One of Australia’s Highest-Grade Gold Mines, with a Mineral Resource of 3.1Moz

Bellevue Gold achieved net zero (Scope 1 and Scope 2) greenhouse gas (GHG) emissions for the Bellevue Gold Project for H1 CY25.*

This was underpinned by a sector-leading renewable energy power station, which is forecasting annualised renewable energy rates of between 80-90% for FY26.

Our ability to produce ‘green gold’ will be a world-first and the Company is working with our partners at ABC Refinery and Single Mine Origin (SMO) to maximise opportunities to generate a ‘green premium’ for the sale of its gold.

* Net zero greenhouse gas emissions (Scope 1 and Scope 2) achieved at the Bellevue Gold Project

Bellevue Gold’s achievement of net zero greenhouse gas emissions for H1 CY25 is limited to onsite (Scope 1 and Scope 2) greenhouse gas emissions at the Bellevue Gold Project.

Net zero greenhouse gas emissions (Scope 1 and Scope 2) at the Bellevue Gold Project has been achieved by having significant on-site renewable energy and emissions reduction measures, receiving and surrendering renewable energy credits (i.e., LGCs) and voluntarily purchasing and surrendering high-quality carbon credits (i.e., ACCUs).  Bellevue Gold uses significant amounts of renewable energy.  Given that Bellevue Gold designed the Bellevue Gold Project (including the power station) to achieve net zero (Scope 1 and Scope 2) greenhouse gas emissions by 2026, there is no ‘baseline’ of fossil fuel use and emissions against which to measure direct emissions reductions from renewable energy.

Carbon offsets are not the primary method for achieving net zero greenhouse gas emissions but have been used for hard-to-abate greenhouse gas emissions. Refer to the Company’s 2024 Sustainability Report released to the ASX on 2 September 2024 for further information on the Company’s carbon mitigation strategy.

Total CY25 emissions (and surrender of both LGCs and ACCUs (acquired to compensate for hard-to-abate emissions)) will be calculated by carbon accounting specialists and then undergo reasonable assurance (which is an independent review by auditors).

Zenith has registered the Bellevue Gold power station with the Clean Energy Regulator (CER) and seeks quarterly accreditation by the CER for the renewable energy credits (LGCs).  Zenith is contractually required to transfer the LGCs to the Company, which will be surrendered for H1 CY25.  Carbon offsets (ACCUs) for H1 CY25 have been acquired and will be surrendered for H1 CY25. The ACCUs used for H1 CY25 use the Savanna fire management methodologies, as certified by the CER. Bellevue Gold continues to investigate and implement emission reduction measures, however while there remain hard-to-abate greenhouse gas emissions, Bellevue Gold considers such ACCUs an important part of its carbon mitigation strategy.  Bellevue Gold prioritises high-quality offsets, with a preference for co-benefits for Traditional Owners and biodiversity.  Removal based carbon credits will be preferred where practicable and considered by Bellevue Gold to be of sufficient quality.