IGO Limited (ASX: IGO) (IGO) refers to the offers made under an off-market takeover bid for all of the shares in Panoramic Resources Limited (ASX: PAN) (Panoramic) announced on 4 November 2019 (Offers) and set out in IGO's replacement bidder's statement dated 22 November 2019 (as supplemented) (Bidder's Statement).

IGO confirms that the Offer period closed at 7.00pm (Sydney time) on 17 January 2020. As a number of defeating conditions to the Offer were not waived or satisfied at this time, the Offer lapsed

Panoramic shareholders who accepted the Offer will have their acceptances cancelled and will be free to deal with their Panoramic shares as they see fit.

Enclosed, by way of service pursuant to section 671B(1) of the Corporations Act 2001 (Cth), is IGO's notice of ceasing to be a substantial holder with respect to Panoramic. A copy of this notice has been provided to Panoramic today.

Contact:

Richard Glass

Tel: +61 8 9238 8300

Email: investor.relations@igo.com.au

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