• Fortescue subsidiary FMG offers to acquire all Red Hawk shares
• Base offer price of $1.05 per share, increased to $1.20 if FMG reaches 75% ownership
• Independent expert deems offer fair and reasonable to Red Hawk shareholders

On 28 January 2025, Red Hawk Mining Limited (ASX: RHK) announced that it had received a takeover offer from FMG Pilbara Pty Ltd, a wholly-owned subsidiary of Fortescue Ltd (ASX: FMG). FMG is offering to acquire all of the issued shares in Red Hawk for a cash consideration of $1.05 per Red Hawk share (the Base Offer Price). The offer price will be increased to $1.20 per Red Hawk share (the Increased Offer Price) if FMG obtains a relevant interest in 75% or more of all Red Hawk shares by 7:00pm AEDT on or before 4 February 2025 (the Increased Offer Condition). FMG currently holds a 19.99% relevant interest in Red Hawk shares via call option deeds with substantial shareholders Todd and OCJ. To ensure transparency, Red Hawk has established an Independent Board Committee to evaluate and respond to the offer.The Independent Expert, BDO Corporate Finance Australia Pty Ltd, has determined that the offer is fair and reasonable to Red Hawk shareholders. Based on this assessment and the information currently available, the Directors of Red Hawk unanimously recommend that shareholders accept the offer at both the Base Offer Price and, if relevant, the Increased Offer Price, in the absence of a superior proposal.

The offer price will be increased to $1.20 per Red Hawk share if FMG obtains a relevant interest in 75% or more of all Red Hawk shares by 7:00pm AEDT on or before 4 February 2025.