DIGGERS AND DEALERS MINING FORUM PRESENTATION

IGO Limited (ASX: IGO) (IGO or the Company) is pleased to attach a copy of a presentation which will be presented at the Diggers and Dealer Mining Forum being held this week in Kalgoorlie.

Managing Director and CEO, Peter Bradford, will use the presentation to discuss the strategic transformation IGO has undertaken over the last 12 months, our outstanding operational and financial performance and ongoing commitment to the environment, our communities and our people.

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

For further information contact:

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

2 August 2021 IGO Limited Diggers and Dealers Mining Forum

Thank you

We have transformed ourselves

Transformation:

a complete change in the appearance or character of something or someone, especially so that that thing or person is improved

We are transformed

Transformed Outlook Transformed Culture Transformed ESG

Out transformation journey

Where are we today?

Portfolio focused on nickel, copper and lithium

Tier-1 jurisdictions

Extensive exploration portfolio in Australia and Greenland

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

Our purpose has underpinned our strategy

What is clean energy?

Renewable Energy Energy Storage Electric Vehicles

Let's focus on electric vehicles

Electric vehicles accounted for 4.2% light vehicle sales in 2020

450 electric vehicle models available worldwide by 2022

Western Australia uniquely placed in battery metals supply chain

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

Lithium-ion battery metal demand outlook1

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

FY21 was a highly successful year

Invested into a lithium joint venture
Divested Tropicana
Delivered outstanding operational performance
Maintained balance sheet strength
Built on our ESG credentials
Admitted to the S&P ASX 100

Record financial performance in FY21

Underlying Free Cash Flow (A\$M)

Net Profit After Tax (A\$M)

Net Cash (A\$M)

Nova continues to perform strongly

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%

FY21 Nova Performance

Nova directional guidance

FY22-24 Nova Guidance1

Directional guidance based on consensus commodity price forecasts

Continued process of optimisation & maximisation

Investing into smart solutions to deliver improved safety, increased productivity and lower costs

Continuous optimisation of mine plan and flotation recoveries

Potential to offset inflationary pressures

We divested Tropicana

Divestment to Regis Resources for A\$903M

Completes transformation to be 100% clean energy metals focused

Successful partnership with AngloGold Ashanti over ~20 years

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

Greenbushes growth opportunity

Potential spodumene concentrate capacity expansion (Mtpa)

Kwinana Lithium Hydroxide Refinery

Lithium Hydroxide Production Capacity (ktpa) (100%)

We continued to lead in Sustainability and ESG

Committed to leading performance & reporting

Recognition from external ratings agencies

FY22 focused on carbon neutral roadmap

Dow Jones Sustainability Australia Index

S&P Global 2021 Sustainability Yearbook

Leading ESG Reporting

We have committed to our response to climate change

Adopted internal carbon price

Scope 1 & 2 emissions reduction programs being implemented

Committed to establish carbon offset with FY22

Commitment to understand controllable Scope 3 emissions

We remain growth focused

Inorganic growth via disciplined, accretive M&A

Organic growth via exploration

Value add through vertical integration and downstream

Strong balance sheet

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

Continued A\$65M commitment in FY22

FY22 Exploration Budget

Primary focus on Nova & Fraser Range to leverage advanced understanding of belt

Secondary focus on Paterson which prioritises data capture and target generation for FY23

Generative team targeting nickel, copper and lithium

A highly engaged team who are driven to Make a Difference

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

Continued strong operational and financial performance underpin strong balance sheet

Investing for the future - in people, exploration, ESG and climate change response

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.
Quarterly Financial Results are unaudited.
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.
IGO reports All-in Sustaining Costs (AISC) per ounce of gold for its 30% interest in the Tropicana Gold Mine using the World Gold Council guidelines for AISC. The World Gold Council guidelines publication was released via press release on 27 June 2013 and is available from the World Gold Council's website.
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.