Separation of Alcoa Inc. into Two Standalone Companies Complete

Arconic Begins Trading Today as “ARNC” on the NYSE

Arconic Inc. (NYSE: ARNC) launches today as a global leader in
multi-materials innovation, precision engineering and advanced
manufacturing, strongly positioned in attractive markets. The Company
begins trading today on the New York Stock Exchange (NYSE) under the
ticker “ARNC.”

In 2015, the businesses that today comprise Arconic recorded revenues of
approximately $12.5 billion. Of this, approximately 65 percent derived
from markets characterized by secular growth and compelling margins,
including aerospace and automotive; the balance – 35 percent – was from
markets with solid growth and attractive margins, such as specialty and
industrial products, and building and construction.

The separation of Alcoa Inc. into two standalone companies – Arconic
Inc. and Alcoa Corporation – took effect today through a pro rata
distribution by Arconic Inc. of 80.1 percent of the outstanding shares
of the newly-formed Alcoa Corporation. Alcoa Inc. shareholders receive
one share of Alcoa Corporation common stock for every three shares of
Alcoa Inc. common stock held as of the record date of October 20, 2016.
Alcoa Inc. shareholders also retain their shares of Alcoa Inc., which
become Arconic Inc. shares.

“Today we launch Arconic as a strong independent company,” said Arconic
Chairman and CEO Klaus Kleinfeld. “Our multi-year transformation while
part of Alcoa Inc. substantially improved our competitiveness and
profitability. Today, we are very well positioned as a leader in
attractive markets. Our culture combines driving innovation with a
relentless focus on operational excellence and cost control; this
positions Arconic to create significant value for our customers and
profitable growth for our shareholders.”

The company has a compelling financial profile with attractive margin
profile and significant future profitable growth upside. The businesses
have a relentless focus on cost reduction and strong track record of
productivity improvements, having consistently delivered savings above
$600 million per year. The Company takes a disciplined approach to
capital allocation, with a priority on high return uses. Additionally,
Arconic’s 19.9 percent retained interest in Alcoa Corporation is
available for monetization.

A leader in advanced technology solutions, Arconic is a major supplier
to the industry leaders in all sectors it serves. The Company’s position
as a development partner to industry leaders is a key driver of share
gains. The Company holds strong positions in attractive markets; 70
percent of Arconic’s 2015 revenues¹ came from products where
the Company holds either the number one or two market position.

Within aerospace, which accounts for approximately 40 percent of Arconic
total revenues, the Company develops and manufactures high performance,
engineered products and solutions for airframe structures and aero
engines. Since 2008, the Company has significantly grown its
capabilities through a combination of organic and inorganic technology
and innovation-focused investments. As a result, Arconic has gained
significant share on next generation aero engines and aero structures.
The Company can today supply over 90 percent of the components within
the jet engine, and it is a leader in structural parts for both metallic
and carbon fiber reinforced plastic (CFRP) aircraft. In fact, 85 percent
of the Company’s aerospace revenues come from products where it holds
either the number one or number two market position.

In the North American automotive market, Arconic invented the bonding
process to enable the mass-market shift from steel to aluminum, and it
is today at the forefront of capturing growing demand for aluminum sheet
as the industry shifts to light-weighting. The Company expects its North
American automotive sheet revenues to grow six-fold, from $229 million
in 2013 to $1.3 billion in 2018. Across its North American automotive
portfolio, 96 percent of the Company’s revenues come from products where
it is number one or number two in its market.

Arconic representatives will mark the Company’s trading debut as ARNC by
ringing the opening bell at the NYSE on November 2, 2016.

The Arconic Foundation, an independently endowed charitable
organization, is making its inaugural grant to an organization that
reflects the Arconic vision: Engineers Without Borders (EWB). The
$300,000 grant will support the mission of EWB in major countries where
Arconic operates: the United States, the United Kingdom, France,
Germany, Mexico and Brazil. EWB applies engineering and ingenuity to
infrastructure projects worldwide to help build a resilient, sustainable
future.

About Arconic

Arconic Inc. (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 ensures customer success and shareholder value.

Dissemination of Company Information

Arconic intends to make future announcements regarding Company
developments and financial performance through its website at www.arconic.com.

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,”
“guidance,” “goal,” “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, forecasts relating to future financial results or operating
performance. 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 Arconic 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) the impact of the
separation on the businesses of Arconic; (b) deterioration in global
economic and financial market conditions generally; (c) unfavorable
changes in the markets served by Arconic; and (d) the other risk factors
discussed in Arconic’s Form 10-K for the year ended December 31, 2015,
and other reports filed with the U.S. Securities and Exchange Commission
(SEC). Arconic 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.

______________________

¹

References to Arconic’s 2015 revenues refer to
the combined revenues of the Value-Add (Arconic) segments of Alcoa Inc.
in 2015: Global Rolled Products (excluding the rolling mill operations
in Warrick, IN, and Saudi Arabia), Engineered Products and Solutions and
Transportation and Construction Solutions.

Arconic Inc.
Investor Contact:
Matt Garth, 212-836-2674
Matthew.Garth@arconic.com
or
Media Contact:
Shona Sabnis, 212-836-2626
Shona.Sabnis@arconic.com