RIO2 Limited
2022  Rio2's  ESG Report
Published on  August 29, 2023
Rio2 is a mining company with a focus on development and mining operations with a team that has proven technical skills as well as successful capital markets track record. Rio2 is focused on taking its Fenix Gold Project in Chile to production in the shortest possible timeframe based on a staged development strategy.

Our mission is to develop and operate mines efficiently and in a responsible manner with a proven experienced team while promoting a culture of integration and collaboration with all our stakeholders.

Our purpose is to inspire others by demonstrating that we can overcome all the challenges the mining sector presents us with innovation, inclusion and empathy with the objective of improving the quality of life for everyone involved.
Disclaimer and Forward Looking Statements
Company Profile
Organizational Profile
Name RIO2 Limited
Describe nature of activities, brands, products and services Rio2 is a mining company with a focus on
development and mining operations with a
team that has proven technical skills as well as
successful capital markets track record.

Rio2 is focused on taking its Fenix Gold Project
in Chile to production in the shortest possible
timeframe based on a staged development
strategy.

Rio2 and its wholly owned subsidiary, Fenix
Gold Limitada, are companies with the highest
environmental standards and responsibility
with the firm conviction that it is possible to
develop mining projects that respect the three
axes (Social, Environment, and Economics) of
sustainable development.

As related companies, we reaffirm our
commitment to apply environmental standards
beyond those that are mandated by regulators,
seeking to protect and preserve the
environment of the territories that we operate
in.
Link to Corporate Website https://www.rio2.com/
Industry Classification NAICS:
21222 Gold and silver ore mining
Market Capitalization $0-$100Million USD
Type of Operations Exclusively non-producing operations
Company Headquarters Vancouver, Canada
ESG Accountability
Role and Name of highest authority within company for Environment, Social and Governance strategy, programs and performance Alex Black, Executive Chairman of the Board
ESG Reporting Period
Unless otherwise noted, all data contained in this report covers the following period
From 2022-01-01
To 2022-12-31
Audit Status
Identify the degree to which any inputs of the report are third-party checked Self-Declared
Financial Reporting Period
Specify the frequency of sustainability reporting Annually
Whether Financial reporting period aligns with the period for its sustainability reporting Yes
Specify the contact point for questions about the report or reported information Alejandra Gomez at alejandra.gomez@rio2.com
Geographic Scope of Report
Unless otherwise noted, the data in this report covers ESG matters related to the following countries of operations Chile
Identify notable exclusions, and reference any existing or planned reports that do or will address these (e.g, assets recently divested or acquired, non-managed joint ventures, specific exploration activities, recently closed sites, etc.) There are no geographic or operational
exclusions in this report.
Fragile and Conflict-Affected Situations
Identify all of the entity's countries of operations that align with the World Bank's list of "Fragile and Conflict-Affected Situations" None
Business Operations Scope of Report
Identify notable exclusions, and reference any existing or planned reports that do or will address these (e.g, assets recently divested or acquired, non-managed joint ventures, specific exploration activities, recently closed sites, etc.) This report applies to all company operations.
Mineral Resource Types in Scope
Which of the following mineral resource types are covered by this report
   •  Inferred
   •  Indicated
   •  Measured
Mineral Reserve Types in Scope
Which of the following mineral reserve types are covered by this report
   •  Proven
   •  Probable
Currency
Unless otherwise noted, all financial figures referenced in this report are in the following currency USD
Organizational Profile
Provide a list of externally-developed economic, environmental and social charters, principles, or other initiatives to which the organization subscribes, or which it endorses, e.g., GRI, UN Global Compact In this report, we are aligning with the following
ESG standards:
• CDP - Carbon Disclosure Project
• GRI - Global Reporting Initiative
• Global Reporting Initiative - Mining and
Metals Supplement
• ICMM - The International Council on Mining
and Metals
• ONYEN - Institutional and Investor
Questions
• SASB - Sustainability Accounting Standards
Board
• UGC - UN Global Compact
Strategy
Provide a description of key impacts, risks, and opportunities, Among the most important risks for the Fenix,
Gold Project are physical risks derived from
climate change including water shortages for
processes and projects, and damage to
infrastructure or operational delays due to
extreme weather events.
Please see attached for additional information
on potential risks and a description of our risk
management approach.
Rio2 2022 Risk Management
Provide a statement from the highest governance body or most senior executive of the organization (i.e., CEO, chair, or equivalent senior position) about the relevance of sustainable development to the organization and its strategy for for contributing to sustainable development. (CEO's message for this report) We are focused on carrying out mining
activities responsibly and respectfully. We have
made our commitment to the environment and
community engagement an integral part of our
strategy.
Alex Black, Executive Chairman of the Board
Policy commitments
Provide a description of the organization’s policy commitments for responsible business conduct Rio2 Limited and its subsidiaries are committed
to conducting business with integrity in
accordance with the highest ethical and moral
standards and in compliance with all applicable
laws, rules, and regulations. The Company has
issued a Code of Business Conduct and Ethics
to promote: honest and ethical conduct,
including the ethical handling of actual or
apparent conflicts of interest between personal
and professional relationships; avoidance of
conflicts of interest, including disclosure to an
appropriate person of any material transaction
or relationship that reasonably could be
expected to give rise to such a conflict;
confidentiality of corporate information;
protection and proper use of corporate assets
and opportunities; compliance with applicable
governmental laws, rules, and regulations; the
prompt internal reporting of any violations of
this Code to an appropriate person or person
identified in this Code; and accountability for
adherence to this Code.
Rio2 Limited Code of Business Conduct and
Ethics
What are (if any) the authoritative intergovernmental instruments that the commitments reference Rio2's Code of Business Conduct and Ethics
does not rest on any instruments in particular.
Still, it states that all employees, directors, and
consultants of the Corporation must adhere to
the applicable laws and regulations of the areas
in which it operates.
Do the commitments stipulate conducting due diligence Rio2's Code of Business Conduct and Ethics has
a Concern Reporting, Investigation, and
Resolution section supported by the
Company's Whistleblower Policy.
Rio2's Code of Business Conduct and Ethics
Do the commitments stipulate applying the Precautionary Principle or Approach No
Do the commitments stipulate respecting human rights Yes
Describe the specific policy commitment to respect human rights The Code states that Rio2's employment
decisions will be based on reasons related to
our business, such as job performance,
individual skills and talents, and other business-
related factors. The Corporation policy
requires adherence to all national, provincial, or
local employment laws. In addition to any other
requirements of applicable laws in a particular
jurisdiction, the Company's Code prohibits
discrimination in any aspect of employment
based on race, color, religion, sex, sexual
orientation, national origin, disability, or age
within the meaning of applicable laws. It also
prohibits abusive or harassing conduct by our
employees and officers toward others, such as
unwelcome sexual advances, comments based
on ethnicity, religion, or race, or other non-
business, personal remarks or conducts that
make others uncomfortable in their
employment with us. We encourage and expect
employees and associates to report harassment
or other inappropriate conduct as soon as it
occurs.
What are (if any) the internationally recognized human rights that the commitment covers * Right to life and personal integrity
* Right to work, to  fair work conditions,
prohibition
of slavery and Social Security
* Same right to use the law, equality  before the
law, and the right to be treated fair by the court
*  Equality and no discrimination
* Right to freedom of thought, conscience, and
religion
*  Right to participate in political and public life
* Freedom of opinion, expression, and access
at the information
* Right to private life and privacy
* right to a healthy environment
What are the categories of stakeholders, including at-risk or vulnerable groups, that the organization gives particular attention to in the commitment Rio2 wishes to play an active role in promoting
and exemplifying respect for human rights. This
goal applies to the interests, cultures, customs,
and values ​​of our employees and the
communities we interact with daily.
Provide links to the policy commitments, if publicly available, or, if the policy commitments are not publicly available, explain the reason for this Please see attached Corporate policies for
more detail.
Anti-Bribery and Anti-Corruption Policy Disclosure and Confidentiality Policy General Privacy Policy
Report the level at which each policy commitment was approved within the organization, including whether this is the most senior level All Company Codes and Policies have been
approved by Rio2's Board of Directors.
To what extent the policy commitments apply to the organization’s activities and to its business relationships Code and policy commitments have been
adopted by our Board of Directors to
summarize the standards of business conduct
that must guide the actions of all of the
directors, officers, and employees of the
Corporation. This Code and associated policies
apply to all Corporation directors, officers, and
employees. This Code also applies to certain
contractors. Contractors, including consultants
and advisors are expected to conduct
themselves in accordance with this Code (or
the equivalent of) when dealing with or acting
as a representative of the Corporation.
Describe how the policy commitments are communicated to workers, business partners, and other relevant parties Policy commitments are communicated to
employees and communities via our website,
on-site and online training, annual policy review
and commitment sign-off.
All concerns related to human rights or
governance are handled through the company
Whistleblower or grievance mechanisms.

