Fenix Resources Limited · ASX:FEX
Fenix Resources — RIU Sydney Resources Round-Up Conference 2026
24 slides from Fenix Resources's conference presentation, May 2026
Slide 1: The New Western Force in Iron Ore
The New Western Force in Iron Ore Delivering 6Mtpa by FY28 | Targeting 10Mtpa by FY31 May 2026 RIU Sydney Resources Round-Up Conference ASX: FEX
Slide 2: Important disclosure
Important disclosure Disclaimer The material in this presentation has been prepared by Fenix Resources Ltd (“Fenix”, “Fenix Resources” or “the Company”) and is general background information on Fenix. This information is given in summary form and does not purport to be complete. Information in this
Slide 3: Fenix by the numbers
Fenix by the numbers Proven Iron Ore Producer with exceptional growth potential 290Mt 6Mtpa A$3.0B Weld Range resource secured. Target for three-year production Pre-tax NPV10 at spot prices. 30-year exclusive mining plan to FY28. Fully funded From A$521M development rights with Baowu. from operation
Slide 4: Iron ore: the defining industrial commodity
Iron ore: the defining industrial commodity. Every major economy in the modern era has been built on it. • The foundation of industrialisation. For 200 years, iron and steel have underwritten every major industrial transition. Britain. The United States. Japan. Korea. China. India next. • The larges
Slide 5: The forces reshaping the market
The forces reshaping the market Demand is rotating. Supply is constrained. Costs are rising. Demand has rotated Supply has tightened Non-property sectors now drive 72%+ of The Iran conflict has removed 3.8% of global Chinese steel demand. Goldman Sachs iron ore output. Simandou guidance has (April 2
Slide 6: Fenix in WA's mid-west
Fenix in WA's mid-west Integrated Infrastructure from Pit-to-Port ASX: FEX | 6
Slide 7: Consistent track record of delivery
Consistent track record of delivery Fenix has delivered on its commitments since 2020 2020 2021 2022 2023 2024 2025 2026 Foundations Production Integration Expansion Scaling Transformation Delivering • A$15M capital • Maiden • 1.3Mtpa • 3Mt milestone • Shine • Three mines • 10Mt raised shipment achi
Slide 8: Three year production plan
Three year production plan Ramping to 6Mtpa by FY28 7 6 Million tonnes 5 4 3 2 1 0 FY25 FY26 FY27 FY28 ✓ 100% from Ore ✓ Generating Reserves or Measured ✓ Funded from Operations strong cashflows & Indicated Resources ASX: FEX | 8
Slide 9: The Weld Range transformation
The Weld Range transformation A Game Changer for Fenix 290Mt Mineral Resource @ 56.8% Fe 30yrs Exclusive Mining Rights 10Mtpa Production Target "Fenix is no longer constrained by mine life and can focus on maximising production volumes and value." Refer ASX announcements "Fenix Secures 290Mt Weld Ra
Slide 10: Weld Range Project's 290Mt resource base enables sustained production at scale
The Weld Range Project's 290Mt resource base enables sustained production at scale, driving down C1 costs and expanding margins. ASX: FEX | 10
Slide 11: Strategic consolidation
Strategic consolidation Transitioning to Integrated Hub Operations Period Operating Mines Location(s) FY26-27 Iron Ridge, Shine, Beebyn-W11 Three separate locations FY27-28 Beebyn Hub (W11 + W10) Consolidated at Beebyn Beyond FY28 Beebyn Hub + Madoonga Hub Two processing hubs ✓ Simplified ✓ Maximise
Slide 12: Fully integrated pit-to-port business model
