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Banro Corporation Mineral Resources & Reserves OUR GOAL IS to BE a MODEL of EXCELLENCE in SUSTAINABILITY

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Banro Corporation Mineral Resources & Reserves OUR GOAL IS to BE a MODEL of EXCELLENCE in SUSTAINABILITY INVESTING IN SKILLS TRAINING SUSTAINABLE COMMUNITIES 2016 SUSTAINABILITY REPORT CONTENTS OF THIS REPORT 2 Corporate Profile 4 Message from the President and CEO 6 Building a Skilled Congolese Workforce 13 Partnering with Communities 15 Fostering Alternative and Sustainable Livelihoods 24 Environmental Management 28 Banro Foundation 32 Governance, Conflict Minerals & Human Rights 36 Banro Corporation Mineral Resources & Reserves OUR GOAL IS TO BE A MODEL OF EXCELLENCE IN SUSTAINABILITY Banro is a growing African gold producer committed to achieving excellence in sustainability through a comprehensive focus on the building of positive and supportive relationships with local communities, the creation of capacity-building jobs for Congolese citizens, high standards of environmental management, the nurturing of local supply chains, the building of local infrastructure and the forging of partnerships with local and international NGOs. Banro’s contributions to responsible economic development in the eastern Democratic Republic of the Congo are expected to grow significantly in the years ahead. BANRO CORPORATION 1 CORPORATE PROFILE Banro Corporation is a Canadian gold year. The Company’s longer term mining company, focused on four objectives include the development of two wholly-owned gold projects in South Kivu additional wholly-owned gold projects, and Maniema provinces of the Lugushwa and Kamituga. Democratic Republic of the Congo (DRC). Banro has to date identified 7.04 million In September 2012, the Company ounces of Measured and Indicated commenced commercial production at its Resources, plus Inferred Resources of Twangiza gold mine, the first commercial 5.08 million ounces of gold. The gold mine built in the DRC in over Company’s total Proven and Probable 50 years. Twangiza has been designed to Mineral Reserves are 3.18 million ounces produce over 100,000 ounces of gold per of gold.* In addition to its four projects year. A second gold mine, located at the which hold mining licenses and cover Namoya project, entered commercial 2,613 square kilometers, Banro also has production in January 2016. Efforts at 14 exploration permits covering 2,638 Namoya are currently focused on the square kilometres. Less than 12% of this ramp-up to full production, which is also total ground has been explored using in excess of 100,000 ounces of gold per modern techniques. Since beginning exploration in November of 2004, Banro has emerged as one of the Bukavu largest private sector employers in the Walungu Kamanyola eastern DRC. At the end of 2015, the DEMOCRATIC REPUBLIC OF Company directly or indirectly through THE CONGO N2 KAMITUGA TWANGIZA contractors employed approximately Mwenga N2 N2 2,700 Congolese citizens. The Company is headquartered in Toronto and trades on LUGUSHWA Kitutu Uvira the Toronto Stock Exchange and the NYSE MKT under the symbol “BAA.” Lake Kalole More information on the Company’s activities and its commitment to Kilembwe Tanganyika Baraka NAMOYA South Kivu Corporate Social Responsibility is 50 Maniema available on the Company’s website, Fizi km Lwiko www.banro.com, and on the website of the Canadian Securities Administrators, LEGEND Main Roads and Towns Permits for Exploitation (PE) PR’s applied for (Awaiting approval) Road under Construction Prospecting Licenses (PR) www.sedar.com, and the SEC’s website Deposit Location Track Outstanding application and Name at www.sec.gov/edgar.shtml. * Information on tonnage and grades is provided on page 36. 2 2016 SUSTAINABILITY REPORT TOTAL INVESTMENTS AND EXPENDITURES IN THE DEMOCRATIC REPUBLIC OF THE CONGO (2004 – 2015) BANRO CORPORATION Expenditures on DRC Exploration Activities US$246,874,000 Investment in the Twangiza Gold Plant 225,699,000 Expenditures on Twangiza Infrastructure 25,278,000 (Roads, bridges, houses, schools, churches and public facilities) Investment in the Namoya Gold Plant 268,281,000 Expenditures on Namoya Infrastructure 22,923,000 (Roads, bridges, houses, schools, churches and public facilities) Total DRC Taxes and Government Fees 95,404,663 (Payroll, Import, Fuel) Sub-Total US$861,536,663 BANRO FOUNDATION Investment in Education in DRC US$2,202,500 Investment in Health Care in DRC 965,000 Investment in Social Infrastructure in DRC 1,623,500 Investment in Agriculture 377,500 Other Expenditures (Humanitarian Assistance, Community Support, Conservation) 333,000 Sub-Total US$5,501,500 Total DRC Expenditures US$867,038,160 together producing 210,000 to 230,000 ounces of gold per year. The Company is seriously examining the prospects for building a third mine at the Lugushwa project, and will accelerate exploration there in 2016. This step also brings into clearer focus our fourth gold project, MESSAGE FROM Kamituga, with a feasibility study likely to begin within two to three years. JOHN CLARKE Progress has many partners, a fact which PRESIDENT & CEO is particularly true of the progress achieved at Banro’s gold projects. Our many