IGO Interactive Annual Report 2020

DIRECTORS’ REPORT— REMUNERATION REPORT 30 JUNE 2020 DIRECTORS’ REPORT— REMUNERATION REPORT 30 JUNE 2020 Shareholdings of KMP The number of ordinary shares in the Company held by each Director and other KMP, including their personally related entities, are set out below. Name Balance at the start of the year Received during the year on vesting or exercise of service rights Other changes during the period Balance at the end of the year Directors Debra Bakker 16,085 - 5,602 21,687 Peter Bilbe 40,000 - - 40,000 Kathleen Bozanic - - 11,780 11,780 Peter Bradford 1,000,000 - (354,000) 646,000 Peter Buck 22,200 - - 22,200 Geoffrey Clifford 15,000 - (15,000) - Keith Spence 22,125 - - 22,125 Neil Warburton 106,034 - - 106,034 Other key management personnel Keith Ashby 15,068 5,271 - 20,339 Kate Barker 4,115 - - 4,115 Matt Dusci 41,360 - - 41,360 Andrew Eddowes 111,083 14,112 (14,112) 111,083 Joanne McDonald 10,094 8,599 (18,693) - Sam Retallack 29,662 - - 29,662 Ian Sandl 2,503 - - 2,503 Scott Steinkrug 119,411 - (45,000) 74,411 Total 1,554,740 27,982 (429,423) 1,153,299 Whilst IGO does not have a formal policy stating a minimum shareholding in IGO shares for Directors, a guideline on this subject was adopted by the Company in FY18. The guideline states, that in order to achieve a greater alignment with shareholder interests, Non-executive Directors are encouraged to hold shares in the Company. IGO is committed to achieving greater diversity throughout the business and this includes the membership of the Board of Directors. To this end, the Board of Directors acknowledges that each current or future Non-executive Director may have different personal circumstances. As such, no minimum shareholding requirement has been set in order to maximise the Company’s opportunity to achieve the broadest range of diversity of Directors on the Board. Accordingly, Non-executive Directors are encouraged to acquire and hold shares in IGO commensurate with their personal circumstances. Further, IGO acknowledges that each current and future KMP may also have different personal circumstances. As such, no minimum shareholding requirement has been set for KMP in order to maximise the Company’s opportunity to achieve the broadest range of diversity at a senior leadership level. (V) Other transactions with KMP During the current financial year, there were no other transactions with KMP or their related parties. (VI) Voting of shareholders at last year’s annual general meeting IGO Limited received more than 99% of “yes” votes on its Remuneration Report for the 2019 financial year. The Company sought feedback throughout the year on its remuneration practices through communications with key shareholders and proxy advisors. This feedback included advice on continuing to provide the current level of transparency within the Remuneration Report and ensure remuneration across the business reflects the strategic direction of the Company. END OF AUDITED REMUNERATION REPORT SHARES UNDER OPTION At the reporting date, there were no unissued ordinary shares under options, nor were there any ordinary shares issued during the year ended 30 June 2020 on the exercise of options. INSURANCE OF OFFICERS AND INDEMNITIES During the financial year, the Company paid an insurance premium in respect of a contract insuring the Directors and executive officers of the Company and of any related body corporate against a liability incurred as such a Director or executive officer to the extent permitted by the Corporations Law. The contract of insurance prohibits disclosure of the nature of the liability and the amount of the premium. The Company has not otherwise, during or since the end of the financial year, indemnified or agreed to indemnify any officer of the Company or of any related body corporate against a liability incurred by such an officer. PROCEEDINGS ON BEHALF OF THE COMPANY No person has applied to the Court under section 237 of the Corporations Act 2001 for leave to bring proceedings on behalf of the Company, or to intervene in any proceedings to which the Company is a party, for the purpose of taking responsibility on behalf of the Company for all or part of those proceedings. The Company was not a party to any such proceedings during the year. NON-AUDIT SERVICES The Company may decide to employ the auditor on assignments additional to their statutory audit duties where the auditor’s expertise and experience with the Company and/or the Group are important. Details of the amounts paid or payable to the auditor (BDO Audit (WA) Pty Ltd) for non-audit services provided during the year are set out below. The Directors are satisfied that the provision of the non-audit services is compatible with the general standard of independence for auditors imposed by the Corporations Act 2001 . The Directors are satisfied that the provision of non-audit services by the auditor did not compromise the auditor independence requirements of the Corporations Act 2001 nor the principles set out in APES110 Code of Ethics for Professional Accountants. During the period the following fees were paid or payable for non-audit services provided by the auditor of the parent entity, its related practices and non-related audit firms: 2020 $ 2019 $ Other services BDO Audit (WA) Pty Ltd firm: Other services in relation to the entity and any other entity in the consolidated Group 43,500 1 20,000 Total remuneration for non-audit services 43,500 20,000 1. Other services relate to review of the 2019 Sustainability Report, Independent Limited Assurance Report relating to Bidder’s Statement for Panoramic Resources Ltd, Form 5 Expenditure Audits, BDO Secure Reporting Line and tax services. AUDITOR’S INDEPENDENCE DECLARATION A copy of the auditor’s independence declaration as required under section 307C of the Corporations Act 2001 is set out on page 72. ROUNDING OF AMOUNTS The Company is of a kind referred to in ASIC Corporation Legislative Instrument 2016/191, issued by the Australian Securities and Investments Commission, relating to the ‘rounding off’ of amounts in the Directors’ Report. Amounts in the Directors’ Report have been rounded off in accordance with that Legislative Instrument to the nearest thousand dollars, or in certain cases, to the nearest dollar. This report is made in accordance with a resolution of Directors. PETER BRADFORD MANAGING DIRECTOR & CEO Perth, Western Australia Dated this 26 th day of August 2020 70 — IGO ANNUAL REPORT 2020 IGO ANNUAL REPORT 2020— 71