NH3 Clean Energy Limited · ASX:NH3
NH3 Clean Energy — Investor Presentation (June 2025)
22 slides from NH3 Clean Energy's investor presentation, Jun 13, 2025
Slide 1: Fueling the Future: WAH2 Project Update
For personal use only Fueling the Future WAH2 Project Update June 2025 © 2025 NH3 Clean Energy (ASX:NH3) © 2025 NH3 CLEAN ENERGY (ASX: NH3) 1
Slide 2: Important Notices
Important Notices For personal use only DISCLAIMER The purpose of this presentation is to provide background information to assist in obtaining a general understanding of the Company’s proposals and objectives. This presentation may contain some references to forecasts, estimates, assumptions and ot
Slide 3: Why WAH2 is the leading clean ammonia project in Australia
Why WAH2 is Globally competitive supply – Competitive advantages enabled the leading through choice of technology and unique project location For personal use only clean ammonia De-risked execution – Keeping it simple, using existing infrastructure in collaboration with leading industry partners pro
Slide 4: How WAH2 continues to build momentum whilst other projects fall away
How WAH2 continues to build momentum whilst other projects fall away For personal use only Balancing significant emissions Making investment decisions in reduction and commercial viability uncertain environment Aligning low emissions to customer Establishing early partnerships, evolving needs (inten
Slide 5: Agenda
Agenda For personal use only Market update WAH2 progress Valuation Way forward © 2025 NH3 CLEAN ENERGY (ASX: NH3) 5
Slide 6: Clean ammonia emerging as the frontrunner to decarbonise heavy shipping
Clean ammonia emerging as the frontrunner to decarbonise heavy shipping For personal use only IMO driving global reduction in Clean ammonia competitive with shipping emissions conventional fuels IMO GHG Fuel Intensity Reduction Trajectories 1 TCO2 for the lowest cost compliance options 100 HFO 90 80
Slide 7: Large number of vessels support the Pilbara to Asia minerals trade route
Large number of vessels support the Pilbara to Asia minerals trade route For personal use only Significant demand forecast for the Pilbara Ammonia Bunkering Demand Projection – Pilbara1 Ammonia-fueled vessel4 orderbook 2.5 (ammonia carriers and bulk carriers) Fuel Consumption of Bulk Carriers 2.0 1.
Slide 8: Agenda
Agenda For personal use only Market update WAH2 progress Valuation Way forward © 2025 NH3 CLEAN ENERGY (ASX: NH3) 8
Slide 9: WAH2 site
WAH2 site For personal use only Multiple CO2 enables lowest sequestration options nearby cost access to Existing existing Existing deepwater port, handles infrastructure corridor provides infrastructure ammonia, no access to port and expansion required multiple CCS options and established providers
Slide 10: Project delivery in collaboration with leading players across the supply chain
Project delivery in collaboration with leading players across the supply chain – all in place For personal use only I NP U T P RO CE SS DIS TRI BUTE Land Site Key Terms Export port Natural gas Agreement (Nov ‘23) Pre-FEED Ammonia Shipment Engineering Engineering MOU (Feb ‘25) Complete (Feb ’25) Indi
Slide 11: Globally competitive supply for powergen
Globally competitive supply for powergen For personal use only NH3CE data room feedback confirms ~US$ 600 /T FoB globally competitive + Australia provides low geopolitical risk, efficient and secure shipping routes + + Significant shipping cost advantage over Fixed price with escalation avoids the U
Slide 12: Globally unique supply for marine bunkering
Globally unique supply for marine bunkering For personal use only No vessel diversions Lower Annual Emissions NewcastleMax (WtW) -@13 knots Round trip Pilbara – China1 100,000 emissions CO2e Tonnes Annual 80,000 • >75% 60,000 Singapore reduction Dampier 40,000 relative to 20,000 HFO in Singapore 0 H
Slide 13: Agenda
Agenda For personal use only Market update WAH2 progress Valuation Way forward © 2025 NH3 CLEAN ENERGY (ASX: NH3) 13
Slide 14: Pre-FEED validates compelling project economics
Pre-FEED validates compelling project economics For personal use only Phase 1 Ungeared Base Case Phase 1 Geared Base Case Combined Ph1+2 Geared Case NPV8 $493 M1 NPV8 $682 M1 NPV8 $1,140 M1 IRR 11.6% IRR 15.6% IRR 15.7% Robust to downsides Infrastructure related opportunities Infrastructure related
Slide 15: Growing disconnect between Company valuation and value of WAH2 Project
Growing disconnect between Company valuation and value of WAH2 Project For personal use only Key Metrics1 at 11/06/25 Shares Outstanding 564,604,785 Market Capitalisation A$20.3 M WAH2 is the most advanced NH3 Share Price1 (01/01/23 – 11/06/25) commercial scale clean ammonia project in Australia Alt
Slide 16: Agenda
Agenda For personal use only Market update WAH2 progress Valuation Way forward © 2025 NH3 CLEAN ENERGY (ASX: NH3) 16
Slide 17: Pre-FEED completed, focusing on FEED, financing and offtake
Pre-FEED completed, focusing on FEED, financing and offtake For personal use only Prefeasibility Basis of Design FID RFSU 2H 2029 Assess Pre-FEED FEED EPC and commissioning FEED Financiers Offtake Advanced Ongoing discussions Ongoing discussions preparations, with financial regarding offtake for pla
Slide 18: FEED: The next stage of project development
FEED: The next stage of project development For personal use only Executing plan for technical scope • Detailed plan in place for delivery of technical scope • Surveys planned to commence Q3 2025, engineering thereafter Maturing Infrastructure opportunities • Pre-FEED results highlighted some additi
Slide 19: Pathways for securing financing progressing
Pathways for securing financing progressing For personal use only FEED Financing Ongoing discussions with variety of groups - evaluating different structures that minimise project dilution • Trading houses – including offtake and structured financing alternatives • Infrastructure and energy funds –
Slide 20: Advancing sales and offtake agreements
Advancing sales and offtake agreements For personal use only Powergen Demand Offtake and sales discussions fall into two categories Offtake agreements key • Trading houses: discussing term-sheet structures with several to securing trading houses which would combine offtake and FEED financing financi
Slide 21: NH3 Clean Energy's WAH2 Project
NH3 Clean Energy’s For personal use only WAH2 Project • Globally competitive • Uniquely positioned • The most advanced commercial-scale clean ammonia project in Australia © 2025 NH3 CLEAN ENERGY (ASX: NH3) 21
Slide 22: Low Emissions Ammonia From Australia to APAC
For personal use only Fueling the Future Low Emissions Ammonia From Australia to APAC For further information contact: Stephen Hall This announcement has been authorised for [email protected] release to the ASX by the Board of NH3 Clean NH3CE.com Energy Ltd. © 2025 NH3 CLEAN ENERGY (ASX: NH3) 22