Investor Presentation June 2025 OUR VALUES Act with Integrity Operate with Excellence Care for People Lead with Courage This presentation contains statements that relate to future events and expectations and as such constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include those containing such words as "aims," "ambition," "anticipates," "believes," "could," "develop," "endeavors," "estimates," "expects," "forecasts," ...

Core Viewpoint - Momentum investing focuses on "buying high and selling higher" rather than the traditional "buying low and selling high" approach, aiming for quicker profits [1] Group 1: Momentum Investing Characteristics - Fast-moving trending stocks can be difficult to enter at the right time, as they may lose momentum if future growth does not justify their high valuations [2] - A safer strategy involves investing in bargain stocks that exhibit recent price momentum, utilizing tools like the Zacks Momentum Style Score to identify such opportunities [3] Group 2: Kaiser Aluminum (KALU) Analysis - Kaiser Aluminum (KALU) has shown a four-week price change of 5%, indicating growing investor interest [4] - KALU has gained 15% over the past 12 weeks, with a beta of 1.43, suggesting it moves 43% more than the market [5] - KALU holds a Momentum Score of B, indicating a favorable time to invest based on momentum [6] Group 3: Earnings Estimates and Valuation - KALU has a Zacks Rank 1 (Strong Buy) due to upward revisions in earnings estimates, which attract more investors and drive the stock price up [7] - The stock is trading at a Price-to-Sales ratio of 0.40, suggesting it is undervalued, as investors pay only 40 cents for each dollar of sales [7] Group 4: Additional Opportunities - Besides KALU, there are other stocks that meet the criteria of the 'Fast-Paced Momentum at a Bargain' screen, presenting further investment opportunities [8]

Group 1: Company Overview - Constellium SE (NYSE: CSTM) is a global leader in developing innovative, value-added aluminum products for various markets, including aerospace, packaging, and automotive [5] - The company generated $7.3 billion in revenue in 2024 [5] Group 2: Innovations and Products - At the 55th Paris Air Show, Constellium will showcase its high-performance aluminum products, including Airware, an aluminum-lithium solution designed for aircraft and spacecraft applications [2] - Airware provides superior strength-to-weight ratios, reduced material density, and excellent fatigue and corrosion resistance, making it suitable for more efficient, lower-emission aircraft [2] Group 3: Sustainability Initiatives - Constellium will unveil the first aluminum ingot fully manufactured at lab scale from end-of-life aircraft, utilizing a recycling and remelting process that meets new aircraft production standards [3] - This initiative is a collaboration between Constellium and TARMAC Aerosave, supported by Airbus, representing a significant advancement toward a circular economy in aerospace [3] Group 4: Future Projects - The exhibit will also highlight the company's progress on the Wing of the Future project, aimed at developing next-generation wing technologies for lighter, more fuel-efficient aircraft [4] - The role of aluminum in sustainable aviation will be explored, with additional resources available for further insights [4]

Group 1: Core Achievement - Constellium SE and TARMAC Aerosave have successfully recycled and remelted aluminum from end-of-life aircraft into new, high-performance material for aerospace applications [1][2] - This initiative demonstrates the potential of aluminum to support circular economy goals in aerospace without compromising material performance [2][4] Group 2: Process and Collaboration - The successful remelting process was achieved through collaborative research and development, particularly supported by Airbus and ValoER [2] - The next step involves scaling up the recycling process for industrial application and extending it to various aluminum alloys used in aircraft [2] Group 3: Sustainability Impact - Aluminum recycling requires only 5% of the energy needed for primary production and results in 95% fewer CO₂ emissions, enhancing sustainability in the aerospace industry [4] - The full-circular model of aluminum recycling provides a compelling path for future innovation and sustainability efforts in aviation [4] Group 4: Company Profiles - Constellium generated $7.3 billion in revenue in 2024 and is a leader in developing innovative aluminum products for various markets, including aerospace [5] - TARMAC Aerosave specializes in aircraft maintenance and eco-responsible dismantling, operating Europe's largest aircraft storage facilities [5]

Flash | 05 Jun 2025 10:46:21 ET │ 13 pages China Battery Materials Lithium into 1st week of June – Supply is the key swing factor as of now CITI'S TAKE National "trade-in" subsidy has reportedly suspended in some provinces, earlier than expected vs est. end of 2025 (Sohu.com, 27-May). Though there should be downward pressure on NEV demand, we estimate impact will be relatively limited as (1) OEMs are offering another round of price discount, and (2) marginal impact of subsidy has been diminishing due to hig ...

