1. Asia – The Only Future? A Producer’s Perspective Platts Aluminium Symposium San Diego, January 2005

2. 2 Major Asian countries: ChinaChina Production 6600 TT Consumption 6100 TT Balance +500 TT JapanJapan Production - - - Consumption 2100 TT Balance -2100 TT S.KoreaS.Korea Production - - - Consumption 1000 TT Balance -1000 TT N.America L.America ProductionConsumptionBalance Legend: The ‘macro’ guide for the exporting producer Global balance - 2004 ‘000 MT Asia Russia Oceania Africa Europe Source: Rusal, Brook Hunt

3. 3 Major Asian countries: ChinaChina Production 9750 TT Consumption 9100 TT Balance +650 TT JapanJapan Production - - - Consumption 2250 TT Balance -2250 TT S.KoreaS.Korea Production - - - Consumption 1250 TT Balance -1250 TT N.America L.America ProductionConsumptionBalance Legend: Asia certainly - but don’t forget Europe! Global balance - 2009 ‘000 MT Asia Russia Oceania Africa Europe Source: Rusal, Brook Hunt

4. 4 USA China W.Europe Aluminium consumption by industry Japan Other Asia Source: Rusal, Brook Hunt, Antaike

5. 5 Aluminium consumption increase (in comparison with 2003) Source: Rusal, Brook Hunt China will remain the “big” story for production and consumption. But Central / Eastern Europe presents opportunities. Traditional markets US & Japan remain attractive as large volumes / higher value.

6. 6 Primary aluminium consumption in major regions 1998-2015 Source: Rusal, Brook Hunt Volume as important as growth

7. 7 Toyota – A brief case study As of May 2004 Toyota has 51 overseas manufacturing companies in 26 countries. Major focus on non - Japan Asia in 80’s, followed by China in 2 nd half of 90’s Most recent plants – Poland and Czech Republic Assembly plant planned for Russia in 2007 !

8. 8 Rusal – A brief case study Regional Allocation of Metal Regions2004 Actual (%)2009 Project (%) Japan / Korea2522 China55 Other Asia25 W. Europe2017 E/C Europe59 N. America2521 CIS1821

9. 9 Rusal – A brief case study (continued) Some lessons learnt in the “emerging” markets: Local representation High level of customer service Increased need to “add value” in the customers plants – technical support Increased emphasis as social responsibility - environmental - safety - community - governance