• Significant progress on HPA First Project Stage 2 construction
• Conversion of LOI to binding supply contract for semiconductor thermal fillers
• Record semiconductor sector shipments in December 2025

Alpha HPA Limited has provided an update on its activities for the quarter ended 31 December 2025. Key highlights include significant progress across critical workstreams for the construction and delivery of Stage 2 of the HPA First Project, including the delivery of large-scale, offsite fabricated process equipment, ongoing civil works, and the mobilization of the first Structural, Mechanical and Piping (SMP) installation contractor. The company also reported on its product marketing efforts, including the conversion of a Letter of Intent (LOI) into a binding CY2026 supply contract to a South Korean customer for thermal fillers in HBM chip packaging, and the negotiation of further CY2026 supply contracts to Japanese customers. Alpha recorded record semiconductor sector shipments in December 2025 and received positive feedback from industry events such as SEMICON Japan, confirming strong demand and pricing environment for its products. The company also reported progress in its Alpha Sapphire project and corporate funding from the QIC Critical Minerals and Battery Technology Fund.

Alpha HPA reported that the contracts under negotiation exceed its Stage 1 supply capacity, and the company is reviewing initiatives to manage capacity allocation and increase Stage 1 capacity in response to existing and expected demand during CY2026 and CY2027.