The Board of Directors of Alcoa (NYSE:AA) today declared (a) a quarterly
common stock dividend of 3 cents per share payable February 25, 2015 to
holders of record of the common stock at the close of business on
February 6, 2015; (b) a dividend of 93.75 cents per share on Alcoa’s
$3.75 cumulative preferred stock (“Class A Stock”) payable April 1, 2015
to holders of record of the Class A Stock at the close of business on
March 13, 2015; 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, 2015 to holders of record of the Class B Stock at the
close of business on March 15, 2015.

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 59,000 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
Kelly Pasterick, 212-836-2674
Kelly.Pasterick@alcoa.com
or
Media Contact
Monica Orbe, 212-836-2632
Monica.Orbe@alcoa.com