Companhia Brasileira de Alumínio - CBA is an aluminum producer with integrated operations across the entire value chain, from bauxite mining to the manufacture of primary and processed products, as well as recycling activities and electric power generation. Established in 1941, the company began operations with the Poços de Caldas Mining Unit in Minas Gerais to supply its first plant, installed on the Rodovalho farm in what was then the municipality of Mairinque (SP), now Alumínio (SP). The official inauguration of the Company took place in 1955, with an integrated industrial complex that already concentrated, in a single location, bauxite processing and the production of primary aluminum and processed products. Over the following decades, CBA consolidated itself as one of the main players in Brazil’s aluminum industry, having held, in 1978, a significant share of national production and contributing to the organization of the sector through the creation of the Brazilian Aluminum Association (ABAL) in 1970. Its shares are traded on B3 under the ticker CBAV3.

Since its early decades, Companhia Brasileira de Alumínio has structured a vertically integrated business model that combines mining, alumina refining, smelting, and rolling in a single chain. The company is recognized as the only fully integrated aluminum producer in Brazil, operating from bauxite extraction at its own units to the delivery of a broad portfolio of primary products, processed products, and customized aluminum solutions. This integration also includes self-generation of electric power, with a set of hydropower plants and wind assets dedicated primarily to supplying its industrial operations. Control of CBA is exercised by Votorantim S.A., a privately held Brazilian holding company diversified in building materials, mining and metallurgy, renewable energy, and other segments, which places CBA inside a large-scale, long-term-oriented corporate group.

CBA’s main activities include bauxite mining, alumina refining, primary aluminum production, and the manufacture of higher value-added processed products, as well as aluminum scrap recycling and the sale of surplus energy. In the aluminum segment, the company produces ingots, liquid aluminum, billets, wire rods, caster coils, and slabs, which make up the primary stage, concentrated at the Alumínio (SP) industrial unit. From these inputs, it manufactures rolled sheets and plates, as well as extruded profiles, serving a wide range of industrial and consumer applications. CBA also conducts ingot trading operations, sales of bauxite, alumina, and hydrate in volumes exceeding its internal demand, and operates scrap conversion (tolling) services, which strengthen its position in the aluminum value chain.

In processed products, Companhia Brasileira de Alumínio develops sheets and plates mainly for the packaging, construction, transportation, consumer goods, machinery and equipment, refrigeration, and air-conditioning industries. The plates, rolled from caster coils or cast slabs, can reach large thicknesses and are used for bus and van side panels, household utensils, industrial and architectural cladding, and commercial signage. Aluminum sheets, in turn, are widely used in aseptic cartons for milk and juice, flexible packaging such as stand-up pouches, household foil rolls and disposable trays, as well as in heat exchangers and automotive and refrigeration components. The extruded profiles produced from the company’s own billets are directed mainly to the construction market, for windows and doors, and to the transportation sector, in structural vehicle applications. The company also operates solution and service centers that work in co-engineering with customers to develop customized parts, components, and multicomponent kits.

CBA’s production structure is based on an integrated chain of industrial and mining assets. The company has three bauxite mining units, located in Barro Alto (GO), Zona da Mata (MG), and Poços de Caldas (MG), with resources sufficient to ensure self-sufficiency in ore for more than two decades. The bauxite is transported by rail to the Alumínio (SP) plant, which concentrates alumina refining, primary aluminum production, and a significant part of rolling and extrusion. Additionally, CBA operates the Itapissuma (PE) unit, dedicated to rolled sheets and plates; Metalex in Araçariguama (SP), specialized in scrap recycling and billet production; and Alux do Brasil in Nova Odessa (SP), a producer of secondary aluminum alloys. Recycling centers in Araçariguama and São José do Rio Preto (SP) were set up to expand the collection and processing of post-consumer scrap, including obsolete materials from the domestic and foreign markets, strengthening the supply of its smelting and rolling units.

The market served by Companhia Brasileira de Alumínio is diversified and made up of sectors with growth potential linked, among other factors, to the decarbonization of the economy and the replacement of more carbon-intensive materials. The company supplies aluminum and related solutions to the construction, packaging, transportation, automotive, wires and cables, consumer goods, and other industrial chains. No single customer accounts for more than 10% of net revenue, resulting in a dispersed client base and reduced concentration of commercial risk. Most of CBA’s aluminum sales are concentrated in Brazil’s Southeast region, the country’s main consumption hub, leveraging the strategic location of the Alumínio (SP) plant relative to the mines and industrial centers. The Company also carries out aluminum export operations and scrap imports, although the breakdown of revenue by country was not highlighted in the extract presented.

In addition to aluminum, the company operates an energy segment dedicated to managing and commercializing surplus power generated by its portfolio of generation assets. CBA holds, directly or indirectly, concessions for hydropower plants under self-production and independent power producer models, located mainly in the South, Southeast, and Center-West regions, totaling approximately 1.4 GW of installed renewable capacity on an equity-adjusted basis, complemented by wind farms acquired in 2021, raising total capacity to around 1.6 GW. The energy generated is primarily consumed in aluminum operations, with the surplus sold on the free market through the energy segment, while the power supplied internally to the aluminum segment is eliminated on consolidation. This structure reduces the Company’s exposure to electricity price volatility, a critical input for aluminum production, and supports cost competitiveness versus the global industry average.

Companhia Brasileira de Alumínio’s operations are subject to a robust regulatory environment, notably Brazilian mining legislation and power sector regulations. In mining, the company operates under the authorization and concession regime set out in the Mining Code and associated regulations, with the National Mining Agency (ANM) and the Ministry of Mines and Energy (MME) as the main authorities responsible for granting exploration and mining rights, overseeing operations, worker and community safety, and requiring environmental reclamation of mined areas. Mining concessions are granted for an indefinite term, subject to compliance with legal obligations, payment of royalties and sector fees, execution of approved plans, and adherence to environmental legislation. In power generation, CBA’s plants operate under concessions granted by the granting authority, with defined terms, extension possibilities, and oversight by regulators such as the National Electric Energy Agency (ANEEL) and the MME.

Environmental, social, and governance aspects play a central role in Companhia Brasileira de Alumínio’s strategy. The company operates with a 100% renewable power generation portfolio based on hydro and wind, uses biomass boilers at its alumina refinery, and invests in technologies to reduce emissions in potrooms, such as the Green Soderberg project, which modernizes electrolytic feeding and reduces greenhouse gas, particulate matter, and fluoride emissions. In mining, CBA rehabilitates mined areas, returning land to surface owners with productivity and fertility conditions that are comparable to or better than the originals. The Company is certified by the Aluminum Stewardship Initiative (ASI) under performance and chain-of-custody standards, is a signatory to the Global Compact, and participates in corporate initiatives focused on climate, transparency, and anti-corruption. CBA is also included in B3 sustainability indices such as ISE B3 and IDIVERSA B3 and has relevant ESG ratings in international assessments, aligning its environmental, social, and governance risk management practices with its positioning as a low-carbon aluminum producer.

CBA further reinforces its social and governance commitments through initiatives focused on diversity, employee health and well-being, participation in business leadership movements aligned with the UN Sustainable Development Goals (SDGs), and projects for conservation and sustainable use of biomes, such as Legado das Águas, the largest private Atlantic Forest reserve in the country, and Legado Verdes do Cerrado, the first Sustainable Development Reserve in this biome. Taken together, its integrated value chain, control by Votorantim, renewable energy portfolio, and international certifications position Companhia Brasileira de Alumínio - CBA, issuer of CBAV3 shares on B3, as a key player in the aluminum industry and in Brazil’s decarbonization and circular economy agenda.