IGO Interactive Annual Report 2019

ORGANIC GROWTH THROUGH EXPLORATION DISCOVERY Exploration and discovery are core to the IGO DNA and a key pillar of our Company growth strategy. During FY19, we further strengthened our in-house team and realigned our portfolio of projects to maintain a clear focus on delivering to the new IGO strategy. Our diverse exploration team has a wide breadth of experience and expertise in the search for and discovery of commodities critical to clean energy such as nickel, copper and cobalt. We also remain attentive to other commodity opportunities that can add significant value. In FY19, we made significant progress in consolidating our ground position at our most prospective belt-scale exploration projects, including the Fraser Range and West Kimberley regions of Western Australia. We also have belt-scale greenfield opportunities in the Northern Territory at the expanded Lake Mackay Project and the new 100%-owned Raptor Project, the Yeneena Option in Western Australia, the Copper Coast Project in South Australia, and the Frontier Project in Greenland. For FY20, we reaffirm our strong and enduring commitment to organic growth through both brownfields and greenfields exploration, maintaining a strong level of investment in the Fraser Range and our other emerging nickel and copper projects. A feature of our exploration investment in FY20 will be a large proportion of drill testing, which collectively represents more than 70% of the planned Nova, Fraser Range and Lake Mackay exploration spend. PROJECTS / EXPLORATION OPPORTUNITIES FRASER RANGE PROJECT (Ni, Cu & Co) (various partnerships) Regional geochemical sampling, geophysical surveying and drilling. Regional aircore drilling and geophysical programs have identified numerous anomalous results requiring RC and/or diamond drill testing. LAKE MACKAY JV (Cu, Au, Ni, Co) (70%) Unlocking a new unexplored mineral province in the Northern Territory. Regional geochemical sampling, airborne and ground electromagnetic surveys and drilling have identified several new mineralised prospects. WEST KIMBERLEY JV (Ni, Cu, Co) (up to 80%) New belt-scale project targeting magmatic Ni-Cu-Co. Airborne electromagnetic survey completed. Regional aeromagnetic and radiometric survey, prospect scale geophysics, geological mapping surface sampling and drilling planned. RAPTOR PROJECT (Ni, Cu, Co) (100%) New belt-scale project targeting Ni-Cu-Co sulphides along the Willowra Gravity Ridge, Northern Territory. Regional aeromagnetic and radiometric surveys undertaken, and additional surveys planned. YENEENA JV OPTION (Cu, Co) (up to 70%) New sediment-hosted Cu-Co project with existing prospects in the Paterson Province, Western Australia. COPPER COAST Regional magnetotelluric survey and possible drilling. FRONTIER PROJECT, GREENLAND (Cu, Co) (up to 80%) Earn-in/JV Option on belt-scale project targeting Zambia-style Cu-Co. Traverse mapping and sampling of prospective domains underway. DE BEERS DATABASE Unique sample database. New multifaceted project generation initiative to unlock value. REGIONAL EXPLORATION & DEVELOPMENT 26 — IGO ANNUAL REPORT 2019