Alpha Hpa Limited · ASX:A4N
Alpha Hpa — Investor Presentation (September 2025)
32 slides from Alpha Hpa's investor presentation, September 2025
Slide 1: Scaling Disruptive New Technology
ASX: A4N Alpha HPA = -- SCALING DISRUPTIVE NEW TECHNOLOGY SUPPLYING ULTRA-HIGH PURITY CRITICAL ALUMINUM MATERIALS
Slide 2: Cautionary Statement
CAUTIONARY STATEMENT The Definitive Feasibility Study (DFS) referred to in this Presentation has been undertaken to assess the technical and financial viability of the HPA First project. The DFS is based on the material assumptions about the availability of funding and the pricing received for Alpha
Slide 3: Alpha HPA: A technology led, speciality chemicals company
ALPHA HPA: A technology led, speciality chemicals company Manufacturing ultra-high purity aluminum products with a which are: am CRITICAL RAW MATERIALS FOR HIGH-TECHNOLOGY GROWTH SECTORS HIGH PURITY - HIGH MARGIN — HIGH VALUE Commercialising in 2 Stages as the) | HPA FIRST PROJECT | STAGE 1—IN PRODU
Slide 4: Stage 1 and Stage 2
STAGE 1: STAGE 2:
Slide 5: Stage 1 Facility: Production, Sales and Qualification
STAGE 1 FACILITY: PRODUCTION, SALES AND QUALIFICATION Alpha HPA
Slide 6: Stage 1 Facility
STAGE 1 FACILITY:
Slide 7: Manufacturing Facilities Layout
MANUFACTURING FACILITIES LAYOUT: $175M Equity Capital (May-June 2024) $21.7M IPP Grant (QLD Govt) $45M MMI-C Grant (Aust Govt) Alpha HPA
Slide 8: Stage 2 In Construction
IN CONSTRUCTION STAGE 2 Alpha HPA
Slide 9: Novel Process Technology
NOVEL PROCESS TECHNOLOGY Unique purity and product performance By products are sent to Orica and returned as reagents ina wasteless process. RioTinto Industrial Al(OH); Ultra_ATH™ +4N5 High Purity Aluminium Hydroxides ‘A(OH); or Al-O-OH Ultra_GAP-x™ Ultra_AAP-X™. Ultra_NAP™ +4N5 High Purity +4N5 Hig
Slide 10: Alumina process comparison vs incumbent alkoxide process
ALUMINA SMELTER GRADE BAUXITE HYDRATE ALUMINA ( —) = —) mmm) (2 BAUXITE ALUMINA CALCINING ‘SMELTING MINING REFINING ~0.5kg CO,/kg HPA 6.6kg CO,/kg HPA ALUMINIUM METAL Al(OH); FEEDSTOCK ENERGY SAVING = 7.1kg CO./kg HPA WIDE RANGE OF ULTRA PURE ALUMINAS (>99.995%) UNIT COST = USS6.7/kg HPA** * Using r
Slide 11: Comparative thermal conductivity of alumina vs silica
• • • Comparative thermal conductivity of alumina vs silica 40 Thermal Conductivity (W m 1 k 1) 36 35 30 25 20 15 10 5 1.3 0
Slide 12: Low-alpha emission alumina becoming critical for semiconductors
e Assemiconductor nodes continue to reduce, ‘low-alpha’ emission alumina materials are becoming critical e Increasingly adopted for thermal fillers and for ‘wafer adjacent ceramic parts in manufacturing equipment e Emission of alpha radiation particles cause ‘bit-flips’ and soft errors e Unique puri
Slide 13: Our Position in the Supply Chain
OUR POSITION IN THE SUPPLY CHAIN Advanced packaging OEM (EMC/MUF/DAF* etc) ‘low alpha’ spherical alumina manufacturers Semiconductor IDM’s & Foundries Semiconductor equipment manufacturers ‘low alpha’ alumina component OEM’s \_ Alpha’s Customers ) * EMC = Epoxy Molding Compound “DAF = Die Attach Fil
Slide 14: Customer Case Studies
CUSTOMER CASE STUDIES Spherical alumina OEM 18 month qualification Sales commenced LO! 100tpa Semiconductor Spherical alumina OEM 18 month qualification Sales commenced LOI up to 1,000tpa Semiconductor IDM** Alpha’s Customers * EMC = Epoxy Molding Compound ** Semiconductor OEM with integrated EMC
Slide 15: Short List of 'Low Alpha' Alumina Outreach
SHORT LIST OF ‘LOW ALPHA’ ALUMINA OUTREACH Alpna HPA COMMERCIAL DOMICILE SUMMARY STATUS TEST #1 Seaasiieat as ‘SALES Lol TESTING ~1,000kg/m 2. SOP 2027 E> “es E> Largest Korea-based, alumina OEM. Well established in low-purity spherical alumina, looking to expand to include high purity/low-alpha off
Slide 16: Alumina product performance comparison
• • • 9.2 8.1 7.4 7.1 6.6 6.2 6.3 6.1 Industry standard Pseudoboehmite Gamma Alumina Alpha seeded Alumina Hydrate 90% Calc. Rotary Alpha Nano alumina (Ultra_PB) (Ultra GAP) Gamma Ultra ATH Alumina (Ultra AAP) (Ultra_NAP)
Slide 17: Our Position in the Supply Chain
OUR POSITION IN THE SUPPLY CHAIN Semiconductor OEM’s CMP slurry manufacturers Alpha’s Customers
Slide 18: Short List of CMP Sector Outreach
SHORT LIST OF CMP SECTOR OUTREACH Alpna HPA COMMERCIAL DOMICILE SUMMARY STATUS ‘QUALIFICATION TEST #1 Sane ‘SALES Lol A CMP market leader. + 3 year testwork with Alpha. Currently testing both our alpha- phase nano-powders and our first round of nano—slurries Whi eine Pending Japan/US based, CMP mark
Slide 19: First commercial scale manufacture of 5N purity Al-Nitrate
