Our focus in 2024 will be on:

• Launching our Commercial Operations: The commissioning of our large-scale, industrial furnace in Virginia is an important step to demonstrate our leading technologies at commercial scale. We expect to accomplish this important milestone in the first half of 2024.
• Successfully Commence Production at the 1092 Building: This advanced titanium manufacturing facility is expected to be commissioned in the first half of 2024 and will showcase how we can use our innovative titanium powders to manufacture a wide range of low-cost and high-performance titanium products with powder metallurgy, HSPT forging and 3D printing.
• Expanding Customer and Government Partnerships: We will continue to build upon our existing partnerships and forge new ones, showcasing our innovative titanium solutions. We aim to continue our success with working closely with the U.S Government to deliver a low-cost, sustainable, U.S.- titanium industry.
• Advancing the Titan Project: Our efforts will focus on developing strategic partnerships to advance our Titan Critical Minerals project, reinforcing our commitment to a sustainable and integrated U.S. titanium supply chain from minerals to metal products.

I would like to thank the IperionX team for their relentless efforts and remarkable achievements in 2023. It is their exceptional teamwork and dedication that will drive our success in 2024. I also want to express our appreciation to all our stakeholders, including our long-term shareholders, our customers, suppliers and government associates. Your unwavering support and trust in IperionX have been instrumental in our performance in 2023 and we are committed to exceeding your expectations in 2024.

I wish everyone a Happy New Year and a very successful 2024.

Sincerely,

Anastasios Arima
CEO and Managing Director
IperionX Limited

Competent Persons Statement

The information in this document that relates to Exploration Results, Mineral Resources, Production Targets, Process Design, Mine Design, Cost Estimates, and Financial Analysis is extracted from IperionX’s ASX Announcement dated June 30, 2022 (“Original ASX Announcement”) which is available to view at IperionX’s website at www.iperionx.com.

The Company confirms that a) it is not aware of any new information or data that materially affects the information included in the Original ASX Announcement; b) all material assumptions and technical parameters underpinning the Production Target, and related forecast financial information derived from the Production Target included in the Original ASX Announcement continue to apply and have not materially changed; and c) the form and context in which the relevant Competent Persons’ findings are presented in this report have not been materially changed from the Original ASX Announcement.

Forward Looking Statements

Information included in this release constitutes forward-looking statements. Often, but not always, forward looking statements can generally be identified by the use of forward-looking words such as “may”, “will”, “expect”, “intend”, “plan”, “estimate”, “anticipate”, “continue”, and “guidance”, or other similar words and may include, without limitation, statements regarding plans, strategies and objectives of management, anticipated production or construction commencement dates and expected costs or production outputs.

Forward looking statements inherently involve known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, performance, and achievements to differ materially from any future results, performance, or achievements. Relevant factors may include, but are not limited to, changes in commodity prices, foreign exchange fluctuations and general economic conditions, increased costs and demand for production inputs, the speculative nature of exploration and project development, including the risks of obtaining necessary licenses and permits and diminishing quantities or grades of reserves, the Company’s ability to comply with the relevant contractual terms to access the technologies, commercially scale its closed-loop titanium production processes, or protect its intellectual property rights, political and social risks, changes to the regulatory framework within which the Company operates or may in the future operate, environmental conditions including extreme weather conditions, recruitment and retention of personnel, industrial relations issues and litigation.

Forward looking statements are based on the Company and its management’s good faith assumptions relating to the financial, market, regulatory and other relevant environments that will exist and affect the Company’s business and operations in the future. The Company does not give any assurance that the assumptions on which forward looking statements are based will prove to be correct, or that the Company’s business or operations will not be affected in any material manner by these or other factors not foreseen or foreseeable by the Company or management or beyond the Company’s control.

Although the Company attempts and has attempted to identify factors that would cause actual actions, events or results to differ materially from those disclosed in forward looking statements, there may be other factors that could cause actual results, performance, achievements, or events not to be as anticipated, estimated or intended, and many events are beyond the reasonable control of the Company. Accordingly, readers are cautioned not to place undue reliance on forward looking statements. Forward looking statements in these materials speak only at the date of issue. Subject to any continuing obligations under applicable law or any relevant stock exchange listing rules, in providing this information the Company does not undertake any obligation to publicly update or revise any of the forward-looking statements or to advise of any change in events, conditions or circumstances on which any such statement is based.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240116767247/en/

Anastasios (Taso) Arima, Founder and CEO
Toby Symonds, President
Dominic Allen, Chief Commercial Officer

Investors: investorrelations@iperionx.com
Media: media@iperionx.com
+1 980 237 8900
www.iperionx.com