H1 2025 Update

IO#11 Commissioned

Iofina plc, specialists in the exploration and production of iodine and manufacturers of specialty chemical products, today provides an update to the market regarding its activities during H1 2025 (the "Period") and the commissioning of IO#11.

The Company is pleased to report that following a strong second quarter, Iofina Resources produced 305.5 metric tonnes ("MT") of crystalline iodine in the Period, an increase of 10.6% (H1 2024: 276.1 MT). This figure was both a record H1 production total and slightly higher than the Company's revised production guidance for the Period of c.300 MT, as stated in the Q1 2025 update.

Iofina's Resources' newest commissioned plant, IO#11, is in the final stages of hydro-testing, with brine water flowing through the system. Iofina expects the new plant to be producing crystalline iodine this month. IO#11 will be the third plant in operation in the central Oklahoma core area since June 2023, with the Group having eight IOsorb® plants in total. IO#11 is expected to make a material contribution to total crystalline iodine production in the second half of the year, with an estimated annual output from this plant of approximately 100 MT.

The Company is finalising the specific location and timeline with its preferred partner for IO#12, with the intention of commencing foundation work on the new plant before the end of 2025.

With the Company's plants operating at a more optimal flow rate compared to the start of the year and the addition and ramp-up of IO#11 in Q3 2025, the Company anticipates production in the second half of 2025 to be in the range of 400-440 MT from our eight operating plants in Oklahoma. As IO#11 production normalises, this total H2 2025 production range will become clearer over the coming months, and we will update the market at that point.

Iofina continues to see strong demand for its products, with sales tracking in line with the Board's expectations and reflecting the favourable trends across the iodine market. The price of spot iodine (100% basis) is firmly above $70/kg and is expected to stay at these levels for the foreseeable future.

Finally, the Company continues to preserve its safety record, with no lost time accidents for over four years. The Group continually seeks to implement the latest policies, with safety being the paramount factor.

Commenting, President and CEO, Dr. Tom Becker, stated:

"After experiencing some initial production challenges in the first quarter of the year, our team has successfully worked with our brine supply partners to improve water flows to the plants, culminating in a record H1 production of 305.5MT. We are also pleased to have completed IO#11 on time and on budget, and with production at the new plant expected to ramp up during Q3 2025, we now anticipate producing 400-440 MT of crystalline iodine during the second half of 2025. The execution of our growth strategy, combined with a healthy iodine market, will result in 2025 seeing further records for the Group."

Iofina Resources

Iofina Chemical

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