2021 Annual Report

Notes to the consolidated financial statements 30 June 2021 (continued) 6 Earnings per share (continued) (b) Diluted earnings per share 2021 Cents 2020 Cents From continuing operations attributable to the ordinary equity holders of the company 17.13 14.54 From discontinued operation 63.38 11.59 Total diluted earnings per share attributable to the ordinary equity holders of the Company 80.51 26.13 (c) Earnings used in calculating earnings per share 2021 $'000 2020 $'000 Basic and diluted earnings per share Profit attributable to the ordinary equity holders of the Company used in calculating basic and diluted earnings per share: From continuing operations 116,766 86,307 From discontinued operation 431,895 68,786 548,661 155,093 (d) Weighted average number of shares used as the denominator 2021 Number 2020 Number Weighted average number of ordinary shares used as the denominator in calculating basic earnings per share 678,552,539 590,747,969 Adjustments for calculation of diluted earnings per share: Share rights 2,946,123 2,894,952 Weighted average number of ordinary and potential ordinary shares used as the denominator in calculating diluted earnings per share 681,498,662 593,642,921 (e) Information concerning the classification of securities Share rights Performance rights granted to Executives and employees under the Company's Employee Incentive Plan and any outstanding service rights are included in the calculation of diluted earnings per share as they could potentially dilute basic earnings per share in the future. The share rights are not included in the determination of basic earnings per share. Further information about the share rights is provided in note 28. (f) Calculation of earnings per share (i) Basic earnings per share Basic earnings per share is calculated by dividing: • the profit attributable to owners of the Company, excluding any costs of servicing equity other than ordinary shares, • by the weighted average number of ordinary shares outstanding during the financial year, adjusted for bonus elements in ordinary shares issued during the year and excluding treasury shares (note 18(b)). (ii) Diluted earnings per share Diluted earnings per share adjusts the figures used in the determination of basic earnings per share to take into account: • the after income tax effect of interest and other financing costs associated with dilutive potential ordinary shares; and • the weighted average number of additional ordinary shares that would have been outstanding assuming the conversion of all dilutive potential ordinary shares. IGO Limited 12 Notes to The Consolidated Financial Statements 30 June 2021 90 — IGO ANNUAL REPORT 2021