There is no policy communication for business
partners or other relevant parties.
Embedding policy commitments
Describe how the organization embeds each of its policy commitments for responsible business conduct throughout its activities and business relationships Rio2s Board of Directors, the CEO, and the
CFO are in charge of overseeing the fulfillment
of  Rio2's Code of Business and Ethics and
associated politics.
How are responsibilities allocated in order to implement the commitments across different levels within the organization The HR department communicates with all
Department leaders on the responsibility
vested in their different roles as in policy
compliance from their assigned teams.
In turn, the CEO reports all concerns and
developments to the HSE Committee of the
Board.

Accountability is continuously communicated
as a response to a failure to comply with the
Company policies.
How are the commitments integrated into organizational strategies, operational policies, and operational procedures The Company holds mandatory meetings
where the policies are communicated.

It is expected for all employees to take
these policies into consideration when planning
or executing their work-related tasks.
How does the organization implement its commitments with and through its business relationships Contractors are given feedback sessions where
behaviour and conduct expectancy from their
teams are communicated.
What implementation training does the organization provide Yearly in-person and online training.
Supply Chain
Estimated Total number of Business Entities in its downstream 0
During the reporting period, Rio2 was in the
project development phase and, as such, does
not have production or customers.
Estimated End-Use customers 0
Types of activities related to the organization’s products and services carried out by the downstream entities (e.g., manufacturing, wholesale, retail); The company is currently developing its Fenix
Gold Project and has no active operations.
The nature of its business relationships with the downstream entities See above
Report other relevant business relationships None to report.
Describe significant changes in the information reported about business activities, value chain and other business relationships compared to the previous reporting period None to report.
Material Topics
Governance of Material Topics
Describe the process followed to determine the organization's material topics, including:
i. How has the organization identified actual and potential, negative and positive impacts on the economy, environment, and people, including impacts on their human rights, across its activities and business relationships; provide details
   •  Environmental impact assessment
   •  Social impact assessment
   •  Civil society organizations
ii. How has the organization prioritized the impacts for reporting based on their significance Materiality has been determined using
management's experience in mine project
development, and from information obtained
from various external consultancy firms at the
request of the Company while producing the
Environmental Impact Study for the Fenix Gold
Project, and public sources.
Specify the stakeholders and experts whose views have informed the process of determining its material topics and provide details
   •  Civil society organizations
   •  Governments
   •  Local communities
   •  Shareholders and other capital providers
List the organization's material topics Environmental Assessment
In 2022 Rio2 was focused on filing and awaiting
the Regional Evaluation Commission's decision
on the  EIA (Environmental Impact Assessment)
for the Fenix Gold Project and did not
undertake a formal assessment of its material
topics. The Company will undertake such an
assessment when reasonable in relation to its
stage of development.
List the organization's non-material topics
   •  Economic Performance
   •  Market Presence
   •  Indirect Economic Impacts
   •  Procurement Practices
   •  Materials
   •  Emissions
   •  Effluents and Waste
   •  Products and Services
   •  Transport
   •  Overall environmental
   •  Supplier
   •  Employment
   •  Labor/Management Relations
   •  Occupational Health and Safety
   •  Training and Education
   •  Diversity and Equal Opportunity
   •  Equal Remuneration for Women and Men
   •  Supplier Assessment for Labor Practices
   •  Labor Practices
   •  Grievance Mechanisms
   •  Human Rights Investment
   •  Non-discrimination
   •  Freedom of Association and Collective
Bargaining
   •  Child Labor
   •  Forced or Compulsory Labor
   •  Security Practices
   •  Supplier Human Rights Assessment
   •  Human Rights Grievance Mechanisms
   •  Local Communities
   •  Public Policy
   •  Anti-competitive Behavior
   •  Supplier Assessment for Impacts on Society
   •  Grievance Mechanisms for Impacts on
Society
   •  Emergency Preparedness
   •  Artisanal and Small-scale mining
   •  Resettlement
   •  Closure Planning
   •  Customer Health and Safety
   •  Product and Service Labeling
   •  Marketing
   •  Communications
   •  Customer Privacy
   •  Materials Stewardship
Provide reason for considering such topics not material, provide details Other, please specify
Rio2 Limited is currently in the process of
developing the Fenix Gold Project in Chile. In
2022, the Project had no production and
limited construction activity.
Report changes to the list of material topics compared to the previous reporting period There have been no changes to the material
topics compared to the previous reporting
period.
Environment
General Disclosure
Compliance with laws and regulations
Report the total number of significant instances of non-compliance with laws and regulations during the reporting period, and a breakdown of this total by: 0
Number of instances for which fines were incurred 0
Number of instances for which non-monetary sanctions were incurred 0
Report the total number of fines for instances of non-compliance with laws and regulations that were paid during the reporting period 0
Report the monetary value of fines for instances of noncompliance with laws and regulations that were paid during the reporting period ($Million) 0
Total number of fines for instances of non-compliance with laws and regulations that occurred in the current reporting period 0
Total monetary value of fines for instances of non-compliance with laws and regulations that occurred in the current reporting period ($Million) 0
Total number of fines for instances of non-compliance with laws and regulations that occurred in previous reporting periods 0
Total monetary value of fines for instances of non-compliance with laws and regulations that occurred in previous reporting periods 0
Describe the significant instances of non-compliance Rio2 is in compliance with all environmental
laws and regulations pertaining to the Fenix
Gold Project in Chile.
Greenhouse Gas Emissions
Scope 1
For your operations, disclose the gross global Scope1 greenhouse gas (GHG) emissions to the atmosphere of the seven GHGs covered under the Kyoto Protocol (tonne CO₂-e)
Carbon dioxide (CO₂) (tonne CO₂-e) 95.931
Methane (CH₄) (tonne CO₂-e) 0.000
Nitrous oxide (N₂O) (tonne CO₂-e) 0.000
Hydrofluorocarbon-23 (CHF₃) (tonne CO₂-e) 0.000
Hydrofluorocarbon-32 (CH₂F₂) (tonne CO₂-e) 0.000
Sulphur hexafluoride (SF₆) (tonne CO₂-e) 0.000
Nitrogen trifluoride (NF₃) (tonne CO₂-e) 0.000
Perfluoromethane (CF₄) (tonne CO₂-e) 0.000
Perfluoroethane (C₂F₆) (tonne CO₂-e) 0.000
Perfluorobutane (C₄F₁₀) (tonne CO₂-e) 0.000
Perfluorohexane (C₆F₁₄) (tonne CO₂-e) 0.000
The total amount of gross global Scope 1 GHG emissions (CO₂-e) (tonne) 95.931
GHG emissions for the 2022 ESG Scorecard are
calculated based on estimated fuel and energy
consumption. EPA conversion factors were
utilized to calculate Scope 1 GHG emissions
(CO₂-e) (tonne).
The percentage of its gross global Scope 1 GHG emissions that are covered under an emissions-limiting regulation or program that is intended to directly limit or reduce emissions, such as cap-and-trade schemes, carbon tax/fee systems, and other emissions control (e.g., command-and-control approach) and permit-based mechanisms 0.0000%
In 2022, Chile did not implement an emissions-
limiting regulation or program.
The entity shall discuss its long-term and short-term strategy or plan to manage its Scope 1 greenhouse gas (GHG) emissions Rio2 will develop long and short term strategies
for Scope 1 emissions during the construction
stage and in advance of the operations stage of
the Fenix Gold Project.
Carbon Offset
Credits
How much CO₂ (metric tonnes) offset credits were purchased? 0.000
Air Emissions
Report emissions of air pollutants that are released into the atmosphere
Emissions of carbon monoxide, reported as CO (tonne) 0.000
Rio2 Limited will begin its air emissions
monitoring program after the approval of its
Environmental Impact Assessment by
government authorities as it enters the
construction phase of the Fenix Project.
Emissions of oxides of nitrogen (NOx), reported as NOx (tonne) 0.000
Emissions of oxides of sulphur (SOx), reported as SOx (tonne) 0.000
Emissions of Particulate Matter 10 micrometres or less in diameter (PM₁₀), reported as PM₁₀ (tonne) 0.000
Emissions of lead and lead compounds, reported as Pb (tonne) 0.000
Emissions of mercury and mercury compounds, reported as Hg (tonne) 0.000
Emissions of non-methane Volatile Organic Compounds (VOCs) (tonne) 0.000
Energy Management
Total energy consumed in aggregate, in gigajoules (GJ) (hydrocarbons and electricity) including the fuel types used (e.g., biomass, hydro-electric power or bioenergy) 1,908.000
Percentage energy consumed that was supplied by grid electricity 25.3815%
Percentage of energy consumed that is renewable energy 25.3815%
Water
Efficiency
Proportion of water reused and recycled by the site to reduce the overall consumptive water demand 0.0000%
Water Management
Disclose the amount of water that was withdrawn from freshwater sources (in thousands of cubic meters) 3.640
Volume extracted from the Can Can well.
Disclose the freshwater withdrawn in locations with High or Extremely High Baseline Water Stress as a percentage of the total water withdrawn 26.9231%
The Chilean province of Copiapó was declared
a water scarcity zone during six of the twelve
reported months. Rio2 is using fresh water
while developing its Fenix ​​Gold Project but
plans to operate the Fenix ​​Gold mine using
treated industrial water.
Disclose water withdrawn in locations with High or Extremely High Baseline Water Stress (in thousands of cubic meters) 0.980
In November 2021, the Ministry of Public
Works (MOP) declared a water shortage for
the province of Copiapó, for a period of 6
months, until the end of April 2022, through
Resolution M.O.P. No. 223 dated November 5,
2021.
Disclose freshwater consumed in locations with High or Extremely High Baseline Water Stress as a percentage of the total water consumed 26.9231%
Disclose the amount of water that was consumed in its operations (in thousands of cubic meters) 3.640
The amount of water consumed in the project
was 1.9 megaliters approximately extracted
from the Can Can well (natural source) and 1.74
megaliters was water purchased from
authorized sources in the province of Copiapó.
Total water consumed in locations with high or extremely high baseline water stress (in thousands of cubic meters) 0.980
Was your organization subject to any fines, enforcement orders, and/or other penalties for water-related regulatory violations No
Total number of instances of non-compliance, including violations of a technology-based standard and exceedances of quality-based standards 0
Waste Management
Disclose the total weight of tailings produced (tonne) 0.000
The Fenix Gold Project is currently in
development and does not use substances of
concern. In compliance with corporate
standards and (international standards),
mitigation plans will be developed to ensure the
safe handling of hazardous substances once
operations begin. Moreover, as per its design,
the Fenix Gold Project will not generate tailings
waste.
Tailings Storage Facilities Management
Does your company manage Tailings Storage Facilities No
The Fenix ​​Gold project is in the process of
obtaining its environmental certification;
however when in production the Project will
not generate tailings. .
Innovation
Spending on Research, Development, and Technologies for waste management compliance and improvement 0
Describe nature of spending on Research, Development and Technologies for waste management compliance and improvement In 2022 Rio2 was focused on filing an
administrative appeal before the Ministries
Committee to appeal the Atacama Regional
Evaluation Commission’s decision not to
approve the Environmental Impact Assessment
(“EIA”) for its Fenix Gold Project in Chile, and,
therefore, waste management was not a
material issue for operations. A formal plan will
be developed once a favourable response to the
EIA is obtained and Fenix Gold Project enters
its construction phase.  

