100% focused on clean energy metals FY22 Snapshot Financial Summary Benefited from significant growth within our Lithium Business Receipt of first dividend from TLEA following a year of strong production growth and progress on planned expansion projects. Delivered on our commitment to our people Maintained high level of employee engagement through our holistic approach to health and wellbeing, by continuing to develop our benefits programs and effectively managing the impact of COVID-19. Sustainability Highlights Our lithium business, owned and operated via the TLEA joint venture, in which IGO hold a 49% interest, delivered an outstanding year of growth, with the acceleration of expansion projects at the Greenbushes Operation (IGO: 24.99%, via TLEA: 51%) and the successful commissioning of the Kwinana Lithium Hydroxide Refinery (Kwinana Refinery or Refinery) (IGO: 49%, via TLEA: 100%) with first production of battery grade lithium hydroxide achieved in May 2022. The TLEA portfolio represents a truly integrated lithium business which is well positioned to supply battery grade lithium hydroxide to the global lithium‑ion battery supply chain. Production growth, together with a significant appreciation in lithium product pricing, saw TLEA generate excellent financial results and deliver a net profit of $176.7 million (IGO’s share) together with an inaugural dividend to IGO. We also delivered growth within our nickel business. Underpinned by the consistently strong performance from our Nova Operation, IGO successfully acquired Group Revenue $903M ( 34%1) Net Profit After Tax Underlying Free Cash Flow $331M ( 40%2) $312M ( 14%) Acquisition of Western Areas IGO acquired Western Areas by way of a Scheme of Arrangement, with Western Areas shareholders receiving $3.87 per share cash consideration. Consistent operating performance at Nova $1.95/lb Nova production within guidance, while cash costs of $1.95/lb cemented Nova’s position as the lowest cost nickel operation in Australia. Ni (payable) 1. From continuing operations 2. FY21 NPAT included gain on sale of Tropicana of $385M. Western Areas in late June 2022. This transaction enhances IGO’s nickel resources and reserves, and diversifies our nickel business to include operating, development, feasibility and exploration assets, all of which are substantially located in Western Australia. In parallel to integrating the Western Areas assets into the IGO business, we have commenced a program of work to understand the opportunity to invest in downstream processing to produce nickel sulphate, another key material in the production of lithium-ion batteries. Importantly, IGO retained its focus on our people throughout this busy and successful period, ensuring we continue to foster our unique culture and focus on attracting and retaining the best people to our business. Our people, on an unwavering and consistent basis, have shown their commitment and resilience throughout FY22, delivering on our strategy and rising to the ongoing challenges of COVID-19. In FY22, IGO maintained its focus on building a globally relevant business focused on clean energy metals. We were proud to be included in the Dow Jones Sustainability Index Australia for the third year running and in the S&P Sustainability Yearbook for the second year running. IGO ANNUAL REPORT 2022— 3 2 —IGO ANNUAL REPORT 2022
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