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Mitsubishi Power Awarded Long-Term Service Agreement by Aluminium Bahrain BSC (Alba) to Ensure Efficient and Reliable Power Supply

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MANAMA, Bahrain – October 3, 2022 -- Mitsubishi Power, a power solutions brand of Mitsubishi Heavy Industries, Ltd. (MHI), announced today that it has signed a Long-Term Service Agreement (LTSA) with Aluminium Bahrain B.S.C. (Alba), one of the world’s largest Aluminium smelters. The LTSA covers parts, repairs, and services of a new 680.9 megawatts (MW) Combined Cycle Gas Turbine Power Block, featuring Mitsubishi Power’s advanced J-series gas turbine technology. The long-term agreement will enhance the reliability, efficiency, and availability of power supply, thereby protecting Alba’s aluminium production, a cornerstone of Bahrain’s economic growth and development.

This signing follows Alba’s recent agreement with Mitsubishi Power & SEPCOIII to design, engineer, procure, construct and commission a new Combined Cycle Gas Turbine Power Block as part of the expansion of Power Station 5 in Bahrain. Mitsubishi Power will supply a combined cycle power unit, comprised of the M701JAC gas turbine, an air-cooled version of J-series gas turbines, and a steam turbine. Under the terms of this agreement, Alba will benefit from Mitsubishi Power’s comprehensive warranties and extended service support, to enhance and drive performance and efficiency.

Khalid Salem, President of Middle East & Africa at Mitsubishi Power said: “As part of our growing partnership with Alba, Mitsubishi Power is proud to support Alba with this long-term service agreement for the new Combined Cycle Gas Turbine Block 4 in Power Station 5, which we were awarded earlier this year.

We are committed to support Alba in providing and ensuring reliable and efficient power supply, while continuously enhancing operational excellence and productivity as well as reducing operating and fuel costs to meet its commercial and environmental goals.”

Adding further, Shaikh Daij Bin Salman Bin Daij Al Khalifa said:“With commercial operations set to begin in Q4 2024, the LTSA will be essential to ensure Alba’s Block 4 providing uninterrupted, reliable power while supporting our long-term vision for sustainable and efficient Aluminium production.”

As part of the agreement, Alba’s new Power Block 4 in Power Station 5 will also utilize Mitsubishi Power’s award-winning suite of intelligent solutions TOMONI®, a customizable suite of user-driven, digital power plant solutions fueled by cutting-edge analytics and decades of turbine operating and monitoring data. TOMONI harnesses big data to provide real-time predictive insights, adaptive control and actionable knowledge, for higher power plant performance, reliability and optimization and to achieve environmental performance goals.

Mitsubishi Power will continue to leverage decades of experience and innovation to equip customers across the Middle East and North Africa region with advanced, innovative, and clean energy solutions required to achieve a robust, reliable, and resilient energy infrastructure that brings it one step closer towards a carbon neutral society.

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About Mitsubishi Power

Mitsubishi Power is a power solutions brand of Mitsubishi Heavy Industries, Ltd. (MHI). Across more than 30 countries worldwide, Mitsubishi Power designs, manufactures, and maintains equipment and systems that drive decarbonization and ensure delivery of reliable power around the world. Among its solutions are a wide range of gas turbines including hydrogen-fueled gas turbines, solid-oxide fuel cells (SOFCs), and air quality control system (AQCS). Committed to providing exemplary service and working with customers to imagine the future of energy, Mitsubishi Power is also spearheading the development of the digital power plant through its suite of AI-enabled TOMONI® solutions.

For more information, please visit https://power.mhi.com.

About Aluminium Bahrain B.S.C. (Alba)

At plus-1.561 million metric tonnes per annum (2021), Alba is one of the world’s largest Aluminium smelters with more than 50 years of excellence in Operations, Safety, Environment and Socio-Economic Development.

A blue-chip asset of the Kingdom of Bahrain, Alba completed five decades of commercial operations in May 2021. The Company marked its Golden Jubilee by breaking all its previous records in Safety and topped 30 million Safe working-hours without Lost Time Injury (LTI) on 01 September 2022 for the first-time in its history.

