Alpha HPA (A4N) Investor Presentation summary

Strategic vision and project overview

• Aims to become a global leader in high purity aluminium materials for high-tech sectors, leveraging a proprietary, low-carbon process and a two-stage commercialization strategy with Stage 1 in production and Stage 2 under construction in Gladstone, QLD, powered by 100% renewable energy.

• Stage 2 targets full-scale production of 10,430 tpa by 2026, with ramp-up to steady-state by FY30.

• Receives strong government support, including $21.7M Queensland grant, $45M federal grant, $320M loan, and $80M cost overrun facility.

Technology, process, and product portfolio

• Utilizes a low-cost, low-energy, solvent extraction process that does not use aluminium metal feedstock, resulting in significant cost and carbon reductions.

• Product range includes ultra-high purity alumina (4N–5N), aluminium nitrate, boehmite, alumina trihydrate, nano-alumina, and sapphire glass, targeting lithium-ion batteries, LEDs, semiconductors, and specialty ceramics.

• Proprietary Ultra Coat process enables high-purity coatings for battery safety, reducing thermal runaway and improving cell casing integrity.

• First global manufacturer of large-volume, high-purity aluminium nitrates, supporting key battery safety technologies.

Market positioning, demand, and financials

• Extensive global market outreach with over 220 test samples sent to 125+ end users; LOIs in place for ~22% of Stage 2 capacity.

• Strong demand from lithium-ion battery, LED, and semiconductor sectors, with B2B pricing protected from index volatility.

• Stage 2 steady-state financials project annual revenue of A$359M–A$509M, EBITDA of A$255M–A$403M, and pre-tax free cash flows of A$251M–A$399M by FY30, with EBITDA margins of 71%–79%.

• Production costs are significantly below incumbent peers, supporting a strong competitive position.