Currently, we have appropriate on-site
processes as required by Chilean legislation.
Biodiversity
Management Plan
List the environmental and biodiversity management plan(s) implemented at active sites Rio2's biodiversity management plans are
disclosed in the Fenix Gold's EIA file, which is
currently undergoing an administrative appeal
process. Once the authority resolves this
administrative process and the EIA is approved,
Rio2 will implement biodiversity plans and
programs at its Fenix Gold Project.
1.1 Mine lifecycle stages to which the plan(s) apply
   •  Exploration and appraisal
   •  Site development
   •  Production
   •  During closure
   •  Decommissioning
1.2 The topics addressed by the plan(s)
   •  Discharges to water
   •  Ecological and biodiversity impacts
   •  Natural resource consumption
   •  Noise impacts
   •  Not applicable
   •  Waste generation
1.3 The underlying references for its plan(s), including whether they are codes, guidelines, standards, or regulations; whether they were developed by the entity, an industry organization, a third-party organization (e.g., a non-governmental organization, a governmental agency, or some combination of these groups) The Biodiversity Plan currently under review as
part of the EIA has been developed by
specialized consultants. The plan and the
information included have been prepared in
compliance with current regulations, national
guidelines, and international standards.

In addition, we have proposed voluntary
commitments based on project design and
corporate guidelines.
Impacts
Does access to the site involve traversing a protected area No
This disclosure includes all relevant national
categories and designations as well as
internationally recognized protected areas, i.e.
areas designated under the World
Conservation Union (IUCN) designation I-IV,
UNESCO Natural World Heritage Sites,
UNESCO Man, and the Biosphere Reserves,
and wetlands designated under the Convention
on Wetlands of International Importance (the
Ramsar Convention).
Do any of the entities concessions share a watershed with a protected area Yes
Provide context and description of site access involving traversing protected areas, and/or watersheds shared with a protected area. Include reference to measures in place to assure access, any proactive programs to support the biodiversity of the protected area, and any formal complaints or compliance issues and related steps to resolve Neither the Fenix Gold Project nor any of its
facilities cross a protected area.

