General Announcement::Fortress Minerals Limited - Results Presentation for 2Q & 1H FY2022

Fortress Minerals Limited

Results Presentation 2Q &1H FY2022

Malaysia - Singapore

IMPORTANT NOTICE:

This presentation does not constitute or form any part of any offer for sale or subscription of, or solicitation of any offer to buy or subscribe for, any securities in Fortress Minerals Limited ("Fortress Minerals" or the "Group") in Singapore or any other jurisdiction nor shall it or any part of it form the basis of, or be relied on in connection with, any investment decision, contract or commitment whatsoever in this or any jurisdiction. This presentation may contain forward-looking statements that involve assumptions, risks and uncertainties. Actual future performance, outcomes and results may differ materially from those expressed in forward-looking statements as a result of a number of risks, uncertainties and assumptions. You are cautioned not to place undue reliance on these forward-looking statements, if any, which are based on the current view of management on future events. The information contained in this presentation has not been independently verified. No representation or warranty expressed or implied is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information or opinions contained in this presentation. Neither Fortress Minerals or any of its affiliates, advisers or representatives shall have any liability whatsoever (in negligence or otherwise) for any loss howsoever arising, whether directly or indirectly, from any use, reliance or distribution of this presentation or its contents or otherwise arising in connection with this presentation. The past performance of Fortress Minerals is not indicative of the future performance of Fortress Minerals. The value of shares in Fortress Minerals ("Shares") and the income derived from them may fall as well as rise. Shares are not obligations of, deposits in, or guaranteed by, Fortress Minerals or any of its affiliates. An investment in Shares is subject to investment risks, including the possible loss of the principal amount invested.

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Fortress Overview

Fortress at a glance

1ST

iron ore company listed on Catalist Board of SGX-STon 27 March 2019

	We employ over	Our Location	Bukit Besi,
We are a	Terengganu
200 employees and contractors		(Mining site 1)
producer and exporter		Mengapur
of marketable
	Sri Jaya, Pahang
and high-grade		Petaling Jaya	(Mining site 2)
iron ore.
	HQ office	Singapore
			Marketing office

Fortress operation and product

Exploration and evaluation

Infrastructure and development

Processing and production	Marketing and commercial

We produce marketable and high-grade

magnetite concentrate,

key ingredient in steelmaking

Construction Transportation

Iron Ore Coke

Electronic appliance

Blast furnace

Exploration: Unlocks resources

Experienced in-house team in resource prospecting, exploration and mining.

Considerable exploration upside potential within our mines' covered tenements' areas of:

• Bukit Besi：526.2 hectare
• Recent acquisition of Fortress Mengapur：
  951.68 hectare

Maximum value from resources

We evaluate, plan and invest in infrastructure through disciplined capital investment.

Latent capacity and cost effective

Steady-state processing capability

Favourable geological conditions and cost advantage

Access to good public infrastructure

Manage market risk: Maximise value

Close proximity to steel mills customers in Malaysia

Our high-grade magnetite concentrate

• Reduces greenhouse gas emissions
• Raises blast furnace productivity

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US$26.6

Corporate achievements

FY2018

FY2017

FY2020

FY2021

ACQUISITION OF FORTRESS MENGAPUR

FY2016

AWARDED BUKIT BESI

MINING RIGHT

• 13 years long-life mining rights expiring in the year 2033
• Two mining leases covered area of 526.2 ha

COMPLETION OF JORC DRILLING CAMPAIGN

• Completed JORC drilling campaign on East, Valley & West Deposits
• Construction of major processing plants

COMMERCIAL PRODUCTION LAUNCH

• Commercial production of high grade iron ore concentrate in April 2018
• Indicated and inferred Mineral Resource of 5.41 Mt in the East, Valley and West Deposits

FIRST IRON ORE COMPANY LISTED ON SGX-ST

• S$15.0 million in gross proceeds were raised

DIVIDEND PAY-OUT EXCEED TARGET

• S$ 2.6 million OR 29.3% Dividends Distributed
• • 15% Targeted distribution

• Gross consideration of US$ 30.0 million plus 1.25% Gross Revenue Royalty
• Comprises 4 mining leases covering tenements areas of 951.68 ha.
• Group's Inferred Mineral Resource increased to 16.22 million tonnes grading 37.86% Fe

RECORD UNDERLYING EARNING AND DIVIDEND

• Record underlying EBITDA of

million

• Interim dividend FY2021 of S$5.0 million, a 20.6% dividend payout ratio
  >20% Targeted distribution

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