IMAGE RESOURCES NL - Environmental & Social Information 2024

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S U S T A I N A B I L I T Y R E P O R T C Y 2 3

FOCUSED ON SUSTAINABLE PERFORMANCE

PURPOSE AND VALUES

SUSTAINABILITY PHILOSOPHY

Image Resources NL (“Image” or “the Company”) aspires to a philosophy of sustainable generation of value for its shareholders, employees and all its stakeholders in the communities in which it operates as a growing producer and supplier of critical minerals into global markets.

We view value generation as a critical component of sustainability, and we strive for continuous improvement in managing and minimising our impacts on the local areas in which we operate as well as globally. We aim to understand how our actions affect the local and global environments, local and broader communities, our stakeholders, and our industry. Our commitment to this philosophy is to ensure a sustainable future for the Company, all our stakeholders, and the world.

OUR CORE VALUES

Our core values underpin our philosophy and demonstrate our proactive approach to operations, interactions with stakeholders and the overarching delivery of Environmental, Social and Governance initiatives.

Growth Innovation Transparency Respect Accountability Growing Having flexibility and Acting with fair, Valuing the diversity Taking responsibility holistically, safely creativity to achieve honest, and and individuality of all for minimising our and sustainably our philosophy disclosed intentions peoples impacts

GROWTH

Growth is at the forefront of our ambitions and values. We seek growth holistically, safely and sustainably. We are cognisant that growth means expanding our operations and potentially our impacts, however we recognise that growth also provides opportunities through creative thinking, innovation, and automation, to mitigate or eliminate potential negative impacts to people and the planet, now and into the future.

INNOVATION

We value being flexible in adapting to changes and/or challenges, and we seek innovative solutions to seize opportunities while mitigating risks. Through the adoption of new technologies and striving to operate beyond compliance initiatives, we aim to reduce our impacts while generating sustainable value for our stakeholders.

TRANSPARENCY

We value acting with honest and fair intentions, disclosing all relevant information regarding our impacts and keeping our stakeholders appropriately informed of our impacts and actions. We endeavour to disclose our shortfalls and share our strategies for continuous improvement.

RESPECT

We value embedding respect in every facet of our business to generate mutual benefits for all stakeholders. From cohesive teams with positive leadership, to championing and supporting individuality and cultural differences, all stakeholders are respected and treated equally.

ACCOUNTABILITY

We are accountable to our stakeholders to mitigate negative impacts and generate sustainable value. This includes providing safe and healthy workplaces, striving to reduce our impacts on the environment, maintaining a social licence to operate with local communities, as well as delivering on commitments to shareholders.

CY2023 PERFORMANCE HIGHLIGHTS

Total Workforce (Average)

A$119M Total Revenue

A$35M

Project EBITDA

133,000 HMC Tonnes Sold

26% SOLAR Renewable Energy

ENVIRONMENTAL STEWARDSHIP

63ha 26% Mine rehabilitation at Of Boonanarring minesite’s Boonanarring during CY23 power was supplied by solar (CY22 – 9ha) (CY22 – 25%)

PEOPLE & WELLBEING

1.22 1.22 All-Incidence Rate Near Miss Frequency Rate Employees Employees (CY22 - 2.22) (CY22 - 5.54) 1.19 3.57 All-Incidence Rate Near Miss Frequency Rate Contractors Contractors (CY22 - 2.17) (CY22 - 2.17)

COMMUNITIES & SOCIAL PERFORMANCE

14 36.4% Local community Local workforce partners (Boonanarring)

INNOVATION & RESPONSIBLE BUSINESS

Purpose and Values	2
CY2023 Performance Highlights	4
Table of Contents	5
About this Report	6
Managing Director Message	7
About Image Resources	8
Sustainability Framework	10
Our Stakeholders	12
Materiality Process	14
Sustainability Strategy	15
Environmental Stewardship	16
Communities and Social Performance	29
People and Wellbeing	37
Innovation and Responsible Business	40
Performance Data	44
SASB Index	49
Corporate Directory	51

Reconstitution of Company-Wide Risk Committee Formal Risk Review

ABN 57 063 977 579

IMAGE RESOURCES NL | Sustainability Report CY23 5

ABOUT THIS REPORT

This is the second Sustainability Report of Image Resources NL. This report is for the 2023 calendar year (CY2023). This report discloses our approach to understanding and mitigating our impacts on material environmental, social and governance (ESG) topics. The report also formalises our sustainability philosophy; the sustainable generation of value for all our stakeholders.

The information in this report applies to Image’s business and operating activities during CY2023, and focusing primarily on the Company’s 100%-owned Boonanarring mineral sands mining and processing operation, which completed active mining and ore processing in September 2023. The reported information has been reviewed and approved by the Board of Directors.

The metrics used in this report align with the Sustainability Accounting Standards Board (SASB) Standards for Metals and Mining (2021-12). Additionally, the information provided aims to reflect our commitment to the United Nations (UN) Sustainable Development Goals (SDGs).

By reporting against these standards and frameworks, we uphold our values to formally enhance our sustainability performance and continue to transparently communicate with our stakeholders.

CONTACT INFORMATION

Address	Level 2, 1 Walker Avenue, West Perth 6005 Western Australia
Phone	+61 8 9485 2410
Email	[email protected]
Website	www.imageres.com.au

Acknowledgement of Country

Image Resources acknowledges the oldest enduring culture on the planet, the Aboriginal and Torres Strait Islander People of Australia. Particularly we acknowledge the relationship and connection of all Native Title groups where Image Resources operates within Western Australia. We pay respects to their elders past and present, and acknowledge their unbroken connection to land, seas and sky. We seek to walk together with the Traditional Owners to understand, respect and protect heritage and resources where we operate, generating value for all Australians for the future.

MANAGING DIRECTOR MESSAGE

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In CY2023, we reconstituted our Risk Committee and undertook a formal, comprehensive, company-wide risk review. These actions highlight our proactive approach to identifying and mitigating risks, ensuring that our operations remain resilient and adaptable in a rapidly changing environment.

We are also exploring innovative technologies to enhance sustainability. Notably, we are investigating the feasibility of a small-scale pumped hydro facility and collaborating with a local wind farm construction company to potentially integrate renewable wind energy into our operations. These initiatives reflect our commitment to adopting emissions reduction technologies to minimise our environmental impact.

In CY2023, Image Resources continued to advance our commitment to sustainable development, emphasising environmental stewardship, innovation, and community engagement, along with value generation for stakeholders. This summary highlights the key successes and initiatives that underscore our dedication to sustainability.

The safety and wellbeing of our workforce are paramount. In CY2023, the all-incidence rate for employees and contractors significantly improved, reflecting our commitment to providing and maintaining a safe and healthy work environment. The near miss frequency rate for employees dropped from 5.54 in CY2022 to 1.22 in CY2023, underscoring the effectiveness of our safety programs.

One of the pivotal achievements in CY2023 was the completion of 63ha of mine rehabilitation at Boonanarring, significantly exceeding previous years' efforts. This initiative demonstrates our commitment to restoring landscapes and ensuring that our mining activities have a minimal long-term impact on the environment.

Our workforce health and safety initiatives included an increase in average hours of health, safety, and emergency response training for full-time employees from 3.05 hours in CY2022 to 19.57 hours in CY2023. This investment in training ensures that our employees are well-prepared to conduct all work tasks in a safe manner.

Additionally, Image Resources made substantial strides in reducing greenhouse gas emissions. Our Scope 1 emissions dropped to 12,753 tonnes of CO2 equivalent; a 66% reduction compared to CY2022. This decline is principally attributed to only a partial year of active operations with the completion of mining and processing at Boonanarring in September 2023.

Image Resources remains committed to supporting local communities. In 2023, 36.4% of our workforce at Boonanarring was sourced locally, demonstrating our commitment to creating job opportunities within the community. Our community partnerships and support initiatives, including fee-free land access for local grazing and sponsorship of various charitable organisations, continue to generate significant social benefits.

The Boonanarring solar farm supplied approximately 26% of the site's electricity needs as renewable energy; up marginally from 25% in CY2022. This use of renewable energy not only reduces our carbon footprint but also positions Image as a leader in sustainable mining practices in the mineral sands mining industry in Australia.

We have also strengthened our cultural engagement with the Yued and Yamatji Traditional Owners, providing employment opportunities as cultural monitors and experts in heritage surveys. This collaboration ensures

that our operations respect and protect Indigenous heritage and contribute positively to local communities.

Image Resources' sustainability practices in CY2023 have yielded significant environmental, social, and economic benefits. Our commitment to reducing emissions, restoring natural landscapes, ensuring workplace health and safety, and engaging with local communities underscores our dedication to responsible and sustainable mining practices. We will continue to build on these successes, striving for continuous improvement and sustainable growth in the years ahead.

Patrick Mutz

Managing Director

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IMAGE RESOURCES NL | Sustainability Report CY23 7

6 IMAGE RESOURCES NL | Sustainability Report CY23

ABOUT IMAGE RESOURCES

Image Resources NL (ASX: IMA) is a mineral sands-focused project development and mining company. Image successfully developed and, from December 2018 through September 2023, successfully operated the 100%-owned, high-grade, zirconrich Boonanarring Project, located 80km north of Perth in the infrastructure-rich North Perth Basin in Western Australia. The Company is planning the self-funded transition of mining and processing operations to its high-grade Atlas Mineral Sands Project in CY2024, which is located 80km north of Boonanarring.

CHAPTER ONE TRANSITION TO MINING

Chapter One represents Image’s transition from advanced exploration to active miner starting in December 2018 at Boonanarring and will continue through planned mining operations at Atlas. With the completion of successful mining operations at Boonanarring in September 2023, Image is now focused on relocating its processing and mining operations to Atlas in CY2024. Chapter One also included producing only a single product of heavy mineral concentrate (HMC) and with only a single customer in China. Planned production at Atlas will also produce an HMC product for sale in China under a life-of-mine offtake agreement at market prices.

CHAPTER TWO GROWTH AND SUSTAINABILITY

Chapter Two growth and sustainability strategy was adopted in late CY2022 to continue our commitment to generating sustainable value for our stakeholders. Chapter Two ambitions include developing and operating multiple mining projects concurrently, diversifying the HMC into multiple products, and expanding marketing globally. Additionally, there's a potential for further value adding through the conversion of our lowvalue ilmenite product into synthetic rutile (SR) using a novel environmentally friendly SR production process compared to the currently used 50-year-old technology in Australia. Chapter Two strategy will commence with the next project development following the development of Atlas under Chapter One.

