INDEPENDENCE GROUP NL SUSTAINABILITY REPORT 2017

Jacob Cichosz Administration Assistant/ Geology Student PROFILE – JACOB CICHOSZ My unexpected and remarkable journey with IGO started almost as unpredictably as it possibly could – by winning the WA Mining Club Geology Scholarship sponsored by IGO. I was a mature age student that migrated to Australia several years before, in my second year of studies, with my wife and a baby on the way. This description is an explosive mixture of big dreams and a willingness to go beyond my safe zone to achieve greatness in life. Why explosive? Because it involved many years of hard work, sacrifices and tremendous support from my lovely wife. IGO and the WA Mining Club allowed my potential to be realised. Nevertheless, one wonderful action led to another, and later I was invited to work as a casual administration assistant with IGO in the New Business team, with openness and flexibility to fit around my University timetable. During my time working in the office, helping people and working along exceptional and inspiring professionals from IGO, I have grown both professionally and personally. IGO did not stop there and, during my University winter break for six weeks, I worked as part of the Air Core Exploration Team in the Fraser Range as a Field Geological Assistant. Experience and confidence earned in the field is unimaginably big for a student like me, and it allowed me to work and try even harder to achieve my career goals. I would like to express my deep and genuine gratitude and appreciations to all IGO people who have seen my potential and allowed me to grow – you have changed my life. STOCKMAN PROJECT The Stockman Project, located in the East Gippsland region of north-eastern Victoria, approximately 460km by road from Melbourne, was acquired as part of IGO’s 2011 acquisition of Jabiru Metals Ltd. The Stockman Project encompasses two defined copper- zinc-silver-gold deposits, Wilga and Currawong, and various prospects and exploration targets. A core of copper rich ore from the Wilga deposit was previously mined between 1992 and 1996. The larger Currawong deposit is fully intact. In June 2017, IGO announced the divestment of the Stockman Project to CopperChem. CopperChem is a wholly owned subsidiary of Washington H Soul Pattinson and Company Limited, which like IGO, is a publicly listed Australian company. Notwithstanding the sale, IGO will retain a financial interest in the project. The sale of Stockman is consistent with IGO’s strategy of focusing on assets of scale. Further, the project is not geographically proximal to IGO’s existing activities and is not of sufficient scale to be a core asset in the IGO portfolio. As part of this strategic direction we sought an owner better- suited to its size and scale and therefore best-equipped to realise the project’s value. IGO, in collaboration with CopperChem, continues to seek the necessary approvals to finalise the sale transaction and develop an operation that would see the concurrent underground mining of Wilga and Currawong. A 1.0Mtpa differential flotation concentrator will process the resulting ore to produce approximately 150,000tpa of copper and zinc concentrates over a project life of approximately ten years. The concentrate would be sold to custom smelters (most probably in the southern Asia region). The Environmental Effects Statement (EES) for the Stockman Project, the overarching permitting instrument for the project under the Victorian Environment Effects Act 1978 , received a positive approval from the Federal Government, subject to conditions, in November 2014. Approvals efforts in the last 12 months have focused on the preparation of a Project Work Plan (and associated management and monitoring plans). A number of minor approvals were received in FY17, including the Planning Scheme Amendment to allow the construction of the mining camp outside the current tenure footprint. WESTERN AUSTRALIA STOCKMAN PROJECT (CU-ZN-AG) IGO 100% IGO SUSTAINABILITY REPORT 2017— 47

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