They're like the Intel of advanced metal 3D printing, providing ultra-pure 'ingredients' (metal powders) and specialized manufacturing for critical components in defense and aerospace.

Think of them as a Hexcel for advanced metal components, specializing in ultra-pure metal powders and large, complex parts for mission-critical defense and aerospace applications.

• High-purity Spherical Metal Powders: These are refractory and titanium alloy powders, produced using EIGA technology, specifically engineered for additive manufacturing applications like laser powder bed fusion 3D printing.
• PM-HIP Manufactured Components: Large, complex, near-net-shape powder metallurgy parts produced through Powder Metallurgy Hot Isostatic Pressing, offering forged-equivalent material properties for critical applications.

Amaero (AMRO) primarily sells its products and services to other companies. Its major identified customers and strategic partners include:

• ADDMAN Group
• Velo3D (NASDAQ: VLD)
• Titomic Limited (ASX: TTM)

Hank J. Holland, Executive Chairman & CEO

Hank J. Holland is the Executive Chairman and Chief Executive Officer of Amaero Inc.. He has been instrumental in reshaping Amaero's corporate strategy, relocating the business to the United States, assembling a pioneering team, capitalizing the company, and overseeing the improvements to its manufacturing facility and the commissioning of advanced gas atomization technology. His leadership is focused on reshoring critical manufacturing capabilities and providing advanced materials for defense, space, and aviation industries.

Brett Paduch, Chief Financial Officer

Brett Paduch was appointed Chief Financial Officer of Amaero, effective July 14, 2025. He brings over two decades of financial leadership experience from technology, industrial, and public accounting environments. His expertise encompasses strategic financial planning, M&A transactions, revenue operations, and finance integration. Prior to Amaero, Mr. Paduch served as Chief Financial Officer of a private equity-backed technology company and also held senior finance roles at a NASDAQ-listed industrial group and another private equity-backed company. He spent 11 years with PwC LLC, where he was Lead Global Audit Senior Manager for Ingersoll Rand. His role at Amaero is crucial for establishing robust financial planning, analysis, and controls to support the company's growth trajectory in the U.S..

Eric Bono, Chief Technical Officer

Eric Bono serves as Amaero's Chief Technical Officer. He possesses extensive experience and relationships within powder metallurgy and additive/alternative manufacturing. Over a career spanning more than 28 years, Mr. Bono has held leadership positions in technical and sales functions for various industry leaders, including 6K, Carpenter Technology, Puris, Summit Materials, and Crucible Research. He works closely with Hank Holland on corporate strategy, capital markets, FP&A, and strategic relationships.

Mick Maher, Chief Strategy & Commercial Officer

Mick Maher joined Amaero as Chief Strategy and Commercial Officer in January 2025. In this capacity, he is responsible for overseeing the development and execution of the company's revenue-generating activities and strategic direction. Before joining Amaero, Mr. Maher founded Maher & Associates LLC in September 2016. He has served on several corporate and technical advisory boards, including the National Academies' National Materials and Manufacturing Board, and was a founder and Chief Technology Officer for the non-profit Applied Science and Technology Organization of America (ASTRO).

Melissa Denton, Chief Administrative Officer

Melissa Denton is the Chief Administrative Officer for Amaero Inc..

Key Risks to Amaero (AMRO)

1. Heavy reliance on U.S. government defense spending and national security priorities. Amaero's business is strategically positioned at the intersection of U.S. national security priorities, with key applications in hypersonic weapons systems, satellite propulsion, strategic missiles, and the U.S. Navy’s submarine industrial base. Significant changes in government defense budgets, national security policies, or specific program funding could directly and materially impact the demand for Amaero’s products and services.
2. Market penetration and sustained commercial adoption in specialized additive manufacturing and PM-HIP sectors. The company is in a transition phase, moving "from onshoring our manufacturing facilities to revenue growth and margin expansion" after a substantial capital investment. Achieving consistent and expanding revenue growth relies on successfully penetrating and securing sustained commercial adoption within niche, high-value advanced manufacturing sectors, which may face inherent challenges regarding the pace of adoption, competition from established manufacturing methods, or securing long-term contracts beyond initial partnerships.
3. Potential for technological obsolescence or emergence of superior competing technologies. Amaero's competitive advantage is partly based on its unique EIGA Premium configuration, which it states is the "only such system operating in the United States." However, the advanced manufacturing and materials science industries are characterized by rapid innovation. The development of new, more efficient, or cost-effective methods for producing high-purity metal powders or manufacturing large near-net-shape components could diminish the competitive edge of Amaero's current technology and processes.

