IGO (IGO) AGM 2024 summary

Opening remarks and agenda

• Meeting opened with acknowledgment of traditional custodians and confirmation of quorum.

• CEO Ivan Vella opened the AGM, highlighting the company's evolution and commitment to clean energy metals.

• Board members, executive team, and auditor introduced; hybrid format enabled broad participation.

Financial performance review

• FY24 revenue reached AUD 841 million, with underlying NPAT at AUD 319 million and net cash from operations at AUD 872 million.

• Greenbushes mine delivered an 85% EBITDA margin and AUD 761 million in dividends via the TLEA JV.

• Total FY24 dividends were AUD 0.37 per share (AUD 280 million), with a year-end cash balance of AUD 468 million.

• Over AUD 1 billion in dividends paid over five years, averaging 37% of underlying free cash flow distributed.

• Impairment of AUD 176 million recognized for Mount Goode, part of a total AUD 286 million impairment.

Board and executive committee updates

• Ivan Vella appointed CEO and Managing Director, with new executive team members including Brett Salt and Marie Bourgoin.

• Board strengthened with the addition of Marcelo Bastos; Keith Spence to retire at 2025 AGM.

• Leadership team brings extensive industry experience, supporting the refreshed strategy.

• Comprehensive annual board performance review conducted, with recommendations implemented.