Investor Presentaiton

29 alba Aluminium for the world YTD 2015 Results Aluminium Industry Challenged by Significant Drop in All-in-Prices Adjusted EBITDA Margin at 21.9% 400 300 YTD 2015 vs. YTD 2014 - EBITDA Bridge (US$M) 65 EBITDA 20.4% EBITDA 21.9% 89 18 25 1 325 200 343 100 EBITDA YTD 2014 Adjusted Metal Sales Other Sales Direct Cost Derivatives Selling Expenses EBITDA YTD 2015 Adjusted Adjusted EBITDA includes impact of actual realised derivative payments

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