IperionX Limited Response to ASX Price Query

IperionX Limited (NASDAQ: IPX, ASX: IPX) is responding to an ASX query regarding a significant price change in its securities. The company states it is not aware of any non-public information that could explain the recent trading activity. IperionX clarifies its funding mechanism for U.S. Department of War grants: the company makes advance payments, which are subsequently reimbursed by the U.S. government. As of December 31, 2025, approximately $6.6 million in payments were awaiting reimbursement, with a total of $46.5 million available for reimbursement. The company procures equipment as an agent for the U.S. government, recording receivables rather than assets or expenses. Title to equipment may transfer to IperionX post-project at the government's discretion. IperionX confirms compliance with Listing Rule 3.1.