EVERY TIME EVERY WHERE CORPORATE PRESENTATION EVERY CYCLE

EVERY TIME EVERY WHERE CORPORATE PRESENTATION EVERY CYCLE EVERY SHAPE EVERY MOVE Second Quarter FY 2019 Results Briefing August 2019

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 Specific Applications Electronic Components 1 Automotive

2 Q FY 2019 FINANCIAL SUMMARY INCOME STATEMENT FYE Dec (RM’ Million) 2 Q 18 1 Q 19 2 Q 19 q-o-q (%) y-o-y (%) 1 H 18 1 H 19 y-o-y (%) 2, 438. 8 2, 171. 3 2, 133. 6 -1. 7% -12. 5% 4, 564. 2 4, 304. 8 -5. 6% Pretax profit 221. 4 155. 5 123. 4 -20. 6% -44. 2% 431. 6 279. 0 -35. 3% Tax (22. 3) (12. 2) (4. 3) -64. 7% -80. 7% (40. 0) (16. 6) -58. 5% Minority Interest (38. 5) (28. 2) (16. 2) -42. 5% -57. 9% (80. 5) (44. 4) -44. 8% Net Profit 160. 6 115. 1 102. 9 -10. 5% -35. 9% 311. 1 217. 9 -29. 9% EI/Others 0. 0 n. a 0. 0 n. a. Core Profit 160. 6 115. 1 102. 9 -10. 5% -35. 9% 311. 1 218. 0 -29. 9% Core Net Margin (%) 6. 6% 5. 3% 4. 8% 6. 8% 5. 1% Revenue Aluminium market prices & currency movement: FYE Dec (RM’ Million) LME Cash Price (USD/MT) MJP Premium For P 1020 (USD/MT) All-In Aluminium Price (USD/MT) RM: USD 2 Q 18 1 Q 19 2 Q 19 q-o-q (%) y-o-y (%) 1 H 18 1 H 19 y-o-y (%) 2, 259. 0 1, 891. 5 1, 794. 0 -5. 1% -20. 5% 2, 207. 0 1, 828. 8 -17. 1% 129. 0 85. 0 105. 0 23. 5% -18. 6% 116 95. 0 -18. 1% 2, 388. 0 1, 976. 5 1, 899. 0 -3. 9% -20. 4% 2, 323. 0 1, 923. 8 -17. 1% 3. 95 4. 09 4. 15 3. 94 4. 12 2

2 Q FY 2019 FINANCIAL SUMMARY BALANCE SHEET & OTHERS (Figures in RM’ Million) 1 Q 19 2 Q 19 Qo. Q (%) 4, 810. 0 4, 756. 9 -1. 1% 213. 0 199. 9 -6. 1% 1, 355. 2 1, 362. 1 0. 5% Trade Receivables 899. 4 945. 1 5. 0% Trade Payables 509. 7 496. 1 -2. 6% Long Term Borrowing 2, 588. 1 2, 542. 6 -1. 7% Short Term Borrowing 985. 5 1, 080. 9 9. 6% 3, 406. 3 3, 263. 5 -4. 1% Non Controlling Interest 799. 9 793. 0 -0. 8% Cash Flows From Operating Activities 205. 6 165. 0 -19. 7% Cash Flows From Investing Activities (806. 4) (49. 3) 93. 8% Cash Flows From Financing Activities 520. 9 (53. 7) >-100% Net Increase/Decrease In Cash & Cash Equiv (79. 9) (17. 8) 77. 7% Net Gearing Ratio (x) 0. 80 0. 84 5. 0% Single Tier Dividend (sen/share)^ 1. 25 Property, plant and equipment Cash & Cash Equivalent Inventories Shareholders Equity 3

RAW MATERIAL COST MOVEMENT Carbon Anode Prices RMB/tonne USD/tonne 1, 000 4, 100 Alumina Prices 35% 900 3, 900 30% 800 3, 700 25% 3, 500 600 20% 3, 300 500 3, 100 400 15% 300 10% 2, 900 2, 700 2, 500 0% Alumina Price COMMENTERIES • Carbon anode prices have declined from the high of RMB 4, 000 in Sept 2018 to around RMB 3, 400 per tonne in August 19. • Alumina prices has dropped significantly from high of ~USD 417 at beginning of April 2019 to ~USD 297 as at August 2019. • Current Alumina price reflects circa 17% of LME price which is considered as norm. 4 g 19 19 % of LME Au n- 9 r-1 Ap Ju 19 b- Fe ec D O ct -1 -1 8 8 g 18 Au 18 n- 8 Ju r-1 Ap 18 b- ec D Fe -1 7 7 -1 ct O Au g 17 19 9 Au g- l-1 9 Ju n 1 Ju -1 9 9 ay M r-1 Ap -1 9 ar M b 1 9 9 Fe n 1 8 Ja ec -1 D ov N -1 8 8 -1 ct O Se p- 18 0 18 Au g- 5% 100 Norm 16%-17%

