Igo Limited · ASX:IGO
Igo — Shareholder Meeting (November 2022)
37 slides from Igo's shareholder meeting presentation, Nov 17, 2022
Slide 1: 2022 Annual General Meeting
For personal use only 2022 Annual General Meeting Acting Chief Executive Officer – Matt Dusci 17 November 2022 IGO LIMITED
Slide 2: Our Strategy
Our Strategy Our Purpose of Making a Difference has underpinned our strategy For personal use only IGO Limited | 2022 Annual General Meeting Page 2
Slide 3: Our Transformation
Our Transformation A business 100% focused on clean energy metals For personal use only DIVERSIFIED (GOLD & BASE METALS FOCUS) CLEAN ENERGY METALS FOCUS Rebuild of exploration Divestment of Jaguar Tianqi Lithium Joint Venture Acquisition of Nova Acquisition team & portfolio Operation Investment West
Slide 4: Our Portfolio
Our Portfolio Diverse, Australian based clean energy metals portfolio with a pipeline of growth For personal use only • Nova (Ni, Cu, Co) • Forrestania (Ni) Production • Greenbushes (Li2O) • Kwinana (LiOH) • Cosmos Development • Greenbushes (Expansion) • Kwinana (Train 2) • Silver Knight Studies • N
Slide 5: Key Achievements in FY22
Key Achievements in FY22 Another highly successful year For personal use only Delivered outstanding results from our lithium business Enhanced our nickel portfolio via the acquisition of Western Areas Progressed exploration and growth projects along the value curve Generated record financial results
Slide 6: Market Update
For personal use only Market Update IGO Limited | 2022 Annual General Meeting Page 6
Slide 7: Electric Vehicles
Electric Vehicles Electrification of the global vehicle fleet is progressing quickly For personal use only Projected EV demand and market share1 Million Vehicles Market share (%) 30 20 EV sales rates proving to be resilient against recent 18 macroeconomic headwinds 25 16 14 20 12 Demand increasingly
Slide 8: Lithium-ion Batteries
Lithium-ion Batteries EV demand is driving significant new metal demand For personal use only Lithium-ion battery metal demand outlook1 Forecast EV driven demand growth 2022 – 2030e 1 Million metric tons 10 9 8 Lithium 6x 7 6 5 4 Nickel 4x 3 2 1 0 Copper 4x 2020 2022e 2024e 2026e 2028e 2030e Cobalt
Slide 9: Lithium Market
Lithium Market A rapidly evolving market For personal use only Lithium Market Balance (kt)1 CY22 CY23 CY24 CY25 CY26 CY27 CY28 CY29 CY30 0 EV/battery demand remains positive despite global economic slowdown -20 -40 -60 New lithium supply challenged by lack of exploration, development timeframes and
Slide 10: Nickel Market
Nickel Market Near term surplus transitions quickly into deficits For personal use only Primary Nickel Supply/Demand Balance 1 200 Indonesian supply will drive surpluses until 2025 150 100 50 New nickel supply needed from ~2026 onward as EV demand exceeds supply 0 -50 -100 1.5Mt nickel needed from n
Slide 11: People, Culture and Community
For personal use only People, Culture and Community IGO Limited | 2022 Annual General Meeting Page 11
Slide 12: Safety
Safety Improving safety performance is a key focus for FY23 For personal use only TOTAL RECORDABLE INJURY FREQUENCY RATE (TRIFR)1 22 21 Despite lower rates of serious injury, recent safety 20 performance has been disappointing 19 18 17 Revised safety strategy focused on 4 key themes: 16 15 • Leaders
Slide 13: Culture
Culture Our unique culture is a key enabler of our strategy For personal use only Our culture of ‘care’ has helped immensely in recent months We believe in the value of a diverse and inclusive team Our strong levels of employee engagement are a direct reflection of our commitment to active culturing
Slide 14: Community
Community Engaging with our community For personal use only High levels of engagement with Traditional Owners Reconciliation Action Plan in progress Proudly committed to our Corporate Giving program which provided support for initiatives involved with child health and education IGO Limited | 2022 An
Slide 15: Sustainability & Decarbonisation
For personal use only Sustainability & Decarbonisation IGO Limited | 2022 Annual General Meeting Page 15
Slide 16: Sustainability
Sustainability Continued focus on industry leading performance and reporting For personal use only IGO Limited | 2022 Annual General Meeting Page 16
Slide 17: Decarbonisation
Decarbonisation Clear and tangible plan to remove carbon from our business For personal use only Second solar farm + battery storage at Nova set to decrease carbon emissions by 24% Internal carbon price expected to raise $7M - $10M over FY23 to fund decarbonisation projects High levels of engagement
Slide 18: Financial Results
For personal use only Financial Results IGO Limited | 2022 Annual General Meeting Page 18
Slide 19: FY22 Financial Results
FY22 Financial Results Building on our track record of strong financial performance For personal use only Revenue1 Underlying EBITDA (A$M) 889 915 903 717 778 784 460 475 413 422 339 341 138 151 FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY16 FY17 FY18 FY19 FY20 FY21 FY22 Net Profit After Tax (A$M) Underlyi
