Alba announced a significant milestone towards the commercial operation of its Power Station 5 (PS 5) Block 4 Project with the first fire of the Mitsubishi Power M701JAC Gas Turbine (GT) yesterday. This achievement marks a key step towards the project s on-schedule completion in Q4 2024. Notably it also comes just six months after the GT unit s delivery to site in October 2023. A celebratory ceremony was held at the Block 4 Project site attended by high-level officials from Alba including chairman Khalid Al Rumaihi chief executive Ali Al Baqali chief power officer Amin Sultan and the aluminium smleter s executive management team. Mitsubishi Heavy Industries (MHI) energy systems vice-president Takashi Tozawa and SEPCOIII s vice-president Kong Lingfeng and senior officials from ESBI were also present. In his remarks Mr Al Rumaihi highlighted the significance of the first fire milestone saying: This achievement marks the commencement of commissioning activities for Block 4 which upon completion will set a new standard for sustainable and efficient power generation within the aluminium industry. He further emphasised Alba s commitment to environmental responsibility stating: The Block 4 Project translates our proactive approach to integrating energy operational efficiency with environmental standards to align with Bahrain s Net Zero Emissions target by 2060. Mr Al Baqali expressed his pride in achieving this milestone safely with more than 3.8 million safe working hours. He then emphasised the project s direct alignment with Alba s ESG Roadmap: With the successful first fire of the advanced gas turbine Alba is now closer to achieving its goals of reducing its environmental footprint and ensuring a sustainable future for the aluminium industry. He also commended the collaborative efforts of the owner teams from Alba MHI SEPCOIII and ESBI reiterating confidence in delivering the project on schedule. Mr Tozawa added: Mitsubishi Power is honoured to support Alba and Bahrain as we celebrate the successful achievement of first firing for gas turbine ahead of the schedule and the start of the hot commissioning of Alba s new CCGT Block 4 in Power Station 5 with our partners SEPCOIII. Today s success is testament to our unwavering commitment to using the latest innovation to deliver industry-leading and reliable solutions to our partners. Our advanced hydrogen-ready M701 JAC gas turbine technology provided for this project also underscores Mitsubishi Power s dedication to advancing low carbon power generation worldwide. As Bahrain progresses towards its ambitious growth targets outlined in the Economic Vision 2030 we take great pride in working together with Alba to provide uninterrupted and efficient power to support the country on its journey to sustainable growth. Adding further Mr Lingfeng said: As SEPCOIII we proudly celebrate the successful first firing of the gas turbine and the start of hot commissioning for Alba s new CCGT Block 4 at Power Station 5 in Bahrain. This milestone showcases our dedication to innovative solutions reflecting our commitment to global low-carbon power generation. Collaborating with Alba we deliver reliable sustainable power supporting Bahrain s Vision 2030. Alba s PS5 Block 4 Expansion Project is the addition of a fourth block of similar combined cycle configuration with 680.9 MW M701JAC Gas Turbine Combined Cycle and includes tie into the existing 220kV Substation. Once operational in Q4 2024 Block 4 will increase the nameplate capacity of PS5 Complex from 1 800 MW to 2 481 MW and reduce its overall GHG emissions intensity ratio by 0.5 tonnes of CO2 per 1 tonne of aluminium produced.

Shareholders of Alba have approved the distribution of 29.18 per cent of the paid-up capital as cash dividends for the year ended December 31 2023 or 29.18 fils per share which amounts to BD41 314 159 and the transfer of BD76 710 841 to the retained earnings. The dividend payout includes interim dividend of 13.28 fils per share which was already distributed to shareholders on August 31 2023. This follows the 14th annual general meeting (AGM) and an extraordinary general meeting (EGM) held yesterday at Al Dana Hall on the company s premises. The meeting was led by the chairman of the board Khalid Al Rumaihi with attendance from the board members company s executive management Alba shareholders and representatives from regulatory bodies. During the AGM meeting the shareholders approved the appointment of Mr Al Rumaihi as chairman. Moreover minutes of the previous AGM held on February 26 2023 were reviewed and approved. The meeting also discussed and approved the report of the board of directors for the company s business/activities along with the financial statements for 2023. The discussion also covered the Corporate Governance Report for 2023 and the meeting approved the re-appointment of Ernst & Young as the company s external auditors for the fiscal year 2024. In addition the shareholders approved the re-appointment of SICO to provide market-making services to Alba by using at any given time a maximum of 3pc of Alba s issued share capital over a three-year period and subject to the approval of Central Bank of Bahrain. Commenting Mr Al Rumaihi said: I want to start by expressing my deepest gratitude to the board of directors and our executive team. Their exceptional leadership and unwavering dedication throughout the past year have been instrumental in delivering strong performance both operationally and financially despite a challenging market environment with volatile LME prices and fluctuating premiums. This success is a true reflection of the talent commitment and collaborative spirit that permeates every level of Alba. This was reflected in our good financial performance allowing us to maintain a healthy dividend payout ratio of 35pc. He added: As we look forward I am confident that our well-defined vision robust strategy and the unwavering dedication of our team will continue to drive long-term value for our shareholders and cement our position as an industry leader. During the EGM the minutes of the previous meeting held on February 26 2023 were reviewed and approved. Approvals were also given to the amendment and restatement of the company s memorandum and articles of association in accordance with legislative decrees no. (3) of the year 2022 no. (20) (63) and (64) of the year 2021 and no. (28) of the year 2020 subject to the approval of regulatory authorities.