e First commercial scale manufacture of SN purity ALNitrate e Unlocks dormant Li-ion battery safety technology — anode and cell case coatings e Technical approval from a global Li-B anode OEM after 18 months test work CELL COATING PARTICLE COATING Alpha UltraCoat Alpha UltraCoat ES UNCOATED ALUMINIU
Slide 20: Unique Capability for Direct Lithium Extraction
UNIQUE CAPABILITY FOR DIRECT LITHIUM EXTRACTION e DLE sorbents increasingly made from high-purity alumina-hydrate (Al(OH)3 or ‘ATH’) e = Alpha's unique ability to manufacture high purity ATH as 100% amorphous drives ultra high lithium capacity and sorbent life e _Test-work and commercial demand grow
Slide 21: Where Alpha Holds a Clear Technical Advantage
WHERE ALPHA HOLDS A CLEAR TECHNICAL ADVANTAGE Alpa HPA SECTOR » SEMICONDUCTOR DLE LITHIUM-ION BATTERY ri USE Alumina abrasives for polishing silicon carbide substrates (Si-C) Alumina and ATH materials as spherical ‘heat sinks’ to manage ATH (Al(OH), as a precursor to High purity Al-Nitrate as coatin
Slide 22: Stage 2 DFS: Strong Financial Metrics
STAGE 2 DFS: STRONG FINANCIAL METRICS HPA First Project Stage 2 Steady-state Financials (does not include Alpha Sapphire) First Project Stage 2 Production volume ramp up (tpa) DFS - May 2024 Key Project Metrics at Steady State (10,430 tpa) Alpha HPA Price Discovery Case 10,000 -— uss** Annual Revenu
Slide 23: Global Marketing, Sales Agents and Intermediaries
Global Marketing SALES AGENTS & INTERMEDIARIES AUSTMIN e Extensive agent and advisory network | CHINA e Detailed, technically driven understanding of market and applications APL MATERIALS JAPAN Ya AM&M. a NORTH EAST ASIA . TECHNOLOGICA EU Alpha HPA Market Discovery Pricing Product DFS (May 2024) Upd
Slide 24: Product Marketing Progression
PRODUCT MARKETING PROGRESSION FORECAST @ Test/Qualification samples (LHS) @ Letters of Intent or equivalent (RHS) Sales and/or binding contracts (RHS) ) Sales & bindingcontracts 2025/26 Metric To! Metric Tonnes Stage 2 FID Stage 1 Commences 3 a E 3 < o & 2 E g a c sg 3 2 5 3 o S Py & a E g a . 3 2 2
Slide 25: Strategic Investment and Financing Milestones
5% Strategic Commence Definitive Investment & Supported Supported Technical Commercial North American Alpha Sapphire FID Stage 2 Raising Diligence Agreements MoU Raising A$40M A$180M ⚫ ⚫ ⚫ ⚫ ⚫
Slide 26: Alpha Sapphire
ALPHA SAPPHIRE: * GaN-on-Sapphire requires wide-format (8”), C-plane wafers * Ideally suited to Alpha’s investment in next generation wide-format growth technology © Alpha SAPPHIRE 2 i B , Alpha's Sapphire Growers Complete C-Axis Sapphire Boule Sapphire Wafer Alpha HPA Ultra Pucks * Qualification Un
Slide 27: Analytics, QA/QC and Certification
ANALYTICS, QA/QC AND CERTIFICATION Dedicated to quality with full spectrum in-house analytical support SUSTAINABILITY RATING ALPHA HPA LTD (GROUP) Overall score SYDNEY - Australia | Manufacture of other non-metallic mineral ” 71/100 products EVID: NI965574 7” 94th PERCENTILE of (ain ai O Overall sco
Slide 28: World Leading Sustainability
WORLD LEADING SUSTAINABILITY 50-70% LOWER CO, EMISSIONS OVER INCUMBENT (ALKOXIDE PROCESS) | Scope 1&2 Lo] Scope 3 with credits 12 10 8 ° Q 4 2 = moa ° 013 Alpha phase High Purity High Purity High Purity High Purity Gamma phase High Purity Aluminium Boehmite Aluminium Aluminium High Purity Alumina Ni
Slide 29: Timeline
TIMELINE “em Key milestones in Alpha’s development journey 2021 2021 ‘Apr-2022 Jun-2025 Chemical supply and Project site secured in Approval of A$15.5m_ Credit approval for >60% of Stage 2 offtake agreements QLD and construction Federal Government A$400m Australian, coverage under signed with Orica
Slide 30: Key Management
KEY MANAGEMENT Alpha’s key management team has a combined 100+ years of experience and technical expertise Rob Williamson Managing Director Rob is a mechanical engineer with over 25 years experience in large- scale facility operations, major project, startups, and executive leadership. He joined Alp
Slide 31: Corporate Snapshot
CORPORATE SNAPSHOT TRADING INFORMATION ASX CODE A4N Share Price (19/09/2025) A$0.90 52-week trading range A$0.64 — $1.18 Issued Shares 1137M CAPITAL STRUCTURE Issued Shares 1137M Performance Rights 10.2M Market Cap ~AS$IB Est Cash (30/06/2025) ~A$103M Enterprise Value A$927M SHARE PRICE PERFORMANCE
Slide 32: Thank You
THANK YOU Rob Williamson Managing Director +61 408 414 474 Rimas Kairaitis Executive Director and Chief Commercial Officer +61 407 125 176 Robert Lord Investor Relations +61 400 008 553 Alpha HPA