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September 2021 Quarterly Production Report 28 October 2021 Record first quarter shipments and strong cost management Quarterly summary Total Recordable Injury Frequency Rate ( TRIFR ) of 2.0 at 30 September 2021 , five per cent lower than 2.1 at 30 September 2020. Tragically , Fortescue team member David Armstrong lost his life as a result of an incident at the Solomon Hub on 30 September 2021 ● FMG Fortescue First quarter iron ore shipments of 45.6 million tonnes ( mt ) were three per cent higher than Q1 FY21 and a record for a first quarter Average revenue of US $ 118 / dry metric tonne ( dmt ) represents revenue realisation of 73 per cent of the average Platts 62 % CFR Index and contractual realisation of 77 per cent C1 cost of US $ 15.25 / wet metric tonne ( wmt ) was in line with the previous quarter Net debt of US $ 175 million at 30 September 2021 after payment of the FY21 final dividend of US $ 4.7 billion and capital expenditure of US $ 744 million in the quarter Announced an industry - leading target to achieve net zero Scope 3 emissions by 2040 Established a groundbreaking co - management framework with members of Wintawari Guruma Aboriginal Corporation Fortescue Future Industries announced the development of a green energy and green hydrogen manufacturing industry in Gladstone , Queensland Guidance for FY22 shipments , C1 cost and capital expenditure remains unchanged . Fortescue Chief Executive Officer , Elizabeth Gaines , said " The health and safety of the Fortescue family is our highest priority and we were devastated by the death of our team member , David Armstrong . A fatality is a reminder of why safety is our most important focus and we appreciated the support shown across the mining industry . We are supporting David's family and his team at Solomon at this very difficult time , and we are working with authorities to investigate the incident . " Across our operations , we achieved record first quarter shipments of 45.6 million tonnes and maintained our industry leading C1 cost of US $ 15.25 per wet metric tonne . Our C1 cost was in line with the previous quarter , reflecting our strong focus on cost management to mitigate inflationary pressures . Strong performance across the supply chain , together with the contribution of Eliwana continues to drive record operational performance . " Fortescue's strategy to diversify continues to gain momentum with Fortescue Future Industries ' ( FFI ) recent announcement to develop a renewable energy and green hydrogen manufacturing centre at Gladstone , Queensland as well as agreements with Incitec Pivot and Plug Power . Fortescue Metals Group Ltd ABN 57 002 594 872 PO Box 6915 , East Perth , Western Australia 6004 Level 2 , 87 Adelaide Terrace , East Perth , Western Australia 6004 P +61 8 6218 8888 E fmgl@fmgl.com.au W www.fmgl.com.au Page 1 of 5