Alcoa Agreement

The previous contract expired on May 31 at 11:59 a.m. .m. Central Time. Local unions of the 10 companies are expected to finalize their ratification votes shortly after sharing the details of the agreement with their local affiliation. “We welcome an interim agreement that is both fair to staff and expresses our cost concerns,” said Mick Wallis, President of Alcoa North American Rolled Products and Chair of the Company`s Relations Board. “We have spent the last two weeks resolving some difficult issues and we believe that this interim agreement creates a future for well-paying jobs in these factories. We hope for a successful result after the local unions have had the opportunity to talk to the workers. PITTSBURGH–(BUSINESS WIRE) –Alcoa today announced an agreement with workers` representatives at the San Ciprien aluminum plant in Spain to extend the formal consultation period for collective dismissal until September 28, 2020. Alcoa Corporation intends to make future announcements on business developments and financial performance through its website, www.alcoa.com and through press releases, Registrations with the Securities and Exchange Commission, conference calls and webcasts. If no sales contract is concluded by 27 September 2020, the company and workers` representatives would meet on 28 September 2020 for a day on the sole theme of a social plan that would include the state-subsidized unemployment benefit (ERTE) or, with the exception of an agreement on an ERTE, the implementation of a permanent collective redundancy. For more information on the negotiations, see www.alcoanegotiations.com. Clara Acebes Spain – 34 914068280 Clara.Acebes@alcoa.com The formal consultation period began on 25 June 2020 and focused on the review of a restructuring plan for the aluminium facility aimed at ending persistent and recurring financial losses.

On August 5, 2020, Alcoa announced that the last meeting of the formal consultation period had ended without agreement with workers` representatives. The agreement announced today extends the formal consultation period until 28 September 2020. The new agreement, which must be ratified by etc. members, addresses key issues raised during negotiations that began on 17 May. Investor Contact James Dwyer 412-992-5450 James.Dwyer@alcoa.com Alcoa and the United Steelworkers (USW) have reached an interim agreement on a new four-year employment contract for 5,400 workers at 10 production sites in the United States. Investor Contact James Dwyer 412-992-5450 James.Dwyer@alcoa.com Media Contacts Jim Beck 412-315-2909 Jim.Beck@alcoa.com Clara Acebes Spain – 34 914068280 Clara.Acebes@alcoa.com PITTSBURGH-(BUSINESS WIRE)- Alcoa Corporation today announced an agreement for the sale of its rolling oilsting business, owned by Alcoa Warrick LLC, owned by Emperor Aluminum Corporation for a total amount of approximately $670 million, including $587 million in cash and $83 million in other worker benefit commitments (OPEB) after retirement. If no sales contract were signed by September 27, 2020, Alcoa and workers` representatives would meet for one day to agree on a social plan including a state-subsidized unemployment benefit (ERTE) or the implementation of permanent collective redundancy.