INDEPENDENCE GROUP NL ANNUAL REPORT 2017

TROPICANA GOLD MINE 1. The total Ore Reserve tonnage and grades have increased due to changes in the open pit mining assumptions and costs – refer to IGO’s ASX announcement 15 December 2016 MINERAL RESOURCES AND ORE RESERVES – CONT’D TABLE 6 — 30 JUNE 2016 / 2017 TROPICANA GOLD MINE — 100% ORE RESERVES Deposit or Area JORC Code Class 30 June 2016 30 June 2017 Tonnes Au Au Tonnes Au Au (Mt) (g/t) (koz) (Mt) (g/t) (koz) Open pit Proved 7.6 2.33 570 4.4 2.31 330 Probable 24.2 2.01 1,560 43.0 2.13 2,950 Subtotal Open pit 31.8 2.07 2,120 47.4 2.15 3,280 Underground Proved - - - - - - Probable - - - - - - Subtotal Underground - - - - - - Stockpiles Proved 9.2 0.98 290 9.5 0.93 290 Total Proved 16.8 1.58 850 14.0 1.37 620 Probable 24.2 2.00 1,560 43.0 2.13 2,950 Tropicana Gold Mine Total 41.0 1.83 2,410 57.0 1.94 3,560 TROPICANA GOLD MINE — 100% MINERAL RESOURCES Area JORC Code Class 30 June 2016 30 June 2017 Tonnes Au Au Tonnes Au Au (Mt) (g/t) (koz) (Mt) (g/t) (koz) Open pit Measured 10.9 1.91 670 6.1 1.94 380 Indicated 78.3 1.71 4,320 79.1 1.61 4,080 Inferred 4.4 2.23 320 22.3 1.32 940 Subtotal Open pit 93.7 1.76 5,300 107.5 1.56 5,400 Underground Measured - - - - - - Indicated 5.4 3.36 590 6.8 3.38 730 Inferred 12.1 3.13 1,220 11.9 3.15 1,200 Subtotal Underground 17.6 3.20 1,810 18.6 3.23 1,940 Stockpiles Measured 13.6 0.85 370 15.2 0.82 400 Total Measured 24.5 1.32 1,040 21.3 1.14 780 Indicated 83.8 1.82 4,900 85.8 1.74 4,810 Inferred 16.6 2.89 1,540 34.2 1.95 2,150 Tropicana Gold Mine Total 124.8 1.86 7,480 141.3 1.70 7,740 1. AngloGold prepared the Tropicana estimates on a 100% basis, IGO share is 30% 2. The Competent Person confirmed to IGO that there is no material grade extrapolation related to the Inferred Mineral Resource class of the Tropicana underground estimate, which is 69% Inferred Mineral Resource 3. The total estimate tonnage increased due to an update of the estimate in December 2016 – refer to IGO’s ASX announcement 15 December 2016 TABLE 5 — 30 JUNE 2016 / 2017 26 — IGO ANNUAL REPORT 2017