Investor Presentaiton

aba Aluminium for the world المنيوم البحرين ش.م.ب. Aluminium Bahrain B.S.C. (Alba Aluminium Industry: Volatility & Uncertainty to Shape Medium Term Outlook Aftershocks from pandemic and Russia-Ukraine war will continue to weigh on aluminium fundamentals in the short-run Prospects for healthier 2024 will depend on better economic performance in major markets and a return to restocking across aluminium supply-chain Regional premia to further drop against a backdrop of weak demand in Europe and US Carbon Border Adjustment Mechanism (CBAM): Reporting Phase started in Oct'23 requiring European producers to report their direct and indirect emissions while importers will be required, starting from 2026, to purchase emissions allowances on direct emissions LME price to range between US$2,100/t - US$2,200/t for the remainder of 2023 & is expected to gradually recover from Q2 2024 Page 24

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