Aluminum Can Stock

Current Status and Future View

Shashi Maudgal
President, Novelis Asia

September 28, 2012

The Canmaker Summit
About Novelis
Novelis is a Global Industry Leader

The world’s largest The world’s leading The world’s largest

producer of rolled recycler of used aluminum buyer of aluminum
aluminum products beverage cans

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Novelis Worldwide Footprint

Total Footprint
Employees Approx 11,000
Revenues $11.1 Billion
FRP Shipments 2,838 kt
Operations 26
Countries 11

North America South America Europe Asia

Employees 2,940 1,710 4,360 1,600
Revenues $4 billion $1.3 billion $3.8 billion $1.8 billion
Shipments 1,064 kt 375 kt 875 kt 524 kt

Based on FY2012 results; reported in US dollars.

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Portfolio Focused on Premium Products

20% Novelis FRP Shipments

by Market

6%
Can
61% High-End Specialties
13%
Automotive

Foil & Other

Based on FY12 FRP shipments of 3Mt

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 Long Term Global Trends in Aluminum Demand

Automotive Electronics & High- Beverage Can

End Specialties

>25%

Long-term 6%
annual growth
rate 4-5%
(CY10-15)

Strong long term outlook

Source: Novelis Estimates and March 2011 CRU

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 Novelis Asia Footprint

Rolled Products
Recycling
Research & Development Beijing Novelis Korea Limited
Regional Office
Seoul
Sales Center Yeongju •  Novelis Inc: 99%
Ulsan •  Other: 1%
Novelis China
Shanghai
Korea – Yeongju & Ulsan Plants

Hongkong

Malaysia

Malaysia - Bukit Raja Plant

Singapore

Alcom

•  Novelis Inc: 59%

•  Public: 41%
Source: Novelis Asia

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FRP market outlook

By 2015, Asia will represent about 50% of global aluminum FRP market

Avg. Annual 12%

Growth Rate
(CAGR %
1996-2014) 10%

8% Latin Asia
America Pacific

6% Middle East
& Africa
Europe
4%

2%
North
0% America
Size of FRP Market
(kt in 2014)
-2%
0 2,000 4,000 6,000 8,000 10,000 12,000

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Global Can Market
2011 Global Beverage Can Market: 254 billion cans

Europe
40 billion cans

North
America
109  billion 16%
cans
43%

25%
Asia
64 billion
9% 7% cans
South America
22 billion cans

Middle East, Africa & India

19 billion cans

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Includes Aluminum & Steel Cans, and Metal Bottles
 Key Market Trends by Beverage Type

Other
Water
Carbonates
Beer Global: Can Only Asia: Can Only
300
CAGR
43 120
Billions of 250 2% 1
units 39 100 CAGR

1 1%
200 32 80
1 130 1% 22
2% 60
119 21
150 2% 16

109 40 19 15
8%
100 20 11 43
29
16
5% 119 -
50 96 CY06 CY11 CY16
73

-
CY06 CY11 CY16

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 Key Market Trend by Material Type

Glass
PET
Can

1,400 Global Asia

Billions of 1,200 CAGR 400

CAGR
units 185

465 300 5%
1,000
2% 147
413
800 200 121
390 7% 193
135
600 100
4% 504 86
5%
413 64 80
400 326 46
-
CY06 CY11 CY16
200 3%
254 293
215
-
CY06 CY11 CY16

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Global Can Organization
Global Can Commercial Organization

Zurich

Atlanta
Seoul

Dubai

Sao Paulo

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Expansion Strategy
Korean Rolling Expansion to 1 Million tons – Startup in Fall 2013

Yeongju
2 Stand Cold Mill

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Korean Rolling Expansion to 1 Million tons – Startup in Fall 2013

Ulsan
3 Stand Hot Mill

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 Brazil Rolling Expansion

▶  Investing $380M in our operations in Brazil to expand our

rolling and recycling capabilities and to add a coating line for
can end stock.
▶  Will increase to 220kt rolling capacity

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Focus on Innovation
New Global Research & Technology Center

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New Global Research & Technology Center

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Can Innovation

Increased recycled
content

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Can Innovation

New coatings

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Can Innovation

New shapes
including bottles

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Sustainability
Sustainability: Increasing Recycled Content

80%
by 2020

50%
by 2015
39%
33% in
in 2010
2012

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Building the World’s Largest Recycling Network

Oswego, NY Latchford, UK
Berea, KY Norf, Germany
Greensboro, Pieve, Italy
Yeongju, Korea
GANachterstedt, Germany

Yeongju, Korea
Ulsan, Korea

Pinda, Brazil
Pinda, Brazil

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Korean Recycling Expansion

Yeongju recycling center commissioned in Sep 2012

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Korean Recycling Expansion

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The Novelis Difference

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Thank You