<SEC-DOCUMENT>0001140361-26-027050.txt : 20260701
<SEC-HEADER>0001140361-26-027050.hdr.sgml : 20260701
<ACCEPTANCE-DATETIME>20260701060100
ACCESSION NUMBER:		0001140361-26-027050
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20260701
FILED AS OF DATE:		20260701
DATE AS OF CHANGE:		20260701

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			IPERIONX Ltd
		CENTRAL INDEX KEY:			0001898601
		STANDARD INDUSTRIAL CLASSIFICATION:	MISCELLANEOUS METAL ORES [1090]
		ORGANIZATION NAME:           	01 Energy & Transportation
		EIN:				000000000
		STATE OF INCORPORATION:			C3
		FISCAL YEAR END:			0630

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-41338
		FILM NUMBER:		261142435

	BUSINESS ADDRESS:	
		STREET 1:		1092 CONFROY DRIVE
		CITY:			SOUTH BOSTON
		STATE:			VA
		ZIP:			24592
		BUSINESS PHONE:		9802378900

	MAIL ADDRESS:	
		STREET 1:		1092 CONFROY DRIVE
		CITY:			SOUTH BOSTON
		STATE:			VA
		ZIP:			24592

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Hyperion Metals Ltd
		DATE OF NAME CHANGE:	20211210
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>ef20077170_6k.htm
<DESCRIPTION>6-K
<TEXT>
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    <div style="text-align: center; font-weight: bold;"><a name="z_Hlk113475159"></a><font style="font-size: 14pt;">UNITED STATES</font></div>
    <div style="text-align: center; font-size: 14pt; font-weight: bold;">SECURITIES AND EXCHANGE COMMISSION</div>
    <div style="text-align: center; font-size: 12pt; font-weight: bold;">Washington, D.C. 20549</div>
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    <div style="text-align: center; font-size: 18pt; font-weight: bold;">FORM 6-K</div>
    <div><br>
    </div>
    <div>
      <hr noshade="noshade" align="center" style="height: 2px; width: 20%; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;"></div>
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    <div style="text-align: center; font-weight: bold;">REPORT OF FOREIGN PRIVATE ISSUER</div>
    <div style="text-align: center; font-weight: bold;">Pursuant to Rule 13a-16 or 15d-16 of the</div>
    <div style="text-align: center; font-weight: bold;">Securities Exchange Act of 1934</div>
    <div><br>
    </div>
    <div style="text-align: center; font-weight: bold;">Date: July 1, 2026</div>
    <div style="text-align: center; font-weight: bold;"> <br>
    </div>
    <div style="text-align: center; font-size: 12pt;"><font style="font-size: 10pt; font-weight: bold;">Commission File Number:</font><font style="font-size: 10pt;">&#160;<font style="font-weight: bold;">001-41338</font></font></div>
    <div><br>
    </div>
    <div>
      <hr noshade="noshade" align="center" style="height: 2px; width: 20%; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;"></div>
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    <div style="text-align: center; font-size: 24pt; font-weight: bold;">IperionX Limited</div>
    <div style="text-align: center; font-weight: bold;">(Translation of registrant&#8217;s name into English)</div>
    <div><br>
    </div>
    <div>
      <hr noshade="noshade" align="center" style="height: 2px; width: 20%; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;"></div>
    <div><br>
    </div>
    <div style="text-align: center; font-weight: bold;">129 W Trade Street, Suite 1405</div>
    <div style="text-align: center; font-weight: bold;">Charlotte, North Carolina</div>
    <div style="text-align: center; font-weight: bold;">(Address of principal executive offices)</div>
    <div><br>
    </div>
    <div>
      <hr noshade="noshade" align="center" style="height: 2px; width: 20%; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;"></div>
    <div><br>
    </div>
    <div style="text-indent: 36pt;">Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.</div>
    <div><br>
    </div>
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            <div style="text-align: right;">Form 20-F &#9746;</div>
          </td>
          <td style="width: 2%; vertical-align: top;">&#160;</td>
          <td style="width: 58%; vertical-align: top;">
            <div style="font-size: 14pt;"><font style="font-size: 10pt;">Form 40-F &#9744;</font></div>
          </td>
        </tr>

