QEM : Quarterly ESG Disclosure Report

ASX: QEM

DIRECTORS

only	Chairman
	John Foley
	Managing Director
	Gavin Loyden
Non-Executive Director
	John Henderson
Non-Executive Director
	Daniel Harris
Non-Executive Director
use	David Fitch
	JULIA CREEK
	PROJECT
personal	Vanadium
Oil Shale
216 St Georges Tce
	QEM Limited
	Registered Office
	Level 11
	Perth WA 6000
	Australia
	[phone]
	Head Office
	Level 6
	50 Appel St
Surfers Paradise Q 4217
For	Australia
	[phone]

1. .qldem.com.au [e-mail]

ASX ANNOUNCEMENT	26 July 2022

QEM Quarterly ESG Disclosure Report

• QEM releases quarterly Environmental, Social and Governance (ESG) report for Q4 FY2022
• Disclosures are made against the World Economic Forum's Stakeholder Capitalism Metrics
• QEM to continue using Socialsuite to monitor, disclose and streamline ESG progress and initiatives, and release quarterly ESG disclosure reports

QEM Limited (ASX: QEM) ("QEM" or "Company") is pleased to announce that it has published its quarterly Environment, Social and Governance (ESG) report for Q4 FY2022 with disclosures on 21 core metrics set by the World Economic Forum (WEF) in its standardised and globally recognised Stakeholder Capitalism Metrics ESG framework.

As the Company continues to advance its Julia Creek vanadium and oil shale project with associated green hydrogen potential, QEM Managing Director Gavin Loyden said he was pleased to follow up the Company's first Baseline ESG Report released at the end of last quarter. On 31 March 2022, QEM announced to the ASX that it had proactively adopted the global standard for ESG Reporting.

"This subsequent ESG disclosure report captures this point in time on QEM's ESG journey. We are progressively and purposefully embedding ESG reporting into our all operations and governance systems. We understand the importance of maintaining transparency in the way the Company operates so our stakeholders and investors understand our goals and the progress we are making, and may be actively involved throughout the process," Mr Loyden said.

QUARTERLY ESG HIGHLIGHTS

• Comprehensive reporting on environmental management activities completed during the quarter (eg. baseline ecology and habitat assessments, and aerial drone surveys).
• Improved disclosures on stakeholder mapping and consultation, ensuring hard to reach stakeholders and groups are identified and included in community engagement activities.
• The Company aspires to create a diverse workforce that supports equitable participation in regards to age, gender and ethnicity, demonstrated for the moment by a small corporate employee base that has a one to one gender ratio.

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ASX ANNOUNCEMENT	26 July 2022

ASX: QEM

For personal use only

QEM will continue to use Socialsuite's ESG reporting platform to measure, improve, and disclose key ESG metrics and indicators. We commit to ongoing ESG reporting on at least a quarterly basis, openly sharing our progress and initiatives to create long-term value for all our stakeholders.

ENDS

This announcement was authorised for release on the ASX by the Board of QEM Limited.

For further information, please contact:
Gavin Loyden	Joanne Bergamin
Managing Director	Communications Director
P: [phone]	P: [phone]
E:[e-mail]	E:[e-mail]

ABOUT QEM

QEM Limited (ASX:QEM) is a publicly listed company which is focussed on the exploration and development of its flagship Julia Creek Project, covering 250km² in the Julia Creek area of North Western Queensland.

The Julia Creek vanadium / oil shale project is a unique world class critical minerals resource with the added potential to deliver and utilise innovative energy solutions, through the production of energy fuels and vanadium pentoxide. QEM strives to become a leading producer of liquid fuels and in response to a global vanadium deficit, also aims to become a global supplier of high-quality vanadium pentoxide, to both the nascent energy storage sector and the Australian steel industry.

This globally significant JORC (2012) Mineral Resource of 2,850 Mt @ 0.31% V2O5* is one of the single largest ASX listed vanadium resources and represents a significant opportunity for development.

