Aluminium Bahrain B.s.c. Gdr Regulatory News (ALBH)

 Media Release - Tuesday 12 May 2026

Alba Reports its Financial Results for the First Quarter of 2026

http://www.rns-pdf.londonstockexchange.com/rns/0574E_1-2026-5-12.pdf

Q1 2026 Financial Performance

Aluminium Bahrain B.S.C. (Alba) (Ticker Code: ALBH), the world's largest aluminium smelter on one site, has reported a Profit attributable to Equity holders of Aluminium Bahrain B.S.C. of BD75.3 million (US$200.3 million) for the first quarter of 2026, up by 316% Year-over-Year (YoY), versus BD18.1 million (US$48.2 million) for the same period in 2025. The Company reported Basic and Diluted Earnings Per Share of fils 53 for Q1 2026 versus fils 13 for the same period in 2025. Total Comprehensive Income attributable to Equity holders of Aluminium Bahrain B.S.C. for Q1 2026 stood at BD76.1 million (US$202.4 million) versus BD16.8 million (US$44.7 million) for the same period in 2025 - up by 353% YoY.

Total Equity attributable to owners of Aluminium Bahrain B.S.C. as of 31 March 2026 stood at BD2,098.7 million (US$5,581.5 million), up by 1%, versus BD2,084.6 million (US$5,544.2 million), as of 31 December 2025. Alba's Total Assets as of 31 March 2026 were BD2,807.6 million (US$7,467 million) versus BD2,623.3 million (US$6,976.8 million) as of 31 December 2025 - up by 7%.

Macro & Market Fundamentals | Based on Market Intelligence

Aluminium Market Dynamics: Demand & Supply | For more insights, refer to Alba's Investor Relations Presentation

§ Global Economy showed positive momentum in Q1 2026, supported by accelerating US manufacturing activity and strong Chinese industrial production and exports.

§ Middle East conflict has introduced increased uncertainty, particularly impacting supply chains and market visibility.

§ Demand remained broadly stable at +0.5% YoY, supported by the packaging, automotive, and electrical sectors.

§ Supply increased by 2% YoY, although this was constrained by structural capacity limits in China. Middle East production declined by c.3% YoY, primarily due to conflict-related curtailments.

§ Market Balance: Global aluminium markets continue to rely on Chinese supply dynamics, with China's production growth lagging consumption (at 45 million MT capacity cap). As a result, the market presents a surplus of +592 kMT including China, while ex‑China markets remain in deficit at -135 kMT.

Aluminium Market Prices, Inventories & Premium

§ LME prices averaged US$3,195/t in Q1 2026, representing a 22% YoY increase, driven by supply disruptions.

§ Regional premiums, including the US Midwest and DDP Rotterdam, increased significantly due to concerns over supply disruptions. The MJP strengthened, supported by the diversion of metal away from Asia toward higher-premium regions.

§ LME inventories dropped to 418,000 MT, down 9% YoY, reflecting precautionary withdrawals and high cancelled warrants.

 Q1 2026 Operational Highlights

§ Sales volume reached 312,563 MT (-17% YoY) reflecting the impact of regional disruptions affecting shipping routes, including constraints through the Strait of Hormuz.

§ Net Finished Production totalled 339,734 MT (-14% YoY) driven by the controlled & safe shutdown of Lines 1-3 in response to prevailing regional tensions.

§ Value Added Products (VAP) accounted for 71% of total shipments, with volumes of 222,626 MT (-16%YoY), reflecting the broader impact on overall shipment activity.

§ Natural gas price is US$ 4.5/MMBTU, effective from 1 January 2026 until 31 December 2026.

§ Strategic Initiatives

o  e‑Al Hassalah continues to demonstrate strong value accretion, delivering US$126.37 million in cumulative benefits since its inception in 2024, with Q1 2026 reflecting a marginal net loss of US$0.52 million.

Update on Aluminium Dunkerque

Alba has entered into an exclusive agreement with American Industrial Partners for the potential acquisition of Aluminium Dunkerque. Following receipt of relevant works council approvals, the Share Purchase Agreement was signed on 6 May 2026. The transaction closing remains subject to regulatory approvals.

