Slide 1: FY23 Results Presentation
FY23 Results Presentation IGO Limited 31 August 2023 IGO LIMITED IGO | ASX: LIMITED IGO
Slide 2: Cautionary Statements & Disclaimer
Cautionary Statements & Disclaimer • This presentation has been prepared by IGO Limited (“IGO”) infrastructure. Where such a reference is made, it should be sold) per tonne sold are inclusive of ore mining costs, (ABN 46 092 786 304). It should not be considered as an offer read subject to this para
Slide 3: FY23 Sustainability Highlights
FY23 Sustainability Highlights Committed to a safe, sustainable and diverse business Community • ~$800k in corporate giving contributions for FY23 • $8.3M spend with Aboriginal owned and managed businesses Diversity • Continuing to cultivate a diverse workforce, with 27% female representation and 2%
Slide 4: FY23 Financial and Operational Summary
FY23 Financial and Operational Summary Record financial results supported by the strength of our lithium business Record NPAT, Underlying EBITDA and Free Cash Flow Record dividend received from TLEA of over $1.1 billion Strong operational performance from Greenbushes and Nova Kwinana Train 1 ramp-up
Slide 5: FY23 Financial Results Summary
FY23 Financial Results Summary Record financial performance driven by outstanding contribution from Greenbushes Units FY23 FY22 YoY Greenbushes performance drove strong increase in Underlying EBITDA Total Revenue A$M 1,024 903 ▲13% Share of Net Profit of TLEA A$M 1,604 177 ▲808% $1,987M ↑177% YoY Un
Slide 6: Financial Results
Financial Results IGO has established a track record of financial performance Total Revenue1 (A$M) Underlying EBITDA (A$M) 1,024 1,987 889 915 903 177% 785 717 460 475 341 FY19 FY20 FY21 FY22 FY23 FY19 FY20 FY21 FY22 FY23 Net Profit After Tax (A$M) Underlying Free Cash Flow (A$M) 3 5492 549 1,098 Ga
Slide 7: FY23 Cash Flows
FY23 Cash Flows Exceptional dividends from TLEA drives strong cash build Cash – YoY Movement1 A$M 2,000 1,800 101 55 12 45 1,600 55 1,400 540 1,200 1,184 1,000 144 69 185 800 317 600 518 400 775 200 367 - Opening Nova free Forrestania Cosmos Dividends Exploration, Corporate Net Net finance Net Repay
Slide 8: FY23 NPAT
FY23 NPAT Record NPAT result despite impact of impairment charge Underlying NPAT – YoY Movement and bridge to statutory NPAT1 A$M 2,000 1,800 171 111 111 11 1,600 20 6 28 31 31 4 1,400 1,427 1,200 968 1,000 800 1,528 600 11 400 549 200 404 - Underlying TLEA Joint Nova Forrestania Cosmos Depreciation
Slide 9: Capital Management
Capital Management Updated policy reflects our growing business Capital Management Policy Sustaining Seeks to balance reliable and consistent Capital Shareholder Special return of capital to shareholders with Returns Dividend, Share Buybacks balance sheet strength & flexibility for Exploration Targe
Slide 10: Shareholder Returns
Shareholder Returns Record dividend payments declared for FY23 Dividend history 80 200 560 200 Final Final FY23 FY23 Dividend 44c Dividend: 44c per per share share (fully (fully franked) franked) 180 70 16 160 Special FY23 Special Dividend16c Dividend: perper 16c share (fully share franked) (fully f
Slide 11: Greenbushes
Greenbushes Outstanding FY23 result with record financial returns to shareholders Greenbushes Production (100%) FY23 Highlights Addition of ~2.5Mtpa Spodumene production Cash Costs (production) ↑31% YoY CGP3 & CGP4 1.49Mt $244/t Underlying EBITDA (100% basis) ~1.5Mtpa $9.51Bn ↑606% YoY | Margin: 91%
Slide 12: Kwinana Refinery
Kwinana Refinery Train 1 performance delayed, but rectification works are progressing Train 1 FY23 production of 1,884t of lithium hydroxide was below expectation due to operational challenges Rectification works are being progressed, with production ramp-up expected to continue during FY24 Train 2
Slide 13: Nova & Forrestania Operations
Nova & Forrestania Operations Strong cash flow generation over FY23 FY23 Highlights FY24 Strategic Priorities • Ongoing optimisation programs to improve production and reduce costs Group Nickel Production • Continue to unlock value through product blending 34,846t opportunities • Advancing sustainab
Slide 14: Cosmos
Cosmos Project development progressed | Project review underway FY23 Highlights FY24 Strategic Priorities Significant project development including: • Complete independent project review to identify risks and opportunities and deliver optimum value Completion of aerodrome Processing plant constr
Slide 15: Exploration
Exploration Exploration work continues, aimed at unlocking new discoveries FY24 Exploration budget of $65M - $75M Ni Nickel • Nova, Cosmos & Forrestania • Fraser Range Project Targeting magmatic and komatiitic • Kimberley Project nickel sulphide deposits • Irindina Project Cu Copper • Paterson Proje
Slide 16: Concluding Remarks
Concluding Remarks Record financial results as IGO continues to pursue its clean energy strategy Outstanding financial results in FY23 with record NPAT, underlying EBITDA and free cash generation Greenbushes continues to perform strongly, with a significant growth pathway ahead Kwinana Train 1 ramp
Slide 17: Making a Difference
Making a We believe in a world where people power makes How? Developments in battery storage technology amazing things happen. are enabling the full potential of renewable energy to be realised, by allowing energy produced from the Where technology opens up new horizons and clean sun, wind and other
Slide 18: Appendix: FY24 Guidance
Appendix: FY24 Guidance Lithium Business FY24 Guidance Greenbushes Lithium Mine Spodumene Production (100%) kt 1,400 – 1,500 Cash Costs (Production)1 A$/t 280 – 330 Capex (Development, sustaining, improvement & deferred waste) A$M 850 – 950 Kwinana Lithium Hydroxide Refinery Lithium Hydroxide Produc
Slide 19: Appendix: FY24 Guidance
Appendix: FY24 Guidance Nickel Business Nickel Production Copper Production Cobalt Production Cash Costs Capex (t) (t) (t) (A$/lb Ni) (A$M) Nova 21,500 – 23,500 8,500 – 10,000 700 – 800 3.40 – 3.90 14 – 18 Forrestania 7,500 – 9,000 N/A N/A1 9.50 – 10.50 16 – 22 Cosmos Cosmos guidance is expected to
Slide 20: Making a Difference
Making a We believe in a world where people power makes How? Developments in battery storage technology amazing things happen. are enabling the full potential of renewable energy to be realised, by allowing energy produced from the Where technology opens up new horizons and clean sun, wind and other