Arconic Announces Update on Strategy and Portfolio Review

January 22, 2019

NEW YORK–(BUSINESS WIRE)–Arconic Inc. (NYSE: ARNC) today announced that its Board of Directors
has determined to no longer pursue a potential sale of the company as
part of its strategy and portfolio review.

John C. Plant, Chairman of Arconic, said, “Together with management, we
have been conducting a rigorous and comprehensive strategy and portfolio
review over the past year and as part of that process considered a sale
of the company, among other matters. However, we did not receive a
proposal for a full-company transaction that we believe would be in the
best interests of Arconic’s shareholders and other stakeholders.”

“We will continue with the previously announced sale process for our
Building and Construction Systems business. More broadly, we remain
strongly focused on creating value for Arconic shareholders, through
continued operational improvements and through other potential
initiatives which we have identified in our strategic review.”

About Arconic

Arconic (NYSE: ARNC) creates breakthrough products that shape
industries. Working in close partnership with our customers, we solve
complex engineering challenges to transform the way we fly, drive, build
and power. Through the ingenuity of our people and cutting-edge advanced
manufacturing techniques, we deliver these products at a quality and
efficiency that ensure customer success and shareholder value. For more
Follow Arconic: TwitterInstagramFacebookLinkedIn and YouTube.

Forward-Looking Statements

This release 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,”
“goal,” “guidance,” “intends,” “may,” “outlook,” “plans,” “projects,”
“seeks,” “sees,” “should,” “targets,” “will,” “would,” or other words of
similar meaning. All statements that reflect Arconic’s expectations,
assumptions or projections about the future, other than statements of
historical fact, are forward-looking statements. These statements
reflect beliefs and assumptions that are based on Arconic’s perception
of historical trends, current conditions and expected future
developments, as well as other factors Arconic believes are appropriate
in the circumstances. Forward-looking statements are not guarantees of
future performance and are subject to risks, uncertainties and changes
in circumstances that are difficult to predict, which could cause actual
results to differ materially from those indicated by these statements.
Such risks and uncertainties include, but are not limited to: (a)
deterioration in global economic and financial market conditions
generally; (b) unfavorable changes in the markets served by Arconic; (c)
Arconic’s inability to realize expected benefits, in each case as
planned and by targeted completion dates, from acquisitions,
divestitures, facility closures, curtailments, expansions, or joint
ventures; and (d) the other risk factors summarized in Arconic’s Form
10-K for the year ended December 31, 2017 and other reports filed with
the U.S. Securities and Exchange Commission. Arconic disclaims any
intention or obligation to update publicly any forward-looking
statements, whether in response to new information, future events, or
otherwise, except as required by applicable law.

Media Contact
Esra Ozer
Steve Lipin/Danielle Belopotosky
Gladstone Place Partners