EVERY TIME EVERY WHERE CORPORATE PRESENTATION EVERY CYCLE

EVERY TIME EVERY WHERE CORPORATE PRESENTATION EVERY CYCLE EVERY SHAPE EVERY MOVE Third Quarter FY 2020 Results Briefing November 2020

OUR INTEGRATED OPERATIONS UPSTREAM- BAUXITE MINING & ALUMINA REFINERY CARBON ANODE MANUFACTURING Worsley UJV, Australia Capacity : 4. 6 million tpa Effective Stake: 5% Shandong Sunstone & China PMB Carbon Ltd (“Sunstone”) Capacity : 300 thousand tpa Effective Stake: 20% Pt. Bintan, Indonesia* Capacity : 2. 0 million tpa Effective Stake: 25% * Construction in progress MIDSTREAM- SMELTING Press Metal Bintulu & Press Metal Sarawak Capacity : 760 thousand tpa (+320 thousand tpa by Jan 2021) Effective Stake: 80% DOWNSTREAM- EXTRUSION Our business operations 1 Press Metal International PMB Aluminium Capacity : 160 thousand tpa Effective Stake: 100% Capacity : 50 thousand tpa Effective Stake: 100%

FROM ALUMINIUM TO SOLUTIONS PRIMARY PRODUCTS VALUE ADDED PRODUCTS Capacity 760 k Tonnes p. a. LME Certified Aluminium Ingots (P 1020) Billets : 240 k Wire Rods : 200 k Alloy Ingots : 120 k tonnes p. a. Billets Alloy Ingots (A 356) Wire Rods EXTRUDED SOLUTIONS Capacity 210 k Tonnes p. a. Building Materials 2 Specific Applications Electronic Components Automotive

3 Q FY 2020 FINANCIAL SUMMARY INCOME STATEMENT 3 Q FY 19 2 Q FY 20 3 Q FY 20 Qo. Q (%) Yo. Y (%) 9 M FY 19 9 M FY 20 Yo. Y (%) 2, 120. 3 1, 730. 5 1, 862. 0 7. 6% -12. 2% 6, 425. 2 5, 422. 6 -15. 6% Pretax profit 168. 9 124. 9 172. 9 38. 4% 2. 4% 447. 9 441. 4 -1. 5% Tax (19. 2) (8. 6) (19. 2) 123. 3% 0. 0% (35. 8) (41. 2) 15. 1% Minority Interest (28. 1) (26. 2) (31. 6) 20. 6% 12. 5% (72. 6) (85. 5) 17. 8% Net Profit 121. 5 90. 0 121. 9 35. 4% 0. 3% 339. 5 314. 6 -7. 3% EI/Others 0. 0 n. a 0. 0 n. a Core Profit 121. 5 90. 0 121. 9 35. 4% 0. 3% 339. 5 314. 6 -7. 3% Core Net Margin (%) 5. 73% 5. 20% 6. 55% 5. 28% 5. 80% FYE Dec (RM’ Million) Revenue Aluminium market prices & currency movement: FYE Dec (RM’ Million) 3 Q FY 19 2 Q FY 20 3 Q FY 20 Qo. Q (%) Yo. Y (%) 9 M FY 19 9 M FY 20 Yo. Y (%) LME Cash Price (USD/MT) 1, 764. 8 1, 501. 0 1, 706. 4 13. 7% -3. 3% 1, 828. 8 1, 635. 2 -10. 6% MJP Premium For P 1020 (USD/MT) 108. 0 82. 0 85. 0 3. 7% -21. 3% 95. 0 83. 0 -12. 6% 1, 872. 8 1, 583. 0 1, 791. 4 13. 2% -4. 3% 1, 923. 8 1, 718. 2 -10. 7% 4. 16 4. 32 4. 20 4. 14 4. 23 All-In Aluminium Price (USD/MT) RM: USD 3

3 Q FY 2020 FINANCIAL SUMMARY BALANCE SHEET & OTHERS (Figures in RM’ Million) 2 Q FY 20 3 Q FY 20 Qo. Q (%) 6, 072. 4 6, 357. 8 4. 7% 494. 5 393. 6 -20. 4% 1, 388. 9 1, 392. 2 0. 2% Trade Receivables 548. 8 619. 6 12. 9% Trade Payables 631. 4 544. 9 -13. 7% Long Term Borrowing 3, 750. 8 3, 989. 9 6. 4% Short Term Borrowing 983. 4 772. 6 -21. 4% 3, 386. 3 3, 757. 5 11. 0% Non Controlling Interest 804. 1 883. 9 9. 9% Cash Flows From Operating Activities 455. 0 400. 9 -11. 9% Cash Flows From Investing Activities (372. 4) (465. 3) -24. 9% Cash Flows From Financing Activities 7. 5 (24. 6) >-100% Net Increase/Decrease In Cash & Cash Equiv 90. 0 (88. 9) 198. 8% Net Gearing Ratio (x) 1. 01 0. 94 >-100% Single Tier Dividend (sen/share)^ 1. 00 - Property, plant and equipment Cash & Cash Equivalent Inventories Shareholders Equity 4

