IGO LIMITED — Investor Presentation 2021

Jun 14, 2021

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ASX RELEASE
15 June 2021
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ESG ROADSHOW PRESENTATION

IGO Limited (ASX: IGO) ( IGO or the Company ) is pleased to attach a copy of a presentation which will be used during an ESG Roadshow ( Roadshow ) being conducted virtually this week with institutional investors and proxy advisors.

The Roadshow will be attended by IGO’s Non-Executive Chair, Peter Bilbe, Non-Executive Director, Michael Nossal, and Company Secretary and Head of Corporate Affairs, Joanne McDonald, and is designed to highlight IGO’s strong performance and disclosure of Environment, Social and Governance (ESG) related matters and provide an opportunity to discuss this important area of IGO’s business.

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

For further information contact:

Richard Glass Investor Relations & Communications Manager T: +61 8 9238 8300 E: richard.glass@igo.com.au

Suite 4, Level 5 PO Box 496 85 South Perth Esplanade South Perth WA 6951 South Perth WA 6151 Western Australia

T. +61 8 9238 8300 F. +61 8 9238 8399 E. contact@igo.com.au

igo.com.au IGO Limited ABN 46 092 786 304

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IGO Limited ESG Roadshow

June 2021

Our Strategy

Aligned to clean energy metals

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Globally Relevant

large scale, high quality asset portfolio supplying products critical to clean energy

Vertically Integrated

upstream metal production and downstream processing with connectivity to end users

High-quality and Diverse Suite of Products

to meet customer demand, made safely, sustainably, ethically and reliably

Being Carbon Neutral

by embracing renewable energy and innovation

Delivered by people who are bold, passionate, fearless and fun

- a smarter, kinder, more innovative team

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Our Purpose

Making a Difference

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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. We 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 longterm 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.

This is the IGO Difference.

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Our Values

Reimagined through co-creation with our people in 2019 to embody the IGO Difference

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Sustainability

Strong focus on sustainability because it’s the right thing to do

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Strong ESG brand developed through industry leading performance and disclosure

Focus on decarbonisation through clean energy generation at Nova

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S&P Global 2021 Sustainability Yearbook

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Environment

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Climate Change

Aspiring to be carbon neutral by 2035

Emissions Reduction Roadmap

Internal carbon price

Carbon offset strategy

Working to understand projects which will help decarbonise our business and operations

Implementing key tool in assessing new projects, opportunities and to enable fast tracking of emissions reductions

Understand how we can offset the emissions we cannot reduce from our operations

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Climate Change

Continuing to improve reporting against TCFD recommendations

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What we’ve done –

• FY20 Sustainability Report aligned to TCFD

• Resilience testing using various climate change scenarios

• Completed climate change risk assessment

What we’re doing now –

• Developing metrics and targets outlining roadmap

• Setting strategies to influence and reduce Scope 3 emissions

• Regular review of TCFD reporting

• Integrating joint venture operations into climate risk register

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Social

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Our People

A team who are bold, passionate, fearless and fun - smarter, kinder, and more innovative

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Leadership development and support is the key to an engaged and connected workforce

A strong Employee Value Proposition underpins an employment brand that employees trust

Building our culture is a deliberate, conscious and continuous focus

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Our People

2021 Employee Engagement Survey Results

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Employee Engagement Score 67% Pride in working for IGO 88% Motivated to “go the extra mile” 71% IGO is a socially and environmentally responsible 88% organisation

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Safety Improving, but more to do

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Lag Safety Indicators (TRepIFR [1 ] & SPIF [2] ) Lead Safety Indicators
20 7 400
19
350
6
18
17 300
5
16
250
15
4
14 200
3
13
150
12
2
11 100
10
1
50
9
8 0 0
TRepIFR (lhs) SPIFR (rhs) VSLI Hazard Near Miss Workplace Inspection
Dec-17 Mar-18 Jun-18 Sep-18 Dec-18 Mar-19 Jun-19 Sep-19 Dec-19 Mar-20 Jun-20 Sep-20 Dec-20 Mar-21 Jun-20 Jul-20 Aug-20 Sep-20 Oct-20 Nov-20 Dec-20 Jan-21 Feb-21 Mar-21 Apr-21 May-21
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Fit-for-purpose systems

Strong safety culture

Focus on leadership

Managing critical risks

Organisational learning

1. 12 month moving average TRepIF – Total Reportable Injury Frequency Rate: calculated as the number of reportable injuries x 1,000,000 divided by the total number of hours worked. 2. 12 month moving average SPIF: Serious Potential Incident Frequency Rate: calculated as the number of serious potential incidents x 1,000,000 divided by the total number of hours worked.

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Wellness

Integrated approach to wellness of our people

Physical health promotion programs focused on proactive health interventions

Mental and social health programs to create happier and more connected people

Financial health and education to build employee wellbeing for the future

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Retention

Consistent focus on improving the employee value proposition

Key focus areas:

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Building a positive and inclusive culture

Company-wide focus on learning and development

Benchmarked and competitive remuneration

Meaningful non-financial benefits

Continue to source great talent in a constrained labour market

12%

Voluntary Turnover Rate

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Diversity and Inclusion

We understand the benefits related to a diverse workforce

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Females in IGO workforce 27% Aboriginal Employment 3% Percentage of IGO people say that IGO 88% values diversity

Percentage of IGO people say that IGO is inclusive and accepting 87% of diverse backgrounds and ways of thinking

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40:40 Initiative

Public statement of an existing commitment to diversity

Pledge to achieve gender balance (40:40:20) in executive leadership by 2030

Pledge

Make our plan public to employees, shareholders, investors and the business community.

Complete

Ongoing Ongoing

Declare medium and long-term gender targets for 2023 and 2027.

