Mineral Resources and Ore Reserves

TABLE 1 — IGO total Mineral Resources on 31 December 2019/20

Year ending	Mining operation	Mass (Mt)	Grades				In situ metal
			Ni	Cu	Co	Au	Ni	Cu	Co	Au
			(%)	(%)	(%)	(g/t)	(kt)	(kt)	(kt)	(koz)
CY19	Nova (100%)	11.6	2.01	0.81	0.07	—	234	94	8	—
	Tropicana (30%)	38.6	—	—	—	1.70	—	—	—	2,106
	CY19 total	50.2	~ Grades are not additive ~				234	94	8	2,106
CY20	Nova (100%)	11.8	1.76	0.71	0.06	—	208	84	7	—
	Tropicana (30%)	43.5	—	—	—	1.64	—	—	—	2,292
	End of CY20 total	55.3	~ Grades are not additive ~				208	84	7	2,292
CY20/CY19	Nova (100%)	102%	87%	88%	87%	—	89%	89%	88%	—
% ratio	Tropicana (30%)	113%	—	—	—	96%	—	—	—	109%
	CY20/CY19	110%	~ Grades are not additive ~				89%	89%	88%	109%

TABLE 2 — IGO total Ore Reserves on 31 December 2019/20

Year ending	Mining operation	Mass (Mt)	Grades				In situ metal
			Ni	Cu	Co	Au	Ni	Cu	Co	Au
			(%)	(%)	(%)	(g/t)	(kt)	(kt)	(kt)	(koz)
CY19	Nova (100%)	9.5	1.85	0.78	0.07	—	177	74	6	—
	Tropicana (30%)	16.9	—	—	—	1.67	—	—	—	909
	CY19 total	26.4	~ Grades are not additive ~				177	74	6	909
CY20	Nova (100%)	9.0	1.82	0.77	0.07	—	163	69	6	—
	Tropicana (30%)	14.7	—	—	—	1.71	—	—	—	808
	End of CY19 total	23.7	~ Grades are not additive ~				163	69	6	808
CY20/CY19	Nova (100%)	94%	98%	99%	98%	—	92%	93%	92%	—
% ratio	Tropicana (30%)	98%	—	—	—	102%	—	—	—	89%
	CY20/CY19	90%	~ Grades are not additive ~				92%	93%	92%	89%

IGO would like to acknowledge and pay respects to Traditional Owner groups whose land we are privileged to work on, and whose input and guidance we seek and value within the operation of our business. We acknowledge the strong, special physical and cultural connections to their ancestral lands.

MAKING A
DIFFERENCE