Investor Presentaiton

alba Aluminium for the world 30 YTD 2015 Results Aluminium Industry Challenged by Significant Drop in All-in-Prices Cash Flow Bridge - YTD 2015 vs. YTD 2014 Maintain Solid Cash Flow Despite Tough Market Conditions YTD 2014 to YTD 2015 Cash Flow Bridge (US$M) Free Cash Flow (US$M) 500 400 341 300 200 100 179 0 12 69 77 139 224 WC CAPEX Payment Net Debt Cash Service Balance YTD 2015 Cash CF Balance from Changes Spent to YTD 14 Operations Shareholders 160 80 60 258 261 YTD 2014 YTD 2015 Operating & Investing Cash Flow

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