Great update on Titan.TITAN CRITICAL MINERALS PROJECTStrategic &...

Great update on Titan.

TITAN CRITICAL MINERALS PROJECTStrategic & offtake partners - multiple companies in advanced due diligenceIperionX continues to receive significant interest in the Titan Project’s titanium, rare earth and zircon criticalminerals, particularly in light of Sierra Rutile’s (ASX: SRX) suspension of operations and potential sale to anentity with noted connections to Russian supply chains2.A major Japanese conglomerate continues to undertake metallurgical test work to advance potential salesofftake and development financing, with a range of other commercial opportunities with Japanese companiesfor potential offtake/investment at the Titan Project also in progress.IperionX has completed key long lead assessments for the Titan Project PFS and / or Feasibility Study, includingmetallurgical test work and permits. Titan Project technical studies (PFS and / or Feasibility Study) are anticipated to be advanced and completed following the culmination of the below activities, which mayconclude in late 2024:• Completion of Green RutileTM pilot process design studies, for full integration into the final Titan ProjectPFS and / or Feasibility Study• Potential U.S. Government funding opportunities, including a recently submitted application to co-fundthe Titan Project PFS and / or Feasibility Study, and co-fund the scale-up of IperionX’s mineralenrichment technologies and the Virginia Titanium Manufacturing Campus• Potential funding and product offtake options from strategic investors that are moving towardsadvanced stages of negotiationsIperionX’s patented low-carbon “Green RutileTM” mineral enrichment technology advanced during the quarterand has been successfully proven at a bench scale, with pilot scale production design now underway forcompletion in 2024.