Let E,E′ be two A-algebras; for every A-homomorphism of algebras u:E→E′,u⊗1B is the unique B-homomorphism of algebras v:E⊗AB→E′⊗AB rendering commutative the diagram
Eu↓E′ϕEϕE′E⊗AB↓vE′⊗AB
Let C be a third commutative ring and σ:B→C a ring homomorphism; it is immediate that the canonical C-homomorphism
σ∗(ρ∗(E))→(σ∘ρ)∗(E)
mapping (x⊗1)⊗1 to x⊗1 for all x∈E (II, § 5, no. 1, Proposition 2) is an algebra isomorphism.
Bourbaki puts the proof directly after the statement, so what is above is the statement and its proof together.