Climate Change Data

Environmental Metrics

ESG Focus Areas

• Environment
• Community
• Workforce

Environmental Achievements

• Reclaimed 85 ha of land at Moa Joint Venture in Cuba (exceeding the 48 ha disturbed)
• Reclaimed 694 ha of land at Canadian coal mines
• Achieved 74% overall reclamation of disturbed land at Canadian coal operations
• Reduced SOx emissions at Moa by 50%
• Continued operation of emission reduction project in Varadero, Cuba (Energas)

Social Achievements

• Contributed over $315 million to local economies through wages
• Invested over $900,000 in education and over $400,000 in social causes
• Supported community recovery efforts in Moa, Cuba after Hurricane damage (>$75,000 in materials, equipment and paid hours)
• Ambatovy Local Business Initiative (ALBI) created almost 2,200 new jobs
• Established two new villages in Madagascar with improved living conditions and agricultural practices

Governance Achievements

• Sound corporate governance practices, including independent Lead Director and committees overseeing EH&S and Audit
• Annual Risk Assessment Report produced for the Audit Committee
• Quarterly reporting of EH&S issues to the Board of Directors

Climate Goals & Targets

Environmental Challenges

• Maintaining effective environmental management and health and safety management
• Keeping up with environmental legislation and regulations
• Ensuring worker skills and knowledge
• Maintaining effective CSR presence in Madagascar during Ambatovy Project construction
• Increasing haul distances at coal mines making GHG emission reduction difficult
• Delays in Clean Development Mechanism (CDM) credit issuance

Mitigation Strategies

• Working with local experts and internationally recognized methods for environmental management
• Corporate Director of EH&S providing company-wide coordination
• Ongoing training programs for workers
• Active stakeholder engagement in Madagascar
• Purchase of offset credits to meet GHG regulations
• Addressing regulatory and process issues within the UN CDM process

Supply Chain Management

Responsible Procurement

• Ambatovy Local Business Initiative (ALBI)

Climate-Related Risks & Opportunities

Transition Risks

• Increased regulation of GHG emissions
• Potential reduction in demand for Sherritt's products

Opportunities

• Development of clean coal technology

Reporting Standards

Frameworks Used: GRI

Third-party Assurance: Third-party verification of GHG emissions in Alberta

Awards & Recognition

• Four years in a row as one of the Best 50 Corporate Citizens in Canada (Corporate Knights magazine)
• John T. Ryan Safety Trophy for Genesee mine

Environmental Metrics

ESG Focus Areas

• Environment
• Community
• Workforce

Environmental Achievements

• Reclamation of the 1,300-hectare Gregg River mine site is 95% complete.
• At Moa Joint Venture in Cuba, 74 hectares of mined area were reclaimed, exceeding the 46 hectares disturbed.
• Ambatovy Project in Madagascar committed to reclaiming 2,400 ha of forest land, exceeding the 1800 ha mine footprint with additional conservation efforts resulting in a net gain of 11,900 ha of conserved land.

Social Achievements

• Canadian and Cuban operations contributed over $430 million to local economies.
• Ambatovy Project invested in transportation infrastructure, creating easier access to markets and services for 11 rural communities.
• Ambatovy Project supported local businesses through training and procurement, resulting in over $74 million in new local contracts.

Governance Achievements

• Sound corporate governance is embedded in the Board of Directors structure and policies, including a strict business ethics policy.
• Independent Lead Director ensures Board operates independently of management.
• Environment, Health and Safety (EH&S) Committee and Audit Committee oversee CSR-related issues.

Climate Goals & Targets

Environmental Challenges

• Maintaining effective environmental and health and safety management.
• Maintaining an effective knowledge base of environmental legislation and regulations.
• Ensuring worker skills and knowledge.
• Maintaining a CSR presence in Madagascar during Ambatovy Project construction.
• Understanding the Corporation’s position in and impact on communities.

