#1ALCAN FREE WAWI T Alcan Investor Workshop Toronto, October 3, 2006 Cynthia Carroll President and CEO - Alcan Primary Metal#2Forward Looking Statements ALCAN Statements made in the course of this presentation which describe the Company's or management's objectives, projections, estimates, expectations or predictions may be "forward-looking statements" within the meaning of securities laws. All statements that address the Company's expectations or projections about the future including statements about the Company's growth, cost reduction goals, operations reorganization plans, expenditures and financial results are forward-looking statements. The Company cautions that, by their nature, forward-looking statements involve risk and uncertainty and actual actions or results could differ materially. Reference should be made to the most recent Form 10-Q for a summary of factors that could cause such differences. In addition, certain non-GAAP measures are used which are reconciled to the comparable GAAP measures herein or the Company's website at www.alcan.com in the "Investors" section. 2006 ALCAN INC. Slide 2#3Agenda Business Context ■ Operational Excellence ■ Technology Leadership Profitable Growth Opportunities Summary 2006 ALCAN INC. ALCAN Slide 3#4Primary Metal Operations North America Smelting: 1.9 Mt Power: 3,583 Mw 2006 ALCAN INC. 08. Europe Smelting: 1.2 Mt Power: 529 Mw Africa: Smelting: 0.05 Mt Power: na Asia: Smelting: 0.1 Mt Power: 261 Mw Australia Smelting: 0.3 Mt Power: na ALCAN Key Facts ■ One of the two largest aluminum producers in the world with total primary metal capacity of 3.5 Mt (10% of world) 21 smelters on 5 continents ■12 power facilities with total owned capacity of 4,370 MW World leading market position in smelting technology Slide 4#5Primary Aluminum Consumption and Production Constraints Primary Aluminum Consumption, 1995 - 2020 Consumption (Mt/y). 65 55 35 25 15 1995 2006 ALCAN INC. 4.5% 2000- 5% CAGR 4% CAGR 2005 3% CAGR 31.85 2010 2015 +34 MT 1+25 MT +18 MT 2020 ALCAN Energy: 43,000 MW Alumina: ~50 Mt Capital $100 Billion Slide 5#6Shift In Aluminum Production Centers: 1980 - 2005 - 2020 China 2% exUSSR 17% Australia 2% 1980 (16.1 Mt) Other 19% Canada 2006 ALCAN INC. Middle East 1% Europe 22% USA 30% Other 20% China 24% 2005 (31.9 Mt) Europe 14% exUSSR 13% USA 8% Middle East 6% Canada 9% Australia 6% Other 23% China 23% 2020 ALCAN (57.5 Mt) Europe 8% USA 5% exUSSR 20% Middle East 10% Canada 7% Australia 4% Slide 6#7Strategic Direction APMG is becoming the global leader in the primary aluminum industry and the supplier of choice through: ■ World class, low-cost operational excellence ■ Market leading position with cutting-edge AP technology package and engineering solutions ■ World-class EHS performance ■ Sustainable value-creating solutions 2006 ALCAN INC. ALCAN Slide 7#8A Leader in Aluminum Production Alcan's production has significantly increased and diversified geographically Hot Metal Production (000kt) APMG Geographic Smelting Capacity 1,558 2000 2,041 2001 2006 ALCAN INC. 2,238 2002 2,354 2003 3,382 2004 3,419 2005 Oceania/Asia 10% Europe 34% ALCAN Cameroon 1% ΝΑ 55% Slide 8#9EHS Performance - Safety Recordable and Lost Time Injury / Illness Case Rate Recordable Case Rate 4.00 3.00 2.00 1.00 0.00 1.00 0.75 0.50 0.25 0.00 2006 ALCAN INC. 2003 Safety results improving continuously 2003 2004 2005 LTII Case Rate 2004 2005 2006 2006 ALCAN Key Facts ■Since 2003, 70% improvement in recordable. and LTII case rate All sites have been certified OHSAS 18000 and ISO 14001. ■ Implementation of EHS FIRST. Initiatives on pedestrian safety and hazardous energy control reduced the severity of APMG injuries. Slide 9