• Value creation

Key observations:

In compliance with 4.12 of the <IR> Framework, NordGold’s business model outlines its inputs (divided into each category of capital) as well as the Group’s business activities, outputs and outcomes. The outcomes are colour coded in correspondence with the inputs to allow stakeholders to clearly identify the link between inputs and outcomes. The overview is focused on how the Group’s activities and its outputs lead to outcomes in terms of effects on the capitals, thereby providing a holistic and concise overview of the material matters that contribute to the creation of value.