Update on Operational Status

In response to prevailing raw material availability conditions, Alba implemented disciplined production curtailment measures across its operations to optimise alumina utilisation, preserve smelter stability, and maintain overall system integrity.

The Company continues to closely monitor inventory levels and key operating parameters, with a focus on maintaining safe, efficient, and reliable operations while preserving operational flexibility.

In parallel, Alba is safeguarding operational continuity through diversified sourcing strategies and flexible logistics solutions, including the utilisation of multiple regional ports and multimodal transport routes for both imports and exports.

Aluminium Market Outlook Amid Global and Regional Uncertainty | Based on Market Intelligence

§ Aluminium prices are expected to remain supported by tightening supply conditions, with upward pressure reflecting the continued imbalance between constrained supply and relatively resilient demand.

§ Global demand growth is likely to be supported by ex‑China markets, with performance dependent on broader macroeconomic conditions and continued exposure to downside risks, including elevated energy costs and inflationary pressures amid ongoing geopolitical uncertainty.

§ Supply dynamics are likely to remain constrained following the Middle East disruption, tightening market balances through reduced availability, with recovery dependent on the timing and pace of smelter restart.

Alba 2026 Priorities

§ Prioritise safe and reliable operations, with a focus on employee safety, operational continuity, and the ability to adapt to regional disruptions.

§ Progress the proposed acquisition of Aluminium Dunkerque, subject to regulatory approvals and ongoing engagement with relevant authorities.

§ Advance sustainability objectives in line with Bahrain's net‑zero ambitions, embedding sustainability practices across operations and the broader value chain.

§ Strengthen product mix through value‑added products and differentiated offerings, supported by certification frameworks, to enhance exposure to more resilient end markets.

§ Drive efficiency through the e‑Al Hassalah programme, leveraging Lean Six Sigma methodologies and AI‑driven initiatives to deliver continuous improvements.

§ Progress key strategic growth initiatives including the construction of Alba Daiki Sustainable Solutions (ADSS), supporting long‑term operational positioning.

Commenting on the Company's performance for the first quarter of 2026, the Chairman of Alba's Board of Directors, Khalid Al Rumaihi stated: "Alba delivered a strong set of results in the first quarter, with Profit attributable to Equity holders increasing to BD75.3 million, reflecting disciplined execution and the inherent strength of the business. Despite lower volumes, our portfolio remained resilient, with Value-Added Products accounting for 71% of shipments - a clear demonstration of our focus on value over volume.

We remain focused on the disciplined execution of our long-term strategic priorities. These include our recently announced agreement to acquire Aluminium Dunkerque, which will further expand Alba's international footprint, building on its strong industrial foundation in Bahrain, while strengthening our global low-carbon aluminium platform."

Alba's Chief Executive Officer, Ali Al Baqali, added: "Alba's first-quarter performance underscores the resilience and flexibility of our operating model in a challenging external environment. While Net Finished Production and Sales Volumes dropped by 14% and 17% respectively, these movements were driven by constraints across key regional shipping corridors.

Our focus remains firmly on the safety of our people, maintaining operational efficiency, disciplined cost control, and reliable delivery while actively managing through external developments."

Alba Management will hold a conference call on Monday 18 May 2026 at 5:30PM Bahrain Time to discuss the Company's financial and operational performance for Q1 2026 and outline its strategic priorities moving forward.

ENDS

About Aluminium Bahrain B.S.C. (Alba)

[Ticker: ALBH]

A Global Aluminium Leader: At plus-1.623 million metric tonnes per annum (mtpa) (2025), Alba is a world-leading aluminium smelter with a proud 50-year legacy in operational excellence, safety, environmental responsibility, and community development.

Trusted Partner: A cornerstone of the Bahrain's economy, Alba produces high-quality aluminium, including standard and value-added products, which are exported to over 280 customers globally. With sales' offices in Europe (Zurich), Asia (Singapore), and a subsidiary in the U.S., Alba is a reliable partner on the world stage. Alba is dually listed on Bahrain Bourse and London Stock Exchange and its shareholders are Bahrain Mumtalakat Holding Company B.S.C. © (69.38%), Saudi Arabian Mining Company (Ma'aden) (20.62%) and General Public (10%). Alba prioritises the highest quality standards, reflected in its certifications: ISO 9001 (quality), ISO 14001 (environment), ISO 27001 (information security), ISO 45001 (occupational health and safety), and ISO 18788 (security operations management). Additionally, Alba demonstrates its commitment to responsible manufacturing through certifications like IATF 16949 (automotive quality), ISO 22301 (business continuity management), ASI Performance and Chain of Custody Standards, and a top 1% Platinum sustainability rating from EcoVadis.

