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25 September 2024

FORTESCUE SIGNS US$2.8 BILLION GREEN EQUIPMENT PARTNERSHIP WITH LIEBHERR

FOR ZERO EMISSION MINING SOLUTIONS

Fortescue Ltd (Fortescue, ASX: FMG) today announced a significant expansion of its partnership

with global equipment manufacturer Liebherr, to jointly develop and validate a range of zero

emission mining solutions. It builds on the partnership established in June 2022 and increases the

total number of machines to be supplied by Liebherr to approximately 475. The equipment will be

powered by the battery power system developed by Fortescue Zero. Liebherr and Fortescue will

also deploy an autonomous battery electric haulage solution for large scale mining operations.

The partnership is expected to create one of the world's largest zero emission mining fleets and

represents a major breakthrough in the pursuit of a mining industry no longer reliant on fossil fuels.

It demonstrates tangible progress towards transitioning Fortescue’s diesel mining fleet to a zero

emission fleet, aligned with the Company’s target to achieve Real Zero Scope 1 and 2 emissions

across its Australian terrestrial iron ore operations by 2030.

Expanding on the partnership announced in June 2022, it increases the mining fleet to be supplied

by Liebherr from 120 haul trucks to approximately 475 zero emission machines. Fortescue is

anticipated to purchase approximately 360 autonomous battery electric trucks, 55 electric

excavators and 60 battery powered dozers. This represents about two thirds of the current mining

fleet at Fortescue’s operations. Fortescue’s mining fleet consumed approximately 450 million litres

of diesel in FY24 and accounted for 51 per cent of its Scope 1 emissions.

The phased supply of the equipment commenced in October 2023 and it is planned to be complete

by 2030. Delivery of the fleet is aligned with Fortescue's fleet replacement cycle and sustaining

capital expenditure and decarbonisation capital expenditure forecast. The total value of the

partnership, comprising the supply of machines by Liebherr and the battery power system from

Fortescue Zero, is up to US$2.8 billion. This is the single largest equipment deal in Europe’s highly

successful manufacturing and technology company Liebherr’s 75 year history and is Fortescue’s

single largest ever contract in its history.

Fortescue Executive Chairman, Dr Andrew Forrest AO said, “Partnerships with companies and

people like Liebherr and Willi Liebherr – where ambition is backed by action – are critical.

“This is an important next step in our 2030 Real Zero target – to eliminate emissions from our

Australian terrestrial iron ore operations by the end of the decade. The world needs Real Zero now

– it simply cannot afford to wait. The green solutions we need are here today, and Fortescue Zero

is supplying them and rolling them out across our massive mining operations. Fortescue Zero

developed this battery technology and jointly developed the Automated Haulage Solution, leading

the way to provide green innovative solutions to eliminate emissions from heavy industry.

“We invite all companies in the mining, heavy industry and haulage sectors to join us. The solutions

are there, and the missing ingredient is leadership. The time of others persuading you that

greenwashing is a better return to shareholders and your community is over. Fortescue invites you

to join us. We can together be the trailblazers who forge the world's move away from fossil fuels.