Investor Presentaiton

1) Extrusions earnings drivers Adjusted EBITDA per tonne 1), NOK 8 000 7 000 6.000 5 000 4.000 3 000 2 000 1.000 0 Q1 2016 Q2 2016 Q3 2016 Q4 2016 Q1 2017 Pro-forma figures Q2 2017 Q3 2017 Q4 2017 Q1 2018 Q2 2018 Q3 2018 Q4 2018 Q1 2019 Q2 2019 Q3 2019 Q4 2019 Q1 2020 Q2 2020 Q3 2020 Q4 2020 Q1 2021 Q2 2021 Q3 2021 Q4 2021 Q1 2022 Q2 2022 Q3 2022 Q4 2022 • • • Contract structure • • Margin business based on conversion price LME element passed on to customers Mostly short-term contract, typically ranging from spot to 12 months, few longer term contracts with floating price or hedging in place High share of variable costs - high level of flexibility Annual seasonality driven by maintenance and customer activity • Stronger Q1 and Q2, weaker Q3 and Q4 Strong focus on increasing value add to customers Preferred supplier market position in high-end products 117 Hydro

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