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Investor Presentation October 2025 NASDAQ: ISPR 1
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Safe Harbor Disclaimer This presentation (this "Presentation") has been prepared by Ispire Technology Inc. (the "Company") and is being presented in reliance on your representation that you are a qualified institutional buyer or an institutional accredited investor as such terms are defined in the federal securities laws. These materials are not an offer to sell, and we are not seeking an offer to buy, any securities of Ispire. Our securities may only be sold pursuant to an effective registration statement filed with the Securities and Exchange Commission orpart. By receiving this information, you expressly agree to maintain the confidentiality of the information herein and to use any such information in accordance with your compliance policies, contractual obligations and applicable law, including federal and state securities laws. No representations, warranties or undertakings, express or implied, are made by the Company or any of its affiliates, advisers or representatives or placement agents as to, and no reliance should be placed upon, the accuracy, fairness, completeness or correctness of the information or opinions presented or contained in this presentation. By viewing or accessing the information contained in this Presentation, you acknowledge and agree that none of the Company or any of its affiliates, advisers or representatives or the placement agents accept any responsibility whatsoever (in negligence or otherwise) for any loss howsoever arising from any information presented or contained in this Presentation or otherwise arising in connection with this Presentation. The information presented or contained in this Presentation is subject to change without notice and its accuracy is not guaranteed. None of the Company or any of its affiliates, advisers or representatives or placement agents make any undertaking to update any such information subsequent to the date hereof except as required by law. This Presentation should not be construed as legal, tax, investment or other advice. This Presentation contains statements that reflect the Company’s intent, beliefs or current expectations about the future. These statements can be recognized by the use of words such as “ expects,”“ plans,” “will,” “estimates,” “projects,” “intends” or words of similar meaning, but the absence of these words does not mean that a statement is not forward-looking. These forward- looking statements are not guarantees of future performance and are based on estimates and information available to the Company, as of the date of this Presentation, and a number of assumptions about the Company’s operations and certain risk factors, including those described in the "Risk Factors" section of the Company's annual report on Form 10-K for the fiscal year ended June 30, 2025 filed with the SEC on September 15, 2025. All statements other than statements of historical fact in this Presentation are forward-looking statements, including but not limited to, the Company’s goals and growth strategies. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations, assumptions, estimates and projections about the Company and the industry. The Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or to changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that its expectations will turn out to be correct, and investors are cautioned that actual results may differ materially from the anticipated results. This Presentation does not constitute an offer to sell or an invitation to purchase or subscribe for any securities of the Company for sale in the United States or anywhere else. No part of this Presentation shall form the basis of or be relied upon in connection with any contract or commitment whatsoever. Specifically, these materials do not constitute a “prospectus” within the meaning of the US Securities Act of 1933, as amended, and the regulations enacted thereunder. This Presentation does not contain all relevant information relating to the Company or its securities, particularly with respect to the risks and special considerations involved with an investment in the securities of the Company. Any decision to purchase the Company's securities should be made solely on the basis of the information contained in the Company's public filings and any prospectus relating to the proposed offering. THE INFORMATION CONTAINED IN THIS DOCUMENT IS BEING GIVEN SOLELY FOR YOUR INFORMATION AND ONLY FOR YOUR USE IN CONNECTION WITH THIS PRESENTATION THE INFORMATION CONTAINED HEREIN MAY NOT BE COPIED, REPRODUCED, REDISTRIBUTED, OR OTHERWISE DISCLOSED, IN WHOLE OR IN PART, TO ANY OTHER PERSON IN ANY MANNER 2
