• Offer of $1.05 per Red Hawk Share, increasing to $1.20 if 75% stake acquired by Feb 4
• 29% premium to 30-day VWAP, 28% premium to last close
• All-cash offer allowing immediate liquidity for shareholders

Fortescue Ltd, through its wholly-owned subsidiary FMG Pilbara Pty Ltd, has made an off-market takeover offer to acquire all of the ordinary shares of Red Hawk Mining Limited (ASX: RHK) for $1.05 per Red Hawk Share. The Offer Price will increase to $1.20 per Red Hawk Share if the Bidder obtains a Relevant Interest in 75% or more of all Red Hawk Shares on or before 7.00pm (AEDT) on 4 February 2025. The Offer Price represents a 29% premium to the 30-day volume weighted average price (VWAP) of Red Hawk Shares up to 24 January 2025, and a 28% premium to the Red Hawk Share price at close the day prior to the Announcement Date. The Bidder is offering 100% cash for the Red Hawk Shares, enabling Red Hawk Shareholders to realise a certain and immediate cash value for their Red Hawk Shares. The Red Hawk Board unanimously supports the Offer and unanimously recommends that Red Hawk Shareholders accept the Offer at both the Offer Price and, if relevant, the Increased Offer Price in the absence of a Superior Proposal, and subject to the Independent Expert continuing to conclude that the Offer is fair and reasonable, or not fair but reasonable to Red Hawk Shareholders.