Q1 FY25 – Quarterly Activities and Appendix 5B Cash Flow Report

Report Highlights:

• Altech Batteries has completed its CERENERGY® 60kWh prototype, which is now fully operational and undergoing rigorous daily testing at the Dresden test station in Germany. The prototype has surpassed early performance expectations, demonstrated excellent efficiency and robust performance, while maintained safe, stable operating temperatures. The ongoing testing is providing critical performance data for off-take parties and indicates strong potential for large-scale commercial production in line with the specifications that have been published.
• Altech secured its first Offtake Letter of Intent for CERENERGY®, with the Schwarze Pumpe Industrial Park Association committing to an annual purchase of 30MW/h of 1MWh CERENERGY® GridPacks for the first five years of production. These GridPacks will be used in transitioning the industrial park from coal-based power to renewable energy sources. The advanced CERENERGY® GridPack storage solution will be integrated, with deliveries expected to start by mid-2027 or when the industrial plant is ready to begin operations.
• Altech launched an $8.5 million pro-rata Entitlement Offer to existing eligible shareholders, partially underwritten by major shareholder MAA Group Berhad for $5 million, along with an additional $405,000 raised from sophisticated and professional investors. Shareholders who participated in the Offer received free attaching options, with 1 option granted for every 2 new shares, exercisable at $0.06 on or before 31 December 2025. The raised funds will be directed toward advancing the CERENERGY® and Silumina Anodes™ Projects.