Slide 1: 2026 Interim Results
HKEX STOCK CODE: 1029 2026 Interim Results 28 August 2026 CONFERENCE CALL 13h30 HKT NUMBER: +852 2112 1888 PASSCODE: 1058028#
Slide 2: Disclaimer
Disclaimer Some statements contained in this presentation or in documents referred to in it are or may be forward-looking statements. Statements reflect the Company’s current views with respect to future events and are subject to risks, assumptions, uncertainties and other factors beyond the Company
Slide 3: Table of Contents
Table of Contents 1. 1H 2026 Highlights ……….….…... 4 2. Financials ..………………………… 6 3. Corporate ….....……….…………… 14 3
Slide 4: 1H 2026 Highlights
4H 2026 Highlights : gee ee ae ers
Slide 5: 1H 2026 Highlights
1H 2026 Highlights Financials Revenue Cash cost per tonne Group EBITDA $153.4 million In USD: $83.4 7.8% $11.6 million (1H 2025: $122.8 million) In RUB: RUB6,372 4.9% (1H 2025: $6.7 million) 24.9% 73.2% Underlying profit Cash balance Non-cash US$35.3 million US$0.7 million Impairment (1H 2025: loss
Slide 6: Financials
Financials 6
Slide 7: Financials – 1H 2026 Financial Results Overview
Financials – 1H 2026 Financial Results Overview For the six months ended 30 June Units 2026 2025 Variance Increase due to improved quality of ore Iron Ore Production wmt 1,664,009 1,422,870 16.9% from Sutara and the technological upgrades implemented at K&S Iron Ore Sales wmt 1,660,300 1,419,367 17.
Slide 8: Financials – Income Statement
Financials – Income Statement Increase due to 17% increase in sales volume and 7.8% increase US$’000 1H 2026 1H 2025 Change in Platts 65% index price Revenue 153,357 122,798 24.9% Increase in line with sales volume Site operating expenses and service costs Driven by stringent cost controls before de
Slide 9: Financials – Statement of Financial Position
Financials – Statement of Financial Position US$’m 30 Jun 2026 31 Dec 2025 Change Assets Fixed and intangible assets 152.2 149.0 2.5% Sutara development / mining equipment Inventories 55.6 54.2 1.5% Receivables and other assets 38.7 31.5 23.2% Rights issue / voluntary Cash and deposits 35.3 41.6 (15
Slide 10: Financials – Cash Flow
Financials – Cash Flow For the 6 months ended US$’000 30 June 2026 2025 Operating profit before working capital movements 9,309 7,188 Working capital movements – Net movement in inventories (805) (6,098) – Net movement in receivables (6,867) 9,070 – Net movement in payables (3,704) (10,074) Decline
Slide 11: K&S Cash Cost Analysis
K&S Cash Cost Analysis 30 June 30 June Increase driven by strong Cash cost per tonne (US$/wmt) Change 2026 2025 Rouble and the increase in utilization of stockpile with a Mining 31.6 23.9 7.7 higher cost base, compensated 12.8 (0.4) by own mining fleet utilization Processing and drying 13.2 Producti
Slide 12: Financial Resources & Liquidity
Financial Resources & Liquidity Cash and loan balances Details of the MIC loan (as of 30 June 2026) Loan profile: As at 30 June 2026 (US$) ▪ US$160m tranche: SOFR 90 + 6.2% per annum Cash and deposits balance $35.3m ▪ US$80m tranche: SOFR 90 + 8.2% per annum MIC loan $0m US$240m had been fully repai
Slide 13: 3. Corporate
3. Corporate 13
Slide 14: Rights Issue – Successfully Completed in February 2026
Rights Issue – Successfully Completed in February 2026 Raising US$41.4 million ▪ On 24 October 2025, the Company proposed to raise up to approximately US$41.4 million by way of a rights issue to issue a maximum of 638,974,294 rights shares at a subscription price of HK$0.51 per right share on the ba
Slide 15: Corporate Information
Corporate Information: BODs with a High Degree of Independence & Diversification As at 30 June 2026 Non-Executive Director Executive Director IRC – No. of shares in issue 1,916,922,882 shares N Levitskii D Cherednichenko Market cap. (as of 30 Jun 2026) HK$795.5m CHAIRMAN CEO (@HK$0.415 per share) (U
Slide 16: 6H, 9 Queen’s Road Central, Central, HK ir@ircgroup.com.hk www.ircgroup.com.hk
1029 6H, 9 Queen’s Road Central, Central, HK +852 2772 0007 ir@ircgroup.com.hk www.ircgroup.com.hk