Investor Presentaiton

Transaction Benefits Transaction is a logical consolidation of the WA nickel sector aligned with clean energy metals strategy igo • Aligned with Strategy • Transaction further capitalises on the transition to clean energy technologies Aligns with IGO's clean energy metals strategy which has been strongly endorsed by the market Increased nickel exposure enhances IGO position as a global leader in clean energy metals Cash Consideration • Funding structure results in no dilution for IGO shareholders • Transaction funded from existing cash reserves and new debt IGO balance sheet remains well positioned to fund future organic growth initiatives • Accretive Transaction is FCF accretive from FY24 once the ramp-up of Odysseus underground mine is complete Increased leverage to improving nickel outlook • Enhances Nickel Portfolio A significant and high quality nickel business comprising the Nova and Forrestania Nickel Mines and the Cosmos Development Project Increased nickel exposure with FY22 pro forma nickel production increased by 63% to 41 - 44 kt¹ • Extends IGO's nickel exposure beyond Nova ° Logical Consolidation • Strategic and logical opportunity to consolidate the Western Australian nickel market, positioning IGO as Australia's leading independent nickel producer Enhances future downstream optionality of the combined nickel portfolio IGO well positioned · Odysseus development to be derisked through IGO's nickel development expertise and balance sheet IGO will assume WSA cash upon completion of A$148M IGO exploration expertise and with financial commitment to maximise value from Mt Goode and broader combined exploration portfolio 0 Enhanced exposure to EV and clean energy metals thematic 1. FY22 guidance for nickel in concentrate production is 25-27kt at Nova and 16-17kt at Forrestania, refer to WSA ASX Release titled "Western Areas long term production profile & FY22 guidance metrics", released 30 July 2021 and IGO ASX Release titled "June 2021 Quarterly Activities Report, released 28 July 2021" 28

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