Growth Projects

ATLAS

Development Ready

The Atlas Project is located approximately 160km north of Perth (80km north of Boonanarring) and has ore reserves of 5.5Mt at 9.2% HM. Permitting approvals for Atlas are currently in progress. Image anticipates that both state and federal approvals will be completed in CY2024.

YANDANOOKA

Fast-tracked PFS complete, BFS underway

Due to approval delays with Atlas, the Yandanooka Project is being fasttracked to complete feasibility studies (PFS folding into a BFS) as the Project is likely to have a shorter development timeline than other projects in Image’s portfolio. It will include development of dry mining and processing operations in the Eneabba tenements area, with potential for 8-10-year mine-life.

BIDAMINNA

PFS complete, BFS underway

The Bidaminna Project is slated to be a stand-alone dredge mining operation with potential for 10-year mine-life. Bidaminna has greater environmental sensitivities than Yandanooka.

MCCALLS

(INCLUDING MINDARRA SPRINGS)

Multi-decade Project

McCalls is being assessed for development as a stand-alone hydraulic or dredge mining project with multi-decade operation potential of 50+ year mine-life.

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GERALDTON
Yandanooka
Atlas
McCalls
Bidaminna
Boonanarring
PERTH
BUNBURY
MARGARET SOUTHWEST
RIVER
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IMAGE RESOURCES NL | Sustainability Report CY23 9

8 IMAGE RESOURCES NL | Sustainability Report CY23

SUSTAINABILITY FRAMEWORK

To successfully and responsibly advance the development and operation of our projects in a sustainable manner, benefiting all stakeholders—including our shareholders, employees, and the communities in which we operate—it is imperative that we continue to implement our Sustainability Framework and strive to enhance our sustainability performance. Our four-pillar approach includes: Environmental Stewardship, People & Wellbeing, Communities & Social Performance, and Innovation & Responsible Business.

Committing to the responsible stewardship of environmental management and natural resources for current and future generations

Championing an inclusive and diverse workforce and prioritising the health, safety and wellbeing of our people

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ESG
COMMITMENTS &
REPORTING
Working with communities and
stakeholders to build genuine
relationships that protect
human rights and deliver
sustainable, economic and ethics and integrity
social benefits
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Achieving strategic goals through innovation and technology underpinned by the principles of good governance, ethics and integrity

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10 IMAGE RESOURCES NL | Sustainability Report CY23

OUR STAKEHOLDERS

Generating sustainable value for all our stakeholders is critical to our sustainable growth ambitions.

Establishing robust relationships with stakeholders is crucial for our business success. We prioritise understanding and tackling the most pertinent ESG topics to the benefit of our stakeholders.

We strive to communicate in a transparent manner with our stakeholders and to keep them informed of, and confident in, our impacts and future plans. Maintaining mutually beneficial relationships is integral to our philosophy.

We engage our stakeholders through a variety of communication channels, including in person or online meetings, site visits, formal reviews, annual meetings, ASX announcements and a variety of reports that get published on the ASX platform.

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Stakeholder Methods of Engagement Areas of Interest
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Stakeholder	Methods of Engagement		Areas of Interest
Board Members	‧Board meetings ‧Corporate Governance & Key Policies Manual ‧Audit & Risk Committee meetings	‧Remuneration and Nomination Committee meetings ‧Briefngs and direct engagement ‧Personal communication ‧Visits to sites	‧All aspects of company performance
	‧Quarterly, half-yearly and annual		‧Major developments
Investors	reporting ‧ASX Announcements	‧Annual General Meeting ‧Industry conferences	‧Operations and changes in state of afairs
	‧Website	‧Email contact via form on website	‧Details of future development
	‧Share registry		‧Financial report
			‧Employment conditions and rosters
Employees	‧Inductions ‧Pre-shift toolbox meetings	‧Site notices and email ‧Policies, procedures, and systems	‧Job security and remuneration ‧Training, development, and opportunities ‧Strategic direction of Image
			‧Safetyand wellbeingwhilst at work
			‧Procurement opportunities
Suppliers	‧Contract meetings	‧Personal communications	‧Contract management
			‧Safety programs
Indigenous People and Communities	‧Environmental Policy ‧Code of Conduct ‧Formal Review sessions ‧Cultural heritage surveys and management	‧Annual and sustainability reports ‧Personal communication – email ‧In person meetings ‧Perth ofces	‧Project updates ‧Respect for culture and protection of heritage ‧Local and regional employment and procurement opportunities
Community Groups	‧Website ‧Annual and sustainability reports ‧Environmental Policy ‧Code of Conduct	‧Health and Safety Policy ‧Personal communication – phone/ email ‧In person meetings ‧Image ofces	‧Project updates ‧Management of environmental and social impacts ‧Local and regional employment and procurement opportunities ‧Land-use agreements
	‧Development applications	‧Briefngs	‧Compliance
Government/	‧Environmental and social impact	‧Individual meetings (in person and	‧Environmental stewardship
Regulatory	assessments	online)	‧Local and regional employment and
	‧Compliance reporting	‧Site inspections	procurement
Landowner/ Lessee	‧Personal communication ‧Website ‧Negotiated agreements	‧Land access agreements ‧In person meetings	‧Project updates ‧Agricultural land use ‧Environmental stewardship ‧Land access agreements
			‧Project updates
	‧Media releases		‧ESG and fnancial performance
Media	‧Quarterly and annual reports and	‧Website	‧Leadership and innovation
	ASX announcements		‧Management of social impacts
			‧Compliance
Other Mineral Sands Company	‧Personal communication		‧Site visits for environmental stewardship

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12 IMAGE RESOURCES NL | Sustainability Report CY23

MATERIALITY PROCESS

In CY2022, we completed our first materiality assessment, providing the basis for our sustainability framework, strategy and inaugural sustainability report.

The materiality assessment process, through a series of internal and external surveys and interviews, supported the identification of material topics that are important to our business and stakeholders. The material topics, aligned to our four pillars and SASB Metals & Mining Industry Standard (2021-12), are as follows:

Sustainability Pillar	Material Topic	SASB Topic
Environmental
Environmental Stewardship	Emissions Management	Greenhouse Gas Emissions
		Energy Management
		Air Quality
	Environmental Compliance	Water Management
		Biodiversity Impacts
	Waste Management	Waste & Hazardous Materials Management
	Pollution Prevention	Tailings Storage Facilities Management
Social
People & Wellbeing	Occupation Health & Safety	Workforce Health & Safety
	Employment	Labour Relations
	Training & Education	Workforce Health & Safety
Communities & Social Performance	Human Rights & Rights of Indigenous Peoples	Security, Human Rights & Rights of Indigenous Peoples
	Community Engagement	Community Relations
Governance
Innovation & Responsible Business	Legal & Regulatory Compliance	Not specifcally identifed
	Stakeholder Engagement	Not specifcally identifed
	Board Diversity & Independence	Not specifcally identifed
	Business Ethics & Transparency	Business Ethics & Transparency
	Risk Management	Not specifcally identifed

A thorough review of the Materiality Assessment was conducted by senior management, concluding that a new assessment was not necessary for CY2023. This decision was based on the continued focus on the sustainability issues identified in the CY2022 Sustainability Report, which remain the most relevant and critical to the business and stakeholders.

We recognise that as our business continues to accelerate forwards with our growth projects, the importance of the material topics may change, and they may also be influenced by Australian mandatory sustainability reporting requirements. As such, we shall endeavour to review our materiality assessment process and material topics and make changes where deemed necessary.

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SUSTAINABILITY
STRATEGY
Our four-pillar framework continues to underpin our sustainability
strategy, enabling a continuous improvement approach. Our overarching
sustainability commitments and ambitions aligned with our material topics
reflect the spirit of many of the United Nations Sustainable Development
Goals (SDGs).
As we continue the journey of maturing our sustainability processes,
and as our monitoring and reporting systems evolve, we will expand our
goals and ambitions to include targets for material topics where they add
meaningful value.
Environmental Stewardship
We commit to responsibly managing and protecting
the flora, fauna, and biodiversity in our operational
areas to benefit current and future generations. This
involves minimising negative impacts on water and air
quality, ensuring appropriate tailings management and
disposal and land rehabilitation, and actively measuring
and reducing our carbon emissions to lower our
environmental footprint.
People & Wellbeing
To be trusted by our employees,
contractors, consultants, and the
communities in which we operate
and to be recognised for building
and maintaining a safe, clean and
healthy work environment.
SUSTAINABILITY
STRATEGY
Communities & Social Performance
We are dedicated to proactively adopting
and integrating new technologies and
innovations to advance our business
sustainability goals. This includes
enhancing worker safety and well-being,
protecting the environment, reducing
carbon emissions, maintaining our
social license to operate, and boosting
shareholder value through improved
profitability. Our efforts are guided by
strategic plans and policies that emphasise
ethical behaviour, business integrity, and
transparent governance.
Innovation & Responsible Business
We commit to build and uphold a reputation for
fostering a positive culture by upholding respect
for human rights and championing diversity, equity,
and inclusion. This involves actively engaging with
stakeholders, respecting and protecting indigenous
cultures and heritage, and contributing to sustainable
communities through local employment, donations,
and investments that offer long-lasting economic,
social, and environmental benefits.
IMAGE RESOURCES NL | Sustainability Report CY23 15
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14 IMAGE RESOURCES NL | Sustainability Report CY23

ENVIRONMENTAL STEWARDSHIP

HIGHLIGHTS

RENEWABLE ENERGY

26% Renewable energy from solar during operations at Boonanarring MINE REHABILITATION

63ha Rehabilitation at Boonanarring

PERFORMANCE SUMMARY

Image is committed to minimising any potential long-term adverse impacts of our operations on the environment. We strive to maintain compliance with our statutory compliance requirements while actively seeking ways to ensure lasting improvements on aspects of the environment, such as soil water retention by blending clayey materials into rehabilitated topsoils.

Image has proactively taken measures to minimise our carbon footprint. Notably, in CY2020, we collaborated with Sunrise Energy Group to construct and operate a 2.3MW solar farm at Boonanarring. This initiative was undertaken despite the Boonanarring Project having the capacity to meet all its electricity needs from the WA state power grid. In CY2023, approximately 26% (CY2022: 25%) of electricity requirements for Boonanarring was supplied as renewable solar energy from the solar farm, at costs slightly below grid power prices.

The use of solar power at Boonanarring provides Image Resources with green credentials and positions the Company to directly utilise renewable solar energy to offset a significant portion of its electricity requirements that would otherwise be sourced from the grid, and thereby significantly reducing our greenhouse gas emissions and carbon footprint.

Image completed the rehabilitation of an additional 63ha of mined land at Boonanarring during CY2023, bringing the total area rehabilitated and re-vegetated, concurrently with mining at Boonanarring, to approximately 85ha.

