Sustainability Report 2021

Case Study: Normet’s SmartDrive BEV Charmec As part of our commitment to improving performance, safety and driving our carbon neutral strategy across our business, IGO partnered with Barminco to trial the Normet Group Charmec MC 605 VE Smart Drive. This was our first heavy-duty battery electric vehicle (BEV) at Nova and was used as part of a three-month trial for explosive charging operations underground. This trial follows previous collaboration with Barminco, completing a successful pilot of a Safescape Bortana BELV (battery electric light vehicle) at our Nova Operation in FY20. This light vehicle was selected given its versatility and commonality across mine sites. It offered a low-risk, low- cost test to understand the possible safety, efficiency and sustainability benefits in an industrial setting, where learnings could be extrapolated to the bigger classes of equipment used in underground mines. Both pilots demonstrated a successful collaboration with a clear focus on innovation. Our assessment is that one of the most effective ways to both minimise emissions, achieve our carbon neutral strategy and improve safety and productivity will be through the future electrification of our mine plant and vehicles. The way we generate, store and harness energy around the globe is undergoing a period of major change. Mine electrification is a foundation enabler for the clean energy transformation of mine sites. IGO is one of 14 industry leaders and mining companies to initiate the Electric Mine Consortium, with the aim of reducing Scope 1 and 2 carbon emissions through the use of clean energy, large-scale storage and electric mining vehicles. Electrification creates enormous opportunities for operational cost savings, innovative mine designs and resilience against uncertainty. It will reduce the exposure to carcinogenic diesel particulates and reduce Scope 1 and 2 carbon emissions by 100%. The value upside of this not only increases productivity in existing assets, but also improves a company’s ability to unlock deeper and more remote ore bodies. The four goals of the consortium include: 1. resolving technology choices 2. shaping the supplier ecosystem 3. influencing policy; and 4. communicating the business case. Whilst the need for mine sites to shift to electrification is approaching consensus, technology uncertainty remains a significant challenge. The mass adoption of electrification technology and storage systems to power mine sites has so far been slow. As such, there are six focus challenges and working groups established through the Electric Mine Consortium. We are proud to support and be part of the Electric Mine Consortium and look forward to working collaboratively with our peers toward the decarbonisation and electrification of our industry. Case Study: Electric Mine Consortium Electrical Infrastructure Lack of understanding about the supporting infrastructure requirements for all electric equipment and vehicles Underground Haulage Zero carbon load and haul equipment is not yet commercially available or technically viable underground at Australian scale Surface & Long-Road Haulage Large-scale, zero carbon surface and offsite haulage vehicles are not yet commercially available or technically understood Mine Design Traditional asset design does not enable the realisation of the full benefits of mine electrification Light BEVs & Ancillary Equipment Economic and operating assumptions for light BEVs and ancillary equipment on site are unclear Energy Storage Mine-scale energy storage technologies are not yet operationally or economically proven in mining IGO SUSTAINABILITY REPORT 2021— 57