Report annually on how they are tracking against targets.

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IGO was one of 10 inaugural signatories in FY21

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Modern Slavery

Prepared and released our first statement during FY21

Key Actions

Continue to refine and review our assessment of modern slavery risks in our supply chain

Supplier Risk Assessment

Develop metrics to review and assess the overall effectiveness of our management of modern slavery risks

Performance Monitoring

Continue to review and update our key documents to reflect our modern slavery commitments

Corporate Governance

Contracting Arrangements

Update our contract templates with modern slavery due diligence obligations

Expand delivery of modern slavery awareness training to employees and key suppliers

Training

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Aboriginal Employment

Programs in place to assist with Aboriginal engagement

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Continued commitment across the business to build sustainable skillsets within our host communities

A focus on continuous improvement for recruitment and employment processes to support inclusion and retention

In FY21, engaged the Aboriginal Mining Academy to provide additional resources to improve onboarding and training of new recruits

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Cultural Heritage Management

IGO recognises and respects the cultural and heritage value of the lands on which we operate

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Agreements in place with all key Traditional Owners

Focused on creating shared value

Increasing sophistication of risk management

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Cultural Heritage Management

Track record of engagement over many years

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Strong working relationship with Ngadju

Cultural heritage training

Employment

Community benefits including A$15M royalties

No section 18 approvals current or under application

Capability increased including appointment of Senior Land Access & Heritage Manager & Cultural Heritage Coordinator to work alongside legal and exploration teams

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Making a Difference

Corporate Giving

Ongoing Commitments

Royal Flying Doctors Service WA

Ronald McDonald House

Earbus Foundation

CoRE Learning Foundation

Teach Learn Grow Clontarf Foundation Esperance Senior High School - STARS Dandjoo Darbalung Perth’s Children Hospital Foundation

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Governance

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Board of Directors

Broad mix of skills, experience and backgrounds

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PETER BILBE Non-Executive Chairman Tenure: 12 years

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DEBRA BAKKER Committee Memberships People & Performance (Chair) Audit & Risk Tenure: 4 years

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MICHAEL NOSSAL Committee Memberships People & Performance Sustainability Tenure: 0.5 year

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KATHLEEN BOZANIC Committee Memberships Audit & Risk (Chair) Nomination & Governance Tenure: 2 years

KEITH SPENCE Committee Memberships Audit & Risk Nomination & Governance Sustainability (Chair) Tenure: 7 years

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PETER BRADFORD Managing Director & CEO Tenure: 7 years

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PETER BUCK Committee Memberships Nomination & Governance (Chair) People & Performance Tenure: 7 years

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XIAOPING YANG Committee Memberships Audit & Risk Sustainability Tenure: 0.5 year

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Board

Evolution of the Board continues

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New appointments during FY21

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MICHAEL NOSSAL

• Appointed 18 December 2020

• Senior mining executive with 35+ years’ industry experience

• Previously held roles with Newcrest, MMG, WMC Resources, Lundin, Nordgold

• Strong strategy & business development skills

Transitioning to Chair before end of 2021

XIAOPING YANG

• Appointed 1 December 2020

• Chemical Engineer with 30+ years’ experience in USA and Asia

• Most recently Chair and President of BP China, having held many executive roles with BP

• Experience in clean energy technologies, strategic business development, risk management and business in China

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Downstream energy markets and Asia business experience

Gender diversity to 43% female (post Chair transition) (FY20: 28%)

Average board tenure to 4 years (FY20: 5.4 years)

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Board Development

Ongoing work programs to ensure a high functioning Board

Gap analysis to improve the relevance/currency and effectiveness of the Board

Board Skills Matrix

Ongoing review of board composition to ensure optimal level of skills, experience and diversity

Board Composition

Education

Continuing Education Program

Commitment to supporting individual director development to develop and maintain the skills and knowledge needed to perform their role as directors effectively

Director Development Guidelines

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Governance Review

Comprehensive review completed in during FY21

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Review Purpose

Establish whether IGO’s corporate governance framework, policies and standards support the growth and evolution of the Company.

Outcomes

Board Committees were restructured to remove Risk from the Sustainability Committee and add as a responsibility for the Audit Committee.

Full review of the Corporate Governance Standards and board and committee charters

Enhanced compliance training across the business

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Remuneration

Total reward framework designed to incentivise and retain

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Competitive Total Fixed Short Term Incentive Long Term Incentive Remuneration Program Program • • Focused on attraction and Reward current year Retain and reward long-term retention of the best talent performance sustainable performance

• Retain and reward long-term sustainable performance

• • Align incentives with long term shareholder returns

• Focused on attraction and retention of the best talent

• •

• Regularly externally Opportunity benchmarked benchmarked annually

Continuously seeking to improve alignment with shareholders

Ongoing work to seek views from employees

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Incentive Program

Structured plan around performance related (at risk) remuneration

Short Term Incentive Program

Long Term Incentive Program

• Service Rights

• Payable 100% cash

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• Based on % of TFR

• FY20 + FY21 Performance Targets:

• Health, Safety, Environment & Community (15%)

• People & Culture (15%)

• Growth & Strategy (40%)

• Operating & Financial (30%)

• 50% vesting after 12 months

• 50% vesting after 24 months

• Performance Rights

• Performance Hurdles

  • Relative TSR

  • Absolute TSR

  • Reserve Growth per Share

  • EBITDA average margin

• Defined vesting schedules via TSR testing

• − 3 year service condition

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Conclusion

Environment, Social and Governance matters are a key focus for our business

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Strong ESG brand developed through industry leading performance and disclosure

Key focus on climate change, our people and communities and Board governance

Continuously looking for ways to improve IGO’s performance in all areas

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Cautionary Statements & Disclaimer

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• 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.

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