Corporate Governance, Sustainability, and CSR

Corporate Governance

Montero is committed to strong corporate governance to support long-term value creation and protect stakeholder interests.

The primary role of the Board of Directors (the “Board”) is to oversee the management of the Company’s business and affairs. The Board’s fundamental objectives are to enhance and preserve long-term shareholder value while ensuring that the Company conducts its business ethically and safely. In fulfilling its responsibilities, the Board also considers the legitimate interests of other stakeholders, including employees, customers, and communities.

The Board carries out its duties directly and through its committees, which meet regularly or as needed. Currently, the Board has established the Audit Committee and the Compensation Committee. At this stage of the Company’s development, the Board also performs the functions of a nominating committee.

Our corporate governance practices adhere to the national instruments set forth by the Canadian Securities Administrators, including National Instrument 58-101 – “Disclosure of Corporate Governance Practices.”

Code of Conduct

The Code of Conduct at Montero Mining and Exploration Ltd. (the “Company”) applies to all Covered Persons, including directors, officers, employees, and authorized spokespersons of the Company and its subsidiaries. This Code also extends to consultants, contractors, advisors, and any other individuals involved in business dealings with the Company and its subsidiaries.

Download the Code of Conduct (pdf).

Sustainability & Corporate Social Responsibility

Montero is committed to responsible exploration practices that minimise environmental impact while maximising technical effectiveness. Data-driven targeting helps focus field programs and may reduce unnecessary ground disturbance.

We aim to contribute positively to local communities through responsible engagement and initiatives aligned with local needs, while maintaining compliance with regulations and industry best practices.

Montero is committed to:

• Adhering to Best Environmental Practices: Minimizing our environmental footprint and engaging in programs that benefit communities beyond the life of the mine.
• Maintaining High Health and Safety Standards: Implementing excellent standards of health and safety and robust risk management systems.
• Upholding Human Rights: Ensuring a workplace environment where human rights are respected and upheld.

As part of our commitment to local communities in Tanzania, Montero shipped 160 field rubber-tired wheelchairs to the country. These were distributed across Dar es Salaam, Zanzibar, and the Morogoro region where Montero conducted its Wigu Hill rare earth exploration project. Of these, 85 wheelchairs were allocated to children living with disabilities — 30 in Zanzibar, 55 in Dar es Salaam, and the remainder in Morogoro. The wheelchairs feature improved manoeuvrability and adjustability, supporting better fit and usability for children and their families.

Montero believes that responsible, data-driven exploration supports long-term value creation for shareholders and stakeholders, aligning technical innovation with environmental and social responsibility.