The Agreement was signed between Alba s CEO Ali Al Baqali and EGA s CEO Abdulnasser Bin Kalban in the presence of top officials from both companies. This Agreement encompasses both onsite and remote assistance wherein EGA will provide Alba s Reduction Line 6 with technical support services monitoring services as well as operational consultation. The agreement also covers operational and process audits technical training workshops as well as hands-on operation support among others. Commenting on this occasion Alba s CEO Ali Al Baqali stated: Alba s Reduction Line 6 is a success story built upon the foundation of our exceptional local talent and bolstered by EGA s DX Ultra technology playing a role in it. We are excited to build on our partnership with EGA through this technical services agreement as it will enable our human talent to continuously benefit from EGA s DX Ultra advancements and achieve our sustainability objectives. Commenting on this occasion Abdulnasser Bin Kalban Chief Executive Officer of Emirates Global Aluminium stated: EGA s longstanding partnership with Alba reflects the vision of our wise leadership to deepen the dynamic relations between our two countries. We are pleased to extend our technology and know-how provision to Aluminium Bahrain and further build on the success of Reduction Line 6 built with EGA technology. Our partnership is grounded in shared values and commitment to advancing sustainable development. At EGA we have been developing our own technology for more than 30 years. EGA s bold aspiration is to innovate the future of aluminium production and cement our position as the technology partner of choice for our industry. Commissioned on 13 December 2018 and gradually ramped up over the course of 2019 Alba s Reduction Line 6 has brought the Company s nameplate production capacity to more than 1.6 million metric tonnes per annum.

The accomplishment recognises Alba s steadfast dedication and commitment to health and safety practices as well as managing risks to workers health safety and wellbeing. Alba underwent a 12-day comprehensive and robust evaluation in September 2023 of its occupational health and safety management systems and had its performance measured against a number of key best practice indicators which included leadership stakeholder engagement risk management organisational health safety culture and continual improvement. Commenting on this occasion Alba s Chief Executive Officer Ali Al Baqali stated: We are humbled to be the first aluminium smelter in the GCC to have reached the 4 star level. This recognition is a reflection of our Safety culture where every person takes responsibility for their actions and looks out for one another. I take the opportunity to thank each and every employee as well as contractor s personnel for upholding the best safety protocols at all times. The BSC Five Star Occupational Health and Safety Audit is one of the most distinguished contemporary and quantified occupational health and safety audit processes which allows businesses to test their health and safety performance against the latest legislation recognised standards and best practices.

The MEIRA 2023: From ESG to Sustainable Capital Markets was hosted by Bahrain Bourse in collaboration with the Central Bank of Bahrain and featured a diverse lineup of discussions and panels that explored the GCC market s structure growth potential regulatory environment and emerging trends ESG landscape and IR developments. Commenting on this win Alba s Chief Executive Officer Ali Al Baqali said: We are proud to have been recognized as the top Investor Relations Lead Corporate in Bahrain. What made this recognition more meaningful is that this time we have collected it from our home - the Kingdom of Bahrain. Scooping this award for the 12 th year in a row is a strong vote of confidence for everything we do in Investor Relations and I thank Director Investor Relations and her team for going above and beyond to set the benchmark in IR best practices as we navigate the dynamic business landscape. Adding further Alba s Director Investor Relations Insurance & Corporate Secretary and recipient of the Best Investor Relations Professional Bahrain Award Eline Hilal said: I am incredibly humbled to receive this award as the top Investor Relations lead in Bahrain and the region for more than a decade. Transparent strong governance and proactive communication are the cornerstone of everything we do in IR. Our aim is to continue shaping the Company s narrative foster trust with our investors and build strong relationships with our financial community as to why they should own Alba stock. Eline Hilal was a key panelist on the topic of Integrating ESG into IR at the Conference on 13 November 2023 at the Ritz Carlton Hotel - Bahrain alongside investment sustainability and IR professionals from well-known companies in the Region.

