Amaero Inc. has completed the commissioning of its 3rd advanced Electrode Induction Melting Inert Gas Atomizer (EIGA Premium) ahead of schedule at its flagship Tennessee manufacturing facility. This expansion increases the company's annual production capacity to approximately 200 tons for refractory alloys and approximately 480 tons for titanium alloys, solidifying its position as the largest capacity U.S. domestic producer of spherical refractory and titanium alloy powders. The enhanced capacity is designed to meet growing demand from the defense, space, aerospace, nuclear, and medical industries.

Capital Investment and Capacity

The completion of the 3rd atomizer marks the end of Amaero's 3-year, A$72 million capital investment plan, which was finalized on schedule and on budget. The company now operates three EIGA atomizers, with one dedicated to refractory alloys and two dedicated to titanium alloys. This infrastructure supports Amaero's role as a leading U.S. domestic PM-HIP (Powder Metallurgy Hot Isostatic Pressing) manufacturer of near-net-shape critical components.

Safety and Production Restart

In collaboration with Jensen Hughes, a global leader in safety and risk-based engineering, Amaero conducted a comprehensive review of process, system, and facility safety. Following safety incidents in May, titanium powder production was paused to implement planned remediation and improvements. The company anticipates that titanium production will restart in July, maintaining a 'safety first' approach while working to resume supply quickly.

Future Expansion and Corporate Moves

Amaero has expanded its capital investment plans to accelerate growth, including the installation of a 4th EIGA atomizer scheduled for June 2027 and an Argon recycling plant set for commissioning in 1Q CY2027. Additionally, the company has completed its re-domiciliation to the United States ahead of schedule. This move positions Amaero for a potential U.S. initial public offering and listing in late CY2026 or early CY2027, subject to equity capital market conditions. A PCAOB audit with BDO USA is proceeding on schedule.

Amaero Ltd has announced that its schemes of arrangement to re-domicile to the State of Delaware in the United States have become effective. An office copy of the orders made by the Federal Court of Australia approving the schemes was lodged with the Australian Securities and Investments Commission (ASIC) on June 11, 2026. Consequently, Amaero shares were suspended from trading on the ASX at the close of business on June 11, 2026.

The Federal Court of Australia, per Justice Owens, approved the scheme of arrangement between Amaero and its shareholders, as well as the scheme between Amaero and its option holders, on June 10, 2026. The orders were made pursuant to section 411(4)(b) of the Corporations Act 2001 (Cth). The company was also exempted from compliance with section 411(11) of the Corporations Act in relation to the approved schemes.

Implementation Timetable

The re-domiciliation process follows a strict schedule leading to the implementation of the schemes. Amaero US HoldCo CHESS Depository Interests (CDIs) are scheduled to commence trading on a deferred settlement basis on June 12, 2026. The record date for determining entitlements to the consideration under the schemes is set for 7:00pm (Sydney time) on June 15, 2026.

Waiver and Option Cancellation

To facilitate the re-domiciliation, the Australian Securities Exchange (ASX) previously granted Amaero a waiver from Listing Rule 6.23.2 on June 9, 2026. This waiver allowed the company to cancel 107,295,119 options without separate shareholder approval. The options were cancelled in exchange for the grant of options in Amaero US HoldCo, replacing the entitlement to receive one Amaero ordinary share with an entitlement to receive one CHESS Depository Interest conferring a beneficial interest in 1/40th of a share of common stock in Amaero US HoldCo.

The ASX confirmed the waiver was standard in accordance with ASX Guidance Note 17. The implementation of the schemes on June 22, 2026, marks the completion of the company's transfer of domicile to the U.S.