The Board of Directors of Alcoa (NYSE:AA) today declared a dividend of
$6.71875 per share on Alcoa’s 5.375% Class B Mandatory Convertible
Preferred Stock (“Class B Stock”) payable July 1, 2016 to holders of
record of the Class B Stock at the close of business on June 15, 2016.
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 58,000 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 www.alcoa.com,
follow @Alcoa on Twitter at www.twitter.com/Alcoa
and follow us on Facebook at www.facebook.com/Alcoa.

Alcoa
Investor
Matthew Garth, 212-836-2714
Matthew.Garth@alcoa.com
or
Media
Monica Orbe, 212-836-2632
Monica.Orbe@alcoa.com