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    <div style="text-align: center; font-weight: bold;">EXHIBIT INDEX</div>
    <div>The following exhibits are filed as part of this Form 6-K:</div>
    <div> <br>
    </div>
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          <td colspan="1" style="width: 1%; vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td style="width: 8%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center;">Exhibit</div>
          </td>
          <td style="width: 5%; vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td style="width: 86%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
            <div>Description</div>
          </td>
        </tr>
        <tr>
          <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
          <td style="width: 8%; vertical-align: bottom;">&#160;</td>
          <td style="vertical-align: bottom;" colspan="2">&#160;</td>
        </tr>
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          <td colspan="1" style="width: 1%; vertical-align: top; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 8%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div><a href="ef20077170_ex99-1.htm">99.1</a></div>
          </td>
          <td style="width: 5%; vertical-align: top; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 86%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div>Press Release</div>
          </td>
        </tr>

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    <div style="text-align: center; font-weight: bold;">SIGNATURE</div>
    <div style="text-align: center;"> <br>
    </div>
    <div>Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.</div>
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          <td style="width: 55%; vertical-align: bottom;">&#160;</td>
          <td style="vertical-align: bottom;" colspan="3">
            <div>IPERIONX LIMITED</div>
          </td>
        </tr>
        <tr>
          <td style="width: 55%; vertical-align: bottom;">&#160;</td>
          <td style="vertical-align: bottom;" colspan="3">
            <div>(registrant)</div>
          </td>
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          <td style="width: 55%; vertical-align: bottom;">&#160;</td>
          <td style="vertical-align: bottom;" colspan="3">&#160;</td>
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          <td style="width: 55%; vertical-align: bottom; padding-bottom: 2px;">
            <div>Date: July 1, 2026</div>
          </td>
          <td style="width: 3%; vertical-align: bottom; padding-bottom: 2px;">
            <div>By:</div>
          </td>
          <td style="width: 22%; vertical-align: bottom; border-bottom: 2px solid black;">/s/ Marcela Castro</td>
          <td style="width: 20%; vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 55%; vertical-align: bottom;">&#160;</td>
          <td style="vertical-align: bottom;" colspan="3">
            <div>Name: Marcela Castro</div>
          </td>
        </tr>
        <tr>
          <td style="width: 55%; vertical-align: bottom;">&#160;</td>
          <td style="vertical-align: bottom;" colspan="3">
            <div>Title:&#160;&#160; Chief Financial Officer</div>
          </td>
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    <div><a name="z_Hlk113475160"></a><br>
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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>ef20077170_ex99-1.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
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  <div style="text-align: right;"><font style="font-weight: bold;">Exhibit 99.1</font><br>
  </div>
  <div> <br>
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          <div style="text-align: right; color: #002554; font-size: 8pt;"><font style="font-size: 10pt; font-weight: bold;">PRESS RELEASE</font><font style="font-size: 10pt;"> | NASDAQ: IPX | ASX: IPX</font></div>
          <div style="text-align: right; color: #002554; font-size: 8pt;">
            <div style="color: rgb(0, 37, 84); font-size: 10pt; font-style: italic;">July 1, 2026</div>
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    <div style="text-align: center; color: rgb(55, 58, 54); font-weight: bold;"><a name="z_Hlk96607235"></a>IPERIONX AWARDED UP TO US$6.6M BY OSW-SWIB TO SCALE U.S. TITANIUM PLATE FOR DEFENSE APPLICATIONS</div>
    <div>&#160;</div>
    <div></div>
    <div style="text-align: center; color: rgb(55, 58, 54); font-style: italic; font-weight: bold;">Funding supports domestic production of ballistic-grade titanium plate and large-format military titanium components at IperionX&#8217;s Titanium Manufacturing
      Campus</div>
    <div>&#160;</div>
    <div></div>
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          <td style="width: 14.45pt; vertical-align: top; color: rgb(23, 23, 23);">&#9632;</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div style="color: #171717;"><font style="font-weight: bold;">IperionX awarded up to US$6.6 million</font> by the Office of the Secretary of War &#8211; Submarine Workforce and Industrial Base program (OSW&#8209;SWIB)</div>
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    <div>&#160;</div>
    <div></div>
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          </td>
          <td style="width: 14.45pt; vertical-align: top; color: #171717;">&#9632;</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div style="color: rgb(23, 23, 23);">The award forms part of a larger, multi-organization program to scale production of high-performance titanium alloy products, including <font style="font-weight: bold;">ballistic-grade titanium plate</font>,
              for land and maritime defense platforms</div>
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    <div>&#160;</div>
    <div></div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zf183e35a23124b608c4299cab004e859">

