IPE : Annual Report to Shareholders (23 August 2017)

IPE Limited

IPE Limited ABN 48 107 843 381 c/o Pomona Australia Pty Limited Level 12, 83 Clarence Street Sydney NSW 2000 Australia T: [phone] E: [e-mail] W: ipelimited.com.au

23 August 2017

The Manager, Listings

Company Announcements Office Australian Securities Exchange Level 4, Exchange Centre

20 Bridge Street

SYDNEY NSW 2000

2017 Appendix 4E and Annual Report

Attached are:

• The Appendix 4E for 30 June 2017;

• The Company's 2017 Annual Report

The Annual Report will be sent to shareholders on 29 August 2017 for those shareholders who have elected to receive a hard copy.

The Annual Report will also be posted on the Company's website: www.ipelimited.com.au

Yours sincerely,

Sam Jackson Company Secretary

IPE Limited P 1 of 1

IPE Limited IPE Limited

ABN 48 107 843 381

Appendix 4E Preliminary Final Report Period Ending 30 June 2017

Appendix 4E Preliminary Final Report For the period ending 30 June 2017 ASX Disclosures as required by ASX Listing Rule 4.3A

1.	Reporting period ("current period"):	Financial year ended 30 June 2017
Previous corresponding period:	Financial year ended 30 June 2016

1. Results for announcement to the market:

   2.1	Revenue from ordinary activities ($'000)	Up	9%	$5,981
   2.2	Profit/(Loss) from ordinary activities after tax attributable to members ($'000)	Down	150%	($1,032)
   2.3	Profit/(Loss) for the period attributable to members ($'000)	Down	150%	($1,032)
   2.4	2017 Dividends & Capital Returns:	3.80 cps	Franking
   	Capital return paid on 25 November 2016		N/A
   	Interim dividend paid on 25 November 2016	2.20 cps	100%
   	Capital return paid on 12 April 2017	2.70 cps	N/A
   	Interim dividend paid on 12 April 2017	1.20 cps	0%
   	2016 Dividends & Capital Returns:
   	Capital return paid on 2 December 2015	4.50 cps	N/A
   	Interim dividend paid on 2 December 2015	1.00 cps	100%
   	Capital return paid on 20 May 2016	2.75 cps	N/A
   	Interim dividend paid on 20 May 2016	5.75 cps	0%
   2.5	Record date for determining 2017 final dividend entitlement	Not applicable
   2.6	Brief Explanation: Refer Annual Report (attached)

2. Statement of Profit or Loss and Other Comprehensive Income together with notes - refer attached.

3. Statement of Financial Position together with notes - refer attached.

   Appendix 4E Preliminary Final Report Period Ending 30 June 2017

4. Statement of Cash Flows together with notes - refer attached.

5. Statement of Change in Equity - refer attached.

6. Dividends - refer attached. No part of the dividends paid during the year were foreign sourced.

7. Dividend Reinvestment Plan - the Plan has been suspended and there is no intention to re-instate it.

8. Net tangible assets per share:

   Period	NTA per share before tax	NTA per share after tax
   30 June 2017	$0.106	$0.106
   30 June 2016	$0.220	$0.213

9. There were no entities over which control has been gained or lost during the period.

10. There were no associates or joint venture entities during the financial period.

11. There is no other significant information to report, other than what has been disclosed, that would be needed by an investor to make an informed assessment of the entity's financial performance and financial position.

12. Accounting standards used by foreign entities - not applicable.

13. Commentary on the results for the period - refer attached.

14. This report is based on accounts which have been audited. Refer attached audit report.

IPE Limited

ANNUAL REPORT 30 JUNE 2017

ABN 48 107 843 381