PRESENTATION TO AUSIMM LITHIUM BATTERY AND ENERGY METALS CONFERENCE

IGO Limited (ASX: IGO) (IGO or the Company) is pleased to attach a copy of the presentation provided to the AusIMM Lithium Battery and Energy Metals Conference which is being held this week in Perth, Western Australia.

IGO's Chief Operating Officer, Matt Dusci, will use his keynote address to discuss IGO's transition to becoming a globally relevant producer of clean energy metals and our increasing focus on decarbonisation and sustainability.

This announcement is authorised for release to the ASX by Peter Bradford, Managing Director & CEO

For further information contact:

Richard Glass Investor and Media Relations Manager T: +61 8 9238 8300 E: [email protected]

2 September 2021 IGO Limited IGO's path to becoming a globally relevant producer of clean energy metals

Our strategy

What is clean energy?

Renewable Energy Generation Renewable Energy Storage Electrification of Transport

Out transformation journey

What drove this transformation

Outlook Purpose Environment & Climate

We have achieved this by living our Purpose

We believe in a world where people power makes amazing things happen.

Where technology opens up new horizons and clean energy makes the planet a better place for every generation to come.

Our people are bold, passionate, fearless and fun – we are a smarter, kinder and more innovative company.

Our work is making fundamental changes to the way communities all over the world grow, prosper and stay sustainable. Our teams are finding and producing the specialist metals that will make energy storage mobile, efficient and effective enough to make long-term improvements to the lifestyle of hundreds of millions of people across the globe.

How? New battery storage technology is finally unleashing the full potential of renewable energy by allowing power produced from the sun, wind and other sources to be stored and used when and where it's needed. This technology will impact future generations in ways we cannot yet imagine, improving people's quality of life and changing the way we live.

We believe in a green energy future and by delivering the metals needed for new age batteries, we are making it happen

Why? To create a better planet for future generations

Lithium-ion battery projections

Battery demand set to increase 5x over the next decade

Passenger vehicle electrification is the primary driver

Lithium-ion battery demand outlook (GWh/year)1

Risk of history repeating itself

Potential for reality to be larger than projections – just like solar panels!

Source: International Energy Agency Source: Terra Studio

Solar PV Plug-in EV 2015-2021 CAGR = 55%

Significant implications for raw materials

Nickel – implications for nickel demand

Nickel dominant cathode chemistries to remain technology of choice for US/EU markets

Laterite to nickel sulphate conversion processes incur a high environmental cost

Production capacity limited by lack of new discovery

Lithium – implications for lithium demand

Lithium is a critical raw material for all battery chemistries

Lithium demand from electric vehicles expected to account for 75% of market by 20301

Increasing focus on produce provenance to ensure high ESG credentials

Global Lithium Market Balance (kt LCE)2

IGO portfolio aligned to electric vehicle

Metal demand for lithium-ion batteries in 2025 (kt) ¹

IGO is the only company globally producing four key electric vehicle battery metals

Where are we today?

Ni (Cu + Co)	Nova IGO 100%	• Australia's lowest cost nickel sulphide operation • Track record of consistent production and cost control
1 Li	Greenbushes IGO 24.99%	• World's largest, highest grade and lowest cost hard rock lithium mine • Significant expansion optionality
	Kwinana IGO 49%	• Australia's first fully automated lithium hydroxide refinery • Battery grade product contracted to leading battery manufacturers ex -China
Cu Ni	Exploration	• Enduring commitment to exploration • Extensive portfolio of belt scale projects focused on nickel and copper discovery

Nova Operation

FY21 Results

FY21 production above guidance for all metals

Cash costs below guidance at A\$1.85/lb (payable)

Free Cash Flow	A\$392M
EBITDA Margin	65%

Nova Financial Performance

Cash Flow from Operating Activities Underlying Free Cash Flow

We invested in a Lithium Joint Venture with Tianqi

World class lithium portfolio with scale, quality, life and strong ESG credentials

Greenbushes World's lowest cost and highest grade hard rock lithium mine

Kwinana First fully automated LiOH plant

Kwinana Lithium Hydroxide Refinery

Lithium Hydroxide Production Capacity (ktpa) (100%)

We continue to prioritise discovery

Focus on high value magmatic nickel sulphides and sediment hosted copper

Best in class team utilising best science available – geology, geophysics and geochem

