• Record total iron ore shipments of 198.4Mt in FY25, 4% higher than FY24
• Hematite C1 cost of US$17.99/wmt in FY25, 1% lower than FY24
• Iron Bridge Concentrate revenue of US$108/dmt, 100% of the Platts 65% CFR Index

Fortescue delivered a strong operational performance in FY25, achieving record total iron ore shipments of 198.4Mt, 4% higher than the previous year. This was driven by ongoing focus on safety, efficiency and operational excellence across mining, processing, rail and shipping. Hematite C1 cost declined 1% to US$17.99/wmt, meeting the lower end of market guidance. Iron Bridge Concentrate revenue was US$108/dmt, representing 100% of the average Platts 65% CFR Index. The company continued to progress its decarbonisation efforts, including the completion of the transmission line between Solomon and Eliwana and deployment of the first electric drill rig. Fortescue's green energy project pipeline is being progressed in a disciplined manner, with the Arizona Hydrogen and PEM50 projects not proceeding. The company provided FY26 guidance for total shipments of 195-205Mt, including 10-12Mt from Iron Bridge, and a Hematite C1 cost of US$17.50-US$18.50/wmt.

FY26 guidance for total shipments of 195-205Mt, including 10-12Mt from Iron Bridge (100% basis), and a Hematite C1 cost of US$17.50-US$18.50/wmt.

Fortescue remains focused on safely ramping up Iron Bridge, breaking new production records, and accelerating its decarbonisation efforts, including the advancement of green iron. The company sees strong support from Australia and China to collaborate on a green iron and steel supply chain.