Alro S.A.

Earnings Release • Jan 20, 2023

No. 6/20.01.2023

Current Report

To: Financial Supervisory Authority Bucharest Stock Exchange

Current report in compliance with the stipulations of the Law no. 24/2017 (republished) and of the FSA Regulation no. 5/2018 (subsequently amended and updated) regarding the Issuers of financial instruments and market operations

Date of report: 20 January 2023 Name of issuer: Alro S.A. Headquarters: Slatina, 116 Pitesti Street, Olt County Telephone/ fax number: +40 249 431 901 / +40 249 437 500 Sole registration number at the Trade Register Office: RO 1515374 Trade Register Number: J28/8/1991 The European Unique Identifier (EUID): ROONRCJ28/8/1991 Legal Entity Identifier (LEI): 5493008G6W6SORM2JG98 Subscribed and paid-in share capital: 356,889,567.5 RON Regulated market on which the issued shares are traded: Bucharest Stock Exchange -- Premium Tier Category (market symbol: ALR)

We hereby inform all persons who may be interested about the following important event to be reported:

ALRO Group publishes its Trading Update Q4 2022

Slatina, 20 January 2023 - ALRO S.A. (BSE: ALR, "the Company" or "ALRO"), one of the largest vertically integrated aluminium producers in Europe, measured by production capacity, publishes today the Trading Update Report for Q4 2022 which provides basic preparatory information on the economic environment of ALRO Group's key performance indicators for the quarter that ended on 31 December 2022 ("Q4 2022").

The Preliminary Financial Results for the period ended on 31 December 2022 will be published on Monday, 27 February 2023, and the Company's representatives will hold the Financial Results Conference Call on Monday, 27 March 2023.

The information contained in this trading update may be subject to change and may differ from the numbers of the quarterly/ half-year/ annual report.

The Trading Update Q4 2022 Report is available in a separate document on the Company's website, Investor Relations category, Reports section: https://www.alro.ro/en/reports and at the below link:

Marian-Daniel NĂSTASE

Chairman of the Board of Directors

Gheorghe DOBRA

Chief Executive Officer

ALRO S.A. 116 Pitesti Street Slatina, Romania

Phone: +(40) 249 431 901 Fax: +(40) 249 437 500

alro@alro.ro www.alro.ro

For further information, please contact:

Ana-Maria IMBREA Investor and Corporate Relations Phone: +40 752 105 339 E-mail: investor.relations@alro.ro

Notes to the Editor:

ALRO Group

The companies' part of ALRO Group are: ALRO S.A. – manufacturer of aluminium, ALUM S.A. – producer of Conef S.A. – holding and management community, Vineto Extrusion S.R.L. – extrusion S.R.L. – extrusion business line, Conef S.A. – holding and management company, Global Aluminium Ltd. – holding company and Bauxite Marketing Ltd = marketing, Vimeto Trading, Oloba Alumnian Ltd. = hound company and Bauxie Marketing
production chain assuring the row materials for ALDO production chain assuring the raw materials for ALRO.

ALRO

ALRO is subsidiary of Vimetco PLC (Republic of Cyprus), a global, vertically-integrated primary and processed in aluminium producer The structure of ALRO's shareholders is: Vimetro PLC (54.19%), Paval Holding (20.00%), Paval Holding (23.21%),
Fondul Propietates (10.21%) ond other (10.2 Fondul Proprietatea (10.21%) and others (12.39%).

ALRO is one of the largest vertically integrated aluminium producers, by capacity, in Europe, having an installed production capacity of 265,000 tonnes per annum of electrolytic aluminium, 47,000 tonnes per annum of necycled aluminum and the Cast-House has a total cast aluminum, or courtes per annum of recycled facilities of 140,000 tpa of hot and cold rolling facilities and extrusion shop,

The main market for ALRO products is represented by the European Union; the Company exports its products to the USA and Asia, as well. ALRO is ISO 9001 certified for quality management and has NADCAP and EN 9100 entificates for aerospace productions, ALRO's products adhere to the quality standards for primary aluminium on the LME, as well as international standards for flat rolled pariete to

Starting from 18 March 2019, the Index Committee of the Bucharest Stock Exchange approved the inclusion of ALRO (rode ALR) in BET, the mainindex of the market, and in BET-TR, the total return version of BET. ALRO's shares have been listed on the Buchariest Stock Exchange since October 1997 and ALRO represents the first company in the aluminium industry present in these two indices.

Since 2020, ALRO and Vimeto Extrusion are members of ASI (Aluminium Stewardship Initiative), an international association that contributes to enhancing sustainability in the global aluminium sector.

ALRO GROUP Q4/2022 Trading Update 20 January 2023

This Trading Update provides basic preparatory information on the economic environment of ALRO Group's key performance indicators for the quarter that ended on 31 December 2022 ("Q4 2022").

The Preliminary Financial Results for the period ended on 31 December 2022 will be published on Monday, 27 February 2023, and the Combined enced on 31 December 2022 will be published on Monday, 27
March 2023, and the Company's representatives will hold the Financial Results Confer March 2023.