Mitigation Strategies

• Quarterly reporting to the Board of Directors on environmental and health and safety issues.
• Coordination of company-wide reporting with EH&S management in each Division.
• Ongoing skills training and professional development programs.
• Intensive consultations with stakeholders in Madagascar.
• Regular stakeholder consultations in all operating locations.

Supply Chain Management

Responsible Procurement

• Ambatovy Local Business Initiative (ALBI) to maximize local procurement.

Climate-Related Risks & Opportunities

Transition Risks

• GHG emissions regulations in Canada and Alberta.

Opportunities

• Clean coal technology development.

Awards & Recognition

• Recognized four years in a row by Corporate Knights magazine as one of the Best 50 Corporate Citizens in Canada.
• John T. Ryan Safety Trophy awarded to Genesee mine.

Environmental Metrics

ESG Focus Areas

• Environment
• Social
• Governance

Environmental Achievements

• Implemented a new environmental management system
• Improved water management practices
• Reduced greenhouse gas emissions
• Improved tailings management

Social Achievements

• Improved employee safety
• Increased community investment
• Improved stakeholder engagement

Governance Achievements

• Established a new Sustainability Advisory Committee
• Improved transparency and disclosure

Climate Goals & Targets

Environmental Challenges

• Supply chain disruptions
• Climate change impacts
• Maintaining stakeholder trust

Mitigation Strategies

• Developed alternative sourcing strategies
• Implemented adaptation measures
• Improved communication and engagement

Supply Chain Management

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: GRI

Environmental Metrics

ESG Focus Areas

• Safety and health of employees and communities
• Environmental protection
• Stakeholder engagement
• Community benefits
• Human rights
• Ethical operations
• Economic viability

Environmental Achievements

• Achieved zero high-severity environmental incidents.
• Reduced Scope 1 and 2 greenhouse gas emissions by 4% compared to 2016.
• Moa achieved a 13% reduction in energy consumption due to a new acid plant.

Social Achievements

• Total recordable injury frequency (TRIF) decreased by 33% over three years.
• Lost time injury frequency (LTIF) decreased by 14% over three years.
• Met TRIF target of less than 0.28 injuries per 200,000 work hours.
• Signed the Catalyst Accord to increase women in leadership positions.
• Contributed over $840 million in economic benefits to host communities.
• Sherritt and its joint-venture employees reported over 6,000 volunteer hours.

Governance Achievements

• Joined the Mining Association of Canada and committed to implementing the Towards Sustainable Mining (TSM) program.
• Created new positions of Director, EHS&S and Manager, Sustainability.
• Implemented enterprise-wide standards for stakeholder engagement and community investment.

Climate Goals & Targets

Environmental Challenges

• Did not achieve LTIF target of less than 0.11 injuries per 200,000 work hours.
• Increased number of incidents in Moa JV and Energas divisions.
• Cyclone Enawo in Madagascar and Hurricane Irma in Cuba impacted operations.
• Elevated concentrations of manganese in water discharged from Ambatovy's tailings management facility.
• Theft of fuel and other materials at Ambatovy.

Mitigation Strategies

• Strengthening safety culture and implementing best-practice standards.
• Implementing MAC’s Towards Sustainable Mining initiative.
• Activating crisis management plans for major storms.
• Implementing corrective actions to address manganese issue, including building tailings beaches and installing a permanent pumping house.
• Implementing the Voluntary Principles on Security and Human Rights (VPSHRs).

Supply Chain Management

Responsible Procurement

• Buy locally, hire locally policy.
• Incorporation of anti-corruption and human rights requirements into supplier contracts.

Climate-Related Risks & Opportunities

Physical Risks

• Major storm events (hurricanes, cyclones)

Transition Risks

• Changing customer expectations around responsible supply chain.
• New climate regulations in Alberta.

Opportunities

• Growing demand for nickel and cobalt in electric vehicle batteries.

