Quarterly Report March 2024

Excellent Progress on ABS60 60kWh CERENERGY® Battery Prototypes

• Excellent progress with two 60 kWh battery pack prototypes
• Pilot plant re-design at Fraunhofer IKTS Hermsdorf for prototype manufacture
• All prototype materials have been procured from suppliers
• Ceramic tube manufacture is 50% complete
• Cell assembly progressing well with more than half completed
• Low reject and defect rates experienced
• Two battery vacuum casings delivered and undergoing heat loss testing
• Finalisation of prototypes will be mid 2024

Excellent Definitive Feasibility Study for 120 MWh First Production Line CERENERGY® Battery Project

• Highly positive Definitive Feasibility Study (DFS) – 120 GridPacks (1MWh) pa
• Capital cost estimated at €156 million with excellent project economics
• Pre-tax Net Present Value (NPV9) of €169 million
• Attractive Internal Rate of Return (IRR) of 19%
• Steady state payback period is 3.7 years, with Annual Revenue of €106 million per annum
• EBITDA of €51 million or margin of around 47%
• Altech Board Decision to Proceed to Funding Phase
• Low lifetime levelised cost of storage €0.06/kWh vs lithium- ion batteries at €0.149/kWh
• Grid energy storage market projected to grow by 28% CAGR
• Grant funding applications underway
• Equity and mezzanine financing discussions in progress
• Offtake for 5 years production in progress

Update on Silumina AnodesTM Project

• All equipment now received for the plant construction
• Commissioning of plant areas underway
• Non-disclosure Agreements signed for commercial samples with global automobile and battery supply chain companies
• Project includes robust economics including an NPV(10) of €684 million

Investor Presentation

• CEO Iggy Tan recently presented at the RIU Conference held in Fremantle, Australia
• Shareholders are invited to view a recording of the presentation at the following website link

https://investorhub.altechgroup.com/activity-updates/altech- riu-presentation-february-2024-iggy-tan

Click here for the full ASX Release

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