Sustainability Report 2021

Climate change is a material topic and strategic focus for our business, integrated into all levels of risk management and corporate governance. We have well established structures and processes to ensure we operate with integrity and conduct business in accordance with our values. IGO’s value ‘See Beyond’ drives our commitment to addressing climate change – we know that our actions today will impact the world of tomorrow. Ethical corporate governance and risk management are key enablers to optimising our climate resilience and delivering on our climate change strategy. Our risk identification and management processes include climate change- related impacts and opportunities. We have deepened our resilience assessment to consider a wider range of impacts and timeframes and used scenarios to stress-test our resilience, particularly in relation to physical climate change risks. This resulted in an improved understanding of the range of risks and opportunities which may apply to our current and future business and a refined mitigation and adaptation focus. We will continue to build on our management actions and risk mitigation plans, with the development of our emissions reduction roadmap and the use of an internal and shadow carbon price. We will continue actively monitoring our climate change resilience as external developments and our own asset portfolio evolves. CLIMATE CHANGE FORMS PART OF OUR GOVERNANCE Our culture and our purpose Climate change response and decarbonisation of society is a central element of our purpose. Chair & CEO message Our response to climate change and carbon neutral strategy are addressed by the IGO Chair and CEO in the Sustainability and Annual Reports. Climate Change policy IGO has a climate change policy guiding our response and management of climate change and emissions. Board Sustainability Committee Climate change is treated as a Board-level governance issue through the Sustainability Committee. This includes regularly reviewing climate change risks and opportunities, and the approval of our TCFD disclosure and climate change strategy. The Board were involved in climate change education sessions during the financial year and have oversight on the programs of work to ensure continual improvement of our climate change reporting. Executive Leadership Team The ELT routinely considers climate change driven market and technologies aligned to our Company strategy. IGO’s Chief Operating Officer holds core accountability for strategic leadership and governance of sustainability related matters, including climate change and decarbonisation performance. Sustainability forms 20% of the ELT Key Performance Indicators (KPIs) for FY22, of which 5% is linked to the delivery of our decarbonisation strategy as part of the Company’s Short-Term Incentive Program (STIP) and executive remuneration. Governance & Risk Management Governance Climate change is a material topic and strategic focus that is routinely incorporated into Board discussions, strategy meetings, investment decisions, risk management oversight and monitoring, performance targets and executive remuneration for FY22. The Board’s Sustainability Committee oversees and monitors IGO’s risk framework and management systems in relation to sustainability areas and has a number of associated responsibilities, including regularly reviewing climate change risks, business critical risks and ensuring that new and emerging risks are dealt with adequately. The Committee Charter explicitly requires climate change-related risks to be incorporated into this process and discussed at Committee meetings when relevant matters arise. The Board approves our climate change policy and has clear oversight in the delivery of GHG targets and strategies. The Sustainability Committee met six times in FY21, with one session specifically targeting board education on climate change risks and opportunities. IGO’s Executive Leadership Team routinely considers climate change driven market and technology developments as driven by IGO’s strategic aspiration to become a globally relevant supplier of metals critical to energy storage and renewable energy. IGO’s Chief Operating Officer holds a core accountability for strategic leadership and governance of sustainability related matters, including climate change. In FY22, performance against climate change-related goals will be explicitly included in IGO’s Executive Remuneration Plan. Sustainability forms 20% of the ELT Key Performance Indicators (KPIs) for FY22, of which 5% is linked to delivery of our decarbonisation plan as part of the Company’s Short-Term Incentive Program (STIP). Non-financial measures related to growth of our business and strategy are also included (40% of short- term incentive); these measures inherently include clean-energy drivers linked to climate change as embedded in our business strategy. At our Nova Operation, several roles are involved in the monitoring and optimisation of energy use, water, emissions and other climate change- related performance, including the Mining Manager, Processing & Maintenance Manager, HSEC Manager and Business Improvement Superintendent. Across our exploration activities, the HSEC & Logistics Manager role is responsible for similar operating considerations. Our Response to Climate Change 64 —IGO SUSTAINABILITY REPORT 2021