Norsk Hydro (NHY) Investor update summary

Curtailment decision

• On Oct. 3, Alunorte began preparing to temporarily shut down 100% of operations as DRS1 neared capacity; the shutdown process was initiated safely.

• Embargos prevented use of DRS2 and a press filter representing an investment of more than BRL 1 billion, forcing reliance on DRS1 and less efficient drum filters.

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

Operational and financial impact

• Paragominas will also shut down 100%; the decision is expected to have significant operational and financial consequences, potentially affecting the primary aluminium portfolio, including Albras.

• Since March 1, Alunorte had operated at 50% capacity under authority and court orders; Paragominas and Albras had also reduced production by 50%.

• The shutdown will affect direct and indirect employees at both plants; collaboration with unions is underway to reduce employee impacts.

• During reduced activity, around 1,000 employees took collective vacations; Paragominas suspended 80 work contracts and terminated 175 contractors in July.

Agreements and next steps

• Agreements signed Sept. 5 set technical improvements, audits, studies and food-card payments for families near the Murucupi River, alongside community development efforts and investments in Barcarena.

• Work with authorities will continue to seek removal of the embargo and resumption of operations.