IMAGE RESOURCES NL | Sustainability Report CY23 17

ENVIRONMENTAL STEWARDSHIP (Cont)

GHG EMISSIONS

GHG emissions are recognised as the primary catalyst for the surge in global temperatures, making them the central concern of policy and regulatory efforts to combat climate change. Businesses with significant GHG footprints may face amplified hurdles in transitioning to a low-carbon economy due to mounting stakeholder pressure for emission reductions. While the adoption of Scope 3 emission reporting is still emerging, the Australian Accounting Standards Board (AASB) is introducing mandatory climate-related financial disclosures for entities that are obligated to submit financial reports under Chapter 2M of the Corporations Act 2001 and meet certain size thresholds. AASB’s Australian Sustainability Reporting Standard (ASRS) climate-related financial disclosures will be phased in over time and require reporting on climate-related risks and opportunities, strategies, risk management and metrics and targets. Image will monitor these requirements, assess for applicability and respond accordingly.

The Scope 1 emissions intensity was 0.12% for CY2023. The emissions intensity was consistent with the previous reporting periods of CY2019 (0.13%), CY2020 (0.14%) and CY2021, ranging between 0.12% to 0.14%. The CY2022 spike of intensity, 0.20%, was caused by the drop in ore grade resulting in lower HMC production to total energy consumption for mining and processing.

and exploration vehicle usage. Scope 2 emissions are indirect emissions derived from the energy purchased by Image.

Image have prioritised the impacts associated with GHG emissions and management of emissions reduction initiatives since the beginning of our maiden operations in CY2019. As we meet the corporate threshold of consuming over 200,000 GJ of energy, Image report in accordance with the National Greenhouse and Energy Reporting (NGER) scheme and are obligated to disclose our Scope 1 and Scope 2 GHG emissions.

As the Boonanarring Project completed its extraction activities in September 2023, and the operations had begun to slow leading up to this period, we have seen a significant decrease in Scope 1 emissions for CY2023. Image’s Scope 1 emissions for CY2023 were 12,753 tonnes carbon dioxide equivalent (tCO2-e), which is roughly 66% of the previous year’s reported Scope 1 emissions. Scope 2 emissions for CY2023 totalled 4,072 tCO2-e.

Scope 1 emissions are direct emissions from sources that are owned or controlled by Image Resources. These include on-site fossil fuel combustion from mining operations and head office

Scope 1 Emissions & Intensity

Despite operations winding down at the end of CY2023, Image is planning for the expansion of our operations into the future which includes investigating methods to closely manage our emission profile:

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44,245
36,792
35,164
33,811
0.20%
12,753
0.14%
0.13%
0.12% 0.12%
CY19 CY20 CY21 CY22 CY23
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Adoption of Renewable Energy Sources Investigating solar, wind, and other renewable energy sources to power our operations.

Vegetation Offsetting Initiatives Seeking to protect and conserve environmental and biodiversity values for present and future generations for projects that impact native vegetation.

Utilisation of Technologies Exploration of suitable technologies to reduce emissions.

Partnerships with Environmental

Organisations Collaborating with environmental organisations to stay at the forefront of sustainable practices and innovations.

Gross global Scope 1 emissions metric tonnes of CO2 equivalent (tCO2-e) Scope 1 Emissions intensity (tCO2-e/t HMC)

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CASE STUDIES | EMISSION REDUCTION INVESTIGATION
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Image is exploring several innovative sustainability initiatives at our Boonanarring site. One involves the possibility of a small-scale pumped hydro facility, which would use elevation differences between mined-out sections of the mine and the nearby escarpment. Renewable solar power would pump water from the mine void to a reservoir atop the escarpment, allowing it to be released through a generator for electricity production when needed. This facility could function as a hydraulic battery during peak power demand.

Additionally, Image is collaborating Lastly, the Company is researching second patent to explore additional with a local wind farm construction a novel, low-carbon emissions feedstocks. We are also beginning company to assess the feasibility pyrometallurgical processing planning for a demonstrationof installing wind turbines on our technology to convert mined scale plant to further evaluate the properties near Boonanarring, ilmenite into high-value synthetic technical and economic feasibility potentially adding another rutile. This technology uses of this process. renewable energy source to hydrogen instead of coking the area. coal, significantly reducing CO2 emissions. Image has filed a provisional patent for this technology and plans to file a

IMAGE RESOURCES NL | Sustainability Report CY23 19

18 IMAGE RESOURCES NL | Sustainability Report CY23

ENVIRONMENTAL STEWARDSHIP (Cont)

AIR QUALITY

The mining sector adds to local emissions known as 'point sources', releasing carbon monoxide, nitrogen oxides, sulphur dioxide, particulate matter, and volatile organic compounds. As per Australian regulations, Image is obligated to report air emissions of these substances under the National Environment Protection (National Pollutant Inventory) Measure 1998 due to exceeding specific thresholds for individual substances and fuel consumption.

Image primarily emits emissions from fuel combustion (mostly diesel), with minor emissions from bulk-material handling, such as dust generated during the movement of mined overburden and ore.

The table below highlights the contrasting emission scales of fuel-related compounds (such as carbon monoxide, nitrogen oxides, sulphur oxides, particulate matter <10 μm, and volatile organic compounds) and material handling-related substances (namely mercury and lead). As per the table, CY2023 was significantly lower in all recorded air emissions, due to the completion of the extractive and processing activities at Boonanarring in September 2023.

Air Emissions (tonnes)	CY19	CY20	CY21	CY22	CY23
Carbon monoxide (t)	116.42	150.17	118.8	123.84	38.84
Oxides of nitrogen (t)	285.24	369.32	302.42	309.31	104.45
Oxides of sulphur (t)	0.17	0.22	0.18	0.18	0.06
Particulate matter <10 µm (t)	18.9	24.99	19.81	20.02	7.10
Volatile organic compounds (t)	15.82	20.69	17.95	17.91	6.90
Mercury (t)	0.00013	0.00013	0.00013	0.00013	0.00
Lead (t)	0.0025	0.0025	0.0025	0.0025	0.00

Our commitment to environmental stewardship drives us to continuously improve our environmental impact management practices. By focusing on reducing pollutants through enhanced dust and air quality management, we not only meet regulatory requirements but exceed them, showcasing our dedication to being responsible environmental stewards. This proactive approach underscores our broader sustainability goals and our resolve to protect the environment.

During CY2023, Image continued to implement our Dust Management Plan and report annually on the results of dust monitoring and management of ambient air quality, as per Condition 19 of Environmental Licence (L9177/2018/1) granted to the Boonanarring Project. Monitoring is conducted per the Australian standard with a High-Volume Air Sampler (HVAS), which captures the levels of Total Suspended Particulate (TSP) once every six days, and particulate matter less than 10 microns (PM10 ) in rounds over 14 consecutive days at least 4 weeks apart. Due to the reduction in operational activities, and as per the conditions of the environmental licence, the monitoring of TSP and PM10 concluded with the completion of extraction in September 2023.

To supplement the compliance measurements of the licence conditions, Image also employs a DustTrak aerosol monitor to continuously measure emissions of particulate matter less than 10 micrometres (PM10 ). This continuous monitoring facilitates timely responses to fluctuations in PM10 concentrations, thereby enhancing our overall air quality management strategy.

ENERGY MANAGEMENT

Energy management holds significant importance within mining operations, as mining is energy intensive and energy usage impacts both Scope 1 and Scope 2 greenhouse gas (GHG) emissions. Scope 2 emissions arise from purchased electricity, while Scope 1 emissions result from on-site fuel combustion. Although mining firms have limited control over the grid's fuel composition, they can mitigate Scope 2 emissions by switching to renewable energy sources like wind and solar through direct connections.

Under the NGER scheme, Image is mandated to report energy production and consumption for all facilities under our operational control, as the Company's energy consumption has exceeded the 200,000-gigajoule threshold. Although the NGER scheme operates on a financial year basis, this report has been reconciled to a calendar year to align with Image’s annual financial reporting period.

CY2023 saw a significant reduction in energy consumption, totalling 222,834 Gigajoules (GJ). The approximate 63% decrease in energy usage from CY2022 is primarily attributed to the completion of extractive operations at Boonanarring and Image's transition into our growth phase. The solar farm located adjacent to Brand Highway provided 26% of energy requirements at Boonanarring during CY2023.

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CASE STUDY
BOONANARRING
SOLAR FARM
Investigations into
additional renewables
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As Boonanarring operations wind down and the next operations are in planning phase, discussions are ongoing about using the Boonanarring solar farm to create green fuel alternatives and using solar for future projects.

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IMAGE RESOURCES NL | Sustainability Report CY23 21

20 IMAGE RESOURCES NL | Sustainability Report CY23

ENVIRONMENTAL STEWARDSHIP (Cont)

WATER MANAGEMENT

With increasing attention on global warming and climate change, especially in Western Australia, recognised as one of the driest regions globally, freshwater accessibility is emerging as a pressing concern. Monitoring water withdrawal and consumption from water-stressed regions is crucial, serving as a key metric to assess potential adverse social and environmental consequences. These risks pose challenges for businesses competing for freshwater access amid domestic/agricultural demands.

extracted. No water was extracted from the superficial aquifer (onsite).

The Western Australian Department of Water and Environmental Regulation (DWER) defines fresh water as having less than 500 milligrams of salt per litre (mg/L). At Boonanarring, the main source of water is extracted under licence from the Yarragadee aquifer, which at approximately 1,500 mg/L of salt is considered brackish.

Approximately 0.164m³ of fresh water was extracted offsite (Bullsbrook watershed, low to medium water stress). All water (100%) was consumed at Boonanarring (region with medium to high water stress). The Aqueduct Water Risk Atlas (wri.org) was used to determine the water risk levels. These have been amended since the CY2022 Sustainability Report.

In CY2023, Image extracted a total of 815,980.164 cubic meters (m[3] ) of water from onsite sources. Of this, Image consumed a total of 815,980m[3] brackish water from the Yarragadee aquifer which represents 100% of total water

Water Extraction by Source CY2023

Water Extraction and Intensity

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2,349,574
2,219,290
1,600,471
1,497,174
7.6
8.7 9.0 815,980
7.3
5
CY19 CY20 CY21 CY22 CY23
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Total water extracted m [3]
Water extraction intensity (m [3] /t HMC)
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Brackish water withdrawn - 100%
Freshwater withdrawn - 0%
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WATER MANAGEMENT (Cont)

A portion of potable water consumption originates from the Bullsbrook watershed, sourced via the Water Corporation regional standpipe, and transported by the Bullsbrook water carriers. This water supply is categorised as having a low to medium water risk.

