Alkemy Capital Investments (ALK) investor relations material

Executive summary

• Tees Valley Lithium (TVL) completed FEED for Train 1, relocated the project to Billingham and advanced partner, feedstock and site work during H1.

• After period end, TVL received an offer in principle for up to £18.3m of non-dilutive DRIVE35 grant funding, subject to due diligence and a final grant agreement.

• H1 net loss was £1.313m versus £1.132m in H1 2026; Train 1 remains the priority as further project funding is pursued.

Financial highlights

• Loss before and after tax was £1.313m in H1 2027, compared with £1.132m in H1 2026; no income tax was recorded.

• Total comprehensive loss was £1.316m, including £2,077 of foreign exchange losses, versus £1.118m comprehensive loss in H1 2026.

• Cash and cash equivalents were £146,622 at 31 July 2026, down from £723,117 at 31 July 2025 and £153,286 at 31 January 2026.

• Project development intangible assets were £4.071m at 31 July 2026, up from £3.758m at 31 January 2026.

Outlook and guidance

• The Board is progressing the remaining Train 1 funding package alongside grant due diligence; the prior Q1 2026 FID expectation shifted following the Billingham site move and slower grant process.

• The Board intends to step up battery-grade graphite processing work through Tees Valley Graphite and assess manganese, while keeping Train 1 as the first priority.

• Directors expect funding to be secured as required and consider continued operations reasonable for the next 12 months, while acknowledging material going-concern uncertainty.