FENIX RESOURCES LTD — Capital/Financing Update 2023

Jul 23, 2023

ASX ANNOUNCEMENT

NOTICE UNDER SECTION 708A(5)(E) OF THE CORPORATIONS ACT 2001

Fenix Resources Limited ( ASX: FEX ) ( Company ) has today issued a total of 60,000,000 fully paid ordinary shares ( Shares ) in the capital of the Company pursuant to the Sale and Purchase Agreement with Mount Gibson Iron Ltd as announced to ASX on 29 June 2023.

The Corporations Act 2001 (Cth) ( Act ) restricts the on-sale of securities issued without disclosure, unless the sale is exempt under section 708 or 708A of the Act. By giving this notice, a sale of the Shares noted above will fall within the exemption in section 708A(5) of the Act.

The Company hereby notifies ASX under section 708A(5)(e) of the Act that:

• (a) the Company issued the Shares without disclosure to investors under Part 6D.2 of the Act;

• (b) this notice is being given under paragraph (5)(e) of section 708A of the Act;

• (c) as at the date of this notice, the Company has complied with the provisions of Chapter 2M of the Act as they apply to the Company, and sections 674 and 674A of the Act; and

• (d) as at the date of this notice, there is no information:

  • a. that has been excluded from a continuous disclosure notice in accordance with the ASX Listing Rules; and

  • b. that investors and their professional advisers would reasonably require for the purpose of making an informed assessment of:

  • i. the assets and liabilities, financial position and performance, profits and losses and prospects of the Company; or

  • ii. the rights and liabilities attaching to the relevant Shares.

Authorised by the Board of Fenix Resources Limited.

For further information, contact:

John Welborn Dannika Warburton Chairman Investor & Media Relations Fenix Resources Limited +61 401 094 261 john@fenixresources.com.au dannika@investability.com.au

Follow Fenix Resources:

Twitter: twitter.com/Fenix_Resources LinkedIn: www.linkedin.com/company/fenix-resources Facebook: www.facebook.com/fenixresources1 Website: fenixresources.com.au

Join Fenix’ mailing list: https://fenixresources.com.au/subscribe/

P +61 08 9226 2011 E info@fenixresources.com.au ABN 68 125 323 622

FENIX RESOURCES LTD

ASX:FEX fenixresources.com.au

1

==> picture [133 x 51] intentionally omitted <==

==> picture [382 x 349] intentionally omitted <==

Fenix Resources (ASX: FEX) is a high grade, high margin iron ore producer with assets in the MidWest mining region of Western Australia.

The Company’s 100% owned, flagship Iron Ridge Iron Ore Mine is a premium direct shipping ore deposit located approximately 360km north east of Geraldton that hosts some of the highest grade iron ore in Western Australia.

Production commenced at Iron Ridge in December 2020 and is currently operating at the production run rate of 1.3 million tonnes per annum. Fenix has produced and exported more than 3 million tonnes of premium iron ore, generating excellent cash flow and profitability since commencement of production.

Fenix operates a unique fully integrated mining and logistics business. High quality iron ore products are transported by road to Geraldton using the Company’s 100% owned Fenix-Newhaul haulage and logistics business. The Company operates its own loading and storage facilities at the Geraldton Port with storage capacity of up to 400,000 tonnes and loading capacity of more than 5Mt per annum.

The acquisition of Mount Gibson Iron Limited’s Mid-West iron ore, port and rail assets in July 2023 significantly expands Fenix’s Mid-West asset base and provides an excellent foundation for future growth. The assets acquired include the Shine Iron Ore Mine currently on care and maintenance located 230km east of Geraldton, two on-wharf bulk material storage sheds at Geraldton Port, two rail sidings at Ruvidini and Perenjori, and remaining mining assets and obligations at Extension Hill Iron Ore Mine.

The Company is led by a proven team with deep mining experience and benefits from strategic alliances and agreements with key stakeholders, including the Wajarri Yamatji people who are the Traditional Custodians of the land on which the Iron Ridge Iron Ore Mine is located.

Fenix is focused on promoting opportunities for local businesses and the community. The Company has generated more than 200 local jobs. Fenix is proud to have a strong indigenous representation in the Company’s workforce and to be in partnership with leading contract service providers including MACA Ltd, Alpha 1 WA Pty Ltd, Champion Bay Electrical Ltd, the Schwarze Brothers Pty Ltd, and other leading local and national service providers.

==> picture [595 x 43] intentionally omitted <==

----- Start of picture text ----- ASX:FEX | fenixresources.com.au----- End of picture text -----