Slide 1: 1Q24 Results Presentation
1Q24 Results Presentation IGO Limited 30 October 2023 IGO LIMITED IGO | ASX: LIMITED IGO
Slide 2: Cautionary Statements & Disclaimer
Cautionary Statements & Disclaimer • This presentation has been prepared by IGO Limited (“IGO”) the necessary infrastructure. Where such a reference is made, • Lithium cash costs reported as COGS (cash costs of goods (ABN 46 092 786 304). It should not be considered as an offer it should be read sub
Slide 3: Safety
Safety Sustained improvement in safety performance TRIFR at 30 September 2023 was 12.7, a decrease from 16.0 as at 30 June 223 Enduring commitment to improving safety systems, culture and risk management has driven improvements in safety performance Relaunched company-wide health and wellness progra
Slide 4: 1Q24 Summary
1Q24 Summary Lithium business continues to deliver strong free cash flow Financial Results Lithium Business Nickel Business Sustainability & People • Another quarter of record • Record quarterly production • Operations delivered lower • Decrease in TRIFR to 12.7 free cash flow and record and lower c
Slide 5: 1Q24 Financial Results
1Q24 Financial Results Record TLEA dividend delivers record FCF result Units 1Q241 4Q231 QoQ Softer lithium prices resulted in lower share Sales Revenue A$M 248 241 ▲3% of TLEA net profit and EBITDA Share of Net Profit of TLEA A$M 328 522 ▼37% Underlying EBITDA2 A$M 362 620 ▼42% Net Profit After Tax
Slide 6: Cash Reconciliation
Cash Reconciliation Cash continuing to build CASH – QoQ MOVEMENT1 A$M 1,600 1,400 42 17 9 0 1,200 578 454 1,000 30 98 13 800 88 23 10 600 400 775 804 200 - Cash at Nova FCF Forrestania Cosmos FCF TLEA Exploration, Corporate & Finance Costs Dividend Purchase of Income Tax Effect of Cash at 30 June 20
Slide 7: NPAT Reconciliation
NPAT Reconciliation Strong recovery in NPAT despite lower profit from TLEA NPAT – QoQ MOVEMENT1 A$M 700 500 33 18 2 1 19 194 116 300 6 3 392 982 100 (100) (454) (300) (500) 4Q23 NPAT Impairment of Nova Forrestania Exploration & Corporate & Mark-to- Share of Net Finance D&A Tax 1Q24 NPAT E&E & Other
Slide 8: Lithium Business
Lithium Business TLEA Joint Venture (IGO: 49% / Tianqi Lithium Corporation: 51%) IGO Limited | 1Q24 Results Page 8
Slide 9: TLEA Joint Venture
TLEA Joint Venture Record dividend received from TLEA | Lower pricing delivers lower NPAT QUARTERLY DIVIDEND RECEIVED FROM TLEA ($M) 700 IGO share of TLEA NPAT 600 $328M ↓37% QoQ 500 Dividend Received from TLEA 400 300 $578M ↑37% QoQ 578 200 423 334 321 Cumulative Dividends received from TLEA $1.8Bn
Slide 10: Greenbushes
Greenbushes Excellent quarter delivers record production and reduced costs 100% basis Units 1Q241 4Q231 QoQ YTD Guidance3 Higher QoQ production driven by continued higher feed grades and improved recoveries Spodumene Production kt 414 395 ▲5% 350 – 375 Lower cash costs resulted from improved unit pr
Slide 11: Greenbushes
Greenbushes Strong production and lower costs for the Quarter, whilst focus remains on expansion Greenbushes production and cash cost (production)1 Major Capital Projects – Update 450 300 271 Structural concrete and bulk earthworks 262 253 250 CGP3 advancing well; electrical and instrumental design
Slide 12: Kwinana Refinery
Kwinana Refinery Improvement in Train 1 production rates Train 1 Quarterly production of 607t was an improvement QoQ, however, below expectations Product qualification achieved for first customer – ongoing qualification for a second customer Train 2 Lead contractor to complete the required FEED stud
Slide 13: Nickel Business
Nickel Business IGO Limited | 1Q24 Results Page 13
Slide 14: Nova
Nova Softer than expected quarterly performance driven by some operational challenges Units 1Q241 4Q231 QoQ YTD Guidance3 Production sequencing, paste fill issues and Nickel Production t 4,765 6,568 ▼27% 5,375 – 5,875 an adverse nickel reconciliation resulted in lower metal production QoQ Copper Pro
Slide 15: Forrestania
Forrestania Lower ore availability resulted in lower production and higher costs Units 1Q241 4Q231 QoQ YTD Guidance3 Transition to campaign milling and a seismic event at Spotted Quoll resulted in lower milled tonnes and feed grade, which impacted production Nickel Production t 2,366 2,981 ▼21% 1,87
Slide 16: Cosmos
Cosmos Project development continues with key workstreams nearing completion 1Q24 Project Update Processing Plant Completion of all early commissioning activities imminent for the Processing Plant First concentrate from mill expected in the coming weeks Shaft & shaft infrastructure Shaft prope
Slide 17: Exploration
Exploration IGO Limited | 1Q24 Results Page 17
Slide 18: Exploration
Exploration Several interesting developments as we progress our journey of discovery West Kimberley Project Successful drilling at the Dogleg Ni-Co-Cu Prospect1 intersected massive sulphides with further drilling expected this quarter to test additional conductor Forrestania Project Diamond drilling
Slide 19: Summary
Summary IGO Limited | 1Q24 Results Page 19
Slide 20: Summary
Summary Lithium business performance continues to drive outstanding financial returns Continued improvements in safety performance Record quarterly free cash flow and dividend flow from TLEA Strong cash generation, building a net cash position of $445M Exceptional Greenbushes production with lower c
Slide 21: 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