Novelis Fiscal 2027 Annual Incentive Plan
Novelis Inc.
Novelis Fiscal 2027 Annual Incentive Plan
1.Title and Administration.This annual incentive plan (the “2027 AIP”, “AIP”, or the “Plan”) will be administered by the Human Resources department of Novelis Inc. (together with its subsidiaries, the “Company”).
2.Performance Period and Payments.The performance period will commence on April 1, 2026 and end on March 31, 2027. Payments under the Plan will be made in a lump sum, minus required withholdings, during the first fiscal quarter following the end of the performance year, (but in no event later than the short-term deferral exemption date under Section 409A of the Internal Revenue Code). All achievement of the performance measures will be determined by the Compensation Committee of the Company’s Board of Directors (the “Board”) and/or the Compensation Committee of the Board (the “Compensation Committee”) after the end of the performance period. For the purposes of the Plan, all references to the “Compensation Committee” hereinafter shall mean the Board and/or the Compensation Committee, as appropriate.
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