Arconic Announces $700 Million Accelerated Share Repurchase

February 19, 2019

NEW YORK–(BUSINESS WIRE)–Arconic Inc. (NYSE:ARNC) today announced that it has entered into an
accelerated share repurchase (ASR) agreement with JPMorgan Chase Bank,
National Association, London Branch, to repurchase $700 million of
Arconic’s common stock, pursuant to the share repurchase program
previously authorized by the Board of Directors.

Under the ASR agreement, Arconic will receive initial delivery of
approximately 31.9 million shares on February 21, 2019. The final number
of shares to be repurchased will be based on the volume-weighted average
price of Arconic’s common stock during the term of the transaction, less
a discount. The ASR agreement is expected to be completed during the
first half of 2019.

After giving effect to the share repurchase under the ASR agreement,
approximately $300 million remains available under the prior
authorization by the Board of Directors for share repurchases through
the end of 2020.

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: Twitter,
and YouTube.

Dissemination of Company Information

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developments and financial performance through its website on

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, including, without
limitation, expectations relating to share repurchases, which may be
subject to market conditions, legal requirements and other
considerations. 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) the inability to achieve the level of
revenue growth, cash generation, cost savings, improvement in
profitability and margins, fiscal discipline, or strengthening of
competitiveness and operations anticipated or targeted; (d) competition
from new product offerings, disruptive technologies or other
developments; (e) political, economic, and regulatory risks relating to
Arconic’s global operations, including compliance with U.S. and foreign
trade and tax laws, sanctions, embargoes and other regulations; (f)
manufacturing difficulties or other issues that impact product
performance, quality or safety; (g) 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; (h) the impact of cyber attacks and
potential information technology or data security breaches; (i) changes
in discount rates or investment returns on pension assets; (j) the
impact of changes in aluminum prices and foreign currency exchange rates
on costs and results; (k) the outcome of contingencies, including legal
proceedings, government or regulatory investigations, and environmental
remediation, which can expose Arconic to substantial costs and
liabilities; and (l) 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. Market projections are
subject to the risks discussed above and other risks in the market. The
statements in this release are made as of the date of this release, even
if subsequently made available by Arconic on its website or otherwise.
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.

Paul T. Luther
(212) 836-2758

Justin Falce
(412) 553-2666