Hindalco Industries Limited

110 million

m inputs Q3 Fiscal Year 2025 Highlights • Net income attributable to our common shareholder of $110 million, down 9% YoY; Net income attributable to our common shareholder excluding special items was $119

9%

al Year 2025 Highlights • Net income attributable to our common shareholder of $110 million, down 9% YoY; Net income attributable to our common shareholder excluding special items was $119 million,

119 million

lion, down 9% YoY; Net income attributable to our common shareholder excluding special items was $119 million, down 32% YoY • Adjusted EBITDA of $367 million, down 19% YoY • Rolled product shipments of 904

32%

Net income attributable to our common shareholder excluding special items was $119 million, down 32% YoY • Adjusted EBITDA of $367 million, down 19% YoY • Rolled product shipments of 904 kilotonne

367 million

common shareholder excluding special items was $119 million, down 32% YoY • Adjusted EBITDA of $367 million, down 19% YoY • Rolled product shipments of 904 kilotonnes, down 1% YoY • Adjusted EBITDA per t

19%

er excluding special items was $119 million, down 32% YoY • Adjusted EBITDA of $367 million, down 19% YoY • Rolled product shipments of 904 kilotonnes, down 1% YoY • Adjusted EBITDA per tonne shipp

1%

Adjusted EBITDA of $367 million, down 19% YoY • Rolled product shipments of 904 kilotonnes, down 1% YoY • Adjusted EBITDA per tonne shipped of $406, down 19% YoY ATLANTA, February 10, 2025 – Nove

63%

footprint," said Steve Fisher, president and CEO, Novelis Inc. "With a leading industry average of 63% recycled content in our products in our last fiscal year, Novelis has been a pioneer in using recy

4%

scal Year 2025 Financial Highlights Net sales for the third quarter of fiscal year 2025 increased 4% versus the prior year period to $4.1 billion, mainly driven by higher average aluminum prices as t

4.1 billion

Net sales for the third quarter of fiscal year 2025 increased 4% versus the prior year period to $4.1 billion, mainly driven by higher average aluminum prices as total rolled product shipments of 904 kilotonn

263 million

er tonne was down 19% year-over-year to $406. Net cash flow provided by operating activities was $263 million in the first nine months of fiscal year 2025 compared to $420 million in the prior fiscal year per

420 million

by operating activities was $263 million in the first nine months of fiscal year 2025 compared to $420 million in the prior fiscal year period, primarily due to lower net income and unfavorable changes in worki

Special Items

2

Notes

2

Media Contact

1

Investor Contact

1

Current assets

1

Current liabilities

1

Investor Contact

Megan Cochard +1 404 760 4170 megan.cochard@novelis.adityabirla.com 3 Novelis Inc. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited) 2023 $ 4,080 $ 3,935 $ 12,562 $ 2023 12,133 (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 loss (income) of non-consolidated affiliates Other (income) expenses, net Income before income tax provision Income tax provision Net income Net income attributable to our common shareholder $ 3,516 179 142 66 25 — 6 1 (4) 3,931 149 39 110 110 $ 3,309 189 139 73 24 — 26 6 (6) 3,760 175 54 121 121 $ 10,607 543 423 210 75 — 46 (2) 121 12,023 539 150 389 389 $ 10,287 545 406 228 72 5 33 (1) (35) 11,540 593 159 434 434 4 Novelis Inc. CONDENSED CONSOLIDATED BALANCE S

Current assets

Cash and cash equivalents Accounts receivable, net — third parties (net of allowance for uncollectible accounts of $6 and $7 as of December 31, 2024, and March 31, 2024, respectively) — related parties Inventories Prepaid expenses and other current assets Fair value of derivative instruments Assets held for sale 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 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; 600,000,000 shares issued and outstanding as of December 31, 2024, and March 31, 2024 Additional paid-in capital Retained earnings Accumulated other comprehensive loss Total equity of our common shareholder Noncontrolling interest Total equity Total liabilities and equity December 31, 2024 March 31, 2024 $ 791 $ 1,309 1,944 120 2,924 220 110 6 6,115 6,493 1,071 514 879 150 1,760 161 2,515 152 45 1 5,943 5,741 1,074 545 905 143 260 5 15,487 $ 274 3 14,628 29 $ 1,019 3,266 249 192 625 5,380 4,997 221 517 289 11,4

Special Items

Loss on extinguishment of debt, net Metal price lag Restructuring and impairment expenses, net Sierre flooding(1) Tax effect on special items Net income attributable to our common shareholder, excluding special items Three Months Ended December 31, 2023 2024 2023 $ 110 $ 121 $ 389 $ 434 — — 6 5 (2) — 45 26 — (18) — (14) 46 106 (25) 5 62 33 — (25) $ 119 $ 174 $ 502 $ 509 8 _________________________ (1) On June 30, 2024, our plant located in Sierre, Switzerland was impacted by exceptional flooding caused by unprecedented heavy rainfalls. As a result of this event, the Company recognized charges of $5 million and $106 million in the three and nine months ended December 31, 2024, respectively. 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 December 31, 2024 Adjusted EBITDA North America Europe Asia South America Eliminations and Other T

Notes

1. Special items includes loss on extinguishment of debt, metal price lag, restructuring and impairment expenses, the Sierre flooding, and tax effect on special items. See appendix for a reconciliation of special items. 5 Novelis Q3FY25 Earnings 15,43 15,43 Q3 Adjusted EBITDA Bridge vs. prior year $ m i l l i o n s 454 (9) (23) 21 367 7 (83) Q3FY24 Volume Price/Mix Operating Cost FX SG&A & Other Q3FY25 Year-over-year decline primarily driven by lower metal benefit from higher scrap prices 6 Novelis Q3FY25 Earnings 15,43 15,43 Q3 Segment Results Adjusted EBITDA ($ millions) Total FRP Shipments (kts) North America Europe $250 $200 $150 $100 $50 $0 $150 $125 $100 $75 $50 $25 $0 $165 $122 Q3FY24 Q3FY25 $59 $49 Q3FY24 Q3FY25 400 350 300 250 200 150 100 50 0 300 250 200 150 100 50 0 7 Novelis Q3FY25 Earnings Q3 Shipments -1%, Adjusted EBITDA -26% • Higher automotive shipments offset by lower specialties • Flat beverage packaging shipments due to planned plant downtime; demand remains strong

Notes

1. Can CRU Aluminum Beverage Can Sheet Market Outlook 2024 (excluding China), 2024-2031; Automotive Management Estimates FY2025 – 2030; Aerospace Management Estimates 2023 – 2030 11 Novelis Q3FY25 Earnings 15,43 15,43 Bay Minette Project Update • • $4.1 billion rolling & recycling facility in Bay Minette, Alabama, in the US 600kt total finished good capacity upon completion – – 420kt initially targeted to beverage packaging 180kt capacity targeted primarily for automotive, but flexible for other FRP end markets as well – Expect to begin commissioning 2nd half CY2026 • Novelis North America beverage packaging capacity contracted Bay Minette site and construction, January 15, 2025 • Novelis intends to fund the capex through internally generated cash flow and debt financing – $1.3 billion capital expenditures spent through end of Q3FY25 12 Novelis Q3FY25 Earnings Recycle/remelt center kiln installation 15,43 15,43 Summary • Resilient market demand, with strong growth expected to continue