IGO SUSTAINABILITY REPORT 2020

NOVA OPERATION The Nova Operation is a greenfield high-grade nickel-copper-cobalt deposit located in the Fraser Range, approximately 140km east-north- east of Norseman. The operation sits within the Great Western Woodlands. The Ngadju people are the Traditional Owners and custodians of this area, with their native title claim being recognised by the Federal Court on 21 November 2014. The Nova deposit was discovered in 2012 and the operation reached nameplate ore production capacity in 2017. Mining is conducted using underground stoping methods and processing is conducted using conventional crushing, grinding, flotation and filtration methods. TROPICANA OPERATION The Tropicana Operation is located on the western edge of the Great Victoria Desert, making it one of the most isolated mining operations in Western Australia. The Wongatha and Spinifex peoples are the Traditional Owners and custodians of the land. The open pit mining method, which is employed at Tropicana, produces from up to four contiguous pits, which extend approximately 5km in strike length. The processing methodology involves conventional crushing, grinding and carbon-in-leach recovery. Tropicana achieved its three million- ounce milestone in FY20, seven years after the first gold was poured at the site. The Boston Shaker Underground Mine is currently being developed with commercial production remaining on track to commence in the September 2020 quarter. REGIONAL EXPLORATION AND DEVELOPMENT Exploration and discovery are a key pillar of IGO’s growth strategy. We are continuing to pursue strategic step-change organic growth through our portfolio of belt-scale exploration projects in Australia and overseas, to unlock the mines of the future and consolidate our position in clean energy markets. In FY20, we made significant progress consolidating our ground position at our prospective belt-scale projects, including the Fraser Range, Kimberley and Paterson regions of Western Australia, and the Lake Mackay and Raptor projects of the Northern Territory. Some of our exploration activity was delayed in 2020 due to COVID-19 and the Government-mandated access restrictions relating to remote communities. Field programs in these locations will begin to resume in the September 2020 quarter. MINERAL TITLES In FY20, IGO continued to consolidate our ground positions at our belt-scale exploration projects. IGO’s current exploration tenement holdings cover approximately one per cent of Australia’s land area, however, our total landholdings have decreased over the last 12 months due to a reduction in the Fraser Range and Greenland exploration licence packages. These changes were the result of an improved understanding of opportunities at these projects. We have increased our land tenure in both the Kimberley and Paterson projects, with exploration licences again representing the majority of mineral tenements held by IGO. A breakdown of total landholdings is presented below: IGO landholdings by mineral tenement (hectares) FY20 FY19 FY18 FY17 Prospecting licences 0 400 1,780 2,480 Exploration licences 3,088,649 1 3,992,640 1,356,880 1,596,600 Mining leases 4,670 4,670 36,295 49,254 Miscellaneous and other licences 4,072 4,054 752,883 286,969 Freehold 2 0 0 721 1,329 Total IGO landholdings 3 3,097,391 4,001,764 2,148,559 1,936,632 1. Figure includes the Greenland Exploration Licences, which reduced to 554,230 hectares in FY20. 2. Freehold land previously reported was associated with the Long Operation, which was divested on 31 May 2019. 3. Figure includes IGO managed tenure, including joint venture landholdings as at 30 June. WESTERN AUSTRALIA FRASER RANGE Ni, Cu, Co IGO 100% and various JVs Targeting magmatic nickel-copper-cobalt deposits within the Albany Fraser Orogen. Activities included: • extensive drilling of targets; • ongoing regional RC/AC drilling; and • continuation of electrical geophysics program. PATERSON Cu, Co, Au IGO 100% and various JVs Newly consolidated, belt-scale project targeting Tier-1 copper-cobalt and copper-gold deposits in a highly prolific mineral province. Activities included: • a large-scale magnetotelluric survey; and • geochemical analysis of surface soil samples. KIMBERLEY Ni, Cu, Co IGO 100% and various JVs Belt-scale project targeting magmatic nickel-copper-cobalt sulphide deposits along the Halls Creek and Wunaamin-Miliwundi Ranges. Activities included: • airborne magnetic and radiometric surveys; and • engagement with Traditional Owners. NORTHERN TERRITORY LAKE MACKAY Cu, Au, Ni, Co IGO up to 70% Targeting base metals deposits in an unexplored mineral province. Activities included: • RC drilling of prospects; • regional geochemical soil sampling; and • bench scale leach testwork of cobalt-nickel samples collected from Grimlock. RAPTOR Ni, Cu, Co IGO 100% Belt-scale project targeting nickel-copper-cobalt sulphide deposits along the Willowra Gravity Ridge in the Northern Territory. Activities included: • aeromagnetic and radiometric surveys. SOUTH AUSTRALIA COPPER COAST Cu IGO 100% Targeting sediment-hosted copper mineralisation on the Stuart Shelf. Activities included: • a regional ground gravity survey; • a regional magnetotelluric line; and • planning for future geophysics and stratigraphic drilling programs. GREENLAND FRONTIER Cu IGO up to 80% Joint Venture targeting sediment-hosted copper deposits in geological setting analogous to the Central African Copper belt. Activities included: • the first field season during which geological mapping and geochemical sampling provided data for drill target definition. PROJECTS AND EXPLORATION OPPORTUNITIES IGO SUSTAINABILITY REPORT 2020— 13 12 — IGO SUSTAINABILITY REPORT 2020 OVERVIEW