INDEPENDENCE GROUP NL SUSTAINABILITY REPORT 2017

MESSAGE FROM CHAIRMAN & CEO IGO has a set of publicly stated values that genuinely inform the decisions we make. It is our intent that consideration is always given to how things get done and the subsequent impacts of our actions. In this report we seek to quantify how IGO’s business affects our people, our host communities, and the environment in which we operate. This report also serves as a means for us to address those environmental, social and governance matters that are of most concern to our stakeholders. It was once the case that our stakeholders could be divided between those with a financial interest in our business and those concerned with our socio- environmental impacts. Increasingly, this is an artificial distinction. The public takes an ever-growing interest in circumstances where poor governance is demonstrated by any business of scale and what tax, if any, is being paid by corporate entities. Similarly, our institutional and private investors expect us to profit in a manner that serves the community well – with known, constrained, and regulated impacts. Many mainstream institutions have taken unequivocal public positions on these matters. For example, in July 2017, the Australian Council of Superannuation Investors (ACSI), whose members purportedly manage over $1.5 trillion in assets, stated its aspiration to ‘achieve a genuine, measurable and permanent improvement in the Environment, Social and Governance (ESG) practices and performance of the companies in which they invest’. As of 2016, 92% of the top 200 ASX- listed companies provide some level of sustainability reporting. The need to report is therefore no longer in question; rather the challenge is to provide the right information in terms of both quality and quantity. At IGO, careful consideration has been given to this matter. In our previous two reports, we provided information in general conformance to the Global Reporting Initiative (GRI) methodology. This choice was in line with industry trends. In a 2015 survey of sustainability reporting across 45 countries, KPMG reported that 60% of all reporting entities were using the GRI guidelines, which we continue to follow. The world is rapidly changing. It is anticipated that sustainability reporting will increasingly become more akin to financial reporting. The GRI, and comparable methodologies, will likely transition from producing guidelines to having prescriptive standards with an increasing emphasis on the validation of data. Further, the business community is anticipating the introduction of new disclosure requirements, and a move from voluntary to mandatory disclosure – particularly in the areas of tax and climate-related financial disclosures. Given these developments, IGO will explore how we and our stakeholders might be best-served by this change – a change that will likely see us move to more integrated reporting of both financial and environmental, social and governance matters. However, our choice of reporting method does not speak to our motivation to report. IGO produces a sustainability report, not because it PETER BILBE CHAIRMAN PETER BRADFORD MANAGING DIRECTOR & CHIEF EXECUTIVE OFFICER On behalf of the Board of Directors, we are pleased to present the 2017 IGO Sustainability Report. 02 — IGO SUSTAINABILITY REPORT 2017