Sustainability Report 2021

IGO’s corporate assurance program is comprised of an internal and external audit, operational reviews and inspections. External audit is primarily targeted at financial management and is completed in accordance with the law and recognised accounting standards. IGO’s internal audit process is based on the progressive review of those elements of the IGO management operating system that control high-risk business processes, inclusive of, but not limited to, internal financial control and ESG management. In October 2020, the Board approved the change in the committee’s structures to remove the responsibility of risk from the Sustainability Committee and add it to the Audit Committee. Our corporate assurance program is overseen by the Audit & Risk Committee. All sustainability related risks are overseen by the Sustainability Committee which is governed by the Audit & Risk Committee to monitor how these risks are being managed by the Company. For more detail on the responsibilities and key activities undertaken by the Sustainability Committee in the 2021 financial year refer to the 2021 Annual Report and the table on page 85 of this report. In FY21, IGO’s financial audit was completed by BDO Audit (WA) Pty Ltd, as detailed in the 2021 Annual Report. In FY21, the IGO internal audit program was coordinated by Enumerate. Given the diverse range of matters to be addressed by our non-financial audit, from internet security to geotechnical controls within an underground mine, IGO engages specific subject matter experts as required to complete these internal audits. In FY20, while IGO’s corporate assurance program identified numerous opportunities for improvement, none were deemed to be material to the governance and sustainable operation of our business. However, from the improvement opportunities identified, corrective actions have been prioritised and work is ongoing. The Audit & Risk Committee has oversight of IGO’s fraud control plan. The efficacy of this plan is tested as part of the corporate assurance program. In FY21, no acts of fraud of any type were identified. However, like most businesses, IGO is vigilant to potential cyber-security threats. As such, we strengthened our IT systems to help mitigate cyberattacks seeking to leverage COVID-19 impacts and bypass normal defences and procedures. IGO is committed to maintaining an open and honest working environment in which our people can report potential misconduct concerns, without fear of reprisal or detrimental treatment. IGO’s Whistleblower Standard enables our people, suppliers, contractors, tenderers and/or any other person who has business with IGO to report confidentially any significant concerns about the business or behaviour of individuals. This could include suspicion around business integrity and corporate governance, financial reporting, safety and environmental concerns or human rights. In FY21, no cases were raised through the IGO whistleblower process. Statutory Compliance In FY21, IGO was not subject to legal action or prosecution. IGO’s corporate assurance program continues to test the business’ compliance with the law. During the financial year, IGO was subject to a penalty of A$110,143 for a breach of our exploration tenement conditions (previously reported in FY20) following a workplace inspection of the exploration tenements on our Fraser Range exploration project. In January 2020, the Western Australian Department of Mines, Industry Regulation and Safety (DMIRS) identified that IGO was non-compliant with regards to three tenement conditions. These included the standard six-month rehabilitation timeframe, the removal of rubbish and waste and the condition to ensure holes and excavations are made safe or filled. IGO’s investigation into the circumstances leading to this breach identified deficiencies in our internal systems. Our response is ongoing, and work programs and improvement plans are disclosed on page 75 of this report. Business Integrity Independent Assurance (External and Internal Auditors) STAKEHOLDERS IGO Board Managing Director & CEO Executive Leadership Team 7 PILLARS OF SUSTAINABILITY Audit & Risk Committee Nomination & Governance Committee People & Performance Committee Sustainability Committee 86 —IGO SUSTAINABILITY REPORT 2021