The Board of Directors of Alcoa (NYSE:AA) today declared (a) a quarterly
common stock dividend of 3 cents per share payable May 25, 2016 to
holders of record of the common stock at the close of business on May 6,
2016; and (b) a dividend of 93.75 cents per share on Alcoa’s $3.75
cumulative preferred stock (“Class A Stock”) payable July 1, 2016 to
holders of record of the Class A Stock at the close of business on June
10, 2016.

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 www.alcoa.com,
follow @Alcoa on Twitter at www.twitter.com/Alcoa
and follow us on Facebook at www.facebook.com/Alcoa.

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