Daily inspections of water and slurry pipelines are conducted to detect and address leaks or pipe/flange deterioration promptly.

These include:

In-pit floor drains and sumps capture water, directing it away from active mining areas to minimise dewatering and therefore freshwater withdrawal.
Co-disposal of clay and sand into void reduces overall evaporation in solar drying cells, enhancing water recirculation through processing and reduces land disturbance.
Water-use systems designed to minimise consumption, with control and monitoring systems in place throughout the Wet Concentration Plant (WCP) and Field Preparation Plant (FPP).

In CY2023, the Yarragadee water licence was renewed to October 2028 with a reduced volume of 1.3GL/annum (from 3.0 GL/annum). The superficial dewatering licence (0.92GL/annum) was surrendered as no further dewatering was foreseeable and none undertaken during 2023. The Leederville licence (0.5875GL) is still active.

There were no incidents of noncompliance resulting in formal enforcement actions relating to water quality permits or water quality standards. A fine was received from the Department of Energy, Mines, Industry Regulation and Safety (DEMIRS) during CY2023 for a previously reported incident relating to water quality regulations from the 16th of August 2022 (an unknown volume of sediment laden water was released from G bund, washed under the Brand Hwy and onto the neighbouring property).

Process Water Dam (PWD) lined with high-density polyethylene (HPDE) for containment.
Thickener underflow pumping densities optimised to reduce the volume of water reaching solar drying ponds, while a thickener and flocculent system maximise water recovery when managing sand and clay fines.

During CY2023, Image monitored weekly water extraction (defined as consumption) from the Yarragadee aquifer and reported performance monthly, comparing it against the annual licensed volumes. Since mining commenced in December 2018, Image has actively sought methods to decrease water usage achieving success through enhancements in water recapture and recycling techniques.

Water abstraction is measured using suitable flow meters to monitor usage accurately.
Clay fines from thickener underflow are repurposed for dust suppression, reducing reliance on process water.

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22 IMAGE RESOURCES NL | Sustainability Report CY23

ENVIRONMENTAL STEWARDSHIP (Cont)

WASTE & HAZARDOUS MATERIALS MANAGEMENT

Certain activities within the mining sector have the potential to impact the environment due to the volume of waste generated, some of which may contain toxic or hazardous substances. Improper disposal of waste on-site can lead to groundwater or surface water pollution, thereby posing litigation risks and incurring high remediation costs. Inadequate management of Tailings Storage Facilities (TSFs) can pose risks of structural failure, resulting in severe reputational damage and financial losses for mining companies. Globally, TSF failures have had significant financial penalties and far-reaching impacts on lives, livelihoods, local economies, communities, and ecosystems.

Our mineral sands processing is largely based on gravity separation, and as such has minimal environmental impact when compared to other chemical processing.

Image produced 1,515,026 metric tonnes of tailings in CY2023 which represents approximately 17% of total waste.

The total weight of non-mineral waste generated was 761 metric tonnes (t), resulting in a negligible amount of the total waste produced, similar to CY2022. The non-mineral waste generated from the operations comprises general waste, recycling and onsite landfill.

In CY2023, Image produced a total of 8,860,967 metric tonnes of waste. This was significantly lower than the waste produced in CY2022; an approximate 66% reduction, due to the completion of operations at Boonanarring in the second half of the year.

Image reported no hazardous waste generation, as defined by the Hazardous Waste (Regulation of Exports and Imports) Act 1989 .

The waste intensity for CY2023 was 82.71 tonnes / tonne of HMC. While the total amount of waste produced was lower than previous years, the waste intensity remained consistent with CY2019-2021. As disclosed in the CY2022 Sustainability Report, there was a spike in waste intensity to 150%, due to additional processing of a declining grade of ore. CY2023 saw a return to consistent levels in CY2023.

Our active sites follow a waste management procedure to ensure non-mineral waste (rubbish and recyclables) is disposed of suitably, meeting regulatory requirements. This procedure guides segregation, collection, handling, transport, and disposal of waste to minimise environmental impact.

The total waste produced during CY2023 predominantly comprised mine overburden (waste rock), encompassing natural sand, clay, and rocks that overlay the mineral sands ore, necessitating removal for ore extraction (7,345,180 metric tonnes). This represents approximately 82% of the total waste produced.

During CY2023, there were no significant waste management incidents.

Waste Produced and Intensity

Waste Produced by Source 2023

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0.00859%
27,103,830
24,275,427 24,630,186 [26,717,500]
17.10%
150
8,860,967
90 89 83
82.71 82.89%
CY19 CY20 CY21 CY22 CY23
Total waste production (t) Overburden (waste rock)
Waste intensity (t waste/t HMc) Tailings Non mineral waste
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BIODIVERSITY IMPACTS

Mining operations alter landscapes by clearing vegetation and disturbing wildlife habitats, impacting biodiversity. Implementing robust environmental management practices throughout exploration, development, operations, and rehabilitation is vital to mitigate these impacts. This not only reduces public opposition to new mining projects but also simplifies permit acquisition, lowers compliance costs, minimises project delays, and improves a company's social licence to operate. With mining activities concluded in 2023, commencing the rehabilitation stage is imperative for Image to address the impacts experienced from mining.

Bidaminna Ore Reserves are within 5 kilometres of Moore River National Park, featuring a heavy mineral grade of 2.6% within probable reserves.

The Boonanarring Project primarily occurred in previously cleared pasture paddocks on freehold land, which has resulted in minimal biodiversity impacts. Image adheres to standard vegetation management practices outlined in our formal Environment Management Plan (EMP), with a focus on weed control as necessary. Additionally, monitoring of adjacent nature reserves aligns with current approvals, permits, and licences occurred during mining/processing.

Image continues to implement and refine our Environmental Management System (EMS) which includes an overarching environmental policy; a site-based EMP which describes the system and covers all environmental management requirements for the site, as well as aspect specific procedures. The EMS has been developed to be flexible and be updated for any new projects.

As a substantial landholder in the Boonanarring region, we acknowledge our obligation to rehabilitate mined areas to high standards. Moreover, we strive to enhance the local environment beyond the mining lease boundaries whenever feasible and practical.

Image has conducted assessments and found no instances of acid rock drainage or its potential occurrence at Boonanarring or associated exploration tenements. Protocols are in place to assess the potential for acid rock drainage in any new proposed development projects. This is known as Actual Acid Sulphate Soils (AASS) and Potentially Acid Sulphate Soils (PASS). This will be reported in CY2024 for Atlas and any future sites where this aspect may exist.

All proved and probable ore reserves are situated in or near sites with protected conservation status or endangered species habitat within a 5-kilometre radius. The Boonanarring Project is adjacent to conservation areas including Bartletts Well Nature Reserve and Mindarra Northwest Wetlands. As extraction is complete, the reportable grade of Heavy Mineral (HM) within these reserves is no longer applicable.

Atlas ore reserves are within five kilometres of Nambung National Park, boasting a heavy mineral grade of 10.6% within proved reserves and 2.1% within probably reserves.

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There are a number of key risks that will need to be controlled at Atlas project to ensure compliance with environmental requirements. These include:

Banksia Woodland/site rehabilitation
Clearing restrictions/exclusion zones around rare flora/heritage
Offsets strategy
Dieback management
Potential acid sulphate soils management

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24 IMAGE RESOURCES NL | Sustainability Report CY23

ENVIRONMENTAL STEWARDSHIP (Cont)

BIODIVERSITY IMPACTS (Cont)

CASE STUDY | REHABILITATION

In CY2023, Image rehabilitated 63ha of Boonanarring mine site (southernmost extent) back to paddock. All of Bund J was returned to part of the open pit void (Pit D) to enable this to occur. This greatly bolstered the amount of rehabilitation undertaken to date at the Boonanarring project (in addition to 13 ha in 2020 and 9 ha in 2022). The area was rehabilitated over three zones/dates.

This rehabilitation provided Image an opportunity to undertake a third area of rehabilitation on the site. The area rehabilitated includes Image owned land and two leased areas. This area has been the most rehab undertaken in a year and showcases rehabilitation techniques, importance of timing and to date was considered successful. Under the Mine Closure Plan, we still need to apply for DEMIRS signoff and handover back to landowners.

Landscape Goal

Objectives

Species list as per advice from local agronomist

Return area back to original condition or as close as practicable to enable future agricultural works.

Establish land shape to match original topography.
French Serradella (seed and pod)
Yellow Serradella
Conduct seeding trial to identify most effective seeding method. 24 ha of rehab was air seeded
(seed and pod)
Veldt grass
and another 24 ha was seeded using a spreader and harrow.
Annual Rygrass
Cereal Rye
Establish ground cover to minimise dust movement and erosion.
Millet and Sorghum (located in small, late seeded area)
Homogenise the rehabilitation into the surrounding land through seed species selection.

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COMMUNITIES AND SOCIAL PERFORMANCE

HIGHLIGHTS PARTNERSHIPS 14 Community partnerships

36.4% Local workforce (Boonanarring)

PERFORMANCE SUMMARY

Image remains dedicated to supporting the local community, particularly through local employment opportunities. Additionally, the Company actively engages in various community support initiatives.

We have strengthened our cultural engagement with Yued and Yamatji Traditional Owners concerning ongoing development plans for Atlas, Bidaminna, and Yandanooka projects. This includes providing employment opportunities for Traditional Owners as cultural monitors for the surveying of ground disturbance works, and as Traditional Owner experts for site avoidance or site identification field heritage surveys. This commitment extends to other Traditional Owner groups for potential project developments in WA.

To further enhance our positive impact, we operate the Image Resources Community Grants Program across multiple shires and communities.

Artist Danielle Ashwin

April 2022

This painting represents the connection to water and the story of mineral sands concentration. It represents the Boonanarring mine, Perth office and the various community groups that Image supports. It tells a story of the product transitioning from the earth, through the mine and wet plant and on to customers who create products that are shipped around the world .

Danielle Ashwin is a proud Tjupan Pinhi woman, from the North Eastern Goldfields. She grew up in the Wheatbelt, home of the Njaki Njaki Noongar people.

IMAGE RESOURCES NL | Sustainability Report CY23 29

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COMMUNITIES AND SOCIAL PERFORMANCE (Cont)

SECURITY, HUMAN RIGHTS & RIGHTS OF INDIGENOUS PEOPLES

Mining companies operating globally often encounter unique challenges in areas of conflict or with vulnerable communities. In Australia, and especially in Western Australia, this is notably Indigenous peoples. These groups, lacking adequate protection, face risks to their rights and interests. Companies seen as infringing on human or Indigenous rights can suffer legal, reputational, and financial repercussions. While international guidelines exist, such as obtaining free, prior, and informed consent from Indigenous peoples, jurisdictional laws vary, increasing regulatory risks. Some countries have enacted laws safeguarding Indigenous rights, heightening consequences for violations.