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          </td>
          <td style="width: 14.45pt; vertical-align: top; color: #171717;">&#9632;</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div style="color: rgb(23, 23, 23);">Funding will support <font style="font-weight: bold;">expanded manufacturing capability for large-format military titanium components </font>at IperionX&#8217;s Titanium Manufacturing Campus in Virginia,
              strengthening U.S. capacity for mission-critical titanium products and critical-material supply chains</div>
          </td>
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    <div>&#160;</div>
    <div></div>
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          </td>
          <td style="width: 14.45pt; vertical-align: top; color: #171717;">&#9632;</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div style="color: rgb(23, 23, 23);">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 </div>
          </td>
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    </table>
    <div>&#160;</div>
    <div></div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z48fa2caf7d414cb5b2ebb7be2af38b7c">

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          </td>
          <td style="width: 14.45pt; vertical-align: top; color: #171717;">&#9632;</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div style="color: rgb(23, 23, 23);">Alongside the OSW-SWIB award, IperionX has received an additional <font style="font-weight: bold;">purchase order from the U.S. Army Ground Vehicle Systems Center to manufacture a range of titanium
                fasteners</font> for the JLTV in support of U.S. Army and Marine Corps operational requirements</div>
          </td>
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    </table>
    <div>&#160;</div>
    <div>
      <hr noshade="noshade" align="center" style="height: 2px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;"></div>
    <div>&#160;</div>
    <div style="text-align: justify; color: #171717;"><font style="font-weight: bold;">IperionX Limited (NASDAQ: IPX, ASX: IPX) (IperionX)</font> has been awarded up to US$6.6 million under a U.S. Department of War (DoW) program, funded by the Office of
      the Secretary of War Submarine Workforce and Industrial Base, or OSW-SWIB. </div>
    <div>&#160;</div>
    <div style="text-align: justify; color: #171717;">The award forms part of a larger program to scale domestic production of high-performance titanium alloy products, including ballistic-grade titanium plate, for maritime and land defense platforms. </div>
    <div>&#160;</div>
    <div style="text-align: justify; color: #171717;">The multi-organization defense program will focus on titanium mill products and components for platforms requiring exceptional strength-to-weight performance, corrosion resistance, durability,
      ballistic-impact tolerance, and shock survivability. These requirements represent some of the most demanding performance standards in advanced defense materials, especially for applications exposed to harsh operating environments, high-impact loads,
      and extended service-life demands.</div>
    <div>&#160;</div>
    <div style="text-align: justify; color: #171717;">Funding will support capital equipment at IperionX&#8217;s Titanium Manufacturing Campus in Virginia, expanding manufacturing capabilities for large-format titanium components and strengthening U.S. capacity
      for mission&#8209;critical titanium products. The program will be completed in two phases with Phase 1 granting US$0.2 million for project scoping and test work. Upon successful completion, IperionX is expected to receive a further US$6.4 million to scale
      manufacturing capacity and purchase capital equipment. </div>
    <div>&#160;</div>
    <div style="text-align: justify; color: #171717;">The program directly supports IperionX&#8217;s strategy to establish a secure, low-cost and resilient American titanium manufacturing platform for defense and advanced industrial customers.</div>
    <div>&#160;</div>
    <div style="text-align: justify; color: #171717;">Conventional titanium plate production is technically complex, capital- and energy-intensive, and often characterized by low yields. The process typically involves sponge production, vacuum melting and