partners in success include a Banro now has two gold mines of equal importance talented and dedicated Congolese – one in South Kivu Province and the other in workforce, the local communities near our operations, dozens of local business Maniema Province – together producing 210,000 partners, and the Congolese central and to 230,000 ounces of gold per year. provincial governments. Twangiza and Namoya are two of the first three new gold mines to be built in the DRC in over Outstanding operating progress was 50 years, a milestone which has clearly recorded at both of Banro’s wholly-owned signified to global investors that the gold mines in 2015, making this the major country has emerged as a place to find, highlight of the year for the Company. finance and successfully build new gold The exciting story at the Twangiza mine mines. This progress has come about as was our peoples’ success in achieving a a result of the efforts of the Congolese steady-state, reliable, low cost mining people, the DRC government and the John Clarke operation capable of running above world community to secure improving President and CEO design levels. This resulted in a record peace and political governance, leading 2015 production year of 135,532 ounces of to a more secure and prosperous future gold – a 38% increase in production over for the DRC. 2014 and a 64% increase over 2013. Banro is proud to be part of these Meanwhile, a successful production developments. We are also cognizant of ramp-up at the Namoya gold mine in the our responsibilities in working with local fourth quarter led the Company to communities and their leaders to ensure declaring commercial production there on that the benefits of mineral development January 1, 2016. Namoya has continued to are shared across the communities expand production into the early months where we are active. We strive to do this of 2016, with full production within sight by contributing to the social and at the time of writing. economic development of the region and Banro now has two gold mines of equal by managing our business with a focus importance – one in South Kivu Province on technical excellence and on ethical and the other in Maniema Province – and environmental responsibility. 4 2016 SUSTAINABILITY REPORT Through this approach, we believe the business will serve all stakeholders and be sustainable into the future. In this year’s Sustainability Report, we present the Company’s progress across a wide portfolio of responsibilities, including the creation of capacity-building jobs and opportunities, environmental management, relations with local communities, the building of local infrastructure, governance and transparency and more. However, there were two areas in particular where considerable effort was focused in 2015 and which we have highlighted in this report. to become economically sustainable. The first is the training of local employees. In this Report, you will read about several Today, with the percentage of our initiatives sponsored by Banro and our employees approaching 95% Congolese, registered charity, the Banro Foundation, to and many of our people never having support local cooperatives, mainly in worked in a commercial gold mining agriculture, but also in such endeavours as operation previously, training of all types road building, furniture-making and has taken on exceptional importance. brick-making. All of this work is in addition This training is carried on in a number of to the activities of the Banro Foundation to ways – much of it abroad in such support education, health care and social countries as South Africa, Ghana and infrastructure development. India, within the DRC at various educational centres across the country, Banro is committed to ensuring that and within Banro, where it is conducted sustainability remains at the very heart of by both Banro trainers and outside its business. Sustainability represents an experts. Today, almost all our Congolese investment in the future and in the employees have received training related security and social development of the to jobs and skills with more training communities where the Company’s planned for the future. operations are based. Banro’s success to date is a tribute to the outstanding efforts With such programs, Banro is not only of our employees and the cooperation and training its own employees, but helping to support of the local communities and train a young generation of Congolese government officials who share our mining, exploration and business commitment to see the growth of professionals, who over time will make a responsible mining in the eastern Congo. growing contribution to the development of their country, wherever they are employed in the country. A second priority focus in 2015 was in John Clarke working with communities to assist them President and CEO BANRO CORPORATION 5 BUILDING A SKILLED CONGOLESE WORKFORCE The goal is to have 95% of all management, professional, skilled and administrative jobs in Banro’s DRC operations filled by Congolese nationals. Since commencing exploration in 2004, The Twangiza mining and mine Banro has worked to build a skilled and development teams are the furthest highly-trained Congolese workforce.
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