- IperionX reported a strong financial position with **US$79.2 million in cash** as of **September 30, 2025**.  **[1898601_0001140361-25-039862_ef20057976_ex99-1.htm:1]** **[1898601_0001140361-25-039862_ef20057976_ex99-1.htm:5]**  The company also secured **US$46 million** (A$70 million) from a private placement in July 2025, bringing pro-forma cash to approximately **US$100 million**.  **[1898601_0001140361-25-039862_ef20057976_ex99-1.htm:1]** **[1898601_0001140361-25-039862_ef20057976_ex99-1.htm:5]** 
- The company has increased its nameplate titanium powder production capacity by **60% from 125 tpa to 200 tpa** without additional capital spend.  **[1898601_0001140361-25-039862_ef20057976_ex99-1.htm:1]**  A major expansion is underway to scale titanium capacity to **1,400 tpa** by **mid-2027**, positioning IperionX to be America's largest and lowest-cost titanium powder producer.  **[1898601_0001140361-25-039862_ef20057976_ex99-1.htm:0]** **[1898601_0001140361-25-039862_ef20057976_ex99-1.htm:3]** 
- The **US$75 million** expansion is majority funded by **US$42.5 million** obligated from a **US$47.1 million** U.S. Department of War (DoW) award.  **[1898601_0001140361-25-039862_ef20057976_ex99-1.htm:0]** **[1898601_0001140361-25-039862_ef20057976_ex99-1.htm:3]** **[1898601_0001140361-25-039862_ef20057976_ex99-1.htm:5]**  An additional **US$5 million** from the DoW has been obligated to expedite the Titan Critical Minerals Project to 'shovel-ready' status by **Q2 2026**.  **[1898601_0001140361-25-039862_ef20057976_ex99-1.htm:5]** 
- IperionX projects a **positive EBITDA inflection point by year-end 2026**  **[1898601_0001140361-25-039862_ef20057976_ex99-1.htm:0]** **[1898601_0001140361-25-039862_ef20057976_ex99-1.htm:1]** , with operating costs for titanium powder projected to be **US$29 per kg** at full utilization of the 1,400 tpa capacity.  **[1898601_0001140361-25-039862_ef20057976_ex99-1.htm:3]**

IperionX Reports Strong Financial Position and Significant Production Expansion with U.S. Government Funding

- IperionX's Titanium Manufacturing Campus has all major equipment online, with titanium powder production capacity increased by **60%**, and a positive EBITDA inflection point projected by **year-end 2026**.  **[1898601_5c2acfd8d8dd4f5e8ce6c4b6d9fc3957_0]** 
- The company is scaling titanium capacity to **1,400 tpa** for commissioning by **mid-2027**, with **US$42.5 million** of a **US$47.1 million** U.S. Department of War award already obligated to fund the **~US$75 million** expansion.  **[1898601_5c2acfd8d8dd4f5e8ce6c4b6d9fc3957_0]** **[1898601_5c2acfd8d8dd4f5e8ce6c4b6d9fc3957_1]** 
- As of **September 30, 2025**, IperionX reported **US$79.2 million in cash**, with a recent private placement raising **US$46 million** for accelerated capacity scale-up and R&D, bringing pro-forma cash to approximately **US$100 million**.  **[1898601_5c2acfd8d8dd4f5e8ce6c4b6d9fc3957_1]**

