Hindalco Industries Limited

96 million

Q1 Fiscal Year 2026 Highlights • • • • Net income attributable to our common shareholder of $96 million, down 36% YoY; Net income attributable to our common shareholder excluding special items was $116

36%

2026 Highlights • • • • Net income attributable to our common shareholder of $96 million, down 36% YoY; Net income attributable to our common shareholder excluding special items was $116 million, d

116 million

lion, down 36% YoY; Net income attributable to our common shareholder excluding special items was $116 million, down 43% YoY Adjusted EBITDA of $416 million, down 17% YoY Rolled product shipments of 963 kilo

43%

; Net income attributable to our common shareholder excluding special items was $116 million, down 43% YoY Adjusted EBITDA of $416 million, down 17% YoY Rolled product shipments of 963 kilotonnes, up

416 million

our common shareholder excluding special items was $116 million, down 43% YoY Adjusted EBITDA of $416 million, down 17% YoY Rolled product shipments of 963 kilotonnes, up 1% YoY Adjusted EBITDA per tonne sh

17%

older excluding special items was $116 million, down 43% YoY Adjusted EBITDA of $416 million, down 17% YoY Rolled product shipments of 963 kilotonnes, up 1% YoY Adjusted EBITDA per tonne shipped of $

1%

YoY Adjusted EBITDA of $416 million, down 17% YoY Rolled product shipments of 963 kilotonnes, up 1% YoY Adjusted EBITDA per tonne shipped of $432, down 18% YoY ATLANTA, August 11, 2025 – Novelis In

18%

led product shipments of 963 kilotonnes, up 1% YoY Adjusted EBITDA per tonne shipped of $432, down 18% YoY ATLANTA, August 11, 2025 – Novelis Inc., a leading sustainable aluminum solutions provider and

100 million

efficiencies. We believe these actions will accelerate anticipated run-rate cost savings to over $100 million by the end of this fiscal year, exceeding our previously estimated target of approximately $75 mil

75 million

illion by the end of this fiscal year, exceeding our previously estimated target of approximately $75 million." First Quarter Fiscal Year 2026 Financial Highlights Net sales for the first quarter of fiscal y

13%

iscal Year 2026 Financial Highlights Net sales for the first quarter of fiscal year 2026 increased 13% versus the prior year period to $4.7 billion, mainly driven by higher average aluminum prices and

4.7 billion

Net sales for the first quarter of fiscal year 2026 increased 13% versus the prior year period to $4.7 billion, mainly driven by higher average aluminum prices and a 1% increase in total rolled product shipmen

“Cash and cash equivalents Availability under committed credit facilities 886 1,071 1,288 988 (in $ m) Q1 Q2 Q3 791 790 Q4 FY25 1,036 1,739 1,036 1,739 Q1 FY26 1,074 1,958 Liquidity $2,174 $2,059 $1,581 $2,775 $2,775 $3,032 19 Novelis Q1FY26 Earnings 15,43 15,43 Reconciliation of Net income attributable to our common shareholder, excluding special items Net income attributable to our common shareholder $151 $128 $110 $294 $683 (in $ m) Q1 Q2 Q3 Q4 FY25”

“Loss on extinguishment of debt, net Metal price lag loss (gain) Restructuring and impairment expenses, net Sierre flooding, net of recoveries (1) Start-up costs (2) Tax effect on special items - 7 19 40 - - (21) 21 61 - - - 6 5 - (13) (10) (2) 7 (55) 7 (1) - 10 7 (69) 53 105 - (15) Q1 FY26 $96 - (69) 85 6 5 (7) Net income attributable to our common shareholder, excluding special items $204 $179 $119 $262 $764 $116 1.”

