En+ Group Investment Presentation

Chinese Production is Forecasted to Reach Record Highs Chinese installed aluminum capacity Chinese primary aluminium import Capacity cap 45mn t 41.0 mn t 370 377 42.6 346 42.3 270 243 170 70 296 kt Imports Exports )=. Net Imports 251 230 200 204 172 (147) (134) 103) Ent GROUP 238 2019 2020 2021E -30 Jun'20 Sep'20 Dec'20 Mar'21 Jun'21 Chinese production growth continues toward 45Mt . Restarts of up to 2Mt anticipated, whilst short term capacity disruptions expected to normalize Sources: CRU, Antaike, SMM, UC RUSAL Research. Imports stabilize in line with cooling manufacturing and release of local inventories ထ 58

View entire presentation