      remelting, ingot or slab casting, breakdown forging, hot rolling, repeated annealing, and final surface conditioning. Each of these steps can contribute to extended lead times, elevated production costs, material yield losses, and supply-chain
      constraints.</div>
    <div style="text-align: justify; color: #171717;"> <br>
    </div>
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                <div style="color: rgb(0, 37, 84); font-size: 8pt; font-weight: bold;">Virginia</div>
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              <td style="width: 34.88%; vertical-align: middle;">
                <div style="color: rgb(0, 37, 84); font-size: 8pt; font-weight: bold;">Tennessee</div>
              </td>
              <td style="width: 22.03%; vertical-align: middle;">
                <div style="color: rgb(0, 37, 84); font-size: 8pt; font-weight: bold;">Utah</div>
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              <td style="width: 4.54%; vertical-align: top; font-size: 8pt;">&#160;</td>
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                <div style="text-align: justify; text-indent: -180pt; margin-left: 180pt; color: rgb(111, 114, 113);">1092 Confroy Drive </div>
                <div style="text-align: justify; text-indent: -180pt; margin-left: 180pt; color: rgb(111, 114, 113);">South Boston, VA 24592</div>
              </td>
              <td style="width: 34.88%; vertical-align: middle; font-size: 8pt;">
                <div style="text-align: justify; text-indent: -180pt; margin-left: 180pt; color: rgb(111, 114, 113);">279 West Main Street</div>
                <div style="text-align: justify; text-indent: -180pt; margin-left: 180pt; color: rgb(111, 114, 113);">Camden, TN 38320</div>
              </td>
              <td style="width: 22.03%; vertical-align: middle; font-size: 8pt;">
                <div style="text-align: justify; text-indent: -180pt; margin-left: 180pt; color: rgb(111, 114, 113);">1782 W 2300 S</div>
                <div style="text-align: justify; text-indent: -180pt; margin-left: 180pt; color: rgb(111, 114, 113);">West Valley City, UT 84119</div>
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              <td rowspan="1" style="width: 4.54%; vertical-align: top; font-size: 8pt;">&#160;</td>
              <td rowspan="1" style="width: 38.55%; vertical-align: middle; font-size: 8pt;">&#160;</td>
              <td rowspan="1" style="width: 34.88%; vertical-align: middle; font-size: 8pt;">&#160;</td>
              <td rowspan="1" style="width: 22.03%; vertical-align: middle; font-size: 8pt;">&#160;</td>
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            <tr>
              <td colspan="2" rowspan="1" style="vertical-align: top; width: 4.54%; color: rgb(111, 114, 113); font-size: 8pt; font-weight: bold;">IperionX Limited ABN 84 618 935 372</td>
              <td rowspan="1" style="width: 34.88%; vertical-align: middle; font-size: 8pt;">&#160;</td>
              <td rowspan="1" style="width: 22.03%; vertical-align: middle; font-size: 8pt;">&#160;</td>
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    <!--PROfilePageNumberReset%Num%2%%%-->
    <div style="text-align: justify; color: #171717;">IperionX&#8217;s patented titanium technologies are designed to simplify and shorten this production route. The Company&#8217;s proprietary HAMR&#8482; process can produce low-cost titanium powder from titanium minerals
      or recycled titanium, while its HSPT&#8482; and THRM&#8482; technologies deliver high-performance, wrought-like titanium properties without reliance on the full conventional melt-remelt-forge pathway.</div>
    <div>&#160;</div>
    <div style="text-align: justify; color: #171717;">Together, these technologies support IperionX&#8217;s powder-to-plate titanium manufacturing platform, which is designed to reduce process steps, lower capital intensity, reduce energy intensity, improve
      material utilization and strengthen domestic supply-chain resilience for strategic titanium products.</div>
    <div>&#160;</div>
    <div style="text-align: justify; color: #171717;">Through this program, IperionX will produce and evaluate high-performance titanium alloy products for applications where titanium can provide lightweight alternatives to steel, including armor precursor
      plate, hatches, covers, brackets, structural components and maritime systems.</div>
    <div>&#160;</div>
