During the FY20 reporting period, the Company’s corporate governance practices have complied with the ASX recommendations in their entirety and the Board has made appropriate statements reporting on the adoption of each of the recommendations. Remuneration arrangements for the Board are comprehensively described in IGO's Annual Report. It is with great respect and gratitude that we thank Geoffrey Clifford who retired from the IGO Board in FY20, after serving for the past seven years. His contributions have been invaluable in helping shape IGO into the successful company we are today, delivering on our strategy and providing an integral role for effective and responsible decision- making at IGO. We are also pleased to welcome Kathleen Bozanic to the IGO Board as an Independent Non-executive Director. Kathleen brings an impressive range of skills and capabilities, including strong financial, accounting and commercial experience, strong strategic transformation and business planning skills, and a deep knowledge of compliance, governance, risk, and financial management. We are very much looking forward to the contribution that Kathleen’s varied experience will make to our Board. Executive Leadership Team Responsibility for IGO’s business processes and sustainability performance lie with the Managing Director and Chief Executive Officer, Mr Peter Bradford, and IGO’s Executive Leadership Team (ELT). The structure of the ELT is presented in IGO’s Annual Report. All IGO employees are accountable for contributing to the creation of value and enhancing our sustainability within their area of responsibility. IGO’s remuneration arrangements, including incentive payments, are variously applied to all IGO employees. The Managing Director and Chief Executive Officer’s performance is measured against metrics relating to financial and operational performance, the execution of our growth strategy and the sustainability of our performance. Remuneration arrangements for the ELT are comprehensively described in IGO’s Annual Report. Our people have reciprocal duties to our business and to each other and we expect them to be accountable for both their actions and consequences. We treat each other and our stakeholders with respect and dignity. The IGO Code of Conduct is publicly available and can be found on our website. CORPORATE GOVERNANCE The IGO Board Responsibility for IGO’s strategic approach, risk appetite and governance lie with IGO’s Board and Executive Leadership Team. While the Board of Directors is ultimately responsible for the Company’s corporate governance, we do not see governance as just a matter for the Board. We believe good governance is about doing the right thing and having the courage to stand up for what is right. It is the responsibility of all those who work at IGO to act ethically, with integrity and within the law, and this ethos is embedded throughout the organisation. IGO’s Board defines, approves, and monitors a clearly articulated and documented governance framework. They review and benchmark our structure and processes to ensure they support effective and ethical leadership, good corporate citizenship and sustainability. The governance framework provides strategic guidance and appropriate delegation of authority such that there are clear accountabilities for regulating activities, including performance and risk management, and business improvement. The Board recognises the need to regularly review the framework as best practice evolves over time. Details of IGO’s Board members are published in IGO’s Annual Report. IGO’s Board is supported by four committees – Audit, Nomination & Governance, People & Performance and Sustainability & Risk. Each committee works within a Charter approved by the Board, which sets out the roles and responsibilities, composition, structure and membership requirements. Individual committee charters can be found on our website at www.igo.com.au and detailed information on each committee is published in IGO’s Annual Report. IGO completes an annual review of governance documents to ensure they are kept up to date and in line with industry best practice. These documents include: • Code of Conduct • Dealing in Securities Standard • Continuous Disclosure and Information Standard • Whistleblower Standard • Anti-Bribery and Corruption Standard • Diversity and Equal Opportunity Standard • Privacy Standard IGO Group’s Governance Standards can be found on our website. Annually, IGO issues a Corporate Governance Statement to the ASX outlining the Company’s current corporate governance framework. The statement provides comparative reference to the Corporate Governance, Principles and Recommendations of the ASX Corporate Governance Council (ASX Recommendations). This Statement can be found on our website. IGO OPERATIONAL EXCELLENCE PLAN Purpose and Values Code of Conduct Group Policies Common Management System Standards Function Standards Sustainability Human Resources Financial IT Governance New Business EXECUTIVE LEADERSHIP TEAM STAKEHOLDERS BOARD CHIEF EXECUTIVE OFFICER AUDIT COMMITTEE NOMINATION & GOVERNANCE COMMITTEE PEOPLE & PERFORMANCE COMMITTEE SUSTAINABILITY & RISK COMMITTEE A good example of continual improvement in our management system is the IGO Operational Excellence Plan. Operational Excellence is about aligning people and systems to deliver a continuous steam of value and eliminate waste and deficiencies in processes, driving improvements and efficiencies. We aim to build a culture of Operational Excellence through a tailored, fit-for-purpose program based on everyday practice at all levels, aligned with our business strategies. Most importantly, it is about ‘working smarter’ and knowing what to focus on. There are six key elements of the Operational Excellence Program: • Operational Excellence projects Having a pipeline where projects are generated, evaluated and screened to the strategic objectives of our Nova Operation and IGO. • Rapid improvement events (Kaizen events) These events focus the creativity and teamwork of those employees closest to a significant yet manageable issue to define improved procedures and systems that resolve the issue. The team does this over three to five days by systematically thinking through the whole process related to the key issue in a learning, non-judgemental and non-blaming environment. • Operational Excellence capability development To achieve and sustain Operational Excellence and consistently deliver improvements, we need to equip our people with the right tools, continued coaching support and an action-orientated mindset. • Operational Excellence for leaders Setting the tone from the top is critical in driving and embedding a culture of Operational Excellence . • Operational Excellence idea boards Idea boards focus on improving processes by using employee creativity to track and implement improvement ideas, while leveraging opportunities and ideas at all levels. These are championed by leaders to convert low effort, high return ideas into action – the 'just do it' projects. • Management Operating System (MOS) The MOS needs to ensure there are adequate escalation and cascading mechanisms for translating plans into actions and for driving processes in terms of adding value, decision making and time. 2. Measure 3. Analyse 4. Improve 5. Control 1. Define OPERATIONAL EXCELLENCE Staff led self improvement cycles 34 — IGO SUSTAINABILITY REPORT 2020 IGO SUSTAINABILITY REPORT 2020— 35 BUSINESS INTEGRITY