Aeris Annual Report 2022

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BIODIVERSITY AND LAND Objective: Planning and delivering positive environment, economic and social legacy from discovery to closure. DELIVERY AGAINST FY2022 COMMITMENTS Investigate design for rehabilitation at Tailing Storage Facility (TSF1) and Tailings Dam 4 (TD4) at Cracow DISTURBANCE AND RESTORATION At the end of FY2022, our operating disturbance footprint was 222 hectares at Cracow and 730 hectares at Tritton, equating to 13.2% and 14% of total land area under Aeris management. Our current operations at Cracow and Tritton are underground mines which have a minimal disturbance footprint limited to tailings storage landforms, processing and services areas and mine infrastructure areas (MIA) resulting in the landscape remaining largely untouched. Both Cracow and Tritton operations host historical mining areas and landforms as legacy areas to rehabilitate. In this regard, Cracow has progressed rehabilitation and land restoration across 12 hectares, which is 5.2% of disturbed land to date, and Tritton is in the process of rehabilitating 146.9 hectares which is 20% of disturbed land. TAILINGS MANAGEMENT During FY2022 Cracow commissioned its new tailings storage facility, TSF2. In addition to this new facility, Cracow has a number of decommissioned trailing facilities which are in various stages of closure. Cracow is currently undertaking revegetation trials to test various cover designs as part of progressive rehabilitation of its decommissioned tailings facilities. The plant has multiple sustainable design elements with the system setup on a closed loop. The desalinated brine water is applied and then captured and pumped back onto the leach pad, with solar power generating the energy for the pump. The trial is currently small scale, with testing for wider application. In FY2022, the trial was well underway, with the site environment team learning much about the chemistry and the operation of sprays, rain guards and pumps. Early indications after the first year are promising. The water draining from the trial pad shows a clear improvement in water pH with reducing acidity after interactions. The process is also capable of recovering remnant copper which historical leach methods had previously left behind. WORKING WITH NATURAL MATERIALS FOR SUSTAINABLE REVEGETATION Rehabilitation is a process of restoration of the landscape to establish stable, sustainable vegetation and soils fit for purpose for many years. At Tritton we are trialling three different types of rehabilitation methods to explore options of how best to revegetate tailings storage landform walls in the savannah and semi-arid landscape of central NSW with native biodiversity. AERIS ANNUAL REPORT 2022 At Tritton, we use a single storage facility which is lifted over time. We are currently trialling a range of revegetation techniques ahead of rehabilitation management plans. All tailings storage facilities at both operations underwent annual engineering inspections by an independent specialist in FY2022, with no major issues raised. LEACH PAD REHABILITATION TRIALS In FY2021, Tritton began a trial to treat the historical leach pad using an innovative approach of applying desalination brine water onto the leach pad to neutralise legacy acid rock drainage occurring in the landforms and improve groundwater outcomes. Because there are so many different components to achieving healthy growth and each situation varies, rehabilitation trials involve healthy curiosity from our environment professionals and an adaptive approach. In this instance, we’re trialling rates of natural restoration with periodic protection from wildlife, use of fallen logs and branches with rough surfaces to create growing spaces, and shallow burrows to capture rainfall and provide spaces where native seeds can sprout. Over the coming years, we will continue to trial, learn and adapt our revegetation methods and maximise healthy biodiversity for the region. 30
MINIMAL FOOTPRINT DESIGN Aeris has progressed three new mining areas over the past year. Each are active examples of minimal footprint design: 1. Aeris progressed work on the underground Avoca Tank development project within the Tritton Copper Operations footprint. Avoca Tank is accessed via a historical pit with all waste rock contained within the pit, eliminating the need for additional disturbances. The main access road to the mine is built to a minimum footprint and follows a safe, gently winding track that was designed to preserve native trees and vegetation and protect cultural heritage in the area. 2. Tritton Copper Operations also commenced production at the Budgerygar deposit in FY2022, demonstrating another opportunity for new underground mining without any additional surface impact. 