IGO Interactive Annual Report 2019

SHARE PRICE PERFORMANCE 2 1 See Notes to Glossary of Terms for definitions 2 As at market close 23 August 2019 3 FY18 represented the first year of commercial production at Nova and first production of cobalt in the IGO portfolio. HIGHLIGHTS FY19 $M FY18 $M FY17 $M Total revenue and other income 793 781 422 Underlying EBITDA 1 341 339 151 Profit after tax 76 53 17 Net cash flow from operating activities 372 278 78 Underlying free cash flow 1 278 138 (113) Total assets 2,190 2,175 2,208 Cash 348 139 36 Marketable securities 28 24 15 Total liabilities 341 396 476 Shareholders’ equity 1,849 1,779 1,733 Net tangible assets per share ($ per share) $3.13 $3.03 $2.95 Dividends per share paid – fully franked (cents) 4.0 2.0 3.0 FY19 FINANCIAL SUMMARY IGO HISTORICAL PAYABLE METAL NICKEL (t) GOLD (oz) COPPER (t) COBALT (t) 3 The historical payable metal charts represent five years of contribution from IGO’s current operations and historical contributions from the Long and Jaguar operations that are no longer in our portfolio. In FY19 all nickel, copper and cobalt was derived from Nova with all gold contributed from the Tropicana JV (IGO 30% share). AT A GLANCE FY19 SNAPSHOT IGO achieved record revenue and underlying EBITDA during the 2019 financial year. The successful delivery of the second year of commercial production at Nova exceeded production guidance, and the continuing strong performance from Tropicana comfortably met production guidance. The performance of our two core assets generated underlying free cash flow of $278M and net profit after tax of $76M. These outstanding financial results reflect the quality of our world class asset portfolio and our people, who are focused on delivering high margin products made safely, ethically, sustainably and reliably. NOVA'S PRODUCTION Nova’s second year of commercial production exceeded the top end of metal production guidance with production of 30,708t nickel and 13,693t copper. TROPICANA PRODUCTION Tropicana delivered 518,172oz of gold production on a 100% basis. EXPLORATION ACTIVITY Substantial exploration activity continued across the IGO portfolio. NEW DEVELOPMENT Development of the Boston Shaker Underground mine commenced at Tropicana in May 2019. SMART SOLUTIONS Construction of a six-megawatt hybrid diesel-solar plant commenced at Nova. PORTFOLIO Further portfolio rationalisation with divestment of the Long Operation. FY19 FY18 FY17 FY16 FY15 20,000 25,000 5,000 10,000 15,000 - 200,000 150,000 100,000 50,000 - FY19 FY18 FY17 FY16 FY15 15,000 12,000 9,000 6,000 3,000 - FY19 FY18 FY17 FY16 FY15 400 250 100 350 200 50 300 150 - FY19 FY18 FY17 FY16 FY15 2 — IGO ANNUAL REPORT 2019