Hycroft Mining : 2024 Sustainability Report

About this update from Hycroft Mining Holding Corporation

HYCROFT NASDAQ | HYMC 2024 SUSTAINABILITY REPORT About this report Unless otherwise noted, all data contained in this report covers the period of 01-01-2024 to 12-31-2024 This is the second report for Hycroft Mining. Hycroft is reporting on the following guidelines: CDP - Carbon Disclosure Project GRI - Global Reporting Initiative GRI - Mining and Metals Supplement ICMM - The International Council on Mining and Metals IFRS-S1 - General Requirements for Disclosure of Sustainability - related Financial Information IFRS-S2 - Climate-related Disclosures OSHA - Occupational Safety and Health Administration SASB - IFRS Sustainability This ESG report is connected to Hycroft Mining's financial reporting period. The primary focus of this report is the Hycroft Mine in Northern Nevada. ‌Table of Contents Introduction About Us CEO Message Our Operations 03 04 05 Environmental Compliance 06 GHG Emissions 06 Water Management 07 Biodiversity Management 08 Energy Management 09 Waste, Hazardous Material 09 Management Social Scale of the Organization Turnover Labour Relations Occupational Health and Safety Security and Human Rights Community Relations Risks and Opportunities 10 10 10 11 12 12 12 Governance General Disclosure Board Composition Remuneration Ethics and Integrity 13 13 14 14 ‌About us We are precious metals company that hosts one of the largest gold and silver deposits in the world with over 10.6 million ounces of gold and over 361.0 million ounces of silver in the Measured and Indicated Category (over 15 million ounces gold equivalent) with an additional 3.4 million ounces of gold and 96.0 million ounces of silver in the Inferred Category (an additional 4.6 million ounces gold equivalent). The company's land position is approximately 64,000 acres of which only 10% has been explored. We are proud to reflect on Hycroft Mining's outstanding 2024 achievements, culminating in the best drill hole (Hole 6018) in the Company's more than 40-year history - an exceptional intercept of 21.2 meters of 2,359.68 g/t silver, including intervals exceeding 6,000 g/t silver. This supersedes the prior best hole ever drilled (Hole 5753), which returned over 85 meters of 534 g/t silver, including over 39 meters of 1,019 g/t silver. The year 2024 can be characterized as doing what our team does best and has done before - creating value by identifying opportuni- ties that were not explored by several predecessor owners of this unique asset. Our extensive efforts to fully understand the genesis of this world-class asset delivered success for the Company and our shareholders. Throughout 2024, our exploration program consistently delivered excellent results, expanding our newly discovered two high-grade silver dominant trends at Vortex and Brimstone. The drilling campaign produced remarkable intercepts at Brimstone exceeding 1,000 g/t silver in numerous drill hole intercepts. The 2024 drilling extended high-grade mineralization both up and down dip as well as south along strike, and we extended Vortex mineralization approximately 100 meters to the west, encountering both high-grade silver and significant gold values. Additionally, high-grade mineralization was extended along the northern and southern edges, and importantly, vertical continuity was established within the Vortex zone. Our 9,058-meter drilling program has fundamentally changed the notion that Hycroft is a large, low-grade system to one with significant high-grade potential. Due to the rapid expansion of the high-grade zones and continued growth opportunities remaining open in all directions, the Company has been contemplating opportunities to develop a smaller high-grade mining operation for the initial phase of sulfide mining. This would allow for less initial capital, strong cash flows early in the mine life, and overall enhanced economics. Our operational excellence earned industry recognition, with Hycroft receiving the 2024 Operator Safety Award from the Nevada Mining Association. We concluded the year having achieved over 1,500 days without a lost-time incident - a testament to our team's commitment to safety. We have completed more than two years with a zero (0.00) total recordable