The Fenix Gold Project is located 3.6 km from
the boundary of the Nevado Tres Cruces
National Park and the Laguna Santa Rosa
Ramsar Site. (See map attached.)
A small area (0.82 km2) of the upper part of the
Fenix Project is located in the pit sub-basin,
which is a contributor basin to the Maricunga
National Park and Salar. However, according to
the modeling and environmental impact
assessment, the potential effects on the
protected area are not significant. This
negligible impact is associated with the possible
decrease in recharge due to specific Project
works. The possible reduction in recharge is
estimated at 0.20 L/s, corresponding to 2.11%
of the total recharge in the sub-basin (9.5 L/s).
At the basin level, the Rajos sub-basin belongs
to the Salar de Maricunga basin, in which water
balances have been carried out by various
sources, estimating the recharge of the Salar de
Maricunga between approximately 1,200 L/s
and 1,600 L/s, for which the possible decrease
in recharge due to the Project works located in
the Rajos sub-basin represents between
0.013% and 0.017%, at the basin level.
Therefore, no risk of reduced water levels is
expected, which qualifies as a non-significant
impact.
Fenix Gold Pit Sub-Basin Catchment
Percentage of proved reserves in sites with protected conservation status or in areas of endangered species habitat 0.0000%
Percentage of probable reserves in sites with protected conservation status or in areas of endangered species habitat 0.0000%
Percentage of inferred, indicated and/or measured resources in sites with protected conservation status or in areas of endangered species habitat 0.0000%
Social
Scale of the Organization
Describe how the organisation defines its "Operation" The Fenix Gold Project is in the development
phase and is not in operation.
Report the total number of operations 1
Scale of the Organization
Report the total number of direct employees worldwide (exclude contractors) 26
Report the total number of male direct employees worldwide (exclude contractors) 16
Report the total number of female direct employees worldwide (exclude contractors) 10
Report the total number of contract employees worldwide 22
Total number of employees worldwide (include contractors) 48
Total number of female employees and contractors worldwide 13
Female employees and contractors as percentage of total employees and contractors 27.0833%
Total number of male employees and contractors worldwide 35
Male employees and contractors as percentage of total employees and contractors 72.9167%
Total number of non-binary employees and contractors worldwide 0
Non-binary employees and contractors as percentage of total employees and contractors 0.0000%
Employee Information
Report the total number of direct employees by employment type (permanent and temporary), by gender 26
Total number of permanent employees 19
Total number of permanent employees - female 6
Total number of permanent employees - male 13
Total number of permanent employees - Non-binary 0
Total number of temporary employees 7
Total number of temporary employees - female 4
Total number of temporary employees - male 3
Total number of temporary employees - Non-binary 0
Report the total number of non-guaranteed hours employees by gender 0
Total number of non-guaranteed hours employees - female 0
Total number of non-guaranteed hours employees - male 0
Total number of non-guaranteed hours employees - Non-binary 0
Report the total number of employees by employment type (full-time and part-time), by gender 26
Report the total number of full-time employees 26
Report the total number of part-time employees 10
Total number of full-time employees - female 10
Total number of part-time employees - female 0
Total number of full-time employees - male 16
Total number of part-time employees - male 0
Total number of full-time employees - Non-binary 0
Total number of part-time employees - Non-binary 0
Describe the methodologies and assumptions used to compile the data The data was compiled from the information of
the labor force reports that are updated every
month, both from the related companies and
from the contractor companies.
Are the numbers reported in head count, full-time equivalent (FTE), or using another methodology The numbers was reported in head count, to
full-time & part time
Are the numbers reported at the end of the reporting period, as an average across the reporting period, or using another methodology The numbers was reported at the end of the
reporting period
Provide contextual information necessary to understand the employment information provided We had a reduction in personnel because Fenix
Gold still needs to obtain the necessary permits
to carry out construction activities on the
project.
Describe significant fluctuations, if any, in the number of employees during the reporting period and between reporting periods As of the second semester of the year, there
was a progressive decrease in personnel due to
the facts disclosed above.
Workers who are not employees
Report the total number of workers who are not employees and whose work is controlled by the organization 22
Describe the most common types of worker and their contractual relationship with the organization The most common type of employment is
generally full-time and with a permanent
contract.
The type of work they perform The most common type of worker is those in
charge of obtaining the permits to start the
project's construction.
Report the total number of contractors by employment type (permanent and temporary), by gender 22
Total number of permanent contractors 0
Total number of permanent contractors - female 0
Total number of permanent contractors - male 0
Total number of permanent contractors - Non-binary 0
Total number of permanent contractors - Gender not disclosed 0
Total number of temporary contractors 22
Total number of temporary contractors - female 3
Total number of temporary contractors - male 19
Total number of temporary contractors - Non-binary 0
Total number of temporary contractors - Gender not disclosed 0
Report the total number of contractors by employment type (full-time and part-time), by gender 22
Total number of full-time contractors - female 2
Total number of part-time contractors - female 1
Total number of full-time contractors - male 10
Total number of part-time contractors - male 9
Total number of full-time contractors - Non-binary 0
Total number of part-time contractors - Non-binary 0
Describe the methodologies and assumptions used to compile the information about workers who are not employees. The workers employed by the company are all
employees, either directly or from contractors.
Is the number of workers who are not employees reported in head count, full-time equivalent (FTE), or using another methodology No non-employee workers were reported,
since all the people who work for the company
are paid and have been formally hired, either
directly or by contractors.
