ANC-Presentations-Full-18-10_Neat

AM6 Feasibility






▪ Feasibility study

- Very advanced


- Improved mill recoveries from recent metallurgical
work


- Ore reserve 2.1mt @ 2.2% for 47kt nickel


- Integration into the Odysseus production schedule


- Increase mill capacity to 1.1Mtpa


▪ Mining

- Accessed from existing decline


- Utilises Odysseus shaft for ore haulage


- Utilises Odysseus return ventilation circuit and
dedicated fresh air intake


- LHOS and paste fill


- Top down-centre out mining sequence






26

Odysseus massive sulphide underground drilling






▪ Existing resource of 0.19Mt @ 11.7% nickel


▪ UG drilling to commence this month


▪ Drilling to increase confidence of massive
sulphide resource


▪ The underground drill site provides a perfect

opportunity to use short holes to intersect the
massive sulphide











Previous drill traces
5.3m @ 15.2% Ni
3.4m @ 22% Ni

















27

Mt Goode scoping study underway






Resources Tonnes (Mt) Grade (Ni %) Ni Tonnes (kt)


Measured 13.6 0.8 105.8
Indicated 27.4 0.6 158.7
Measured + Indicated 40.9 0.7 264.5
Inferred 12.0 0.5 62.4
TOTAL 52.9 0.6 326.9

Mt Goode
Mining 0.4% Ni COG
resource
▪ Mining Scoping Study - UG & OP


▪ Conventional truck and shovel open pit

preferred mining option

▪ ~ 4Mtpa of ore


▪ Targeting early ore and deferral of waste

stripping
















28

Mt Goode geometallurgical drilling






▪ 3 hole diamond drill programme to
be undertaken in October 2021 for

geometallurgical holes to support a
PFS


– Will correlate against historical

resource data


– Samples used for mineralogy
testing, flotation and beneficiation
studies


– Technical review of

Hydrometallurgy processing route
to be undertaken





















29

Forrestania nickel operation – opportunities





WESTERN AREAS’ CURRENT
OPERATIONAL HUB:
New Morning
▪ Outstanding nickel address Day Break
Conceptual
▪ Total Resources of 307k tonnes of design
nickel

▪ Mining since 2005


▪ Established infrastructure Resource: New Morning Day Break
817,549t @ 1.97% Ni Conceptual design
▪ Two operating mines Flying Fox and
Spotted Quoll

▪ New project commissioning:


- Scats Heap Leach

▪ Strong upside potential:

- New Morning Daybreak

- Diggers South













30

New Morning Daybreak




New Morning Daybreak


▪ Total Resource: 6.2Mt @ 1.4% Ni (88kt Ni)

▪ Underground opportunity:


- 0.4Mt @ 2.2% Ni (10kt Ni) Mining Inventory


- 0.7Mt @ 1.9% Ni (13kt Ni) Mining Inventory

- 1.0Mt @ 1.6% Ni (17kt Ni) Mining Inventory


▪ Minimum 3 year LOM

- 6 months development of box-cut and portal establishment


- 4 months pre-production decline development


▪ Conventional processing in Cosmic Boy concentrator

▪ 83% recovery and 14% Ni in conc. grade based on historical test-work


▪ Key components of study being developed to Feasibility Study Level

▪ Current critical path items:


- Permitting in progress with Federal EPBC






31

Heap leach





▪ Recovering nickel from scats collected from the concentrator (~ 280kt @1.5% Ni), via heap leach process


▪ Commissioned a 20,000t demonstration sized heap leach (late April)


▪ Consists of three cells to test effects of water quality, pH and utilises the BioHeap process


▪ PLS collected will be pumped to the existing MREP sulphide precipitation circuit – first product produced









































32

MREP unlocks value – mill scats heap leach project





















SCATS




CB MILL FEED “HIGH As”
Product Flexibility

INCREASED
PREGNANT NI SULPHATE SOLUTION POND
PAYABILITY

Ni Sulphate Ni Sulphide
‘crude’ 45-50% Ni








LEACH TANKS Max 1,400 tpa Ni
PRECIPITATION PLANT 4,000 tpa Ni

Blended with
flotation
CYCLONES concentrate



33

EXPLORATION

Exploration - key tenement holdings




























































35

Diverse Exploration Portfolio






FORRESTANIA – NEW Target Space



▪ Series of 2D Seismic survey lines completed
in September 2020 west and north of Spotted
Quoll Mine

▪ New structural interpretation suggests the
Takashi Belt represents a thrust repeat of the
fertile Western Ultramafic Belt

▪ RC drilling completed (June – July) testing this
underexplored new target area, with numerous
ultramafic intervals intersected and assays
pending.



