Announcement PDF 24 September, 2015 The Manager Company Announcements ASX Limited 20 Bridge Street SYDNEY NSW 2000 Dear Sir or Madam, Argo Investments Limited (Argo) 2015 Share Purchase Plan Argo’s 2015 Share Purchase Plan (SPP) has closed for applications. We advise that the price to calculate the number of New Shares to be issued to SPP participants will be $7.75 per New Share. This price has been determined in accordance with the Terms and Conditions of the SPP Offer as the lower of: (a) $7.85; or (b) The volume-weighted average price of Argo Shares traded on the ASX over the 5 trading days up to and including the Closing Date, rounded down to the nearest cent (calculated to be $7.75). It is expected that the New Shares will be issued on 7 October, 2015, or as soon as possible after that date. Argo will apply for the New Shares issued under the SPP to be quoted on the ASX. All New Shares issued under the SPP will rank equally with existing Argo Shares from the date of issue, and carry the same voting rights, dividend rights and other entitlements as existing Argo Shares. The SPP applications will not be subject to scale back. Yours faithfully, ARGO INVESTMENTS LIMITED T.C.A. Binks Chief Operating Officer