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Form 20-F ☒
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Form 40-F ☐
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Exhibit
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Description
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Press Release
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IPERIONX LIMITED
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(registrant)
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Date: July 1, 2026
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By:
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/s/ Marcela Castro | |
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Name: Marcela Castro
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Title: Chief Financial Officer
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PRESS RELEASE | NASDAQ: IPX | ASX: IPX
July 1, 2026
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IperionX awarded up to US$6.6 million by the Office of the Secretary of War – Submarine Workforce and Industrial Base program (OSW‑SWIB)
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The award forms part of a larger, multi-organization program to scale production of high-performance titanium alloy products, including ballistic-grade titanium plate,
for land and maritime defense platforms
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Funding will support expanded manufacturing capability for large-format military titanium components at IperionX’s Titanium Manufacturing Campus in Virginia,
strengthening U.S. capacity for mission-critical titanium products and critical-material supply chains
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IperionX will collaborate with the George H.W. Bush Combat Development Complex (BCDC) and the U.S. Army Combat Capabilities Development Command (DEVCOM) Army Research Laboratory (ARL) to accelerate product
scale-up, validation, and transition pathways for defense and strategic industrial applications
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Alongside the OSW-SWIB award, IperionX has received an additional purchase order from the U.S. Army Ground Vehicle Systems Center to manufacture a range of titanium
fasteners for the JLTV in support of U.S. Army and Marine Corps operational requirements
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Defense platforms require titanium plate, sheet and fabricated components where weight, durability, corrosion resistance and strength matter most.
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In land defense systems, titanium plate supports armor precursor plate, hatches, covers, brackets and structural components where lower mass can improve mobility, payload, fuel efficiency and survivability.
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In maritime defense platforms, titanium’s strength, durability and corrosion resistance can reduce maintenance, extend service life and improve readiness.
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Conventional wrought titanium plate typically requires sponge production, vacuum melting and remelting, ingot or slab casting, breakdown forging, hot rolling, repeated annealing and final surface
conditioning.
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Titanium’s high reactivity requires tight process control, multiple high-temperature steps and large specialized equipment, driving high capital intensity, long lead times and significant energy use.
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As plate thickness falls, manufacturing costs compound. Repeated rolling and annealing reduce throughput, while alpha-case removal through grinding, pickling or chemical milling lowers product yield.
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HAMR™ produces low-cost titanium powder from titanium minerals or recycled titanium, and HSPT™ + THRM™ deliver wrought-like titanium properties without the full conventional melt-remelt-forge pathway
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Together, these technologies support a powder-to-plate manufacturing platform with fewer major process steps, lower capital intensity, lower energy consumption, improved material utilization and stronger
domestic supply-chain resilience
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Forward Looking Statements
Information included in this release constitutes forward-looking statements. Often, but not always, forward looking statements can generally be identified by the
use of forward-looking words such as “may”, “will”, “expect”, “intend”, “plan”, “estimate”, “anticipate”, “continue”, and “guidance”, or other similar words and may include, without limitation, statements regarding plans, strategies and
objectives of management, anticipated production or construction commencement dates and expected costs or production outputs.
Forward looking statements inherently involve known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, performance,
and achievements to differ materially from any future results, performance, or achievements. Relevant factors may include, but are not limited to, changes in commodity prices, foreign exchange fluctuations and general economic conditions,
increased costs and demand for production inputs, the speculative nature of exploration and project development, including the risks of obtaining necessary licenses and permits and diminishing quantities or grades of reserves, the Company’s
ability to comply with the relevant contractual terms to access the technologies, commercially scale its closed-loop titanium production processes, or protect its intellectual property rights, political and social risks, changes to the
regulatory framework within which the Company operates or may in the future operate, environmental conditions including extreme weather conditions, recruitment and retention of personnel, industrial relations issues and litigation.
Forward looking statements are based on the Company and its management’s good faith assumptions relating to the financial, market, regulatory and other relevant
environments that will exist and affect the Company’s business and operations in the future. The Company does not give any assurance that the assumptions on which forward looking statements are based will prove to be correct, or that the
Company’s business or operations will not be affected in any material manner by these or other factors not foreseen or foreseeable by the Company or management or beyond the Company’s control.
Although the Company attempts and has attempted to identify factors that would cause actual actions, events or results to differ materially from those disclosed in forward looking
statements, there may be other factors that could cause actual results, performance, achievements, or events not to be as anticipated, estimated or intended, and many events are beyond the reasonable control of the Company. Accordingly,
readers are cautioned not to place undue reliance on forward looking statements. Forward looking statements in these materials speak only at the date of issue. Subject to any continuing obligations under applicable law or any relevant stock
exchange listing rules, in providing this information the Company does not undertake any obligation to publicly update or revise any of the forward-looking statements or to advise of any change in events, conditions or circumstances on which
any such statement is based.
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