IGO LIMITED — Major Shareholding Notification 2016

May 5, 2016

Form 603 Corporations Act 2001 Section 671B

Notice of initial substantial holder

To Company Name/Scheme	ABM Resources NL
ACN/ARSN	009 127 020
1. Details of substantial holder (1) Name	Independence Group NL (ACN 092 786 304) (Independence) and each of the entities listed in Annexure A
ACN/ARSN (if applicable)	See Annexure A
The holder became a substantial holder on	05/05/2016
2. Details of voting power	The total number of votes attached to all the voting shares in the company or voting interests in the scheme that the substantial holder or an associate (2) had a relevant interest (3) in on the date the substantial holder became a substantial holder are as follows:

Class of securities (4)	Number of securities	Person's votes (5)	Voting power (6)
Fully paid ordinary shares	33.936.651	33.936.651	9% (based on 376,891,137 ordinary shares on issue)

3. Details of relevant interests

The nature of the relevant interest the substantial holder or an associate had in the following voting securities on the date the substantial holder became a substantial holder are as follows:

Holder of relevant interest	Nature of relevant interest (7)	Class and number of securities
Independence	Relevant interest under section 608(1) of the Corporations Act as registered holder 33,936,651 ordinary shares lof the shares

4. Details of present registered holders

The persons registered as holders of the securities referred to in paragraph 3 above are as follows:

Holder of relevant	Registered holder of	Person entitled to be	Class and number I
interest	securities	registered as holder (8)	of securities
lindependence	lindependence	Independence	33,936,651 ordinary Ishares

5. Consideration

The consideration paid for each relevant interest referred to in paragraph 3 above, and acquired in the four months prior to the day that the substantial holder became a substantial holder is as follows:

Holder of relevant interest	Date of acquisition	Consideration (9)	Class and number of securities
lindependence	05/05/2016	\$0.0442 per ordinary share I(a total of \$1,500,000)	33,936,651 ordinary Ishares

6. Associates

The reasons the persons named in paragraph 3 above are associates of the substantial holder are as follows:

Name and ACN/ARSN (if applicable)	Nature of association
The companies listed in Annexure A	Each company listed in Annexure A is an associate of Independence pursuant to section 12 of the Corporations Act as it is controlled by Independence

7. Addresses

The addresses of persons named in this form are as follows:

Name	Address
Independence and each company listed in Annexure A	Suite 4 Level 5, 85 South Shore Esplanade, South Perth, Western Australia, 6151

Signature

DIRECTIONS

If there are a number of substantial holders with similar or related relevant interests (eg. a corporation and its related corporations, or the manager and $(1)$ trustee of an equity trust), the names could be included in an annexure to the form. If the relevant interests of a group of persons are essentially similar, they may be referred to throughout the form as a specifically named group if the membership of each group, with the names and addresses of members is clearly set out in paragraph 7 of the form.

• See the definition of "relevant interest" in sections 608 and 671B(7) of the Corporations Act 2001. $(3)$
• $(4)$ The voting shares of a company constitute one class unless divided into separate classes.
• The total number of votes attached to all the voting shares in the company or voting interests in the scheme (if any) that the person or an associate has a $(5)$ relevant interest in.

The person's votes divided by the total votes in the body corporate or scheme multiplied by 100. $(6)$

• $(7)$ Include details of:
• any relevant agreement or other circumstances by which the relevant interest was acquired. If subsection 671B(4) applies, a copy of any (a) document setting out the terms of any relevant agreement, and a statement by the person giving full and accurate details of any contract, scheme or arrangement, must accompany this form, together with a written statement certifying this contract, scheme or arrangement; and
• $(b)$ any qualification of the power of a person to exercise, control the exercise of, or influence the exercise of, the voting powers or disposal of the securities to which the relevant interest relates (indicating clearly the particular securities to which the qualification applies).

See the definition of "relevant agreement" in section 9 of the Corporations Act 2001.

• $(8)$ If the substantial holder is unable to determine the identity of the person (eg. if the relevant interest arises because of an option) write "unknown."
• Details of the consideration must include any and all benefits, moneys and other, that any person from whom a relevant interest was acquired has, or $(9)$ may, become entitled to receive in relation to that acquisition. Details must be included even if the benefit is conditional on the happening or not of a contingency. Details must be included of any benefit paid on behalf of the substantial holder or its associate in relation to the acquisitions, even if they are not paid directly to the person from whom the relevant interest was acquired.

$(2)$ See the definition of "associate" in section 9 of the Corporations Act 2001.

Annexure A

This is Annexure A of 1 page referred to in Form 603 - Notice of initial substantial holder signed by me and dated 6 May 2016

$\sqrt{2}$ ست Scott Steinkrug

Company Secretary Independence Group NL (ACN 092 786 304)

Related bodies corporate of Independence Group NL (ACN 092 786 304) Independence Long Pty Ltd (ACN 098 270 789) Independence Nova Holdings Pty Ltd (ACN 009 150 083) Independence Nova Pty Ltd (ACN 146 091 527) Independence Karlawinda Pty Ltd (ACN 146 899 863) Independence Newsearch Pty Ltd (ACN 142 192 701) Independence Jaguar Pty Ltd (ACN 060 620 751) Independence Esp Pty Ltd (ACN 120 336 245) Independence Jaguar Exploration Parent Pty Ltd (ACN 124 695 558) Independence Jaguar Exploration Pty Ltd (ACN 124 695 530) Independence Stockman Parent Pty Ltd (ACN 124 695 549) Independence Stockman Project Pty Ltd (ACN 124 695 567) Independence Jaguar Project Parent Pty Ltd (ACN 145 736 278) Independence Jaguar Project Pty Ltd (ACN 145 739 251) Independence CM Pty Ltd (ACN 145 736 661) Independence Projects Pty Ltd (ACN 145 737 364) Independence BBS Pty Ltd (ACN 145 737 891 Independence Europe Pty Ltd (ACN 167 644 519)