Norsk Hydro ASA — Call Transcript 2015

May 18, 2015

Norsk Hydro: Sapa (joint venture) Investor Call - Presentation Material

Norsk Hydro: Sapa (joint venture) Investor Call - Presentation Material

Reference is made to the stock exchange release of February 5, 2015, announcing

an investor call to be held by Sapa JV.

The call will take place today, May 18, 2015, at 3pm to 4pm CET.

The presentation material for today's call is attached, and can also be found at

http://www.hydro.com/en/Investor-relations/Presentations/Other-presentations/

President & CEO of Sapa, Mr Svein Tore Holsether, will give a 30 minute

presentation, followed by a 30 minute Q&A session.

Please use the following link to sign up for the conference call and for

conference call details:

http://members.meetingzone.com/selfregistration/registration.aspx?booking=QbJJmr

v9UTc2bFZi1dCDseAbUhT1eN4vS48ecOKXEaI=&b=8ef97267-f980-4869-8fb4-9efec2c17aac

Attached is also the link for the webcast today:

http://presenter.qbrick.com/?pguid=1531ab49-dbeb-4818-aac5-29e2813699d4

Sapa is the world leader in downstream aluminium solutions - a result of the

merger of the aluminium extrusion businesses of Orkla and Hydro. Sapa has a

global reach and local presence within extrusions, building systems, and

precision tubing. Sapa has 23,500 employees in more than 40 countries, and the

headquarters are located in Oslo, Norway.

Investor contact

Contact Pål Kildemo

Cellular +47 97096711

E-mail Pal.Kildemo@hydro.com

Press contact

Contact Halvor Molland

Cellular +47 92979797

E-mail Halvor.Molland@hydro.com

Certain statements included within this announcement contain forward-looking

information, including, without limitation, those relating to (a) forecasts,

projections and estimates, (b) statements of management's plans, objectives and

strategies for Hydro, such as planned expansions, investments or other projects,

(c) targeted production volumes and costs, capacities or rates, start up costs,

cost reductions and profit objectives, (d) various expectations about future

developments in Hydro's markets, particularly prices, supply and demand and

competition, (e) results of operations, (f) margins, (g) growth rates, (h) risk

management, as well as (i) statements preceded by "expected", "scheduled",

"targeted", "planned", "proposed", "intended" or similar statements.

Although we believe that the expectations reflected in such forward-looking

statements are reasonable, these forward-looking statements are based on a

number of assumptions and forecasts that, by their nature, involve risk and

uncertainty. Various factors could cause our actual results to differ materially

from those projected in a forward-looking statement or affect the extent to

which a particular projection is realized. Factors that could cause these

differences include, but are not limited to: our continued ability to reposition

and restructure our upstream and downstream aluminium business; changes in

availability and cost of energy and raw materials; global supply and demand for

aluminium and aluminium products; world economic growth, including rates of

inflation and industrial production; changes in the relative value of currencies

and the value of commodity contracts; trends in Hydro's key markets and

competition; and legislative, regulatory and political factors.

No assurance can be given that such expectations will prove to have been

correct. Hydro disclaims any obligation to update or revise any forward looking

statements, whether as a result of new information, future events or otherwise.

This information is subject of the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.

[HUG#1922001]