Health and Safety Safety remained a cornerstone of Saloro’s operational performance throughout FY2025, with the site recording material progress in embedding a stronger safety culture since its acquisition by EQR in January 2024. The transition period brought an intensified focus on aligning Spanish operations with EQR’s Group-wide standards, supported by increased training, procedural reviews, and a proactive approach to hazard identification. Across the year, Total Recordable Incidents (TRI) were reduced significantly to 9 in CY2024, down from 16 in CY2023, demonstrating the positive impact of Group-led safety initiatives and the adoption of best practices shared across both operations. This outcome reflects not only stronger compliance but also the cultural shift toward accountability and safe behaviours at every level of the workforce. In the second half of the Financial Year, safety training intensified with 62 sessions delivered, focusing particularly on equipment isolation procedures during maintenance activities. The introduction of the ‘Step Back Take 5’ Job Safety Environment Analysis (JSEA) midyear proved particularly effective, quickly becoming a routine tool used by employees across all shifts. Its uptake, supported by regular procedural reviews and monitoring, has reinforced risk awareness and proactive engagement in day-to-day tasks. By early 2025, the adoption of hazard assessments accelerated, with 1,641 Take 5s completed— more than double the 765 completed in Q2—with March alone 173% above the six-month average. While there was a modest increase in the Lost Time Injury Frequency Rate (LTIFR) during the quarter, the rate remained well below Spanish mining industry benchmarks. Additionally, 23 employees successfully completed a two-part firefighting training course, combining theoretical learning with practical exercises in smoke-filled environments. In Q4, engagement continued to strengthen, evidenced by a 44% increase in Step Back Take 5 hazard assessments (rising from 1,730 in Q3 to 2,486 in Q4). Training initiatives remained a priority, with eight chemical product safety sessions and five inductions for new employees conducted during the quarter. This Financial Year also saw heightened monitoring, including 16,195 alcohol tests and 54 drug tests, underscoring Saloro’s zero-tolerance approach to impairment risks, with all non-negative cases managed in strict accordance with Company policy. Although the number of Lost Time Injuries (LTIs) rose to 23 in Q4 (up from 18 in Q3), management is confident that the steady rise in hazard reporting, training participation, and staff engagement will underpin sustained improvements in safety outcomes into FY2026. 14 training courses undertaken 16,249 fit to work test conducted (Drug & Alcohol) 10 measurements of Respirable Silica per Year 1 noise monitoring per year 1,348 Job Safety analysis (Take 5) 12-months Rolling Frequency Rate Graph for Saloro per million working hours. EQ Resources Limited Annual Report 2025 41
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