Metal Powders for Additive Manufacturing

• The global additive manufacturing with metal powders market was valued at approximately USD 650.8 million in 2025 and is projected to grow to USD 2.9 billion by 2035.
• In North America, the additive manufacturing with metal powders market was valued at USD 224.23 million in 2025 and is projected to reach USD 864.40 million by 2035. The United States accounts for more than 80% of North American activity in this market.
• Specifically for titanium alloy powders, which are a key offering, the alloy powders category within the global additive manufacturing with metal powders market was valued at USD 196.72 million in 2025 and is projected to reach USD 819.46 million by 2035. The broader global titanium metal powder market was valued at USD 323.9 million in 2025 and is projected to grow to USD 900.9 million by 2033. North America held the largest revenue share of 33.8% in the global titanium metal powder market in 2025.

Powder Metallurgy Hot Isostatic Pressing (PM-HIP)

• The U.S. Isostatic Pressing Market revenue was USD 1.7 billion in 2024 and is expected to reach USD 3 billion in 2032, growing at a Compound Annual Growth Rate (CAGR) of 7.5% from 2025 to 2032.
• The global Hot Isostatic Pressing (HIP) market was valued at USD 705.4 million in 2025 and is projected to grow to USD 1,087.7 million by 2033. North America accounted for the largest revenue share of 39.1% in the global hot isostatic pressing market in 2025.

Amaero (AMRO) is expected to experience future revenue growth over the next 2-3 years driven by several key factors:

• Monetization of Capital Investments and Manufacturing Scale-Up: Having completed a three-year capital investment program exceeding $45.0 million, Amaero is transitioning from facility onshoring to a phase focused on revenue growth and margin expansion. This suggests that the significant prior investments are now poised to yield increased production and sales.
• Growing Demand in National Security and Advanced Manufacturing Sectors: The company's specialized high-purity spherical metal powders are engineered for mission-critical components in rapidly expanding sectors such as hypersonic weapons systems, satellite propulsion, strategic missiles, aerospace, and medical applications. Amaero's strategic alignment with U.S. national security priorities and the domestic reshoring of supply chains further positions it to capitalize on increasing demand in these high-value markets.
• Expansion of PM-HIP Manufacturing for Large Near-Net-Shape Components: Amaero's Powder Metallurgy Hot Isostatic Pressing (PM-HIP) manufacturing process addresses critical bottlenecks in the supply chain for large-scale castings and forgings, particularly relevant to the U.S. Navy’s submarine industrial base. This capability offers a technically mature and scalable alternative, indicating significant potential for revenue growth as it helps meet unfulfilled demand for large components.
• Leveraging Strategic Partnerships and Long-Term Agreements: Amaero has secured exclusive or preferred supplier arrangements and long-term supply and strategic development agreements with key industry players like ADDMAN Group, Velo3D, and Titomic Limited. These established partnerships are expected to drive consistent order flow and expand market reach, contributing to sustained revenue growth.

• In August/September 2025, Amaero completed an institutional placement, raising A$50 million, and a share purchase plan, raising approximately A$470,000, for a combined total of approximately A$50.47 million.
• Amaero Inc. is planning an Initial Public Offering (IPO) on Nasdaq, aiming to raise approximately $52.6 million by offering 7,456,500 shares, with the IPO expected around September 22-23, 2026.
• Prior to the August 2025 placement, Amaero had raised A$98.5 million through cumulative equity capital raises since May 2022.

• In January 2025, the Export-Import Bank of the United States (EXIM) approved a direct loan of US$23.5 million to Amaero's US operating subsidiary for capital equipment financing.
• In June 2026, the EXIM Bank Credit Agreement was amended, increasing the total commitment by US$3.3 million, bringing the total to US$26.1 million in non-dilutive capital.
• Pegasus Growth Capital, a private equity firm, holds approximately 30% of Amaero's shares, with its principal, Hank J. Holland, personally funding about half of that position through various share acquisition methods.

• Amaero completed a three-year capital investment program by June 30, 2026, which involved investments of A$72 million.
• By December 2025, approximately A$57 million of the A$72 million capital plan had been invested.
• These capital expenditures were primarily focused on commissioning a third EIGA Premium Atomizer, significantly expanding titanium powder production capacity, and improving manufacturing facilities. Future plans include ordering a fourth EIGA Premium Atomizer for commissioning in June 2027 and an argon gas recycling plant for commissioning by early 2027, with an estimated cost of approximately A$6 million.