3. At Cracow, access to the Roses Pride orebody was conceived by previous owners as an open pit design, but the Aeris technical teams have redesigned it as an underground mine, which has a lower impact on the landscape. This redesign is an example of our sustainable principle of ‘good for business, good for others’ and dramatically reduces the impact to our landscape, along with associated permitting and cost optimisation outcomes. OUTLOOK AND PLAN Undertake benchmark biodiversity surveys for all sites. Progressing rehabilitation plans for all operations. Biodiversity offset is included in all new mines development. It is achieved through a variety of mechanisms that best suit the individual project. Tritton is to develop a concept for how to best establish biodiversity for all future projects in a coordinated solution that is effective and viable in the very long term. DIVERSITY AND INCLUSION Objective: Building more equal, diverse, fair and inclusive workplaces which align to the diversity of our community. DELIVERY AGAINST FY2022 COMMITMENTS Undertake companywide engagement survey (Completed) Focus on talent and succession (ready for delivery) Improve diversity specifically gender balance and indigenous participation (Completed) Record indigenous participation in our workforce (On target) GENDER DIVERSITY INCREASED We recognise and value individual differences that allow full workforce participation whilst always ensuring equal access to opportunities and resources. Throughout FY2022, gender diversity increased by 5% across Aeris, taking our total female representation to 17% (up from 12% in FY2021). COMPANY WIDE CULTURE AND ENGAGEMENT SURVEY In FY2022, Aeris undertook its first company-wide culture and engagement survey with participation from 63% of the workforce. This included 84% of the corporate office, 73% at Cracow Gold Operations and 54% at Tritton Copper Operations ADVANCING AERIS 31
Page 1 and 2: Advancing Aeris 2022 Annual Report
Page 3 and 4: Contents 2022 HIGHLIGHTS IV EXECUTI
Page 5 and 6: Executive Chairman’s Letter To ou
Page 7 and 8: SECTION 1: FINANCIAL RESULTS During
Page 9 and 10: COVID-19 IMPACT The global COVID-19
Page 11 and 12: AVOCA TANK DEVELOPMENT The Avoca Ta
Page 13 and 14: EXPLORATION In FY2022, $13.5 millio
Page 15 and 16: MINERAL RESOURCE FOR THE CONSTELLAT
Page 17 and 18: CRACOW GOLD OPERATIONS The Cracow G
Page 19 and 20: SOUTHERN VEIN FIELD EXPLORATION Lim
Page 21 and 22: ADVANCING AERIS 17
Page 23 and 24: Jaguar Locations Map ADVANCING AERI
Page 25 and 26: STOCKMAN PROJECT The Stockman Proje
Page 27 and 28: ADVANCING AERIS 23
Page 29 and 30: MINERAL RESOURCE ESTIMATES The 2022
Page 31 and 32: SUMMARY OF COMPETENT PERSONS FOR 20
Page 33: WHAT DOES SUSTAINABILITY MEAN TO AE
Page 37 and 38: CARBON AND CLIMATE CHANGE Objective
Page 39 and 40: TRADITIONAL CUSTODIANS We acknowled
Page 41 and 42: INJURY RATES The total recordable i
Page 43 and 44: The Directors present their report,
Page 45 and 46: NAME, EXPERIENCE AND OTHER DIRECTOR
Page 47 and 48: SIGNIFICANT CHANGES IN THE STATE OF
Page 49 and 50: EXPLORATION The Tritton tenement pa
Page 51 and 52: EXPLORATION Since Aeris took owners
Page 53 and 54: FINANCIAL REVIEW During the financi
Page 55 and 56: MATERIAL BUSINESS RISKS Aeris prepa
Page 57 and 58: OPERATIONAL AND COST RISK The Compa
Page 59 and 60: SIGNIFICANT EVENTS AFTER THE BALANC
Page 61 and 62: NON-AUDIT SERVICES The Company may
Page 63 and 64: The Directors are pleased to presen
Page 65 and 66: REMUNERATION FRAMEWORK EXECUTIVE RE
Page 67 and 68: LONG TERM INCENTIVES (LTI) Previous
Page 69 and 70: Vesting Share price The number of P
Page 71 and 72: COMPANY PERFORMANCE AND REMUNERATIO
Page 73 and 74: DETAILS OF REMUNERATION Details of
Page 75 and 76: SHARE-BASED COMPENSATION Details of
Page 77 and 78: The Remuneration Committee consider
Page 79 and 80: Auditor’s Independence Declaratio
Page 81 and 82: Aeris Resources Limited Contents 30
Page 83 and 84: Aeris Resources Limited Consolidate
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Aeris Resources Limited Consolidate
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Aeris Resources Limited Notes to th
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Independent auditor’s report To t
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● Due to fluctuations in profit,
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Other information The directors are
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ADVANCING AERIS 135
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HOLDING DISTRIBUTION HOLDINGS RANGE
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ADVANCING AERIS 139
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GLOSSARY $ or A$ Australian dollar
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DIRECTORS ANDRE LABUSCHAGNE ROBERT
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Aeris Annual Report 2022

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