Investor Presentaiton

Strong demand for greener products Greener demand growth is outpacing the rest of the market '22-'30 CAGR Total EU / North 7 ~3% America market Ambition to more than double sales of greener products Hydro CIRCAL¹) Sales volume, tonnes (000s) ~3X ~140 100 40 50 55 20 Low-carbon primary (<4 t/t¹)) ↑ -20% 2020 2021 2022 2023e 2025e Mid-term capacity ~2X Hydro Hydro REDUXA2) Recycled²) (71) -5% Sales volume, tonnes (000s) ~1000 650 420 450 250 No carbon requirement -0% 75 2020 2021 2022 2023e 2025e Mid-term capacity 11 1) Post-consumer scrap > 75%. 2) Footprint < 4.0

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