Aluminium A key to sustainable growth in the Middle East

Aluminium: A key tosustainable growth in theMiddle EastJacynthe Côté, chief executive, Rio Tinto AlcanARABAL – Muscat, Oman – 14 November 2011

Global economic situationDow Jones ASX FTSE14 November 2011 Aluminium: A key to sustainable growth in the Middle East2

Strong long-term growth story for aluminiumPercentage of saturation level*100Titanium dioxide9080706050Crude steelCopperNickelAluminium40302010BoratesDiamonds02,000 10,000 18,000 26,000 34,000 42,000 50,0002010 2020 2030 2040 205058,000World GDP/capita2,000 US$ PPP* Saturation level – point at which consumption per capita does not increase with income levels.Source: Rio Tinto14 November 2011 Aluminium: A key to sustainable growth in the Middle East3

Supply has mainly tracked demandwith growth in ChinaChina Middle East India ROW40%Million tonnes (aluminium)5%9%46%14 November 2011 Aluminium: A key to sustainable growth in the Middle East4

Streamlining of Rio Tinto Alcan• Pacific Aluminium assets– Gove bauxite mine andalumina refinery– Boyne Island, Tiwai Point, BellBay and Tomago smelters– Gladstone power station• Europe and US assets– Specialty alumina in Franceand Germany– Gardanne refinery– Sebree and Lynemouthsmelters• Strong balance sheet enablesRio Tinto to choose the mostopportune method and time todivest these assetsShare of production(000’s tonnes)2010 YTDSept2011Bauxite Rio Tinto Alcan 25,861 20,641Pacific Aluminium 7,190 5,330Alumina Rio Tinto Alcan 6,108 4,278Europe and US 508 423Pacific Aluminium 2,473 1,892Aluminium Rio Tinto Alcan 2,395 1,787Europe and US 341 276Pacific Aluminium 1,054 80014 November 2011 Aluminium: A key to sustainable growth in the Middle East5

Competitive advantages• Access to bauxite: largest producer with interests in three of the world’sfour largest bauxite mines• Power position: majority of power sourced from self-generatedhydropower and long-term contracts• Technology and innovation: proprietary AP Technology for low-cost,efficient aluminium smelting• People: remarkable talent throughout our global operations• Pipeline of growth projects: pathway to move smelting and aluminarefining positions to the lower half of the cost curve– Focus on high-return capacity creep and modernisation projects– Pace greenfield projects in line with market conditions14 November 2011 Aluminium: A key to sustainable growth in the Middle East6

Focus on executing Tier 1 growth projectsAP60 Phase IShipshawKitimatYarwun IISouth of EmbleyISAL14 November 2011 Aluminium: A key to sustainable growth in the Middle East7

Robust pipeline for growth beyond 2014KitimatmodernisationISALmodernisationShipshawpower stationAlouette IIIAP60 Phase 1KemanoAP60Phase 2Alma IIGuinea refineryCBG Bauxitemine expansionSohar II, OmanMalaysiaWeipa Southof EmbleyIn executionOptionsAmargosaCameroonbrownfield/greenfieldHydropower projectsYarwun IIBauxite brownfieldBauxite greenfieldAlumina brownfieldAlumina greenfieldAluminium brownfieldAluminium greenfieldElectricity projectsParaguayQAL Co-gen14 November 2011 Aluminium: A key to sustainable growth in the Middle East8

Aluminium growth in the Middle EastThe region is already a major primary aluminium producerwith more growth to come in the near future.6,0005,000Global CAGR of 5.4% per year versusMiddle East CAGR of 9% per year in same period4,0003,0002,000Saudi ArabiaQatarOmanUAEIranBahrainEgypt1,00002000 2008 2010 2015FNote: 2015 forecast is with the confirmed/under serious consideration projects.14 November 2011 Aluminium: A key to sustainable growth in the Middle East9

Aluminium industry: a powerful impetusthat generates value and jobs• Creates valuable employment for local communities• Supports education and training for local people• There is strength in the creation of substantial socialand economic benefits for host communitiesSohar, Oman14 November 2011 Aluminium: A key to sustainable growth in the Middle East10

Summary• Aluminium: a generator of sustainable socioeconomicgrowth development• Aluminium industry can be a solution for the MiddleEast’s demographics challenges• Bright future for the aluminium industry, particularlyin the Middle East• Rio Tinto Alcan looks forward to continue playing avery active role in the development of the Middle Eastaluminium industry14 November 2011 Aluminium: A key to sustainable growth in the Middle East11