Syrah Resources’ Commitment to Human Rights and Sustainable Development in Mozambique

Syrah Resources (“Syrah” or “Company”), and its Mozambican subsidiary Twigg Exploration and Mining Limitada, is strongly committed to shared benefit, local development, national employment, and positive contribution to the Balama District, Cabo Delgado Province and Mozambique. The Company has reached a key milestone in ESG performance at its Balama Graphite Operation, becoming the first graphite project globally to achieve Initiative for Responsible Mining Assurance 50 level of performance. The rating reflects progress across responsible mining practices, workforce development, environmental sustainability, and community engagement.

The operation also maintains ISO 45001 and ISO 14001 certifications, with regular on-site audits. Independent assessments have been conducted by Mozambique’s Ministries of Mineral Resources, Labour and Environment, the US International Development Finance Corporation (DFC), IRMA’s auditing body SCS Global Services, and other international partners. Ongoing monitoring is in place, including 18-month audit cycles under IRMA and annual assessments linked to DFC financing.

From the beginning of operations to March 2025, Syrah has contributed US$542 million to the Mozambican economy, including over US$4 million in direct community investment. As of March 2025, more than 45,000 people which includes employees, contractors and residents—have been positively impacted by the project. The workforce is 97% Mozambican, with nearly half from eight host communities around Balama.

The Company has also constructed and continues to support the Balama Professional Training Centre under a formal agreement with Mozambique’s Institute for Vocational Training and Labour Studies (IFPELAC). Nearly 500 local community members have completed training at the centre over the last five years.

Through its Local Development Agreement, Syrah has backed a range of social infrastructure projects. These include:

• Three solar-powered schools supporting over 1,000 students

• Boreholes for clean water access across all eight host communities

• Road and dam rehabilitation

• Expanded electricity and water infrastructure

• A new community meeting hall and wholesale market

Human rights due diligence has been integrated across the operation, supply chain, and security services. In 2023, the Company completed a third-party Human Rights Saliency Assessment to identify priority risks and strengthen controls. Governance commitments are supported by an annual Modern Slavery Statement, ISO certifications, and structured grievance mechanisms for employees, contractors, and community members.

A formal Company Level Agreement (CLA) is in place with the Internal Union Committee, reviewed and approved by the Mozambique Department of Labour. The agreement outlines employment conditions and supports collective bargaining and freedom of association. In complex labour matters, such as the illegal industrial action in 2022, independent legal oversight is used to ensure alignment with national labour law.

While global market volatility has impacted Syrah’s financial performance, the Company continues to work with national and provincial authorities to address challenges affecting Balama operations. Engagement with Government and community stakeholders remains ongoing as Syrah progresses long-term development efforts in the region.