March 2026 Quarterly Presentation

• Strong operational performance at Nova, delivering higher nickel and copper production
• Greenbushes production flat, with focus on improving safety, maintenance, grade and recoveries
• Lithium hydroxide production at 51% of nameplate capacity, with EBITDA loss of $8M

IGO Ltd reported its March 2026 quarterly results, with strong operational performance at the Nova operation, delivering 11% higher nickel production and $52M in free cash flow. At Greenbushes, production was flat, with a focus on improving safety, maintenance, grade and recoveries. The ramp-up of the CGP3 expansion project is progressing well. In the lithium downstream business, lithium hydroxide production was 51% of nameplate capacity, with an EBITDA loss of $8M, which included a positive inventory adjustment of $45M and $25M of expensed capitalised items. The company's overall financial results were solid, with sales revenue up 45%, underlying EBITDA of $119M, and a net cash position of $327M. The company provided updated FY26 guidance for Greenbushes, reducing production to 1,375-1,425kt and increasing unit cash cost guidance to $380-420/t.

FY26 guidance for Greenbushes: production of 1,375-1,425kt, unit cash costs of $380-420/t, and capex of $400-450M.