Publication of 2024 Sustainability Report

Andrada Mining Limited (AIM: ATM, OTCQB: ATMTF), a critical raw materials producer with mining and exploration assets in Namibia, is pleased to announce the publication of its Sustainability Report for the financial year ended 29 February 2024. The report outlines Andrada's sustainability framework and its focus on creating thriving, resilient communities, while ensuring responsible operations through best-practice environmental stewardship and robust governance.

Anthony Viljoen, Chief Executive Officer, commented:

"We are particularly proud of the significant progress we have made in progressing our ESG commitments this year, including a doubling of procurement expenditure within Namibia to £21 million, and maintaining a 99% Namibian workforce. This underlines the dedication to creating value for our host nation and delivering on the promise for an equitable partnership that drives economic growth in Namibia.

The significant improvements in safety metrics and environmental performance, including a 16% decrease in Total Recordable Injury Frequency Rate and 7% energy efficiency improvement, are a direct result of our integrated approach to sustainability. This has been a core focus for the Company in the 2024 financial year. These results validate our strategy of embedding sustainable practices into all our operations whilst delivering operational excellence. Establishing the foundations for sustainable practice now, including conducting thorough analysis initiatives, is imperative to aligning the Company growth trajectory with our ESG objectives.

As we continue to expand our operations, the commitment to responsible mining practices remains unwavering. We look forward to building on these achievements in the year ahead, and to ensuring that Andrada is well qualified to promote the energy transition through its portfolio of critical raw materials."

HIGHLIGHTS

Environment

§ 7% year-on-year improvement in energy efficiency to 0.13 GJ per tonne of ore processed

§ Water withdrawal improved by 5% to 0.21m³ per tonne of ore processed

§ Climate scenario analysis completed to assess physical and transitional risks

§ Implementation of a comprehensive biodiversity action plan

Social Performance

§ £21 million with Namibian suppliers, representing 95% of total procurement expenditure

§ Total work force of 471, comprising 240 employees and 231 contractors

§ 21% female workforce with 25% women in senior leadership roles

Health & Safety

§ Zero fatalities maintained throughout operations

§ 16% reduction in Total Recordable Injury Frequency Rate to 6.79

§ 1% improvement in Lost Time Injury Frequency Rate to 3.02

Governance

§ Significant alignment with ICMM mining principles

§ Rigorous implementation of ESG governance framework

Through its sustainability strategy, Andrada aims to catalyse socioeconomic development in its host regions while protecting and enhancing the natural environment. The Company expenditure of £21 million was from 438 suppliers in Namibia with 53 from Uis and 171 from Erongo. Additionally, a total of £3.5 million was spent in Namibia towards salaries, royalties and social projects during the year under review. This integrated approach ensures that initiatives designed to address climate change, water stewardship and biodiversity also deliver benefits to local communities.

The Company maintains the highest standards of ethics and transparency, aligning with international frameworks including IFC Performance Standards, ICMM Principles, GRI and GISTM. This commitment to good governance underpins Andrada's engagement with all stakeholders, from employees and local communities to governments and investors.

The full Sustainability Report is available for download at: https://andradamining.com/investors/corporate-publications/

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