WESTERN GAWLER (ILUKA JV) - SAHARA
COSMOS
▪ Broad intervals of elevated nickel sulphides returned ▪ Centred within the prolific Leinster – Wiluna Nickel
from maiden diamond hole (20WGDD005) corridor
▪ 104.42m @ 0.21% Ni, 0.12% Cu ▪ Significant exploration upside identified along 9km

▪ Twelve holes completed in 2021 of prospective ultramafic host sequence
▪ Elevated accumulations of disseminated (>2%) ▪ Recent underground exploration drilling completed
sulphide now intersected in excess 750m along strike with mineralisation identified south of the Alec
Mairs (AM6) resource confirmed
▪ More sulphides confirmed at regional targets
(Firefly, F1-7 South and F1-7 North) with follow-up ▪ Future underground drilling will aim to unlock the
drilling planned full potential south of AM6




36

Metal Hawk JV






▪ Western Areas has entered into a strategic partnership

with Metal Hawk Ltd on highly prospective base metals
tenure within both the Eastern Goldfields and Albany – JV EARN IN

Fraser Stage 1: $3m over 3 years for 51%

▪ Kanowna East (earning in to all non-gold rights) Stage 2: $4m over 2 years for 75%


‒ 10km south of high-tenor Silver Swan complex


▪ Emu Lake (earning in to all non-gold rights)


‒ Along strike from Binti Binti Nickel prospect


▪ Fraser South (earning in to all mineral rights)


‒ Southern, underexplored structural continuation of
Albany-Fraser


A regional geological reconnaissance air core program

commenced in August at Emu Lake, designed to further
delineate ultramafic stratigraphic horizons prospective for
hosting nickel sulphide mineralisation.








37

www.westernareas.com.au

ASX:WSA


PO Box 1891 West Perth 6872
+61 8 9334 7777

Positioned for the future





Chris Stone, General Manager, Northern Operations Ashlee and Tina, Services Crew,

