• Achieved record first half shipments of 100Mt
• Delivered first large-scale battery energy storage system
• Entered binding agreement to acquire remaining stake in Alta Copper

Fortescue Ltd reported a strong performance in the December 2025 quarter, achieving record first half shipments of 100.2Mt, up 3% from the prior year. Total iron ore shipments in Q2 FY26 were 50.5Mt, contributing to the record first half result. The company maintained a leading safety performance with a Leading Safety Index of 160 and a Total Recordable Injury Frequency Rate of 1.5. Hematite C1 unit cost was US$19.10/wmt in Q2 FY26, resulting in a H1 FY26 C1 unit cost of US$18.64/wmt. Hematite average revenue was US$92.88/dmt, realizing 88% of the average Platts 62% CFR Index. Iron Bridge Concentrate revenue was US$121.68/dmt, 102% of the average Platts 65% CFR Index. The company's cash balance stood at US$4.7 billion at the end of December 2025, with net debt of US$1.0 billion. Fortescue also entered into a binding agreement to acquire the remaining 64% stake in Alta Copper, aligning with its critical minerals strategy. The company continued to progress its decarbonization initiatives, delivering its first large-scale battery energy storage system and expanding its electric mobile equipment fleet.

FY26 guidance for iron ore shipments of 195 - 205Mt, including 10 - 12Mt for Iron Bridge, Hematite C1 unit cost of US$17.50 - US$18.50/wmt, Metals capital expenditure of US$3.3 - US$4.0 billion, and Energy capital expenditure of approximately US$300 million and net operating expenditure of approximately US$400 million.

Fortescue continues to make progress across its global growth portfolio of metals, critical minerals, energy and technology opportunities, with a focus on disciplined capital allocation and delivery of integrated solutions to support the decarbonization of its operations and provide solutions for other heavy emitters.