Central Eyre Iron Project Impairment Charge

• $96.5m non-cash impairment charge to be recognised in Interim Report
• Carrying value for CEIP exploration and evaluation reduced to $28.2m
• Separate $9.9m land holdings at Cape Hardy remain unchanged

Iron Road Ltd has announced that it will recognise a non-cash impairment charge of $96.5m when it lodges its Interim Report for the half-year ended 31 December 2025. This write-down has arisen following the directors engaging an independent expert to review the Company's South Australian Central Eyre Iron Project (CEIP) from an impairment assessment perspective. The amended $28.2m carrying value for CEIP exploration and evaluation, recommended by the independent expert, specifically excludes 1,207 hectares of land holdings at Cape Hardy, Eyre Peninsula. These contiguous land parcels, designated as a separate non-current asset, have an unchanged balance sheet value of $9.9m, reflecting land acquisition costs between 2012-2021.