• Process waste handling optimization study completed with significant savings
• Updated PFS released enhancing project economics
• Expression of Interest received from KfW IPEX for strategic debt funding
• Non-magnetic iron byproduct test work continues
• Cash reserves at $0.5M at quarter end

Hawsons Iron Ltd. has completed a waste handling optimization study, which resulted in significant operating cost savings of $AU 7.42 per dry metric tonne, capital cost savings of approximately $AU 26M, and a 37% increase in overall Project Pre-tax NPV8. An updated Pre-Feasibility Study (PFS) was released, enhancing project economics with a 2.3Bt Ore Reserves Estimate, a production target of 257 million tonnes of magnetite concentrate over 26 years, and a pre-tax NPV8 of $AU 1.87B. The company received an Expression of Interest from KfW IPEX for strategic debt funding. Work on the non-magnetic iron byproduct study continued, with plans for larger-scale test work in the September quarter. Community and stakeholder engagement activities were also undertaken. Cash reserves at 30 June 2026 were $0.5M, with operating cash outflows of $0.38M and investing cash outflows of $0.25M for the quarter. The company announced a share purchase plan to raise up to $1.5M on 31 July 2026.

Pre-tax NPV8 of $AU 1.87B, 26 year mine life, production target of 257Mt

The company expects increased administration and corporate cash expenditure for the first quarter of 2027 due to annual ASX listing fees and audit fees. Expenditure on the Hawsons Iron project is expected to remain similar for the next 2 quarters.