INDEPENDENCE GROUP NL SUSTAINABILITY REPORT 2018

EUROPEAN PROJECTS 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). Project exploration activities to date have included regional prospecting, geochemical and geophysical surveys and drilling. In FY18, IGO conducted limited on-ground geochemical follow- up sampling and geophysical surveys, as well as airborne geophysical surveying. This concluded IGO’s exploration in Scandinavia and the projects have been relinquished. Prior to relinquishment, we continued to regularly engage various stakeholders including individual landowners, the Inspectorate of Mines, and the Sami Traditional Owners. IGO very recently signed a JV agreement with Greenfields Exploration to initiate the Frontier Project in Greenland. The current tenement holdings cover 12,975 square kilometres and are highly prospective for copper and other base metals. IGO will provide further updates of initial exploration activities in the next sustainability report. SWEDEN PESSINKI KARESUANDO KIRUNA STOCKMAN PROJECT The Stockman Project became part of IGO through the acquisition of Jabiru Metals Ltd in 2011. It is located in the East Gippsland region of north-eastern Victoria, approximately 460km by road from Melbourne. The Stockman Project consists of two defined copper-zinc- silver-gold deposits, Wilga and Currawong, and various prospects and exploration targets. The larger Currawong deposit is fully intact. A core of copper rich ore from the Wilga deposit was previously mined between 1992 and 1996. In June 2017, IGO announced the divestment of the Stockman Project to Round Oak Minerals Pty Limited (formerly CopperChem Pty Limited). Round Oak is a wholly-owned subsidiary of Washington H. Soul Pattinson and Company Limited, which, like IGO, is a publicly-listed Australian company. The sale of Stockman was consistent with IGO’s strategy of focusing on assets of scale aligned to the battery metals sector. 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 worked with Round Oak to complete community consultation regarding the sale transaction. VICTORIA STOCKMAN PROJECT IGO 100% 48 — IGO SUSTAINABILITY REPORT 2018