Manama (ALBH): Aluminium Bahrain B.S.C (Alba), the largest aluminium smelter in the world ex-China, held a Reverse Insurance Roadshow, the first of its kind in MENA region, with top-rated insurance and reinsurance markets, in collaboration with Bahrain Kuwait Insurance Company (BKIC) and reinsurance broker Willis Tower Watson on 06 and 07 June 2023 followed by a detailed field tour at Alba premises.

Alba’s Reverse Insurance Roadshow covered the renewal of Alba’s Property Damage and Business Interruption (PDBI) and Alba’s Cyber Insurance policies, and was attended by representatives of Lloyd’s Syndicates and major international companies such as Zurich Insurance Plc - Ireland (London), SCOR UK Company Limited - London (England), Swiss Re International SE Luxembourg, Hannover Ruck SE - per Bahrain branch, AIG MEA Limited - United Arab Emirates, Gulf Insurance Group (Gulf), Bahrain Kuwait Insurance Company B.S.C. and Tokio Marine Kiln - London (England).

Alba’s Chief Power Officer Amin Sultan along with Director Insurance Eline Hilal and Insurance and IR team conducted the one-on-one and group meetings on 06 June with insurance markets to witness first-hand Alba’s excellent risk management framework post which the underwriters and risk engineers visited the Company’s various departments on 07 June.

Commenting on this occasion, Alba’s Chief Executive Officer, Ali Al Baqali stated:

“Alba has set another benchmark in the MENA Region by hosting a Reverse Insurance Roadshow on its premises for its major insurance covers -- Property Damage and Business Interruption and Cyber -- when the norm is to hit the road and meet insurance markets to place these policies. This was a great opportunity to showcase Alba campus and its core assets, so our insurance partners connect with us and gain a renewed sense of our purpose.

I also take the opportunity to express my appreciation to our valued partners Bahrain Kuwait Insurance (BKIC) and Willis Towers Watson, our reinsurance broker.”

Adding further, BKIC’s Chief Executive Officer Dr. Abdulla Sultan stated:

“We are pleased to assist and equally participate in such a prestigious Reverse Insurance Roadshow which is unique to our region. Alba is one of the most dynamic companies in the region and we are positive that this reverse roadshow will provide these top-rated insurers and reinsurers an unprecedented opportunity for an up-close-and-personal perspective on Alba and its risk profile.”

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

[Ticker: ALBH]

At plus-1.6 million metric tonnes per annum (mtpa) (2022), Alba is the world’s largest aluminium smelter ex-China 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 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 (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 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, it has ensured not only the employment of Bahrain nationals (85% in 2022) 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 first-of-its-kind US$37.5 million zero-waste Spent Pot Lining Treatment Plant, the upcoming 5-7 MW Solar Farm Project and the Power Station 5 Block 4 Project are tangible efforts to meet the goals of the Net Zero Carbon targets by 2060 led by HRH the Crown Prince and Prime Minister of Bahrain. Alba will also 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 broke all 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. The Company has been recognised internationally for its excellent Safety and Health track record with awards such as the RoSPA Gold Medal 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.

For further details, please contact:
Eline Hilal
Director, Investor Relations, Insurance & Corporate Secretary
Investor Relations Department
E-mail:   eline.hilal@alba.com.bh
Website: www.albasmelter.com

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