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Key Statistics 15+ Years of R&D Experience Company Overview Ispire (ISPR), a NASDAQ-listed company, is engaged in the research and development, design, sales, commercialization, marketing and distribution of vaping products and its own branded e- cigarettes. 30+ Countries (1) 150+ International Distributors (1) (1) Publicly available SEC filings and company press releases. Note: Financials based on FY ending June 30, 2025. Intellectual Property Over 400 Exclusively Owned & Licensed Patents $127.5M FY2025 Revenue (1) 3
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1 2 3 4 2010 Airflow Adjustable Tank Nautilus (Mini) 2013 2014 Sub-Ohm Tank Atlantis 2015 Tank without Chimney Cleito series 4 4 4 2017 Pod System with Auto-Draw Breeze series 2018 Leak Free and Liquid Isolating Technology Closed System 2020 Cannabis First Dual Coil Vaporizer DuCore 2021 Single-Use Cannabis Vaporizer Disposable 4 1) The technology was developed by a related party, which was 95% owned by our Co- Chief Executive Officer and which is our present supplier. Pursuant to agreements, the technology related to cannabis vaping products was transferred to our wholly-owned subsidiary, and the technology relating to tobacco products is licensed to a wholly -owned indirect subsidiary. G-Mesh Technology • Meshed coil technology ensures uniform heating, outstanding durability, delivering an authentic flavor experience and setting the new standard in vaping technology and performance. I-80 Vapor Filling Device • Industry leading production filling capacity of up to 4,000 fully filled and sealed vapor devices an hour, 10x faster than traditional methods, 2x faster than current automated systems. New Coil Technology with Cleito Tank (1) • Frees up more restriction in the airflow, expands flavor profile and increases vapor production. Technologies Leading the Marketplace High Capacity Self-Sealing Filling Device Ispire I-80 2024 2025 Revolutionary New Vaping Technology G-Mesh 4 Leading Through Technology 4
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5 Revenue by Region (1) 1) Based on total revenue for FY ending June 30th, 2024.
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Strategic Pillars Ispire’s growth strategies focus on the expanding global demand for vaping products, both nicotine and cannabis, while pursuing US PMTA approvals (devices & flavored pods). 1. Proprietary Age-Gating Technology 2. Expansion of Ispire’s Malaysian Manufacturing Operations 3. Calculated Growth of Cannabis Related Vaping Products 4. Continued Development of Core Vaping IP to Sell/Out-License, such as the breakthrough new G-mesh technology. 6
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The Nicotine Vaping Opportunity E-cigarettes and vaping is expected to grow at a CAGR of 13.0% through 2032 to $72.8B as consumers switch to non-combustible forms of nicotine delivery. Growth Drivers of the E-Cigarette and Vape Sector - Seen as a less harmful alternative versus cigarettes. - Taste and flavor options broaden appeal to adult consumers. - Customization options/technology leading improved device performance. Key Market Dynamics - Market fragmented, a large and growing contestable space. - Regulation plays a major role in market development. - Illicit trade a major challenge, filling the gap where flavors are banned. Legal Global Vaping Market USD Bns. CAGR 13.0% (1) (1) Source: Grand View Research (note global market size does not include illicit product sales). E-Cigarette Market Regional Outlook (1) 7
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The US Vaping Market With an estimated legal market size of over $11.0B the US is the largest vaping market in the world but is hampered by product restrictions (flavor bans) and illicit trade. Regulatory efforts to control underage use of vaping products include: - An elaborate and expensive process to launch new products (PMTA). - Bans on flavored products other than tobacco and menthol. - Increasing levels of excise taxation. Leading to: - Adult consumers unable to legally purchase flavored vape products. - Significant loss in tax revenues. - Illicit products represent an estimated 70% - 90% (1) of the total market. (1) Source: Tax Foundation and British American Tobacco estimates. 8
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Premarket Tobacco Product Application (PMTA) A PMTA must be reviewed and approved by the Food and Drug Administration before a new tobacco product can be legally marketed in the United States. Source: US FDA 9 • The PMTA process can take up to 5 years and cost up to $9.0M per item submitted. • Ispire will submit a “device” PMTA based on its ability prevent underage usage of the device. • Ispire’s Pod System PMTA will consist of 4 flavors with others to follow based on market demand.
