Bellevue Gold : 2022 SUSTAINABILITY REPORT

Contents

Sustainability Report 2022

Environmental

Social

Governance

Appendix

Bellevue Gold's inaugural 2020 Sustainability Report was one of the first Sustainability Reports issued by an ASX-listed company, pre-production and pre-revenue. This 2022 Sustainability Report outlines a clear pathway to becoming Australia's first 'Green and Gold' miner, with the strong ambition to achieve net zero emissions by 2026. At Bellevue Gold, sustainability is embedded in our vision, our purpose and objective, as well as our PACE core values, which stand for Passion, Accountability, Care and Excellence.

This report conveys the work that has been done over the last 24 months in advancing environmental, social and governance standards at Bellevue Gold, while setting the platform to create a high performing and highly profitable gold production company. The Company has a clear pathway to reaching net zero emissions by 2026, an embedded culture of diversity and inclusion and advanced reporting standards for a development company.

Our ability to achieve these key ESG goals, including the 2026 net zero greenhouse gas emission target, will be determined by what we are doing today. Our ability to incorporate far-reaching and long-term sustainability measures into the design and construction of the Project is paramount to achieving our sustainable aspirations.

A key stage in developing the mine was the recent signing of a Native Title Agreement (NTA) with the Tjiwarl Aboriginal Corporation as the holder on trust for the Tjiwarl Native Title Holders, being the Native Title rights and interest holders and the Traditional Owners of the land, which hosts the Bellevue Gold Project in Western Australia's North-eastern Goldfields. The NTA formalises Bellevue Gold's commitment to Tjiwarl Aboriginal Corporation and the Tjiwarl Native Title Holders of the land on which the Company operates.

A Project Update was released in June 2022, demonstrating that the Bellevue Gold Project is a globally significant development asset.

The Bellevue Gold Project (Project) is forecast to be one of Australia's top 20 gold mines by production and is on track to be one of the most profitable high grade gold mines in the country, with a workforce that is one of the leaders in the mining sector for gender diversity. The Project is set to inject more than $3.0b of economic value add, predominantly into the Australian economy over the first 10 years of the Project, via payment of salaries, goods and services, royalties, taxes, donations and community investment.

Due to the strategic focus on carbon mitigation over the last two years, the Company has already significantly reduced the Project's forecasted greenhouse gas emissions through the planned off-grid hybrid renewable power station, which is forecast to deliver up to 80% renewable energy, coupled with the roadmap to net zero emissions that will deliver a measurable positive benefit to society, whilst minimising our impact on

the environment.

Emissions and climate change are not our only focus, as we have also completed initiatives and have plans in the areas of wellness, mental health, water management, and governance, and are taking steps to address modern slavery.

The Company continues to embrace the concept of shared value. Through our approach to sustainability, Bellevue Gold is striving to make its approach to environment, social and governance (ESG) a competitive advantage.

In early 2022, the Company released an updated Sustainability Policy, and a new Environmental Policy, a Human Rights Policy, and a Climate Change Policy. This was an important step for Bellevue Gold as the Company aspires to be a sector leader in our approach towards sustainability.

The Board and management are united in the view that implementing sustainable practices and actions are fundamental to the strategic direction of the Company. In early 2022 the Company created the Chief Sustainability Officer role, which is incorporated into the Executive Management Team, embedding the importance of sustainability matters to the business.

Our 2021 AGM requested shareholder approval for issuing performance rights to Executive Directors linked to our ambition to reach net zero greenhouse gas emissions for our Scope 1 and Scope 2 emissions for the Bellevue Gold Project by 2026. The resolution was overwhelmingly supported by shareholders. This incentive has now been rolled out to all Bellevue Gold employees, creating a direct alignment between employee remuneration and this important sustainability outcome.

The ambition of achieving net zero emissions by 2026 puts Bellevue Gold at the forefront of decarbonisation amongst mining companies. Achieving net zero by 2026 is an ambitious goal - and we are up for the challenge.

This initiative is supported by the Traditional Owners, encouraged by Governments, championed by our employees and endorsed by our shareholders.

Additionally, as fund managers and asset owners increasingly seek to decarbonise their investment portfolios, they will have to make

investment decisions on which gold companies they hold - which is why investing in Bellevue Gold is the ideal investment for the planet, people, and profit.

We believe taking direct action based on science and within our mine life is the way to lead the sector to reduce emissions and this differentiates Bellevue Gold from its peers.

Fundamentally, we are already seeing a tangible benefit in our approach to sustainability in an increased ability to attract a skilled workforce that wants to work for the Company and is aligned to our aspirational goal of becoming a net zero emission mine by 2026.

Kevin Tomlinson

Non-Executive Chairman

Stephen Parsons

Managing Director

Sustainability Report 2022

Environmental

Social

Governance

Appendix