Is the number of workers who are not employees reported at the end of the reporting period, as an average across the reporting period, or using another methodology All workers have been reported at the end of
the reporting period.
Describe significant fluctuations, if any, in the number of workers who are not employees during the reporting period and between reporting periods As of the year's second half, there was a
progressive decrease in the number of
personnel due to the rejection of the
Environmental Impact Assessment (“EIA”) for
the Fenix Gold Project in Chile.
Turnover
Report the total number and rate of employee turnover during the reporting period, by age group, and gender
All Employees
Total number of turnover (the number that left during the period) 60
Rate of turnover 76.9231%
Female employees
Total number of turnover (the number of females that left during the period) 12
Rate of turnover, females 77.4194%
Male employees
Total number of turnover (the number of males that left during the period) 48
Rate of turnover, males 76.8000%
Non-binary employees
Total number of turnover (the number non-binary that left during the period) 0
Rate of turnover, non-binary Does Not Apply
Turnover & Age Breakdown
Employees aged 30 years old and under
Total number of turnover (the number that left during the period) 5
As percent of total employees 4.1667%
Rate of turnover 100.0000%
Employees aged between 30 and 50 years old
Total number of turnover (the number that left during the period) 42
As percent of total employees 75.0000%
Rate of turnover 84.0000%
Employees over 50 years old
Total number of turnover (the number that left during the period) 13
As percent of total employees 20.8333%
Rate of turnover 56.5217%
Identify types of employees captured in the turnover rate calculations Direct-hire temporary workers (temporary
workers who are on the company payroll)
Average age of employees 45
Diversity and Equal Opportunity
Report the percentage of employees per employee category in each of the following diversity categories
Board of Directors
Total Board of Directors 7
Percent Male 100.0000%
Percent Female 0.0000%
Percent Non-Binary 0.0000%
Percent under 30 years of age 0.0000%
Percent between 30 and 50 years of age 0.0000%
Percent over 50 years of age 100.0000%
Senior Management
Total Senior Managers 3
Percent Male 66.6667%
Percent Female 33.3333%
Percent Non-Binary 0.0000%
Percent under 30 years of age 0.0000%
Percent between 30 and 50 years of age 33.3333%
Percent over 50 years of age 66.6667%
Salaried (excluding Senior Management)
Total Salaried (excluding Senior Management) 8
Percent Male 50.0000%
Percent Female 50.0000%
Percent Non-Binary 0.0000%
Percent under 30 years of age 0.0000%
Percent between 30 and 50 years of age 62.5000%
Percent over 50 years of age 37.5000%
Technical Employees (skilled hourly)
Total Technical Employees 11
Percent Male 63.6364%
Percent Female 36.3636%
Percent Non-Binary 0.0000%
Percent under 30 years of age 0.0000%
Percent between 30 and 50 years of age 81.8182%
Percent over 50 years of age 18.1818%
Production Employees (unskilled hourly)
Total Production Employees 4
Percent Male 75.0000%
Percent Female 25.0000%
Percent Non-Binary 0.0000%
Percent under 30 years of age 0.0000%
Percent between 30 and 50 years of age 25.0000%
Percent over 50 years of age 75.0000%
Contractors:
Total Contractors 22
Percent Male 86.3636%
Percent Female 13.6364%
Percent Non-Binary 0.0000%
Percent under 30 years of age 4.5455%
Percent between 30 and 50 years of age 77.2727%
Percent over 50 years of age 18.1818%
Labour Relations
Collective Bargaining Agreements
Percentage of total direct employees covered by collective bargaining agreements 0.0000%
Rio2 Limited does not have Collective
Bargaining Agreements.
For employees not covered by collective bargaining agreements, report whether the organization determines their working conditions and terms of employment based on collective bargaining agreements that cover its other employees or based on collective bargaining agreements from other organizations The organization determines the working
conditions and terms of employment for all
workers since there is no collective bargaining.
Notice Periods
Minimum number of weeks’ notice typically provided to employees and their representatives prior to the implementation of significant operational changes that could substantially affect them 6 weeks
Occupational Health and Safety
Work-related Injuries
Injuries - For all employees
i. Number of fatalities as a result of work-related injury 0
i. Rate of fatalities resulting from work-related injury. Note: calculating per 200,000 hours worked 0.000
ii. Number of high-consequence work-related injuries (excluding fatalities) 0
ii. Rate of high-consequence work-related injuries (excluding fatalities) 0.000
iii. Number of recordable work-related injuries 0
iii. Rate of recordable work-related injuries 0.000
iv. Main types of work-related injury, e.g., confined space, trips, falls, etc. No work-related injuries were recorded for the
2022 calendar year. This applies to employees
only.
v. Number of hours worked 114,516
Lost Time Injuries (LTIs) 0
Lost Time Injuries Rate (LTIR) 0.000
In 2022, Rio2 Limited had a 0.00 fatality rate,
0.00 work-related incident rate, and a 0.00 Lost
Time Incident rate.
Injuries - workers who are not employees but whose work and/or workplace is controlled by the organization
i. Number of fatalities as a result of work-related injury 0
i. Rate of fatalities resulting from work-related injury. Note: calculating per 200,000 hours 0.000
ii. Number of high-consequence work-related injuries (excluding fatalities) 0
ii. Rate of high-consequence work-related injuries (excluding fatalities) 0.000
iii. Number of recordable work-related injuries 0
iii. Rate of recordable work-related injuries 0.000
iv. Main types of work-related injury, e.g., confined space, trips, falls, etc. Contractors may be struck with an object
within the campsite, trucks overturning
accidents inside the project, material damage,
or operational failure. These apply to
contractors.
v. Number of hours worked 137,507
Lost Time Injuries (LTIs) 0
Lost Time Injuries Rate (LTIR) 0.000
In 2022, Rio2 Limited had a 0.00 fatality rate,
0.00 work-related incident rate, and a 0.00 Lost
Time Incident rate.
Combined (Employees and non-employees, but controlled by the organization):
Total number of all work-related injuries 0
Rate of work-related injuries 0.000
Total Lost Time Injuries (LTIs) 0
Lost Time Injuries Rate (LTIR) 0.000
Report the work-related hazards that pose a risk of high-consequence injury, including
i. How have these hazards been determined Rio2 utilizes the OSHAS 18001 methodology to
identify high-potential hazards.

For this purpose, Rio2 applies the Iper matrix
(HIRA, Hazard Identification, and Risk
Assessment in English). This matrix is a
management tool that can be used to identify
hazards and assess risks associated with the
processes of any organization.

