Investor Presentaiton

Managing short-term risk and long-term opportunities Short term improvement and mitigation Increasing improvement program target for 2025 and extending program to 2027 • Setting ambitious operating capital ambitions for 2023 • Contingency measures in place Integrated aluminium margin hedge in place for 2023, 2024, and partly 2025 Solid framework for lifting returns and cash flow and managing uncertainty cial strength and flexibility Robust shareholder payout Sustainability position enabling profitable growth and cost of capital advantage Improvement program and commercial ambition Strategic growth initiatives Operating capital ambitions Lifting cash flows towards 2027 Strategic hedging & contingency measures Long-term opportunities and measures • . Clear principles for capital allocation Continue to deliver on strategic capex roadmap Sustainability driving cost of capital advantage Clear profitability roadmaps • Robust shareholder payout bility roadmaps Capex optimization Clear principles for capital alloc 64

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