Mining, Exploration & NPI Venus Underground Mine

5 October 2021

Disclaimer








Forward-looking statements
This presentation contains f orward-looking statements, including statements regarding: trends in commodity prices and currency exchange rates; demand f or commodities; production f orecasts; plans, strategies and objectiv es of management; assumed long-term scenarios; potential
global responses to climate change; the potential eff ect of possible f uture ev ents on the v alue of the BHP portf olio; closure or div estment of certain assets, operations or f acilities (including associated costs); anticipated production or construction commencement dates; capital costs and
scheduling; operating costs and shortages of materials and skilled employ ees; anticipated productiv e liv es of projects, mines and f acilities; prov isions and contingent liabilities; and tax and regulatory dev elopments.
Forward-looking statements may be identif ied by the use of terminology , including, but not limited to, ‘intend’, ‘aim’, ‘project’, ‘anticipate’, ‘estimate’, ‘plan’, ‘believ e’, ‘expect’, ‘may ’, ‘should’, ‘will’, ‘would’, ‘continue’, ‘annualised’ or similar words. These statements discuss f uture
expectations concerning the results of assets or f inancial conditions, or prov ide other f orward-looking inf ormation.
These f orward-looking statements are based on the inf ormation av ailable as at the date of this presentation and/or the date of the Group’s planning processes or scenario analy sis processes. There are inherent limitations with scenario analysis and it is diff icult to predict which, if any, of
the scenarios might ev entuate. Scenarios do not constitute def initiv e outcomes f or us. Scenario analy sis relies on assumptions that may or may not be, or prov e to be, correct and may or may not ev entuate, and scenarios may be impacted by additional f actors to the assumptions
disclosed. Additionally, f orward-looking statement and are not guarantees or predictions of f uture perf ormance, and inv olv e known and unknown risks, uncertainties and other f actors, many of which are bey ond our control, and which may cause actual results to diff er materially f rom
those expressed in the statements contained in this presentation. BHP cautions against reliance on any f orward-looking statements or guidance, particularly in light of the current economic climate and the signif icant v olatility , uncertainty and disruption arising in connection with COVID-
19.
For example, our f uture rev enues f rom our assets, projects or mines described in this presentation will be based, in part, upon the market price of the minerals, metals or petroleum produced, which may v ary signif icantly f rom current lev els. These v ariations, if materially adv erse, may
af f ect the timing or the f easibility of the dev elopment of a particular project, the expansion of certain f acilities or mines, or the continuation of existing assets.
Other f actors that may affect the actual construction or production commencement dates, costs or production output and anticipated liv es of assets, mines or f acilities include our ability to prof itably produce and transport the minerals, petroleum and/or metals extracted to applicable
markets; the impact of f oreign currency exchange rates on the market prices of the minerals, petroleum or metals we produce; activ ities of gov ernment authorities in the countries where we sell our products and in the countries where we are exploring or dev eloping projects, f acilities or
mines, including increases in taxes; changes in env ironmental and other regulations; the duration and sev erity of the COVID-19 pandemic and its impact on our business; political uncertainty; labour unrest; and other f actors identif ied in the risk f actors discussed in BHP’s f ilings with the
U.S. Securities and Exchange Commission (the ‘SEC’) (including in Annual Reports on Form 20-F) which are av ailable on the SEC’s website at www.sec.gov .
Except as required by applicable regulations or by law, BHP does not undertake to publicly update or rev iew any f orward-looking statements, whether as a result of new inf ormation or f uture ev ents. Past perf ormance cannot be relied on as a guide to f uture perf ormance.
Presentation of informationand data
Numbers presented may not add up precisely to the totals prov ided due to rounding.
No offer of securities
Nothing in this presentation should be construed as either an off er or a solicitation of an off er to buy or sell any securities, or a solicitation of any v ote or approv al, in any jurisdiction, or be treated or relied upon as a recommendation or adv ice by BHP. No off er of securities shall be made
in the United States absent registration under the U.S. Securities Act of 1933, as amended, or pursuant to an exemption f rom, or in a transaction not subject to, such registration requirements.
Reliance on third party information
The v iews expressed in this presentation contain inf ormation that has been deriv ed f rom publicly av ailable sources that hav e not been independently v erif ied. No representation or warranty is made as to the accuracy, completeness or reliability of the inf ormation. This presentation
should not be relied upon as a recommendation or f orecast by BHP.
BHP and its subsidiaries
In this presentation, the terms ‘BHP’, the ‘Company ’, the ‘Group’, ‘our business’, ‘organisation’, ‘Group’, ‘we’, ‘us’ and ‘our’ ref er to BHP Group Limited, BHP Group Plc and, except where the context otherwise requires, their respectiv e subsidiaries set out in note 13 ‘Related undertaking
of the Group’ in section 3.2 of BHP’s Annual Report on Form 20-F. Those terms do not included non-operated assets. Notwithstanding that this presentation may include production, f inancial and other inf ormation f rom non-operated assets, non-operated assets are not included in the
Group and, as a result, statements regarding our operations, assets and v alues apply only to our operated assets unless otherwise stated. Our non-operated assets include Antamina, Cerrejón, Samarco, Atlantis, Mad Dog, Bass Strait and North West Shelf .










