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September Quarterly Activities Report FENIX 12 October 2021 Fenix ships 341,000t , generating $ 25m of net operating cashflow Net cash increases by A $ 24m to A $ 93m at 30 September , representing 19.7c / share net cash backing • Highlights Six shipments of iron ore from the Iron Ridge Project in WA sold during the September Quarter , consisting of 197,848 wet metric tonnes ( wmt ) of lump and 143,422 wmt of fines Average price received was US $ 129.23 ( A $ 176 ) per dry metric tonne ( dmt ) FOB , which is equivalent to US $ 163.61 per dmt CFR C1 FOB cash costs for the quarter were A $ 86.77 per wmt shipped and A $ 87.98 per wmt from project inception to date • Net operating cash flow of A $ 25.4m and free cash flow of $ 23.8m for the period • FY21 financial results released , net profit after tax of $ 49.0m reported , and a 5.25 cent per share fully franked dividend declared and paid on 5 October 2021 Statutory approvals received for Iron Ridge Stage 2 pit and waste dump extension Fenix starts delivering into hedge contracts at the rate of 50,000t a month for 12 months and at a fixed price of A $ 230.30 / dmt from October 2021 Fenix will hold a conference call for analysts today at 8am WST ( 11am EST ) . Investors listen to the call live https://webcast.boardroom.media/fenix- resources / 20210713 / NaN6153f5c1fe20e1001afb386f can Fenix Resources Limited ( ASX : FEX ) is pleased to report on a solid quarter for the Company on the back of higher production rates , robust margins and strong free cashflow . Page 1 of 8 Fenix Resources Limited , ABN : 68 125 323 622 Suite 10 , 1202 Hay Street , West Perth , WA 6005 W : fenixresources.com.au , E : fenix@fenixresources.com.au