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IKE - Ispire’s Age Gating Technology IKE’s age gating technology, using a patented blockchain process, provides assurance that the user of a properly equipped vaping device is of legal age in a consumer-friendly manner. - IKE Tech – Joint venture which owns the age gating technology presents own-use and licensing revenue streams. Tokenized Agentic-AI component allows for companies and countries to do advanced population health management. - IKE filed a modular age-gating component PMTA in April 2025 which can be used in all ENDS(1) products via Bluetooth technology. - Age gating is the key to the return of legal flavored vapes to the US market (at least a $30B market now filled by illicit products). - IKE is in discussions with nearly all major tobacco cos. on incorporating age-gating technology into their ENDS devices globally. 10 (1) Electronic Nicotine Delivery Systems
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11 Age-Gating Technology – Possible Revenue Streams IKE Component 1. License to Big Tobacco – $24B legal global vape market. 2. Outright sale to one entity. 3. Use of technology to enter the US vaping market with Ispire’s Pod System 4. Country-by-country mandate for age-gating technology, serving as a toll-taker on top of existing domestic nicotine markets Flavored Pods 1. Enter the US market to compete in the $30B+ flavored vape segment (all currently illegal products). 2. License or sell the approved PMTA products to a current US market participant (similar to NJOY sale to Altria).
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Malaysian Production Malaysian production will allow direct control over its COGS, provide a hedge against tariffs on Chinese products, and support the PMTA process in the US. 12 Phase One - Production commenced February 2024. - 31k sq. feet of production space. - Can operate up to 7 production lines. Phase Two - Production commenced summer 2025. - 136k total sq. feet, 86k of production space. - Total capacity of 61M devices or 107M pods per mo. using up to 70 production lines.
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Cannabis Legalization US Cannabis legalization continues to progress at a state level, however the lack of federal legality presents significant challenges to the industry e.g., lack of banking options, and discriminatory taxes (section 280E). 13
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Cannabis: A Strategic Approach The opportunity for vaporizer hardware is significant with a market expected to grow at a 14.8% CAGR, however, industry dynamics require a calculated approach. 14 • Sales efforts focused on MSO’s (multi-state operators). • Opportunity to utilize Ispire’s “I-80” filling machine to create a razor – razor blade scenario. • Emphasis placed on securing higher levels of deposits lowering the credit risk. • Technological enhancements and Malaysian production to provide a competitive advantage.
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Tuanfang Liu | Co-Chief Executive Officer & Chairman Over 14 years of experience in research and development of the e-cigarette products and quality control management Mr. Liu founded Shenzhen Eigate in 2010 and has served as its Chairman since then. Mr. Liu is responsible for daily operations and research and development of the e-cigarette and cannabis vaporizer technology products. Mr. Liu holds doctorate degrees in Business Management from Victoria University School of Management in Switzerland and EuroPort Business School in the Netherlands, respectively. ▪ 20+ years of experience as CEO, COO, and President. Approximately 12 years of internet technology and e- commerce experience. ▪ Mr. Wang served as the President, COO and Co-CEO of The Pharm/Sunday Goods (located in California and Arizona), a vertically integrated leader in the cannabis cultivation, processing, manufacturing, distribution, wholesale, and retail industry between 2018 to 2020. ▪ Mr. Wang received Bachelor of Science and Master of Science degrees in Aerospace Engineering in 1983 and 1985 respectively and received an MBA in Finance and General Management from the University of Chicago’s Booth School of Business in 1992. Experienced Management Team Michael Wang | Co-Chief Executive Officer Mr. Yu has served as the Company's Vice President of Finance since June 2023 and is a seasoned accounting professional with extensive experience in public accounting and audit roles. Mr. Yu held public accounting roles at Crowe Horwath (Hong Kong) CPA. from 2009 to 2012 and DA HUA CPA from 2012 to 2016. Mr. Yu also served as Chief Financial Officer of MTI Environmental Group from 2016 to 2018 and Luokung Technology Corp. (OTCMKTS: LKCOF) from 2018 to 2023. He holds a Bachelor of Commerce in finance and accounting, as well as a postgraduate degree, from the University ofAuckland. Jay Yu| Chief Financial Officer ▪ 30+ years of experience in multinational companies within the electronics manufacturing and automotive sectors. ▪ Ms. Yew previously served as business unit head and supply chain management for ZF Group helping grow revenues to over €46B. ▪ Secured PMTA approval and led a factory to fully automated production lines for e-cigarette devices. ▪ Ms. Yew holds an international Executive Masters Degree in Business Administration Canny Yew | CEO - Ispire Malaysia 16
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Contact: Phil Carlson Managing Director KCSA Strategic Communications 261 Madison Avenue, 9 th Floor New York, NY 10016 Office: 212 896 1233 Email: pcarlson@kcsa.com 17 Thank you!