG Focus Areas

• Environmental
• Social
• Governance

Environmental Achievements

• Developing a 'leave no trace' solution to development, including utilizing renewable energy supply and electrification options for operations.

Social Achievements

• Signed a revised agreement with the local communal land association of Locomo village for land surface rights, agreeing to help provide local education and sensitization on mining opportunities, and prioritizing employment for local community members.
• Donated to local causes, such as a scholarship program and COVID-19 relief efforts.

Governance Achievements

• Established a Remuneration and Nominations Committee.
• Developed a share dealing code compliant with Market Abuse Regulations.

Climate Goals & Targets

Environmental Challenges

• Securing necessary funding for the Definitive Feasibility Study (DFS) took longer than anticipated.
• Potential costs associated with land rehabilitation under Ugandan law.
• Fluctuations in graphite prices and currency exchange rates.
• Potential environmental liabilities from mining activities.
• Government regulations and political risks in Uganda.

Mitigation Strategies

• Secured a US$5 million technical assistance grant from the US International Development Finance Corporation (DFC) to fund DFS costs.
• Engaging experienced partners in China to secure offtake contracts.
• Building a strong team in Uganda to manage in-country requirements.
• Regularly monitoring graphite prices and preparing to raise further capital if needed.
• Implementing environmental management systems to mitigate environmental hazards.
• Regularly reviewing changes in government regulations and political stability in Uganda.

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Not disclosed

Climate-Related Risks & Opportunities

Physical Risks

• Not disclosed

Transition Risks

• Not disclosed

Opportunities

• The global movement towards clean energy and storage solutions, in which graphite forms an integral part, together with technological advances in the use of graphite are an exciting opportunity for the Group to be a significant part of sustainable energy solutions.

Reporting Standards

Frameworks Used: TCFD

Certifications: Null

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

• Not disclosed

Not disclosed

Sustainable Products & Innovation

• Not disclosed

Awards & Recognition

• Not disclosed