Christian Jepsen to Join Alcoa as Vice President, Corporate Development

June 7, 2012

NEW YORK–Alcoa (NYSE:AA) announced today that Christian Jepsen will join Alcoa as
Vice President, Corporate Development this summer. He will be
responsible for developing and implementing Alcoa’s portfolio growth
strategies, including merger and acquisition, and divestiture
activities. Jepsen will also serve on the Alcoa Executive Council, the
senior leadership team that sets strategic direction for the company.

Jepsen comes to Alcoa from FLSmidth, a global engineering company
headquartered in Copenhagen, Denmark, that serves the cement and
minerals industries. His most recent position was Group Executive Vice
President and CEO of the company’s $3 billion global minerals business.
During his 22 years with FLSmidth, he has served as Chief Financial
Officer in several of the company’s larger businesses both in Denmark
and the U.S. Since 2000, he has led businesses and served in senior
executive positions for FLSmidth’s operations in the U.S. and globally.

Jepsen earned a bachelor’s and master’s degrees in business
administration at Aarhus University, Denmark, and completed the Harvard
Business School’s Advanced Management Program in 2003 and the General
Management Program at the European Center for Executive Development,
CEDEP, in Fontainebleau, France, in 1995.

“With a track record of success in both corporate finance and operations
in the minerals industry, he is uniquely qualified to lead our Corporate
Development organization, which has an important role in Alcoa’s future
growth,” said Alcoa Chairman and CEO Klaus Kleinfeld.

George King, Managing Director and Vice President for Corporate
Development, will continue to serve in a key leadership role within the
group, including overseeing major transactions on behalf of the company.
He will report to Jepsen.

About Alcoa
Alcoa is the world’s leading producer of primary
aluminum, fabricated aluminum and alumina. In addition to inventing the
modern-day aluminum industry, Alcoa innovation has been behind major
milestones in the aerospace, automotive, packaging, building and
construction, commercial transportation, consumer electronics and
industrial markets over the past 120 years. Among the solutions Alcoa
markets are flat-rolled products, hard alloy extrusions, and forgings,
as well as Alcoa® wheels, fastening systems, precision and investment
castings, and building systems in addition to its expertise in other
light metals such as titanium and nickel-based super alloys.
Sustainability is an integral part of Alcoa’s operating practices and
the product design and engineering it provides to customers. Alcoa has
been a member of the Dow Jones Sustainability Index for ten consecutive
years and approximately 75 percent of all of the aluminum ever produced
since 1888 is still in active use today. Alcoa employs approximately
61,000 people in 31 countries across the world. More information can be
found at