Regions Aluminium Production

China 54%
Africa 3%
EU+EFTA 7%
Middle East 9%
North America 7%
Oceania 3%
Rest of Asia 7%
Russia amd Rest of Europe 7%
South America 3%

Year 2014 2015

Aluminium Production (000' tonnes 53127 55792
Aluminium Consumption (000' tonn 52108 54339
Deficit (000' tonnes) 1019 1453
Aluminium Price (USD/tonne) 1895 1681

Aluminium Global Supply & Dmand

70000
60000
50000
40000
30000
20000
10000
0
2014 2015 2016 2017 2018f 2019f 2020f 2021f
-10000
Al umi ni um Production (000' tonnes )
Al umi ni um Consumption (000' tonnes )
Defici t (000' tonnes)
20000
10000
0
2014 2015 2016 2017 2018f 2019f 2020f 2021f
-10000
Al umi ni um Production (000' tonnes )
Al umi ni um Consumption (000' tonnes )
Defici t (000' tonnes)
 Aluminium Production
60%
50%
40%
30%
20%
10%
0%
t
i na ri ca F TA
Ea
s i ca ni
a
si
a
op
e i ca
Ch Af +E e er ea A ur er
EU dl Am Oc t of f E Am
id rth
s o th
M Re st ou
No Re S
d
am
a
s si
Ru

Source – European Aluminium Statistics, CRU 2017

2016 2017 2018f 2019f 2020f 2021f

55904 57440 59115 60769 62374 63965
55796 57735 59606 61822 64070 66042
108 -295 -491 -1053 -1696 -2077
1610 1950 2000 2050 2100 2150

Source – BMI Aluminium Report | Q2 2018

Aluminium Price (USD/tonne)

2500

2000

1500

1000

500

0
2014 2015 2016 2017 2018f 2019f 2020f 2021f
1000

500

0
2014 2015 2016 2017 2018f 2019f 2020f 2021f
2020f 2021f
2020f 2021f
 Geographical Segment Analysi

ALERIS SEGMENT INCOME (Million $)

FY 2018 2017 2016
North America 1467 1365 1532
Europe 1300 1222 1335
Asia Pacific 122 100 96
South America 0 0 0
Total segment income 2889 2687 2963

ALERIS SEGMENT INCOME

2018 2017 2016
North America 51% 51% 52%
Europe 45% 45% 45%
Asia Pacific 4% 4% NA
South America 0% 0% 0%
Total segment income 100% 100% 100%

40%
60%
35%
35%
51% 51% 52%
30%
50% 30%
45% 45% 45%

40% 25%

18%
20%
17%
30%
15%
20% 10%

10% 5%
4% 4%
0%
0% 2018
2018 2017 2016
North Ameri ca Europe As i a Paci fic
ical Segment Analysis

NOVELIS SEGMENT INCOME (Million $)

FY 2018 2017 2016
North America 3951 3228 3266
Europe 3447 2968 3223
Asia Pacific 2110 1791 1992
South America 1931 1510 1575
Total segment incom 11439 9497 10056

Source - Aleris and Novelis Annual Report March'18

NOVELIS SEGMENT INCOME

2018 2017 2016
North America 35% 34% 32%
Europe 30% 31% 32%
Asia Pacific 18% 19% 20%
South America 17% 16% 16%
Total segment incom 100% 100% 100%

40%
35% 34%
35% 32%
31% 32%
30%
30%

25%

19% 20%
18%
20%
17% 16% 16%
15%

10%

5%

0%
2018 2017 2016
North Ameri ca Europe
Asi a Paci fic South Ameri ca
ual Report March'18
 Aleris Business Segments

Construction 24%
Aerospace 14%
Automotive 13%
Distribution 22%
Heat exchangers 9%
Truck trailers 8%
Others 10%

