“As we witness Bahrain’s steady recovery from the challenges of COVID-19 Pandemic, I give my utmost thanks to the Leadership and the Government of Bahrain for ensuring the safety of the people -- citizens and residents,” stated the Chairman of Aluminium Bahrain B.S.C. (Alba)’s Board of Directors, Shaikh Daij Bin Salman Bin Daij Al Khalifa, during the Company’s Annual General Meeting (AGM), which was held virtually on Thursday 10 March 2022 at 3 PM.

Adding further, Alba’s Chairman of Board of Directors, Shaikh Daij Bin Salman Bin Daij Al Khalifa said:

“2021 has truly been a Golden Year for Alba with our best-ever recorded performance in 5 decades.

We have set a precedent in our operational and financial performance by going above and beyond on the Production, Environment, Social and Governance (ESG) fronts as well as Net Profit.

As we sail into 2022, we aim to capitalise on the current market pulse to drive more returns to our shareholders all the while reduce our leverage.”

During the Annual General Meeting, the minutes of the previous AGM, which was held on 11 March 2021 were discussed and approved. The Report of the Board of Directors for Alba’s activities for the year-ended 31 December 2021 was approved while the External Auditors’ Report for the Financial Statements for the year-ended 31 December 2021 was also reviewed during this meeting.

Approval was given to the distribution of cash dividends to the shareholders at Fils 79.71 per share (inclusive the interim dividends of Fils 26.57 per share which was already distributed on 23 November 2021) corresponding to BD112,812,936 for the year-ended 31 December 2021. Also, approval given to transfer BD340,176 Thousand to the Retained Earnings. Approvals were also given to the recommendation of the Board of Directors’ total remuneration of BD420,000 for the year-ended 31 December 2021 and subject to the approval of the Ministry of Industry, Commerce and Tourism.

The 2021 Corporate Governance Report was tabled before the shareholders and KPMG was re-appointed as the Company’s External Auditors for 2022. In addition, Alba’s shareholders approved the transactions carried-out during the financial year-ended 31 December 2021 with any of the related parties as described in note # 27 of the financial statements in line with Article 189 of the Commercial Companies’ Law as well as absolved the Board of Directors from their actions/activities for the year-ended 31 December 2021.

-Ends-

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

[Ticker: ALBH]

Starting as a 120,000 tonnes per annum smelter in 1971, Alba, today, is the world’s largest aluminium smelter ex-China with a production of more than 1.561 million metric tonnes per annum (2021). Its diverse product portfolio of Standard and Value-Added Products (VAP)s 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%).

 Over the last five decades, Alba has been a major contributor to the social, industrial, and economic development of the Kingdom of Bahrain. The Company is at the heart of a thriving Bahrain’s aluminium sector, which accounts for approximately 12% of the country's GDP. Renowned for being an employer of choice, Alba is a model in Employee Training and Development and employs over 3,100 people across its operations (2021), of which 84% are Bahraini nationals. It is noteworthy that in 2021, Alba achieved more than 581,000 training- hours despite the challenges of COVID-19.

Alba is recognised as one of the top industrial companies in the world with high standards in Environment practices, Social contribution and Corporate Governance. Over 50 years, the Company has invested into projects that had a positive impact on the society in which it operates. More recently, Alba’s US$37.5 million zero-waste Spent Pot Lining Treatment Plant, the upcoming 5-plus MW Solar Farm Project and strategic role in the future Aluminium Downstream Park are a testimony of Alba’s Sustainability Roadmap that will 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 in COP26 summit. In addition, globally-recognised certifications such as ISO 9001, ISO 14001, ISO 27001, ISO 45001, IATF 16949:2016 and ASI Performance Standard Certification and Ecovadis attest to Alba’s actions to produce aluminium responsibly and sustainably.

Safety of its employees and contractors’ workforce remains Alba’s top priority. Over the years, the Company has maintained an excellent track record in Safety and Health for which it has won prestigious international awards such as the RoSPA Award 2021 (8 years in a row) and International Safety Award with Merit from British Safety Council in 2020. Alba stayed strong on its journey of Safety Excellence by topping more than 20 million safe working-hours without any Lost Time Injury (LTI) by end of 2021.

Alba has also been recognised internationally for its strong values and operating excellence, with the most recent ones being top ESG performer in Bahrain by ESG Invest; Safeguard Label from Bureau Veritas; and Best Corporate Governance Award by Ethical Boardroom. For more information on Alba, please visit www.albasmelter.com

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
E-mail:   eline.hilal@alba.com.bh
Website: www.albasmelter.com

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