The board of directors of Fortress Minerals Limited announced that its subsidiary, Fortress Resources Pte. Ltd. had on 1st September 2020, entered into a new one-year offtake agreement with a third-party domestic steel mill in Malaysia ("DSM"). Pursuant to the Agreement, FRPL has agreed to deliver to DSM approximately 400,000 wet metric tonnes to DSM for the period commencing 1 September 2020 to 31 August 2021 (the "Period") (the "Deliverables"). The Deliverables is subject to a variance of an additional twenty percent or a reduction of ten percent at the option of FRPL. The selling price of the Deliverables will be based on a formula guided by, amongst others, the average of the available daily price of Platts for 65% Fe CFR North China, adjusted subject to the Fe content of each shipment of the Deliverables.