First Quarter of 2023-2024 Annual Report

Our Manufacturing Factory and Showroom are located at Çakmaklı Köyü Akçaburgaz San-1 Bulvarı, 4. Bölge 11. Cad. 3034 Sok. No:5 Located in Büyükçekmece, Istanbul, our state-of-the-art manufacturing factory and showroom, along with our distinguished presence in the historical Fatih district of Istanbul, serve as the core of our operations. This comprehensive report for the fiscal year 2023-2024, adhering to our Responsible Business Conduct Policy, underscores our unwavering commitment to the Responsible Jewellery Council (RJC) standards. As a testament to our dedication, we ensure every aspect of our business—from sourcing to sales—abides by the highest ethical, social, and environmental standards.

Vision and Mission Alignment: At Simoro Kuyumculuk, our vision to lead with integrity, transparency, and respect for human rights and environmental standards is more than just words—it is our way of doing business. This report reflects our journey over the past year, marking significant milestones in embedding these principles into our corporate DNA. Our mission to foster a transparent and responsible supply chain is backed by robust policies that eschew conflict minerals and any inhumane or fraudulent practices.

Strategic Initiatives for Responsible Sourcing: In our pursuit of ethical excellence, we have instituted rigorous due diligence processes before engaging with suppliers, categorically refusing to conduct business with entities that fail to meet our stringent standards. Mr. Alper Karışık, our COO and appointed RJC representative, has been instrumental in ensuring compliance with relevant regulations and the COP, meticulously tracking and addressing compliance issues that intersect with our industry.

Compliance and Ethical Sourcing: Our adherence to the RJC Code of Practices (COP 2019) is not merely about compliance; it is about setting a benchmark for the industry. This commitment has led to the establishment of comprehensive systems to monitor legal developments, identify risks, and ensure our operations are not just legally compliant but also ethically sound.

Corporate Governance and Policy Implementation: Our responsible supply chain and supplier due diligence policies have been thoroughly implemented, with a zero-tolerance approach towards non-compliance. These policies are not just documented but are actively communicated and endorsed by our Managing Director, fostering a culture of accountability and ethical practice across all levels of the organization.

Engagement and Transparency: Communication lies at the heart of our responsible business conduct. We engage annually with our stakeholders, promoting awareness of OECD guidelines and our corporate supply chain policies. This open dialogue is crucial for reinforcing the ethical backbone of our operations and encouraging our partners to align with our standards.

Financial Integrity and Accountability: Maintaining transparent and accurate financial accounts is a cornerstone of our business ethics. Our commitment to transparency is evident in our audited financial statements and our compliance with the accounting laws of the Ministry of Commerce. This fiscal year has seen a commendable 20% increase in sales, indicative of our growing influence and success in the market.

Promoting Responsible Practices Among Business Partners: We leverage our influence to encourage responsible business practices among our partners, urging them to adopt due diligence processes that align with our ethical standards. This collaborative approach extends to our commitment to human rights, where we consider the potential and actual impacts of our operations and encourage our partners to operationalize human rights principles.

Environmental Stewardship and Safety: Environmental management and the safety and well- being of our employees are paramount. We adhere to Turkish laws and international standards to provide a safe and healthy working environment, underscored by regular risk assessments and targeted initiatives to minimize our environmental footprint.

Continuous Improvement and Industry Leadership: Our achievements under the RJC standards this year are a testament to the dedication and integrity of our team. We remain committed to continuous improvement and actively participate in RJC initiatives to promote sustainable practices within the jewelry industry.

Looking Ahead: As we move forward, Simoro Kuyumculuk San. ve Tic. Ltd. will continue to review and enhance our policies and practices to stay aligned with evolving best practices and RJC standards. Our goal is to not only maintain but to elevate our position as a leader in ethical and responsible jewelry manufacturing and distribution.

Reported on: March 14, 2024.