• Record half year iron ore shipments of 97.1Mt
• Underlying EBITDA of US$3.6B and NPAT of US$1.6B
• Fully franked interim dividend of A$0.50 per share

Fortescue Ltd has reported an outstanding operational performance for the first half of FY25, with the company achieving its highest ever half year iron ore shipments of 97.1Mt, 3% higher than the previous corresponding period. This strong supply chain performance contributed to an Underlying EBITDA of US$3.6 billion and net profit after tax (NPAT) of US$1.6 billion. The company's balance sheet remains robust, with a net debt position of US$2.0 billion at 31 December 2024. In line with Fortescue's commitment to delivering returns to shareholders, the Board has declared a fully franked interim dividend of A$0.50 per share, representing a 65% payout of first half NPAT. The company continues to make significant progress on its decarbonisation plan, including a US$2.8 billion partnership with Liebherr for zero emissions mining equipment. Fortescue's green energy projects are also advancing, though timelines have been adjusted to reflect global market conditions and uncertain policy settings. Overall, Fortescue has delivered a strong first half performance, underpinned by its operational excellence and continued progress on its sustainability and growth initiatives.

FY25 iron ore shipments of 190 - 200Mt, including 5 - 9Mt for Iron Bridge (100% basis). Hematite C1 cost of US$18.50 - US$19.75/wmt. Fortescue Metals capital expenditure of US$3.5 - US$3.8 billion. Fortescue Energy net operating expenditure of approximately US$700 million and capital expenditure of approximately US$400 million.