Mineral Resources : 2023 Modern Slavery Statement

MINERAL RESOURCES LIMITED

2023 MODERN SLAVERY

STATEMENT

CONTENTS

ABOUT THIS STATEMENT	1
OUR OPERATIONS AND SUPPLY CHAIN	6
IDENTIFYING RISKS OF MODERN SLAVERY	16
ASSESSING AND ADDRESSING MODERN SLAVERY	22
ASSESSING THE EFFECTIVENESS OF OUR ACTIONS	34
CONSULTATION AND COLLABORATION	40
LOOKING FORWARD	42
APPENDICES	46
APPENDIX 1: MSA REPORTING CRITERIA INDEX	47
APPENDIX 2: SUBSIDIARY COMPANIES AND
JOINT ARRANGEMENTS	48
APPENDIX 3: POLICIES AND PROCEDURES	50
APPENDIX 4: TEN PRINCIPLES OF THE UNITED
NATIONS GLOBAL COMPACT	53
APPENDIX 5: MODERN SLAVERY PERFORMANCE DATA	54

MINERAL RESOURCES LIMITED IS COMMITTED

TO RECONCILIATION AND RECOGNISES AND RESPECTS THE SIGNIFICANCE OF ABORIGINAL AND TORRES STRAIT ISLANDER PEOPLES'

COMMUNITIES, CULTURES AND HISTORIES.

MinRes acknowledges Aboriginal and Torres Strait Islander Peoples as the first and continuing custodians of the land and waters, and in doing so pays respect to Elders past and present. We extend this acknowledgment and respect to Indigenous Peoples and communities globally.

ABOUT THIS

STATEMENT

Mineral Resources Limited and its subsidiary entities, as identified in this joint statement (collectively termed 'MinRes'), are committed to preventing modern slavery across our business and our supply chain. This is the fourth joint statement that has been prepared in accordance with the reporting requirements of the Australian Modern Slavery Act, 2018 (Cth) (the Act) and constitutes our Modern Slavery Statement for the financial year ending 30 June 2023 (FY23). Our previous joint

Modern Slavery Statements can be viewed on our website at www.mineralresources.com.au.

All references to 'MinRes', 'the Company', 'the Group', 'we', 'us' and 'our' refer to Mineral Resources Limited (ABN 33 118 549 910) and its subsidiary entities identified in Appendix 2 of this joint statement, unless otherwise stated.

This Statement adopts the definition of modern slavery as defined in the Act, which refers to situations where a person's freedom has been restricted or removed so that they can be exploited. This may include human trafficking, servitude, forced labour, debt bondage, worst forms of child labour1, forced marriage and deceptive recruiting for labour or services.

This Statement forms part of our annual reporting suite, including

our Annual Report, Sustainability Report and Performance Data Tables,

Corporate Governance Statement and Tax Transparency Report, all of which are available on our website at www.mineralresources.com.au.

PUBLISHED DATE

This Statement was published on 16 October 2023.

REPORTING PERIOD

This Statement covers the period from 1 July 2022 to 30 June 2023. References in this Statement to 'year' are to FY23 unless otherwise stated.

CURRENCY REFERENCES

All dollar figures are expressed in Australian dollars (AUD) unless otherwise stated.

INDIGENOUS PEOPLES

When used herein "Indigenous Peoples" and "Indigenous Australians" refers to Aboriginal and Torres Strait Islander Peoples.

PERFORMANCE DATA

Figures in tables and in the text presented in this Statement may be rounded. Figures in text are generally rounded to one decimal place, whereas figures in tables are generally rounded to the nearest thousand. Discrepancies in tables between totals and sums of components are due to rounding.

FEEDBACK

We welcome your questions and feedback regarding this Statement and any modern slavery related disclosures.

Please direct your enquiries to [e-mail].

APPROVAL

This Statement was developed by the MinRes Sustainability team with inputs from subject matter experts in Supply, Legal and Shipping functions. It was endorsed by the MinRes Sustainability Committee and approved by the MinRes Board of Directors on 21 September 2023.

GROWING AN

AUSTRALIAN SUCCESS STORY

From humble beginnings in 1992 as a two-person crushing contractor, MinRes is today an ASX 50 company supported by over 5,600 people.

MinRes is one of Australia's leading pit-to-port mining services providers with an expanding worldclass portfolio of iron ore and lithium projects. These endeavours are poised to benefit from our energy business, which will deliver cleaner and more cost-effective power solutions to support our operations and Roadmap to Net Zero Emissions.

MinRes acknowledges and respects the importance of responsible mining practices and continues to operate in the best interests of our environment, people, community and stakeholders.

VISION

To be recognised as a great Australian company and a leading provider of innovative and sustainable mining services and mining operations.

PURPOSE

To provide innovative and low-cost solutions across the mining infrastructure supply chain by operating with integrity and respect, working in partnership with our clients, our customers, our people and our community.

OUR VALUES

AGILE

You won't hear "I don't know" or "I can't" very often at MinRes. We employ the best in the business to keep us moving forward. We act fast, seize opportunities and think differently.

FAMILY

We show up for each other and have each other's back. We care for each other and the world around us and celebrate our differences because they make us stronger. Above all else, we are family.

ACHIEVE

Every person in our business contributes to our success. We do challenging work and we achieve incredible things. We have the courage to take on the impossible and the passion to make it happen.

• Worst forms of child labour defined in International Labour Organisation Convention No. 182 and Recommendation 190.

