Sustainability Report 2021

Supplying Products Critical to Clean Energy IGO’s strategy is focused on contributing to a better planet through the discovery, development and delivery of products critical to clean energy. We do this through our upstream mining and downstream processing assets. The strategy is underpinned by the requirement to decarbonise society and the ambition articulated by the Paris Agreement. When we talk about clean energy we refer to: Case Study: FBICRC Collaboration The technologies that make our IGO strategy a global reality are fast evolving and we have chosen to play a significant role in Australia’s green energy technology development by becoming a core participant in the Future Battery Industries Cooperative Research Centre (FBICRC). The FBICRC has an ambitious six-year research and development program targeting all segments of the battery value chain: the policy and governance framework for battery industries; the processes for extraction, refining and processing of raw materials and advanced battery component materials, and their recycling; and the testing, manufacture and deployment of battery components and systems. IGO have identified the following six programs that align with the Company’s strategies. These programs are also expected to offer IGO new technology insights across a range of disciplines and provide staff development opportunities that will enable IGO to embrace the technology and market shifts in the clean energy metal value chain. This collaborative partnership ensures IGO will be at the forefront in battery innovation, and further strengthens our participation in global battery value chains. It demonstrates the importance of collaboration in optimising our business value. Cu Renewable Energy Generation Renewable energy generation is requiring the build-out of the renewable energy grid which is seeing the demand for copper grow. Cu Co Ni Li Renewable Energy Storage Capture of the energy from renewable energy generation requires energy storage from new battery technologies. This shift is lifting demand for copper, nickel, lithium and cobalt. Cu Co Ni Li Electrification of Transport Electric vehicle penetration rates continue to grow. Electric vehicles are forecast to contribute 39% of all new car sales by 2030. These electric vehicles will be powered by lithium-ion nickel dominant cathode chemical batteries. FBICRC Project Project Focus Process Legacy Maximise economically viable co-products and minimise repository use for mining and processing operations. Innovative Ni and Co-extraction Technologies New process development and technology scouting – economical alternative leach technologies for extraction of nickel and cobalt from waste streams. Cathode Precursor Production Pilot Plant in WA Increasing the value chain of battery manufacturing in Western Australia by developing a pilot plant and establishing technical and processing capabilities to manufacture nickel rich cathode active material precursors. Electrochemical Testing of Li-ion Battery Materials in Standard Cell Formats Technical marketing insights for future clean energy products, and the establishment of fabrication and electrochemical testing facility for lithium-ion battery materials. Demonstrating Market Advantage Through Certification and Life Cycle Analysis A quantified environmental basis to ensure traceable, sustainable production of Australian battery minerals, metals and materials. Battery Supported Mine Electrification Alignment with IGO’s strategy for the proactively green mines of the future – a holistic systems approach to mine electrification with batteries deployed in stationary and mobile applications. The metals and specialty products that we produce, including nickel, copper, cobalt and lithium, are used to enable clean energy. As society shifts towards a low carbon future, demand for our products is expected to grow rapidly. Our Response to Climate Change 56 —IGO SUSTAINABILITY REPORT 2021