Clarifying statements regarding the activities of Segilola Resources Operating Limited

Our attention has been drawn to recent online media articles referring to Segilola Resources Operating Limited.

We wish to clarify that Segilola Resources Operating Limited is a private company duly incorporated under the laws of the Federal Republic of Nigeria and licensed by the Federal Ministry of Mines and Steel Development.

The company has no government affiliations or alliance with any political party at any level and has never and will never collude with any individual or organisation to deny or deprive either the federal, state or local government of any revenue due to them by law.

After an extensive period of exploration, completion of feasibility studies and construction, the Company commenced commercial production a year ago, and has fulfilled its statutory obligations by
paying all due royalties and statutory fees to the Federal Government of Nigeria on time as expressly provided for in the Constitution of the Federal Republic of Nigeria, the Nigerian Minerals and Mining Act, 2007 and the Nigerian Minerals and Mining Regulations, 2011.

Through our environmental sustainability initiatives, we have instituted a world class operating system to prevent any form of environmental pollution that could endanger the people of Osun and our environment. Environmental monitoring is continuously carried out and audited by qualified
independent third-party consultants with the results submitted to the Ministry of Mines and Steel Development as well as the Federal Ministry of Environment.

We operate as a world class operating mine, in line with global best practices which is a demonstration of what can be achieved in Osun State and the Nigerian Mining Sector.

For: Segilola Resources Operating Limited

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