The Board of Directors of Alcoa (NYSE:AA) today declared (a) a quarterly
common stock dividend of 3 cents per share payable February 25, 2016 to
holders of record of the common stock at the close of business on
February 5, 2016; (b) a dividend of 93.75 cents per share on Alcoa’s
$3.75 cumulative preferred stock (“Class A Stock”) payable April 1, 2016
to holders of record of the Class A Stock at the close of business on
March 11, 2016; and (c) a dividend of $6.71875 per share on Alcoa’s
5.375% Class B Mandatory Convertible Preferred Stock (“Class B Stock”)
payable April 1, 2016 to holders of record of the Class B Stock at the
close of business on March 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 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
Investor Contact
Nahla Azmy, 212-836-2674
Nahla.Azmy@alcoa.com
or
Media Contact
Monica Orbe, 212-836-2632
Monica.Orbe@alcoa.com