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CASE STUDY | ABORIGINAL ENGAGEMENT & HERITAGE
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Image primarily operates on the Country of the Yued Noongars. The method and approach adopted by Image in collaborating with Indigenous communities within our operational areas are pivotal for the Company's long-term sustainability.

Image Resources is focused on developing respectful and meaningful relationships with local Indigenous communities, preserving cultural heritage, creating opportunities for participation and promoting community development.

The initial step involves identifying Indigenous communities located near the mining operations, comprehensively understanding their local groups, languages, and cultural heritage. Engaging with local Indigenous organisations and leaders is crucial to grasping their needs, priorities, and aspirations.

Subsequently, developing a cultural heritage management plan in collaboration with local Indigenous communities outlines the process for identifying, assessing, and managing cultural heritage. This plan will underscore Image’s dedication to respecting and preserving the area's cultural heritage.

Establishing meaningful relationships with local Indigenous communities is essential, emphasising trust-building and demonstrating respect for the traditional landowners. Collaboration on employment, training, and enterprise development opportunities is imperative.

Creating opportunities for Indigenous participation in mining operations such as employment, training, and community development programs is pivotal. Moreover, collaborating with these communities on community development initiatives addressing social and economic needs such as education and training and health and wellbeing is vital.

Developing a monitoring and evaluation framework to gauge the effectiveness of the Indigenous engagement plan facilitates tracking progress and identifying areas for enhancement.

Maintaining ongoing engagement with local Indigenous communities ensures their voices are heard and their interests represented. This necessitates maintaining open communication lines and responding promptly and respectfully to community feedback.

Passing, repealing, and amending of Aboriginal Heritage legislation in 2023 saw a time of confusion and uncertainty for Aboriginal communities and the mining sector, especially for those working on new agreements, policies and procedures that were in line with the incoming Aboriginal Cultural Heritage Act 2021.

Throughout this time, Image that comprise Yamatji Nation are: the appropriate people. As more maintained a commitment to work Amangu, Badimia, Hutt River, exploration works occur on the collaboratively with all Aboriginal Mullewa Wadjari, Naaguja, Nhanda, tenements, it will create additional partner groups to protect and Wadjarri, Wattandee, Widi and opportunities for cultural monitoring preserve cultural heritage and Wilunyu Nhanhagardi peoples. As and relationship building with continue building effective working exploration has been conducted Yamatji. relationships sustainably. One on the tenements, Image has such new relationship that is being secured Yamatji cultural monitors established and built is that with for ground disturbance activities the Yamatji people whose Country to ensure any potential cultural Image has exploratory tenements heritage that is discovered will be on. The Traditional Owner groups properly identified and handled by

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30 IMAGE RESOURCES NL | Sustainability Report CY23

COMMUNITIES AND SOCIAL PERFORMANCE (Cont)

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SECURITY, HUMAN RIGHTS & RIGHTS OF INDIGENOUS PEOPLES (Cont)

Our focus on continual improvement has led to notable progress in achieving optimal outcomes for both stakeholders and the Company. We have established a clear outline of our engagement methods, from initial discussions to creating participation opportunities and maintaining ongoing engagement. Additionally, the policy will incorporate an internal auditing process to assess and enhance the effectiveness of this principled approach.

annually reports on modern slavery risks within our operations and supply chain, if applicable, along with the actions taken to mitigate identified risks and an evaluation of the effectiveness of those actions.

Stakeholder Management

Image has made substantial progress in formalising the Community and Human Rights Policy. This policy is currently being implemented as a fundamental component of our engagement strategy, embodying the following seven core principles for public engagement:

In June 2023, we submitted our second annual Modern Slavery Statement for CY2022. The 2021 Statement identified that the risk for modern slavery practices to exist in Image’s day-to-day business practices was very low to non-existent given the Company operates only in Western Australia in the extremely competitive mining industry. It also identified three areas of our supply chain for minor expenditure items to have some potential to harbour modern slavery practices. In CY2022, we took steps to audit Tier-1 suppliers. In CY2023, Image acquired software to further assist with the complexities of supplier audits for compliance with the Modern Slavery Act.

Careful planning and preparation
Inclusion and demographic diversity
Collaboration and shared purpose

Modern Slavery Statement

Openness and learning

Image is committed to upholding the human rights of all individuals, which includes identifying potential human rights issues within our operations and supply chain. As a company with an annual consolidated revenue surpassing AUD$100 million, Image is obligated to comply with the Australian Government’s Modern Slavery Act 2018 . This legislation mandates that Image addresses and

Transparency and trust
Impact and action
Sustained engagement and participatory culture

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32 IMAGE RESOURCES NL | Sustainability Report CY23

COMMUNITIES AND SOCIAL PERFORMANCE (Cont)

COMMUNITY RELATIONS

Due to the significant impact mining operations can exert on local environments and communities, it is imperative for companies to prioritise obtaining and maintaining a social licence to operate. Without community backing, companies face the risk of disruptions to project development and operations, such as community protests or government lobbying aimed at delaying, obstructing, or revoking development approvals. Effective and timely engagement with communities can help identify and address their concerns, minimising potential risks and ensuring the protection of community rights and interests. Crucial to this engagement is the incorporation of community relations considerations throughout all stages of the project lifecycle, including exploration, operations, project closure, and site rehabilitation.

Image actively engages with and supports the local community through a diverse range of initiatives.

The Company offers fee-free access to our land for grazing purposes, allowing a local community group to raise sheep and cattle, with profits benefiting local community groups in the Gingin area.

Additionally, Image provides support to various local community and charitable organisations, including the Lions Cancer Institute, Vinnies (CEO Sleepout), Movember, and the Happiness Co Foundation, which focuses on mental health support programs.

As of 31 March 2023, 36.4% of Image's workforce at Boonanarring resided either within the site's vicinity or within regional shires. This underscores the Company's commitment to local employment and community involvement.

Maintaining a social licence to operate is crucial for Image. Our community engagement strategies play a vital role in identifying community risks and ensuring that procedures are in place to manage the community's rights and interests. It is essential for Image to consider community relations at all stages of our project’s phases, from exploration and operation to decommissioning and rehabilitation.

Image has actively cultivated and strengthened relationships within the communities where we operate. Our organisational growth strategies have expanded our stakeholder network, fostering robust connections with stakeholders in our growth projects for mutual community and organisational advancement.

Community Partners

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CASE STUDY | IMAGE ONLINE GRANTS PROGRAM

Image Resources is committed to engaging with the local communities in which we operate and to invest in their continued social and charitable endeavours and events.

Continuing with the commitment more efficiently and thoroughly by With the success of the grants to the communities in which answering all relevant questions, program already, the online we work, the team at Image attaching pertinent documents system should see more diverse has found a more streamlined and ensuring it is received community groups applying approach for community groups by the appropriate person at and Image investing in more to apply for small grants to assist Image. Importantly, it is also a community initiatives across our with funding their events and more organised and systemised portfolio areas. charitable endeavours, the online approach to managing requests Community Grants Application from community groups allowing form. The online application form for quicker responses and funding allows community groups to apply events in a timely manner.

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34 IMAGE RESOURCES NL | Sustainability Report CY23

PEOPLE AND WELLBEING

HIGHLIGHTS

ALL INCIDENCE RATES

1.22

All-Incidence Rate (Employees) (CY2022 - 2.22)

1.19

All-Incidence Rate (Contractors) (CY2022 - 2.17)

NEAR MISS FREQUENCY RATES

1.22

Near Miss Frequency Rate (Employees) (CY2022 - 5.54)

PERFORMANCE SUMMARY

Ensuring the safety, health, and wellbeing of employees, contractors, consultants, and visitors is paramount, particularly given the potential exposure to high-risk environments in the mining industry. The combination of heavy machinery, mine structural integrity, and remote work locations can lead to injuries, including fatalities, resulting in fines, penalties, and reputational damage. Eliminating fatalities and minimising injuries are primary objectives, with a robust safety program and culture also enhancing productivity, attracting top talent, and reducing operating costs.

Open-cut mining, plant refurbishment, and exploration activities inherently pose risks to people and equipment, potentially impacting operational performance and shareholder expectations. As our operations wind down, it is imperative that we continue to prioritise safety across all aspects of our organisation, including non-operational areas. This commitment is essential for ensuring the future sustainability of Image. As we explore new ventures, assessing risks in new environments is imperative for our team's safety.

We employ skilled safety professionals, maintain robust procedures, and foster a strong safety culture to manage employee safety effectively. Our proactive approach encourages job hazard analysis, incident reporting, and continuous improvement, ensuring the wellbeing of all stakeholders and environmental protection.

Under the Work Health and Safety Act (2020) and (Mines) Regulations (2022), psychosocial hazards are a key aspect that needs to be managed. Image Resources are looking into fit-for-purpose frameworks and practical controls to complement and support existing controls (communication/ consultation, supervision, Employee Assistance Program, job descriptions, policies, incentive plans, resolution of safety issues procedure).

1.19

Near Miss Frequency Rate (Contractors) (CY2022 - 2.17)

IMAGE RESOURCES NL | Sustainability Report CY23 37

PEOPLE AND WELLBEING (Cont)

WORKFORCE HEALTH & SAFETY

Ensuring the safety, health, and wellbeing of all individuals involved in mining operations is paramount, given the inherent risks in the industry. Factors such as heavy machinery, structural concerns within mines, and remote locations can lead to injuries, fatalities, financial penalties, and reputational harm. Beyond the imperative of preventing harm, fostering a robust safety culture can enhance productivity, attract top talent, and lower operational expenses.

Image continues to uphold our • Cultivating a proactive incidentcommitment to fostering a positive safety reporting culture and conducting culture through the implementation thorough investigations to implement of a Work Health and Safety Policy corrective and preventative actions. which affirms our commitment to • Collaborating closely with workers, ensuring responsible health and other PCBUs (person conducting safety management. Through our a business or an undertaking), safety programs and procedures, we contractors, and subcontractors to encourage job hazard analysis, planning, uphold a safe work environment. and proactive incident reporting. This ongoing effort ensures the continual • Mitigating risks through the elimination enhancement of health, safety, and or, where not feasible, minimisation of wellbeing for all employees, contractors, hazards through substitution, isolation, visitors, and community members. and engineering controls to the extent

Provision of First Aid training for all site personnel
Partnership with Happiness Co
Health monitoring
Respect@Work initiatives
Participation in Safe Work Month

Workplace injuries and ill health

Mitigating risks through the elimination or, where not feasible, minimisation of hazards through substitution, isolation, and engineering controls to the extent reasonably practicable.

