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. Alpha is fully funded to commercial production at its Stage 1, Precursor Production Facility (PPF) in Gladstone, QLD, which has now commenced commissioning ahead of production of the Company's high purity Aluminium Precursors. The Company is concurrently satisfying the remaining conditions precedent to the full-scale Project Final Investment Decision, with a focus on product sales, offtakes and project financing.

Mechanical completion and start of commissioning The installation of all mechanical equipment is now complete and the mechanical completion certificate has been issued by the SMP (Structural, Mechanical and Piping) installer. Electrical and instrumentation (E&I) installation is close to completion. Commissioning activities have now commenced as summarised below: Process control and equipment testing The process control system is now installed and under commissioning including staging valves, test running electrical equipment including filter presses and bump testing of agitators and pumps.

Process utilities testing The following process utilities have now been test run and vendor commissioned: Main air compressor; Demineralised water system; Cool water/chiller and cooling fan; Hot oil system; Fume extraction and scrubber system. Additionally, filling of the LPG tank has commenced and first reagent deliveries are scheduled for mid-October. Hydrostatic testing; Hydrostatic (water) testing and pneumatic testing of all major vessels and piping is complete.

Administration and lab buildings Installation and certification of administration and laboratory buildings is complete and now formally occupied by the Alpha operations team. The operations team has now moved to 24/7 shift operations and finalising training, plant inspections and testing. Other site activities Other site activities include: Security fence and gate installed; Fire tanks filled and pump system tested and commissioned; Final landscaping underway.