Announcement PDF ENVIRONMENT, SOCIAL & GOVERNANCE REPORT 2023X ASX RELEASE 11 October 2023 ASX Code: COD Sustainability Report 2023 Coda initiates stand-alone ESG Reporting in line with commitment to high levels of environmental and social governance reporting. Coda Minerals Limited (ASX: COD, “Coda”, or “the Company”) is pleased to release its maiden Sustainability Report which summarises the Company’s approach to environmental, social and governance matters. Coda’s inaugural Sustainability Report sets the baseline from which future sustainability reporting will be grown through regular updates. Coda recognises the importance of transparent and respectful relationships with stakeholders, of which Sustainability reporting is a key part of maintaining such stakeholder relationships. The Sustainability Report has been prepared to provide our stakeholders with an understanding of Coda’s approach to sustainability as well as create a communication platform to keep stakeholders informed on achievements as well as updates to sustainability activities. The standalone Sustainability Report is a part of Coda’s annual reporting and should be read in conjunction with the Company’s 2023 annual report for a comprehensive overview of Coda’s activities. Commenting on the Sustainability Report, Coda’s CEO Chris Stevens said: “I am pleased to present to you Coda’s inaugural Sustainability Report covering the financial year 2023 representing the commencement of the Company’s sustainability journey from which the Company’s environmental, social and governance foundations have been built and will be expanded upon. “Coda’s approach to sustainability involves unwavering respect for the environment, ensuring the welfare of employees, contractors and the communities at our operations, as well as maintaining elevated levels of governance. The 2023 Sustainability Report represents the commencement of transparently presenting the Company’s sustainability performance as well as providing key stakeholders with an understanding of Coda’s sustainability approach whilst providing them with an opportunity to engage with the Company on Sustainability.” 6 Altona Street West Perth Western Australia, 6005 E: info@codaminerals.com ABN 49 625 763 957 ELIZABETH CREEK This announcement has been authorised for release by the Board of Coda Minerals Ltd Further Information: Chris Stevens Chief Executive Officer Coda Minerals Limited info@codaminerals.com Media: Nicholas Read Read Corporate nicholas@readcorporate.com.au 6 Altona Street West Perth Western Australia, 6005 E: info@codaminerals.com ABN 49 625 763 957 Governance Governance GOVERNING PURPOSE ELIZABETH CREEK Setting Purpose CODE: GO-01-C1 TYPE: Partial Disclosure STATUS: Verified LAST UPDATED 30 June 2023 Coda Minerals Limited ( ASX: COD, “Coda”, or “the Company”) is an Australian exploration company focused on the discovery and development of minerals that are leveraged to the global energy transformation through electrification and the adoption of renewable energy technologies. Coda’s mission is to deliver benefits to all stakeholders in fair and equitable proportions. This includes creating value for shareholders through operating sustainably by having unwavering respect for the environment in which the Company operates, ensuring the welfare of employees, contractors and the communities at our operations, as well as maintaining elevated levels of governance. Coda upholds this philosophy by sustainably progressing and developing its flagship asset; the 100%-owned Elizabeth Creek Copper-Cobalt Project located in the world-class Olympic Copper Province, near BHP's Olympic Dam and Carrapateena mines, with the aim of providing material benefits to all stakeholders. The Company's Scoping Study, released in March 2023, showed an economically robust project with a 14-year mine life that is currently planned to produce approximately 25,000 tonnes of copper cathode and 1,000 tonnes of cobalt sulphate, delivering material benefits to all stakeholders. The project has an average AISC of approximately $2.19/lb of Cu and an estimated pre-tax NPV8 of approximately $570M. Coda remains steadfast in sustainably advancing exploration for both the sediment-hosted structures and Iron Oxide Copper Gold (“IOCG ”) prospects in the area that have the potential to deliver material future benefits to all stakeholders. The Company will progress these objectives by operating in a manner that ensures a focus on and respect for the health and safety of all people working on our sites along with investing in leading, motivating and training employees. Coda aims to build effective relationships with all stakeholders, including the traditional owners of the land upon which the Company operates, local communities, supply networks, contractors, and customers. Coda also demonstrates an unwavering commitment to minimising the environmental impact of the company's activities, considering factors such as