Consolidated statement of changes in equity For the year ended 30 June 2022 Consolidated balance sheet As at 30 June 2022 Consolidated balance sheet As at 30 June 2022 Notes 2022 $M 2021 $M ASSETS Current assets Cash and cash equivalents 7 367.1 528.5 Trade and other receivables 8 119.8 82.4 Inventories 9 82.5 34.0 Financial assets at fair value through profit or loss 10 126.8 110.9 Derivative financial instruments 21 49.0 2.8 Total current assets 745.2 758.6 Non-current assets Investments accounted for using the equity method 26 1,994.5 1,856.0 Property, plant and equipment 13 115.0 34.1 Right-of-use assets 14 55.6 24.7 Mine properties 15 1,583.7 804.1 Exploration and evaluation expenditure 16 242.2 100.5 Deferred tax assets 5 26.6 30.7 Financial assets at fair value through other comprehensive income 10 81.6 - Other non-current assets 0.8 - Total non-current assets 4,100.0 2,850.1 TOTAL ASSETS 4,845.2 3,608.7 LIABILITIES Current liabilities Trade and other payables 11 149.2 47.3 Borrowings 17 176.5 - Lease liabilities 14 20.1 4.4 Current tax liabilities 77.0 172.0 Provisions 12 17.2 8.7 Total current liabilities 440.0 232.4 Non-current liabilities Borrowings 17 713.5 - Lease liabilities 14 37.3 20.6 Provisions 12 82.2 47.3 Deferred tax liabilities 5 137.0 108.5 Total non-current liabilities 970.0 176.4 TOTAL LIABILITIES 1,410.0 408.8 NET ASSETS 3,435.2 3,199.9 EQUITY Contributed equity 18 2,641.8 2,648.6 Reserves 19(a) 747.6 505.5 Retained earnings 19(b) 45.8 45.8 TOTAL EQUITY 3,435.2 3,199.9 The above consolidated balance sheet should be read in conjunction with the accompanying notes. IGO Limited 4 Consolidated statement of changes in equity For the year ended 30 June 2022 Contributed equity $M Retained earnings $M Reserves $M Total equity $M Balance at 1 July 2020 1,897.1 9.8 18.9 1,925.8 Profit for the year - 548.7 - 548.7 Other comprehensive income Effective portion of changes in fair value of cash flow hedges, net of tax - - 1.7 1.7 Total comprehensive income for the year - 548.7 1.7 550.4 Transfer of 30 June 2021 profits - (483.2) 483.2 - Transactions with owners in their capacity as owners: Dividends paid - (29.5) - (29.5) Share-based payments expense - - 4.9 4.9 Issue of shares - Employee Incentive Plan 3.2 - (3.2) - Share placement and institutional entitlement offer 765.8 - - 765.8 Costs associated with share placement (net of tax) (11.7) - - (11.7) Acquisition of treasury shares (5.8) - - (5.8) Balance at 30 June 2021 2,648.6 45.8 505.5 3,199.9 Contributed equity $M Retained earnings $M Reserves $M Total equity $M Balance at 1 July 2021 2,648.6 45.8 505.5 3,199.9 Profit for the year - 330.9 - 330.9 Other comprehensive income Effective portion of changes in fair value of cash flow hedges, net of tax - - 6.3 6.3 Changes in financial assets at fair value through other comprehensive income, net of tax - - (1.4) (1.4) Share of other comprehensive income of associate - - 14.6 14.6 Total comprehensive income for the year - 330.9 19.5 350.4 Transfer of 30 June 2022 profits - (330.9) 330.9 - Share of other equity of associate - - 2.3 2.3 Transactions with owners in their capacity as owners: Acquisition of treasury shares (10.1) - - (10.1) Dividends paid - - (113.6) (113.6) Share-based payments expense - - 6.3 6.3 Issue of shares - Employee Incentive Plan 3.3 - (3.3) - The above consolidated statement of changes in equity should be read in conjunction with the accompanying notes. Consolidated statement of changes in equity For the year ended 30 June 2022 (continued) Contributed equity $M Retained earnings $M Reserves $M Total equity $M Balance at 30 June 2022 2,641.8 45.8 747.6 3,435.2 88 — IGO ANNUAL REPORT 2022 IGO ANNUAL REPORT 2022 — 89
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