2021 Investor Presentation

New Zealand Aluminium Smelter (Tiwai Point) 14 Jan 2021 Revised NZAS contract 400MW 172MW 1 Jan 2022 1 Jan 2023 1 Jan 2024 31 Dec 2024 no termination right (except terminal force majeure) NZAS termination right with 6 months notice (terminal FM also applies) USD LME prices and 12 month forward forecasts Existing 4th potline contract (currently suspended) 50MW 3,400 3,200 2 month termination right 3,000 NZAS Rio 2,800 Strategic terminate 2,600 Review (Oct 19) NZAS contract 31 Jan 22 current suspension period ends NZAS 目 contract agreed revised 2,400 2,200 1 Feb 22 - 31 Mar 21 recommencement notice permitted 2,000 1 Apr 22 - 31 Dec 22 recommencement/extended suspension 31 Dec 22 contract ends 1,800 1,600 1,400 Meridian. 572MW CfD exit contract with Meridian terminating 31 December 2024 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep 20 20 20 20 20 20 20 20 20 20 20 20 21 21 21 21 21 21 21 21 21 21 21 21 22 22 22 22 22 22 22 22 22 actual price forecast Jan 20 forecast jun 20 forecast Jan 21 forecast Jul 21 forecast Nov 21 Source: Meridian, HARBOR Aluminium NOVEMBER 2021 2021 INVESTOR PRESENTATION 10

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