Extractive Sector Transparency Measures Act - Annual Report

Reporting Entity Name

Rugby Resources Ltd.

Reporting Year

From

01/03/22

To:

28/02/23

Date submitted

Reporting Entity ESTMA Identification Number

E860589

Original Submission

Amended Report

Other Subsidiaries Included

Volador Colombia S.A.S.

(optional field)

Not Consolidated

Not Substituted

Attestation by Reporting Entity

In accordance with the requirements of the ESTMA, and in particular section 9 thereof, I attest I have reviewed the information contained in the ESTMA report for the entity(ies) listed above. Based on my knowledge, and having exercised reasonable diligence, the information in the ESTMA report is true, accurate and complete in all material respects for the purposes of the Act, for the reporting year listed above.

Full Name of Director or Officer of Reporting Entity

Alejandro Adams

Date

20203-07-14

Position Title

CFO

Reporting Year Reporting Entity Name Reporting Entity ESTMA Identification Number Subsidiary Reporting Entities (if necessary)

Extractive Sector Transparency Measures Act - Annual Report

From:

01/03/22

To:

28/02/23

Rugby Resources Ltd.

Currency of the Report

CAD

E860589

Payments by Payee

Country

Colombia

Colombia

Colombia

Colombia

Departments, Agency, etc…

Infrastructure

Total Amount paid to

Payee Name1

within Payee that Received

Taxes

Royalties

Fees

Production Entitlements

Bonuses

Dividends

Improvement Payments

Payee

Payments2

Federal Government of

Agencia Nacional de Mineria

31,701

31,701

Colombia

(ANM)

Consejo Comunitario Mayor

de La Asociación Campesina

70,582

70,582

Integral del Atrato

(COCOMACIA)

Corporación Autónoma

Regional para el Desarrollo

17,001

17,001

Sostenible del Chocó

(CODECHOCO)

Federal Government of

Ministerio de Defensa Nacional,

58,433

58,433

Colombia

Fuerzas Militares de Colombia

Notes34

Canon fees paid to ANM. Exchange rate used: 1 COP= 0.00030034 CAD (avg. for the period).

Acces fees/Social programs paid to COOCOMACIA. Exchange rate used: 1 COP= 0.00030034 CAD (avg. for

the period).

Water permits paid to CODECHOCO. Exchange rate used: 1 COP= 0.00030034 CAD (avg. for the

period).

Payments to 3rd party vendors for goods and services delivered to the military for security services. Exchange rate used: 1 COP= 0.00030034 CAD (avg. for the period).

Additional Notes:

Extractive Sector Transparency Measures Act - Annual Report

Reporting Year

From:

01/03/22

To:

28/02/23

Reporting Entity Name

Rugby Resources Ltd.

Currency of the Report

CAD

Reporting Entity ESTMA

E860589

Identification Number

Subsidiary Reporting Entities (if

necessary)

Payments by Project

Country

Project Name1

Taxes

Royalties

Fees

Production Entitlements

Bonuses

Dividends

Infrastructure

Total Amount paid by

Improvement Payments

Project

Colombia

Cobrasco

177,717

Additional Notes3:

Notes23

Canon fees, water permits, access fees/social programs paid to federal and local government entities or ministries. Payments to 3rd party vendors for goods and services delivered to the militay for security services.

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Disclaimer

Rugby Resources Limited published this content on 14 July 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 18 July 2023 17:32:08 UTC.