The document summarizes a $10.8 billion joint venture between Ma'aden and Alcoa in Saudi Arabia to build integrated aluminum infrastructure, including a mine, refinery, smelter and rolling mill. Phase 1 is already operational and producing aluminum ingots, billets and slabs. Phase 2 will further expand production capacity. The project establishes Saudi Arabia's first fully integrated aluminum industry and creates economic opportunities for Saudi citizens through thousands of jobs. It also positions the partners and the Kingdom to capture growth in global aluminum demand driven by population growth, urbanization and rising energy consumption.

1. Infrastructure at work:
The Ma’aden Alcoa $10.8bn JV in the Kingdom of Saudi Arabia
Kenneth P. Wisnoski
President, Alcoa Global Primary Products Growth

2. The Ma’aden Alcoa aluminium joint venture:
first-mover advantage
Mine Refinery Smelter Rolling Mill
• Al Ba’itha mine • Located at Ras Al Khair • Co-located with • Co-located with Smelter
Refinery at Ras Al Khair at Ras Al Khair
• 4.25 MMT annually • First Alumina Refinery
in GCC • 740 – 780 KMT annually • 380 KMT annually
• 30+ years of reserves
•
• 1.8 – 2.1 MMT annually Designed for expansion • Designed for expansion
• North-South railway to
•
transport bauxite • Designed for expansion
Ingots, billets, T-bar and
slabs for Rolling Mill • Body, end & tab stock
for aluminum cans
• Operational 2014 • Operational 2014 • Operational 2013
• Operational 2013
Phase II Phase I
2

3. Foundation for an entire new industry
Government of the Kingdom of Saudi Arabia
2400 MW Ownership in 1,719 km Direct Project Infrastructure
Fuel Port Facilities
Power Plant Ma’aden Railroad Finance Support
Aluminum Project
3

4. “Ultimately the
objective is to create
opportunity and
prosperity for the
citizens of Saudi
Arabia and prosperity
and profits for the
people who invest in
the Kingdom.”
H.E Adel A. Al Jubeir
Saudi Arabian Ambassador to the United States
4

5. Regional and global leaders in partnership
Ma’aden:
 Established as a Saudi Arabian joint stock company in March 1997 to
facilitate the development of Saudi Arabia’s non-petroleum mineral resources
and to diversify the Kingdom’s economy .
 Already a world-class mineral enterprise .
Alcoa:
 Established 1888. World’s leading producer of primary aluminum, fabricated
aluminum and alumina. Operating in 31 countries
 Supplies aerospace, automotive, packaging, building and construction,
commercial transportation, consumer electronics and industrial markets.
5

6. Key Global Megatrends Are Shaping The Future
Population Growth Urbanization Environment
Energy consumption rising
Global population rising Population in cities  Increase of 54% by 2025
 2006: 6.6 billion  2006: > 50%  Driven by developing countries
 2025: 7.9 billion  2030: > 60% Personal transport rising
 2050: 9.1 billion  Increase of 40% by 2030
Greenhouse gas regulation
6

7. Aluminum Will Need Rapid Growth To Meet Demand
Bauxite (MMT/year) Alumina (MMT/year) Aluminum (MMT/year)
400 156 73
Industry
2X 2X 2X Growth:
6.5%
CAGR
214 82 39
2010 2020 2010 2020 2010 2020
19 MMT per year 7 MMT per year 3 MMT per year
~$30 billion in
4x Ma’aden 4x Ma’aden refineries 5x Ma’aden smelters Investments
bauxite mines per year per year per year per year
7

8. Al Baitha
bauxite mine
Railway(600 Ras Al Khair
km) Industrial Complex:
Smelter, Refinery, Rol
ling Mill, Port
8

9. Speed of progress
 Signed JV Agreement December 2009
 Ground break smelter and rolling mill June 2010
 First concrete for smelter October 2010
 Phase 1 financial close November 2010
 Ground break refinery August 2011
 First concrete rolling mill August 2011
 First pot shells on site August 2011
 Phase 2 financial close Today!
First production-smelter and rolling mill 2013
First production-mine and refinery 2014
9

10. World’s longest potrooms: 1.3 km
10

11. “It helps
transform
the landscape
So of all the
joint ventures
going on
today, this one
might be the
most
strategically
important.”
Hon James B. Smith
Ambassador of the United States
to the Kingdom of Saudi Arabia
11

12. 12