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Investor Presentaiton

Hydro Bauxite & Alumina Hydro Bauxite & Alumina Hydro Bauxite & Alumina Hydro Bauxite & Alumina Hydro Aluminium Metal Hydro Aluminium Metal Hydro Aluminium Metal Hydro Metal Markets Hydro Metal Markets Hydro Metal Markets Hydro Extrusions Hydro Extrusions Hydro Extrusions Hydro Extrusions Hydro Extrusions Hydro Extrusions Unrealized derivative effects on power contracts Hydro Energy Hydro Energy Adjusting items to EBITDA, EBIT and net income NOK million (+=loss/()=gain) Unrealized derivative effects on raw material contracts Community contributions Brazil Other effects Total impact Unrealized derivative effects on LME related contracts Unrealized effects on power contracts Significant rationalization charges and closure costs Net foreign exchange (gain)/loss Other effects Total impact Unrealized derivative effects on LME related contracts Other effects Total impact Unrealized derivative effects on LME related contracts Unrealized derivative effects on power contracts Significant rationalization charges and closure costs (Gains) losses on divestments Other effects Total impact (Gains) losses on divestments Hydro Aluminium Metal Hydro Aluminium Metal Hydro Aluminium Metal (35) - (84) - - Q1 2022 (376) Q1 2021 (27) Q2 2021 (84) Q3 2021 (143) Q4 2021 113 Q2 2022 (173) Q3 2022 157 Q4 2022 Year 2021 Year 2022 Hydro 353 (141) (40) 202 15 32 217 32 (46) 162 (46) 162 (27) 59 82 (376) (173) 157 547 30 155 1 256 1 740 2 764 (849) 4715 (6 374) (1538) 207 4 912 (2.990) 34 104 (122) (2 779) (766) 1 056 1 291 1 638 (2 763) 3 218 - 184 13 66 (18) 64 263 46 (26) (35) (23) (19) (23) (26) (40) (120) (108) (232) (69) (232) (69) 1 254 1 770 2 621 (3 585) 3 929 (5 428) (273) 1 868 2 060 97 24 1 226 (210) 190 (850) 195 358 42 (107) (46) (46) 24 1 226 (256) 190 (850) 195 358 (4) (107) (98) (106) 20 306 (442) 543 84 (126) 122 59 (52) (20) (39) 58 50 (67) (72) 3 95 17 2 2 13 91 114 106 (23) (4) (49) 1 (2) (4) (27) (54) (74) (2) (76) (98) (10) (38) 283 (527) 541 130 (106) 137 38 (19) (9) (22) (57) (236) 46 (254) 615 (107) 170 (45) - (65) - (45) (65) Net foreign exchange (gain)/loss Hydro Energy 4 6 5 6 4 2 3 1 21 11 Total impact Hydro Energy (59) Unrealized derivative effects on LME related contracts Other and eliminations 1 379 (3) (18) (51) (232) (16) (251) 616 (131) 116 10 (6) 9 (15) (15) 19 47 13 36 (Gains) losses on divestments Other and eliminations - (231) (231) Net foreign exchange (gain)/loss Other effects Total impact Other and eliminations 9 16 (5) (21) (26) (83) (91) 20 (221) Other and eliminations - 66 - 15 66 15 Adjusting items to EBITDA Other and eliminations Hydro 10 25 (242) 74 (36) (41) (65) (29) (132) (170) 1 103 1 698 2 608 (3 451) 2 948 (5 966) (108) 3 254 1 959 128 Impairment charges Hydro Aluminium Metal 276 49 28 276 77 Impairment charges Hydro Extrusions 122 7 14 7 258 150 258 Depreciation Hydro Aluminium Metal 101 151 154 108 513 Adjusting items to EBIT Hydro 1 326 1 857 2 776 (3 060) 2 948 (5 966) (59) 3 541 2 899 464 Net foreign exchange (gain)/loss Hydro (653) (550) 622 (823) (2 392) 1 129 (572) (356) (1 404) (2 192) Adjusting items to income (loss) before tax Hydro 673 1 307 3 398 (3 883) 556 (4 838) (631) 3 185 1495 (1 728) Calculated income tax effect Hydro (106) (555) (1 027) 1 168 (181) 1 432 213 (972) (520) 492 Adjusting items to net income (loss) Hydro 567 752 2 371 (2 715) 374 (3406) (418) 2 213 976 (1 236) 128
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