Health and Safety The transition to an Owner-Operator model at Mt Carbine in FY2025 brought a rapid increase in both workforce numbers and total manhours worked. Despite this growth, overall safety performance strengthened, underpinned by enhanced planning, stricter compliance systems, and a deeper safety culture across site operations. Safety engagement initiatives expanded significantly through the year. Proactive monitoring and reporting were strengthened by Job Safety & Environmental Analysis (JSEA) reviews, detailed pre-start briefings, and a strong emphasis on personal accountability in hazard management. Worker participation rose markedly, with “Take 5” risk assessments increasing from an average of 550 a month in FY2024 to over 1,500 average per month, with over 17,000 recorded throughout the year, from 6,700 recorded last financial year – a 154% improvement underscoring a growing culture of hazard awareness and ownership. Operational oversight also deepened. Alcohol and drug testing remained central to Mt Carbine’s zero-tolerance policy, with an average of over 1,600 breath-analysis tests per month and regular drug screens. All non-negative results were detected and managed strictly in line with Company policy. Training and procedural development were a further focus. Across FY2025, twenty-nine safety procedures were either newly introduced or formally reviewed. Training highlights included in-house machinery operation courses, site-wide Explosives Awareness sessions, Safe Handling and Transport of Explosives training, and re-inductions for all personnel with more than two years of service. These programs ensured the workforce remained well-prepared to manage the operational changes brought by the shift to owneroperator status and the increasing scale of activities. Communication also advanced, with weekly “lessons learned” bulletins from Resources Safety & Health Queensland (RSHQ) circulated to all staff, monthly toolbox meetings led by Foremen introduced with rotating safety focus points, and continuous consultation with the Site Safety and Health Representative (SSHR) to maintain alignment between management and the workforce. By the close of FY2025, Mt Carbine had reduced recordable incidents from nine in Q3 to six in Q4, a 33% quarter-on-quarter improvement. This outcome highlights the maturity of safety systems at site and the effectiveness of embedding safety culture as a shared responsibility. Mt Carbine Mine enters FY2026 with a strengthened safety culture, robust compliance systems, and a workforce actively engaged in hazard management—providing a strong foundation for continued operational growth. 45 training courses undertaken ~20,000 fit to work test conducted (Drug & Alcohol) 17,115 Job Safety Analysis As QLD mining statistics report other metrics (ie. SAFR & HPIFR) using LTIFR Mining Industry average for Spain as benchmark for continuity between operations. 12-months Rolling Frequency Rate Graph for Mt Carbine per million working hours. 88 Verification of Competencies 5 Job Safety analysis (Take 5) +8.95% Hours Worked on Site YoY EQ Resources Limited Annual Report 2025 25
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