IO#9 Update

Iofina plc, specialists in the exploration and production of iodine and manufacturers of specialty chemical products, is pleased to provide an update on its IOsorb® iodine plant, IO#9, in Western Oklahoma.

As previously reported, the ramp-up phase of IO#9, since it was switched on in June 2023, took longer than anticipated. Recently our partner completed upgrades to its water gathering system, which has improved the flow of brine water to the plant. Since the completion of this work, the Company has been able to steadily increase crystalline iodine production with the higher water flow and can confirm that the plant is now operating within the expected range of output. The Company expects second-half production at the bottom, or very marginally below the bottom end of the forecast range of 325-350 MT from its six iodine plants.

President and CEO, Dr. Tom Becker, stated: "Whilst IO#9's ramp-up took longer than expected, we are now back on track with the plant producing crystalline iodine at the rate expected. Looking ahead, we feel there is an opportunity with our partner to potentially increase flow even further than the current production rate. In the meantime, IO#10 planning is advancing well and the Company continues to make progress with negotiations relating to our pipeline of further new plants."

Iofina Resources

Iofina Chemical

Iofina Chemical has manufactured high quality halogen speciality chemicals derived from raw iodine, as well as non-iodine-based products. Iofina Chemical will be celebrating its 40th anniversary in 2023 as a preeminent halogen-based specialty chemicals company.