Alcan + Pechiney A New World of Opportunity
ALCAN
IMPORTANT ADDITIONAL INFORMATION
This presentation includes certain information concerning Pechiney and the combined business of Alcan and
Pechiney. This information is subject to risks and uncertainties. We have based this information on publicly
available information about Pechiney (primarily filings by Pechiney with the SEC and the French Commission des
opérations de bourse). However, to date Pechiney has granted Alcan only limited access to non-public information
regarding Pechiney and Alcan has no means of compelling such access. In addition, Pechiney's primary financial
statements are prepared in accordance with generally accepted accounting principles ("GAAP") in France while
Alcan's primary financial statements are prepared in accordance with Canadian GAAP. There are differences
between Canadian and French GAAP. The unaudited pro forma information included herein is prepared based on
the US GAAP information that Pechiney discloses publicly. Alcan has not been in a position to verify the Pechiney
information or the pro forma information about the combined entity included in this presentation. Some of the
information about Pechiney in this presentation is based on good faith estimates by Alcan or industry sources that
may be materially inaccurate. The pro forma information presented is not necessarily indicative of the operating
results or financial condition that would have been achieved had Alcan's offer for Pechiney been completed during
the periods or at the times presented, nor is this information necessarily indicative of future results or conditions of
Alcan after it has acquired Pechiney. The pro forma information does not reflect the impact of synergies that Alcan
expects to realize over time or the costs associated with the integration of operations necessary to achieve such
synergies nor does it reflect the impact of significant divestitures that Alcan must make as required by antitrust
regulators. Some of the risks associated with the information about Pechiney and the combined Alcan and
Pechiney is discussed under "Risk Factors" in the prospectus, dated October 24, 2003, included in the registration
statement that we have filed with the SEC in connection with the offer.
Certain terms used in this presentation are defined in the appendix.
©2003 ALCAN INC.
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