INDEPENDENCE GROUP NL ANNUAL REPORT 2017

- 2.00 4.00 6.00 8.00 10.00 12.00 14.00 - 1.00 2.00 3.00 4.00 5.00 6.00 08 -Sep-16 08 -Oct-16 08 -Nov-16 08 -Dec-16 08 -Jan-17 08 -Feb-17 08 -Mar-17 08 -Apr-17 08 -May-17 08 -Jun-17 08 -Jul-17 08 -Aug-17 08 -Sep-17 Volume(M) A$/share KEY ACHIEVEMENTS FOR THE YEAR Volume Share Price IGO’S LTIFR OF 1.69 PER MILLION MAN-HOURS TO 30 JUNE 2017 IS ONE OF THE BEST EVER ACHIEVED CONSOLIDATION OF FRASER RANGE THROUGHOUT FY17 RESULTING IN ~12,000KM 2 OF TENURE AGREEMENT TO DIVEST THE STOCKMAN COPPER-ZINC PROJECT TO COPPERCHEM LIMITED FOR TOTAL CONSIDERATION OF A$47.2 MILLION SUCCESSFUL COMPLETION OF EQUITY PLACEMENT RAISING A$274M IN THE SEPTEMBER 2016 QUARTER FIRST PRODUCTION OF NICKEL AND COPPER CONCENTRATES AT NOVA ON 26 OCTOBER 2016 TROPICANA EXPANSION PROJECT COMPLETED WITH A 7.5MTPA ANNUALISED PROCESSING THROUGHOUT RATE ACHIEVED A$/SHARE VOLUME (M) SEP 16 FEB 17 OCT 16 MAR 17 NOV 16 APR 17 JUL 17 DEC 16 MAY 17 AUG 17 JAN 17 JUN 17 SEP 17 6.00 3.00 5.00 2.00 4.00 1.00 – 14.00 8.00 6.00 12.00 4.00 10.00 2.00 – MAX: $4.88 MIN: $2.86 SHARE PRICE PERFORMANCE 1 IGO HISTORICAL PAYABLE METAL GOLD (oz) 160,000 100,000 40,000 140,000 80,000 20,000 120,000 60,000 - ZINC (t) 40,000 25,000 10,000 35,000 20,000 5,000 30,000 15,000 - NICKEL (t) 8,000 5,000 2,000 7,000 4,000 1,000 6,000 3,000 - COPPER (t) 8,000 5,000 2,000 7,000 4,000 1,000 6,000 3,000 - 16 17 15 14 13 FY 16 17 15 14 13 FY 16 17 15 14 13 FY 16 17 15 14 13 FY 1 As at market close 8 September 2017 IGO ANNUAL REPORT 2017— 07