INDEPENDENCE GROUP NL ANNUAL REPORT 2017

IGO TOTAL IGO TOTAL — ORE RESERVES FY Year End Project or Operation Tonnes (Mt) Grades In situ Metal Ni Cu Co Zn Ag Au Ni Cu Co Zn Ag Au (%) (%) (%) (%) (g/t) (g/t) (kt) (kt) (kt) (kt) (Moz) (koz) 2016 Nova 13.6 2.0 0.8 0.07 - - - 275 112 9 - - - Long 0.4 3.9 - - - - - 14 - - - - - Tropicana 12.3 - - - - - 1.8 - - - - - 700 Jaguar 1.4 - 1.1 - 9.5 145 0.8 - 16 - 137 6.7 0.0 Stockman 9.0 - 2.1 - 4.5 39 1.1 - 189 - 408 11.3 300 Total 2016 36.7 (Total average grades are not additive) (Total in situ metals not reported in 2016) 2017 Nova 13.3 2.06 0.83 0.07 - - - 274 110 9 - - - Long 0.2 3.64 - - - - - 6 - - - - - Tropicana 17.1 - - - - - 1.94 - - - - - 1,067 Jaguar 2.4 - 0.66 - 6.71 100 0.47 - 16 - 161 8 36 Stockman 9.0 - 2.10 - 4.53 39 1.08 - 189 - 408 11 311 Total 2017 41.9 (Total average grades are not additive) 280 315 9 568 19 1,414 1. The notes below Table 1 also apply to this listing 2. Gold metal for Jaguar was reported as 0.0 Moz in 2016 due to the 0.1 Moz rounding approach applied at the time of reporting. The reporting precision for gold has been changed to thousands of ounces (koz) for the 30 June 2017 reports 3. The Ore Reserve for Nova is based on mining depletion of the prior estimate and not the updated Mineral Resource MINERAL RESOURCES AND ORE RESERVES – CONT’D TABLE 2 — 30 JUNE 2016 / 2017 IGO TOTAL — MINERAL RESOURCES FY Year End Project or Operation Tonnes (Mt) Grades In situ Metal Ni Cu Co Zn Ag Au Ni Cu Co Zn Ag Au (%) (%) (%) (%) (g/t) (g/t) (kt) (kt) (kt) (kt) (Moz) (koz) 2016 Nova 14.3 2.3 0.9 0.08 - - - 325 134 11 - - - Long 1.3 4.7 - - - - - 60 - - - - - Tropicana 37.4 - - - - - 1.9 - - - - - 2,200 Jaguar 3.7 - 1.4 - 7.0 111 0.6 - 51 - 256 13 100 Stockman 14.0 - 2.1 - 4.3 38 1.0 - 294 - 598 17 400 Total 2016 70.6 (Total average grades are not additive) (Total in situ metals not reported in 2016) 2017 Nova 11.4 2.4 1.0 0.08 - - - 271 113 9 - - - Long 1.2 4.6 - - - - - 54 - - - - - Tropicana 42.4 - - - - - 1.7 - - - - - 2,322 Jaguar 6.5 - 0.9 - 5.6 85 0.4 - 55 - 364 18 90 Stockman 14.0 - 2.1 - 4.3 38 1.0 - 287 - 599 17 437 Total 2017 75.5 (Total average grades are not additive) 325 455 9 963 35 2,849 1. Tropicana tonnages and in situ gold are reported above as a 30% share – divide by 0.3 to derive the 100% estimates 2. Cobalt was not reported for Nova in IGO’s summary for 2016 but is included in the 2017 report 3. There have been material increases in tonnage and grade at Tropicana and Jaguar and decreases at Nova – refer to the notes below the respective summary tables further below for explanations TABLE 1 — 30 JUNE 2016 / 2017 24 — IGO ANNUAL REPORT 2017