Investor Presentaiton

alba 18 Aluminium for the world Q3 2015 Results Aluminium Industry Challenged by Significant Drop in All-in-Prices Cash Flow Bridge - 3Q15 vs. 2Q15 Maintain Solid Cash Flow Despite Tough Market Conditions Q2 2015 to Q3 2015 Cash Flow Bridge (US$M) Free Cash Flow (US$M) 300 225 150 75 184 70 20 69 21 58 80 80 100 119 224 Q3 2015 Operating & Investing Cash Flow 0 0 Cash CF WC CAPEX Payment Net Debt Cash Balance from Changes Spent to Service Balance 2Q15 Operations Shareholders 3Q15 Q3 2014

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