INDEPENDENCE GROUP NL ANNUAL REPORT 2017

LOCATION 330km Northeast of Kalgoorlie, Western Australia PRODUCT Gold (Au) MINING Open pit contract mining with production from up to four contiguous pits extending some 5km in strike length PROCESSING METHOD Conventional crushing, grinding and CIL (carbon in leach) recovery SALES To a combination of the Perth Mint and Financial Institutions via forward sales contracts FY17 PRODUCTION 431,625oz (100% basis); 129,487oz (IGO share) FY17 CASH COSTS A$817 /oz RESOURCES 1 7.74Moz (100%) RESERVES 1 3.56Moz (100%) ESTIMATED MINE LIFE 7 – 10 years GROWTH POTENTIAL Grade streaming in CY18 and CY19 Long Island open pit study to be completed in December 2017 quarter Underground potential Expansion potential Regional exploration upside 1 See Resources and Reserves section on pages 23 to 30 of this report TROPICANA OPERATION GOLD IGO 30% 18 — IGO ANNUAL REPORT 2017