X0202 3 2006-02-27 0 0001304280 Novelis Inc. NVL 0001354406 Batt Geoffrey P 3399 PEACHTREE ROAD, NE SUITE 1500 ATLANTA GA 30326 0 1 0 0 Sr. V.P. & CFO Common Shares 100 D Employee Share Options 18.94 2010-10-18 Common Shares 4564 D Employee Share Options 21.49 2013-09-24 Common Shares 14883 D Employee Share Options 23.74 2014-09-22 Common Shares 29766 D Employee Share Options 19.03 2011-09-26 Common Shares 19844 D Phantom Units Common Shares 3829.6724 D Phantom Units Common Shares 12150 D Issuer lost its foreign private issuer status as of February 27, 2006 and therefore became subject to Section 16 of the Securities Exchange Act of 1934. Option is fully vested as to 100% of the shares of the grant. Option has vested as to 25% of the shares subject of the grant and will vest as to the remaining shares in accordance with the following schedule: 1/3 of the remaining unvested shares will vest on 01/06/07; 1/2 of the remaining unvested shares after 01/06/07 will vest on 01/06/08 and the option will become fully vested as to all shares on 01/06/09. The phantom units were awarded under the Alcan, Inc. Total Shareholder Return Performance Plan ("TSR Plan"), prior to the issuer's separation from Alcan, Inc., and the obligations were assumed by the issuer. Each phantom unit is equivalent to one Novelis common share. Phantom units will be paid only in cash on October 1, 2006 at a value per unit equal to the closing price of Novelis common shares as determined under the TSR Plan. The phantom units were awarded under the Novelis Founders Performance Award Plan ("Founders Plan"). The share price improvement targets were achieved with respect to the units reported and each unit is equivalent to one Novelis common share. The phantom units are payable only in cash at a value per unit equal to the closing price of Novelis common shares as determined under the Founders Plan. /s/ Christopher Courts, Attorney-in-Fact 2006-03-09