IRC Limited has issued an announcement indicating that the group expects to record a net loss attributable to company owners of approximately $125 million to $135 million for the fiscal year ending December 31, 2025. This compares to a net loss attributable to company owners of approximately $20.5 million for the previous fiscal year ended December 31, 2024. The significant increase in the anticipated loss is primarily due to an asset impairment loss provision of approximately $153 million recognized for the K&S mine as of December 31, 2025. No such provision was made as of December 31, 2024. The main reason for recognizing this asset impairment provision is the appreciation of the Russian Ruble and the consequent expectation of a stronger exchange rate, which is forecast to lead to an increase in US dollar-denominated operating costs. Shareholders are advised to note that any impairment charges or subsequent reversals are non-cash and non-recurring items and will not have a direct impact on the group's cash flow.