AUSTRALIAN-GERMAN BUSINESS COALITION PRODUCES A ROADMAP FOR LARGE SCALE GREEN HYDROGEN IMPORT TO GERMANY - FORTESCUE FUTURE INDUSTRIES

Berlin and Perth, Australia (ots/PRNewswire) - Today a leading group of German
companies along with Australia's Fortescue Future Industries (FFI) has released
a green hydrogen roadmap , outlining a set of recommendations for government and
industry, to meet the ambitious target of importing large amounts of green
hydrogen from Australia to Germany.

The Green Hydrogen Taskforce, created earlier this year, is a collaborative
effort between FFI, and some of the strongest energy, industrial, and technology
companies in Germany, including Covestro, E.ON, Linde, Luthardt, SAP,
Schaeffler, thyssenkrupp Nucera and thyssenkrupp Uhde.

The green hydrogen roadmap developed by the Taskforce consists of a 10-point
plan and a White Paper and is intended to outline a constructive pathway forward
in Germany for business and government. The roadmap could potentially serve as
an example for other nations looking for solutions at the upcoming G7 meeting.
The G7 meeting will discuss hydrogen and has already developed a G7 Hydrogen
Action Pact (G7 HAP) which will form part of the final G7 communique.

The companies in the taskforce are ready to move on green energy through serious
investment and will work with Government to achieve these goals together. The
recommendations to the German government include: developing subsidies and
incentives to remove the "First Mover Disadvantage"; encouraging sources of
low-cost capital to scale the industry, and underwriting equipment manufacturers
expansion plans to meet developer's needs.

Climate change has become a dramatic reality of our times with visible impacts
on all continents and all countries. The UN IPCC report has recommended reducing
fossil fuel production to keep temperature increases under 1.5 degrees and halt
the worst impacts of global warming. With this responsibility in mind, the
industry stands ready to do its part.

The Russian war on Ukraine has in addition created a new reality. This must lead
to an accelerated energy transition, especially regarding the development of a
green hydrogen economy, which will help to decarbonise as well as to diversify
energy supply.

Dr. Cord Landsmann, CEO of thyssenkrupp Uhde, said, "The future of energy needs
the right partnerships and the right technologies. We bring our expertise in
industrial-scale hydrogen applications like green ammonia for enabling the
worldwide export/import of clean energy."

Patrick Lammers, COO at E.ON, said, "We are determined to implement the green
transformation of the economy. For this, the development of a reasonable green
hydrogen environment must be given priority. In the long term, this strengthens