Fortescue Metals : Extension of Share Buy-back Programme

10 October 2020

The Companies Officer

Australian Securities Exchange Ltd

Level 40, Central Park

152-158 St Georges Terrace

Perth WA 6000

Dear Madam or Sir

FURTHER EXTENSION OF FORTESCUE SHARE BUY-BACK

Fortescue Metals Group Ltd (Fortescue or the Company) (ASX: FMG) today announced a further extension of its on-marketbuy-back as part of its ongoing capital management programme.

The buy-back period will now continue for an unlimited duration, and the maximum number of shares that may be bought-back will be determined periodically by the Company's '10/12 limit' as defined in section 257B(4) of the Corporations Act 2001 (Cth) (Corporations Act). The 10/12 limit provides that a company cannot buy back more than 10% of its voting shares within the span of any twelve (12) month period.

The buy-back programme has been extended as it remains an important part of the successful execution of Fortescue's capital management strategy.

The extension of the share buy-back does not require shareholder approval as it will be within the '10/12 limit' permitted by the Corporations Act. All ordinary shares purchased pursuant to the share buy-back will be cancelled.

The number of shares purchased and timing of any buy-back will depend on Fortescue's share price and market conditions at the time. Fortescue reserves the right to vary, suspend or terminate the buy-back at any time.

The Appendix 3D attached to this announcement sets out the particulars of the extension.

Yours sincerely

Fortescue Metals Group Ltd

Authorised by

Cameron Wilson

Company Secretary

Media contact:

Michael Vaughan, Fivemark Partners

1. [e-mail]

1. [phone]

Investor Relations contact:

Andrew Driscoll, GM Investor Relations

1. [e-mail]

1. [phone]

Fortescue Metals Group Ltd ABN 57 002 594 872	Level 2, 87 Adelaide Terrace, East Perth, Western Australia 6004
PO Box 6915, East Perth, Western Australia 6004	P [phone] [e-mail]
	Page 1 of 1