Alba announced a significant milestone towards the commercial operation of its Power Station 5 (PS 5) Block 4 Project with the first fire of the Mitsubishi Power M701JAC Gas Turbine (GT) yesterday. This achievement marks a key step towards the project s on-schedule completion in Q4 2024. Notably it also comes just six months after the GT unit s delivery to site in October 2023. A celebratory ceremony was held at the Block 4 Project site attended by high-level officials from Alba including chairman Khalid Al Rumaihi chief executive Ali Al Baqali chief power officer Amin Sultan and the aluminium smleter s executive management team. Mitsubishi Heavy Industries (MHI) energy systems vice-president Takashi Tozawa and SEPCOIII s vice-president Kong Lingfeng and senior officials from ESBI were also present. In his remarks Mr Al Rumaihi highlighted the significance of the first fire milestone saying: This achievement marks the commencement of commissioning activities for Block 4 which upon completion will set a new standard for sustainable and efficient power generation within the aluminium industry. He further emphasised Alba s commitment to environmental responsibility stating: The Block 4 Project translates our proactive approach to integrating energy operational efficiency with environmental standards to align with Bahrain s Net Zero Emissions target by 2060. Mr Al Baqali expressed his pride in achieving this milestone safely with more than 3.8 million safe working hours. He then emphasised the project s direct alignment with Alba s ESG Roadmap: With the successful first fire of the advanced gas turbine Alba is now closer to achieving its goals of reducing its environmental footprint and ensuring a sustainable future for the aluminium industry. He also commended the collaborative efforts of the owner teams from Alba MHI SEPCOIII and ESBI reiterating confidence in delivering the project on schedule. Mr Tozawa added: Mitsubishi Power is honoured to support Alba and Bahrain as we celebrate the successful achievement of first firing for gas turbine ahead of the schedule and the start of the hot commissioning of Alba s new CCGT Block 4 in Power Station 5 with our partners SEPCOIII. Today s success is testament to our unwavering commitment to using the latest innovation to deliver industry-leading and reliable solutions to our partners. Our advanced hydrogen-ready M701 JAC gas turbine technology provided for this project also underscores Mitsubishi Power s dedication to advancing low carbon power generation worldwide. As Bahrain progresses towards its ambitious growth targets outlined in the Economic Vision 2030 we take great pride in working together with Alba to provide uninterrupted and efficient power to support the country on its journey to sustainable growth. Adding further Mr Lingfeng said: As SEPCOIII we proudly celebrate the successful first firing of the gas turbine and the start of hot commissioning for Alba s new CCGT Block 4 at Power Station 5 in Bahrain. This milestone showcases our dedication to innovative solutions reflecting our commitment to global low-carbon power generation. Collaborating with Alba we deliver reliable sustainable power supporting Bahrain s Vision 2030. Alba s PS5 Block 4 Expansion Project is the addition of a fourth block of similar combined cycle configuration with 680.9 MW M701JAC Gas Turbine Combined Cycle and includes tie into the existing 220kV Substation. Once operational in Q4 2024 Block 4 will increase the nameplate capacity of PS5 Complex from 1 800 MW to 2 481 MW and reduce its overall GHG emissions intensity ratio by 0.5 tonnes of CO2 per 1 tonne of aluminium produced.

Shareholders of Alba have approved the distribution of 29.18 per cent of the paid-up capital as cash dividends for the year ended December 31 2023 or 29.18 fils per share which amounts to BD41 314 159 and the transfer of BD76 710 841 to the retained earnings. The dividend payout includes interim dividend of 13.28 fils per share which was already distributed to shareholders on August 31 2023. This follows the 14th annual general meeting (AGM) and an extraordinary general meeting (EGM) held yesterday at Al Dana Hall on the company s premises. The meeting was led by the chairman of the board Khalid Al Rumaihi with attendance from the board members company s executive management Alba shareholders and representatives from regulatory bodies. During the AGM meeting the shareholders approved the appointment of Mr Al Rumaihi as chairman. Moreover minutes of the previous AGM held on February 26 2023 were reviewed and approved. The meeting also discussed and approved the report of the board of directors for the company s business/activities along with the financial statements for 2023. The discussion also covered the Corporate Governance Report for 2023 and the meeting approved the re-appointment of Ernst & Young as the company s external auditors for the fiscal year 2024. In addition the shareholders approved the re-appointment of SICO to provide market-making services to Alba by using at any given time a maximum of 3pc of Alba s issued share capital over a three-year period and subject to the approval of Central Bank of Bahrain. Commenting Mr Al Rumaihi said: I want to start by expressing my deepest gratitude to the board of directors and our executive team. Their exceptional leadership and unwavering dedication throughout the past year have been instrumental in delivering strong performance both operationally and financially despite a challenging market environment with volatile LME prices and fluctuating premiums. This success is a true reflection of the talent commitment and collaborative spirit that permeates every level of Alba. This was reflected in our good financial performance allowing us to maintain a healthy dividend payout ratio of 35pc. He added: As we look forward I am confident that our well-defined vision robust strategy and the unwavering dedication of our team will continue to drive long-term value for our shareholders and cement our position as an industry leader. During the EGM the minutes of the previous meeting held on February 26 2023 were reviewed and approved. Approvals were also given to the amendment and restatement of the company s memorandum and articles of association in accordance with legislative decrees no. (3) of the year 2022 no. (20) (63) and (64) of the year 2021 and no. (28) of the year 2020 subject to the approval of regulatory authorities.