The tenements form part of the vast Toolebuc Formation, which is recognised as one of the largest deposits of vanadium and oil shale in the world and located less than 6km east of the township of Julia Creek. In close proximity to all major infrastructure and services, the project is intersected by the main infrastructure corridor of the Flinders Highway and Great Northern Railway, connecting Mount Isa to Townsville.

*The information in this announcement that relates to the mineral resource and contingent resource estimates for the Company's Julia Creek Project was first reported by the Company in its IPO prospectus dated 20 August 2018 and supplementary prospectus dated 12 September 2018 (together, the "Prospectus") and the subsequent resource upgrade announcements ("Resource Upgrade") dated 14 October 2019 and 7 April 2022. The Company confirms that it is not aware of any new information or data that materially affects the information included in the Prospectus and Resource Upgrade, and in the case of estimates of Mineral Resources and Contingent Resources, that all material assumptions and technical parameters underpinning the estimates in the Prospectus and Resource Upgrade continue to apply and have not materially changed.

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For personal use only

For personal use only

Environmental, Social, and Governance (ESG)

QEM Limited ("QEM" or the "Company") is committed to the principles of ESG as the most effective means of creating long-term enterprise value and addressing the societal priorities enshrined in the United Nations' Sustainable Development Goals. In March 2022, we made a commitment to commence reporting on the Environmental, Social, and Governance (ESG) disclosures of the Stakeholder Capitalism Metrics (SCM) of the World Economic Forum (WEF).

We are in the process of making ESG disclosures in the form of a set of universal, comparable ESG metrics focused on people, planet, prosperity and principles of governance that organisations can report on regardless of industry or region. This table represents our reporting against the 21 core metrics, being reviewed quarterly and updated periodically.

We use this universal ESG framework to align our mainstream reporting on performance against ESG indicators. By integrating ESG metrics into our governance, business strategy, and performance management process, we diligently consider all pertinent risks and opportunities in running our business. We continue to look for opportunities for further transparency on the topics which are material to our business.

To track our disclosure progress and demonstrate our sustainability performance against the WEF SCM framework we utilise Socialsuite's ESG Go disclosure platform. ESG Go enables us to demonstrate our ongoing commitment to ESG by providing a dedicated solution to track, report, and share our ESG disclosures. With ESG Go we have started the journey of building robust ESG credentials.

Last updated: 25/7/2022

GOVERNANCE

Governance

SETTING PURPOSE

onlySettin purpose

TYPE

Full disclosure

STATUS

Verifed

LAST UPDATED

QEM Limited (ASX:QEM) is focused on the exploration and development of the Julia Creek Vanadium and Oil Shale Project, a unique world class critical minerals resource with the added potential to deliver and utilise innovative and sustainable ener y solutions.

SEE ALSO:

	19 Jul 2022
use	About QEM
	GOVERNANCE BODY COMPOSITION
	Governance body composition
	TYPE	The QEM Limited Board of Directors has established a
	Full disclosure
personal	corporate overnance framework, policies and charters, to
	STATUS	support its commitment to the hi	hest standards of
	Verifed	corporate overnance. To achieve this, QEM's Board has
	adopted a number of charters and policies which aim to
	LAST UPDATED	ensure that value is created whilst accountability and
	19 Jul 2022	controls are commensurate with the risks involved. These
		policies are in accordance with the recommendations set
		out in the ASX Corporate Governance Principles and
		Recommendations - 4th Edition.
		To ether with the Company's Constitution, a number of
		charters and policies have been adopted. These include a
		Diversity Policy which refects QEM's commitment to buildin
		a diverse and skilled team, which the Board stron ly believes
		will lead to continuous improvement in safety, innovation
		and productivity.
or
QEM Limited | ESG report ( 1 Apr 2022 to 30 Jun 2022) |			Page 2 of 19