“Challenges & Opportunities in the GCC Aluminum Market”

1. Building Tomorrow Now “Challenges & Opportunities in the GCC Aluminum Market” Dr. Anthony Tropeano CEO FATA Hunter & FATA EPC ARABAL 20 - 22 November 2012 Doha, Qatar

2. FATA - Overview Established in Turin, Italy in 1936, FATA is a diversified group of companies operating in the field of industrial plant engineering, technology, manufacturing and construction. FATA provides equipment, services and full EPC for Upstream, Secondary and Downstream Aluminum industry FATA is a wholly owned subsidiary of Finmeccanica FATA HEADQUARTERS - Torino, Italy FATA LOGISTICS INTEGRATED LOGISTICS SYSTEMS FATA POWER CO-GENERATION COMBINED CYCLE FATA HUNTER METALS ALUMINUM STEEL & STAINLESS STEEL COPPER MAGNESIUM ENGINEER/MFG. OF: CASTING EQUIPMENT ROLLING EQUIPMENT FINISHING EQUIPMENT PACKAGING EQUIPMENT COIL COATING LINES FATA EPC OIL & GAS PETROCHEMICALS REFINERIES PIPELINES GAS GATHERING STATIONS COMPRESSOR STATIONS TANK FARMS METALS PRIMARY ALUMINIUM SECONDARY ALUMINIUM DOWNSTREAM FACILITIES

3. Recent Middle East Projects OARC Aluminium Rolling Mill - Sohar, Oman • The largest aluminum project in Oman • Aluminium rolling mill , 160,000 tpy • Contract Value: USD 300 million • End Date: Aug 2014 • Peak workforce –1600 (Omanis +50%) • WORLDWIDE PROJECTS • 154 Continuous Casting Lines in 31 countries • 79 Hot & Cold Rolling Mills in 29 countries • 99 Foil Rolling Mills in 25 countries • 53 Tension Leveling Lines in 24 countries • 126 Coil Coating Lines in 26 countries • 46 Complete Plants in 20 countries Qatalum Greenfield Smelter - Mesaieed, Qatar • The largest aluminum project in Qatar • Smelter capacity - 595,000 tn/yr • Anode Baking Plant and Casthouse • Contract Value: USD 525 million • End Date: Dec 2010 • Peak workforce –3800 (Qataris +38%) Hormozal Aluminium Smelter - Bandar Abbas, Iran • One of the largest aluminum projects in Iran • Potline expansion - capacity of 147,000 tons/year • Contract Value: USD 560 million • End Date: Dec 2010 • Peak workforce –1500 (Iranians +36%)

4. Downstream Aluminum

5. Global Flat Rolled Products Market • 40% of Primary Al production is used in FRP mfg. • Growth - 4.5% /yr to 2020 (22m mt/y – 2015, 27m mt/y – 2020) • Asia Pacific – 45% global mkt share (6.4% growth/yr to 2015) • Principle FRP end-user sectors: • Packaging - 10m mt/y / 45% mkt share / 5% y-o-y • Transportation – 2.8m mt/y / 13% mkt share / 4% y-o-y • Building/Construction – 2.6m mt/y / 12% mkt share /4.3% y-o-y • Electronics – 2m mt/y / 9% market share / 4.5% y-o-y • Industrial – 1.7m mt/y / 8% market share / 4.7% y-o-y • Strong demand from Emerging Economies • High Growth - India, Thailand, Latin America • Low Growth – N. America, Europe Source: Metal Bulletin

6. GCC Flat Rolled Products Market Demand • Growth - 6% per year • Packaging – $2b/yr market, 37% GCC mkt share (+10% per year) • KSA – Owns 70% of GCC’s Packaging market share Supply • Limited FRP mfg. presently, relies primarily on imports • Current Capacity: Primarily GARMCO (165k mt/y, 72% mkt share), • New Capacity in 2013/2014 – OARC (160k mt/y), Ma’aden (380k mt/y) Import/Export • Imports – 65% to UAE & KSA. ~ 100% of canstock is imported • Exports – 120k mt/y (foilstock/GEQ sheet), 25% to other GCC countries, Europe & USA. Source: Metal Bulletin

7. Primary SMELTER Foundry Extrusion Wire Rod Casting Hot/Cold Rolling Downstream added value Building Materials Automotive Parts Power Cables Air Conditioning Cans Packaging Materials Finished product industry Downstream Aluminum Industry

8. Aluminum Value Chain

9. ROI improves further downstream +450 Billet (LME + 150) Extrusion (LME + 700) +1400 +100 Alumina Foil (LME + 1150) +250 +100 Slab (LME + 150) Pure Al (LME) +550 +30 Sheet/coil (LME + 800) Ingot (LME + 50) +125 +750 Rod (LME + 225) Can (LME + 1000) 80% LME Bauxite +125 • Selling prices indicated as LME + • LME rate based on $2050/ton • Production costs on lines in USD/ton Conductor (LME + 450) Source: Frost & Sullivan Downstream Aluminum Value Stream

10. Aluminum Flat Products Process Routes Molten metal from smelter 3 process route options below Melting & Holding Furnace Suitable for all products 1 Slab Saw Slab Preheating Furnace Hot Rolling Mill Hot Rolled Coils D.C. Slab Caster Scalper Suitable for most products although there are 1 or 2 products not fully commercially proven 2 Shear Belt Caster Pinch Rolls Winders Warm Tandem Mill 3 Suitable mainly for foil products Furnace Winder Roll Caster

11. Aluminum Hot Rolling Mill Capacities - Up to 100,000 / 150,000 t/y capacity - Mini. thickness down to = 7 mm - Conventional products One Coiler Single stand reversing mill - Up to 150,000 / 200,000 t/y capacity - Mini. thickness down to = 2.7 mm - Conventional and sophisticated products Twin Coiler Single stand reversing mill - Up to 200,000 / 250,000 t/y capacity - Mini. thickness down to = 2.5 mm - Conventional and sophisticated products Breakdown reversing stand and Twin Coiler Finishing mill - Up to 400,000 / 600,000 t/y capacity - Mini. thickness down to = 2.5 mm - Full range of products Breakdown reversing stand and multi-stand Finishing Tandem mill

12. Recycle/Remelt Opportunities • Steel • Aluminum • Dross - Primary/Secondary/Fines • End User Goods • Production scrap • Spent pot linings • Salt slags • Filter fines • Zero Waste Solution

13. Aluminum Products Packaging

14. Aluminum Products Transportation

15. Aluminum Products Buildings/Cladding

16. Aluminum Products Architectural/Appliances • Profiled sheet aluminum • Shutters • Guttering • Siding panels • Window sills • Porch roofs • Roof flashings • Solar panel frames • Sun blinds • Roofing tiles • Roller shutters • Door fill panels

17. Summary/Conclusions

18. Market Attractiveness Can stock Sheet / coil High Foil Conductor Rod Composites, slugs, castings Medium Industry attractiveness (global market) Low Al alloys, powder High Medium Low Competitive strength in Middle East Source: Frost & Sullivan

19. GCC Aluminum Industry Focus • Downstream Development • Integration of Aluminum clusters • Industrial Diversification • Jobs/Wealth Creation • Reduction of Import reliance • Timing is critical (China, GCC competition) • Recycling/remelting opportunities • Choosing the right partner(s)

20. “FATA Hunter & FATA EPC – We’re Building Tomorrow NOW.” Thank you for your attention. Dr. Anthony Tropeano CEO