Environment

Protecting and supporting the environment that Serabi operates in is a key consideration for all operational decisions.

Responsible environmental stewardship with:

• Small footprint from underground mines with no conventional tailing’s dams
• Zero activity in primary rain forest
• Continuous monitoring of air and water quality
• Maximising recycling of water and waste materials
• Ongoing remediation of sites degraded by artisanal mining activity
• Monitoring of biodiversity and on-site nursery for cultivation of indigenous plants and trees
• 52% of waste recycled or repurposed

Greenhouse Gas Emissions remain well below industry average with Scope 1+2 emissions of 0.53t CO2 equivalent per ounce of gold produced in 2024, compared with 0.42t CO2 e/oz in 2023 an increase of 27% year-on-year. This is a result of the increased activity at the Coringa Mine and due to the need to increase the use of diesel generators at the Palito mine during 2024 as a result of the unstable power supply from the grid at Palito.

Environmental Stewardship

Protecting the environment is fundamental to Serabi’s operations and embedded in how we design and operate our mines. Our approach follows the mitigation hierarchy: avoid, minimize, restore, and, as a last resort, compensate. This is reflected in our focus on efficiency and selectivity, using only what is necessary and minimizing disturbance.

Our high-grade underground mining methods reduce surface impact, while narrow-vein mining and ore sorting limit inputs and waste generation. Degraded areas are progressively restored through reforestation. Tailings are managed through a two-step process that reduces water use, with water returned to the plant and dried material dry-stacked in a dedicated area.

This resource-efficient approach extends across the business, guiding procurement and operations. We prioritize reducing inputs, extending asset life, repairing where possible, and applying circular economy principles. Waste is segregated at source, with reuse prioritized before recycling and disposal.

Local sourcing is also a priority, supporting regional suppliers, reducing transport distances and emissions, and strengthening local value chains.

Beyond managing our own footprint, we contribute to improved regional outcomes by working with communities and suppliers to protect and restore ecosystems. In a region where activities such as informal mining, agribusiness, and logging place pressure on forests, water, and soils, our sites often retain higher levels of native vegetation and biodiversity, acting as refuges for wildlife and biodiversity.

Allocation of environmental monitoring stations

Serabi has a nursery in which it grows native trees for rehabilitating deforested areas, including areas licensed for suppression by the Company.

During 2024, a programme of reforestation around the Palito Complex has been undertaken with the planting of 331 native trees grown in Serabi’s own nursery. Restoration of exploration drill sites has been ongoing throughout the year using hydro-seeding of native grasses on the impacted areas.

Serabi aims to maximise the amount of process plant water it recycles to minimise its freshwater demand. In total, 46% of process water was recycled during 2024, up from 24% during 2023 following modifications in the process plant. The overall water usage, however, increased by almost 49% from 270,000m3 in 2023 to 403,013m3 in 2024.

In addition, the Company has a policy of recycling as much waste material as possible, achieving a level of 65% during the year compared with 73% in 2023.