Chris Stone, General Manager Northern Operations
5 October 2021 2

Electric car makers value low emission nickel suppliers



Nickel West is already one of the most sustainable nickel producers in the world, and we are doing much more




•

Solar • In 2021 we announced agreements to purchase
50MW of power from the Merredin Solar Farm,
purchase directed to the Kwinana Nickel Refinery and

agreements
Kalgoorlie Nickel Smelter




• In a BHP first, we have contracted with

Partnering to Transalta to build a 27.4 MW solar farm at Mt
build new Keith and a 10.7 MW solar farm and 10.1 MW

solar farms battery at Leinster, to power our mines and
concentrators


• We are in discussions on wind farm

developments for the northern Goldfields and
Further southern network
options
• Electric vehicles underground – Toyota LV and Craig, Cliffs Underground Mine
Normet charge wagon






Chris Stone, General Manager Northern Operations
5 October 2021 3

We are growing our resource base to meet demand


Honeymoon Well and Albion Downs¹ acquisition increased our Mineral Resources by 20% for contained Nickel metal



Nickel West Mineral Resources
(Contained Metal, Ni Mt)

↑ +20% Contained Metal
7.5
7.4 Mt





7.0






6.5



6.3 Mt
6.2 Mt
6.1 Mt 6.2 Mt
6.0






5.5
FY17 FY18 FY19 FY20 FY21

Note: Refer to disclaimer on slide 2 and detailed tables for Nickel West Mineral Resources in the Appendix slide 13.
¹ Albion Dow ns is comprised of the Jericho and West Jordan projects




Chris Stone, General Manager Northern Operations
5 October 2021 4

We are exploring options to develop north of Mt Keith


Nickel West holds a tenement portfolio covering almost 120,000ha of the Agnew Wiluna belt





Honeymoon Well
Wedgetail
Honeymoon Well Albion Downs

• Honeymoon Well deposits include Wedgetail, Hannibals,
Palm Well
Harrier and Corrella Mount Keith Corella


• We have begun engaging with the Wiluna and Tarlpa Hannibals

Native Title Holders on Wedgetail works Yakabindie


• Wedgetail is the priority and is potentially accessible via
an underground mining method Harrier
Meredith Well

Albion Downs


• Deposits include West Jordan and Jericho
Leinster
• Drilling commenced to assess opportunities to extend or
combine West Jordan



10 km

Jericho


Mt Keith
Chris Stone, General Manager Northern Operations (25 kms)
5 October 2021 5

Growing our equity nickel production



We are increasing equity nickel with new mines and technology





We are growing Mt Keith


• We are looking to expand the Mt Keith Concentrator by

installing a 16MW SAG and modernising the flotation
circuit, pending final approvals


• Yakabindie (Goliath and Six Mile Well pits) are at full
production


• We have just started the Stage I cutback in the original

Mt Keith pit


We are debottlenecking the Leinster Concentrator

• Upgrades to the Leinster concentrator have realised
record production rates, requiring increased mining

activities to fill capacity

• Cliffs Underground Mine life has been extended to
2024 and could go longer Dan & Sean, Six Mile Well, Mt Keith





Chris Stone, General Manager Northern Operations
5 October 2021 6

Venus is producing to plan



Providing the high quality ore required for the Kalgoorlie Nickel Smelter concentrate feed


Northern Cave Southern Cave
in production almost complete
Venus underground is now at full production rates

• Sub-level caving operation, with caving successfully
~120m
recorded


• ~720K tonnes of production per annum available at 1.5%
nickel grade¹ 2km main


~240m
• Tonnes per vertical metre increases with depth – less access drives
to Leinster
development intensive and upside potential for production underground
output


• ~207kt contained metal in mineral resource², with
mineralisation open at depth and to the north











Mined Planned
¹ Refer to BHP Annual Report 2021 pg. 266 for Venus Ore Reserve annual production targets
² Refer to detailed tables for Nickel West Mineral Resources in the Appendix slide 13
Chris Stone, General Manager Northern Operations
5 October 2021 7

B11 – First drawbell imminent


BHP’s first developed block cave




Leinster B11 is progressing the undercut phase


• The undercut and the completion of the draw-points is
expected to be completed by the end of calendar year
2022


• Ramp up will continue in 2023.