HISTORICAL LME PRICES AND PMAH PROFIT Mukah 120, 000 tpa Mukah+ Samalaju Phase 1 440, 000 tpa 2, 800 1, 080, 000 tpa High: USD 2, 786 Average: USD 1, 953 Low: USD 1, 252 Nov-20 PMAH Core Profit (RM’Mill) • LME prices has rebounded from the low of USD 1, 439 in April 2020 and is currently trading in the range of USD 1, 900 -2, 000. • Moving forward, we see LME prices continue to improve supported by economic recovery thus demand especially from China. • We also foresee there is no new significant supply of capacity globally. 5 Mukah+ Samalaju Phase 1, 2& 3 USD / tonne Mukah+ Samalaju Phase 1 & 2 760, 000 tpa Jan-21

RAW MATERIAL COST MOVEMENT Carbon Anode Prices RMB/tonne USD/tonne 3, 400 Alumina Prices 450 35% 3, 300 30% 3, 200 400 25% 3, 100 350 3, 000 20% 2, 900 303 300 2, 800 2, 700 285 279 278 276 280 273 242 250 265 257 250 242 15% 273 5% 2, 600 0 -2 ct O 20 p. Se 20 g. Au l-2 0 Ju 20 n. Ju 20 ay M r-2 0 0 Ap M ar -2 20 b. Fe 20 n. Ja ec D ov N 19 0% 19 20 N ov - 0 -2 ct O 20 p. Se 20 g. Au l-2 0 Ju 20 n. Ju 20 M ay - 0 r-2 Ap -2 ar M b- 20 0 200 Fe Ja n- 20 2, 500 COMMENTERIES • Carbon anode prices have increased slightly from RMB 3, 100 in January 20 to around RMB 3, 270 per tonne as at November 20. • Alumina prices have dropped significantly from high of ~USD 303 in March 20 to ~USD 273 as at November 20. • Current alumina price trades below 15% of LME prices. 6 10% Norm 16%-17%

CHINA TURNS NET IMPORTER OF PRIMARY ALUMINIUM (‘ 000 tonne) China’s Import & Export of Unwrought Aluminium & Aluminium Products 800 700 600 500 LME vs Sh. FE prices LME Prices (USD) 2, 500 SHFE Prices (RMB) 17, 000 2, 000 15, 000 13, 000 1, 500 400 11, 000 Export Import -2 0 0 N ov -2 ct O 20 Se p- 20 Au g- l-2 Ju n 2 ay 0 M r-2 Ap 0 ar Ju LME 0 5, 000 n 20 Jul-20 Aug-20 Sep-20 Ja Feb-20 Mar-20 Apr-20 May-20 Jun-20 0 -2 0 7, 000 -2 0 500 M 100 9, 000 b 2 200 Fe 300 SHFE • China’s swift economic rebound led to increased aluminium demand higher SHFE prices as compared to London Metal Exchange (LME) prices. • The higher domestic prices and tightness of aluminium supply within China currently steered China to be a net importer of primary aluminium. • China’s export mostly constitute of finished or semi finished aluminium products, meanwhile import is mostly primary aluminium. 7

PROGRESS OF PHASE 3 SAMALAJU SMELTER PHASE 3 CAPACITY & EST. COMPLETION DATE • 320 thousand tpa • Targeted commissioning by January 2021 8

PROGRESS OF PHASE 3 SAMALAJU SMELTER SMELTING POTLINES 9

PROGRESS OF PT BINTAN, INDONESIA Port Alumina refinery CAPACITY & EST. COMPLETION DATE • 2 million tpa • Phase 1 (1 million tpa) - 1 Q 2021 Power Plant 10 • Phase 2 (1 million tpa) - 4 Q 2021

Historical Borrowings & Gearing Trend CFO / Borrowings (RM’Mil) 1. 45 Net Gearing (x) 1. 25 1. 42 1. 71 2. 00 1. 31 0. 97 0. 91 1. 11 0. 97 0. 69 0. 84 0. 94 1. 00 6, 600 - 5, 600 SAMALAJU PHASE 3 JAA PT Bintan 4, 600 3, 600 SAMALAJU PHASE 2 2, 600 1, 600 SAMALAJU PHASE 1 MUKAH 600 -400 2009 2010 2011 2012 Investments 2013 2014 CFO 2015 2016 ST Debt 2017 2018 2019 9 M 2020 LT Debt STRONG CASH FLOW GENERATION ENABLES PRESS METAL TO REDUCE BORROWINGS RAPIDLY 11 8

OUTSTANDING SUKUK Local Currency Foreign Currency Programme Tenure • USD 400 million Senior Notes (Senior Notes) • • 5 Years Bullet Payment in 2022, with redemption option after 30 October 2020 • Islamic Medium Term Notes Programme of up to RM 5. 0 Billion (IMTN) Programme Tenure • 30 years Rating • RAM: AA 3 • RM 1. 7 billion • 4. 00%-4. 30% Programme • • Moody’s : Ba 3 S&P : B+ Outstanding Amount • USD 221. 19 million Issuance Rate • 4. 80% Outstanding Amount Redemption • Fully redeemed on 27 th November 2020 Issuance Rating 2024 12 10 years RM 250 million IMTN 3 @ 4. 30% 7 years RM 200 million IMTN 2 @ 4. 20% 5 Years RM 700 million IMTN 1 @ 4. 00% 5 Years RM 550 million IMTN 1 @ 4. 10% Bonds & Sukuk Repayment Schedule 2025 2026 2027 2028 2029

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