• FMG now holds 78% interest in Red Hawk Mining after major shareholders accepted the offer
• Increased Offer Price of $1.20 per share, a 14% increase from the Base Offer Price of $1.05
• FMG to waive the only remaining condition within 14 days of acquiring 50.1% interest, making the offer unconditional
• Red Hawk Board unanimously recommends shareholders accept the Offer

Red Hawk Mining Limited (ASX: RHK) has provided an update on the off-market takeover offer made by FMG Pilbara Pty Ltd (FMG), a subsidiary of Fortescue Ltd (ASX: FMG), to acquire up to 100% of the fully paid ordinary shares in Red Hawk. Following the acceptance of Red Hawk's second largest shareholder OCJ and the earlier acceptance of TIO (NZ) Limited, FMG now holds a relevant interest of approximately 78.00% in Red Hawk. The Increased Offer Condition has now been met, triggering the Increased Offer Price from FMG of $1.20 per Red Hawk Share, a 14% increase from the Base Offer Price of $1.05. Any shareholder that has already accepted the Offer will automatically receive the Increased Offer Price. FMG has stated it will waive the only condition to the Offer by no later than 17 February 2025, being 14 days after acquiring a Relevant Interest in at least 50.1% of Red Hawk Shares, making the Offer unconditional. Once the condition is waived, Red Hawk shareholders who have accepted the Offer will be paid within 10 business days. FMG has outlined its intention to delist the Company at the conclusion of the Offer. The Red Hawk Board continues to unanimously recommend that Red Hawk shareholders accept the Offer at the Increased Offer Price, in the absence of a superior proposal.

FMG has stated it will waive the only condition to the Offer by no later than 17 February 2025, being 14 days after acquiring a Relevant Interest in at least 50.1% of Red Hawk Shares.