• First draw-bell firing imminent


• Seismic responses to undercutting in line with expectations
and plan


• Strong QA/QC on tunnel development and ground support

installation was a key element of ground control measures


• Caving when commenced is expected to break-through
into the old sub level cave after 2-3 years





Mined areas above 11L Planned Cave
Mined areas below 11 Planned B11 base


Chris Stone, General Manager Northern Operations
5 October 2021 8

Technology will unlock our future ore bodies



A smelter to enable growth without constraints





Studies are progressing on the furnace rebuild


• We need to unlock the potential for future projects from

the north


• Concept studies are complete

• Pilot testing for TSL and DON Flash is underway in

Australia, Finland and Germany






Kambalda Nickel Concentrator (mill) expected to start
up in March quarter


• As nickel mining restarts in the region






Callum, Kalgoorlie Nickel Smelter





Chris Stone, General Manager Northern Operations
5 October 2021 9

We have delivered nickel sulphate crystals at Kwinana



BHP’s nickel sulphate plant in Kwinana is an Australian first




Nursha, Kwinana Nickel Refinery First crystals produced in the September quarter


• When the nickel sulphate plant is fully operational it will

produce over 100,000t of nickel sulphate at 99.995% purity –
enough to make 700,000 batteries for electric vehicles



• The plant consists of leaching tanks, purification technology,

a crystalliser/dryer and an automated packaging system


• We are working with our customers to qualify our new

product in their battery materials operations



• We now sell over 85% of our nickel products to the battery
market














Chris Stone, General Manager Northern Operations
5 October 2021 10

We are positioned for the future



Nickel West is a sustainable, world-class nickel asset, with opportunities to grow








