ESIA

Scoping Disclosure

Introduction

Ferro-Alloy Resources Limited and its wholly owned subsidiary, Firma Balausa LLP (together, “the Group”), have commissioned a consortium of consultants comprising Ecoline International Ltd (Bulgaria) and Green Bridge LLP (Kazakhstan) (“the Consultant”) to prepare an Environmental and Social Impact Assessment (“ESIA”) in accordance with the International Finance Corporation’s Policy on Environmental and Social Sustainability and the Equator Principles for the Balasausqandiq Vanadium Mining and Processing Plant Project (“the Project”).

The Project ESIA is to be carried out with respect to the Group’s ongoing Feasibility Study and will be split into two stages: a scoping stage (or preliminary assessment) and a full-scale assessment. Within the framework of the scoping stage, a report has been prepared that describes the environmental and social baseline of the Project, identifies the Project’s main potential negative and positive impacts, defines requirements for information disclosure and stakeholder engagement, and sets out the programme for the full-scale ESIA assessment.

The Scoping Report documents the results of the scoping stage, and its summary is provided in the Scoping Leaflet. Both documents are disclosed below to allow stakeholders to obtain information about the Project at its early planning stage and to provide their feedback. Additionally, in order to establish an open and meaningful dialogue with stakeholders, a Stakeholder Engagement Plan has been developed, including identification and analysis of stakeholders, a preliminary programme for engagement with them, as well as a grievance mechanism.

Scoping disclosure and consultation period

The scoping disclosure and consultation period is 30 days and will be held between 7 March and 7 April 2025. During this period scoping consultation meetings will be conducted in Kyzylorda, Shieli, Aksumbe, and Kosuyenki. The exact dates and venues will be announced by 15 March 2025.

All stakeholders are invited to share their views on the topics discussed in the Scoping Report and Scoping Leaflet (see the contact details in the Scoping Leaflet and Stakeholder Engagement Plan).