Evolution Energy Minerals announced that the Resettlement Action Plan (RAP) for the company's Chilalo Graphite Project in south-east Tanzania has been approved by the Government of Tanzania. Government approval of the RAP is a key milestone, bringing the Company closer to the development of Chilalo - together with the binding offtake agreement and the pending framework agreement with the Government of Tanzania, Evolution is strongly positioned to secure project finance. The RAP was prepared in accordance with applicable Tanzanian legislation1 and International Finance Corporation's (IFC) Performance Standards on Social and Environmental Sustainability - these are the minimum standards required for by debt financiers and sustainability-focused ESG investors.

The RAP, which follows a period of extensive engagement with local communities, includes wide ranging livelihood restoration initiatives to enhance communities' living standards. The RAP for the Company's Chilalo Project was submitted to the Government of Tanzania during June 2022, with formal approval of the Chief Government Valuer received on 10 August 2022. The RAP process began in November 2021 and since that time, there has been extensive engagement with, and strong support from, the Ambye, Lukowe and Nangurugai communities, all of which are proximate to the Chilalo Project area.

The RAP process is used to assess land and property values in connection with the relocation of people and properties. It is a well-established and widely understood process that is applied worldwide in connection with the establishment of mining operations, including extensively in Africa. The RAP was completed in accordance with IFC Performance Standards on Social and Environmental Sustainability, which is generally a condition precedent to project finance.

Approval of the RAP effectively provides the Company with the social license to develop and operate the Chilalo Project.