Reporting Standards

Frameworks Used: GRI Standards (Core Option)

UN Sustainable Development Goals

• Goal 3: Good Health and Well-being
• Goal 5: Gender Equality
• Goal 6: Clean Water and Sanitation
• Goal 7: Affordable and Clean Energy
• Goal 8: Decent Work and Economic Growth
• Goal 13: Climate Action
• Goal 15: Life on Land
• Goal 17: Partnerships for the Goals

Sherritt's initiatives contribute to these goals through various programs and operations.

Awards & Recognition

• United Nations’ Green Star Award
• Syncrude Award for Excellence in Sustainable Development
• Nedbank Capital Sustainable Business Award
• Corporate Knights’ Future 40 Sustainability Leaders
• ASPC awards for 2016 Sustainability Report

Environmental Metrics

ESG Focus Areas

• Safety and health of employees and communities
• Diversity and inclusion
• Stakeholder engagement
• Human rights
• Business viability
• Environmental protection
• Community benefits
• Government relations

Environmental Achievements

• Overall reduction of 12% in Scope 1 greenhouse gas emissions compared to 2017
• 12% reduction in energy consumption compared to 2017 (Oil & Gas Division)
• Completion of a seaweed intake channel barrier and floating seawater basket in Cuba to prevent debris from fouling equipment and positively impact the coastline

Social Achievements

• Improved safety performance: TRIFR and LTIFR were 1.8 and 0.3 per million work hours respectively. Three-year period TRIFR decreased by 22% and LTIFR decreased by 33%
• Oil & Gas Division in Cuba was lost time incident free in 2018 (more than 1 million work hours without an incident)
• Contributed more than $1 billion in economic benefits to host communities and countries
• Over 10,000 volunteer hours reported by Sherritt and its joint venture employees
• First significant royalties payment at Ambatovy
• Launched a multi-year effort to increase understanding of diversity challenges and opportunities, improve diversity literacy, align business processes, and develop a metrics framework.

Governance Achievements

• Implementation of Towards Sustainable Mining (TSM) program at Canadian operations
• Third-party audit of Voluntary Principles on Security and Human Rights at Fort Saskatchewan refinery (98% completion rate)
• Implementation of an enterprise-wide Tailings Management Standard
• Development of a corporate Water Standard
• Development of a minimum standard for biodiversity and land management

Climate Goals & Targets

Environmental Challenges

• Increased economic and geopolitical uncertainty impacting market conditions
• Supply chain disruptions
• High severity environmental incident at Ambatovy
• Elevated manganese concentrations in water discharged from Ambatovy's tailings management facility
• Legacy water management issue at Moa site
• Security incidents, particularly theft at Ambatovy
• Governance challenges in Madagascar
• US sanctions on Cuba

Mitigation Strategies

• Focus on reliable production and improving balance sheet strength
• Optimizing opportunities in the Cuban energy business
• Upholding global operational leadership in finished nickel production from laterites
• Improving organizational effectiveness (Operational Excellence and diversity & inclusion)
• Implementation of corrective actions per the externally reviewed Manganese Action Plan at Ambatovy
• Phased approach to developing long-term treatment options for water management at Moa
• Theft control measures and changes in security management practices at Ambatovy
• Working with Malagasy government to address governance challenges
• Ongoing engagement with US government on Cuba sanctions

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Ambatovy Local Business Initiative (ALBI) to support local businesses
• Contract clauses requiring respect for international rules on child labour
• Application of anti-corruption and human rights requirements to supply chain

Climate-Related Risks & Opportunities

Physical Risks

• Seasonal storm activity impacting Madagascar and Cuba operations

Transition Risks

• Changes in climate change regulations
• Market shifts related to electric vehicle market

Opportunities

• Growing demand for nickel and cobalt in electric vehicle batteries

Reporting Standards

Frameworks Used: GRI Standards Core option, Towards Sustainable Mining (TSM), Voluntary Principles on Security and Human Rights (VPSHR), Extractive Industries Transparency Initiative (EITI), UN Global Compact, OECD Guidelines for Multinational Enterprises

