2021 Annual Report

Service rights under the Company’s EIP Service rights issued under the Company’s EIP are granted following the determination of the final STI performance result for the performance year. The service rights component of the STI vest in two tranches, with the first tranche of 50% vesting on the 12 month anniversary of the award date, and the second tranche of 50% vesting on the 24 month anniversary of the award date. The Executive KMP do not receive any dividends and are not entitled to vote in relation to the service rights during the vesting period. If an Executive KMP ceases employment before the service rights vest, the service rights will be forfeited, except in limited circumstances that are approved by the Board on a case-by-case basis. The fair value of the service rights is determined based on the 5-day VWAP of the Company’s shares after release of IGO’s annual financial statements. Grant date Vesting % Vesting date Grant date value $ 2 October 2020 50 1 September 2021 4.46 50 1 September 2022 4.46 14 October 2019 50 1 September 2020 5.88 50 1 September 2021 5.88 5 October 2018 50 2 September 2019 4.21 50 1 September 2020 4.21 9 October 2017 50 3 September 2018 3.51 50 2 September 2019 3.51 IGO ANNUAL REPORT 2021— 67