IGO Interactive Annual Report 2018

DIRECTORS’ REPORT—REMUNERATION REPORT 30 JUNE 2018 Service rights The table below shows the number of service rights that were granted, vested and forfeited during the year. Balance at start of the year Granted during the year Vested during the year Forfeited during the year Balance at the end of the year (unvested) Maximum value yet to vest Name Year granted Number Number Number % Number % Number $ Peter Bradford 2018 - 49,858 - - - - 49,858 70,712 Keith Ashby 2018 - 10,542 - - - - 10,542 14,951 Matt Dusci 2018 - 19,801 - - - - 19,801 28,083 Rob Dennis 1 2018 - 20,513 20,513 100 - - - - Andrew Eddowes 2018 - 14,112 - - - - 14,112 20,015 Sam Retallack 2018 - 10,542 - - - - 10,542 14,951 Ian Sandl 2018 - - - - - - - - Scott Steinkrug 2018 - 18,804 - - - - 18,804 26,669 1. Following Mr. Dennis’ resignation on 30 April 2018, the Board resolved to fully allocate his outstanding service rights. 2. Mr. Sandl commenced employment with the Company on 4 September 2017, therefore was not entitled to service rights relating to FY17 performance. Shareholdings of KMP The number of ordinary shares in the Company held by each Director and other KMP, including their personally related entities, are set out below. 2018 Name Balance at start of the year Received on vesting of share rights Other changes during the period 1 Balance at the end of the year Directors Debra Bakker 5,200 - 5,885 11,085 Peter Bilbe 32,000 - 8,000 40,000 Peter Bradford 800,000 - 30,000 830,000 Peter Buck 22,200 - - 22,200 Geoffrey Clifford 10,000 - 5,000 15,000 Keith Spence 22,125 - - 22,125 Neil Warburton 106,034 - - 106,034 Other key management personnel Keith Ashby - - - - Rob Dennis 2 16,644 20,513 (37,157) - Matt Dusci 9,900 - - 9,900 Andrew Eddowes - - 101,447 101,447 Sam Retallack 19,865 - - 19,865 Ian Sandl - - - - Scott Steinkrug 78,549 - - 78,549 Total 1,122,517 20,513 113,175 1,256,205 1. Other changes during the year include opening balances on becoming a KMP for the first time during the year. 2. Shareholdings are reversed to show a zero balance at 30 June 2018 after ceasing to be a KMP during the year. Whilst IGO does not have a written policy stating a minimum shareholding in IGO shares for Directors, a written guideline on this subject was adopted by the Company in FY18. The guideline states, that in order to achieve a greater alignment with shareholder interests, Non-executive directors are encouraged to hold shares in the Company. IGO is committed to achieving greater diversity throughout the business and this includes the membership of the Board of Directors. To this end, the Board of Directors acknowledges that each current or future Non-executive Director may have different personal circumstances. As such, no minimum shareholding requirement has been set in order to maximise the Company’s opportunity to achieve the broadest range of diversity of directors on the Board. Accordingly, Non-executive Directors are encouraged to acquire and hold shares in IGO commensurate with their personal circumstances. (V) OTHER TRANSACTIONS WITH KEY MANAGEMENT PERSONNEL During the current financial year, there were no other transactions with key management personnel or their related parties. (VI) VOTING OF SHAREHOLDERS AT LAST YEAR’S ANNUAL GENERAL MEETING Independence Group NL received more than 98% of “yes” votes on its remuneration report for the 2017 financial year. The Company sought feedback throughout the year on its remuneration practices through communications with key shareholders and proxy advisors. This feedback included advice on continuing to ensure greater transparency within the Remuneration Report and ensure remuneration across the business reflects the strategic direction of the Company. Following feedback in FY17, this year saw the Company introduce an additional performance condition for the LTIP. END OF AUDITED REMUNERATION REPORT 62 — IGO ANNUAL REPORT 2018