YE-21 CAPEX and Cash Flow Forecast

CLASSIFICATION: C1 - CONTROLLED Analysis of Selling Prices Selling prices ($/MT) - YE-21 vs YE-20 LME Price difference +39% 22 22 +42% 2,638 LME Premium 314 1,853 LME 177 2,324 LME 1,676 YE-20 YE-21 o Average selling prices in 2021 improved due to persistent strength from constructive macroeconomic environment leading to renewed demand for aluminium products at a global scale, coupled with supply constraints. Selling prices ($/MT) - Q4-21 vs Q3-21 2,779 352 +11% 3,087 LME Premium: 374. LME 2,427 LME 2,713 Q3-21 Q4-21 LME Aluminium price source: Bloomberg, CRU LME Price difference +12% 。 LME premiums in 2021 improved mainly due to favorable product mix, with more than 95% production of value added products during the current year, amid better global demand for premium aluminium products. QAMCO, IR Presentation, YE-21

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