Certifications: Null

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

• Goal 3: Good Health and Well-being
• Goal 5: Gender Equality
• Goal 6: Clean Water and Sanitation
• Goal 7: Affordable and Clean Energy
• Goal 8: Decent Work and Economic Growth
• Goal 13: Climate Action
• Goal 15: Life on Land
• Goal 17: Partnerships for the Goals

Sherritt's initiatives contribute to these goals through safety programs, diversity and inclusion efforts, water management, renewable energy production, economic benefits to communities, GHG emission reductions, biodiversity conservation, and partnerships with NGOs and governments.

Sustainable Products & Innovation

• High-purity nickel and cobalt for electric vehicle batteries
• Ammonium sulphate fertilizer

Awards & Recognition

• Syncrude Award for Excellence in Sustainable Development
• Nedbank Capital Sustainable Business Award
• Corporate Knights’ Future Sustainability Leaders
• ASPC’s international report competition awards

Environmental Metrics

ESG Focus Areas

• Safety and health of employees and communities
• Environmental protection
• Stakeholder engagement
• Community benefits
• Human rights
• Responsible products
• Governance
• Diversity and inclusion

Environmental Achievements

• Maintained Scope 1 greenhouse gas emissions comparable to 2018 despite increases in production
• Zero high severity environmental incidents
• 81% reduction in hazardous waste at the Fort Site compared to 2018, and a 56% reduction at the Moa Nickel Site (overall 68% reduction)

Social Achievements

• Launched a five-year diversity and inclusion global framework
• More than $500 million in economic benefits to host communities and countries
• Continued support of UNICEF road safety program for children in Cuba
• Partnership with Trans Canada Trail on a key part of the Great Trail in Fort Saskatchewan

Governance Achievements

• Board of Directors delegated responsibility for sustainability matters to its EHS&S Committee
• Updated Human Rights and Environment, Health, Safety and Sustainability policies

Climate Goals & Targets

Environmental Challenges

• Liquidity constraints
• Volatility of commodity prices
• Geopolitical challenges
• Increase in hand-related injuries leading to a rise in TRIFR

Mitigation Strategies

• Balance sheet initiative to address liquidity constraints
• Increased employee health and safety measures to minimize COVID-19 impact
• Implementation of new standards, safety campaigns, and improvements to safety systems to address hand injuries

Supply Chain Management

Responsible Procurement

• Developing a Supplier Code of Conduct
• CAHRA assessment of Moa Joint Venture feed supplies
• Third-Party Feed Policy

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: GRI Standards (Core option)

UN Sustainable Development Goals

• Goal 3: Good Health and Well-being
• Goal 5: Gender Equality
• Goal 6: Clean Water and Sanitation
• Goal 7: Affordable and Clean Energy
• Goal 8: Decent Work and Economic Growth
• Goal 17: Partnerships for the Goals

Sherritt's operations and end products contribute to these SDGs through various initiatives, including community investment, employee well-being programs, water management, renewable energy production, economic contributions, and partnerships with NGOs.

Environmental Metrics

ESG Focus Areas

• Climate Change
• Diversity & Inclusion
• Responsible Sourcing
• Health and Safety
• Community Development

Environmental Achievements

• Overall decrease of 12% in Scope 1 GHG emissions compared to 2019 emissions, mainly due to a 24% decrease in emissions at Oil & Gas & Power (OGP).
• Decrease of 92% in non-hazardous waste at OGP compared to 2019, and a 41% reduction at the Fort Site. Overall reduction of 48% in non-hazardous waste compared to the previous year.
• Developed a climate plan that includes risk and opportunity assessments, adaptation measures, measures to reduce greenhouse gas emissions, and opportunities for innovation.