    <div style="text-align: justify; color: #171717;">In maritime applications, titanium&#8217;s high strength, durability and corrosion resistance can support improved readiness, reduced maintenance and longer service life. Across land defense platforms, lower
      component weight can support improved mobility, payload capacity, fuel efficiency and survivability. </div>
    <div>&#160;</div>
    <div style="text-align: justify; color: #171717;">IperionX will collaborate with the George H.W. Bush Combat Development Complex, an organization within The Texas A&amp;M University System (TAMUS), and the U.S. Army Combat Capabilities Development
      Command Army Research Laboratory. The collaboration is expected to support material testing, ballistic and shock-survival evaluation, product validation and transition into defense and strategic U.S. industrial applications.</div>
    <div>&#160;</div>
    <div style="text-align: justify; color: #171717;">The project is a systematic metallurgical study to demonstrate how THRM/HSPT microstructural engineering can be used to achieve ballistic performance. This project complements separately DoW-funded
      IperionX programs for powder-to-plate production. Together these DoW-funded activities provide an alternative pathway that has the potential to reduce the U.S. dependency on imported titanium sponge.</div>
    <div>&#160;</div>
    <div></div>
    <div style="text-align: justify; color: #171717; font-weight: bold;">Joint Light Tactical Vehicle (JLTV) fastener prototype order</div>
    <div>&#160;</div>
    <div style="text-align: justify; color: #171717;">Alongside the OSW-SWIB award, IperionX has received a purchase order from the U.S. Army Ground Vehicle Systems Center to produce a range of prototype titanium fasteners for the JLTV and associated
      trailer &#8211; known as the &#8220;workhorse&#8221; of the Marine Corps&#8217; ground tactical vehicle fleet &#8211; to support U.S. Army and Marine Corps operational requirements. </div>
    <div>&#160;</div>
    <div style="text-align: justify; color: #171717;">The JLTV is a U.S. military light tactical vehicle, originally built by Oshkosh Defense, designed to replace many Humvees by providing greater protection, mobility, payload capacity, and networked
      mission flexibility for combat and support operations.</div>
    <div>&#160;</div>
    <div style="text-align: justify; color: #171717;">While the value of the initial purchase order is not considered material, a successful prototyping program has the potential to progress into an accelerated roll-out program across a large number of
      ground vehicles, providing lightweight, strong and corrosion resistant titanium components for the U.S. warfighter.</div>
    <div>&#160;</div>
    <div></div>
    <div style="text-align: justify; color: #171717; font-weight: bold;">IperionX Senior Adviser U.S. Army Lieutenant General Ross Coffman U.S. Army (Retired) said:</div>
    <div>&#160;</div>
    <div></div>
    <div style="text-align: justify; color: #171717;">&#8220;During my time as Deputy Commanding General of Army Futures Command, I enjoyed my collaboration with BCDC, and I saw firsthand the importance of a secure U.S. low-cost titanium supply chain for
      national security. </div>
    <div>&#160;</div>
    <div style="text-align: justify; color: #171717;">The Army has a pressing need to reduce the weight of our ground vehicle platforms to maintain combat effectiveness. The benefits of titanium across all defense mobility platforms, including robotics,
      are well known and I&#8217;m proud to be on this mission with IperionX."</div>
    <div>&#160;</div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt; font-size: 8pt;" class="BRPFPageBreakArea">
      <div class="BRPFPageNumberArea" style="text-align: right;"><font class="BRPFPageNumber" style="color: rgb(0, 0, 0); font-weight: normal; font-style: normal;">2</font></div>
      <div style="page-break-after: always;" class="BRPFPageBreak">
        <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
    </div>
    <div></div>
    <div></div>
    <div style="text-align: justify; color: #171717; font-weight: bold;">IperionX CEO Taso Arima said:</div>
    <div>&#160;</div>
    <div style="text-align: justify; color: #171717;">"This award is an important validation of IperionX's strategy to scale high-performance titanium manufacturing capacity in the United States. By combining lower-cost titanium feedstocks with our
