Fenix Resources (FEX) Corporate presentation summary

Strategic growth and production targets

• Aims to ramp up iron ore production to 6Mtpa by FY28, with a long-term target of 10Mtpa beyond February 2026, supported by upgraded FY26 guidance of 4.2–4.8Mtpa.

• Weld Range Project secures a 290Mt resource base with a 30-year mining agreement, enabling sustained, large-scale operations.

• Transitioning to integrated hub operations, consolidating mines and infrastructure to maximize efficiency and reduce logistics complexity.

• Three-year production plan fully funded from operations, leveraging high-confidence reserves and measured resources.

Financial performance and value creation

• Weld Range Project delivers substantial value, with a pre-tax NPV10 of A$3.0B at spot prices and pre-tax free cash flows of A$5.9B.

• LoM average annual production of 9.8Mtpa at a C1 cash cost of A$55.4/wmt, with a pre-tax IRR of up to 167% and payback in 1.7 years at spot prices.

• Trading at a low EV/EBITDA multiple compared to peers, with a disciplined capital allocation and commitment to shareholder returns.

Integrated operations and infrastructure

• Operates a fully integrated pit-to-port model, owning 100% of mining, logistics, and port assets, with capacity to support up to 10Mtpa.

• Strategic port access at Geraldton secured to 2054, supporting long-term growth and export capacity.

• New state-of-the-art logistics infrastructure, including a Geraldton workshop and private haul road, to reduce costs and support expansion.