biodiversity, natural ecosystems, and the company's carbon footprint as part of its operating strategy. See Also: Strategy and Commodities , Board Charter , Annual Report 6 Altona Street West Perth Western Australia, 6005 E: info@codaminerals.com ABN 49 625 763 957 QUALITY OF GOVERNING BODY Governance Body Composition ELIZABETH CREEK CODE: GO-02-C1 TYPE: Partial Disclosure STATUS: Verified LAST UPDATED 30 June 2023 Coda’s Board of Directors has established governance processes that are structured for effective risk management to enable the delivery of the Company’s objectives. Coda’s governance processes are aligned with the ASX Corporate Governance Council 4th Edition Corporate Governance Principles and Recommendations. Coda has adopted a Corporate Governance Framework which provides the written terms of reference for the Company’s corporate governance duties. Coda’s Corporate Governance Framework and Board Charter sets out the Board’s role and responsibilities, composition, structure and membership requirements. The Board is ultimately responsible for the overall operation and stewardship of the Company and, in particular, for the long-term growth and profitability of the Company, the strategies, policies and financial objectives of the Company, as well as monitoring the implementation of those policies, strategies and financial objectives. Together with the Constitution, a number of charters and polices have been adopted and governance subcommittees have been established, including an Audit & Risk Committee and a Nomination & Remuneration Committee, to support the Board in fulfilling its responsibilities with the highest standard of corporate governance. The Company has five Board members, including a Non-Executive Chair, an Executive Director who is also the Chief Executive Officer (“CEO”) and three NonExecutive Directors. The company has a female Company Secretary. Board Member KF. Jones A. Marshall C. Moorhead P. Hallam C. Stevens Role Non-Executive Chairperson Non-Executive Director Non-Executive Director Non-Executive Director Executive Director & CEO Audit & Risk Nomination & Remuneration Coda’s board of directors strongly believes in the benefit of an independent, diverse and socially inclusive Board, however, recognises that its current Board composition does not represent all of these. The Company believes that the current composition of the Board provides an appropriate range of qualifications, skills, and requisite expertise relevant to the Company’s current operations. In particular, the Board has skillsets appropriate to progressing an asset from earlystage exploration to commercial production. The Board will focus on increasing diversity through future hires as the Company grows. The Board members' skills, competencies and experience are set out on the Company's website. The Board’s skill matrix is currently under review to include considerations of Environment, Social and Governance (“ESG”) specific competencies. See Also: Board of Directors , Board Charter , Audit Policy, Diversity, Disclosure Report 6 Altona Street West Perth Western Australia, 6005 E: info@codaminerals.com ABN 49 625 763 957 STAKEHOLDER MANAGEMENT Material Issues Impacting Stakeholders ELIZABETH CREEK CODE: GO-03-C1 TYPE: Full Disclosure STATUS: Verified LAST UPDATED 30 June 2023 Coda is committed to building strong, effective and long-lasting relationships with all stakeholders through transparent and effective communication. This allows for early recognition along with mutual understanding and mitigation of potential risks or concerns that affect both the Company and all stakeholders. The Company’s stakeholders, include but are not limited to Traditional Owners, Government, investors, shareholders, market participants, employees, suppliers, financiers, creditors, regulatory authorities, industry associations, local and the wider community. Coda has adopted project level engagement principles and strategies that have been applied to its Elizabeth Copper-Cobalt Project, which are applicable to all current and future projects. They are as follows: Stakeholder Engagement Principles: Coda’s core engagement strategy principles include early consultation and engagement, open and transparent communication, fostering collaboration and welcoming feedback and incorporating community and stakeholder considerations into the design and implementation of the Company’s projects. Targeted Community and Engagement Strategy: Coda will commence stakeholder consultations as early as possible on the understanding that tenure will be granted to projects. Coda will work with the local groups, including agriculture, Government, and Traditional Owners to identify exclusion areas with respect to the Company’s projects and minimise impact to these areas through project design. Ongoing Community and Stakeholder Engagement: Coda will continue to engage with relevant stakeholders on matters associated with the Company’s projects to