ALPHA HPA LIMITED — Capital/Financing Update 2021

Nov 4, 2021

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The Manager Companies - ASX Limited 20 Bridge Street Sydney NSW 2000

ASX: A4N ASX Announcement 5 November 2021 (2 pages)

HPA FIRST PROJECT UPDATE PROJECT APPROVAL, LAND SETTLMENT AND COMMENCEMENT OF PPF SITE WORKS

The Board of Alpha HPA Limited (‘Alpha’ or ‘the Company’) is pleased to provide 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) which is scheduled to commence commercial production in Gladstone, Queensland, for the Company’s high purity aluminium precursors from August 2022. The Company is concurrently closing out the remaining conditions precedent to the full-scale Project Final Investment Decision, with a focus on product sales and offtakes and Project financing.

Amended State Govt Approval Received

Alpha has now received approval from the Queensland State Government for the change application on the HPA First Project site, within the Gladstone State Development Area (GSDA). This amended approval represents the State Government approval for the both the Stage 1 PPF and the Stage 2 full-scale facility on the same site .

Land Settlement

With the GSDA change approval received, Alpha and the Minister for Economic Development, Queensland (MEDQ) have satisfied or waived the remaining conditions precedent to the purchase and settlement of the HPA First Project site at 53 Reid Road, Yarwun.

Alpha will take land possession on 5 November 2021, securing the land parcel for both the PPF and the full-scale HPA First Project.

Commencement of Earthworks

Alpha will be mobilising earthmoving contractors to the HPA First Project site shortly after land settlement to commence earthworks ahead of site civils required for the PPF.

MD Rimas Kairaitis commented, “Alpha is delighted to have received the updated approvals, to have secured the land parcel for both stages of the HPA First Project and to be commencing site works. These are each further exciting milestones for the Company.”

Alpha HPA Limited | ABN 79 106 879 690 | Level 2, 66 Hunter Street Sydney, NSW 2000 Phone: +61 2 9300 3310 | Facsimile: +61 2 9221 6333 | www.alphahpa.com.au

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HPA Project Site, Gladstone Queensland

About the HPA First Project

The Company’s HPA First Project represents the commercialisation of the production of ~10,000tpa equivalent of high purity alumina (HPA) and related high purity precursor products using the Company’s proprietary licenced solvent extraction and HPA refining technology. The disruptive, low-carbon process technology provides for the extraction and purification of aluminium from an industrial feedstock to produce 4N (>99.99% purity) alumina and 5N (>99.999% purity) for sale into the lithium-ion battery and LED lighting industry.

Alpha completed a Definitive Feasibility Study in March 2020 following a successful pilot plant campaign in 2019. Alpha has since upscaled its Brisbane facility to demonstration scale and has now recorded over 3,500 operating hours and delivered an expanded range of over 8-0 high purity product orders to end-users globally.

Alpha is fully funded to the commercial production at its Stage 1, Precursor Production Facility which is scheduled to commence commercial production for the Company’s high purity Aluminium Precursors from August 2022.

The Company is now in the mature phases of market outreach and project financing with respect to the full scale HPA First Project, with the expectation of positioning the HPA First Project to Final investment Decision.

For further information, please contact:

Rimas Kairaitis Managing Director rkairaitis@alphaHPA.com.au +61 (0) 408 414 474

Cameron Peacock

Investor Relations & Business Development cpeacock@alphaHPA.com.au +61 (0) 439 908 732

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