Aleris Revenue Segments

10.00% 24.00%
8.00%
9.00%
14.00%
22.00%
13.00%

Construction Aeros pace Automotive Di stri bution

Heat exchangers Truck trai l ers Others Beverag
Novelis Business Segments

Beverage cans 60%

Automotive 18%
Speciality and Others 22%

Source - Aleris and Novelis Annual Report March'18

Novelis Revenue Segments

22.00%

18.00% 60.00%

Beverage ca ns Automotive Speci al i ty and Others

ort March'18
ALERIS CORPORATION CONSOLIDATED STATEMENT OF
OPERATIONS

Financial Year 2018 2017 2016

Revenues ### ### ###
Cost of sales ### ### ###
Gross profit 259.4 287.9 214.9
Restructuring charges 2.9 1.5 10.3
Losses on derivative financial instruments 44.7 12.1 6.9
Other operating expense, net 5.7 3.9 2.5
Operating (loss) income -14.7 51.9 -8.3
Interest expense, net 124.1 82.5 94.1
Other expense (income), net 35.2 1.7 -7.4
Loss from continuing operations before income -174 -32.3 -95
Provision for (benefit from) income taxes 40.4 40 -22.7
Loss from continuing operations -214.4 -72.3 -72.3
Income (loss) from discontinued operations, net 3.8 -3.3 121.1
Net (loss) income -210.6 -75.6 48.8
Net income from discontinued operations attributable — — 0.1
Net (loss) income attributable to Aleris Corporation -210.6 -75.6 48.7

ALERIS CORPORATION STATEMENT OF

COMPREHENSIVE INCOME
Financial Year 2018 2017 2016
Net (loss) income -210.6 -75.6 48.8
Other comprehensive income (loss), before tax:
Currency translation adjustments 82 -29.7 -80.3
Reclassification into earnings due to the sale of busines— — 45.2
Pension and other postretirement liability adjustments 2.7 -16.1 21.6
Other comprehensive income (loss), before tax 84.7 -45.8 -13.5
Income tax expense (benefit) related to items of other 1.7 -5 8.3
Other comprehensive income (loss), net of tax 83 -40.8 -21.8
Comprehensive (loss) income -127.6 -116.4 27
Comprehensive income attributable to noncontrolling in— — 0.1
Comprehensive (loss) income attributable to Aleris Corp -127.6 -116.4 26.9
ALERIS CORPORATION CONSOLIDATED BALANCE SHEET

Financial Year 2018 2017

ASSETS
Cash and cash equivalents 102.4 55.6
Accounts receivable 245.7 218.7
Inventories 631.2 538.9
Prepaid expenses 36.1 33.4
Total Current ### 846.6
Property, plant and ### ###
Intangible assets, 34.7 36.8
Deferred income 70.7 88.3
Other long-term 52.7 72.2
Total Assets ### ###

LIABILITIES AND STOCKHOLDER'S EQUITY

Current Liabilities
Accounts payable 299.2 246.6
Accrued liabilities 197.4 201.4
Current portion of long-term debt 9.1 27.7
Total Current Liabilities 505.7 475.7
Long-term debt ### ###
Deferred income taxes 4 2.8
Accrued pension benefits 170.2 158.4
Accrued postretirement benefits 34.3 34.2
Other long-term liabilities 66.1 63.7
Total Long-Term Liabilities ### ###

Stockholders’ Equity
Common stock; par value $.01; 0.3 0.3
Preferred stock; par value $.01; — —
Additional paid-in capital 436.3 428
Retained (deficit) earnings -203.4 11.8
Accumulated other comprehensive -140.50 -223.5
Total Equity 92.7 216.6
Total Liabilities and Equity ### ###
Financial Year 2018 2017
Return on Assets -7.96% -3.16%
Return on Equity ### -34.90%
Current Ratio 2.00791 1.77969
Quick Ratio 0.68835 0.57662
Debt to Equity Ratio 27.5264 10.0337

Source - Aleris and Novelis Annual Report March'18

nnual Report March'18
RATIOS
2018 2017 2016
Operating -6.98% -68.65% -17.04%
Return on#DIV/0! #DIV/0!
Return on#DIV/0! #DIV/0!
Current R#DIV/0! #DIV/0!
Quick Rat#DIV/0! #DIV/0!
Debt to E#DIV/0! #DIV/0!