Iron Road (IRD) AGM 2026 presentation summary

Capital and project position

• At 30 September 2026: 840.2M shares on issue, share price $0.009, market capitalisation $7.6M, cash $1.2M, no debt and enterprise value $6.4M; 40.0M unlisted warrants/performance rights.

• Substantial holders represented 39.3% of shares, Board and Management 4.2%, and other investors 56.5%.

Central Eyre Iron Project

• The Warramboo Orebody hosts a 3,681 Mt Ore Reserve, described as Australia's largest magnetite Ore Reserve; Federal and State approvals are in place.

• Cape Hardy export pathway centres on a 100%-owned, 1,192-ha gulf-front landholding and a proposed multi-user, multi-commodity port with naturally deep water close to shore.

• Test work indicates conventional magnetic and gravity separation can produce sinter feed concentrate at 66.63% Fe and DR-grade concentrate at 69.70% Fe.

Cape Hardy renewable energy and hydrogen

• Revera Energy proposes local renewable projects to power green hydrogen production and support South Australia's 100% net renewables target; hydrogen could feed pelletised green iron or other commercial offtake.

• The activation facility is based on up to 150 MW of renewable energy for up to 50 MW of hydrogen electrolysis; Revera holds a final option over 469 ha for $6.75M, exercisable by 30 June 2027.

• The project received Federal Major Project Status in 2024 and a South Australian Renewable Energy Feasibility Permit in early 2026.