Impact Minerals (IPT) Investor Update summary

Strategic acquisitions and project updates

• Acquired 50% of Alluminous, owner of HiPurA, for AUD 2.2 million, accelerating HPA production capabilities and providing a near-complete pilot plant and high-purity laboratory.

• Lake Hope project holds a measured resource of 189,000 tons of alumina, with a total of 700,000 tons, supporting a potential 50-year mine life.

• Mining lease and environmental surveys are progressing, with strong engagement from local Ngadju stakeholders and minimal environmental impact expected.

• Federal grant of AUD 2.87 million supports a collaborative pilot plant project with Edith Cowan University and CPC Engineering, focusing on sustainable HPA production.

• Plans to establish a North American production base and pursue further scaling and commercialization by 2027.

Market positioning and industry outlook

• HPA market is experiencing 20% compound annual growth, with a looming supply deficit expected in the next few years.

• Demand for high-purity alumina is driven by LEDs, semiconductors, and electric vehicle batteries, with 4N purity (99.99%) as the main commercial focus.

• Current cost curve analysis positions the company as a potential lowest-cost producer, with operating costs expected below $7,000–$8,000 per ton.

• Benchmark production target is 10,000 tons per annum, aligning with industry leaders and market demand.

• Modular plant design enables scalable production and easier financing, reducing reliance on large offtake agreements.

Operational advancements and technology

• HiPurA acquisition brings a nearly complete pilot plant and advanced laboratory, enabling rapid assay turnaround and client engagement.

• Process innovations include alkaline leach with potash byproduct and membrane technology for acid regeneration and zero-discharge operations.

• Collaboration with membrane technology experts aims to enhance sustainability and reduce costs across the process flowsheet.

• In-house expertise from former Alcoa professionals and experienced engineering teams underpins project development.

• Pilot plant commissioning and product qualification are targeted within the next 3–6 months, with commercial production ramp-up planned for 2025–2026.