Social Achievements

• Implemented a number of additional health and safety measures designed to protect employees, contractors, suppliers and other stakeholders at its operations from COVID-19. Improved flexible work policies and expanded mental health offerings during the COVID-19 lockdowns.
• Generated more than CAD 500 million in economic benefits for host communities and countries.
• Continued to support a road safety program by UNICEF for children in Cuba, and Trans Canada Trail on the completion of a key part of the Great Trail in Fort Saskatchewan.
• Partnered with Global Affairs Canada and the Government of Cuba to co-fund a multi-year project to install renewable energy solar panels while supporting women’s leadership.
• OGP reached CAD 1 million in cumulative donations in support of Alberta Children’s Hospital.
• In Cuba, donated refrigeration equipment to several daycare centres, road maintenance equipment and roadside lights to municipalities, and a variety of equipment to local hospitals and medical clinics.

Governance Achievements

• Completed an independent OECD-aligned audit of subsidiary and Moa Joint Venture responsible sourcing policies and due diligence management systems.
• Developed a Sherritt Supplier Code of Conduct.
• Improved conformance with the OECD 5-Step Framework and with the Cobalt Industry Responsible Assessment Framework (CIRAF).

Climate Goals & Targets

Environmental Challenges

• COVID-19 pandemic significantly impacted individuals, families, and companies.
• Supply chain disruptions.
• Climate change related risks (extreme weather, regulatory changes, market shifts).

Mitigation Strategies

• Rapid and flexible response implemented to adapt business and protect employees and local communities.
• Improved flexible work policies and expanded mental health offerings during COVID-19 lockdowns.
• Developed a climate plan that includes risk and opportunity assessments, adaptation measures, measures to reduce greenhouse gas emissions, and innovation elements.
• Partnered with Cowater Global, Affairs Canada, and the Government of Cuba to co-fund a multi-year project to install renewable energy solar panels.

Supply Chain Management

Responsible Procurement

• Developed a Sherritt Supplier Code of Conduct.
• Developed a subsidiary Supplier Declaration document.
• Developed a subsidiary Grievance Standard.

Climate-Related Risks & Opportunities

Physical Risks

• Extreme weather events (floods, hurricanes, droughts)
• Changes in precipitation patterns, temperature, sea levels, and storm frequency

Transition Risks

• Regulatory developments
• Carbon pricing
• Access to capital
• Product demand variations

Opportunities

• Increasing demand for nickel and cobalt in low-carbon technologies
• Development of energy-efficient products and processes

Reporting Standards

Frameworks Used: GRI Standards (Core option), SASB, TCFD, CDP

Certifications: ISO 45001 (target for Fort Site by 2023 and Moa Nickel by 2025), ISO 14001 (target for Fort Site by 2023 and Moa Nickel by 2025)

UN Sustainable Development Goals

• SDG 7 (Affordable and Clean Energy)
• SDG 8 (Decent Work and Economic Growth)
• SDG 9 (Industry, Innovation and Infrastructure)
• SDG 13 (Climate Action)

Various initiatives contribute to these goals through renewable energy projects, job creation, infrastructure development, and climate change mitigation efforts.

Sustainable Products & Innovation

• Hydrometallurgical process for treating high-arsenic copper (zero direct carbon emissions)
• Bitumen upgrading process (increased pipeline capacity, reduced carbon emissions and slag waste)

Environmental Metrics

ESG Focus Areas

• Climate Change

Environmental Achievements

• Introduced a new internal information system for streamlined climate reporting.
• Completed an internal Recommendations Summary Report based on the 2020 Nickel Institute Life Cycle Analysis and established a Task Force for executing recommendations.
• Finalized plans for baseline energy/greenhouse gas assessments of the Power division and a life-cycle analysis for the Cobalt business in 2022.
• Finalized plans for a TCFD-aligned climate risk and opportunity assessment for the COREFCO refinery.
• Updated the climate plan to include site-specific climate risk and opportunity assessments.
• Investigated potential partnerships and joint industry initiatives for decarbonization projects.

