Slide 1: IGO Limited FY21 Results Presentation
IGO Limited FY21 Results Presentation 31 August 2021
Slide 2: Cautionary Statements & Disclaimer
Cautionary Statements & Disclaimer • This presentation has been prepared by IGO Limited (“IGO”) (ABN 46 092 786 304). It should not be considered as an offer or invitation to subscribe for or purchase any securities in IGO or as an inducement to make an offer or invitation with respect to those secu
Slide 3: Our Transformation
Our Transformation We have transformed our business and the way we work Transformed Outlook Transformed Culture Transformed ESG Historic and Projected EBITDA (A$M)1 1200 1000 800 600 400 200 0 Long (A$M) Jaguar (A$M) Tropicana (A$M) Nova (A$M) Greenbushes (A$M) Kwinana Hydroxide (A$M) 1. Source: Mac
Slide 4: Our Journey
Our Journey Deliberate transformation of our business to focus on clean energy metals 4
Slide 5: Our Strategy
Our Strategy Our Purpose, Making a Difference, has underpinned our strategy 5
Slide 6: FY21 Highlights
FY21 FY19Highlights and 4Q19 Highlights Strong operational & financial performance | Clean energy metals transition complete FY21 Financial Results Summary Nova production better than guidance and cash costs well below guidance Revenue2 A$919M (▲3% vs FY20) Underlying EBITDA A$475M (▲3% vs FY20) Com
Slide 7: FY21 Results
FY21 Results Record results across all key financial metrics Revenue1 (A$M) 300 NPAT (A$M) 5492 1000 892 919 250 900 778 784 800 200 700 1642 155 600 150 500 413 423 400 100 76 300 53 200 50 17 100 0 0 FY16 FY17 FY18 FY19 FY20 FY21 FY16 FY17 FY18 FY19 FY20 FY21 -50 -59 -100 Underlying Free Cash Flow
Slide 8: FY21 Cash Flow
FY21 Cash Flow Balance sheet strength maintained post transformational transactions FY21 Cash Flow Waterfall A$M 3,000 2,500 2,000 906 1,855 1,500 749 1,000 68 66 27 32 5 393 24 57 6 30 4 500 510 529 - Opening cash Nova Free Tropicana Exploration & Investments & Corporate & Acquisition & Net proceed
Slide 9: FY21 Dividend & Capital Management
FY21 Dividend & Capital Management Final fully franked dividend in line with revised Shareholder Returns Policy Capital Allocation Framework Revised Shareholder Returns Policy Underlying Free Cash Flow 15% – 25% 75% – 85% Higher returns possible above Final Dividend declared A$500M liquidity 10c per
Slide 10: Nova
Nova Metal production and cash costs all better than guidance FY21 FY21 Production & Costs Result Guidance Nickel in concentrate (t) 29,002 27,000 – 29,000 Copper in concentrate (t) 13,022 11,000 – 12,500 Cobalt in concentrate (t) 1,084 850 – 950 Cash Costs (A$/lb Ni payable) A$1.85 A$2.40 – A$2.801
Slide 11: Nova
Nova Operational performance continues to deliver strong financial outcomes Nova Production & Cash Costs Nova Financial Performance A$/lb A$M Tonnes 9,000 A$2.25 A$2.50 700 669 8,000 A$2.10 593 600 A$1.83 A$2.00 7,000 504 500 6,000 436 405 A$1.50 393 400 5,000 A$1.28 349 351 335 321 4,000 7,887 300
Slide 12: Nova Guidance
Nova Guidance FY22 Nova Guidance FY22-24 Nova Guidance1 kt A$/lb 30.0 3.00 Metric Units FY22 Guidance 25.0 2.50 Nickel in concentrate t 25,000 to 27,000 20.0 2.00 Copper in concentrate t 11,500 to 12,500 15.0 1.50 Cobalt in concentrate t 900 to 1,000 10.0 1.00 Cash cost (payable) A$/Ib Ni 2.00 to 2.
Slide 13: Tropicana
Tropicana Successfully divested in FY21 FY21 Production and Cost Results1 Divestment to Regis Resources for A$889M Metric Units Result Gold produced (100%) oz 364,751 Successful partnership with Gold Sold (IGO 30%) oz 110,402 AngloGold Ashanti over ~20 years Cash cost A$/oz 1,081 AISC A$/oz 1,720 Co
Slide 14: Lithium Joint Venture
Lithium Joint Venture Transformational transaction to form global lithium joint venture with Tianqi1 First lithium hydroxide successfully produced at Kwinana Greenbushes expansion projects continuing (CGP2 + TRP) Developing disclosure framework with joint venture partners 1. Tianqi Lithium Corporati
Slide 15: Exploration Strategy
Exploration Strategy Committed to investing in growth through discovery FY22 Exploration Budget Lake Mackay Copper Coast Raptor A$9M Kimberley Project Nova & A$6M Fraser Range A$65M A$33M A$17M Paterson Project 15
Slide 16: Sustainability
Sustainability Continued our commitment to leading performance and transparency Dow Jones Sustainability Australia Index S&P Global 2021 Sustainability Yearbook ESG Reporting rated as “Leading” 16
Slide 17: Our Response to Climate Change
Our Response to Climate Change Accelerating our proactive response in FY22 Adopted an internal carbon price Scope 1 & 2 emissions reduction programs being implemented Investing in carbon removal and offsets programs in FY22 Commitment to understand controllable Scope 3 emissions 17
Slide 18: FY22 Focus
FY22 FY19Focus and 4Q19 Highlights Building our clean energy metals business Execute on Lithium JV growth opportunities Continue delivering operational excellence at Nova Maintain our commitment to unlocking value through exploration and discovery Continue to invest in growth and people Retain and b
Slide 19: Making a Difference
We believe in a world where people power makes amazing things happen. Where technology opens up. new horizons and clean energy makes the planet a better place for every generation to come. We are bold, passionate, fearless and fun - a smarter, kinder, more innovative company. Our work is making fund