Image’s safety performance during operations is monitored through monthly internal area audits and Positive Performance Indicator (PPI) scoring.

Key areas of focus for Work Health & Safety (WHS) at Image Resources include:

Image recorded 0 lost time injuries (LTI) during CY2023 (2022: 1 LTI). We report total recordable injury frequency rates (TRIFR) as a lag indicator of the effectiveness of our safety programs. Our TRIFR is now reported as the number of recordable incidents per 200k hours of work, to more closely align with actual work hours per year. The 12-month rolling average TRIFR on 31 December 2023 was 2.92 (31 December 2022: 0.83). The increase in TRIFR was due to four (one Image; three contractor) Restricted Work Injuries (RWI) in 2023 compared to one contractor RWI in 2022.

• Safeguarding the work health and safety of all people at work by providing appropriate supervision, information, instruction, training and equipment.

Adherence to the WHS Act 2020 and the WHS (Mines) Regulations 2022.
Implementation of a clear and accessible mine safety management system, complemented by our WHS policy, site-specific plans, procedures, forms, and registers.

Image's commitment to health, safety, and wellbeing extends to comprehensive programs and initiatives, encompassing:

Employee Assistance Program (EAP)
Advocating for an inclusive and diverse workforce, with a strong emphasis on promoting the health and wellbeing of our personnel.
Annual flu vaccinations
Annual skin checks

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Metric CY22 CY23
All-Incidence rate - Full time employees (per 200 000 hours worked) 2.22 1.22
All-Incidence rate - Contract employees (per 200 000 hours worked) 2.17 1.19
Near miss frequency rate (NMFR) - Fulltime employees (per 200,000 hours worked) 5.54 1.22
Near miss frequency rate (NMFR) - Contract employees (per 200,000 hours worked) 2.17 3.57
Average hours of health, safety and emergency response training for full-time employees (hours) 3.05 19.57
Total reportable injury frequency rate (TRIFR) (per 200,000 hours worked) 0.83 2.92
Lost Time Injury (LTIs) 1 0
Reportable Injury 1 4
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CASE STUDY | MINE SAFETY MANAGEMENT SYSTEM

In 2023, Image worked hard to improve, fill gaps, and fully develop and implement our Mine Safety Management System (MSMS) at the Boonanarring mine as per the Work Health and Safety (WHS) (Mines) Regulations 2022 requirements.

Under the WHS (Mines) Regulations, all mine sites must have developed and implemented a MSMS by 31 March 2024. This process focused on finalising and updating the site WHS Management Plan, ensuring bowtie risk assessments undertaken at the start of the project were collated into a risk register,

risk register review, conversion of a range of flowcharts into procedures, adding health, safety and training (HST) forms to the system, document controlling and incorporating permits into the MSMS and developing a range of HST registers for key data recording. In 2024, the MSMS will move to maintenance phase for

Boonanarring mine and develop/implement phase for upcoming projects.

LABOUR RELATIONS

In mining, demanding and hazardous work settings are common, especially in remote regions. Tense labour relations may trigger strikes, disrupting production and causing financial setbacks and harm to reputation. Conversely, cultivating favourable employee relationships boosts efficiency, reduces expenses, and significantly lowers the risk of accidents and fatalities, ensuring sustainable operations and retaining staff.

Mining companies must navigate the balance between competitive labour costs and effective human resource management for sustained performance. Although Image does not have collective bargaining agreements, we actively manage employee relations, supporting their rights to voluntary association. Throughout CY2023, there were no strikes or lockouts across our operations or offices.

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38 IMAGE RESOURCES NL | Sustainability Report CY23

INNOVATION AND RESPONSIBLE BUSINESS

PERFORMANCE SUMMARY

The company is committed to adopting and applying new technologies and innovations to advance business sustainability goals, including improving worker safety, protecting the environment, reducing carbon emissions in response to climate change, maintaining a social licence to operate, and enhancing shareholder value through increased profitability. These endeavours are guided by strategic plans, policies, and principles that prioritise ethical behaviour, business integrity, and transparent governance.

Under the SASB framework, Image is obliged to report on the material topic of Business Ethics & Transparency, which is disclosed in this report. Image has implemented a robust system of control and accountability to manage corporate governance effectively. The Board is dedicated to implementing policies and procedures with transparency and integrity, striving to uphold the essence of corporate governance that aligns with Image's requirements.

HIGHLIGHTS

GOVERNANCE

Reconstitution of Risk Committee

Company-wide Risk Review

CASE STUDY | IN CY2023 IMAGE RECOGNISED THE NEED FOR A FORMAL ANTI-BRIBERY, ANTI-CORRUPTION POLICY.

Image Resources is dedicated to maintaining integrity and ethical standards in its operations. The implementation of its Anti-Bribery and Anti-Corruption Policy (ABAC Policy) is a crucial step in ensuring compliance with legal and regulatory obligations, mitigating risks, and fostering a culture of transparency and accountability.

Background

Furthermore, the Company's annual Corporate Governance Statements, as mandated by ASX-listing requirements, encompass disclosures on other pertinent governance topics such as Legal & Regulatory Compliance, Board Diversity and Independence, and Risk Management.

BUSINESS ETHICS & TRANSPARENCY

Crucial for a company's viability in the mining sector and its access to projects and funding is the maintenance of transparency and business ethics. Accordingly, under SASB guidelines, companies are required to establish robust anti-corruption and anti-bribery measures aligned with the laws of their operating jurisdictions. Breaches of these protocols can result in fines, continuous compliance expenses, and a loss of trust from stakeholders.

Image, a publicly traded company listed on the Australian Securities Exchange Limited (ASX), are obligated to adhere to the ASX Corporate Governance Principles, 4th Edition (ASX CGP). One of these principles, Recommendation 3.4, pertains to anti-bribery and corruption policies and reporting. In response, Image has developed a comprehensive Code of Conduct, encompassing both general guidelines and specific directives for Directors and Executives. These codes emphasise the disclosure of conflicts, the promotion of ethical standards, and the establishment of protocols for giving and receiving gifts.

However, given our size and developmental stage, Image has chosen not to formulate a separate anti-bribery and corruption policy. Instead, any breaches of the Code of Conduct are to be promptly reported to the Managing Director or through the Whistle-blower Policy, as appropriate. Material breaches are further escalated to the full Board for review and action.

The ABAC Policy outlines the minimum standards of conduct expected from all Company representatives, including employees, contractors, and governance committee members. The policy applies across all jurisdictions where the Company operates, ensuring a unified approach to combating bribery and corruption.

Benefits of Implementing the ABAC Policy

3. Improved Business 5. Operational Efficiency Relationships and Consistency

1. Enhanced Legal Compliance and Risk Mitigation

By adhering to the ABAC Policy, Image Resources ensures compliance with international anti-bribery and anti-corruption laws. This reduces the risk of legal actions and significant penalties. The policy sets parameters to help prevent unlawful acts, dishonest behaviour, and improper purposes, thereby safeguarding the Company from legal and financial repercussions.

By embedding the ABAC standards operationally across the Company, Image Resources ensures consistent ethical practices in all its transactions. This consistency not only improves operational efficiency but also aligns with international best practices, helping the Company avoid discrepancies and maintain high operational standards.

The policy requires thorough due diligence and proper documentation when engaging with third parties. This ensures that suppliers, vendors, and other partners adhere to the same high standards, fostering reliable and trustworthy business relationships. Clear guidelines on accepting and declaring gifts, hospitality, and donations further reinforce transparent interactions with external parties.

Conclusion

2. Strengthened Reputation and Trust

The implementation of the ABAC Policy at Image Resources NL provides substantial benefits, including enhanced legal compliance, improved reputation, stronger business relationships, increased employee accountability, and operational efficiency. By maintaining a zero-tolerance approach to bribery and corruption, Image Resources reinforces its commitment to ethical business practices, ensuring long-term success and sustainability.

4. Employee Awareness and Accountability

Implementation of the ABAC Policy demonstrates Image Resources’ commitment to ethical business practices. This commitment enhances the Company’s reputation among stakeholders, including investors, customers, and partners. A strong ethical stance builds trust and confidence, which is crucial for long-term business success and sustainability.

The ABAC Policy mandates regular training and development for all Company representatives. This training ensures that employees understand their responsibilities and the consequences of noncompliance. An informed workforce is more likely to recognise and report unethical behaviour, contributing to a culture of accountability and integrity.

IMAGE RESOURCES NL | Sustainability Report CY23 41

40 IMAGE RESOURCES NL | Sustainability Report CY23

INNOVATION AND RESPONSIBLE BUSINESS (CONT)

our Board members, aligning with our steadfast dedication to inclusivity and equality. As of 31 December 2023, the proportion of women on the Board was 17%.

and compliance. These committees play a vital role in developing systems, processes, and procedures to ensure compliance with legal, regulatory, and industry standards. Moreover, they ensure that the Company's assets and operations are managed with effective risk management systems in place.

GOVERNANCE

Image’s governance framework is detailed in our Corporate Governance and Policy Manual and the Board Charter. These documents outline the roles, responsibilities, and structure of both the Board of Directors and Managers, empowering them to fulfill their duties effectively in safeguarding the interests of shareholders and optimising value for them.

Image’s Charters and Policies

Image upholds a robust framework of charters and policies to ensure that all management and employees adhere to the utmost levels of integrity and ethical standards. The Board conducts an annual review of all policies to maintain their relevance and effectiveness.

The Board is bolstered by three committees, each governed by a Charter delineating their roles, responsibilities, and scope. Risk issues are reviewed at Board meetings and robust risk management culture is encouraged amongst employees and contractors.

Our directors possess an array of skills and experience encompassing finance, law, geology, operations, coupled with national and international experience. Recognising the value of this diverse skillset, Image also places importance on diversity in the demographic makeup of our company representatives. Consequently, Image is committed to ensuring gender diversity among

Identifying, Assessing and Managing Risks

Image's Board operates with a committee structure aimed at facilitating the oversight of performance, risk management, business expansion,

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The Board of Directors
Remuneration
Audit & Risk Hedge Investment Joint Company
& Nomination
Committee Committee Committee Secretaries
Committee
Chair Peter Thomas Robert Besley Robert Besley Peter Thomas Dennis Wilkins
Robert Besley Peter Thomas Patrick Mutz Aaron Chong Veoy Soo
Member John McEvoy
Aaron Chong Veoy Soo Winston Lee John McEvoy Ran Xu
Charters & Policies
1 Board Charter 6 Code of Conduct 11 Continuous
Disclosure Policy
2 Audit & Risk 7 Code of Conduct
Committee Charter for Directors and Executives 12 Diversity Policy
3 Remuneration & Nomination 8 Securities 13 Environmental Policy
Committee Charter Trading Policy
14 Health & Safety Policy
4 Hedge Committee Charter 9 Risk Management Policy
15 Whistle-blower Policy
5 Investment Committee 10 Shareholder
Charter Communication Policy 16 Director Independence
Questionnaire
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CASE STUDY | RECONSTITUTION OF THE AUDIT COMMITTEE

During the reporting period, effective from February 2023, the Board reconstituted the Audit Committee as the Audit & Risk Committee to carry out the responsibilities specified in the Audit Committee Charter and the Risk Management Policy, which are included in the Corporate Governance & Policies Manual.

