Following the effort in 2021, early in 2022 Oyu Tolgoi LLC reached new agreements with the Government of Mongolia to enable the commencement of caving operations at OT. This action is an essential step in unlocking the full economic potential of OT. In addition, the Company completed a revised funding agreement with Rio Tinto which provides a clear plan to finance the Oyu Tolgoi underground development to the point of sustainable production, which is now expected to be in the first half of 2023.

Oyu Tolgoi LLC makes an annual contribution of USD 5 million to the Gobi Oyu Development Support Fund (“DSF”), an independent fund that supports sustainable community development. Since its creation in September 2015, the DSF has invested USD 32.9 million, including USD 5.7 million in 2021.

As of December 31, 2021, 53% of employees at the Company’s corporate office identify as female, and 47% of the management and executive teams identify as female. Ulaanbaatar based exploration team is comprised entirely of Mongolian personnel and overall over 96% of Oyu Tolgoi’s workforce are Mongolian nationals.

Moreover, Oyu Tolgoi LLC makes an annual contribution of USD 5 million to the Gobi Oyu Development Support Fund (“DSF”), an independent fund that supports sustainable community development. Since its creation in September 2015, the DSF has invested USD 32.9 million, including USD 5.7 million in 2021.