The Board of Alpha HPA Limited provided an update on project activities for its HPA First Project, representing the commercialisation and production of critical high purity aluminium products driving de-carbonisation. The Company's Stage 1, Precursor Production Facility (PPF) in Gladstone, QLD is now being commissioned. The Company is concurrently satisfying the remaining conditions precedent to the full-scale Project Final Investment Decision (FID), with a focus on product sales, offtakes and project financing.

STAGE 1 ­ PPF: First reagent deliveries from Orica: The Stage 1 PPF has successfully received and offloaded the first bulk reagent chemicals from Orica, allowing for commencement of chemical commissioning. Chemical commissioning commenced: Process chemicals have now been introduced to the plant, including Orica chemicals, solvent extraction chemicals and aluminium feedstock from Rio Tinto. Aluminium extraction has commenced, with the tenor of extracted aluminium steadily building concentration to enable the commencement of the crystallisation circuit next week.

All plant utilities and common reagent services are now in operation in support of chemical commissioning. Product Marketing: HPA delivery to sapphire glass counterparty in the EU: Alpha has delivered a large (100kg) test sample order of high-density (+3.5 g/cm3), HPA (>99.995%) as sintered tablets to an EU based sapphire growth counterparty as part of final qualification. Supply bid prices accepted for HPA to Japan-based chemical company: Following successful qualification of Alpha's nano-HPA with a Japanese based chemical company which manufactures specialist materials for the LED sector, Alpha has been notified its supply pricing has been accepted and the parties are now moving to sales contract documentation.

Initial product volumes are modest, with an upper 10Mt per annum, however the application is for a premium product, with pricing at the top-end of the Definitive Feasibility Study (DFS) pricing scenarios. Al-sulphate orders for cathode manufacture: Alpha has received and delivered additional high purity aluminium sulphate test orders for a large lithium-ion cathode manufacturer. Supply bids submitted for semiconductor users: Within the last week Alpha has successfully delivered multiple product test orders for high purity boehmite, nano-alumina and high purity aluminium nitrate to end users within the semi-conductor sector.

Each of these products are used in polishing slurries for semi-conductor substrates (CMP polishing). On request, supply bid pricing has been submitted to a large North American based end-user. Additional sales of Al-nitrate and HPA powders: The Company has placed further small volume high value sales for Al-Nitrate (6kg @ USD 350/kg) and HPA powder (10kg @ ¥95,000/kg) to research end-users.

These sales are expected to continue and assist in the development of longer-dated research-linked markets. First test orders for new high purity Al(OH)3 product: In response to multiple end-user requests, Alpha has now successfully developed a process for the manufacture of a >99.99% (4N) purity aluminium tri-hydrate (`ATH' or Al(OH)3). The first test order for high purity ATH has been manufactured in Brisbane and will be shipped at end of this week.