The Audit and Risk Committee determines the Company’s ‘risk profile’ and is responsible for overseeing and approving risk management strategy and policies, internal compliance and nonfinancial internal control.

During this reporting period, the Company conducted an internal review and update of the previous year’s formal company-wide risk review, which was conducted with the assistance of KPMG.

42 IMAGE RESOURCES NL | Sustainability Report CY23

PERFORMANCE DATA

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Topic Metric CY19 CY20 CY21 CY22 CY23
Production of Metal Ores (Heavy Mineral
Concentrate) in metric tonnes (t) 177,200 107,131
Activity
Metrics Total number of employees 68 36
Percentage of contractors (%) 68 44
Gross global Scope 1 emissions metric tonnes of
33,811 44,245 35,164 36,792 12,753
CO2 equivalent (t CO2-e)
Percentage covered under emissions-limiting
GHG 0 0
regulations (%)
Emissions
Scope 1 Emissions intensity (tCO2-e/t HMC) 0.13 0.14 0.12 0.20 0.12
Gross global Scope 2 emissions metric tonnes of
8,179 4,072
CO2 equivalent (t CO2-e)
Carbon Monoxide (t) 116.42 150.17 118.8 123.84 38.84
Oxides of Nitrogen (t) 285.24 369.32 302.42 309.31 104.45
Oxides of Sulphur (t) 0.17 0.22 0.18 0.18 0.06
Air
Particulate Matter <10 μm (t) 18.9 24.99 19.81 20.02 7.10
Quality
Mercury (t) 0.00013 0.00013 0.00013 0.00013 0.00
Lead (t) 0.0025 0.0025 0.0025 0.00250 0.00
Volatile Organic Compounds (t) 15.82 20.69 17.95 17.91 6.90
Total energy consumed (GJ) 538,945 705,594 580,776 603,909 222,834
Energy
Percentage grid electricity (%) 8.65 8.16 7.78 8.13 12.63
Management
Percentage renewable (%) 0 0.7 2.41 2.69 3.43
Total fresh water withdrawn (m [3] ) 50,142 582,650 19,814 8,139 0
Percentage of fresh water withdrawn in regions of
99.6 99.98 99 98.3 0
High or Extremely High Baseline Water Stress (%)
Total fresh water consumed (m [3] ) 50,363 58,277.6 20,080 8,283 0.164
Total fresh water consumed in regions of High or
100 100 100 100 100
Extremely High Baseline Water Stress (%)
Water Number of incidents of non-compliance
0 0 0 0 0
Management associated with water quality permits
Number of incidents of non-compliance
0 0 0 1 0
associated with water quality standards
Number of incidents of non-compliance
1 1 2 1 0
associated with water quality regulations
Total water extracted (m [3] ) 2,349,574 2,219,290 1,497,174 1,600,471 815,980
Water extraction intensity (m [3] /t HMC) 8.7 7.3 5.0 9.0 7.6
Total weight of non-mineral waste generated (t) 857.7 776.5 815 914 761
Total weight of tailings produced (t) 2,757,704 3,296,917 3,112,506 3,097,530 1,515,026
Total weight of waste rock generated (t) 21,516,865 23,806,136 21,516,865 23,619,056 7,345,180
Waste &
Total weight of hazardous waste generated (t) 0 0 0 0 0
Hazardous
Materials Total weight of hazardous waste recycled (t) 0 0 0 0.18 0
Management Number of significant incidents associated with
0 0 0 0 0
hazardous materials and waste management
Total Waste produced (t) 24,275,427 27,103,830 24,630,186 26,717,500 8,860,967
Waste intensity (t waste/t HMC) 90 89 83 150 83
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Topic Metric CY19 CY20 CY21 CY22 CY23
Percentage of mine sites where acid rock drainage is:
Predicted to occur (%) 0 0 0 0 0
Actively Mitigated (%) 0 0 0 0 0
Under treatment or remediation (%) 0 0 0 0 0
Percentage of Proved Ore Reserves in or near sites with protected
conservation status or endangered species habitat (%) 100 [1] 100 [2]
Percentage of Probable Ore Reserves in or near sites with protected
conservation status or endangered species habitat (%) 100 [3] 100 [4 ]
Grade of Heavy Mineral (HM) as percentage within ore of the Sites with
Biodiversity proved reserves in or near sites with protected conservation status or 8.4 N/A
Impacts endangered species habitat (Boonanarring) (%)
Grade of Heavy Mineral (HM) as percentage within ore of the Sites with
proved reserves in or near sites with protected conservation status or
endangered species habitat (Atlas) (%) 10.6 10.6
Grade of Heavy Mineral (HM) as percentage within ore of the Sites with
probable reserves in or near sites with protected conservation status or
endangered species habitat (Boonanarring) (%) 4.7 N/A
Grade of Heavy Mineral (HM) as percentage within ore of the Sites with
probable reserves in or near sites with protected conservation status or
endangered species habitat (Atlas) (%) 2.1 2.1
Grade of Heavy Mineral (HM) as percentage within ore of the Sites with
probable reserves in or near sites with protected conservation status or
endangered species habitat (Bidaminna) (%) 2.6 2.6
Percentage of Proved or probable Ore Reserves in or near Indigenous
100 100
Land (%)
Grade of Heavy Mineral (HM) as percentage within ore of the Sites with
8.40 N/A
Proved Ore Reserves in or near Indigenous Land (Boonanarring) (%)
Security,
Human Grade of Heavy Mineral (HM) as percentage within ore of the Sites with
10.60 10.60
Rights & proved Ore Reserves in or near Indigenous Land (Atlas) (%)
Rights of Grade of Heavy Mineral (HM) as percentage within ore of the Sites with
4.70 N/A
Indigenous probable Ore Reserves in or near Indigenous Land (Boonanarring) (%)
Peoples
Grade of Heavy Mineral (HM) as percentage within ore of the Sites with
2.10 2.10
probable Ore Reserves in or near Indigenous Land (Atlas) (%)
Grade of Heavy Mineral (HM) as percentage within ore of the Sites with
2.60 2.60
probable Ore Reserves in or near Indigenous Land (Bidaminna) (%)
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1 Percentage of proved reserves in or near sites with protected conservation status or endangered species habitat (within 5km of Boonanarring and Atlas)

2 Percentage of proved reserves in or near sites with protected conservation status or endangered species habitat (within 5km of Atlas)

3 Percentage of probable reserves in or near sites with protected conservation status or endangered species habitat (within 5km of Boonanarring and Atlas)

4 Percentage of probable reserves in or near sites with protected conservation status or endangered species habitat (within 5km of Atlas and Bidaminna)

IMAGE RESOURCES NL | Sustainability Report CY23 45

44 IMAGE RESOURCES NL | Sustainability Report CY23

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PERFORMANCE DATA (CONT)

PERFO	RMANCE DATA(CONT)
Topic	Metric CY19 CY20 CY21 CY22 CY23
Community Relations	Number and duration of non-technical delays 0 0
Labour Relations	Number and duration of strikes and lockouts 0 0
Workforce Health & Safety	MSHA All-Incidence rate – Full-time employees (per 200 000 hours worked) 2.22 1.22
	MSHA All-Incidence rate – Contract employees (per 200 000 hours worked) 2.17 1.19
	Fatality Rate – Full-time employees 0.00 0
	Fatality rate - contract employees 0.00 0
	Near miss frequency rate (NMFR) – Full-time employees 5.54 1.22
	Near miss frequency rate (NMFR) – Contract employees 2.17 3.57
	Average hours of health, safety and emergency response training for full-time employees (hours) 3.05 19.57
	Total reportable injury frequency rate (TRIFR) (per million hours worked) 2.24 0.83 2.92
	Lost Time Injury (LTIs) 2 1 0 1 0
	Reportable Injury 6 1 5 1 4
Business Ethics & Transparency	Production in countries that have the 20 lowest rankings in Transparency International’s Corruption Perception Index 0 0

Tailings storage facility inventory table	Site specifc EPRP	Yes
	Mitigation measures description	NEEDED
	Mitigation measures	Yes
	Material fndings description	N/A
	Material fndings	No
	Date of most recent independent technical review	29/4/2021
	Consequence classifcation	Low
	Current amount of tailings stored (metric tons)	750,723
	Maximum permitted storage capacity (metric tons)	829,263
	Construction method	Other
	Operational status	Inactive
	Ownership status	Owner
	Location	Boonanarring
	Facility name	Solar Drying Cells
	Metric	Tailings storage facility inventory

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IMAGE RESOURCES NL | Sustainability Report CY23 47
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46 IMAGE RESOURCES NL | Sustainability Report CY23

PERFORMANCE DATA (CONT)

SASB INDEX

Tailings storage facilities management disclosure table 2024

Topic Metric	Trigger Action Response
Tailings storage facilities management Summary of tailings management systems and governance structure used to monitor and maintain the stability of tailings storage facilities	Normal Conditions Solar cells’ wall integrity is checked weekly by Quarry Manager Maintenance of walls as required
	Solar cells in use Solar cells’ freeboard is checked daily by Process Superintendent If freeboard >1m no action required If freeboard <1m deposition is moved to a diferent cell
	Pipelines visual integrity and leak assessment checked daily by Process Superintendent Control, contain and cleanup, fx any leaks
	Autumn Site drains capacity is checked prior to wet season by Mining Superintendent/ Environmental Drains are dug out before wet season
	Waste dump base perimeter drains are checked prior to wet season Waste dump base perimeter drains are dug out before wet season

If freeboard >1m no action required Solar cells’ freeboard is If freeboard <1m pump is placed in solar cell Rainy conditions checked daily by Process and water is pumped to Superintendent alternative cell, process plant or used for dust suppression Site drains capacity are Drains are dug out as checked daily by Area required Any incidents are Supervisor reported and investigated

Business Ethics

Metric Approach & Transparency Tailings storage Approach to The Emergency Preparedness and Response Plan has been developed in consultation facilities development with Image’s management, supervisors, employees, contractors and emergency management of Emergency services personnel within the Shire of Gingin. It defines the site incident response plans Preparedness and for emergency situations, which may occur on or off site. Response Plans (EPRPs) for tailings This plan has been prepared to assist personnel to prepare for and manage a major storage facilities incident at the Boonanarring Mine site. Where relevant, this plan complies with the requirements of AS/NZS 3745:2010 emergency control organisations for buildings, structures and workplaces.