ensure stakeholder concerns are addressed and potential impacts are managed. The Stakeholder Engagement Register forms part of Coda’s Environmental Management System (“EMS”) and is routinely updated following stakeholder consultation. See Also: Shareholder Communications , Investors, Communications Policy, Continuous Disclosure Policy 6 Altona Street West Perth Western Australia, 6005 E: info@codaminerals.com ABN 49 625 763 957 ETHICAL BEHAVIOUR Anti-corruption Practices ELIZABETH CREEK CODE: GO-04-C1 TYPE: Full Disclosure STATUS: Verified LAST UPDATED 30 June 2023 Coda Minerals is committed to instilling and continually reinforcing a culture of acting lawfully, ethically and responsibly throughout the Company. This is reflected in values enforced in Coda’s Code of Conduct and Anti-Bribery and Corruption Policy. The Code of Conduct and Anti Bribery & Corruption policies seeks to ensure employees understand their obligations under the Corporations Act 2001 (Cth) (Corporations Act), the ASX Listing Rules and ASX Corporate Governance framework. The standards outlined in these policies go beyond mere compliance with laws and regulations. They embrace values which are essential to the Company's continued success and involve acting with honesty, integrity and in a manner that is consistent with the reasonable expectations of investors in the broader community. It includes being a 'good corporate citizen', by respecting the human rights of its employees, creating a safe and non-discriminatory workplace, dealing honestly and fairly with suppliers and customers; and acting responsibly towards the environment. It is mandatory as part of onboarding for all employees and contractors to review the Code of Conduct which includes: Section 2 - The Company’s Business Ethics. This section relates specifically to Anti-bribery and Corruption practices and what would be deemed as being unethical and classed as a breach of policy. A full copy of the Anti-Bribery and Corruption Policy is available on the company website. The Company will provide training sessions as required to assist employees’ understanding and management of Bribery and Corruption, as well as Code of Conduct Policies. Should any changes or updates be made the company will provide additional training sessions to update employees on any changes to the policy. There have been zero corruption-related incidents during the last financial year. See Also: Anti-Bribery and Corruption Policy, Code of Conduct , Whistleblower Policy 6 Altona Street West Perth Western Australia, 6005 E: info@codaminerals.com ABN 49 625 763 957 ETHICAL BEHAVIOUR Mechanisms to Protect Ethical Behaviour ELIZABETH CREEK CODE: GO-04-C2 TYPE: Verified STATUS: Verified LAST UPDATED 30 June 2023 Coda is committed to promoting and supporting a culture of corporate compliance and ethical behaviour. Coda is an inclusive workplace and the Company encourages employees (being any Director, secretary, officer, employee, secondee or contractor of the Company) to raise any concerns and report instances of Reportable Conduct where there are reasonable grounds to support such action, without fear of intimidation, disadvantage or reprisal. Coda’s Whistleblower Policy is available on the Coda website which outlines mechanisms to report, and procedures and protections that apply to Whistleblowers. Employees and non-employees can report and seek advice from the designated Whistleblower Officers, which include the Chair, CEO/Executive Director and Company Secretary. Any or all of the above Whistleblower Officers may undertake the responsibilities of the Whistleblower Officer in respect of an instance of Reportable Conduct unless the Reportable Conduct involves a Whistleblower Officer, in which case that Whistleblower Officer will be excluded from participating as a Whistleblower Officer in relation to that Reportable Conduct. Reports will be kept confidential to the extent possible, subject to legal and regulatory requirements. Reports can be made anonymously if required by sending written reports directly to a Whistleblower Officer. See Also: Whistleblower Policy , Code of Conduct 6 Altona Street West Perth Western Australia, 6005 E: info@codaminerals.com ABN 49 625 763 957 RISK AND OPPORTUNITY OVERSIGHT Integrating Risk and Opportunity Into Business Process ELIZABETH CREEK CODE: GO-05-C1 TYPE: Partial Disclosure STATUS: Verified LAST UPDATED 30 June 2023 The nature of the Company’s business in exploration and development has material exposure to risk. Risk recognition and management are viewed by Coda as integral to its objectives of creating and maintaining shareholder value, and to the successful execution of the Company's strategies. The Board is responsible for risk oversight, as well as management and internal control of the processes by which risk is considered for both ongoing and prospective operations. Coda has an Audit & Risk Committee which assists the Board in identifying and managing