Norsk Hydro (NHY) Investor update summary

Agreements and operating status

• Alunorte signed a technical Term of Adjusted Conduct and a social Term of Commitment with Pará authorities on Sept. 5, marking a step toward normal operations. Neither sets a resumption timeline or provisions to resume.

• The refinery remained at 50% capacity under authority orders since March; Paragominas and Albras also reduced production by 50%.

• Internal and external reviews confirmed no overflow from bauxite residue deposits or harmful spills during the February rainfall event.

Technical agreement commitments

• TAC covers water-treatment improvements and capacity expansion, drainage studies, audits and other measures, monitored by a committee including civil society.

• TAC-related improvements and audits are estimated at BRL 60 million; food cards for Murucupi River-area families total BRL 65 million.

• Fines tied to the February 2018 and 2009 events total ~BRL 33 million; combined investments, costs and fines are estimated at BRL 160 million, plus a BRL 250 million financial guarantee.

Community investment and employment

• The social commitment provides up to BRL 150 million for sustainable urban development, including housing and infrastructure projects developed with the Pará government.

• This adds to the BRL 100 million commitment to local community investments through the Sustainable Barcarena Initiative.

• Around 1,000 employees at Alunorte and Paragominas received collective vacations; Paragominas temporarily suspended 80 work contracts and terminated 175 contractors in July.