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Quarterly guiding

Ahead of the quarterly results release, we remind you of the relevant publicly available information and guidance for the next quarter.

Business area outlook for Q2 2021 as provided in the Q1 2021 presentation:

Bauxite & Alumina

  • Alunorte expected to produce around nameplate capacity
  • Crane repair costs NOK ~100 million
  • Maintenance at Paragominas
  • Higher market prices for fuel oil

Aluminium Metal

  • ~65% of primary production for Q2 priced at USD 2 108 per mt
  • ~59% of premiums affecting Q2 booked at USD ~333 per mt
    • Q2 realized premium expected in the range of USD 275-325 per ton

Metal Markets

  • Volatile trading and currency effects

Extrusions

  • Continued strong demand
  • Continued low fixed costs

Energy

  • Average NO2 spot price ~422 NOK/MWh in April
  • Uncertainty of timing of spring thaw

Additional information

  • The latest available price and currency sensitivities for earnings (as well as information on the price time lags for revenues and costs), are included in the Q1 Investor presentation.

Publicly available information regarding the market prices and currency developments in Q2:

  • The average LME-cash market rate in Q2 was 2400 USD vs USD 2096 in Q1. Realized price in PM lags LME spot with 1-2 months
  • The average spot PAX alumina price in Q2 was USD 277 vs USD 299 in Q1. Alumina prices in B&A are realized with ca one month lag, in PM with 2-3 months lag
  • The average USD/NOK market rate in Q2 was 8.37 vs 8.51 in Q1
  • The average USD/BRL market rate in Q2 was 5.29 vs 5.48 in Q1
  • The Nordpool power price for NO2 (where Hydro has ~2/3 of the production) in Q2 was NOK/MWh 493 vs 469 NOK/MWh in Q1
  • The Nordpool power price for NO5 (where Hydro has ~1/3 of the production) in Q2 was NOK/MWh 467 vs 487 NOK/MWh in Q1
  • The Nordpool power price for NO3 in Q2 is 335 NOK/MWh vs 381 NOK/MWh in Q1

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