injury frequency rate ("TRIFR"). Hycroft ESG Report Introduction | 03 ‌Letter from the CEO As we reflect on 2024, I am proud to share the progress Hycroft Mining Holding Corporation has made in advancing our vision for a safer, more sustainable mining future. Our team's dedication, technical rigor, and operational discipline have set a strong foundation for long-term success. Safety remained our top priority in 2024. We extended our record to over two consecutive years and more than one million work hours without a single lost-time incident. This achievement underscores our culture of accountability and our commitment to protecting every employee, contractor, and community member connected to our operations. During the year, we advanced our exploration initiatives, highlighted by the discovery of two high-grade silver zones beneath the Brimstone and Vortex deposits-an important step in unlocking additional long-term value at the Hycroft Mine. These results validate the strength of our geological model and support our belief in the exceptional potential of this asset. We also continued to strengthen our ESG foundation. Our 2023 materiality assessment shaped our 2024 initiatives, with a strong focus on water management, emissions tracking, workforce safety, and community engagement. We implemented new risk evaluation protocols, updated internal KPIs, and improved transparency across our sustainability reporting. In June 2025, we successfully completed a $40 million underwritten equity offering, securing critical capital to advance technical studies, exploration drilling, and support for our sulfide milling transition. This raise demonstrates market confidence in Hycroft's strategy, leadership, and path forward. Looking ahead, 2025 will be a pivotal year. We intend to publish a Preliminary Economic Assessment (PEA) that will provide stakeholders with updated project economics and development scenarios for processing Hycroft's large sulfide resource. This will be a key milestone in guiding investment decisions and positioning Hycroft as a significant U.S. producer of gold and silver. Hycroft will endeavor to maintain transparency with all stakeholder groups relative to environmental stewardship and safety compliance. To our employees, partners, shareholders, and surrounding communi-ties-thank you for your continued trust. Together, we are charting a responsible and resilient path toward value creation and sustainability. Diane R. Garrett President and CEO June 2025 29% Percent of Female governance body members ‌Our Operations 2024 Highlights 37.5% female Total percent of direct female employees 0 Total number and nature of confirmed incidents of corruption 0.000 Near miss frequency rate (NMFR) for work-related near misses s for which fines were incurred injury 0 Number of instances 100% Percentage of employees who received training on anti-corruption 0.000% Lost Time Injuries Rate (LTIR): 43.75 Average hours of health, safety, and emergency response training (full-time/ direct employees) patented claims that comprise approximately 1,787 The Hycroft Mine consists of 30 private parcels with acres, and 3,247 unpatented mining claims that encompass approximately 62,298 acres. The combined patented and unpatented claims comprise approximately 64,000 acres. On May 15, 2023, the Company expanded its holdings by acquiring a 50% undivided interest in three additional mining claims, totaling approximately 60 acres. ‌Environmental Performance Compliance TOTAL NUMBER OF SIGNIFICANT INSTANCES OF NON-COMPLIANCE WITH LAWS AND REGULATIONS DURING THE REPORTING PERIOD, AND A BREAKDOWN OF THIS TOTAL BY: (GRI 2-27-A) Number of instances for which fines were incurred 0 Number of instances non-monetary sanctions 0 Total monetary value of fines ($Millions) 0 The Company is contracted with NAVEX One-EthicsPoint, which is a whistleblowing and incident management software. EthicsPoint allows any employee to easily report incidents, emerging risks, and compliance concerns. Reported risks are automatically flagged for proactive risk management. All data is anonymized and secure. THE MONETARY VALUE OF FINES FOR INSTANCES OF NONCOMPLIANCE WITH LAWS AND REGULATIONS THAT WERE PAID DURING THE REPORTING PERIOD ($MILLION) (GRI 2-27-B) Total number of fines for