1 I MINERAL RESOURCES LIMITED 2023 MODERN SLAVERY STATEMENT

MINERAL RESOURCES LIMITED 2023 MODERN SLAVERY STATEMENT I 2

MINRES IS CEMENTING

ITSELF AS AN INDUSTRY

LEADER ON THE BACK OF

THE COMPANY'S DESIRE

TO THINK DIFFERENTLY,

NAVIGATE CHANGING

OPERATING LANDSCAPES

AND MOVE QUICKLY TO

SEIZE NEW OPPORTUNITIES.

James McClements | Independent Non-Executive Chair

CHAIR'S MESSAGE

OUR FY23 PERFORMANCE

2,964	99.8%
of our active high-risk
active Tier 1 suppliers	suppliers screened5
85%	158
of our spend with
	Self-Assessment

I am pleased to present Mineral Resources' fourth Modern Slavery Statement. This Statement outlines our progress under the Australian Modern Slavery Act 2018 (Cth) for the 2023 Financial Year (FY23) and our commitment to identifying and addressing risks of modern slavery throughout our operations and supply chain.

Modern slavery is an abhorrent crime and continues to be a global issue, which has advanced over recent years due to the impacts of the COVID-19 pandemic. The most recent global estimates indicate that over 50 million people are victims of modern slavery, with around 28 million in situations of forced labour2.

As an innovative and leading mining services Company, we recognise the potential for our business to become indirectly exposed to modern slavery risk, particularly within our supply chain. At MinRes, we do not tolerate any form of

our Tier 1 supply chain. This provides an opportunity for us to continually improve our impact positively through meaningful action. To mitigate risks, we require our suppliers to operate in an ethical manner and in strict compliance with all applicable laws and regulations. Through our sustainable procurement and modern slavery program, we screened 99.84 per cent of our high-risk active suppliers in FY23.

We strive to ensure that all our stakeholders, including employees and suppliers, feel supported to report any concerns relating to human rights breaches, through access to our confidential independent whistleblowing service, MinRes Integrity Assist. We also provide our employees with an internal reporting mechanism to raise and seek resolution to grievances in the workplace.

During FY23, we focused on several initiatives which strengthened how we assess risks and measure and evaluate the impacts of those risks on our business. This Statement

Australian suppliers, of which	Questionnaires issued
80% was based in WA
26	countries	$3.8bn6
with active
suppliers
	in total procurement spend

KEY ACHIEVEMENTS	PROCEDURES & STANDARDS

adverse human rights impact, including modern slavery, and remain committed to eliminating the potential risk of human rights abuses occurring within our operations, business partnerships and supply chain.

During the year, we interacted with 2,964 active suppliers in 26 countries, amounting to a total spend of over $3.8 billion3. Our mining operations are based within the Australian jurisdiction and our supplier base is predominantly composed of Australian suppliers, which reflects our continued focus on prioritising local procurement in the regions and communities in which we operate. Of our Tier 1 suppliers, 85 per cent of our spend occurred in Australia - of which 80 per cent was based in Western Australia.

Despite this, we recognise that modern slavery risks are higher within our supply chain than in our operations, with risks typically hidden within the deeper layers beyond

outlines our progress during the financial year, providing us the opportunity to remain transparent and accountable for the impacts of our operations on the global supply chain.

We remain committed to upholding and respecting fundamental human rights across our operations and supply chain and recognise that we are on a journey of continuous improvement, where there is always more we can do.

We welcome your feedback.

James McClements

Independent Non-Executive Chair

IMPROVED ENGAGEMENT

Implemented an improvement request process to increase supplier engagement and encourage actions from issues raised in Self-Assessment Questionnaires (SAQs).

AWARENESS TRAINING

Piloted our human rights training module to 33 stakeholders across key business units including Supply, Sustainability, Legal, Human Resources, Shipping and Risk.

INDEPENDENT SOCIAL AUDIT

Engaged an independent auditor to carry out our first on-premise social audit to understand the suppliers' alignment with our modern slavery expectations.

Developed a Human Rights Supplier Due Diligence Procedure, Sustainable Procurement Standard and International Counterparty Engagement Procedure.

This aimed at increasing the scope of our commitment to ethical and sustainable procurement practices.

POLICY TRANSLATION

Translated our Code of Conduct, Supplier Code of Conduct, Responsible Production Policy, Anti-bribery

• Corruption Policy and Whistleblower Policy into
  Mandarin, in line with our Chinese entity and China remaining our largest international supplier.

SUPPLIER SCREENING

Onboarded an external third-partyrisk-based

software platform to enable an improved understanding and assessment of our supply chain risks beyond our Tier 1 suppliers.

• The Global Estimates of Modern Slavery, published by the International Labour Organization (ILO), International Organization for Migration (IOM) and international human rights group Walk Free, revealed that in 2021, some 50 million people were living in modern slavery: 28 million in forced labour and 22 million in forced marriages. https://news.un.org/en/story/2022/09/1126421.

• This includes operational and capital asset expenditure and excludes acquisition and internal labour costs. As a result, this figure does not reconcile to other financial statements from the Company.

• External limited assurance is provided over our FY23 suppliers screened. Please refer to our2023 Sustainability Report for a copy of the Independent Limited Assurance Statement.

3 I MINERAL RESOURCES LIMITED 2023 MODERN SLAVERY STATEMENT

• External limited assurance is provided over our FY23 suppliers screened. Please refer to our2023 Sustainability Report for a copy of the Independent Limited Assurance Statement.

• This includes operational and capital asset expenditure and excludes acquisition and internal labour costs. As a result, this figure does not reconcile to other financial statements from the Company.

MINERAL RESOURCES LIMITED 2023 MODERN SLAVERY STATEMENT I 4