risks as well as ensuring compliance with relevant laws, regulations, standards and best-practice. Coda places great importance on social responsibility, sustainability, and responsible business practices. The Company takes a proactive approach to manage all risks, including its ESG risks, by regularly assessing and mitigating these risks in accordance with its values and risk management framework. In order to properly identify and develop strategies and actions to manage business risks, the Company has put in place a business risk management framework which is based on the AS/NZS ISO 31000:2009 and ISO/IEC 27005:2018 risk management standards. Coda conducts companywide risk reviews annually, as a minimum, governed by the Company’s risk assessment process. This risk review and company level Risk Register is reported to the Audit & Risk Committee. The Company continues to review and evolve its Risk Register to identify, monitor, manage and mitigate both enterprise level risks, that affect the viability of the Company as a whole, as well as operational and functional level risks, that are inherent in the ongoing day-to-day activities of the Company. See Also: Risk Management Policy , Audit and Risk Committee, Board Charter 6 Altona Street West Perth Western Australia, 6005 E: info@codaminerals.com ABN 49 625 763 957 Planet CLIMATE CHANGE ELIZABETH CREEK GHG Emissions CODE: PL-01-C1 TYPE: Explanation STATUS: Verified LAST UPDATED 30 June 2023 Coda stands firmly committed to fostering a culture of sustainability and environmental responsibility across its organization. Recognizing the critical importance of carbon reduction and the implications of climate change on its business, the Company is dedicated to playing an active role in mitigating and adapting to this global challenge. Furthermore, Coda is committed to minimising the Company’s impact on the natural environment across all areas of the business. As part of this initiative, Coda educates and engages its employees, clients, and stakeholders about the significance of sustainable practices. In line with its commitment, during the next stage of the feasibility study of the Elizabeth Creek Copper Cobalt Project in South Australia, the Company will investigate alternative mining options and renewable energy generation technologies to reduce carbon emissions. This includes, but is not limited to, the assessment of an all-electric open pit and underground fleet and the potential to implement renewable power and associated battery storage. On the Company’s journey towards greater environmental accountability, Coda will commence tracking and reporting energy consumption across their business. The Company will diligently track and report on Scope 1 and Scope 2 greenhouse gas emissions in line with the GHG protocol during the forthcoming financial year. TCFD Implementation CODE: PL-01-C2 TYPE: Explanation STATUS: Verified LAST UPDATED 30 June 2023 6 Altona Street West Perth Western Australia, 6005 The Task Force on Climate-related Financial Disclosures (“TCFD”) is a global initiative by the Financial Stability Board (“FSB”) that aims to improve climate risk disclosure practices in the financial sector. It brings together experts and stakeholders to develop guidelines for consistent and transparent climate-related information disclosure. The TCFD helps investors, businesses, and regulators understand climate-related risks and opportunities, promoting a more sustainable and resilient global economy. While the TCFD framework is currently voluntary in Australia, Coda is investigating what the implementation of the TCFD framework will signify for the Elizabeth Creek Copper-Cobalt project and future projects. E: info@codaminerals.com ABN 49 625 763 957 NATURE LOSS Land Use and Key Biodiversity Areas ELIZABETH CREEK CODE: PL-02-C1 TYPE: Full Disclosure STATUS: Verified LAST UPDATED 30 June 2023 In an industry dependent upon development of natural resources in remote and sensitive environments, Coda recognises its responsibility to conduct operations with care for the land upon which the Company operates. Coda implements sustainable business practices and has an unwavering commitment to minimising the environmental impact of the Company’s activities, notably with regard to biodiversity and natural ecosystems, along with reducing the Company’s carbon footprint. Coda currently is advancing its Elizabeth Creek project, which located in the arid north of South Australia, through a Pre-Feasibility Study (“PFS”). The project is located within the Gawler bioregion, which is classified as semi-arid to arid, has flat topped to broadly rounded hills of the Gawler Range Volcanics and Proterozoic sediments, low plateaux on sandstone and quartzite with an undulating surface of aeolian sand or gibbers and rocky quartzite hills with colluvial footslopes, erosional and depositional plains and salt encrusted lake beds, with black oak (belah) and myall low open