Alcoa Names Kate Hargrove Ramundo Future Arconic Chief Legal Officer

August 24, 2016

Chief Legal Officer Audrey Strauss to Retire after Distinguished Career

Changes Effective upon Separation of Company

Alcoa (NYSE:AA) announced today that it has named Kate Hargrove Ramundo
Executive Vice President, Chief Legal Officer and Corporate Secretary of
the future Arconic Inc., a role which will take effect upon the
Company’s separation later this year. Ramundo will succeed Audrey
Strauss, Alcoa Executive Vice President, Chief Legal Officer and
Corporate Secretary, who plans to retire at the completion of Alcoa’s

“Audrey Strauss’s wise counsel and diligent legal representation have
been invaluable to Alcoa’s successful transformation and preparation for
its historic separation. She retires from this key executive role with
our highest respect, admiration and best wishes for this new chapter in
a career of extraordinary achievement,” said Alcoa Chairman and CEO
Klaus Kleinfeld. “As we chart a new future as Arconic, it is clear that
Kate Ramundo’s impressive legal acumen, extensive international
experience and successful track record in a wide range of business
situations will be an ideal fit for our innovation-driven growth

After the Company’s separation, the future Arconic will comprise the
current Global Rolled Products (other than the rolling mill operations
in Warrick, IN and Saudi Arabia, which will move to Alcoa Corporation),
Engineered Products and Solutions, and Transportation and Construction
Solutions segments. Arconic will be an innovator of high performance
multi-material products and solutions and a global leader in precision
engineering and advanced manufacturing. The future Alcoa Corporation, a
global, cost-competitive industry leader, will hold the current Upstream
and North American packaging businesses. The separation is on track to
be completed in the second half of 2016.

Biographical Information on Kate Hargrove Ramundo:

Kate Hargrove Ramundo comes to the future Arconic most recently from
ANN, Inc., based in New York, where she served as Executive Vice
President, General Counsel and Secretary. Kate earlier served as Vice
President, Deputy General Counsel and Assistant Secretary of
Colgate-Palmolive. Among her other positions during her 15-year tenure
at Colgate, she served as General Counsel of the Europe/South Pacific
division, and later managed global specialty legal activities throughout
the entire Colgate world, including North America, Europe, Asia, South
Pacific, Africa, the Middle East and Latin America. She began her career
as a litigator, practicing at major New York-based law firms.

Kate holds a bachelor’s degree from Georgetown University, where she
graduated Phi Beta Kappa and magna cum laude, and a J.D. from Columbia
University School of Law, where she was a Harlan Fiske Stone Scholar.

Dissemination of Company Information

Alcoa intends to make future announcements regarding Company
developments and financial performance through its website at

About Alcoa

A global leader in lightweight metals technology, engineering and
manufacturing, Alcoa innovates multi-material solutions that advance our
world. Our technologies enhance transportation, from automotive and
commercial transport to air and space travel, and improve industrial and
consumer electronics products. We enable smart buildings, sustainable
food and beverage packaging, high-performance defense vehicles across
air, land and sea, deeper oil and gas drilling and more efficient power
generation. We pioneered the aluminum industry over 125 years ago, and
today, our approximately 57,000 people in 30 countries deliver value-add
products made of titanium, nickel and aluminum, and produce
best-in-class bauxite, alumina and primary aluminum products. For more
information, visit,
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Forward-Looking Statements

This communication contains statements that relate to future events and
expectations and as such constitute forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of 1995.
Forward-looking statements include those containing such words as
“anticipates,” “believes,” “could,” “estimates,” “expects,” “forecasts,”
“intends,” “may,” “outlook,” “plans,” “projects,” “seeks,” “sees,”
“should,” “targets,” “will,” “would,” or other words of similar meaning.
All statements that reflect the Company’s expectations, assumptions or
projections about the future, other than statements of historical fact,
are forward-looking statements, including, without limitation,
statements regarding the separation transaction. Forward-looking
statements are not guarantees of future performance and are subject to
risks, uncertainties, and changes in circumstances that are difficult to
predict. Although the Company believes that the expectations reflected
in any forward-looking statements are based on reasonable assumptions,
it can give no assurance that these expectations will be attained and it
is possible that actual results may differ materially from those
indicated by these forward-looking statements due to a variety of risks
and uncertainties. Such risks and uncertainties include, but are not
limited to: (a) uncertainties as to the timing of the separation and
whether it will be completed; (b) the possibility that various closing
conditions for the separation may not be satisfied; (c) the outcome of
contingencies, including legal proceedings; (d) the impact of the
separation on the businesses of Alcoa; (e) the risk that the businesses
will not be separated successfully or such separation may be more
difficult, time-consuming or costly than expected, which could result in
additional demands on Alcoa’s resources, systems, procedures and
controls, disruption of its ongoing business and diversion of
management’s attention from other business concerns; and (f) the other
risk factors discussed in the Company’s Form 10-K for the year ended
December 31, 2015, and other reports filed with the SEC. The Company
disclaims any obligation to update publicly any forward-looking
statements, whether in response to new information, future events or
otherwise, except as required by applicable law.

Investor Contact:
Matt Garth, 212-836-2674
Media Contact:
Monica Orbe, 212-836-2632