Alba produces high-quality Aluminium products in the form of Standard and Value-Added Products (VAP)s, which are exported to more than 240 global customers through its sales offices in Europe (Zurich), Asia (Hong Kong & Singapore) and subsidiary office in the U.S. Alba is dual listed on Bahrain Bourse and London Stock Exchange and its shareholders are Bahrain Mumtalakat Holding Company B.S.C. © (69.38%), SABIC Industrial Investments Company (SIIC) (20.62%) and General Public (10%). Alba holds globally-recognised certifications such as ISO 9001, ISO 14001, ISO 27001, ISO 45001, IATF 16949:2016, ISO 22301:2012 Business Continuity Management System (BCMS) and ASI Performance Standard Certification and Ecovadis Certification.

As the first Aluminium smelter in the Middle East, Alba has been a major contributor to the social, industrial, and economic development of the Kingdom of Bahrain. Alba sits at the heart of a thriving Aluminium downstream sector in Bahrain, which accounts for approximately 12% of the Kingdom's GDP. As one of the biggest national companies, Alba has ensured not only the employment of Bahrain nationals (84% in 2021) but also the enhancement of their capabilities through education, training, and development initiatives at every stage of their career.

Alba is recognised as one of the top industrial companies in the world with high standards in Environment practices, Social contribution and Corporate Governance. Launched in February 2022, the Company’s ESG Roadmap outlines 6 priority areas - (1) Decarbonisation, (2) Green Energy & Aluminium, (3) Circular Economy & Secondary Aluminium, (4) Employee Welfare, (5) Collaboration & Partnership and (6) Transparency, Communications & Due Diligence. Since its inception, Alba has invested into numerous environment, sustainable and socio-economic development projects that have had a positive impact on the society. Alba’s recent projects such as the first-of-its-kind US$37.5 million zero-waste Spent Pot Lining Treatment Plant and the upcoming 5-7 MW Solar Farm Project are tangible efforts to meet the goals of Bahrain’s Economic Vision 2030 as well as the Net Zero Carbon targets led by HRH the Crown Prince and Prime Minister of Bahrain. Alba will play a crucial role in the upcoming Aluminium Downstream Park, which will increase the contribution of non-oil sectors to the GDP of Bahrain.

Alba’s motto ‘Safety First, Safety Always’ has ensured that the Safety and well-being of its employees and contractors’ workforce remain a top priority. The Company has been recognised internationally for its excellent Safety and Health track record with awards such as the RoSPA Gold Award (9 years in a row) and International Safety Award with Merit from British Safety Council, as well as six major National Safety Council (NSC) USA awards for 2021. Alba has also been recognised for its initiatives to produce Aluminium responsibly through awards such as Top ESG performer in Bahrain by ESG Invest, Safeguard Label from Bureau Veritas and Best Corporate Governance Award by Ethical Boardroom.

Alba Power Station 5 Block 4 Expansion Project

Alba Power Station 5 (PS5) Block 4 is a Combined Cycle Power Plant that is an expansion of the existing PS5.

PS5 Block 4 Project is the addition of a fourth Block of similar 1:1:1 configuration with J-class gas turbine technology and with minimum nominal ISO rating of a 680.9 MW and includes tie into the existing 220kV Substation. The efficiency of this combined cycle power plant is much higher than the combined cycle power plants of PS3 and PS4. On completion of PS5 Block 4 Expansion Project, the nameplate capacity of PS5 will increase from 1,800 MW to 2,481 MW.

Mitsubishi Power & SEPCOIII consortium will be responsible to design, engineer, procure, construct and commission Block 4. PS5 Block 4 commercial operations are expected to begin in Q4 2024.

Alba External Grievance Mechanism

Alba’s External Grievance Mechanism receives and facilitates the resolution of any affected communities’ concerns and grievances about Alba’s Environment and Social (E&S) performance. External grievances about Alba’s E&S performance can be logged via the Alba Integrity Line - an independently operated confidential reporting hotline in multiple languages - via a toll-free phone system or via the intranet 24 hours a day.

Alba Response to COVID-19 Pandemic

Alba’s response strategy to COVID-19 was initiated back to January 2020 in line with the guidelines of Bahrain National Taskforce for Combating Coronavirus (COVID-19). The Company was able to maintain safe operations throughout 2021 thanks to its nimble workforce – employees and contractors’ personnel.

For further details, please contact:

Eline Hilal

Director, Investor Relations, Insurance & Corporate Secretary

Investor Relations Department

Tel: (973) 1783 5100

E-mail: [email protected]

Website: www.albasmelter.com

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