Spotlight on the implementation of the solar plant at the Lindero Mine

A particularly notable example of our consideration of climate-related risks and opportunities within our business model is the decision to implement the solar plant at Lindero. We conducted detailed energy audits at each of our sites to identify potential options to reduce energy use and GHG emissions. One of the potential options identified for the Lindero Mine was the development of a solar plant. After careful consideration and detailed analysis of the financial and sustainability-related costs and benefits, we determined that this project was economically viable and provided a strong opportunity to reduce GHG emissions, to reduce dependence on diesel fuel and to save costs over the medium and long term.

The project is expected to result in the development of a Photovoltaic plant and a battery energy storage system, which will be incorporated into the existing diesel generation plant forming a hybrid electric power generation plant. The plant will prioritize the generation of renewable electric energy. It is expected to be operational in 2025, to produce 15,000 MWh/year of electricity from renewable sources, and to reduce diesel fuel use by approximately 40%. This plant will be officially recognized as the first hybrid mine to operate in the Province of Salta.

We have achieved a number of key project milestones:

• The tender process is complete and we have entered into an agreement with a vendor.
• The project’s Environmental and Social Impact Assessment (ESIA) was approved the Secretary of Mining and Energy of the Province of Salta in December 2023. This is the main permitting milestone.

We will continue to prioritize the implementation of this project in 2024 and it is highlighted as one of our four priority initiatives to support the achievement of our GHG emissions reduction target.