Extensive & highly prospective landholding across Australia

Climate Change

Climate change is one of the most complex risks facing the world today

Climate Change Strategy

Reducing Carbon – emissions intensity

Emissions Intensity of Nickel Operations1

Emissions Intensity of Lithium Brine versus Mineral2

Source: BloombergNEF. Note: *estimated carbon intensity and covers estimated energy load, not overall operations. Reported emissions include total emissions across overall operations. Glencore reports total carbon emissions for its nickel business unit
Source: Roskill Lithium CO2 Oct 2020. Note: *weighted average CO2 emissions intensity with averages skewed lower by some more efficient larger scale producers (eg Tialson Greenbushes Mine)

Decarbonisation – Fundamental for the Sector

credit worthiness of companies

Accelerating our response to climate change

Adopted an internal carbon price

Scope 1 & 2 emissions reduction programs being implemented

Investing in carbon removal and offsets programs in FY22

Commitment to understand controllable Scope 3 emissions

Sustainability

Dow Jones Sustainability Australia Index

S&P Global 2021 Sustainability Yearbook

Committed to leading performance & reporting

Recognition from external ratings agencies

FY22 focused on carbon neutral roadmap

Our people & culture are our #1 priority

Developing and fostering the next generation of leaders

Concluding comments

Transformative transactions complete transition to clean energy metals focus

We are at the infancy of this social shift toward clean energy

Western Australia is uniquely positioned to leverage from this opportunity

Cautionary Statements & Disclaimer

This presentation has been prepared by IGO Limited ("IGO") (ABN 46 092 786 304). It should not be considered as an offer or invitation to subscribe for or purchase any securities in IGO or as an inducement to make an offer or invitation with respect to those securities in any jurisdiction.
This presentation contains general summary information about IGO. The information, opinions or conclusions expressed in the course of this presentation should be read in conjunction with IGO's other periodic and continuous disclosure announcements lodged with the ASX, which are available on the IGO website. No representation or warranty, express or implied, is made in relation to the fairness, accuracy or completeness of the information, opinions and conclusions expressed in this presentation.
This presentation includes forward looking information regarding future events, conditions, circumstances and the future financial performance of IGO. Often, but not always, forward looking statements can be identified by the use of forward looking words such as "may", "will", "expect", "intend", "plan", "estimate", "anticipate", "continue" and "guidance", or other similar words and may include statements regarding plans, strategies and objectives of management, anticipated production or construction commencement dates and expected costs or production outputs. Such forecasts, projections and information are not a guarantee of future performance and involve unknown risks and uncertainties, many of which are beyond IGO's control, which may cause actual results and developments to differ materially from those expressed or implied. Further details of these risks are set out below. All references to future production and production guidance made in relation to IGO are subject to the completion of all necessary feasibility studies, permit applications and approvals, construction, financing arrangements and access to the necessary infrastructure. Where such a reference is made, it should be read subject to this paragraph and in conjunction with further information about the Mineral Resources and Ore Reserves, as well as any Competent Persons' Statements included in periodic and continuous disclosure announcements lodged with the ASX. Forward looking statements in this presentation only apply at the date of issue. Subject to any continuing obligations under applicable law or any relevant stock exchange listing rules, in providing this information IGO does not undertake any obligation to publicly update or revise any of the forward looking statements or to advise of any change in events, conditions or circumstances on which any such statement is based.
There are a number of risks specific to IGO and of a general nature which may affect the future operating and financial performance of IGO and the value of an investment in IGO including and not limited to economic conditions, stock market fluctuations, commodity demand and price movements, access to infrastructure, timing of environmental approvals, regulatory risks, operational risks, reliance on key personnel, reserve and resource estimations, native title and title risks, foreign currency fluctuations and mining development, construction and commissioning risk. The production guidance in this presentation is subject to risks specific to IGO and of a general nature which may affect the future operating and financial performance of IGO.
All currency amounts in Australian Dollars unless otherwise noted.
Net Debt is outstanding debt less cash balances and Net Cash is cash balance less outstanding debt.
Cash Costs are reported inclusive of Royalties and after by-product credits on per unit of payable metal basis, unless otherwise stated.
Underlying EBITDA is a non-IFRS measure and comprises net profit or loss after tax, adjusted to exclude tax expense, finance costs, interest income, asset impairments, gain/loss on sale of subsidiary and Tropicana, redundancy and restructuring costs, depreciation and amortisation, once-off transaction costs, and foreign exchange and hedging gains/losses attributable to the acquisition of Tianqi.
Free Cash Flow comprises Net Cash Flow from Operating Activities and Net Cash Flow from Investing Activities. Underlying adjustments exclude acquisition costs, proceeds from investment sales including Tropicana, and payments for investments and mineral interests.