Hydro is striving to become the most sustainable aluminium company in the industry. Since the start of last year, it has announced more than 25 sustainability related projects, totaling more than NOK 10 billion (EUR 1 billion) in investments.

Since becoming Hydro's CEO in May 2019, Hilde Merete Aasheim has been repeating one key message regarding the direction of the company: Lifting profitability, driving sustainability.

Hydro has followed up with back-to-back years of strong profitability and many future oriented investments aimed at improving the sustainability of its operations in the aluminium business.

'Aluminium is a key material for the green transition. Hydro expects the demand for 'near zero' aluminium to grow much faster than the overall market demand growth. We are investing heavily in our operations with the aim of fulfilling the ambition of aluminium production with net-zero emissions,' says Aasheim.

The company is building upon a sturdy foundation, including a 55 percent reduction of carbon dioxide emissions at its aluminium metal plants in Norway, while production has increased by 40 percent. The next advancements will be driven by new technology, more recycling and new investments.

In April, Hydro announced a tender offer for 100 percent of the shares of the recycling company Alumetal S.A., with a purchase price of approximately EUR 232 million. Hydro is awaiting European Commission approval of its acquisition of the Polish company, the second largest producer of cast aluminium alloys in Europe, with annual production capacity of 275,000 metric tonnes. Alumetal has three plants in Poland and one in Hungary, and is constructing a state-of-the-art sorting line.

Hydro invests billions in making its aluminium more sustainable Hydro invests billions in making its aluminium more sustainable

Hydro is striving to become the most sustainable aluminium company in the industry. Since the start of last year, it has announced more than 25 sustainability related projects, totaling more than NOK 10 billion (EUR 1 billion) in investments.

Kamil Kutlu, Continuous Improvement Engineer, and the team at Hydro's recycling facility in Clervaux produced the first 130 tonnes of aluminium made with 100 percent post-consumer scrap earlier this year. (Photo: Marius Motroen/Hydro)

Since becoming Hydro's CEO in May 2019, Hilde Merete Aasheim has been repeating one key message regarding the direction of the company: Lifting profitability, driving sustainability.

Hydro has followed up with back-to-back years of strong profitability and many future oriented investments aimed at improving the sustainability of its operations in the aluminium business.

Hydro President & CEO Hilde Merete Aasheim

'Aluminium is a key material for the green transition. Hydro expects the demand for 'near zero' aluminium to grow much faster than the overall market demand growth. We are investing heavily in our operations with the aim of fulfilling the ambition of aluminium production with net-zero emissions,' says Aasheim.

The company is building upon a sturdy foundation, including a 55 percent reduction of carbon dioxide emissions at its aluminium metal plants in Norway, while production has increased by 40 percent. The next advancements will be driven by new technology, more recycling and new investments.

In April, Hydro announced a tender offer for 100 percent of the shares of the recycling company Alumetal S.A., with a purchase price of approximately EUR 232 million. Hydro is awaiting European Commission approval of its acquisition of the Polish company, the second largest producer of cast aluminium alloys in Europe, with annual production capacity of 275,000 metric tonnes. Alumetal has three plants in Poland and one in Hungary, and is constructing a state-of-the-art sorting line.

In addition to the announced investments, here are other sustainability related highlights from Hydro's aluminium operations over the past year:

In February, Hydro announced it had accepted a role as a materials partner in the Polestar 0 project for the Swedish electric carmaker Polestar. The only aluminium partner in the project, Hydro will support Polestar in its goal to build a climate neutral car by 2030.

In May, Hydro's recycling plant in Clervaux, Luxembourg, produced 130 tonnes of aluminium made with 100 percent post-consumer scrap. This is its first commercial volumes of near-zero carbon aluminium.

Also in May, Hydro's recycling plant in Commerce, Texas, became the first in the USA to be certified by DNV GL to produce Hydro CIRCAL. Two months later, Hydro's recycling plant in Henderson, Kentucky, was also certified by DNV GL to produce Hydro CIRCAL.

In July, the part-owned aluminium plant Qatalum in Qatar was certified according to both the ASI Performance Standard and the ASI Chain of Custody (CoC) Standard for primary aluminium smelting and the manufacturing of foundry alloys and extrusion ingots.

In August, Hydro's extrusion plant in Spanish Fork, Utah, became the company's first in the United States to source 100 percent of its electricity needs from renewable energy. It is Hydro's second plant in North America to reach this milestone, joining the Pointe-Claire, Quebec site, which utilizes 100 percent hydroelectric power. Pending the completion of a new solar field in the first half of 2023, Hydro's Cressona, Pennsylvania, facility will also source its entire electrical needs from renewable energy.

Hydro's wholly owned primary aluminium plants, recyclers, casthouse activities and the Brazilian joint venture Albras are all ASI certified. Hydro's Bauxite & Alumina business area, the Paragominas bauxite mine and Alunorte alumina refinery in Brazil are also ASI certified. Qatalum, jointly owned by Hydro and Qatar Aluminium Manufacturing Company, has dual ASI certification for primary aluminium smelting and the manufacturing of foundry alloys and extrusion ingots. The primary aluminium plant Aluminerie Alouette, where Hydro owns a 20 percent share, is also ASI certified. The recertification of Hydro Extrusions' ASI Performance Standard certification has been finalized and is now valid through May 2025. It covers 47 sites and tops among extrusion companies worldwide, with more on the way.

Contact:

Anders Vindegg

Head of External and Internal Communication

Group Communication

T: +47 93864271

E: anders.vindegg@hydro.com

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