Portland Aluminium joint venture in Australia to reduce production

PITTSBURGH–(BUSINESS WIRE)–Alcoa Corporation (NYSE: AA) today announced that the Portland Aluminium smelter in the state of Victoria in Australia will begin to immediately reduce its overall production due to operational instability.

Production at the smelter will be reduced to approximately 75 percent of the site�s total consolidated capacity of 358,000 metric tons per year (mtpy). Alcoa’s share of the total capacity is 197,000 mtpy. The smelter, which has a total of 408 pots, had previously been operating at about 95 percent of its total capacity.

The smelter has recently faced instability and challenges related to the production of rodded anodes, which are necessary to convey electricity into the smelting pots.

“Our teams are focused on safely taking the production offline and working to restore stability across the facility,” said Bill Oplinger, Executive Vice President and Chief Operations Officer. “Completing this task in a controlled fashion is our priority as we work to improve operations.”

Portland Aluminium is an unincorporated joint venture taking in Alcoa of Australia Limited (55 percent), CITIC Nominees Pty Ltd (22.5 percent), and Marubeni Aluminium Australia Pty Ltd (22.5 percent). Alcoa of Australia Limited is owned by Alcoa Corporation (60 percent) and Alumina Limited (40 percent).

About Alcoa Corp.

Alcoa (NYSE: AA) is a global industry leader in bauxite, alumina and aluminum products with a vision to reinvent the aluminum industry for a sustainable future. With a values-based approach that encompasses integrity, operating excellence, care for people and courageous leadership, our purpose is to Turn Raw Potential into Real Progress. Since developing the process that made aluminum an affordable and vital part of modern life, our talented Alcoans have developed breakthrough innovations and best practices that have led to greater efficiency, safety, sustainability and stronger communities wherever we operate.

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Investor Contact:

James Dwyer

412-992-5450

James.Dwyer@alcoa.com

Media Contact:

Jim Beck

412-315-2909

Jim.Beck@alcoa.com