2021 Annual Report

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. WHOWE 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. As 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 owns and operates 100% of the Nova nickel-copper-cobalt operation in Western Australia and is invested in a lithium focused joint venture (Lithium JV) with our partner, Tianqi Lithium Corporation, which comprises a 51% stake in the Greenbushes Lithium Mine and 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. About This Report This annual report is a summary of IGO and its subsidiary companies’ operations, activities and financial position as at 30 June 2021. All dollar figures are expressed in Australian dollars unless otherwise stated. You will notice in this years’ report we have introduced our sustainability model, see page 28. This model is built on seven pillars to drive engagement and outcomes across the Company. This is centred around our purpose, Making a Difference. We recognise environmental, social and governance (ESG) and commercial issues are often connected; they are part of a system that is constantly evolving. This model highlights the interconnectedness of each of these pillars in achieving our overall business strategy. These seven pillars are summarised in this report, however more detail on each pillar can be found in our 2021 Sustainability Report. Non-IFRS: 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 140. Non-IFRS measures should not be considered as alternatives to an IFRS measure of profitability, financial performance or liquidity. ACKNOWLEDGEMENTS We acknowledge the Traditional Owners of the land on which we operate and on which we work. We recognise their connection to land, waters and culture, and pay our respects to their Elders past, present and emerging. We would like to thank Neil Warburton who retired from the IGO Board in FY21 for his significant contribution to IGO over the last five years. We are also pleased to welcome two new appointments to the Board, Xiaoping Yang as a Non-executive Director and Michael Nossal as a Non-executive Director who transitioned to the Chair role on 1 July 2021. We would also like to take this opportunity to thank Peter Bilbe, who was appointed to the IGO Board in 2009, for his substantial contribution to the Company. Over his tenure, Peter has overseen the positive transformation of IGO, culminating in the announcement on 30 June 2021 of the completion of the transaction with Tianqi Lithium Corporation. IGO will continue to benefit from Peter’s input as a Non-executive Director until the 2021 AGM. IGO is proud to report the Australasian Reporting Awards (ARA) awarded IGO’s 2020 Annual Report a Gold Award in the 2021 ARA General Award.