Government of Québec confirms that Rio Tinto’s offer for Alcan meets all of the requirements of the Continuity Agreement

Montreal, Melbourne and London — August 7, 2007 — The Government of Québec
announced today that it has accepted the conclusions of the Board of Directors of Alcan with respect to the proposed acquisition of Alcan by a subsidiary of Rio Tinto, announced on July 12, 2007, and has confirmed that Rio Tinto’s offer respects the terms of the Continuity Agreement between Alcan and the Government of Québec, signed in 2006 as part of a US$1.8 billion investment program for the Saguenay-Lac-Saint-Jean region.

Rio Tinto’s chief executive, Tom Albanese, stated: “This decision by the Government of
Québec underscores the shared values of Rio Tinto and Alcan, including our dedication to
environment, health, safety and local communities. As we move forward together, we are confident that the continued and expanded commitments to Québec will ensure sustainable growth for the Province’s aluminum industry. Rio Tinto has been an investor in Québec and Canada for decades and is committed to growing the combined Rio Tinto Alcan presence, particularly in Québec. The announcement by the Government of Québec means we have satisfied one of the conditions of our offer, and brings completion one step closer.”

“We are very pleased that the Government of Québec agrees that the proposed transaction
with Rio Tinto will maintain Alcan’s commitments to the province,” said Dick Evans, President and Chief Executive Officer, Alcan Inc. “The Continuity Agreement was a reflection of the outstanding partnership Alcan has historically enjoyed with Québec’s government and communities. Ensuring that this partnership continues for decades to come was vitally important to Alcan and a key element in our deliberations as to the right course for our company. We are excited by the opportunities that Rio Tinto Alcan represents, and that Québec will serve as home base to the world’s leading aluminum business.”

For the purposes of the Continuity Agreement, Alcan agreed that, in the event of a proposed
acquisition of control, its Board of Directors would only approve a prospective acquirer who
met the necessary requirements in terms of ongoing commitments relevant to the health and prospects of the economy and society of Québec. Rio Tinto has satisfactorily demonstrated to the Board of Directors of Alcan and to the Government of Québec that, as a result of the proposed transaction, there is no reasonable basis to believe that there will be a
diminishment of Alcan’s commitment to the economy and society of Québec or a direct or
indirect negative impact on the economy and society of Québec.

About Alcan
Alcan Inc. (NYSE, TSX: AL) is a leading global materials company, delivering high quality
products, engineered solutions and services worldwide. With world-class technology and
operations in bauxite mining, alumina processing, primary metal smelting, power generation, aluminum fabrication, engineered solutions as well as flexible and specialty packaging today’s Alcan is well positioned to meet and exceed its customers’ needs. Alcan is represented by 68,000 employees, including its joint-ventures, in 61 countries and regions,
posted revenues of US$23.6 billion in 2006. The Company has featured on the Dow Jones
Sustainability World Index. For more information, please visit: www.alcan.com.

About Rio Tinto
Rio Tinto is a world leader in exploration, extraction and adding value to mineral resources. The group operates in the aluminum, iron, industrial minerals (borax, titanium dioxide, salt, and talc), gold, copper, diamond and energy (coal and uranium) sectors.

Rio Tinto employs some 35,000 employees in 20 countries around the world, of which
approximately 4,300 are in Canada. Rio Tinto’s Canadian holdings include QIT Fer et Titane
Inc., of Sorel-Tracy and Havre St. Pierre, Quebec; the Iron Ore Company of Canada of Sept-Iles, Quebec and Labrador City, Newfoundland and Labrador; Diavik Diamond Mines, of Yellowknife, Northwest Territories; and Rio Tinto Exploration, headquartered in Vancouver, British Columbia with projects throughout Canada. All are amongst the world leaders in their respective sectors.

The Group’s objective is to maximize the overall long term return to shareholders through a strategy of investing in large, cost competitive mines, driven by the quality of each
opportunity, not the choice of commodity.

Wherever Rio Tinto operates, the health and safety of its employees is the first priority. The Group seeks to contribute to sustainable development. It works as closely as possible with the host countries and communities, respecting their laws and customs and ensuring a fair share of benefits and opportunities.

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