Hindalco Industries Limited

156 million

Results Q4 Fiscal Year 2023 Highlights • Net income attributable to our common shareholder was $156 million, down 27% YoY • Net income from continuing operations excluding special items was $175 million, d

27%

l Year 2023 Highlights • Net income attributable to our common shareholder was $156 million, down 27% YoY • Net income from continuing operations excluding special items was $175 million, down 7% YoY

175 million

s $156 million, down 27% YoY • Net income from continuing operations excluding special items was $175 million, down 7% YoY • Adjusted EBITDA of $403 million, down 6% YoY • Shipments of 936 kilotonnes, down

7%

wn 27% YoY • Net income from continuing operations excluding special items was $175 million, down 7% YoY • Adjusted EBITDA of $403 million, down 6% YoY • Shipments of 936 kilotonnes, down 5% YoY

403 million

continuing operations excluding special items was $175 million, down 7% YoY • Adjusted EBITDA of $403 million, down 6% YoY • Shipments of 936 kilotonnes, down 5% YoY • Adjusted EBITDA per ton shipped of $4

6%

ons excluding special items was $175 million, down 7% YoY • Adjusted EBITDA of $403 million, down 6% YoY • Shipments of 936 kilotonnes, down 5% YoY • Adjusted EBITDA per ton shipped of $431, compa

5%

down 7% YoY • Adjusted EBITDA of $403 million, down 6% YoY • Shipments of 936 kilotonnes, down 5% YoY • Adjusted EBITDA per ton shipped of $431, compared to $437 prior year Full Fiscal Year 202

658 million

year Full Fiscal Year 2023 Highlights • Net income attributable to our common shareholder was $658 million, down 31% YoY; Net income from continuing operations excluding special items was $781 million, do

31%

l Year 2023 Highlights • Net income attributable to our common shareholder was $658 million, down 31% YoY; Net income from continuing operations excluding special items was $781 million, down 16% YoY

781 million

as $658 million, down 31% YoY; Net income from continuing operations excluding special items was $781 million, down 16% YoY • Adjusted EBITDA of $1.8 billion, down 11% YoY • Shipments of 3,790 kilotonnes,

16%

own 31% YoY; Net income from continuing operations excluding special items was $781 million, down 16% YoY • Adjusted EBITDA of $1.8 billion, down 11% YoY • Shipments of 3,790 kilotonnes, down 2% Yo

1.8 billion

ontinuing operations excluding special items was $781 million, down 16% YoY • Adjusted EBITDA of $1.8 billion, down 11% YoY • Shipments of 3,790 kilotonnes, down 2% YoY • Adjusted free cash flow from conti

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Investor Contact

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Current assets

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Current liabilities

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Special Items

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a. Press Release & Investor Presentation of Novelis Inc. (wholly owned subsidiary) of Hindalco Industries Limited (“the Company”) Results for Q4 & Financial year ended March 31,2023

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a. Regulation 30 of the Securities Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“Listing Regulations”) b. ISIN: INE038A01020 ________________________________________________________________________________ Enclosed herewith the Press release and Investor Presentation of Novelis Inc. results for Q4 & Financial Year ended March 31, 2023. Sincerely, for Hindalco Industries Limited Geetika Anand Company Secretary & Compliance Officer Hindalco Industries Limited 6th & 7th Floor, Birla Centurion, Pandurang Budhkar Marg, Worli, Mumbai – 400030, India T:+91 22 66626666/62610555 | F:+912262610400/62610500 | W: www.hindalco.com Registered Office : Ahura Centre, 1st Floor, B wing, Mahakali Caves Road, Andheri (East), Mumbai – 400093, India Corporate ID No: L27020MH1958PLC011238 News Release Novelis Reports Fourth Quarter and Full Fiscal Year 2023 Results Q4 Fiscal Year 2023 Highlights • Net income attributable to our common shareholder was $156 mill

Investor Contact

Megan Cochard +1 404 760 4170 megan.cochard@novelis.adityabirla.com 4 Novelis Inc. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited) (in millions) Net sales Cost of goods sold (exclusive of depreciation and amortization) Selling, general and administrative expenses Depreciation and amortization Interest expense and amortization of debt issuance costs Research and development expenses Loss on extinguishment of debt, net Restructuring and impairment expenses, net Equity in net income of non-consolidated affiliates Other expenses (income), net Income from continuing operations before income tax provision Income tax provision Net income from continuing operations Loss from discontinued operations, net of tax Net loss from discontinued operations Net income Net income (loss) attributable to noncontrolling interest Net income attributable to our common shareholder Three Months Ended March 31, 2022 2023 2022 174 145 54 24 1 — — 25 679 540 274 95 — 33 (16) 79 $ 4,397 $ 4,849 $ 18,486

Current assets

Cash and cash equivalents Accounts receivable, net — third parties (net of allowance for uncollectible accounts of $5 and $6 as of March 31, 2023, and March 31, 2022, respectively) — related parties Inventories Prepaid expenses and other current assets Fair value of derivative instruments Assets held for sale Current assets of discontinued operations Total current assets Property, plant and equipment, net Goodwill Intangible assets, net Investment in and advances to non–consolidated affiliates Deferred income tax assets Other long-term assets — third parties — related parties Total assets LIABILITIES AND SHAREHOLDER’S EQUITY

Current liabilities

Current portion of long-term debt Short-term borrowings Accounts payable — third parties — related parties Fair value of derivative instruments Accrued expenses and other current liabilities Current liabilities of discontinued operations Total current liabilities Long-term debt, net of current portion Deferred income tax liabilities Accrued postretirement benefits Other long-term liabilities Total liabilities Commitments and contingencies Shareholder’s equity Common stock, no par value; unlimited number of shares authorized; 1,000 shares issued and outstanding as of March 31, 2023, and March 31, 2022 Additional paid-in capital Retained earnings Accumulated other comprehensive loss Total equity of our common shareholder Noncontrolling interest Total equity Total liabilities and equity March 31, 2023 March 31, 2022 $ 1,498 $ 1,070 1,751 156 2,729 178 145 3 — 6,460 4,900 1,076 589 877 166 2,590 222 3,038 195 377 5 6 7,503 4,624 1,081 623 832 158 293 3 14,364 $ 274 1 15,096 88 $ 671 3,100

Special Items

Gain on sale of a business Loss on extinguishment of debt, net Metal price lag Restructuring and impairment expenses, net Tax effect on special items Net income from continuing operations, excluding special items $ 2022 2022 $ 156 $ 217 $ 659 $ 1,018 — — — 26 (7) 175 $ — 1 (39) — 10 189 $ — — 130 33 (41) 781 $ (15) 64 (166) 1 32 934 10 Segment Information (unaudited) The following tables present selected segment financial information (in millions, except shipments which are in kilotonnes). Selected Operating Results Three Months Ended March 31, 2023 Adjusted EBITDA North America Europe Asia South America Eliminations and Other Total $ 131 $ 91 $ 72 $ 115 $ (6) $ 403 Shipments (in kt) Rolled products – third party Rolled products – intersegment Total rolled products 363 — 363 244 4 248 185 2 187 144 — 144 — (6) (6) 936 — 936 Selected Operating Results Three Months Ended March 31, 2022 Adjusted EBITDA North America Europe Asia South America Elimination s and Other Total $ 105 $ 73 $ 96 $