Electric car makers value low emission nickel
suppliers, like Nickel West





We are delivering new mines and creating future

growth optionality through debottlenecking,
process innovation and exploration





We have the foundations to create a BHP-scale,
future-facing business






We are becoming a globally significant supplier to

the battery sector



Laura, Leinster Underground Mine


Chris Stone, General Manager Northern Operations
5 October 2021



Competent Person Statement – Mineral Resources



Nickel West Mineral Resources Competent Person Statement
The inf ormation in this slide relates to Nickel West Mineral Resources as at 30 June 2021. Mineral Resources are inclusiv e ofOre Reserv es and is based on inf ormation compiled by Richard Finch and Marcus Hope, Competent Persons f or all declared Mineral Resources. The
inf ormation in this presentation that relates to the FY2017 to FY2020 Mineral Resources were f irst reported by the Company incompliance with the ‘Australasian Code f or Reporting of Exploration Results, Mineral Resources and Ore Reserv es, 2012’ (‘The JORC Code 2012 Edition’) in
the 2017, 2018, 2019 and 2020 BHP Annual Reports. All reports are av ailable to v iew on www.bhp.com.
R. Finch and M. Hope are current Members of the Australasian Institute of Mining and Metallurgy (MAusIMM) and are f ull-time employ ees of BHP. R. Finch and M. Hope hav e suf f icient experience that is relev ant to the sty le of mineralisation and ty pe of deposit under consideration
and to the activ ity which they are undertaking to qualif y as Competent Persons as def ined in the 2012 Edition of the ‘Australasian Code f or Reporting of Exploration Results, Mineral Resources and Ore Reserv es (JORC Code). R. Finch and M. Hope both own shares in BHP and are
entitled to participate in employ ee share holding plans. R. Finch and M. Hope consent to the inclusion in the presentation ofthe matters based on their inf ormation in the f orm and context in which it appears.
Mineral Resources as presented are reported in 100 per cent terms. Dry tonnages are reported and all tonnage and quality inf ormation has been rounded, hence small dif f erences may be present in the totals. Total contained nickel metal is presented in the table below as kilotonnes
(kt). No metallurgical recov ery has been applied to the calculation of contained nickel metal. Mineral Resources classif ication is applied based on mineralisation ty pe, geological understanding and an assessment of reasonable prospects f or ev entual economic extraction.
Nickel West Mineral Resources as at 30 June 2021
Measured Resources Indicated Resources Inferred Resources Total Resources
Deposit Ore Type Cut-Off Contained Metal BHP Interest
Tonnes (Mt) % Ni Tonnes (Mt) % Ni Tonnes (Mt) % Ni Tonnes (Mt) % Ni (%)
(Ni kt)
OC Disseminated Sulphide ≥ 0.40%Ni 4.1 0.72 77 0.58 52 0.64 133 0.60 798 100
OC Massiv e Sulphide Stratigraphic 0.25 4.4 1.0 4.9 0.37 4.7 1.6 4.8 77 100
UG Disseminated Sulphide Variable between stratigraphic f or block cav e and ≥1.0% Ni 15 1.9 10 1.3 3.2 1.2 28 1.6 448 100
Leinster
UG Massiv e Sulphide Stratigraphic 0.63 4.5 2.4 4.9 1.1 4.1 4.2 4.6 193 100
Oxide ≥ 1.2%Ni - - - - 5.2 1.8 5.2 1.8 94 100
SP N/A - - 1.5 0.76 - - 1.5 0.76 11 100
SP Oxidised N/A - - - - 1.9 1.7 1.9 1.7 32 100
OC Disseminated Sulphide Variable between 0.35%Ni and 0.40%Ni 133 0.54 67 0.52 24 0.52 224 0.53 1,187 100
Mt Keith
SP N/A 3.6 0.49 - - - - 3.6 0.49 18 100
UG Disseminated Sulphide ≥ 0.40%Ni - - 6.3 0.86 1.6 1.0 7.9 0.89 70 100
Cliffs
UG Massiv e Sulphide Stratigraphic 0.79 3.6 1.1 3.6 0.47 3.6 2.3 3.6 83 100
OC Disseminated Sulphide ≥ 0.35%Ni 137 0.59 107 0.62 170 0.61 414 0.61 2,525 100
Yakabindie
SP N/A 2.1 0.59 - - - - 2.1 0.59 12 100
UG Disseminated Sulphide ≥ 0.40%Ni 1.2 1.5 5.4 1.8 1.1 1.1 7.7 1.7 131 100
Venus
UG Massiv e Sulphide Stratigraphic 0.11 6.0 0.7 6.4 0.35 6.2 1.2 6.3 76 100
Nickel West Projects
OC Disseminated Sulphide ≥ 0.35%Ni - - 138 0.62 6.5 0.66 144 0.62 893 100
Honeymoon Well ¹ ² UG Disseminated Sulphide ≥ 0.40%Ni 9.1 0.72 18 0.75 3.8 0.74 31 0.74 229 100
UG Massiv e Sulphide Stratigraphic 0.35 6.0 0.92 6.4 0.17 6.6 1.4 6.3 88 100
Jericho ¹ OC Disseminated Sulphide ≥ 0.40%Ni - - - - 31 0.59 31 0.59 183 100
West Jordan ¹ OC Disseminated Sulphide ≥ 0.40%Ni - - - - 43 0.52 43 0.52 224 100
Nickel West Historical Mineral Resources (contained Nickel metal)
Financial Year Measured Resources Indicated Resources Inferred Resources Total Resources BHP Interest %
2017 316Mt @ 0.67% Ni f or 2,103kt Ni Metal 303Mt @ 0.62% Ni f or 1,864kt Ni Metal 340Mt @ 0.66% Ni f or 2,254kt Ni Metal 958Mt @ 0.65% Ni f or 6,221kt Ni Metal 99
2018 331Mt @ 0.66% Ni f or 2,168kt Ni Metal 274Mt @ 0.63% Ni f or 1,732kt Ni Metal 337Mt @ 0.66% Ni f or 2,232kt Ni Metal 941Mt @ 0.65% Ni f or 6,131kt Ni Metal 99
2019 322Mt @ 0.67% Ni f or 2,146kt Ni Metal 282Mt @ 0.69% Ni f or 1,947kt Ni Metal 335Mt @ 0.65% Ni f or 2,192kt Ni Metal 939Mt @ 0.67% Ni f or 6,285kt Ni Metal 99
2020 312Mt @ 0.66% Ni f or 2,060kt Ni Metal 287Mt @ 0.70% Ni f or 2,008kt Ni Metal 328Mt @ 0.64% Ni f or 2,100kt Ni Metal 926Mt @ 0.67% Ni f or 6,168kt Ni Metal 99
2021 307Mt @ 0.67% Ni f or 2,050kt Ni Metal 436Mt @ 0.70% Ni f or 3,052kt Ni Metal 346Mt @ 0.66% Ni f or 2,277kt Ni Metal 1,089Mt @ 0.68% Ni f or 7,378kt Ni Metal 100
(1) Change of ownership of Jericho f rom 50% to 100% and f irst-time reporting of Mineral Resources f or Honey moon Well and West Jordan deposits f ollows acquisition of these deposits during FY2021.
(2) The Honey moon Well project is comprised of the Wedgetail (UG Massiv e Sulphide & UG Disseminated Sulphide), Corella, Hannibals and Harrier deposits (OC Disseminated Sulphide).
13

