Alcan Investor Workshop

Alcan Investment Thesis Well Positioned for Profitable growth ■Modern and cost efficient upstream assets ➤ Opportunities to reach and maintain 1st quartile positions. Technology and power advantages ■ Downstream businesses in profitable markets with competitive positions > Significant margin improvement potential > Leading technology and market positions in selected segments Financial strength and flexibility to pursue profitable growth without compromising financial and capital allocation discipline ■ Proven track record in managing for value © 2006 ALCAN INC. ALCAN Slide 16

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