This methodology includes:
•     On-site registration
•     Induction training
•     Monitoring and evaluation
ii. Which of these hazards have caused or contributed to high-consequence injuries during the reporting period In this reporting period, Rio2 did not suffer any
high-consequence injuries.
iii. Actions taken or underway to eliminate these hazards and minimize risks using the hierarchy of controls For 2022 the actions taken according to the
Hierarchy of Controls were:

-Implementation of Administrative controls
-Delivery of Personal Protection Equipment
-Safe Driving in High Mountains Training; and
-Emergency Preparedness Training.
Report on actions taken or underway to eliminate other work-related hazards and minimize risks using the hierarchy of controls In order to eliminate hazards and minimize
risks during 2022, Rio2 complied with Chilean
Occupational Health and Safety Standards and
Regulations (Chile's Occupational Safety and
Health Law No. 16744 regulates workplace
accidents and occupational diseases). The
Company also implemented plans, and
programs as shown in the attached table. There
were no changes in programs implemented
between 2021 and 2022.
Fenix Gold 2022 Elimination of Work-related Hazards -Safety Regulations, Programs, Standards. Regulations
Whether and, if so, why any workers have been excluded from this disclosure, including the types of worker excluded, e.g., short-term contractors No worker has been excluded from this
disclosure.
Disclose any contextual information necessary to understand how the data have been compiled, i.e., any standards, methodologies, and assumptions used Rio2 identifies and develops Health and Safety
procedures and protocols based on the
following:

a) Host government regulations on safety
b) Occupational health and risk prevention, and
c) The adequacy of safety standards in
accordance with our operations.

In addition, we hold daily mandatory safety
meetings with all personnel and contractors to
identify risks as operations and activities
change to meet project demands.

When necessary, we hire external consulting
services specialized in risk prevention.
Safety Training
Disclose the average number of training hours provided to its workforce for health, safety, and emergency management training
Average hours of health, safety, and emergency response training for (a) full-time/direct employees 53.54
In  2022, the Company trained workers who
started work but left within the same reporting
year period.
The average hours of training in health, safety,
and emergency response for contract
employees is high because several workers
entered after the start and before the end of
the period.
Average hours of health, safety, and emergency response training for (b) contract employees 259.27
Security, Human Rights and Rights of Indigenous People
Identify the countries of operations within the World Bank's list of “Fragile and Conflict-Affected Situations” None
Describe the nature of any social risks, for all operating countries, that could have a material risk to operations Please see the attached document for a
description of the social risks related to the
Fenix Gold Project.
Rio2 2022 Social Risks Disclosure
Percentage of proved reserves that are located in or near areas of active conflict 0.0000%
The total amount of proved reserves 650,000
Percentage of probable reserves that are located in or near areas of active conflict 0.0000%
The total amount of probable reserves 722,000
Percentage of inferred, indicated and measured resources that are located in or near areas of active conflict 0.0000%
Total amount of inferred, indicated and/or measured resources 6,733,000
Percentage of proved reserves that are located in or near areas that are considered to be indigenous peoples’ land 0.0000%
There are no percentage of proved reserves
that are located in or near areas that are
considered to be Indigenous peoples’ land.
The total amount of proved reserves 649,999
Percentage of probable reserves that are located in or near areas that are considered to be indigenous peoples’ land 0.0000%
There are no percentage of probable reserves
that are located in or near areas that are
considered to be Indigenous peoples’ land.
The total amount of probable reserves 722,000
Percentage of inferred, indicated and measured resources that are located in or near areas that are considered to be indigenous peoples’ land 0.0000%
There are no percentage of inferred, indicated
and measured reserves that are located in or
near areas that are considered to be Indigenous
peoples’ land.
Total amount of inferred, indicated and measured resources 6,733,000
Describe due diligence practices and procedures with respect to indigenous rights of communities in which it operates or intends to operate Please see attached disclosure.
Colla Communities Transhumance Routes
Rio2's DD Practices Procedures Indigenous Communities
Discuss practices and list procedures while operating in areas of conflict Rio2 does not operate in areas of conflict.
Community Relations
Artisanal and Small-Scale Mining
Number of company operating sites where artisanal and small-scale mining (ASM) takes place on, or adjacent to, the site (not controlled by company/unauthorized) 0
There are no  operating sites where artisanal
and small-scale mining (ASM) takes place on, or
adjacent to, the Fenix Gold Project.
Programs
Report on community relations programs, objectives and achievements in the past 3 years See attached disclosure.
In 2022 we continued our engagement process
with diverse stakeholders of the Fenix Gold
Project with the following objectives:

1. To build collaboration ties and generate the
appropriate social conditions and social license
to guarantee the project's continuity.
2. Strengthen the image and reputation of the
company with stakeholder groups in the
project's area of influence.
3. Ensure the proper implementation of social
guidelines in accordance with the company's
strategy and maintain the project's social and
sustainability viability.
Rio2 Community Relations Programs
Discuss the processes, procedures, and practices to manage risks and opportunities associated with the rights and interests of communities in areas where it conducts business Rio2 has processes, procedures, and practices
to manage risks and opportunities associated
with the rights and interests of the
communities in the areas where we do business
including:

