EQ Resources Limited Annual Report 2021

Injury frequency rates continue to improve as shown in the Figure above. The rolling 12-month Lost Time Injury Frequency Rate (“LTIFR”) has been affected by 3 Lost Time Injuries over the year (one in March and two in June). Total Injury Recordable Frequency Rates (“TIRFR”) have halved since the corresponding period in the previous year. This is a result of management focus on proactive activities such as a positive reporting culture, Safety Resets, Toolbox Talks, development and improvement of the Safety Management System and increased focus on the quantity and quality of risk management tools such as Job Safety Analysis and “Take 5” tools. Impress Solutions have been engaged as the Continuous Improvement Leader and for external validation process on site for the Safety Management System. A total by quarter of the proactive safety measures completed on site is summarised below. This includes: − 21 First Aid and CPR tickets − 12 G1/G8/G9 Supervisory Tickets − 5 Lifting and Doggers Tickets − 13 HR (Heavy Vehicle Licence) − 1 Radiation Safety Ticket − 2 Health and Safety Representatives Tickets − 1 Rehabilitation and Return to Work Course − 6 Spill Kit Tickets − 3 Wheeled Loader Tickets The Company is committed to upskilling its employees to make sure it has a safe and productive operation. Indicator Count 95 100 105 110 115 120 125 Q1 2021 FY Q2 2021 FY Q3 2021 FY Q4 2021 FY Proactive Safety Measures per Quarter - Mt Carbine Finally, the Company is pleased that there has been continued engagement with the Mines Department regarding the reopening of the historic decline on site and is set to reopen the portal for inspection and identification of a work program around the safety management of the underground and working toward exploration and bulk sampling of the underground resource. Employee Training Due to the local workforce having limited experience working in the mining industry the Company has embarked on an extensive training program over the last year. Mt Carbine Tailings Dam There were no reportable environmental incidents recorded in the period. A major achievement for the Company over the period was the receipt of approval for the handling of up to 1 million tonnes of material from the waste rock stockpile. This is a significant step forward in maintaining environmental compliance and meeting planned production targets for the operation. As part of the BFS work underway, the Company is in the process of updating and consolidating the Environmental Processes and Management Plans in line with the Company’s forward planning. Over the period the Company has continued its sponsorship and involvement with the Mitchell River Catchment Group for management of invasive species in the area of the mine lease, and supporting social activities within its community. Mt Carbine Tailings Dam Environment EQ Resources Limited Annual Report 2021 5