Igo Limited · ASX:IGO

Igo — Independence Group NL — AMEC Convention July 2014

29 slides from Igo's conference presentation, Jul 1, 2014

1. Slide 1: AMEC Convention July 2014

   For personal use only AMEC Convention July 2014 Peter Bradford, Managing Director & CEO

2. Slide 2: Disclaimer

   Disclaimer For personal use only This presentation has been prepared by Independence Group NL (“IGO”). It should not be considered as an offer or invitation to subscribe for or purchase any securities in IGO or as an inducement to make an offer or invitation with respect to those securities in any j

3. Slide 3: Presentation Outline

   Presentation Outline For personal use only  Introduction to Independence  March Quarter  Operations • Tropicana • Jaguar • Long  Exploration and Development  Going Forward  Summary Page 3

4. Slide 4: Introduction to Independence

   Introduction to Independence For personal use only  Listed on the ASX • Head Office in Perth  233.3M shares on issue • $1.0 billion market capitalisation(1)  Multi Commodity focus • Three operating mines • Producing Au, Ni, Zn and Cu  Strong brownfields exploration focus • Powered by innovation

5. Slide 5: The Independence Team

   The Independence Team For personal use only Board of Directors Peter Bilbe Peter Bradford Kelly Ross Rod Marston Geoff Clifford Chairman Managing Director & CEO Non Executive Director Non Executive Director Non Executive Director Management Brett Hartmann Tony Walsh Scott Steinkrug Andrew Eddowes Ti

6. Slide 6: March Quarter 2014

   March Quarter 2014 For personal use only March Quarter Highlights QTR YTD Unaudited Profit after tax $20.6M $42.1M Unaudited Underlying EBITDA(1) $56.5M $119.8M Net Cash Flow From Operating Activities $42.4M $104.4M Interim Dividend Paid 28th March 2014 3.0 cps Cash $47.4M Debt $50.4M $M March Quart

7. Slide 7: Tropicana JV

   Tropicana JV For personal use only  30% IGO and 70% AGA (Operator)  First gold in September 2013  At nameplate capacity in March 2014  Tropicana Vital Statistics: • 5.8 Mtpa Plant Throughput with potential to optimize • 11 Year Mine life • Years 1-3 Production Guidance  Average 141-147,000 oz p

8. Slide 8: Tropicana JV Reserves

   Tropicana JV Reserves For personal use only Reference IGO ASX Release 28/02/2014 Mineral Resources and Ore Reserve Estimates for Tropicana Gold Project Page 8

9. Slide 9: Tropicana JV Exploration

   Tropicana JV Exploration For personal use only  Tropicana Deeps • Enhanced pre-feasibility study commenced • Phased exploration targeting additional high grade shoots • 3D Seismic survey planned to map high grade shoots down plunge • Funded separately from Regional Exploration  Near Mine Explorati

10. Slide 10: Long

    Long For personal use only  12yrs of consistent low cost production  History of reserve replacement  Long Vital Statistics: • Mining rate 230,000-270,000tpa • 3-4 Year Mine Life based on Reserves  March Quarter 2014 • $8.5M Free Cash flow to IGO Parameter FY14 Mar Qtr FY14 Guidance 2014 YTD Prod

11. Slide 11: Long Reserves

    Long Reserves For personal use only * IGO ASX Release 25/10/2013 Mineral Resources and Ore Reserves Estimates for Long Nickel Operation Page 11

12. Slide 12: Jaguar

    Jaguar For personal use only  Production 100% from Bentley Deposit  Jaguar Vital Statistics: • Annual mining rate 420,000 – 460,000t • ~3 Year Mine Life based on Reserves  March Quarter 2014 • $8.6M Free Cashflow to IGO Parameter FY14 Mar Qtr FY14 Guidance 2014 YTD Production (Zn Tonnes) 38,700 –

13. Slide 13: Jaguar Reserves

    Jaguar Reserves For personal use only Reference: IGO ASX Release 25/10/2013 Mineral Resources and Ore Reserves Estimates for Jaguar Operation Page 13

14. Slide 14: Jaguar - Flying Spur

    Jaguar - Flying Spur For personal use only Reference: IGO ASX Release 20/02/2014 Jaguar Operation New Flying Spur Sulphide Lens Page 14 IGO ASX Release 28/04/2014 Independence Group Quarterly Activities Report

15. Slide 15: Jaguar Regional Exploration

    Jaguar Regional Exploration For personal use only  Under-explored 50km long prospective Cu-Zn-Ag VMS corridor surrounding three known mines  Ten Cu-Zn-Ag alteration anomalies under cover being systematically tested Page 15

16. Slide 16: Jaguar - Darlot JV (WA)

    Jaguar - Darlot JV (WA) For personal use only  Earn in JV • IGO earning a 70-80% interest • Partner - Enterprise Metals Ltd  Location and Tenure • 60 km north of Jaguar • Large land holding (740 km2)  Strategy • Past exploration focussed on Au • Updated geological model confirms Jaguar/Bentley st

