Quarterly Activities/Appendix 5B Cash Flow Report

• Process Waste Handling Optimisation Study underway
• Non-magnetic Iron Byproduct detailed test work continues
• $2.2M Share Placement completed

Hawsons Iron Ltd has provided a quarterly update on its activities. During the quarter, the company commenced a study on process waste handling and management at the Hawson Iron Project, with TAKRAF, a world leader in bulk material handling systems, engaged to produce the study. The company also commenced work on a study focused on liberating the non-magnetic iron from the process waste stream to potentially generate a hematite byproduct revenue stream. Additionally, the company raised $2.2M through a share placement, which will fund targeted initiatives aimed at enhancing the project economics, reducing development risk, and supporting an efficient transition toward the final Feasibility Study planned to commence in 2026. The company also provided updates on its community and stakeholder engagement activities, as well as its financial position, with cash reserves of $1.0M as of 31 March 2026.