Alcoa Approves Dividend on Mandatory Convertible Preferred Stock

November 20, 2015

Alcoa (NYSE:AA) today announced its Board of Directors declared a
dividend of $6.71875 per share on the outstanding 5.375% Class B
Mandatory Convertible Preferred Stock (“Class B Stock”) payable on
January 1, 2016 to shareholders of record of the Class B Stock at the
close of business on December 15, 2015. The dividend on the Class B
Stock is equivalent to a dividend of $0.671875 per Depositary Share
(each Depositary Share representing a 1/10th interest in a
share of Class B Stock).

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 60,000 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,
follow @Alcoa on Twitter at
and follow us on Facebook at

Nahla Azmy, 212-836-2674
Monica Orbe, 212-836-2632