IperionX provides September 2025 Quarterly Report update

- IperionX transitioned to commercial titanium production in FY25, commissioning its Virginia operations and increasing nameplate production capacity to **~200 tpa**.  **[1898601_0001140361-25-036655_ef20056450_ex99-1.htm:1]** 
- The company secured substantial U.S. Government funding, including up to **US$47.1 million** under the DoW IBAS program and a **US$99 million** task-order ceiling via an SBIR Phase III contract, with **US$42.5 million** obligated by September 26, 2025, for accelerated scale-up.  **[1898601_0001140361-25-036655_ef20056450_ex99-1.htm:1]** **[1898601_0001140361-25-036655_ef20056450_ex99-1.htm:4]** **[1898601_0001140361-25-036655_ef20056450_ex99-1.htm:8]** **[1898601_0001140361-25-036655_ef20056450_ex99-1.htm:31]** 
- IperionX plans to expand titanium production capacity to **~1,400 tpa by mid-2027**, targeting unit costs of **~US$29/kg** at full scale, and aims for **+10,000 metric tons per annum by 2030**.  **[1898601_0001140361-25-036655_ef20056450_ex99-1.htm:1]** **[1898601_0001140361-25-036655_ef20056450_ex99-1.htm:8]** 
- At June 30, 2025, IperionX reported **US$54.8 million** in cash reserves and **US$92.4 million** in net assets, following equity raises including **US$66 million** in December 2024 and approximately **US$45.7 million** in July 2025.  **[1898601_0001140361-25-036655_ef20056450_ex99-1.htm:28]** **[1898601_0001140361-25-036655_ef20056450_ex99-1.htm:31]** **[1898601_0001140361-25-036655_ef20056450_ex99-1.htm:59]** 
- The company is advancing its Titan Critical Minerals Project, which is the largest JORC-compliant mineral resource of titanium, rare earth, and zircon minerals sands in the U.S., with a Definitive Feasibility Study expected to be complete in Q2 2026.  **[1898601_0001140361-25-036655_ef20056450_ex99-1.htm:1]** **[1898601_0001140361-25-036655_ef20056450_ex99-1.htm:4]** **[1898601_0001140361-25-036655_ef20056450_ex99-1.htm:8]** **[1898601_0001140361-25-036655_ef20056450_ex99-1.htm:28]**

IperionX Transitions to Commercial Titanium Production with Significant U.S. Government Support

- IperionX Limited received an additional **US$25 million** in funding from the U.S. Department of War (DoW) through its Industrial Base Analysis and Sustainment (IBAS) program on **September 26, 2025**.  **[1898601_0001140361-25-036219_ef20056109_ex99-1.htm:0]** 
- This new obligation is part of a previously announced **US$47.1 million** award, bringing the total obligations to **US$42.5 million**, with an additional **US$4.6 million** expected over the contract term.  **[1898601_0001140361-25-036219_ef20056109_ex99-1.htm:0]** 
- The funds will be used to scale up titanium production to **1,400 metric tons per year (tpa)** at IperionX’s Titanium Manufacturing Campus in Virginia, aiming to strengthen the U.S. defense industrial base by creating a resilient, domestic titanium supply chain.  **[1898601_0001140361-25-036219_ef20056109_ex99-1.htm:0]**

IperionX Receives Additional U.S. Government Funding for Titanium Production Scale-Up

- IperionX Limited increased its nameplate titanium powder capacity by **60% to 200 metric tons per year (tpa)** due to operational and technology improvements, with projected unit costs falling to **~US$55/kg** at full utilization.  **[1898601_0001140361-25-033566_ef20055002_ex99-1.htm:0]** **[1898601_0001140361-25-033566_ef20055002_ex99-1.htm:1]** 
- The company commenced an accelerated **7x expansion** in titanium production capacity to **1,400 tpa**, aiming to be the largest volume and lowest-cost American titanium powder producer with a target unit cost of **~US$29/kg** at full utilization.  **[1898601_0001140361-25-033566_ef20055002_ex99-1.htm:0]** **[1898601_0001140361-25-033566_ef20055002_ex99-1.htm:3]** 
- This expansion, with a total capital cost of **~US$75 million**, is primarily funded by a **US$47.1 million** U.S. Department of Defense award, **$101 million** in existing cash, and prospective DoD SBIR Phase III task orders of **$99 million**.  **[1898601_0001140361-25-033566_ef20055002_ex99-1.htm:0]** **[1898601_0001140361-25-033566_ef20055002_ex99-1.htm:1]** 
- IperionX expects titanium manufacturing sales to scale progressively, reaching a **positive EBITDA inflection point by year-end 2026**.  **[1898601_0001140361-25-033566_ef20055002_ex99-1.htm:0]** **[1898601_0001140361-25-033566_ef20055002_ex99-1.htm:1]** 
- The company aims for global leadership in advanced manufacturing of high-performance titanium components, targeting **+10,000 tpa by 2030**.  **[1898601_0001140361-25-033566_ef20055002_ex99-1.htm:0]** **[1898601_0001140361-25-033566_ef20055002_ex99-1.htm:3]**

IPERIONX (IPX)