Strong PFS Update Delivers Increase in Project NPV

• TAKRAF study confirms significant cost savings and improved sustainability
• Updated PFS shows a 37% increase in NPV to AU $1.87B
• Project remains based on 2,300Mt Probable Ore Reserve

Hawsons Iron Ltd announced the results of an optimization study by TAKRAF Group, which confirmed significant cost savings and improved sustainability for the project. The updated Pre-Feasibility Study (PFS) reflects these outcomes, showing a 37% increase in NPV to AU $1.87B. The study demonstrated material savings in operating costs and reduced reliance on diesel through increased electrification. The project remains based on a 2,300Mt Probable Ore Reserve with a 26-year mine life. The updated PFS also shows improvements in financial metrics, including a pre-tax IRR of 11.9% and an approximate payback period of 13 years.

Pre-tax NPV of $AU 1.87B, pre-tax IRR of 11.9%, payback period of 13 years

Hawsons Iron Ltd expects to achieve significant cost savings and improved sustainability through the updated PFS, which will enhance the project's economic viability.