Special Items

2

Media Contact

1

Investor Contact

1

Current assets

1

Current liabilities

1

Notes

1

Investor Contact

Megan Cochard +1 404 760 4170 julie.groover@novelis.adityabirla.com megan.cochard@novelis.adityabirla.com 3 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 Restructuring and impairment expenses, net Equity in net income of non-consolidated affiliates Other (income) expenses, net Income before income tax provision Income tax provision Net income Net loss attributable to noncontrolling interest Net income attributable to our common shareholder 2024 $ 4,717 $ 4,076 175 148 67 22 85 (1) (1) 4,571 146 50 96 — $ 96 $ 4,187 3,481 181 140 72 25 19 (1) 60 3,977 210 60 150 (1) 151 4 Novelis Inc. CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited) (in millions, except number of shares) ASSETS

Current assets

Cash and cash equivalents Accounts receivable, net — third parties (net of allowance for uncollectible accounts of $7 as of June 30, 2025, and March 31, 2025) — 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 Liabilities held for sale 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 June 30, 2025, and March 31, 2025 Additional paid-in capital Retained earnings Accumulated other comprehensive loss Total equity of our common shareholder Noncontrolling interest Total equity Total liabilities and equity June 30, 2025 March 31, 2025 $ 1,074 $ 1,036 2,120 178 3,293 238 165 21 7,089 7,148 1,079 502 998 190 2,073 136 3,054 234 176 6 6,715 6,851 1,074 509 912 188 296 4 17,306 $ 263 3 16,515 33 $ 320 32 348 $ $ 3,703 322 131 1

Special Items

Metal price lag Restructuring and impairment expenses, net Sierre flood losses, net of recoveries(1) Start-up costs(2) Tax effect on special items 2024 $ 96 $ 151 (69) 85 6 5 7 19 40 — (7) (13) Net income attributable to our common shareholder, excluding special items _________________________ (1) Sierre flood losses, net of recoveries relate to non-recurring non-operating charges from exceptional flooding at our Sierre, Switzerland plant 116 $ 204 $ (2) caused by unprecedented heavy rainfall, net of the related property insurance recoveries. In the quarter ended June 30, 2025, we incurred $5 million of start-up costs related to the construction of a rolling and recycling plant in Bay Minette, Alabama. All of these costs are included in Selling, general and administrative expenses. 8 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 Ju

Notes

1. Special items includes loss on extinguishment of debt, metal price lag, restructuring and impairment expenses, Sierre flooding, start-up costs, and tax effect on special items. See appendix for a reconciliation of special items. 5 Novelis Q1FY26 Earnings 15,43 15,43 Q1 Adjusted EBITDA Bridge vs. prior year $ m i l l i o n s 500 15 (7) 13 1 416 (106) Q1FY25 Volume Price/Mix Operating Cost FX SG&A & Other Q1FY26 6 Novelis Q1FY26 Earnings 15,43 15,43 Q1 Segment Results Adjusted EBITDA ($ millions) Total FRP Shipments (kts) North America Europe $250 $200 $150 $100 $50 $0 $125 $100 $75 $50 $25 $0 $183 $133 Q1FY25 Q1FY26 $90 $70 400 350 300 250 200 150 100 50 0 300 250 200 150 100 50 0 Q1FY25 Q1FY26 7 Novelis Q1FY26 Earnings Q1 Shipments flat, Adjusted EBITDA -27% • Higher beverage packaging shipments offset by lower automotive and specialties shipments • Lower metal benefit due to higher scrap prices • Net negative tariff impact • Favorable product pricing Q1 Shipments flat, Adjusted EBI

Special Items

Loss on extinguishment of debt, net Metal price lag loss (gain) Restructuring and impairment expenses, net Sierre flooding, net of recoveries (1) Start-up costs (2) Tax effect on special items - 7 19 40 - - (21) 21 61 - - - 6 5 - (13) (10) (2) 7 (55) 7 (1) - 10 7 (69) 53 105 - (15) Q1 FY26 $96 - (69) 85 6 5 (7) Net income attributable to our common shareholder, excluding special items $204 $179 $119 $262 $764 $116 1. 2. Sierre flood losses, net of recoveries relate to non-recurring non-operating charges from exceptional flooding at our Sierre, Switzerland plant caused by unprecedented heavy rainfall, net of the related property insurance recoveries. In the quarter ended June 30, 2025, we incurred $5 million of start-up costs related to the construction of a rolling and recycling plant in Bay Minette, Alabama. All of these costs are included in Selling, general and administrative expenses. 20 Novelis Q1FY26 Earnings