• Shipped 974k wmt of iron ore despite Cyclone Narelle impacts
• Maintained C1 cash costs at A$70/wmt, bottom of guidance
• Cash position grew to A$86.3m, up from A$78.9m in prior quarter

Fenix Resources Ltd (ASX: FEX) is pleased to report on a strong operational and financial performance in the March 2026 quarter, despite the impacts of Tropical Cyclone Narelle and increased diesel fuel costs. The company shipped 974k wmt of iron ore across sixteen vessels, with two shipments rescheduled to April due to the Geraldton Port closure. Group C1 cash costs were A$70.0/wmt, a 7% reduction from the prior quarter and at the bottom end of guidance. Fenix's cash position grew to A$86.3m as at 31 March 2026, up from A$78.9m in the prior quarter. The company's hedge book remains strong, with 1,320,000t of iron ore hedged at A$150.28/t through to June 2027, and 18m litres of diesel fuel secured at prices between US$0.6874/l and US$0.7876/l in FY27. Fenix's Beebyn-Hub development is accelerating, with a new 5Mtpa crushing plant under construction, and the Weld Range Definitive Feasibility Study is progressing, with completion expected in the second half of calendar year 2026. FY26 guidance for total iron ore sales of 4.2 to 4.8Mt at a C1 cash cost of A$70/wmt to A$80/wmt FOB Geraldton remains unchanged.

FY26 total iron ore sales of 4.2 to 4.8Mt at a C1 cash cost of A$70/wmt to A$80/wmt FOB Geraldton.