Sustainability

Chief Executive Officer (CEO) is the highest-ranking executive of Ascona Mining Group (“the Company”) and holds overall responsibility for leading the Company’s operations and achieving its strategic objectives. CEO provides direction for the Company by building a strong, cohesive leadership team, implementing sustainable growth strategies, and driving decisions that enhance shareholder value.

CEO is tasked with setting a clear vision for the Company, embedding high ethical standards into all business practices, safeguarding and advancing the Company’s interests, and strengthening its corporate reputation. As the primary spokesperson of the Company, the CEO represents Ascona Mining Group before external stakeholders, regulatory bodies, investors, and industry partners, managing relationships that reinforce the Company’s strategic position.

CEO works in close coordination with the Company’s Board of Directors (“the Board”) and is accountable to the Board for the successful execution of both short- term operational goals and long-term mining investments.

Board of Directors (“the Board”) serves as the Company’s primary oversight body, responsible for supervising the management of all business affairs and operations. The Board’s authority is derived from the provisions of the Canada Business Corporations Act and the Company’s Articles. In addition, its functioning is governed by a set of internal rules and procedures adopted by the Board. The Board periodically reviews its policies and governance guidelines and evaluates, at least annually, the alignment of the Company’s governance practices with standards established by the Toronto Stock Exchange and other relevant Canadian regulatory authorities.

Board convenes as required to carry out its responsibilities, including the review and approval of the Company’s quarterly and annual audited consolidated financial statements.

Chair of the Board, together with the lead director, is responsible for ensuring the Board’s effective operation, development, and overall performance. Chair maintains regular communication with the President and CEO to monitor corporate progress and ensures that the Board receives timely and comprehensive reports regarding profitability, liquidity, operational risks, and significant contractual matters related to the Company’s activities.

Audit Committee is responsible for overseeing the effectiveness of the Company’s financial reporting processes, internal controls, and risk management practices. Committee works closely with external auditors to ensure the accuracy and transparency of financial statements and to confirm that the Company’s accounting policies comply with applicable Canadian regulations and international financial reporting standards.

Committee advises the Board on matters involving financial integrity, potential risks, and internal audit findings as needed. Given the high-cost and risk-intensive nature of mining operations, the Audit Committee plays a vital role in safeguarding the Company’s financial stability.

Corporate Governance Committee is responsible for enhancing the Company’s governance standards, establishing corporate policies and guidelines, and ensuring compliance with applicable regulatory requirements. Committee works to strengthen the effectiveness of the Board and promotes a culture of ethical and responsible leadership.

In addition, the Committee oversees director nomination processes, reviews Board composition, and coordinates annual performance evaluations. Its primary objective is to ensure that Ascona Mining Group maintains a sustainable and internationally aligned corporate governance framework.

Compensation Committee is responsible for developing a fair, competitive, and performance-based compensation framework for senior executives and members of the Board. Committee evaluates annual performance objectives, approves executive compensation packages, and establishes long-term incentive programs.

While ensuring alignment with the Company’s strategic goals, the Committee also considers market trends, industry benchmarks, and stakeholder expectations. Through its mandate, the Committee plays a key role in attracting and retaining high-caliber leadership within the Company.

Purpose

This policy establishes the framework for identifying, assessing, and managing operational, financial, environmental, legal, and safety-related risks across Ascona Mining Group.

Scope

The policy applies to all Company operations, mine sites, employees, executives, and supply chain partners.

Policy Principles

• Risk Identification: Regular and periodic assessments are conducted across all operations.
• Assessment & Prioritization: Risks are ranked based on likelihood and impact.
• Mitigation: Robust safety practices, environmental protection measures, and financial safeguards are applied.
• Reporting: High-impact risks are reported to the CEO and the Board of Directors.
• Continuous Improvement: Processes are reviewed at least annually.

Core Principles

• Employees must act with integrity, respect, and transparency at all times.
• Bribery and corruption are strictly prohibited.
• Any potential conflict of interest must be disclosed.
• Confidentiality and data protection requirements must be followed.
• Health and safety are fundamental priorities for Ascona Mining Group.

Enforcement

Violations may result in disciplinary action or legal proceedings where required.

Ascona Mining Group’s organizational structure is designed to ensure efficient, safe, and accountable operations.

Structure

• Board of Directors
• CEO
• CFO
• COO
• Mine Site Managers
• Geology, Safety, Environmental, Maintenance & Production Departments
• Field personnel and support teams

Each department head reports directly to the CEO.

CEO Responsibilities

• Implement Company strategies and manage operations
• Monitor financial performance
• Oversee investment projects
• Ensure compliance with risk policies
• Manage stakeholder relations
• Provide regular reports to the Board

Authorities

• Decision-making on daily operations
• Appointing or removing senior managers
• Spending within approved budget limits
• Taking urgent actions in crisis situations

Responsibilities

• Define the Company’s strategic direction
• Oversee financial performance and risk management
• Evaluate CEO performance
• Ensure corporate governance compliance
• Maintain independent decision-making processes

Operating Principles

• The Board meets at least four times per year
• Committee reports are reviewed regularly
• Decisions are made by majority vote

As part of this commitment, we have developed a 243,000 m² olive grove in Milas/Kıyıkışlacık. In a sector that often consumes land, we choose to restore it and enhance its natural productivity.

We are currently cultivating over 1,000,000 m² of new olive groves and native tree species. In parallel, we are contributing to the creation of 3,000,000 m² of new forest areas within and around our concessions.

These initiatives strengthen regional ecosystems while forming the foundation of Ascona’s long-term sustainable value-creation model.

Through eco-biological farming programs developed with local farmers, we support rural livelihoods and promote biodiversity — based on sustainable methods and the use of underground geothermal resources that enable year-round agricultural production.

For Ascona, sustainability is not an ambition — it is the structure of the future we are building.

The content will be added.