Investor Presentaiton

Net-zero Hydro: The roadmap On track to achieve 30% carbon emissions reduction by 2030 and net-zero by 2050 or earlier GHG emissions - ownership equity Million tonnes CO2e (% of 2018 baseline emissions) Hydro 2018 11.3 (100%) Alunorte heavy fuel oil and coal -30% 2025 2030 Fuel switch, electrical boilers, other initiatives Electrifying coal boilers, grid mix improvements, smelter process improvements Renewable power, green hydrogen, smelter emissions 2050 or earlier 10.2 1.1 (90%) Incl. pilot volumes HalZero, CCS and Hydrogen 7.9 (70%) Decarbonizing electricity generation Green hydrogen substitution Electricity generation (scope 2) -30% Natural gas in casthouse, recycling extrusions and anode production -10% Alunorte & casthouse natural gas Electrolysis process emissions -30% 2018 2025 2030 HalZero H₂ and CCS Parallel technology development to reach net-zero by 2050 0 2050 51

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