Investor Presentaiton

Adj. EBITDA down on lower prices and Extrusions results Partially offset by lower raw material cost, CO2 compensation adjustment and TerPaz Hydro Q4 2023 vs Q3 2023 3.9 0.7 0.5 0.6 0.7 0.3 0.9 0.5 3.7 0.8 0.4 CO2 compensation TerPaz program Other & eliminations Adj. EBITDA Q3 2023 Realized aluminium and alumina price Raw material cost Extrusion and recycling volumes Fixed cost FX CO2 compensation, TerPaz, other & eliminations Adj. EBITDA Q4 2023 Note: 1) Excluding Energy loss on buy-back contract with AM 16

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