AUSTRALIAN-GERMAN BUSINESS COALITION PRODUCES A ROADMAP FOR LARGE SCALE GREEN HYDROGEN IMPORT TO GERMANY - FORTESCUE FUTURE INDUSTRIES - Seite 3

every EUR1 spent as a support mechanism by Government for green hydrogen, EUR10
is unlocked in private investment."

Global green energy company FFI and one of Europe's largest energy companies
with focus on energy infrastructure and customer solutions, E.ON, recently
announced a partnership with the goal to supply 5 million tonnes of green
hydrogen a year by 2030 - the equivalent of one third of the calorific energy of
natural gas Germany imports from Russia.

"Our message is very clear. The green energy industrial revolution is here. Do
not allow the energy crisis to make the climate crisis worse. Germany can become
a green energy superpower and we have outlined the pathway to make it happen,
including the financial investment required by government. Business is ready."

Key findings from the reports released today:

- Industrial demand centers in Germany and the EU are ready to offtake up to 5
Mtpa of green hydrogen in the short-term, with a total addressable market of
up to 27 Mtpa in the long-term.
- By 2030, carbon price will likely reach a sufficient threshold for imported
green hydrogen to be competitive with fossil fuels, negating the need for any
further subsidies (Source: RMI analysis)
- The required near-term market- and first-mover support of EUR20-30 billion
will achieve more than 10x leverage on capital deployed into industrial
assets. (Source: RMI analysis)
- Clear and timely government support is needed to signal confidence in a
burgeoning green hydrogen market and remove barriers to investment.
- Once common standards and robust financial mechanisms are in place,
stakeholders across the green hydrogen value chain are ready to agree on
contracts and ensure production, transport, storage, and conversion facilities
are ramped up at the scale required to meet deployment targets.
- Green ammonia is a key route for green hydrogen to be supplied to EU markets
as existing infrastructure can be leveraged and expanded, and safe handling of
ammonia is well established
- Moving quickly and strategically to build up a green hydrogen trade will
enable Germany and the EU to capitalize on short-term opportunities across
volatile global energy markets, and to safeguard energy security while
achieving critical decarbonization objectives.

A full copy of the White Paper and 10 point action plan was released today and
can be found at https://ffi.com.au/news/australian-german-business-coalition

Read about each company at http://www.ffi.com.au/

Contact:

Fortescue Future Industries,
Mary Morgan,
[phone] (UK),
[e-mail]; Covestro,
Lars Boelke,
[phone] (Germany),
[e-mail] or Przemyslaw Jedrysik,
[phone] (Germany),
[e-mail]; E.ON SE,
Leif Erichsen,
[phone] (Germany),
Corporate Spokesperson,
[e-mail]; Linde Engineering,
Elitsa Kateva,
[phone],
Lead Global Marketing & Communications,
[e-mail]; Luthardt,
Sven Luthardt,
[phone] (Germany),
Managing Partner,
[e-mail]; SAP,
Hana Heine,
[phone] (Germany),
SAP Global Media Relations,
[e-mail]; Schaeffler,
Dr. Axel Lüdeke,
[phone] (Germany),
Head of Group Communications & Public Affairs,
[e-mail]; thyssenkrupp nucera,
Katharina Immoor,
[phone] (Germany),
Head of Communications,
[e-mail]; thyssenkrupp Uhde,
Christian Dill,
[phone] (Germany),
Senior Communications Manager,
[e-mail]

Additional content: http://presseportal.de/pm/163964/5256350
OTS: Fortescue Future Industries