IGO Annual Report 2022

FY22 Snapshot 2 Chair’s Message 5 CEO’s Message 7 Celebrating 20 Years 8 CFO Report 10 Our Strategy 12 Operations and Exploration 16 Our Sustainable Business 40 Corporate Governance 47 Directors’ Report 57 Remuneration Report 59 Financial Report 85 Contents Who We Are IGO Limited is an ASX 100 listed Company focused on creating a better planet for future generations by discovering, developing and delivering products critical to clean energy. We are a purpose-led organisation with strong, embedded values and a culture of caring for our people and our stakeholders. We believe we are Making a Difference by safely, sustainably and ethically delivering the products our customers need to advance the global transition to decarbonisation. Through our upstream mining and downstream processing assets, IGO is enabling future-facing technologies, including the electrification of transport, energy storage and renewable energy generation. IGO’s nickel business includes the Nova and Forrestania Operations and Cosmos Project, all of which are located in Western Australia. Nova and Forrestania are operating underground mining and processing operations, while Cosmos is a development stage project with first production expected mid-2023. Our lithium interests are held via our 49% interest in Tianqi Lithium Energy Australia Pty Ltd (TLEA), an incorporated joint venture with Tianqi Lithium Corporation (Tianqi). TLEA owns upstream and downstream lithium assets, including a 51% stake in the Greenbushes Operation and a 100% interest in a downstream processing refinery at Kwinana in Western Australia to produce battery grade lithium hydroxide. IGO is also focused on discovering the mines of the future and has an enduring commitment to investing in exploration to ensure the world has a sustainable supply of clean energy metals into the future. Our Values Our Purpose Making a Difference 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 generations 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 products 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? Developments in battery storage technology are enabling the full potential of renewable energy to be realised, by allowing energy 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 products needed for tomorrow’s battery systems, we are making it happen. We are the IGO Difference. Our Strategy Informed by our purpose, our strategy is to become a globally relevant supplier of metals-based products that are critical for clean energy – to create a better planet. We are committed to delivering this strategy by: • producing a diverse suite of products made safely, ethically, sustainably and reliably • connecting with end users through vertical integration • committing to being carbon neutral; and • engaging with our people who are bold, passionate, fearless and fun – a smarter, kinder, more innovative team. About This Report This Annual Report is a summary of IGO and its subsidiary companies’ operations, activities and financial position as at 30 June 2022. All dollar figures are expressed in Australian dollars (AUD) unless otherwise stated. Our purpose of Making a Difference drives our sustainable business. The seven pillars of our sustainability framework can be found on page 40, together with a summary of each pillar. Further detail on each pillar can be found in our 2022 Sustainability Report. IGO completed the acquisition of Western Areas Limited (Western Areas) on 20 June 2022. Due to only having control of these assets for 10 days prior to year end there is limited reporting included in this Annual Report. The assets will be incorporated in full in our next Annual Report. This report includes certain non-IFRS financial measures, including underlying measures of EBITDA and free cash flow. The meanings of individual non-IFRS measures used in this report are set out in the Glossary on page 160. Non-IFRS measures should not be considered as alternatives to an IFRS measure of profitability, financial performance or liquidity. Be Better Together We empower, support and respect each other. We act safely and with care, to the strengths of our people. Ignite The Spark We seek, question, innovate and create. We know that without a burning curiosity and bright thinking, we risk missing the really big opportunities. See Beyond We know that our actions today will impact the world of tomorrow. We believe our people, community and the environment really matter. Run Through The Sprinklers We find the fun in what we do. When our workplaces are healthier and happier, we are better. Never Stand Still We are bold, adventurous and excited for the future. We imagine new opportunities and seek new horizons. IGO ANNUAL REPORT 2022— 1

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