      patented HAMR&#8482;, HSPT&#8482; and THRM&#8482; technologies, we are developing a more efficient domestic manufacturing platform for high-performance titanium plate and components.</div>
    <div>&#160;</div>
    <div style="text-align: justify; color: #171717;">Our objective is to shorten the conventional titanium production chain, reduce supply-chain complexity and build a more resilient, lower-cost U.S. titanium supply chain for defense, aerospace and
      advanced manufacturing customers.</div>
    <div>&#160;</div>
    <div style="text-align: justify; color: #171717;">In addition to the award, the new prototype order for titanium fasteners for the JLTV is a further signal of the important role that is developing for IperionX in supporting the U.S. defense industrial
      base.&#8221;</div>
    <div>&#160;</div>
    <div></div>
    <div style="color: #171717;">This announcement has been authorized for release by the CEO and Managing Director. </div>
    <div>&#160;</div>
    <div></div>
    <div style="color: #171717;">For further information and enquiries please contact:</div>
    <div>&#160;</div>
    <div></div>
    <div style="color: #171717;"><font style="font-weight: bold;">info@iperionx.com</font>&#160;</div>
    <div></div>
    <div></div>
    <div style="color: #171717; font-weight: bold;">+1 980 237 8900</div>
    <div>&#160;</div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt; font-size: 8pt;" class="BRPFPageBreakArea">
      <div class="BRPFPageNumberArea" style="text-align: right;"><font class="BRPFPageNumber" style="color: rgb(0, 0, 0); font-weight: normal; font-style: normal;">3</font></div>
      <div style="page-break-after: always;" class="BRPFPageBreak">
        <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
    </div>
    <div></div>
    <div></div>
    <div></div>
    <div style="text-align: justify; color: #171717; font-weight: bold;">Appendix A</div>
    <div>&#160;</div>
    <div></div>
    <div style="text-align: justify; color: #171717; font-weight: bold;">Award details</div>
    <div>&#160;</div>
    <div style="text-align: justify; color: #161616;">IperionX has been awarded an initial $0.2 million in funding under the OSW Submarine Workforce and Industrial Base Program for project scoping and test work (Phase 1). Upon, and subject to, successful
      completion of Phase 1, IperionX will be awarded a further $6.4 million to scale process technology and purchase capital equipment to be installed at IperionX&#8217;s Titanium Manufacturing Campus (Phase 2). Phase1 and Phase 2 of the project are scheduled
      to be complete within two years.</div>
    <div>&#160;</div>
    <div></div>
    <div style="text-align: justify; color: #171717; font-weight: bold;">About THRM<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">TM</sup> and HSPT<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">TM</sup></div>
    <div>&#160;</div>
    <div style="text-align: justify; color: #171717;">IperionX's patented THRM&#8482; and HSPT&#8482; processes use hydrogen-enabled thermodynamics and powder-metallurgy processing to engineer wrought-like microstructures and mechanical properties in titanium alloys.
      These technologies reduce processing complexity and limit reliance on conventional high-cost forging and extensive thermo-mechanical work, enabling a faster and lower-cost route to advanced titanium components.</div>
    <div>&#160;</div>
    <div style="text-align: justify; color: #171717;">IperionX&#8217;s leading R&amp;D team includes THRM&#8482; and HSPT&#8482; co-inventor Dr. James Paramore, who joined the Company after previously serving at both the U.S. Army DEVCOM ARL and BCDC.</div>
    <div>&#160;</div>
    <div></div>
    <div style="text-align: justify; color: #171717; font-weight: bold;">Titanium for U.S. Defense Industrial Base </div>
    <div>&#160;</div>
    <div style="text-align: justify; color: #171717;">U.S. Department of War&#8217;s SWIB program reflects the strategic priority of rebuilding domestic industrial capability in critical defense materials. </div>
    <div>&#160;</div>
    <div></div>
    <div style="text-align: justify; color: #171717; font-weight: bold;">Why titanium matters</div>
    <div>&#160;</div>
    <div></div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z18cdb973c7e849bea7f08fb837404952">