• Evaluation of Actors related to the Project
(EIA )
• Program of Attention to Observations
• Principles of Community Relations and Social
Management
• Policy of contribution to the Communities
• Procedure for contracting Suppliers of
Indigenous Communities
• Register of contributions to Communities
• Register of meetings with institutions
• Social Management Plan
• Gender Inclusion Plan
• Vulnerable People Inclusion Plan
Governance
Climate Change
Oversight
Is there board-level oversight of climate-related issues within your organization Not currently, but we plan to do so within the
next two years
Responsibility
Provide the highest management-level position(s) or committee(s) with responsibility for climate-related issues Chief Executive Officer (CEO)
Nature of primary responsibility Both assessing and managing climate-related
risks and opportunities
Reporting
Frequency of reporting to the board on climate-related issues Not reported to the board
Incentives
Do you provide incentives for the management of climate-related issues, including the attainment of targets No, not currently but we plan to introduce
them in the next two years
Risk and Opportunity Management
Does your organization have a process for identifying, assessing, and responding to climate-related risks and opportunities Yes
Risk Assessments
Have you identified any inherent climate-related risks with the potential to have a substantive financial or strategic impact on your business Yes
Provide details of identified risks in your direct operations with the potential to have a substantive financial or strategic impact on your business, and your response to those risks
Risk 1
Where in the value chain does the risk driver occur Direct operations
Risk type and primary driver Emerging regulation - Carbon pricing
mechanisms
Time horizon of risk Medium-term
Likelihood of impact About as likely as not
Magnitude of impact Unknown
Potential impact financial figure and explanation Currently undefined
Primary potential financial impact Increased indirect (operating) costs
Cost of response to risk and description Currently undefined
Risk 2
Where in the value chain does the risk driver occur Direct operations
Risk type and primary driver Acute Physical - Increased severity and
frequency of extreme weather events such as
cyclones and floods
Time horizon of risk Medium-term
Likelihood of impact More likely than not
Magnitude of impact Medium-low
Potential impact financial figure and explanation Potential operations stoppage due to loss of
access to site from mudslide event. Rio2 has
calculated the stoppage to last between 2 to 4
weeks while access is reestablished.
Primary potential financial impact Increased direct costs
Cost of response to risk and description Unknown, potentially loss of one month's
production, and loss of associated revenue.
Opportunity Assessments
Have you identified any climate-related opportunities with the potential to have a substantive financial or strategic impact on your business Yes
Provide details of opportunities identified with the potential to have a substantive financial or strategic impact on your business
Opportunity 1
Where in the value chain does the opportunity driver occur Direct operations
Opportunity type Energy source: Use of new technologies
Opportunity time horizon Medium-term
Opportunity likelihood Likely
Magnitude of impact Low
Potential impact financial figure and explanation Installation of solar energy for operation and
camp once operations are established.
Primary potential financial impact driver Reduced direct costs
Cost and strategy to realize opportunity and explanation of cost calculation Requires a trade-off study, cost benefi t and
return on investment timeframe.
Opportunity 2
Where in the value chain does the opportunity driver occur Direct operations
Opportunity type Resource efficiency : Use of more efficient
modes of transport
Opportunity time horizon Long-term
Opportunity likelihood More likely than not
Magnitude of impact Medium-low
Potential impact financial figure and explanation Replace diesel-powered vehicles with electric
powered vehicles for some stages of the
operation.
Primary potential financial impact driver Reduced direct costs
Cost and strategy to realize opportunity and explanation of cost calculation Requires technology development for high-
altitude cold-environment electric-powered
vehicles, trade-off study.
Strategy
Have climate-related risks and opportunities influenced your organization’s strategy and/or financial planning Yes
Yes, please refer to the disclosure above for a
description of our strategy and financial
planning.
Water Management
Quality and Quantity Dependency
Rate the importance (current and future) of freshwater quality and quantity to the success of your business
Direct use importance rating Neutral
The Fenix Gold Project will use retreated
industrial water from Copiapó.
Indirect use importance rating Important
Rate the importance (current and future) of sufficient quantity of recycled, brackish and/or produced water for the success of your business
Direct use importance rating Vital
The Fenix Gold Project will use retreated
industrial water from Copiapó.
Indirect use importance rating Important
Risk Assessments
Does your organization undertake a water-related risk assessment Yes, water-related risks are assessed
Select the options that best describe your procedures for identifying and assessing water-related risks
i. Coverage Partial
ii. Risk Assessment Procedure Water risks are assessed as a standalone issue
iii. Frequency of Risk Assessment Annually
iv. How far into the future are risks considered 3 to 6 years
Have you identified any inherent water-related risks with the potential to have a substantive financial or strategic impact on operations Yes, only within our direct operations
The Company has identified two main risks:
- Regulations becoming more restrictive.
-Increased costs for the supply of water.
Provide details of identified risks in your direct operations with the potential to have a substantive financial or strategic impact on your business, and your response to those risks
Risk 1
Type of risk Regulatory
Primary risk driver Physical - Increased water stress
Primary potential impact Increased production costs
Risk timeframe More than 6 years
Magnitude of potential impact Medium
Likelihood of potential impact Unlikely
Potential impact financial figure and explanation Increased water costs, and the need to use
desalinated water.
Primary response Engage with regulators/policymakers
Cost of response and description of response Unknown
Risk 2
Type of risk Other, please specify
Opposition to use of water in Nueva Atacama
Primary risk driver Physical - Increased water scarcity
Primary potential impact Increased operating costs
Risk timeframe More than 6 years
Magnitude of potential impact Medium
Likelihood of potential impact Unlikely
Potential impact financial figure and explanation Increased water costs, and the need to use
desalinated water.
Primary response Engage with local communities
Cost of response and description of response Unknown
Opportunity Assessments
Have you identified any water-related opportunities with the potential to have a substantive financial or strategic impact on your business Yes, we have identified opportunities but are
unable to realize them
Responsibility
Provide the highest management-level position(s) or committee(s) with responsibility for water-related issues Chief Executive Officer (CEO)
Policy
Does your organization have a documented water policy No
Reporting
Frequency of reporting to the board on water-related issues As important matters arise
Incentives
Do you provide incentives to C-suite employees or board members for the management of water-related issues No, and we do not plan to introduce them in the
next two years
Strategy
Are water-related issues integrated into any aspects of your long-term strategic business plan Yes, water-related issues are integrated
If water-related issues are integrated into any aspects of your long-term strategic business plan, please describe further We are currently identifying alternative water
sources to enable project expansion,
environmentally approved continental water or
access to desalinated water via pipelines.
If water-related issues are integrated into any aspects of your long-term strategic business plan, identify the associated long-term time horizon 5-10 years
Governance structure and composition
Describe its governance structure, including committees of the highest governance body; e.g., the Board of Directors, the Executives, the Board Environment Committee, Board Safety Committee, the Advisory Committee, etc. Rio2’s Board of directors is responsible for the
strategic supervision and direction of
Management of Rio2 Limited. The Board is
composed of seven directors, each with a
specific and strategic level of expertise
beneficial to the business of the Company.

The CEO is appointed by the Board and tasked
with achieving the strategic objectives of the
Company and its operational priorities.
List the committees of the highest governance body that are responsible for decision making on and overseeing the management of the organization’s impacts on the economy, environment, and people; e.g., the Board of Directors, the Executives, the Board Environment Committee, Board Safety Committee, the Advisory Committee, etc The committees responsible for decision-
making on economic, environmental, and social
topics including the Corporate Governance and
Compensation Committee, the Audit
Committee, and the Health, Safety, and
Community Committee.

Please see links below for the Health, Safety,
and Community Charter, and the Audit
Committee Charter.
Health Safety and Community Charter

Audit Committee Charter
Delegation of responsibility for managing impacts
Describe whether the highest governance body has appointed any senior executives with responsibility for the management of organization’s impacts on the economy, environment, and people e.g., is it part of the Governance structure of the company, the CFO or internal audit reporting to the Board Yes
Describe whether the highest governance body has delegated responsibility for the management of impacts to other employees; CEO and the Health, Safety, Environment, and
Social Responsibility Committee of the Board
of Directors.
Consultation Process
Report the processes for consultations between stakeholders and the highest governance body on economic, environmental and social topics, e.g., for most mining companies it would be the executives and operations and not the Board, and if delegated, explain how Rio2's consultation processes are led by the
Social, Environmental, and Permitting teams
that report directly to the CEO. The results of
the consultation process are reported to the
Health, Safety, and Community Committee as
important matters arise.
Governance structure and composition
Describe the composition of the highest governance body and its committees by
Number of executive members 1
Number of non-executive members 6
Number of independent members 5
Less than 3 years of tenure of members on the governance body 1
3-6 years of tenure of members on the governance body 6
6-9 years of tenure of members on the governance body 0
More than 10 years of tenure of members on the governance body 0
Number of other significant positions and commitments held by each member, and the nature of the commitments Two of our board directors hold significant
positions and commitments in other
organizations as follows:

Lead Director Klaus Zeitler (Chairman of the
Board of Rio2 Limited in 2021) is also the
Executive Chairman of Amerigo Resources Ltd.
and Director of Western Copper and Gold
Corporation.

