INDEPENDENCE GROUP NL ANNUAL REPORT 2017

Consolidated statement of cash flows For the year ended 30 June 2017 Notes 2017 $'000 2016 $'000 Cash flows from operating activities Receipts from customers (inclusive of goods and services tax) 416,375 441,317 Payments to suppliers and employees (inclusive of goods and services tax) (323,416) (320,926) 92,959 120,391 Interest and other costs of finance paid - (49) Interest received 2,201 1,587 Payments for exploration expenditure (18,022) (20,032) Receipts from other operating activities 540 163 Net cash inflow from operating activities 77,678 102,060 Cash flows from investing activities Interest and other costs of finance paid (13,431) (6,866) Payments for property, plant and equipment (14,564) (10,711) Proceeds from sale of property, plant and equipment and other investments 2,418 16,961 Payments for purchase of listed investments (5,994) (1,605) Payments for development expenditure (220,481) (215,489) Payments for capitalised exploration and evaluation expenditure (3,662) (10,586) Payment for acquisition of subsidiary, net of cash acquired (17,574) (202,052) Net cash (outflow) from investing activities (273,288) (430,348) Cash flows from financing activities Proceeds from issues of shares 17(b) 281,459 - Share issue transaction costs 17(a) (7,526) - Proceeds from borrowings - 271,000 Transaction costs associated with borrowings - (5,355) Repayment of borrowings (71,000) - Repayment of finance lease liabilities - (510) Payment of dividends 19 (17,601) (12,786) Net cash inflow from financing activities 185,332 252,349 Net (decrease) in cash and cash equivalents (10,278) (75,939) Cash and cash equivalents at the beginning of the period 46,264 121,296 Effects of exchange rate changes on cash and cash equivalents (223) 907 Cash and cash equivalents at the end of the period 7 35,763 46,264 The above consolidated statement of cash flows should be read in conjunction with the accompanying notes. Independence Group NL 38 68 — IGO ANNUAL REPORT 2017 CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 30 JUNE 2017