Fortescue Energy "revenue from external customers":Page 116 of...

Fortescue Energy "revenue from external customers":

Page 116 of the Annual Report

In FY22 Revenue - US$26m
Underlying EBITDA - (US$396m)

In FY23 Revenue - US$107m
Underlying EBITDA - (US$617m)

Deferred revenue - Manufacturing and engineering services

FY22 US$25 million
FY23 US$10 million

Manufacturing and engineering services revenue are recognised on a percentage of completion basis.

Expenses:

Research expenditure comprises of FFI research expenditures.

Research expenditure for 2022 - US$354m
Research expenditure for 2023 - US$553m

Page 40 of the Annual Report highlights....

That the US$199 million increase in research expenses from FY22 to FY23 was predominantly related to Fortescue Energy activities which is now comprised of Fortescue Future Industries, Fortescue Hydrogen Systems and Fortescue WAE. Just as I thought, so it's divided into the three sub-segments.

Cost of sales:Manufacturing and engineering services costs:

FY22 US$20 million
FY23 US$76 million

That summarises where things were at as of the FY23 Annual Report.

So where might we see an increase in revenue by the next Annual Report?

Definitely not from the green energy projects.

Perhaps management fees once Fortescue Capital officially launches?

I would say from WAE's battery segment.

I would say from WAE's Elysia product/s.

But possibly from the partnership Fortescue has formed with Liebherr for the development and supply of green mining haul trucks ie the new business opportunity. Note, the R&D Perth Innovation Centre was completed in FY23 and Fortescue also opened its Colorado Technology Innovation Centre in the USA.

Page 35 of the Annual Report...

"We plan to expand our operations to include two new facilities in the United Kingdom, one in Kidlington and the other in Banbury. The Kidlington facility will focus on prototype development of power systems for multiple green mobility applications. The Banbury facility will focus on manufacturing heavy industry, zero-emission battery modules and fully assembled power systems."

https://cdn.fortescue.com/docs/default-source/announcements-and-reports/2597718.pdf?sfvrsn=edccad94_6 (FY23 Annual Report)

Tony