Global Leader in Hydro Power and Aluminium

Even Prior to Current Shocks We Estimated Primary Aluminium Market to be in Marginal Oversupply Incremental primary aluminium demand vs Primary aluminium market balance 2.5 supply in 2020 1.8 0.8 0.7 0.5 WORLD CHINA INCREMENTAL SUPPLY DEFICIT DYNAMICS IN 2020 Sources: CRU, RUSAL analysis En+ Group overview ROW Mnt 0.3 -1.4 ■INCREMENTAL DEMAND EUROPE ASIA EX-CHINA Mnt 0.3 0.3 0.04 WORLD -1.0 CHINA 2019 2020 -0.4 N.AMERICA ROW Ent GROUP 56 Sustainable business Investment highlights Results snapshot Power segment Metals segment development

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