The Agreement was signed between Alba s CEO Ali Al Baqali and EGA s CEO Abdulnasser Bin Kalban in the presence of top officials from both companies. This Agreement encompasses both onsite and remote assistance wherein EGA will provide Alba s Reduction Line 6 with technical support services monitoring services as well as operational consultation. The agreement also covers operational and process audits technical training workshops as well as hands-on operation support among others. Commenting on this occasion Alba s CEO Ali Al Baqali stated: Alba s Reduction Line 6 is a success story built upon the foundation of our exceptional local talent and bolstered by EGA s DX Ultra technology playing a role in it. We are excited to build on our partnership with EGA through this technical services agreement as it will enable our human talent to continuously benefit from EGA s DX Ultra advancements and achieve our sustainability objectives. Commenting on this occasion Abdulnasser Bin Kalban Chief Executive Officer of Emirates Global Aluminium stated: EGA s longstanding partnership with Alba reflects the vision of our wise leadership to deepen the dynamic relations between our two countries. We are pleased to extend our technology and know-how provision to Aluminium Bahrain and further build on the success of Reduction Line 6 built with EGA technology. Our partnership is grounded in shared values and commitment to advancing sustainable development. At EGA we have been developing our own technology for more than 30 years. EGA s bold aspiration is to innovate the future of aluminium production and cement our position as the technology partner of choice for our industry. Commissioned on 13 December 2018 and gradually ramped up over the course of 2019 Alba s Reduction Line 6 has brought the Company s nameplate production capacity to more than 1.6 million metric tonnes per annum.

The accomplishment recognises Alba s steadfast dedication and commitment to health and safety practices as well as managing risks to workers health safety and wellbeing. Alba underwent a 12-day comprehensive and robust evaluation in September 2023 of its occupational health and safety management systems and had its performance measured against a number of key best practice indicators which included leadership stakeholder engagement risk management organisational health safety culture and continual improvement. Commenting on this occasion Alba s Chief Executive Officer Ali Al Baqali stated: We are humbled to be the first aluminium smelter in the GCC to have reached the 4 star level. This recognition is a reflection of our Safety culture where every person takes responsibility for their actions and looks out for one another. I take the opportunity to thank each and every employee as well as contractor s personnel for upholding the best safety protocols at all times. The BSC Five Star Occupational Health and Safety Audit is one of the most distinguished contemporary and quantified occupational health and safety audit processes which allows businesses to test their health and safety performance against the latest legislation recognised standards and best practices.

The MEIRA 2023: From ESG to Sustainable Capital Markets was hosted by Bahrain Bourse in collaboration with the Central Bank of Bahrain and featured a diverse lineup of discussions and panels that explored the GCC market s structure growth potential regulatory environment and emerging trends ESG landscape and IR developments. Commenting on this win Alba s Chief Executive Officer Ali Al Baqali said: We are proud to have been recognized as the top Investor Relations Lead Corporate in Bahrain. What made this recognition more meaningful is that this time we have collected it from our home - the Kingdom of Bahrain. Scooping this award for the 12 th year in a row is a strong vote of confidence for everything we do in Investor Relations and I thank Director Investor Relations and her team for going above and beyond to set the benchmark in IR best practices as we navigate the dynamic business landscape. Adding further Alba s Director Investor Relations Insurance & Corporate Secretary and recipient of the Best Investor Relations Professional Bahrain Award Eline Hilal said: I am incredibly humbled to receive this award as the top Investor Relations lead in Bahrain and the region for more than a decade. Transparent strong governance and proactive communication are the cornerstone of everything we do in IR. Our aim is to continue shaping the Company s narrative foster trust with our investors and build strong relationships with our financial community as to why they should own Alba stock. Eline Hilal was a key panelist on the topic of Integrating ESG into IR at the Conference on 13 November 2023 at the Ritz Carlton Hotel - Bahrain alongside investment sustainability and IR professionals from well-known companies in the Region.