INVESTMENT IN ALUMINA ASSETS WORSLEY ALUMINA- Australia PT. BINTAN ALUMINA INDONESIA Acquisition / Investment Acquisition of 50% stake in Japan Alumina Associates (“JAA”) for AUD 250 million Proposed subscription of 25% stake in PT. Bintan Alumina Indonesia (“PT. BAI”) Status Completed on 28 February 2019 • Target commissioning in 4 Q 2020 Key Highlights • JAA owns 10% equity interest in Worsley Alumina Unincorporated Joint Venture ("Worsley UJV"). • Worsley has a production capacity of 4. 6 million tpa, which gives Press Metal effective stake of 230 thousand tpa Investment rationale • Secure stable source of alumina & reduce dependency on 3 rd party suppliers • PT. BAI is a company which is developing alumina refinery with 1 million tpa capacity in Indonesia • Potential expansion plan for additional 1 million tpa • Secure stable source of alumina & reduce dependency on 3 rd party suppliers • Worsley UJV is one of the largest, low cost and longest life alumina producer in the world. 5 • Reduce alumina transportation cost for Press Metal

INVESTMENTS IN SMELTING BUSINESS SAMALAJU PHASE 3 Investment Capacity Revenue (RM’Mill) SMELTING CAPACITY & REVENUE TREND 1, 080 ktpa Development of Phase 3 Smelter at Samalaju Plant with total investment value of approximately RM 1. 5 billion • Up to 320 thousand tonnes per annum (“ktpa”) 760 ktpa • Commissioning in 4 Q 2020 • 15 years PPA for 500 MW PPA Highlights Investment rationale 440 ktpa • 300 MW guaranteed and 200 MW to be made available on a reasonable endeavour basis by SESCO • Increases Press Metal’s smelting capacity by 42% 120 ktpa • With capacity of up to 1. 08 million tpa, Press Metal will continue to be the region’s largest Integrated Aluminium producer 6 FY 09 FY 10 FY 11 FY 12 FY 13 FY 14 FY 15 FY 16 FY 17 FY 18 FY 20 FY 21

POWER SUPPLY IN SARAWAK Energy Demand in Sarawak Current 6, 500 MW 7, 000 MW 2025 SEB’s targeted Energy Supply by 2026 5, 000 MW 1, 182 MW 2010 2, 573 MW 2015 2019 Reserve Margin : 34% Location / Type Capacity Completion Status Balingian Coal Fired Plant Tanjung Kidurong CCGT 624 MW 842 MW 2020/2021 3 Q 2019 Testing Construction Baleh Dam Hydro 1, 285 MW 2025 Construction Source: Sarawak Energy, www. theedgemarkets. com & www. thestar. com. my 7

Historical Borrowings & Gearing Trend Borrowings (RM’Mil) Net Gearing (x) 7, 000. 0 2. 00 1. 71 1. 45 1. 42 1. 25 6, 000. 0 1. 31 0. 97 1. 11 0. 91 1. 50 0. 97 0. 69 5, 000. 0 2, 000. 0 1. 00 0. 50 SAMALAJU PHASE 2 - SAMALAJU PHASE 1 4, 000. 0 3, 000. 0 0. 84 (0. 50) (1. 00) MUKAH PLANT (1. 50) (2. 00) 1, 000. 0 (2. 50) 0 (3. 00) FY 09 FY 10 FY 11 FY 12 FY 13 FY 14 Total Borrowings FY 15 FY 16 FY 17 FY 18 1 HFY 19 Net Gearing STRONG CASH FLOW GENERATION ENABLES PRESS METAL TO REDUCE BORROWINGS RAPIDLY 8

FY 2019 PERSPECTIVES Average FY 2018 ~38. 3 mt Supply CHINA FY 2019 Target 40% PRIMARY INGOT 49% PRIMARY INGOT ~28. 9 mt ROW Demand 10% Net Deficit TOTAL ~0. 8 mt ~37. 4 mt ~30. 6 mt Billet ~50% VAP PRODUC T 60% VAP PRODUCT A 356 Wire Rods SUPPLY DEMAND MARKET FORECAST PRESS METAL’S SALES MIX TARGET 9

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