woodlands, open mallee scrub, bluebush/saltbush open chenopod shrublands and tall mulga shrublands on shallow loams, calcareous earths and hard red duplex soils. As part of the Scoping Study, Coda engaged Barron Environmental to conduct a flora and fauna survey of the Project area, to investigate and identify any issues that may relate to the Commonwealth Environment Protection and Biodiversity (EPBC) Act 1999 and SA National Parks and Wildlife (NP&W) Act 1972 and Native Vegetation (NV) Act 1991, including the identification of threatened species, their potential habitats and the occurrence of Groundwater Dependent Ecosystems. There were no species (or evidence of) or threatened vegetation communities observed during the survey. As the Company progresses through a PFS, additional environmental studies will be undertaken. During the 2023 financial year, two major exploration programs were carried out at Elizabeth Creek: an ANT survey covering the Emmie Bluff and Elaine areas and a gravity survey covering an area of 65 sq2. No heritage clearance programs were conducted, but cultural heritage monitors were present during the programs. At Cameron River, a cultural heritage was undertaken by Coda and the Traditional Owners of the project area in July 2022 to prepare for the RC drill programme completed in October 2022, with 27 holes over 2,800m. Coda successfully rehabilitated all the drill holes at Cameron River as well as a number of known drillholes at Elizabeth Creek, see table below. Project 6 Altona Street West Perth Western Australia, 6005 Tenement Holes Elizabeth Creek EL6518 48 Elizabeth Creek EL6265 21 Cameron River EPM27042 6 Cameron River EPM27053 21 E: info@codaminerals.com ABN 49 625 763 957 FRESHWATER AVAILABILITY Water Consumption ELIZABETH CREEK CODE: PL-03-C1 TYPE: Full Disclosure STATUS: Verified LAST UPDATED 30 June 2023 The Company does not currently have any significant water consumption or withdrawal rates, however this is expected to increase as Coda progresses to the PFS stage of the Elizabeth Creek Copper-Cobalt Project. The Scoping Study released in March 2023 identified that anticipated water demand for the Elizabeth Creek Copper-Cobalt Project is as follows: • Processing (estimated as 1280 ML/a for 2 Mt/a production) • Dust suppression (220 ML/a) • Accommodation camp (at 250 L/person/day for 500 persons, approximately 50 ML/a). The water demand is largely driven by estimated future ore production rates and the tailings disposal method, meaning that this forecast volume may change as the project and production plan is refined. As the Company progresses through this study phase, additional appropriate assessments will take place prior to development and production. This will include a hydrogeological drill programme to assess the availability and quality of groundwater for the project. In line with the commitment towards greater environmental accountability, Coda will begin tracking water consumption across all business areas, including the corporate office and on-site, in the next financial year. 6 Altona Street West Perth Western Australia, 6005 E: info@codaminerals.com ABN 49 625 763 957 People DIGNITY AND EQUALITY ELIZABETH CREEK Diversity and Inclusion CODE: PE-01-C1 TYPE: Full Disclosure STATUS: Verified LAST UPDATED 30 June 2023 The Company's workforce is made up of individuals with diverse skills, values, experiences, backgrounds and attributes including those gained on account of their gender identity, age, disability, ethnicity, marital or family status, religious beliefs, cultural or socio-economic background, sexual orientation, perspective and experience. Coda values and is proud of its strong and diverse workforce and is committed to supporting and further developing this diversity through attracting, recruiting, engaging and retaining diverse talent and aligning the Company's culture and management systems with this commitment. The Company believes that such a commitment to diversity creates a competitive advantage and enhances employee participation, and in this way is essential to the organisation continuing to succeed and grow strong. Coda has a Diversity Policy that has been in place since 2019 that forms a part of the Company’s governance framework and is a key pillar for the diversity and equality strategy. The following table highlights the Company’s current workforce by category and diversity by proportion of total employees. Gender Headcount Distribution % Female Board Level Management Level Project Team 33% 0% 27% Total Category Age Group Under 30 30-50 Over 50 100% 0% 20% 80% 50% 50% 25% 75% 0% 40% 67% 33% 0% 33% 67% 100% 40% 60% 7% 40% 53% Male The Company currently has no measurable objectives for achieving gender diversity at this stage. Due to the size of the Company, Coda believes it is not practical to limit the Company to specific targets as it operates in a highly competitive labour market. The Company will continually assess this and develop