-- U.S. Department of War, through its Industrial Base Analysis and 
      Sustainment program, has obligated an additional US$25 million under 
      IperionX's previously announced US$47.1 million award 
 
   -- IBAS funding supports the build-out of a resilient, fully integrated, and 
      low-cost titanium supply chain - from minerals to metal - strengthening 
      the U.S. defense industrial base 
 
   -- Funds will be applied to the scale-up of production to 1,400 tpa at 
      IperionX's Titanium Manufacturing Campus in Virginia 
 
   -- The $25.0 million obligation, along with the prior US$12.5 
      million and US$5.0 million, takes total obligations to US$42.5 million, 
      with the remaining US$4.6 million expected to be obligated over the 
      contract term 

CHARLOTTE, N.C., Sept. 26, 2025 (GLOBE NEWSWIRE) -- IperionX Limited (IperionX) (NASDAQ: IPX, ASX: IPX), announces that the U.S. Department of War (DoW) through its Industrial Base Analysis and Sustainment (IBAS) program, has obligated an additional US$25 million under IperionX's previously awarded US$47.1 million award.

The additional obligation will be applied to the scale-up of titanium production and advanced manufacturing capacity at IperionX 's Titanium Manufacturing Campus, enabling output of up to 1,400 metric tons per year (tpa).

The IBAS program is designed to reinforce U.S. defense supply chains by fostering a resilient, low-cost, mineral-to-metal titanium platform that reduces reliance on imports and establishes a secure uninterruptible domestic source of critical materials.

This latest obligation follows prior tranches of US$12.5 million and US$5 million, which funded long-lead items for titanium manufacturing equipment and to advance the Titan Critical Minerals Project in Tennessee to shovel-ready status. Total obligations now stand at US$42.5 million, with the remaining US$4.6 million expected to be obligated by the DoW over the contract term.

About IperionX

IperionX is a leading American titanium metal and critical materials company -- using patented metal technologies to produce high performance titanium alloys, from titanium minerals or scrap titanium, at lower energy, cost and carbon emissions.

Our Titan critical minerals project is the largest JORC-compliant mineral resource of titanium, rare earth and zircon minerals sands in the United States.

IperionX's titanium metal and critical minerals are essential for advanced U.S. industries including space, aerospace, defense, consumer electronics, hydrogen, automotive and additive manufacturing.

Contacts

Anastasios (Taso) Arima, Founder and CEO

Toby Symonds, President

Dominic Allen, Chief Commercial Officer

Investors: investorrelations@iperionx.com

Media: media@iperionx.com

+1 980 237 8900

www.iperionx.com

(END) Dow Jones Newswires

September 26, 2025 08:30 ET (12:30 GMT)