6 June 2025 | 8:12PM HKT China Basic Materials China commodities: Refreshing earnings estimates Trina Chen +852-2978-2678 | trina.chen@gs.com Goldman Sachs (Asia) L.L.C. Joy Zhang +852-2978-6545 | joy.x.zhang@gs.com Goldman Sachs (Asia) L.L.C. Roy Shi +852-2978-0110 | roy.shi@gs.com Goldman Sachs (Asia) L.L.C. Fiona Ye +852-2978-0680 | fiona.ye@gs.com Goldman Sachs (Asia) L.L.C. Daisy Dai +852-2978-7904 | daisy.dai@gs.com Goldman Sachs (Asia) L.L.C. We refresh our earnings estimates for our China commoditie ...

Group 1 - The company held its 15th meeting of the 6th Board of Directors on June 6, 2025, in Shanghai, with all 5 directors present, ensuring compliance with legal and regulatory requirements [1] - The board approved a proposal to enhance the green low-carbon energy efficiency of the company's 1.4 million tons of electrolytic aluminum capacity using advanced domestic energy-saving technology [2] - The project will utilize fully graphitized cathode carbon blocks and new energy-saving cathode structure technology, leading to improved operational stability and current efficiency [2] Group 2 - Upon completion, the company's electrolytic aluminum production capacity is expected to reach approximately 1.4 million tons per year, with electricity consumption for aluminum liquid expected to achieve industry-leading levels [2] - The construction period for the project is tentatively set at 10 months, with an estimated investment amount [2] - The proposal has been reviewed and approved by the Board's Strategy and Sustainable Development Committee [2]

中金点睛"精品数据上新"栏目将带您回顾近期上新的数据看板。 01 汽车智能化数据 聚焦智能感知、智能决策、智能座舱三大板块，涵盖出货量、搭载量、渗透率、国产化水 平等关键指标，多维度展现市场趋势。 ➡【中金科技】汽车智能化数据 图： 毫米波雷达总体出货量 数据来源:高工智能汽车，中金公司研究部 02 铝行业观察 周度跟踪价格、库存、产量、开工率、现金利润及各项成本等核心指标的数据动态。 ➡【中金有色】铝行业观察 图： 铝土矿海内外价格 数据来源:亚洲金属网，中金公司研究部 03 建材行业高频数据追踪 高频追踪水泥、玻璃、玻纤细分市场的供需状况及价格走势，核心指标一键速览。 ➡【中金基材】建材行业高频数据追踪 图：全国水泥出货率 数据来源:卓创资讯，中金公司研究部 注:2025年数据截至日期为2025年6月1日 04 电影行业数据库 覆盖电影票房和电影渠道两大板块，精选票房、影院数、出票量、影投票房市占率等月度 指标。 ➡【中金传媒】电影行业数据库 图：分城市 月度票房 数据来源:艺恩，中金公司研究部 法律声明 更多特色数据，欢迎登录 中金点睛一站式数字化投研平台 ...

全球供应萎缩和特朗普挑起的美国关税造成的需求上升都有望支持这样的预期。 Harbor Aluminum：预计LME铝价将在未来18个月涨超20%，至3000美元/吨。 ...

Asia Pacific Equity Research 28 May 2025 This material is neither intended to be distributed to Mainland China investors nor to provide securities investment consultancy services within the territory of Mainland China. This material or any portion hereof may not be reprinted, sold or redistributed without the written consent of J.P. Morgan. China Basic Materials 2025 Global China Summit and Basic Materials Tour takeaways: What else apart from consensus positive on gold? We hosted a basic materials tour and ...