Social Achievements

• Launched an initiative to increase the use of electric vehicles and renewables by 20% within five years at joint venture sites.
• Planning commenced for a 20 MW solar farm at the Moa Nickel Site in Cuba and work continued on plans for solar panels on the administration building. Solar panels were installed in remote camps.
• Moa Nickel Site purchased electric vehicles and equipment.

Governance Achievements

• Appointment of Chih-Ting Lo to the Board and ROC Committee due to expertise in decarbonization and climate-change management.
• Sherritt’s climate-related disclosures are reviewed using internal governance processes similar to those used for financial disclosures.

Climate Goals & Targets

Environmental Challenges

• Regulatory developments impacting operations and sales.
• Changing climate patterns affecting site operations, infrastructure, and supply routes.
• Carbon pricing creating additional costs.
• Inadequate performance against climate objectives impacting access to capital or insurance.
• Variations in commodity demand due to emerging technologies and policy changes.

Mitigation Strategies

• Active role in public policy development on carbon and regulatory issues.
• Monitoring weather conditions and modifying operating processes and emergency preparedness.
• Regular external review of asset integrity.
• Engagement with logistics and supply chain partners.
• Incorporating carbon price sensitivities into operating and business plans.
• Working with industry organizations on life-cycle analyses to assess carbon footprint and reduction opportunities.
• Launching a climate plan and ESG improvement task force.
• Maintaining strong relationships with lenders and insurers.
• Tracking and responding to downstream regulatory and technology developments.
• Working with customers to understand ESG performance.

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Collaboration with value chains to understand Scope 3 emissions

Climate-Related Risks & Opportunities

Physical Risks

• Extreme weather events (floods, wildfires, hurricanes, droughts)
• Changes in precipitation patterns, temperature, sea levels, and storm frequency

Transition Risks

• Government regulatory developments
• Carbon pricing
• Inadequate performance against climate objectives impacting access to capital

Opportunities

• Increasing demand for nickel and cobalt in clean technologies
• Opportunities to promote lower-carbon products
• Potential for carbon capture utilization and storage

Reporting Standards

Frameworks Used: TCFD

Certifications: Towards Sustainable Mining (TSM) Climate Change Protocol

Third-party Assurance: Mining Association of Canada; Alberta GHG Regulation

Sustainable Products & Innovation

• Next Generation Laterite Nickel processing
• Treatment of High-Arsenic Copper
• Metallurgical Reactor Technology – Dense Slurry Hydroprocessing (DSH)

Environmental Metrics

ESG Focus Areas

• Climate Change

Environmental Achievements

• Completed a TCFD-aligned climate risk and opportunity assessment at the Fort Site
• Integrated outcomes of the Fort Site climate risk and opportunity assessment into internal enterprise risk management frameworks
• Kicked off a baseline energy/greenhouse gas (GHG) emissions assessment of our Energas operations, completed in Q2 2023
• In conjunction with the Cobalt Institute, completed a life-cycle assessment for cobalt production
• In conjunction with the Nickel Institute, kicked off a life-cycle assessment for nickel production
• Advanced the prefeasibility assessment for a potential solar farm at Moa Nickel
• Continued to investigate a carbon capture, utilization, and storage project at the Fort Site in line with regulator and project sponsor advancements

Social Achievements

• Not disclosed

Governance Achievements

• Sherritt’s Board of Directors and executive team have advocated the need for all levels of the Corporation to begin integrating climate change risks and opportunities into our strategic planning and enterprise risk management processes

Climate Goals & Targets

Environmental Challenges

• Regulatory developments (Government regulatory developments in support of emissions reductions, battery regulations and proposed border adjustments for carbon-intensive products)
• Changing climate patterns (Extreme weather events, such as floods, wildfires, hurricanes and droughts, as well as changes in precipitation patterns, temperature, sea levels and storm frequency)
• Access to capital (Inadequate performance against climate objectives may impact our access to capital or insurance, increase the cost of financing, or lead to divestment of our shares as investors migrate away from companies with lower ESG performance)
• Product demand (Variations in commodity use from emerging technologies, the move towards renewable energy generation, a circular economy and policy changes may affect demand for our products, both positively and negatively)