17. Slide 17: Exploration & Development

    Exploration & Development For personal use only  Skilled and experienced team  Technical innovation • Geophysics • Geochemistry • Proprietary Databases • Generative R&D  Commodity focus • Gold • Base Metals  Grade/Quality focus  Australian focus • JV options embraced • Offshore generative progr

18. Slide 18: Stockman Project (VIC)

    Stockman Project (VIC) For personal use only  Located 420 road-km NE of Melbourne  Zn-Cu-Au-Ag VMS • Feasibility study completed 2013 • Enhanced study targeting a 30% capital reduction well progressed  9 year mine life based on Ore Reserves • Average 15Ktpa Cu and 25Ktpa Zn in concentrate  Explo

19. Slide 19: Lake Mackay JV (NT)

    Lake Mackay JV (NT) For personal use only  Earn in JV • IGO earning 70% • Partner - ABM Resources NL  Location & Tenure • Southern NT on WA border • Large tenure (6,700 km2)  Strategy • Large under-explored Tanami aged province • Targeting Tanami style Au + IOCG  Status • Geochem over third of c

20. Slide 20: Bryah Basin JV (WA)

    Bryah Basin JV (WA) For personal use only  Earn in JV • IGO earning up to 80% from Alchemy Resources  Location & Tenure • Murchison, WA • 300 km2 land holding  Strategy • Targeting De Grussa style Cu- Au deposits • Limited historical VMS exploration • Utilize in-house VMS expertise  Status • Her

21. Slide 21: Going forward

    Going forward For personal use only  Continued focus on operating assets • Safety, productivity and cost control • Delivery against plan and guidance • Resource conversion • Near mine exploration to expand resources and reserves  Exploration and development • Exploration to be a key component of t

22. Slide 22: Summary

    Summary For personal use only  March Quarter 2014 • NPAT of $20.6M  Up 200% and 65% on Mar 2013 and Dec 2013 quarters respectively • Tropicana achieves nameplate capacity • Debt reduced by $12M • Interim fully franked dividend of 3.0 cents per share paid  Outlook • Maintain operational discipline

23. Slide 23: Contact Details

    Contact Details For personal use only Peter Bradford Managing Director & CEO Tony Walsh Company Secretary Suite 4, Level 5, South Shore Centre 85 South Perth Esplanade South Perth, Western Australia, 6151 PO Box 496, South Perth, Western Australia, 6951 Telephone: +61 8 9238 8300 Facsimile: +61 8 92

24. Slide 24: Reserves & Resources - Competent Persons Statements

    Reserves & Resources For personal use only Competent Persons Statements Exploration Results The information in this report that relates to Exploration Results (excluding Flying Spur exploration results) is based on information compiled by Mr. Timothy Kennedy who is a full-time employee of the Compan

25. Slide 25: Resources & Reserves - Tropicana JV

    Resources & Reserves For personal use only TROPICANA JV Mineral Resource 31 December 2013 Ore Reserve 31 December 2013 100% Project 100% Project Classification Tonnes Mt Au g/t Contained Au Moz Classification Tonnes Mt Au g/t Contained Au Moz OPEN PIT Measured 28.6 2.06 1.89 OPEN PIT Indicated 74.0

26. Slide 26: Resources & Reserves - Long

    Resources & Reserves For personal use only LONG Mineral Resources 30 June 2013 Ore Reserves 30 June 2013 Classification Tonnes Ni% Ni Tonnes Classification Tonnes Ni% Ni Tonnes LONG Measured 61,000 5.4 3,300 LONG Proven 45,000 3.1 1,400 Indicated 213,000 5.2 11,100 Probable 66,000 2.9 1,900 Inferred

27. Slide 27: Resources & Reserves - Jaguar

    Resources & Reserves For personal use only JAGUAR Mineral Resources 30 June 2013 Ore Reserves 30 June 2013 Classification Tonnes Cu% Zn% Ag g/t Au g/t Classification Tonnes Cu% Zn% Ag g/t Au g/t JAGUAR Measured 264,000 2.4 3.4 47 - JAGUAR Indicated 181,000 1.8 2.0 28 - Proven 20,000 1.7 0.4 15 - Inf

28. Slide 28: Resources & Reserves - Stockman Project

    Resources & Reserves For personal use only STOCKMAN PROJECT Mineral Resources 30 June 2011 Mineral Resources 30 June 2013 Ore Reserves 30 June 2013 Classification Tonnes Mt Cu% Zn% Ag g/t Au g/t Classification Tonnes Mt Cu% Zn% Ag g/t Au g/t CURRAWONG Measured - - - - - CURRAWONG Indicated 9,548,000

29. Slide 29: Hedging Summary

    Hedging Summary For personal use only HEDGING SUMMARY Nickel Copper Gold Zero Cost Collars 5,500oz/month 600t averaging 550t averaging June Qtr 2014 Sept Qtr 2014 to CY 2014 range $18,900/t $8,014/t $1,300 to $1,783 200t per month Zero Cost Collars 4,375oz/month 400t averaging FY 2015 averaging Marc

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