Atlantic Alumina Expands Partnership with United States Government, Reaching $800 Million in Total Funding to Advance U.S. Critical Mineral Independence

Atlantic Alumina Expands Partnership with United States Government, Reaching $800 Million in Total Funding to Advance U.S. Critical Mineral Independence

$400 Million from the U.S. Department of War and $400 Million from Pinnacle Asset Management Supports America’s Sole Alumina Refinery in Gramercy, Louisiana

New Equity Stake Secures Domestic Alumina Supply while Enabling the Production of America’s First Primary Gallium

Atlantic Alumina Company LLC (“ATALCO” or the “Company”), the only remaining alumina refinery in the United States, today announced an expansion of its partnership with the Department of War’s ("DoW") Office of the Under Secretary of War for Acquisition & Sustainment, the Economic Defense Unit, and Concord Resources Holdings Limited (“Concord”), in conjunction with Concord’s majority shareholder, a fund managed by Pinnacle Asset Management, L.P. (“Pinnacle”), a leading commodities investment firm. The new funding, in the form of $350 million in preferred equity, brings total capital raised for the ATALCO facility in Gramercy, Louisiana and its critical mineral production to $800 million since the start of the year, split evenly between $400 million from the DoW and $400 million from private investors through Pinnacle’s fund.