Mitigation Strategies

• Playing an active and constructive role in public policy development on carbon and regulatory issues, both directly and through industry organizations
• Monitoring changing weather conditions and modifying operating processes and emergency preparedness
• Engaging with logistics and supply chain partners
• Launching a climate plan to enable us to meet our climate-related objectives and launching an ESG improvement task force
• Maintaining strong relationships with lenders and insurers and actively and transparently engaging on ESG-related issues
• Developing technologies to help the metals industry improve its ESG performance
• Tracking and responding to downstream regulatory and technology developments
• Working with customers and industry associations to understand current and planned ESG performance

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Not disclosed

Climate-Related Risks & Opportunities

Physical Risks

• Increased risk of wildfire near the site, coastal flooding at the port of Halifax and rail disruption

Transition Risks

• Increased GHG compliance costs and market share/access risks associated with the carbon intensity of our products

Opportunities

• Carbon pricing and credits
• Product demand

Reporting Standards

Frameworks Used: TCFD, TSM

Certifications: Null

Third-party Assurance: Mining Association of Canada: Towards Sustainable Mining Assurance; External GHG Regulation Assurance (Alberta, Canada); Internal Corporate Reserves, Operations and Capital Committee

UN Sustainable Development Goals

• Not disclosed

Not disclosed

Sustainable Products & Innovation

• Next-Generation Laterite Processing
• Treatment of Complex Concentrates - High-Arsenic Copper
• Dense Slurry Hydroprocessing (DSH)

Awards & Recognition

• Not disclosed

Environmental Metrics

ESG Focus Areas

• Climate Change
• Tailings Management
• Safety
• Diversity and Inclusion
• Community Relations
• Responsible Sourcing

Environmental Achievements

• No material non-compliances with local environmental regulations
• No significant environmental spills at any sites in 2023
• Energas net power generation increased 750,000 GJ while maintaining comparable emissions intensity to previous years.
• Fort Site achieved ISO 14001 (environmental management systems) certification.

Social Achievements

• Approximately CAD$1 million spent on local community investment projects in 2023
• Expanded health insurance coverage to include fertility treatments.
• Launched Queers & Allies Employee Resource Group.

Governance Achievements

• Integrated climate-change risks and opportunities into strategic planning and enterprise risk management processes.
• Fort Site achieved ISO 45001 (occupational health and safety) certification.

Climate Goals & Targets

Environmental Challenges

• Two fatalities at Moa Nickel joint venture.
• Unplanned maintenance events in Metals division.
• Oversupply of nickel to the market.
• Legacy waste liquor discharge at Moa Nickel.

Mitigation Strategies

• Detailed incident investigations and Fatality Prevention gap analysis at Moa Nickel.
• Series of safety workshops and a multi-year roadmap for safety performance.
• Strategic responses to changing market conditions.
• Investigation of further mitigation options for waste liquor discharge at Moa Nickel.

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Responsible Production and Supply Policy
• Human Rights Policy
• Mineral Supplier Code of Conduct

Climate-Related Risks & Opportunities

Physical Risks

• Not disclosed

Transition Risks

• Not disclosed

Opportunities

• Development of energy-efficient products

Reporting Standards

Frameworks Used: GRI, SASB

Certifications: ISO 14001 (Fort Site), ISO 45001 (Fort Site)

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

• 1, 3, 4, 5, 6, 7, 8, 9, 10, 12, 13, 15, 16

Goals are aligned with Sherritt's five-year sustainability goals.

Sustainable Products & Innovation

• Not disclosed

Awards & Recognition

• Not disclosed