Century Aluminum projects Q4 adjusted EBITDA of $170M-$180M while advancing Mt. Holly expansion

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• Net sales for Q3 2025 were $632 million, a $4 million increase primarily due to higher realized Midwest premium, partially offset by lower shipments

  80% confidence

• Jamalco weathered Hurricane Melissa catastrophic storm, protecting the refinery from any significant damage and most importantly, without suffering a single injury

  80% confidence

• Mt. Holly restart total project spend should be somewhere in the neighborhood of $50 million, with the additional volume generating about $25 million in additional EBITDA per quarter

  80% confidence

• Production has restarted at Jamalco refinery and full production is expected to resume within weeks with no material financial impact from the storm

  80% confidence

• Adjusted EBITDA was $101 million for Q3 2025, mainly driven by the increased Midwest premium price

  80% confidence

• There is a clear stated preference for buybacks as the most likely form of capital return once targets are reached

  80% confidence

• Q4 anticipated increases in both LME and Midwest premiums will contribute approximately $65 million incremental EBITDA over Q3 levels

  80% confidence

• Q3 2025 reported net income was $15 million or $0.15 per share, with adjusted net income of $58 million or $0.56 per share excluding exceptional items

  80% confidence

• Insurance policy limits are high enough to cover both the property and business interruption costs of the Grundartangi outage up to and including the 11-12 month timeline

  80% confidence

• Management maintains net debt target of $300 million, anticipating reaching this goal early in 2026

  80% confidence

• The Supreme Court case does not affect Section 232 tariffs

  80% confidence

• Mt. Holly restart is expected to begin in Q2 2026 and be completed by the end of June, with production ramping up throughout the second quarter

  80% confidence

• At current realized prices, we expect Q4 adjusted EBITDA in the range of $170 million to $180 million

  80% confidence

• Timeline for Grundartangi restart is dependent on how quickly replacement transformers can be manufactured, shipped and installed, with current estimates at 11 to 12 months

  80% confidence

• We now expect that we will see an approximately $0.05 year-over-year increase across our 2026 billet sales, which should generate an additional $30 million of 2026 EBITDA

  80% confidence

• Century Aluminum is exploring repairs to reduce Grundartangi downtime and expects insurance coverage for these losses

  80% confidence

• Outstanding global market conditions exist with rising aluminum prices and persistently challenged supply side dynamics

  80% confidence

• The company is not for sale. We are very excited about our prospects

  80% confidence

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