The Chairman of Rio2's Audit Committee Ram
Ramachandran is also the CFO of Purepoint
Uranium Group Inc.
Number of Male governance body members 7
Number of Female governance body members 0
Number of members from under-represented social groups 0
Description of competencies relating to economic, environmental, and social topics Please see attached disclosure.
2022 Rio2 Board of Directors 2022 Rio2 Board Competencies
Description of stakeholder representation Rio2 is a Canadian exploration and
development company. Its stakeholder
representation consists of employees and
workers who are not employees, trade union
service suppliers, local community suppliers
and services, and our shareholders and
providers of capital. For a description of our
ownership structure, please see the attached
file.
Rio2 Ownership Structure
Board Diversity
Do you have a diversity policy and if so, provide details, link to the policy or attach the file Currently Rio2 does not have a Board Diversity
Policy
Chair of the highest governance body
Is the chair of the highest governance body is also a senior executive in the organization No
Mr. Klaus Zeitler was the Non-Executive
Chairman of the Board of Directors of Rio2
Limited until November 2022.  On November
28, 2022, Alex Black became the Executive
Chairman of the Board.
Conflicts of Interest
Describe the processes for the highest governance body to ensure that conflicts of interest are prevented and mitigated All Rio2 officers and managers maintain an
"open door" policy regarding questions of
business conduct regarding our Business
Conduct and Ethics Code and its applicability.
Employees are encouraged to be alert to any
work-related activities that could be construed
as a violation of this Code. They have an
obligation to promptly report potential
violations orally, in writing, or, if preferred,
anonymously.  In 2022, Rio2 finalized the
designing of an intranet platform that will
provide employees with an additional channel
for reporting of violations to the Company's
Code of Business Conduct and Ethics once the
Company starts operations.
Report whether conflicts of interest are disclosed to stakeholders, including, as a minimum, conflicts of interest relating to Yes
Cross-board membership Yes
Cross-shareholding with suppliers and other stakeholders Yes
Existence of controlling shareholder Yes
Related parties, their relationships, transactions, and outstanding balances Yes
Collective knowledge of highest governance body
Report measures taken to advance the collective knowledge, skills, and experience of the highest governance body on sustainable development., e.g., board training The Board did not receive training in 2022.
Evaluation of Highest Governance Body
Describe actions taken in response to the evaluations, including changes to the composition of the highest governance body and organizational practices The Board did not receive training in 2022,
hence there were no resulting actions.
Transparency
Describe the role of the highest governance body and of senior executives in developing, approving, and updating the organization’s purpose, value or mission statements, strategies, policies, and goals related to sustainable development In 2022 the Board met with Management four
times to discuss strategy and goals for the
development of the Fenix Gold Project.
Financial, social, and environmental topics were
discussed.
Describe the role of the highest governance body in overseeing the organization’s due diligence and other processes to identify and manage the organization’s impacts on the economy, environment, and people HSE impacts are assessed and managed by the
HSC Board Committee as mandated by its
charter and the Company's Safety,
Occupational Health, Environment, and Social
Responsibility Policy.
Describe whether and how the highest governance body engages with stakeholders to support these processes Yes
The Company's Chairman, CEO and senior
officers speak
with stakeholders frequently and report any
feedback regarding economic, environmental
and social matters to the Board on a regular
basis.
Describe how the highest governance body considers the outcomes of these processes All issues requiring actions are identified,
addresses and reported to the
Board by the HSC Committee on a regular
basis.
Ethics
Describe the management system and due diligence procedures for assessing and managing corruption and bribery risks internally and associated with business partners in its value chain Rio2 has zero-tolerance for bribery and
corruption in all business dealings and
relationships, in all jurisdictions in which it
operates. Implementing and enforcing effective
systems to prevent bribery and corruption is
central to this approach. For this reason, Rio2
has adopted an Anti bribery and Anti-
Corruption Policy to avoid and prevent bribery
and corruption in all business dealings of, and
transactions undertaken by, the Corporation.

This Policy provides information and guidance
on how to recognize and deal with bribery and
corruption issues and provides guidelines and
establishes procedures to ensure that all those
working for, on behalf of, and with the
Corporation have a clear and consistent
understanding of how to avoid and prevent
bribery and corruption. This Policy applies to all
employees and consultants of Rio2 and its
subsidiaries.

Please refer to the link below to access Rio2's
Anti-Bribery and Anti-Corruption Policy.
Rio2 Anti-Bribery and Anti-Corruption Policy
Report net production from activities located in the countries with the 20 lowest rankings in Transparency International’s Corruption Perception Index (CPI) (Saleable tonne) 0
Anti-Corruption
Communication and Training
i) Total number of governance body members that have received training on anti-corruption, broken down by region 7
ii.) Total percentage of governance body members that have received training on anti-corruption, broken down by region 100.0000%
Total number and percentage of employees that have received training on anti-corruption, broken down by employee category and region 26
1a. Total number of employees that received training on anti-corruption 26
Total number of employees 26
1b. Total percentage of employees that received training on anti-corruption 100.0000%
2a. Total number of senior employees that received training on anti-corruption 7
Total number of senior employees 7
2b. Percentage of senior employees that received training on anti-corruption 100.0000%
3a. Total number of middle management employees have received training on anti-corruption 14
Total number of middle management employees 14
3b. Percentage of middle management employees have received training on anti-corruption 100.0000%
Total number of technical employees 0
5a. Total number of production employees that received training on anti-corruption 0
Total number of production employees 0
5b. Percentage of production employees that received training on anti-corruption Does Not Apply
6a. Total number of administrative employees that received training on anti-corruption 5
Total number of administrative employees 5
6b. Percentage of administrative employees that received training on anti-corruption 100.0000%
Remuneration
Describe how the remuneration policies for members of the highest governance body and senior executives relate to their objectives and performance in relation to the management of the organization’s impacts on the economy, environment, and people The Compensation Committee reviews the
achievement of project specific goals included
in the Company’s plans such as: identifying
mineral prospects; executing successful drill
programs; advancing or completing scoping,
pre-feasibility, or feasibility studies; building
and maintaining social license through
community relationships and initiatives;
acquiring necessary permits, and successfully
advancing projects and/or initiatives that
accomplish the Company’s goals.

In addition, the Committee considers
management’s performance in unplanned
situations and their ability to manage projects
through complex political and social situations.

Finally, corporate objectives such as successful
capital raising (if applicable), peer
benchmarking and market performance are
considered.
How the views of stakeholders (including shareholders) regarding remuneration are sought and taken into consideration Company shareholders do not vote on
executive compensation at this time.
Stakeholder Engagement
Report the purpose of the stakeholder engagement Please see attached disclosure.
Rio2 Stakeholder Engagement
Tax
Describe the approach to stakeholder engagement and management of stakeholder concerns related to tax, including:
i. The approach to engagement with tax authorities Rio2 retains third-party experts to advise on
tax related issues and ensure full compliance
with tax obligations.
ii. The approach to public policy advocacy on tax Rio2 does not engage in public policy advocacy
on tax-related issues.
iii. The processes for collecting and considering the views and concerns of stakeholders, including external stakeholders Rio2 does not engage in public policy advocacy
on tax-related issues.
This document was prepared using
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