The information contained in this trading update may be subject to change and may differ from the numbers of the quarterly/ half-year/ annual report.

Economic Environment Indicators

Indicator		Of 722	0272	(03/272	04 22
Average LME 3M	USD/tonne	3,269	2,898	2,358	2345
Exchange rate used (average) Exchange rate used (end of period) EUA forward price (average) EUA spot price (average)	RON/USD RON/USD EUR EUR	4.4107 4.4508 82.82	4.6390 4.7424 83,43	4.8794 5.0469 79.65	4.8288 4.6346 54.06 77.38

* EUA = European Union Allowance and means a transferable allowance to emit one tonne of CO > equivalent during a specified period.

EUA forward price meens the simple average of the daily one-year forward EUA prices (closing offer prices) for delivery in December of the cliber in to any one-year for as oberved in a pross (or one prices ) or delienç in 3 deliery in 3 lange in 1 ander in 3 a
December of the year for which the o consideration for calculating the indirect emissions compensation for the respective reporting year.

Sources: Bloomberg, Reuters, Platts, NBR

Other information

Indirect emissions compensation for 2021 - ALRO Group received in December 2022 the amount of RON 367,264 thousand as compensation for 2021 indirect emissions costs.

Production & Sales

Production		Of 1772	07272	03/222	Q4/22
Liquid aluminium	tonnes	8,291	7,610	1,606	2,815
Electrolytic aluminium	tonnes	28,427	17,805	16,945	15,339
Primary aluminium	tonnes	63.545
Wire rod	tonnes		55,093	35,700	37,116
Billets	fonnes	10,620	4,787	6,947	6,199
Slabs		11,251	10,955	11,989	9,927
Wire rod (processing)*	tonnes	37,277	32,627	11,919	16,321
	tonnes	2,722	5,039	3,129	3,103
Billets (processing)*	tonnes	1,675	1,685	1,716	1,566
Processed aluminium:	tonnes	31,774
- Flat-Rolled Products (FRP)	tonnes		27,554	15,048	16,637
Plates	tonnes	25,377	20,645	8,131	10,093
Sheets	tonnes	18,699	18,206	6,908	7,266
Coils		4,098	964	385	897
	fonnes	2,580	1,475	838	1,930
- Extruded Products (VE)	tonnes	6,397
Standard profiles	tonnes		6,909	6,917	6.544
Customised profiles	tonnes	2,079	2,439	2,083	1,620
		4,317	4,470	4.835	4,924
Alumina	tonnes	58,547	40,940	8,918
Bauxite	tonnes	187,141	294,428	268,187	160,587

Sales (to 3rd parties)		011/72	072722	03/22	Oct 92
Primary aluminium Wire rod Billets Slabs Wire rod (processing)"	tonnes tonnes tonnes tonnes tonnes	20,314 12,331 5,283 2,700	15,540 4,551 5,929 5,060	13,033 6,241 3,662 3,130	11,497 5.643 2,764 3,090
Processed aluminium - Flat-Rolled Products (FRP) Plates Sheets Coils Extruded Products (VE) Standard profiles Customised profiles	tonnes tonnes tonnes tonnes tonnes tonnes tonnes tonnes	31,153 23,985 17,418 4,148 2,419 7,168 2,574 4,593	24,592 17,891 14,912 1,431 1,548 6,702 2,333 4,369	18,383 11,778 9,544 871 1,363 6,605 2,114 4,491	15,504 9,515 7,425 703 1,387 5,989 1,402 4,587
Alumina	tonnes	8,588	3,072	1,405	721
Bauxite	tonnes		171,167	362,790	206,835

*ALRO Group entered into tolling contracts with a few clients and agreed to process the metal brought in by these clients by charging a smelting and processing fee and rendering them back a specifically ordered product

Contact Details

For further information, please contact:

Ana-Maria IMBREA, Investor and Corporate Relations Tel.: +40 752 105 339 E-Mail: investor.relations@alro.ro

Disclaimer regarding forward looking statements

This report may contain forward-looking including, without limitation, those relaining to (a) forecasts, projections, and estimates, (b) statements of management's plans, objectives, and strategies for ALRO Group/ ALRO such as planned expansions, investments or other projects, (c) targeted production volumes on actives or rates, started
reductions, and profit objectives, (c) targetelione about friumes and reductions, and profit objectives, (d) different expectations about future developments in ALRO Group's / ALRO's markets, reducing inces, topin expection, (e) results of prostins, (g) results in , (g) group a Aro's market,
management, as well as (o competins, (e) results of poradins, "promotion similar statements. Although we believe by expected in such forward-looking statements are reasonable, these forward-looking statements are basevantions and frecests that, by their natur-one, involve risk and uncertainty, in overtainty Various forlose our actual results to differ materially from those projected in a forward-hoking statement or affect the extent to which a particular projection is realized. We can give no alward-odking statement or after correct.

ALRO Group/ ALRO disclaims any obligation to update or revise any forward-looking statements, whether as a result of new
information, future events, or otherwise information, future events, or otherwise.