Base Resources : Modern Slavery Statement - period ended 30 June 2021

BSE.AX

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personalForMODERN SLAVERY STATEMENT

FOR THE 12-MONTH PERIOD ENDED 30 JUNE 2021

RESOURCES BASE

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personalMODERNSLAVERY ForSTATEMENT- FORTHE 12-MONTH PERIODENDED 30JUNE 20211

Important Notices

This statement is made by Base Resources Limited (ACN

125 546 910) (Base Resources or the Company), a public company incorporated under Australia's Corporations Act 2001 (Cth) and listed on the Australian Securities Exchange and the London Stock Exchange's AIM.

Base Resources is a "reporting entity" under the Modern Slavery Act 2018 (Cth) (Modern Slavery Act) and this statement has been issued by the Company in accordance with section 13 of that Act. Base Resources controls several entities. None of the entities which Base Resources controls is a "reporting entity" under the Modern Slavery Act.

This statement covers the period from 1 July 2020 to 30 June 2021 (FY21 or reporting period). Unless the context requires otherwise, this statement is made in respect

of Base Resources and each of the entities it controls, including its two operating subsidiaries, Base Titanium Limited (a Kenya incorporated entity) and Base Toliara SARL (a Madagascar incorporated company). Accordingly, references to "we", "our" and "us" are to the Company's group as a whole (Group). For further details about Base Resources' controlled entities, refer to Base Resources' 2021 Annual Report.

RESOURCES BASE

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personalMODERNSLAVERY ForSTATEMENT- FORTHE 12-MONTH PERIODENDED 30JUNE 20212

STATEMENT OF COMPLIANCE WITH THE MODERN SLAVERY ACT

Principal Governing Body Approval

This statement was approved by the Board of Base Resources, being the 'principal governing body' as defined in the Modern Slavery Act: see page 12.

Signature of Responsible Member

This statement is signed by Michael Stirzaker, Non-Executive Chair, who is a

'responsible member' of Base Resources, as defined in the Modern Slavery Act: see page 12.

Mandatory Criteria

This statement addresses each of the mandatory criteria in section 16 of the Modern Slavery Act, as specified in the table below.

Mandatory Criteria

Section(s)

Page reference

a) Identify the reporting entity.

Important Notices, 1

1-3

b) Describe the reporting entity's structure,

2-3

4-6

operations and supply chains.

c) Describe the risks of modern slavery

practices in the operations and supply chains

4

7

of the reporting entity and any entities it owns

or controls.

d) Describe the actions taken by the reporting

entity and any entities it owns or controls to

5-6

7-11

assess and address these risks, including due

diligence and remediation processes.

e) Describe how the reporting entity assesses

7

12

the effectiveness of these actions.

f) Describe the process of consultation on the

development of the statement with any entities

the reporting entity owns or controls (a joint

8

12

statement must also describe consultation with

the entity covered by the statement).

g) Any other information that the reporting

entity, or the entity giving the statement,

N/A

N/A

considers relevant.

RESOURCES BASE

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This statement is Base Resources' second modern slavery statement and reports on our actions to identify, assess and address the risks of modern slavery in our operations and supply chains during the reporting period.

personalMODERNSLAVERY

At Base Resources, we are committed to respecting human rights in everything we do and taking action to mitigate the risk of human rights abuses, including modern slavery, in our operations and supply chains.

Put simply, modern slavery is an umbrella term used to describe various situations where victims are exploited and their personal freedoms are undermined or deprived, such as slavery, servitude, forced or compulsory labour and human trafficking.

With increasingly globalised supply chains, all entities, no matter their size, operations and location, face modern slavery risks in their operations and supply chains.

As a mining company carrying out operations in Kenya and with a development project in Madagascar, both places with contextual factors that increase the risk of modern slavery and generally low levels of awareness about modern slavery, we recognise that we are no different.

Taking action to tackle our modern slavery risks is not only consistent with our core values and fundamental to achieving our overarching objective as a company, but also presents us with an opportunity to play a leading role in raising awareness about this issue in those places where we operate and set an example for companies operating in those jurisdictions.

ForSTATEMENT- FORTHE 12-MONTH PERIODENDED 30JUNE 20213

1. WHO WE ARE

We are a Perth head-quartered, African focused, mineral sands producer, developer and explorer with a track record of project delivery, strong and consistent operational performance and excellence in safety, community engagement and environmental stewardship.

Base Resources exists to enrich our people, the communities in which we operate and our shareholders through the creative development of mineral resources. We seek to achieve our objective by adopting inclusive business practices that aim to minimise any negative impacts and maximise the positive outcomes from our activities for our employees, our communities and our host nations, for the full life cycle of all our mining projects. The practices are underpinned by a set of core principles that together form the "Base Way" and include a commitment to safety and operational performance, the recruitment

and training of personnel from our host communities, a preference to work with local suppliers, extensive and effective community programs and a commitment to operating in a sustainable and environmentally responsible manner.

The core principles together forming the "Base Way" are based on our belief in:

The "Base Way" is available from our website at baseresources.com.au/who-we-are/.

RESOURCES BASE

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personalMODERNSLAVERY ForSTATEMENT- FORTHE 12-MONTH PERIODENDED 30JUNE 20214

KEY FIGURES FOR THE REPORTING PERIOD

INVESTED IN COMMUNITY AND ENVIRONMENT PROGRAMS

ADDITIONAL INVESTMENT FOR COVID-19 PROGRAMS

US$3.7million

US$1.4million

NUMBER OF EMPLOYEES BY COUNTRY

KENYA 874

MADAGASCAR 68

AUSTRALIA 20

REVENUE

EBITDA

US$198.2million

US$94.6million

FY21 HIGHLIGHTS

Modern Slavery Risk Assessment

Due diligence on direct

Procedure developed

suppliers carried out

Training provided

Risk analysis on direct

to employees

suppliers performed

Collaborated with a Kenya-based

Training provided to

civil society organisation

Base Resources-supported

farmers' cooperative

Kwale Operations

Kenya

Operational asset producing rutile, ilmenite zircon.

Toliara Project

Madagascar

Mineral sands project progressing towards development.

Base Resources

Perth

Company headquarters.

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Disclaimer

Base Resources Limited published this content on 02 December 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 02 December 2021 21:31:34 UTC.