Ranshofen, 04 July 2025 

AMAG Austria Metall AG: Memorandum of Understanding signed to conclude a new electricity contract for the Alouette smelter 

The shareholders of the Canadian aluminium smelter \"Aluminerie Alouette Inc.\" (Alouette), in which AMAG Austria Metall AG (AMAG) holds a 20% stake, the government of the Canadian province of Québec and the state-owned electricity provider Hydro-Québec have today agreed on key framework conditions for a new long-term electricity contract. A Memorandum of Understanding (MoU) has been signed, on the basis of which the contract is now being finalised.

The new electricity contract should enable the purchase of 1,085 MW from 01 January 2030 to 31 December 2045. As defined in the current electricity contract, the electricity price depends on the price of aluminium and the Midwest premium (risk-sharing contract). The conditions set out in the Memorandum of Understanding therefore guarantee Alouette's long-term energy supply at competitive prices.

By concluding a new electricity contract, Alouette is committing itself, among other things, to making investments in the coming years that will support the sustainable and profitable development of the company.

Alouette is the largest smelter in the Americas with a total annual capacity of over 620,000 tonnes of primary aluminium.

Investor contact

Christoph M. Gabriel

Head of Investor Relations and Issuer Compliance

AMAG Austria Metall AG

Lamprechtshausener Straße 61

5282 Ranshofen, Austria

Tel: +43 (0) 7722-801-3821

Email: investorrelations@amag.at

Website: www.amag-al4u.com