Highlights

• IGO delivered a strong FY26 recovery, returning to profitability as improved commodity prices and disciplined execution supported financial performance.
• Greenbushes remained a key portfolio driver, producing 1.41 million tonnes of spodumene concentrate and reinforcing its strategic importance in lithium.
• The company is advancing a focused critical minerals strategy, prioritising lithium and copper opportunities to support long-term growth.

IGO Delivers Strong Financial Recovery

IGO Limited (ASX: IGO) reported its annual results on 27^th Aug, 2026 with a significant improvement in FY26 performance, supported by stronger lithium, nickel and copper markets, operational delivery and tighter capital discipline. The company continued its transition towards a focused critical minerals business, with its strategy centred on discovering, developing and delivering minerals required for global electrification.

The company recorded revenue of AU$463 million in FY26 compared with AU$528 million in FY25, while net profit after tax increased to AU$145 million compared with a loss of AU$955 million in FY25. Underlying EBITDA improved substantially to AU$286 million, reflecting stronger operational performance across its portfolio.

Greenbushes Remains Core Lithium Asset

IGO’s lithium portfolio is primarily supported by its strategic stake in the Greenbushes Operation, held through the Tianqi Lithium Energy Australia (TLEA) joint venture. The operation produced 1.41 million tonnes of spodumene concentrate in FY26, maintaining production within revised guidance despite operational challenges.

The company is progressing a Strategic Options Review at Greenbushes, focused on improving productivity, enhancing operational consistency and unlocking additional long-term value from the world-class lithium asset.

Nova Delivers Final Strong Operating Year

The Nova Operation remained an important contributor during FY26, delivering strong production outcomes ahead of its planned transition. The operation produced 15,304 tonnes of nickel in concentrate, exceeding guidance, while cash costs remained below expectations, highlighting effective operational management.

IGO also maintained a strong balance sheet, ending FY26 with AU$386.5 million in cash and AU$99.1 million in marketable securities, while its debt facility remained undrawn.

Copper and Lithium Drive Future Growth

IGO is repositioning its portfolio towards future-facing commodities, with copper and lithium forming the foundation of its long-term growth strategy. The company is advancing exploration opportunities, strategic partnerships and its proprietary BioHeap technology, which has the potential to unlock value from lower-grade copper resources.

With improved financial performance, strong strategic assets and a clearer focus on critical minerals, IGO enters the next phase of growth with investors closely watching progress across Greenbushes, copper opportunities and future capital allocation decisions.

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