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Targeting Production Growth and Mine Life Extension ​

• In October 2023, Fenix signed a binding agreement with Sinosteel Midwest Corporation securing the exclusive right to mine and export up to 10 million dry metric tonnes of iron ore from the high-grade Beebyn-W11 iron ore deposit in the Weld Range​
• Beebyn-W11 has a JORC 2012 Mineral Resource Estimate of 20.5 million tonnes at a grade of 61.3% Fe1​
• Beebyn-W11 is located only 20km from current mining operations at Iron Ridge and provides an opportunity to boost mining production, extend the life of regional operations and further reduce costs through utilisation of Fenix’s existing infrastructure and regional transport and logistics capabilities​
• Fenix is progressing approvals with the ambition of commencing mining at Beebyn-W11 during 2024

In May 2019 Fenix formed a strategic alliance with trucking and logistics company, Newhaul Pty Ltd. This was a significant step towards the development of Fenix’s Iron Ridge Project located in the Mid-West region of Western Australia.

Fenix and Newhaul formed a new joint venture company which is known as Fenix Newhaul Pty Ltd (FNH). FNH provides all trucking services to the Project and has a brand-new fleet of Volvo and Mack prime movers and trailers purpose-built by Western Australian companies, Bruce Rock Engineering and Howard Porter.

In June 2022 Fenix announced that the Company signed definitive agreements with Newhaul Pty Ltd to acquire Newhaul’s 50% interest in Fenix-Newhaul Pty Ltd, resulting in the consolidation of 100% ownership of the haulage business into Fenix.

The key benefits to Fenix, include:

• Highly profitable state-of-the-art fully integrated logistics business
• Immediate reduction in C1 FOB cash costs by ~A$10 per tonne enabling Fenix to target total cash costs of ~A$70/wmt
• Value accretive on an Earnings per Share Dividend per Share basis
• Additional value expected from operational flexibility advantages
• Is forecast to result in higher earnings for FEX and higher dividends for shareholders
• Integrated model unlocks strategic expansion opportunities in Mid-West by combining mining expertise with logistics capabilities in haulage and port operations
• Allows FEX to be substantially more resilient & robust to commodity price volatility
• Transaction a key outcome from Board’s recent strategic review

Haulage 

• Fenix owns 100% of Fenix-Newhaul Pty Ltd, which provides haulage services to and from Iron Ridge​
• Haulage fleet of 30 x 200-tonne quad road trains, deploying technology to reduce costs and maximise safety & wellbeing​

Port ​

• Lease agreement and export allocation at Geraldton Port​
• Warehouse storage capacity of ~400,000 tonnes ​
• On-wharf ship loading infrastructure with in-loading access via truck or rail – consistently achieving shortest loading times through aligned port operations team ​

Rail ​

• Two rail sidings provide access to the Mid-West rail network connecting to Geraldton Port ​
• Assembly locations for product storage and blending activities​

Uniquely Positioned to Offer Mine to Port Solutions for Regional Producers

• The Mid West Ports Authority estimated tonnage shipped through Geraldton Port will increase significantly over the next 10 years
• Fenix can provide emerging and established Mid-West miners afully integrated infrastructure and transportation solution
• Fenix can support multiple bulk commodities through its three sheds at port