2021 Annual Report

Corporate Governance Strategy Executive Leadership STEM Industry Specific – Upstream Industry Specific – Downstream Marketing and Quality Control Auditing and/or Financial Reporting Risk Management Governance Organisational Culture People, Wellbeing, Inclusion and Diversity Health and Safety Innovation and Clean Energy Technologies Globalisation, International, China cross border Strategic Entrepreneurship M&A and/or Funding Capital Projects Technology, Digital Transformation and/or Cyber Security Environmental and Tailings Climate and Decarbonisation Stakeholder Relations and/or Activism Legal Regulatory and/or Public Policy BOARD COMMITTEES The Board has established four Committees that are structured in accordance with the ASX Recommendations and enable the Board to effectively discharge its responsibilities. The Committees report on discussions held and make recommendations to the Board at the succeeding Board meeting. In line with IGO’s ongoing policy and commitment to best practice corporate governance, in October 2020 the Board approved the change in the committee structures to transfer oversight responsibilities in relation to the Company’s Risk Management System to the Audit Committee. Each Committee works within a Charter that outlines the roles and responsibilities of the Committee and its members. All Charters were reviewed and updated for best practice in FY21. Further information about governance at IGO as well as copies of the Board and Committee Charters can be found in the Governance section of IGO’s website at https://www.igo.com . au/site/our-business/governance. 2021 CORPORATE GOVERNANCE STATEMENT The Company’s 2021 Corporate Governance Statement outlines the Company’s current corporate governance framework, by reference to the Corporate Governance Principles and Recommendations contained in the ASX Corporate Governance Council’s 4th Edition of its Corporate Governance Principles and Recommendations (ASX Recommendations). During FY21, the Company’s corporate governance practices complied with all relevant ASX Recommendations in their entirety. The Corporate Governance Statement is current as at 31 August 2021 and has been approved by the Board. This statement can be found in the Governance section of IGO’s website at http://www.igo.com.au/site/ourbusiness/governance along with the ASX Appendix 4G, a checklist cross-referencing the ASX Recommendations to disclosures in the Corporate Governance Statement and the 2021 Annual Report. BOARD SKILLS MATRIX In FY21, a comprehensive board skills review was conducted as part of the annual Board evaluation to identify the key skill areas for the Board to discharge its responsibilities in accordance with the highest standards of governance whilst executing IGO’s long-term strategy. The Board and ELT then conducted an assessment of the optimum mix of these skills on the Board. The results of this review were evaluated to ascertain whether there were any skill gaps that would need to be addressed through succession planning and/or professional development programs. The combination of skills and experience were chosen due to the strategic direction of the Company as well as the risks, opportunities, challenges and developments related to the mining industry and the Company’s business. Following the review, it was determined that the Board currently have a strong combination of desired skills and experience. Nevertheless, to ensure the Board has the necessary skills for the future with regard to IGO’s long-term strategy, it was recognised that there are a number of areas where the ability, knowledge and diversity of thought could be broadened through future board renewal and ongoing education sessions. IGO’s board skills matrix shows how many Directors have a deep knowledge and experience in each area taking into consideration their many years of direct experience. Expert – Deep knowledge / formal qualification or experience over many years Moderate – Moderate skills / experience – knowledgeable but not highly skilled Aware – Some knowledge and can follow a discussion BOARD SKILLS MATRIX 34 — IGO ANNUAL REPORT 2021