Ann: Green Energy and Green Metals Projects Approved, page-18

Phoenix Hydrogen Hub

Marketing strategy - Fortescue are targeting execution of offtake agreements and merchant market sales. As I mentioned in my previous post, the Project will initially be 100 per cent funded by Fortescue, with an intention to raise project debt and equity funding. The Phoenix Hydrogen Hub marketing strategy contemplates a portfolio approach of securing long term offtake contracts and merchant sales.

Capital expenditure is estimated at US$80 million in FY24.

Total Fortescue Energy FY24 guidance

US$500m up US$100m from previous guidance. As a result of the Phoenix Hydrogen Hub and the Gladstone PEM50 Projects.

The Gladstone PEM50 Project

Fortescue is just getting started on the world stage.

The Gladstone PEM50 positions Fortescue as one of only a handful of global manufacturers of industrial scale hydrogen systems.

First mover advantage, places Fortescue in the best possible position to realise the green energy transition, producing at scale.

With approximately US$40 million of capital expenditure estimated in FY24.

Green technology

This is what I've been most excited about short term...

The company highlighted that many suppliers are coming to Fortescue saying that they need the technology that they are developing.

WAE will develop into a standalone business and provide the world with advanced systems/batteries that they need.

Christmas Creek Green Iron Trial Commercial Plant

Fortescue has approved an investment of up US$50 million to construct the Green Iron Trial Commercial Plant at Christmas Creek.

Fortescue Metals

FY24 capital expenditure Is unchanged at US$2.8 - US$3.2 billion.

Fortescue Capital Asset Management

What was interesting was that Fortescue Capital hardly got any airtime. We'll definitely hear more on this front, but I believe it's partly because there's no need yet for bringing in equity partners. These first three projects will be 100% owned by fortescue. Having said that, I can't wait to hear what they have planned for this Asset Management Fund.

Tony