Independence Group Sustainability Report 2019

NOVA OPERATION The Nova Operation is a greenfield high-grade nickel-copper-cobalt deposit located in the Fraser Range, approximately 140km east northeast of Norseman. The operation sits within the Great Western Woodlands. The Ngadju people are the Traditional Owners and custodians of this area, with their native title recognised by the Federal Court on 21 November 2014. The Nova deposit was discovered in July 2012, with the operation reaching nameplate ore production in the September 2017 quarter. Mining occurs via underground stoping and the processing method is conventional crushing, grinding, flotation and filtration. TROPICANA OPERATION The Tropicana Operation is located on the western edge of the Great Victoria Desert, making it one of the most isolated mining operations in Western Australia. The Wongatha and Spinifex peoples are the Traditional Owners and custodians of the land. Mining occurs via open pit with production from up to four contiguous pits, which extend approximately 5km in strike length. The processing methodology involves conventional crushing, grinding and carbon-in-leach recovery. The Boston Shaker underground mine at Tropicana is currently being developed and is expected to deliver its first gold production in the September 2020 quarter. MINERAL TITLES In FY19, IGO continued to increase our total landholdings, making significant progress in consolidating our ground position at our most prospective belt-scale exploration projects. Our tenements, including joint venture landholdings, have grown to over 4 million hectares, which represents our projects in the Fraser Range and West Kimberley of Western Australia, Lake Mackay and Raptor in the Northern Territory and Frontier in Greenland. The significant increase in land tenure since FY18 was primarily through our Greenland exploration licence and our West Kimberley joint venture acquisition with Buxton Resources. There was a decrease in our mining lease, miscellaneous and other licences, and freehold land due to the divestment of the Long Operation. At the end of FY19, exploration licences again represent the majority of mineral tenements held by IGO. A breakdown of total landholdings is presented in below. IGO landholdings by mineral tenement (hectares) FY19 FY18 FY17 Prospecting licences 400 1,780 2,480 Exploration licences 3,992,640 1 1,356,880 1,596,600 Mining leases 4,670 36,295 49,254 Miscellaneous and other licences 4,054 752,883 286,969 Freehold 2 0 721 1,329 Total IGO landholdings 3 4,001,764 2,148,559 1,936,632 1. Figure includes the Greenland Exploration Licence for 1,510,340ha. 2. Freehold land previously reported was associated with the Long Operation, which was divested on 31 May 2019. 3. Figures include IGO managed tenure, including joint venture landholdings as at 30 June 2019. REGIONAL EXPLORATION AND DEVELOPMENT Exploration and discovery are a key pillar of IGO’s growth strategy. We are committed to achieving a step-change in growth through targeted belt-scale exploration projects. In FY19 we realigned our portfolio of projects to maintain a clear focus on delivering the new IGO strategy. We also made significant progress in consolidating our ground position at our most prospective belt- scale exploration projects, including the Fraser Range and West Kimberley regions of Western Australia, and the Lake Mackay and Raptor projects of the Northern Territory. Read more about our key operations and projects in our 2019 Annual Report and on our website. IGO SUSTAINABILITY REPORT 2019 — 9