Quarterly Activities/Appendix 4C Cash Flow Report

• Strong engineering and construction progress on HPA First Project Stage 2
• Exceeded 12,000 tonnes in non-binding Letters of Intent (LOI)
• Forecast demand for HPA and ATH products exceeds 50,000 tonnes per annum by 2030
• Rapidly expanding AI/semiconductor sector positively impacting HPA material demand
• Continued sapphire sales to the sapphire optics sector

Alpha HPA Limited's quarterly activities report highlights significant advancements in the HPA First Project Stage 2, including strong engineering and construction progress. The company has exceeded 12,000 tonnes in non-binding Letters of Intent (LOIs) for its products. The forecast demand for high purity alumina (HPA) and high purity alumina hydrates (ATH) products now exceeds 50,000 tonnes per annum by 2030, driven by the rapidly expanding AI/semiconductor sector. Alpha's unique capabilities in ultra-high purity materials are positively impacting its material demand, particularly for thermal fillers and semiconductor ceramics. Additionally, the company continues to expand its sapphire sales to the sapphire optics sector, focusing on 'low carbon' sapphire.