        <tr>
          <td style="width: 7.1pt;"><br>
          </td>
          <td style="width: 14.2pt; vertical-align: top; color: #171717;">&#9632;</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div style="color: rgb(23, 23, 23);">Defense platforms require titanium plate, sheet and fabricated components where weight, durability, corrosion resistance and strength matter most.</div>
          </td>
        </tr>

    </table>
    <div>&#160;</div>
    <div></div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z51107e76a55549f2a9c4123c66750249">

        <tr>
          <td style="width: 7.1pt;"><br>
          </td>
          <td style="width: 14.2pt; vertical-align: top; color: #171717;">&#9632;</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div style="color: rgb(23, 23, 23);">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.</div>
          </td>
        </tr>

    </table>
    <div>&#160;</div>
    <div></div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z11dd83430e2c43feb19302d3f373288b">

        <tr>
          <td style="width: 7.1pt;"><br>
          </td>
          <td style="width: 14.2pt; vertical-align: top; color: #171717;">&#9632;</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div style="color: rgb(23, 23, 23);">In maritime defense platforms, titanium&#8217;s strength, durability and corrosion resistance can reduce maintenance, extend service life and improve readiness.</div>
          </td>
        </tr>

    </table>
    <div>&#160;</div>
    <div></div>
    <div style="text-align: justify; color: #171717; font-weight: bold;">Why incumbent production is difficult</div>
    <div>&#160;</div>
    <div></div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z5dea552a72de407990979c8cccd8db52">

        <tr>
          <td style="width: 7.1pt;"><br>
          </td>
          <td style="width: 14.2pt; vertical-align: top; color: #171717;">&#9632;</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div style="color: rgb(23, 23, 23);">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.</div>
          </td>
        </tr>

    </table>
    <div>&#160;</div>
    <div></div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z22b916c119c44f6d9535e7581a2b7517">

        <tr>
          <td style="width: 7.1pt;"><br>
          </td>
          <td style="width: 14.2pt; vertical-align: top; color: #171717;">&#9632;</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div style="color: rgb(23, 23, 23);">Titanium&#8217;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.</div>
          </td>
        </tr>

    </table>
    <div>&#160;</div>
    <div></div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z53a506cf11084d2bbf2743ef17f5c7ca">

        <tr>
          <td style="width: 7.1pt;"><br>
          </td>
          <td style="width: 14.2pt; vertical-align: top; color: #171717;">&#9632;</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div style="color: rgb(23, 23, 23);">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.</div>
          </td>
        </tr>

    </table>
    <div>&#160;</div>
    <div></div>
    <div style="text-align: justify; color: #171717; font-weight: bold;">IperionX&#8217;s powder-to-plate manufacturing platform</div>
    <div>&#160;</div>
    <div></div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z03138e8d7a6246e3a4a12c42cbd1b36b">

        <tr>
          <td style="width: 7.1pt;"><br>
          </td>
          <td style="width: 14.2pt; vertical-align: top; color: #171717;">&#9632;</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div style="color: rgb(23, 23, 23);">HAMR&#8482; produces low-cost titanium powder from titanium minerals or recycled titanium, and HSPT&#8482; + THRM&#8482; deliver wrought-like titanium properties without the full conventional melt-remelt-forge pathway</div>
          </td>
        </tr>

    </table>
    <div>&#160;</div>
    <div></div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z5376275da67f41be92b0709c3c3e5755">