Slide 20: FY22 Dividend
FY22 Dividend 10c per share fully franked dividends paid during FY22 For personal use only Dividend History Cents per share A$M 12 80 76 76 70 10 65 59 60 5 8 5 50 6 8 40 10 30 4 6 20 18 5 2 2 10 2 1 0 0 FY18 FY19 FY20 FY21 FY22 Interim Dividend (lhs) Final Dividend (lhs) Total Dividend Payment (rhs
Slide 21: Lithium Business
For personal use only Lithium Business IGO Limited | 2022 Annual General Meeting Page 21
Slide 22: Greenbushes Lithium Mine
Greenbushes Lithium Mine World-class hard rock lithium operation For personal use only World’s largest, highest grade and lowest cost hard rock lithium operation 24+ year mine life with potential to transition to underground mining FY23 Production Guidance (kt): 1,350 – 1,450 FY23 Cost Guidance (A$/
Slide 23: Greenbushes
Greenbushes Strong progress toward delivering next phase of growth For personal use only Greenbushes – Growth in Processing Capacity (Mtpa spodumene) FY22 Achievements Expected Commissioning in CY27 Chemical Grade Plant 2 Fully ramped to nameplate Expected Commissioning 0.5 in CY25 Substantively ram
Slide 24: Kwinana Lithium Hydroxide Refinery
Kwinana Lithium Hydroxide Refinery Progressing toward commercial production from Train 1 For personal use only Battery grade product successfully produced from Train 1 with good conversion rates TLEA team have been diligently working through rectifications required to deliver improved plant availabi
Slide 25: Kwinana Lithium Hydroxide Refinery
Kwinana Lithium Hydroxide Refinery Lithium hydroxide capacity set to grow over the coming years For personal use only Lithium Hydroxide Production Capacity (ktpa) (100%)(1) Option to add Train 3 Final Investment Decision on Train 2 expected imminently and 4 in the future Expected to 24ktpa 96ktpa co
Slide 26: Nickel Business
For personal use only Nickel Business IGO Limited | 2022 Annual General Meeting Page 26
Slide 27: Our Nickel Business
Our Nickel Business Production, development, exploration and downstream studies For personal use only Nova Forrestania Cosmos Exploration Downstream High quality, low cost Operating underground High quality development Focused on discovery of Opportunity to value add nickel production asset nickel m
Slide 28: Nickel Business
Nickel Business Integration of Forrestania and Cosmos progressing to plan For personal use only Key Strategic Action Items IGO’s Nickel Portfolio Maximising value through optimisation and Integration leveraging synergies Cosmos Delivering a safe and sustainable project Securing new offtake agreement
Slide 29: Nova
Nova Strong operational and financial performance over FY22 For personal use only Units FY22 Result FY22 Guidance FY22 Production within guidance, with cash costs better than guidance Nickel in concentrate t 26,675 25,000 – 27,000 Elevated nickel prices over FY22 drove record Copper in concentrate t
Slide 30: Cosmos
Cosmos Project Revised Development Plan delivers a safe and sustainable operation For personal use only Cosmos – Underground Schematic Key Outcomes: • Expansion of process plant to 1.1Mtpa • Completion of shaft and infrastructure • Complete additional underground development (incl. AM6) • Strengthen
Slide 31: Downstream Nickel
Downstream Nickel Assessing the opportunity to become vertically integrated For personal use only Feasibility Study underway with Wyloo Metals with completion expected by mid-2024 Significant opportunity to capture value and increase connectivity to battery and precursor industries Potential to co-l
Slide 32: Exploration & Discovery
For personal use only Exploration & Discovery IGO Limited | 2022 Annual General Meeting Page 32
Slide 33: Exploration Strategy
Exploration Strategy Seeking to unlock the mines of the future For personal use only A$75M budget for FY23 across our extensive portfolio Primarily focused on nickel sulphide, sediment-hosted copper, lithium and rare earths Applying the best science, technology and expertise to unlock organic growth
Slide 34: Summary
For personal use only Summary IGO Limited | 2022 Annual General Meeting Page 34
Slide 35: Priorities for FY23
Priorities for FY23 Multiple opportunities to drive value and Make a Difference For personal use only Continue to ensure delivery of growth opportunities within our lithium business Maximise our nickel business through group synergies, offtake and operational excellence. Maintain our commitment to e
Slide 36: Cautionary Statements & Disclaimer
Cautionary Statements & Disclaimer For personal use only • This presentation has been prepared by IGO Limited (“IGO”) applications and approvals, construction, financing • Nickel cash costs are reported inclusive of royalties and after (ABN 46 092 786 304). It should not be considered as an offer ar
Slide 37: Making a Difference
For personal use only 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 cle