SASB Topic	SASB Code SASB Metric	Report Section Page Number
Greenhouse Gas Emissions	EM-MM- 110a.1 Gross global Scope 1 emissions, percentage covered under emissions- limiting regulations	GHG Emissions 18
		Performance Data Scorecard Note: no emissions are covered under emissions limiting regulations 44
	EM-MM- 110a.2 Discussion of long-term and short-term strategy or plan to manage Scope 1 emissions, emissions reduction targets, and an analysis of performance against those targets	GHG Emissions 18,19
Air Quality	EM-MM- 120a.1 Air emissions of the following pollutants: (1) CO, (2) NOx (excluding N2O), (3) SOx, (4) particulate matter (PM10), (5) mercury (Hg), (6) lead (Pb), and (7) volatile organic compounds (VOCs)	Air Quality 20
		Performance Data Scorecard 44
Energy Management	EM-MM- 130a.1 (1) Total energy consumed, (2) percentage grid electricity, (3) percentage renewable	Energy Management 21
		Performance Data Scorecard 44
Water Management	EM-MM- 140a.1 1) Total fresh water withdrawn and (2) total fresh water consumed, percentage of each in regions with High or Extremely High Baseline Water Stress	Water Management 22
		Performance Data Scorecard 44
	EM-MM- 140a.2 Number of incidents of non-compliance associated with water quality permits, standards, and regulations	Water Management 23
		Performance Data Scorecard 44
Waste & Hazardous Materials Management	EM-MM- 150a.4 Total weight of non-mineral waste generated	Waste & Hazardous Materials Management 24
		Performance Data Scorecard 44
	EM-MM- 150a.5 Total weight of tailings produced	Waste & Hazardous Materials Management 24
		Performance Data Scorecard 44
	EM-MM- 150a.6 Total weight of waste rock generated	Waste & Hazardous Materials Management 24
		Performance Data Scorecard 44
	EM-MM- 150a.7 Total weight of hazardous waste generated	Waste & Hazardous Materials Management 24
		Performance Data Scorecard 44
	EM-MM- 150a.8 Total weight of hazardous waste recycled	Waste & Hazardous Materials Management 24
		Performance Data Scorecard 44
	EM-MM- 150a.9 Number of signifcant incidents associated with hazardous materials and waste management	Waste & Hazardous Materials Management 24
		Performance Data Scorecard 44
	EM-MM- 150a.10 Description of waste and hazardous materials management policies and procedures for active and inactive operations	Waste & Hazardous Materials Management 24
		Performance Data Scorecard 44

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SASB INDEX (CONT)

SASB Topic	SASB Code SASB Metric	Report Section Page Number
Biodiversity Impacts	EM-MM- 160a.1 Description of environmental management policies and practices for active sites	Biodiversity Impacts 25
	EM-MM- 160a.2 Percentage of mine sites where acid rock drainage is: (1) predicted to occur, (2) actively mitigated, and (3) under treatment or remediation	Biodiversity Impacts 25
		Performance Data Scorecard 45
	EM-MM- 160a.3 Percentage of (1) proved and (2) probable reserves in or near sites with protected conservation status or endangered species habitat	Biodiversity Impacts 25
		Performance Data Scorecard 45
Security, Human Rights & Rights of Indigenous Peoples	EM-MM- 210a.2 Percentage of (1) proved and (2) probable reserves in or near indigenous land	Performance Data Scorecard 45
	EM-MM- 210a.3 Discussion of engagement processes and due diligence practices with respect to human rights, indigenous rights, and operation in areas of confict	Security, Human Rights & Rights of Indigenous Peoples 30
Community Relations	EM-MM- 210b.1 Discussion of process to manage risks and opportunities associated with community rights and interests	Our Stakeholders 13
		Community Relations 32,34,35
	EM-MM- 210b.2 Number and duration of non-technical delays	Performance Scorecard 46
Labour Practices	EM-MM- 310a.1 Percentage of active workforce covered under collective bargaining agreements, broken down by U.S. and foreign employees	Labour Practices 39
		Performance Scorecard 46
	EM-MM- 310a.2 Number and duration of strikes and lockouts	Labour Practices 39
		Performance Scorecard 46
Workforce Health and Safety	EM-MM- 320a.1 (1) MSHA all-incidence rate, (2) fatality rate, (3) near miss frequency rate (NMFR) and (4) average hours of health, safety, and emergency response training for (a) full-time employees and (b) contract employees	Workforce Health and Safety 38
		Performance Scorecard 46
Business Ethics & Transparency	EM-MM- 510a.1 Description of the management system for prevention of corruption and bribery throughout the value chain	Business Ethics & Transparency 40
	EM-MM- 510a.2 Production in countries that have the 20 lowest rankings in Transparency International’s Corruption Perception Index	Performance Scorecard 46
Tailings Storage Facilities Management	EM-MM- 540a.1 Tailings storage facility inventory table: (1) facility name, (2) location, (3) ownership status, (4) operational status, (5) construction method, (6) maximum permitted storage capacity, (7) current amount of tailings stored, (8) consequence classifcation, (9) date of most recent independent technical review, (10) material fndings, (11) mitigation measures, (12) site-specifc EPRP	Tailings storage facility inventory table 47
	EM-MM- 540a.2 Summary of tailings management systems and governance structure used to monitor and maintain the stability of tailings storage facilities	Tailings storage facilities management disclosure table 2024 48
	EM-MM- 540a.3 Approach to development of Emergency Preparedness and Response Plans (EPRPs) for tailings storage facilities	Tailings storage facilities management disclosure table 2024 48
Activity Metrics	EM-MM- 000.A Production of (1) metal ores and (2) fnished metal products	Activity Metrics 44
	EM-MM- 000.B Total number of employees, percentage contractors	Activity Metrics 44

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CORPORATE DIRECTORY

Directors

Mr Robert Besley | Non-Executive Chair Mr Patrick Mutz | Managing Director

Company Secretary

Mr Dennis Wilkins (DWCorporate Pty Ltd) Mr John McEvoy

Principal Place of Business & Registered Office

Level 2

1 Walker Avenue West Perth WA 6005

Contact Details

t +61 8 9485 2410 e [email protected]

www.imageres.com.au

Australian Business Number

Auditors

ABN: 57 063 977 579

Elderton Audit Pty Ltd Level 2

267 St Georges Terrace Perth WA 6000

Share Registry

Automic Pty Ltd

t +61 8 6324 2900

Level 5

126 Phillip Street, Sydney NSW 2000

Stock Exchange

Australian Securities Exchange (ASX) ASX Code - IMA (Fully paid shares)

t 1300 288 664 (within Australia) t +61 2 9698 5414 (International) e [email protected] www.automicgroup.com.au

Issued Capital

1,081,242,100 fully paid ordinary shares (as of 31 December 2023)

IMAGE RESOURCES NL | Sustainability Report CY23 51

50 IMAGE RESOURCES NL | Sustainability Report CY23

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www.imageres.com.au

AI assistant

IMAGE RESOURCES NL — Environmental & Social Information 2024

65117_rns_2024-10-10_004205b8-83c5-4393-a8b4-c2d6c843d544.pdf

S U S T A I N A B I L I T Y R E P O R T C Y 2 3

FOCUSED ON SUSTAINABLE PERFORMANCE

PURPOSE AND VALUES

SUSTAINABILITY PHILOSOPHY

OUR CORE VALUES

GROWTH

INNOVATION

TRANSPARENCY

RESPECT

ACCOUNTABILITY

CY2023 PERFORMANCE HIGHLIGHTS

TABLE OF CONTENTS

ABOUT THIS REPORT

CONTACT INFORMATION

Acknowledgement of Country

MANAGING DIRECTOR MESSAGE

Patrick Mutz

ABOUT IMAGE RESOURCES

CHAPTER ONE TRANSITION TO MINING

CHAPTER TWO GROWTH AND SUSTAINABILITY

Growth Projects

ATLAS

YANDANOOKA

BIDAMINNA

MCCALLS

(INCLUDING MINDARRA SPRINGS)

SUSTAINABILITY FRAMEWORK

OUR STAKEHOLDERS

MATERIALITY PROCESS

HIGHLIGHTS

PERFORMANCE SUMMARY

ENVIRONMENTAL STEWARDSHIP (Cont)

GHG EMISSIONS

Scope 1 Emissions & Intensity

Partnerships with Environmental

ENVIRONMENTAL STEWARDSHIP (Cont)

AIR QUALITY

ENERGY MANAGEMENT

ENVIRONMENTAL STEWARDSHIP (Cont)

WATER MANAGEMENT

Water Extraction by Source CY2023

Water Extraction and Intensity

WATER MANAGEMENT (Cont)

These include:

ENVIRONMENTAL STEWARDSHIP (Cont)

WASTE & HAZARDOUS MATERIALS MANAGEMENT

Waste Produced and Intensity

Waste Produced by Source 2023

BIODIVERSITY IMPACTS

ENVIRONMENTAL STEWARDSHIP (Cont)

BIODIVERSITY IMPACTS (Cont)

CASE STUDY | REHABILITATION

Landscape Goal

Objectives

COMMUNITIES AND SOCIAL PERFORMANCE

PERFORMANCE SUMMARY

April 2022

COMMUNITIES AND SOCIAL PERFORMANCE (Cont)

SECURITY, HUMAN RIGHTS & RIGHTS OF INDIGENOUS PEOPLES

COMMUNITIES AND SOCIAL PERFORMANCE (Cont)

SECURITY, HUMAN RIGHTS & RIGHTS OF INDIGENOUS PEOPLES (Cont)

Stakeholder Management

Modern Slavery Statement

COMMUNITIES AND SOCIAL PERFORMANCE (Cont)

COMMUNITY RELATIONS

Community Partners

CASE STUDY | IMAGE ONLINE GRANTS PROGRAM

PEOPLE AND WELLBEING

PERFORMANCE SUMMARY

PEOPLE AND WELLBEING (Cont)

WORKFORCE HEALTH & SAFETY

Workplace injuries and ill health

CASE STUDY | MINE SAFETY MANAGEMENT SYSTEM

LABOUR RELATIONS

INNOVATION AND RESPONSIBLE BUSINESS

PERFORMANCE SUMMARY

HIGHLIGHTS

IMAGE RESOURCES NL Environmental & Social Information 2024