IGO Limited




Australian Nickel Conference



5 October 2021

IGO Limited



Building a clean energy metals business



Upstream Production



➢ Outstanding operational and financial delivery

in FY21 Ni Cu Co Li


Nickel Copper Cobalt Lithium
➢ IGO portfolio transformed to be 100% focused

on clean energy metals Downstream Conversion




➢ New lithium JV delivers significant brownfields

growth upside to IGO


EV Connectivity
➢ Future growth upside from nickel and copper

focused exploration portfolio




➢ Leading approach to Sustainability and People

& Culture














2

Clean Energy Metals Strategy














3

Clean Energy



Three key industries driving uptake of clean energy technologies













































Renewable Energy Energy Storage Electric Vehicles
















4

Lithium-ion Battery Demand



Substantial growth expected





Lithium-ion battery demand


outlook (GWh/year) 1
GWh/year

3,000

Lithium-ion battery demand set to

2,500
increase 5x over the next decade



2,000




1,500
Passenger vehicle electrification is


the primary driver 1,000





500



0




Passenger EVs Commercial EVs

Electric two-and three-wheelers Stationary storage
Consumer electronics E-buses
1. Source: Bloomberg NEF
5

Implications for raw materials



Battery demand will drive significant increases in demand for key raw materials




Lithium-ion battery metal

demand outlook 1


Mt
2030 vs 2021
16

Copper

14
Aluminum
Copper ▲5.5x

12
Phosphorus


10
Iron
Nickel ▲ 5.2x

8 Manganese



6 Graphite Cobalt ▲ 1.5x



Nickel
4

Cobalt
2 Lithium ▲ 5.3x

Lithium
0
2020 2022e 2024e 2026e 2028e 2030e

1. 1. Source: Bloomberg NEF
Source: Bloomberg NEF
6

Risk of history repeating itself



Plug-in EV sales up 150% YTD with 2015-2021 CAGR of 55%






Potential for reality to be larger than projections – just like solar panels!




















































Source: Terra Studio

7

Our Strategy



Purpose of Making a Difference has underpinned our strategy































































8

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: Macquarie Research
9

Recent Achievements



FY21 was a highly successful year












✓ Invested into a lithium joint venture with Tianqi






✓ Divested our 30% interest in Tropicana





✓ Delivered outstanding operational & financial performance





✓ Built on our ESG credentials







✓ Admitted to the S&P/ASX 100


















10

Our Portfolio



Aligned to clean energy metals strategy









Portfolio focused on

nickel, copper, cobalt and lithium










Tier-1 jurisdictions








Significant brownfields expansion

potential at Greenbushes and

Kwinana








Extensive exploration portfolio in

Australia and Greenland








11

FY21 Results



Record results across all key financial metrics







1
Revenue (A$M) 300 NPAT (A$M) 549 2
1000 892 919
900 778 784 250
800 200
700 155 164 2
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 (A$M) Net Cash (A$M)

400 363 600 529
311 500 453
300 278
400
200 300 263
138
200
100
100
-4
0 0
FY16 FY17 FY18 FY19 FY20 FY21
-100 FY16 FY17 FY18 FY19 FY20 FY21
-100
-113 -200 -164
-142
-200 -300 -225
1. Includes Other Income
2. Statutory NPAT of A$549M includes gain on sale of the Tropicana Operation of A$385M after tax. Profit after Tax excluding this gain was A$164M. 12