instances of non-compliance with laws and regulations that occurred in the current reporting period 0 Total monetary value of fines for instances of non-compliance with laws and regulations that occurred in the current reporting period ($) 0 Total number of fines for instances of non-compliance with laws and regulations that occurred in previous reporting periods 0 GHG Emissions Gross global Scope 1 greenhouse gas (GHG) emissions to the atmosphere of the seven GHGs covered under the Kyoto Protocol (SASB EM-MM-110a.1.1) 393,116.154 Gross Scope 1 emissions (tonne CO 2 -e) GHG emissions calculations were based on fuel consumption for drilling equipment and light vehicle transportation during the reporting period. The GHG conversion factors used for this calculation are based on the environmental protection agency ("EPA") guidelines. ‌Water Management AMOUNT OF WATER THAT WAS WITHDRAWN FROM FRESHWATER SOURCES (IN THOUSANDS OF CUBIC METERS) (SASB EM-MM-140A.1.1) 3,000.000 FRESHWATER WITHDRAWN IN LOCATIONS WITH HIGH OR EXTREMELY HIGH BASE LINE WATER STRESS AS A PERCENTAGE OF THE TOTAL WATER WITHDRAWN (SASB EM-MM-140A.1.4) 0 Ground water is extracted from local on-site wells in accordance with active permits. None of these well sites are located within High or Extremely High Baseline Water Stress locations. Hycroft operates in northern Nevada, USA and there are no areas of High or Extremely High Baseline Water Stress locations within 1500 km of the Company's planned area of operation. According to the World Resources Institute's (WRI) Water Risk Atlas Tool, the planned area of operation's baseline water stress is low-medium. Hycroft will monitor groundwater sources according to State of Nevada, Department of Environmental Protection standards and will maintain water quality and quantity for wildlife, livestock, and human consumption to State of Nevada standards. Protection measures shall be taken to control potential artesian groundwater flows. Addressing these challenges remains pivotal for ensuring economic development with environmental and social considerations. DOES ACCESS TO THE SITE INVOLVE TRAVERSING A PROTECTED AREA (ONYEN) NO DO ANY OF THE ENTITIES CONCESSIONS SHARE A WATERSHED WITH A PROTECTED AREA (ONYEN) NO ACCESS TO SITE DOES NOT TRAVERSE WATER SHEDS. ACCESS TO SITE DOES NOT TRAVERSE PROTECTED AREAS. HYCROFT MINE IS LOCATED IN AN AREA WITH BIODIVERSITY CONSIDERATIONS. AS A RESULT, THE COMPANY WILL CONDUCT A NEST SURVEY WITHIN POTENTIAL BREEDING HABITAT PRIOR TO ANY SURFACE DISTURBANCE DURING THE AVIAN BREEDING SEASON, AND INSTALL FENCES AND NETTING TO PREVENT ACCESS BY AVIAN WILDLIFE, LIVESTOCK, AND LARGER WILDLIFE. THE COMPANY WILL ALSO CONDUCT A NOXIOUS WEED SURVEY WITHIN THE ENTIRE PLAN OF OPERATIONS BOUNDARY, AND MONITOR FOR THE PRESENCE OF NOXIOUS WEEDS IN ACCORDANCE WITH THE HYCROFT NOXIOUS WEED MONITORING AND CONTROL PLAN. FOLLOWING CONSTRUCTION ACTIVITIES, AREAS OF DISTURBED LAND NO LONGER REQUIRED FOR OPERATIONS WILL BE RECLAIMED TO PROMOTE THE REESTABLISHMENT OF NATIVE PLANT AND WILDLIFE HABITATS. ‌Biodiversity Management Environmental and biodiversity management plan(s) implemented at active sites (SASB EM-MM-160a.1): Under the Environmental Impact Statement, the project alternatives to be implemented by Hycroft will have no impact on any threatened or endangered listed species and will result in fewer acres of habitat loss. Annual monitoring, mitigation, and adaptive management procedures are conducted to reduce impacts on wildlife including avian species. Coordination with agencies having regulatory authority (e.g. Nevada Department of Wildlife (NDOW) and U.S. Fish and Wildlife Service (USFWS)) occur as necessary to limit impacts to wildlife. ‌Energy Management Total energy consumed in aggregate, in gigajoules (GJ) (hydrocarbons and electricity) (SASB EM-MM-130a.1.1) 7,679,309.496 Calculations for total energy consumed were based on total fuel consumption and electricity usage during the reporting period. Waste and Hazardous Materials Management Total amount of tailings waste generated from mining activities by the entity during the reporting period (tonne) (SASB EM-MM-150a.1) 0.000 Hycroft does not currently have or operate a Tailings Storage Facility.

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