Fully integrated pit-to-port business model 100% Owned Mining, Logistics and Port Operations MINING Ramping to 6Mtpa High-grade DSO @ 61% Fe LOGISTICS Capacity for 10Mtpa 100% owned fleet & rail PORT ~10Mtpa Capacity 400,000t storage | 3 sheds ASX: FEX | 12
Slide 13: Mining
Mining Mines Ramping to 6Mtpa by FY28 100% High Confidence 290Mt Resource Base 60.1% Fe Average Grade Reserves & M&I Weld Range Project Premium DSO product Resources Refer ASX announcements "Fenix Secures 290Mt Weld Range Iron Ore Project" dated 1 September 2025 and "Fenix 3-Year Production Plan" da
Slide 14: Logistics
Logistics Scalable Capacity to Support 10Mtpa Target New state-of-the-art 10Mtpa Target Capacity 100% Owned Fleet Workshop in Geraldton ASX: FEX | 14
Slide 15: Port
Port Strategic Infrastructure at Geraldton Port On-wharf facilities at Port access secured Capacity to Geraldton to 2054 support growth ASX: FEX | 15
Slide 16: Weld Range scoping study
Weld Range scoping study Pathway to 10Mtpa production 290Mt 10Mtpa 2042 Resource confirmed. production target by 2031. Mine life. ~A$55/t ~A$235M 244km C1 cash costs Average annual EBITDA over Private Haul Road the life of mine. Refer ASX announcement “Weld Range Scoping Study” dated 23 December 202
Slide 17: 2026 targets
2026 targets Focused on Execution and Growth Deliver FY26 Guidance – 4.2Mt to 4.8Mt @ C1 Cost of A$70/t to A$80/t Progress Weld Range 10Mtpa Definitive Feasibility Study Commission Beebyn Hub operations Extend Collaboration with Sinosteel & Baowu Boost Shareholder returns ASX: FEX | 17
Slide 18: Growth beyond FY28
Growth beyond FY28 Pathway to +10Mtpa Production Weld Range Three Year FY26 Feasibility Study Scoping Study FY27 FY28 underway for complete Production Plan FY29+ expansion Technology Private haul road Collaboration enhancements in to reduce logistics with Baowu on mining, logistics, and costs +10Mtp
Slide 19: Fenix community
Fenix community Creating Value for Stakeholders and Communities 400+ Jobs Created Wajarri Yamaji Local Focus within Geraldton and Partnership Traditional Supporting Mid-West Mid-west custodians of our land businesses & communities ASX: FEX | 19
Slide 20: Compelling Investment Opportunity
Compelling Investment Opportunity Integrated Operations | Transformational Asset | Clear Pathway • Large Scale 290Mt resource base supporting decades of production • Low Cost Scale drives down unit costs and expands margins • Long Term 30-year Right to Mine Agreement ensures sustained operations Pr
Slide 21: The macro is right. The asset is set. The value is visible.
The macro is right. The asset is set. The value is visible. A rare alignment of cycle, asset and price. The Macro The Asset The Platform The Value Iron ore continues 290 Million Tonne 100% owned Fenix has multi- to trade above Weld Range Iron integrated supply decade resource consensus Ore Project c
Slide 22: Appendix 1. Weld Range Global Mineral Resource
APPENDIX 1. WELD RANGE GLOBAL MINERAL RESOURCE Weld Range Right to Mine Agreement 2025 Global Mineral Resource (inclusive of Beebyn-W11) – 50% Fe cut-off applied Fe SiO2 Al2O3 LOI P S JORC Classification Tonnes (millions) % % % % % % Measured 142.5 58.10 6.39 2.45 6.94 0.09 0.05 Indicated 89.4. 55.8
Slide 23: Corporate snapshot
Corporate snapshot Share Price Performance FEX A$252m A$86.3m 6.2% ASX Code Market Cap Cash at Bank Owned by Company (at 1 May 2026: $0.33 per share) (as at 31 March 2026) Directors ANALYST COVERAGE ASX: FEX | 23
Slide 24: Contact
CONTACT | ASX: FEX John Welborn Executive Chairman info@fenix.com.au FENIX.COM.AU
Fenix Resources — RIU Sydney Resources Round-Up Conference 2026 on 6ix