Sustainability Report 2021

Emissions Reduction Programs Across Our Business During FY21, we undertook a detailed portfolio analysis to understand our current emissions profile (Scope 1 and 2 emissions) and identify decarbonisation opportunities and requirements to achieve our carbon neutral targets. This included engagement with our workforce through a series of facilitated workshops across the Company. From the workshops, 49 emission reduction ideas were identified across the supply/ energy generation, demand/energy consumption, and GHG capture/offsets space. These ideas were shortlisted into 12 emission reduction projects that have the ability to reduce our direct Scope 1 and 2 emissions. From this program of work, four projects will be targeted and implemented in FY22. These projects, detailed opposite, are expected to reduce our Company Scope 1 and 2 emissions by 10% from our FY20 baseline. While we identified more abatement options that will rapidly decarbonise our Nova Operation, we have continuing challenges to improve the commercial returns and technology readiness of the abatement projects, particularly given the remaining mine life at our Nova Operation. The commercial returns of the abatement projects were also subject to our internal carbon price of A$60/t, however, this did not have a large influence over the marginal abatement cost curve in the short to medium-term. Although decarbonisation opportunities at our Nova Operation are limited by our life of mine and the current commercial availability of low emission technology, we are committed to investment in key strategic technology projects (research and development) to position IGO for future success. This is a key part of the decarbonisation of our future operations, aligned to our broader Company strategy, and will be leveraged to future growth and discovery. The key strategic research and development projects (R&D) include: • static Battery Storage • underground Electric Fleet; and • baseline wind renewable energy studies. This project includes the retrofit of all secondary ventilation fan starter boxes with telemetry modules to enable remote start/stop from surface mine control. Secondary fans can therefore be switched off. Large reductions in secondary fan operating hours will drive cost savings and emission reductions. We are investing in hybrid, mobile, off-grid power generation systems for our exploration projects and camps. By replacing traditional diesel- powered generators with modular hybrid solar and battery storage systems, we can reduce our diesel dependence and associated emissions. The Nova solar farm is currently underperforming due to inverter issues, with a current shortfall of approximately 3.3MWh per annum. We will work with Zenith to ensure solar can be optimised to 90% of theoretical output. Whilst major investments are being made into new technologies and materials for improving energy efficiency, there are a number of human-related factors that also need to be addressed. We need to target cultural and behaviour changes in our energy transition and ensure we build the right culture aligned to our carbon neutral strategy. Some of our actions will include awareness raising and trainings, being essential tools for changing behaviour – the introduction of new information and ways of thinking takes time, as well as feedback and reinforcement, to cause long-term reorientation towards new actions, which can become habits. Our people can make a real difference and accelerate our roadmap to carbon neutrality. SAVING OF ~ 4,500t CO 2 -e per annum SAVING OF ~ 380t CO 2 -e per annum SAVING OF ~ 1,300t CO 2 -e per annum SAVING OF ~ 800t CO 2 -e per annum Solar Optimisation Hybrid generators – exploration Culture and behaviour changes Ventilation on Demand IGO SUSTAINABILITY REPORT 2021— 61