        <tr>
          <td style="width: 7.1pt;"><br>
          </td>
          <td style="width: 14.2pt; vertical-align: top; color: #171717;">&#9632;</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div style="color: rgb(23, 23, 23);">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</div>
          </td>
        </tr>

    </table>
    <div>&#160;</div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt; font-size: 8pt;" class="BRPFPageBreakArea">
      <div class="BRPFPageNumberArea" style="text-align: right;"><font class="BRPFPageNumber" style="color: rgb(0, 0, 0); font-weight: normal; font-style: normal;">4</font></div>
      <div style="page-break-after: always;" class="BRPFPageBreak">
        <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
    </div>
    <div></div>
    <div></div>
    <div style="text-align: justify; color: #171717; font-weight: bold;">About IperionX </div>
    <div>&#160;</div>
    <div style="text-align: justify; color: #171717;">IperionX is a leading American titanium metal and critical materials company &#8211; using patented metal technologies to produce high performance titanium alloys, from titanium minerals or scrap titanium, at
      lower energy, cost and carbon emissions. </div>
    <div>&#160;</div>
    <div style="text-align: justify; color: #171717;">Our Titan critical minerals project is the largest JORC-compliant mineral resource of titanium, rare earth and zircon minerals sands in the United States. </div>
    <div>&#160;</div>
    <div style="text-align: justify; color: #171717;">IperionX&#8217;s titanium metal and critical minerals are essential for advanced U.S. industries including space, aerospace, defense, consumer electronics, hydrogen, automotive and additive manufacturing. </div>
    <div>&#160;</div>
    <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="zeeb152577bbb41d4b0f1ed153b2d3655">

        <tr>
          <td colspan="1" style="width: 1%; vertical-align: top; background-color: rgb(217, 217, 217); border-left: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0);">&#160;</td>
          <td style="width: 98%; vertical-align: top; background-color: rgb(217, 217, 217); border-bottom: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0);">
            <div style="color: rgb(111, 114, 113); font-style: italic; font-weight: bold;"> <br>
            </div>
            <div style="color: rgb(111, 114, 113); font-style: italic; font-weight: bold;">Forward Looking Statements</div>
            <div>
              <div>&#160;</div>
              <div style="text-align: justify; color: rgb(111, 114, 113); font-style: italic;">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 &#8220;may&#8221;, &#8220;will&#8221;, &#8220;expect&#8221;, &#8220;intend&#8221;, &#8220;plan&#8221;, &#8220;estimate&#8221;, &#8220;anticipate&#8221;, &#8220;continue&#8221;, and &#8220;guidance&#8221;, 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. </div>
              <div style="text-align: justify; color: rgb(111, 114, 113); font-style: italic;"> <br>
              </div>
              <div style="text-align: justify; color: rgb(111, 114, 113); font-style: italic;">Forward looking statements inherently involve known and unknown risks, uncertainties and other factors that may cause the Company&#8217;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&#8217;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.</div>
              <div style="text-align: justify; color: rgb(111, 114, 113); font-style: italic;"> <br>
              </div>
              <div style="text-align: justify; color: rgb(111, 114, 113); font-style: italic;">Forward looking statements are based on the Company and its management&#8217;s good faith assumptions relating to the financial, market, regulatory and other relevant
                environments that will exist and affect the Company&#8217;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&#8217;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&#8217;s control.</div>
              <div>&#160;</div>
            </div>
            <div style="color: rgb(111, 114, 113); font-style: italic;">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.</div>
            <div style="color: rgb(111, 114, 113); font-style: italic;"> <br>
            </div>
          </td>
          <td colspan="1" style="width: 1%; vertical-align: top; background-color: rgb(217, 217, 217); border-right: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0);">&#160;</td>
        </tr>

    </table>
    <div><br>
    </div>
    <div><br>
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    <div></div>
    <div style="text-align: right;"><font style="font-size: 8pt;">5</font><br>
    </div>
    <div>
      <hr noshade="noshade" align="center" style="height: 2px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;"></div>
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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
