Newton Resources Ltd. provided unaudited consolidated earnings guidance for the six months ended June 30, 2023. Based on the preliminary review of the unaudited consolidated management accounts of the Group for the six- month period ended 30 June 2023 and other information available to the Group, the board of directors of the Company would like to inform the shareholders of the Company and potential investors that the Group is expected to record a net profit in the range of approximately USD 2.7 million to approximately USD 3.0 million for the Current Period, as compared to the net profit of approximately USD 0.2 million recorded for the six-month period ended 30 June 2022. The expected increase in the net profit of the Group for the Current Period as compared to the Corresponding Prior Period is mainly due to the significant increase in the Group's revenue and gross profit attributable to the
increase in the sales of high-grade iron ores in terms of quantity and the net gain recognised from the iron ore futures and/or swap contracts through the execution of designated hedging strategy by the Group during the Current Period.