INDEPENDENCE GROUP NL SUSTAINABILITY REPORT 2017

SCANDINAVIAN PROJECT IGO has been undertaking exploration activities in Scandinavia since 2007, under a number of nickel-copper focused joint ventures with the Toronto Stock Exchange (TSX)-listed company Mawson Resources Ltd (MAW), based in Finland. Project exploration activities to date have included regional prospecting, geochemical and geophysical surveys and drilling. In FY17 our activities were systematic ground- based geochemical and geophysical surveying. In FY18 the planned works will include on-ground geochemical follow- up sampling and airborne geophysical surveying. Subject to the success of this preliminary work, further ground-based surveys may be required, including drilling. IGO currently has one active project located in Northern Norrbotten County, namely Pessinki (13,452ha). The Pessinki Project intersects part of the Pessinki Nature Reserve (SE0820257, Natura 2000). The Scandinavian Project continues to regularly engage various stakeholders including individual landowners, the Inspectorate of Mines, the County Administration Board, and the Sami Traditional Owners. As noted in our 2016 Sustainability Report, some of those consulted parties had previously raised concerns. These concerns persist. The most common is a general concern about the scale and potential for widespread impact associated with mining: a concern that arises from the fact that, for many people, their only experience of mining in the region has been large- scale open-pit iron ore mining. Other concerns include the industry’s potential impacts on communities and individual’s lifestyles. Of specific and consistent concern is the potential to impact on traditional reindeer herding practices and water contamination. IGO, in association with its joint venture partners, is clearly an advocate for the benefits of mining. We are proud of our track record in best practice, safe and sustainable mining in Australia and being a valued member of the community. In this light, we have sought to pursue our interests in exploration while engaging with the community to address their concerns. We have employed a range of mitigation measures such as planning our activities in winter, where possible, to avoid the calving season of reindeer and the nesting season of bird life and, similarly, to avoid important traditions like the annual moose hunt, which begins 1 September every year. There have been no reported environmental incidents or community complaints in the reporting period. NORTHERN TERRITORY, SWEDEN PESSINKI KARESUANDO KIRUNA BRYAH BASIN PROJECT IGO’s exploration joint venture with Alchemy Resources Ltd (Alchemy) entitles IGO to earn a 70% to 80% interest in the Bryah Basin Project. The Bryah Basin Project is 100km north of Meekatharra in Western Australia, north-west of the Great Northern Highway. Following the discovery of the high-grade DeGrussa volcanogenic massive sulphide (VMS) copper-gold deposit in 2009, the area has become an exploration hotspot as VMS- style ore bodies often occur in clusters. IGO’s activities over the past year have been comprised of reverse circulation and diamond drilling. Numerous geochemical anomalies have been defined through air core drill-testing of favourable stratigraphic horizons. The southern and eastern portions of the project area fall within the former Doolgunna Pastoral Lease, which is now designated as a Proposed Conservation Area under the control of the Department of Biodiversity Conservation and Attractions. The project operates under an approved ECMP developed by Alchemy for those areas that fall within the former Doolgunna Pastoral Lease. The ECMP includes a risk assessment and protocols for proactive environmental management and rehabilitation. WESTERN AUSTRALIA BRYAH BASIN PROJECT (CU) IGO 70% – 80% 46 — IGO SUSTAINABILITY REPORT 2017