Nova














Nova Operation 13

Nova



Outstanding performance for FY21













Metal production exceeded guidance for all
metals











FY21 Cash Costs A$1.85/lb Ni payable

significantly lower than guidance











Underlying Free Cash Flow: A$393M

Underlying Free Cash Flow Margin: 59%














14

Nova



Operational performance continues to deliver strong financial outcomes





Nova Production & Cash Costs Nova Financial Performance





Tonnes A$/lb A$M

9,000 A$2.25 A$2.50 700 669


8,000 A$2.10 600 593
A$1.83
7,000 A$2.00 504
500
6,000 436
A$1.50 405 393
5,000 A$1.28 400 349 351
335
321
4,000 7,887 300 289
7,276 A$1.00 256 251
3,000 3,538
3,278 7,024 3,171 6,816 3,035 200 196

2,000 147
A$0.50
93
100
1,000

0 A$- 0
1Q21 2Q21 3Q21 4Q21 FY18 FY19 FY20 FY21

Nickel in concentrate Copper in concentrate Cash Cost A$/lb (payable) Revenue and other income Underlying EBITDA
Cash Flow from Operating Activities Underlying Free Cash Flow




15

Nova



Operation significantly de-risked





Nova Underground Development at 30 June 2021

Underground capex

development and grade

control substantially

complete








Leveraging smart

technology in collaboration

with Barminco










FY22 Development Capex
A$5M – A$7M














16

Nova



Making strong progress toward carbon neutrality






Ventilation on Demand Solar Optimisation




Nova Solar Farm delivered ~11% of total

power consumption in FY21







~4,500t CO -e per annum ~1,300t CO -e per annum
2
2
Four key emissions reductions projects to
be delivered in FY22 – expected to reduce

scope 1 and 2 emissions by a further 10% Culture & Behavior Changes









Strategic research projects ongoing into Hybrid Generators - Culture & Behavior Changes

battery storage, electric fleet and wind Exploration

energy ~380t CO -e per annum ~800t CO -e per annum
2
2









17

Nova Near Mine Exploration



Targeting step change in Nova mine life within a proven magmatic nickel sulphide province













High priority target at Orion Prospect on
the Boadicea JV tenement









Several intrusions encountered at

Chimera with demonstrated

mineralisation processes










Extensive follow up drilling currently

underway














18

Fraser Range



Targeting magmatic nickel sulphide deposits













Extensive and highly prospective tenement
portfolio over ~10,000km 2










Prospective chonolith mafic-ultramafic

intrusions with disseminated magmatic Ni-Cu

sulphides intersected at many prospects









FY22 drilling program to continue testing

multiple high-quality targets














19

Fraser Range



Silver Knight deposit to be acquired from Creasy Group












IGO acquiring Silver Knight for A$45M cash

consideration












Open pit nickel resource located 35km from

Nova Operation











Infill drilling program to define updated

resource and reserve estimate in CY22













20

Lithium Joint Venture














Greenbushes Mine 21

Lithium Joint Venture



Transformational transaction with Tianqi completed in June 2021







World class lithium portfolio with scale, quality, life and strong ESG credentials






































Greenbushes CGP2 Kwinana LiOHPlant



Greenbushes (25%) Kwinana (49%)

World’s lowest cost and highest grade hard First fully automated LiOH plant

rock lithium mine



22

Greenbushes



Expansion opportunities through additional concentrator capacity





Potential spodumene concentrate


capacity expansion (Mtpa) (100%)







Potential Commissioning Date 0.5 2.5





0.5 2027





0.3 2024


1.2 2022

















CGP1 & 2 TRP CGP3 CGP4 Total Potential
Capacity




23
23

Kwinana Lithium Hydroxide Refinery



First hydroxide successfully produced from Train I







Lithium Hydroxide Production

Capacity (ktpa) (100%)





Option to add Train III
and IV in the future


24ktpa 96ktpa


Expected to
commission
in 2024 24ktpa




Currently
completing 24ktpa
commissioning




24ktpa









Train I Train II Train III Train IV Total
Potential
Capacity


24