Pioneering Sustainability: As the first aluminium smelter in the Middle East, Alba is central to Bahrain's thriving downstream aluminium sector, contributing significantly to the Kingdom's GDP. Committed to social responsibility, Alba employs a workforce that is 87% Bahrainis (2024) and invests heavily in employee training and development. Alba also plays a crucial role in the Aluminium Downstream Park, therefore increasing the contribution of non-oil sectors to the GDP of Bahrain. Alba has been recognised for its initiatives to produce Aluminium responsibly through awards such as Top ESG performer in Bahrain by ESG Invest, Safeguard Label from Bureau Veritas and Best Corporate Governance Award by Ethical Boardroom. Recognised for its environmental practices, social contributions, and corporate governance, Alba launched a comprehensive ESG Roadmap in 2022 focusing on 6 priority areas: (1) Decarbonisation, (2) Green Energy & Aluminium, (3) Circular Economy & Secondary Aluminium, (4) Employee Welfare, (5) Collaboration & Partnership and (6) Transparency, Communications & Due Diligence. Since its inception, Alba has invested into numerous environment, sustainable and socio-economic development projects that have had a positive impact on the society. Alba's first-of-its-kind US$37.5 million zero-waste Spent Pot Lining Treatment Plant, Power Station 5 Block 4 Project, and the upcoming +6 MW Solar Farm Project are tangible initiatives aligned with Bahrain's Net Zero Carbon Targets by 2060 led by HRH the Crown Prince and Prime Minister of Bahrain. Specifically, Alba's PS5 Block 4 is a new 680.9-megawatt (MW) combined-cycle power plant that expands the existing PS5 facility. Block 4 has increased the nameplate capacity of PS5 Complex from 1,800 MW to 2,481 MW and is reducing the Company's overall GHG emissions intensity ratio by 0.5 tonnes of CO2 per 1 tonne of aluminium produced.

In a significant step towards its ESG goals, particularly its commitment to a circular economy and secondary aluminium, Alba introduced EternAlTM, its new line of low-carbon aluminium products. Launched in May 2024, EternAl offers two product series with multiple variations to meet diverse customer needs: one featuring recycled content, and the other integrating verified in-house carbon offsets.

Safety First, Always: Guided by the motto "Safety First, Safety Always," Alba prioritises the well-being of its employees and contractors. The Company achieved a record-breaking 46 million safe working hours without a lost-time injury in April 2026. The Company has been recognised internationally for its excellent Safety and Health track record with awards such as the RoSPA's Lifetime President and President Awards (10+ Gold Medal Awards), the British Safety Council's International Safety Award with Merit along with 5-Star Audit Rating, as well as numerous awards from the National Safety Council (NSC).

Alba Stakeholder Engagement Plan

Alba prioritises open communication with all its stakeholders, including the community, environmental and social groups. Through its Stakeholder Engagement Plan, the Company proactively addresses environmental and social impacts of its operations, outlining clear mitigation controls. Alba also maintains an external Grievance Mechanism accessible through the Code of Conduct, allowing stakeholders and the public to voice concerns and raise issues.

Scan the above to Alba's Stakeholder Engagement Plan

Alba's External Grievance Mechanism

Alba prioritises ethical conduct and environmental responsibility. Stakeholders, employees, contractors, and the community can confidentially report any potential breaches of Alba's Code of Conduct or raise concerns about environmental and social impacts through the Alba Integrity Line. This independent, multilingual hotline operates 24/7 and is accessible via a toll-free phone number, the company intranet, or the website at www.albasmelter.com.

Scan the above to Alba's Code of Conduct

For further details, please contact:

Eline Hilal

Director Investor Relations & Insurance

Tel: (973) 1783 5100

E-mail: eline.hilal@alba.com.bh

Website: www.albasmelter.com

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