measurable objectives when appropriate. See Also: Diversity Policy, Board Charter 6 Altona Street West Perth Western Australia, 6005 E: info@codaminerals.com ABN 49 625 763 957 HEALTH AND WELL-BEING Health and Safety ELIZABETH CREEK CODE: PE-02-C1 TYPE: Partial Disclosure STATUS: Verified LAST UPDATED 30 June 2023 The foundation of Coda's success is driven by its people. As such, the health and safety of all employees, contracting partners, site visitors and the wider community in which the Company operates is central to the organisation. Sustaining a strong safety culture committed to a ‘zero harm’ philosophy is paramount when operating in environments, which by nature, are exposed to risk. Coda's approach to all operations embraces a risk-based strategy for safety management, which includes: - Maintaining a health and safety system based on best industry standards; Develop and empower employees and contractors through routine engagement; Identify, assess, mitigate and manage risks; Setting measurable objectives and targets aimed at continuous improvement and eliminating work-related illness; and Ensuring completed work meets or exceeds relevant standards and codes of practices. The Company's health and safety policies and procedures govern the conduct of staff, consultants, and contractors on site, covering topics such as site inductions, safety training, personal protective equipment, risk management, risk assessment, working in heat, incident reporting, emergency response, and vehicle pre-start inspections. By implementing and maintaining such a strategy, the Company can ensure that the health and safety standards set are never compromised. Coda believes having proactive control measures for effective risk management will maximise health and safety outcomes for its people. This proactive approach has resulted in no fatalities or major work-related injuries to date. All relevant safety documentation and reports are archived in Coda Minerals repository of information. See Also: Safety Managment , Risk Management Policy, Annual Report (pg 15) 6 Altona Street West Perth Western Australia, 6005 E: info@codaminerals.com ABN 49 625 763 957 SKILLS FOR THE FUTURE Training Provided ELIZABETH CREEK CODE: PE-03-C1 The Company is committed to designing, implementing and/or maintaining the following programs and initiatives to assist with improving skills and diversity within the organisation: TYPE: Partial Disclosure - STATUS: Verified - LAST UPDATED 30 June 2023 - mentoring programs; career opportunity and targeted professional development programs including those aimed at helping employees develop skills and experience in preparation for senior management and board positions; work life balance policies including flexible work options, return to work programs and the like; networking opportunities. Site personnel are required to undertake the following mandatory training as per Health and Safety requirements: - 1st Aid Training 4WD Training A set value is provided per employee per year towards training and development. Additional training above this value is on an as-needed basis approved by Management. As the Company expands, Coda will review reporting of overall expenditure and hours of training for employees on an annual basis. DIGNITY AND EQUALITY Pay Equality CODE: PE-01-C2 TYPE: Explanation STATUS: Verified LAST UPDATED 30 June 2023 6 Altona Street West Perth Western Australia, 6005 Coda is currently in the early stage of its development with too few employees to provide any meaningful wage-level data by gender and age. Management will develop, for approval by the Board or its relevant subcommittee, appropriate measurable objectives to achieve gender diversity and related metrics such as pay equality, with a view to bridge the diversity gap, attract talent and drive long- term competitiveness when appropriate. See Also: Renumeration Policy, Employee Incentive Plan E: info@codaminerals.com ABN 49 625 763 957 DIGNITY AND EQUALITY Wage Level ELIZABETH CREEK CODE: PE-01-C3 Coda is committed to attracting and retaining the best people to work in the organisation, including Directors and senior management. A key element in achieving that objective is to ensure that the Company is able to appropriately remunerate its key people. TYPE: Partial Disclosure Coda has established a Remuneration Policy that is designed to; STATUS: Verified - LAST UPDATED 30 June 2023 - ensure that coherent remuneration policies and practices are observed which enable the attraction and retention of directors and management who will create value for shareholders; fairly and responsibly reward Directors and senior management having regard to the Company's performance, the performance of the senior management and the general pay environment; and comply with all relevant legal and regulatory provisions. Remuneration packages may contain any or all of the following; annual base salary, performance-based remuneration, equit