Brand reflects iconic heritage, continued commitment to industry-shaping innovation

Lightweight metals leader Alcoa (NYSE: AA) today unveiled the name, logo
and tagline of its future Value-Add company: “Arconic. Innovation,
Engineered.” The future Upstream company will operate under the Alcoa
name. The Company’s separation into two, independent, publicly-traded
companies in the second half of 2016 remains on track.

The “Arconic” brand represents the future Value-Add company’s iconic
heritage and continued commitment to industry-shaping innovation:

• The “A” echoes Arconic’s proud Alcoa heritage;
• “Arc” represents the arc of progress and the continued pursuit of
  advancement for customers, employees, shareholders and communities; and
• “-conic” speaks to the company’s history of creating iconic products
  and its constant focus on the next breakthrough innovation.

The tagline, “Innovation, Engineered,” communicates the company’s
mission – to invent, develop and deliver products and solutions for high
performance customers and industries through precision engineering and
advanced manufacturing.

The logo is a two-dimensional icon that the eye sees as a
three-dimensional projection, symbolizing Arconic’s ambition and ability
to make what is often deemed impossible real. Its silhouette pays homage
to the Alcoa mark, while the color represents the company’s vibrant,
dynamic culture.

“The ‘Arconic’ brand fuses our extraordinary heritage with our highly
promising future,” said Alcoa Chairman and Chief Executive Officer Klaus
Kleinfeld. “It echoes our 127-year history of invention – and
reinvention. Our logo depicts the realm of possibility brought to life.
It reflects our vision of limitless innovation solving complex
engineering challenges, to transform the way we fly, drive, build,
package and power. And it represents the ingenuity of our people, who
are dedicated to inventing, developing, and delivering high-quality,
innovative products and solutions that contribute to our customers’
success and create shareholder value.”

The Company also unveiled a fresh iteration of the Alcoa mark for the
Upstream company. With the symbol removed from its enclosure, this new
logo represents a transformed and agile Upstream company characterized
by out-of-the-box thinking. Its bold, geometric capital “A,” with the
sharp apex, signifies an upward trajectory and constant pursuit of
stronger performance. Finally, the new Alcoa logo will remain “Alcoa
blue,” reflecting the strong foundation upon which the company is built.

“The new Alcoa mark represents a transformed and agile Upstream company:
resilient against market down-swings and poised to capitalize on
upswings,” said Kleinfeld. “And so, with today’s announcements, we move
closer to launching two leading-edge companies, each ready to define and
seize the future.”

Both Arconic and Alcoa will be domiciled in the United States and listed
on the New York Stock Exchange, Arconic as ARNC and Alcoa as AA. Both
will be industry-leading, FORTUNE 500 companies. The Upstream Company
will comprise the five business units that today make up Global Primary
Products: Bauxite, Alumina, Aluminum, Cast Products and Energy. Arconic
will include the three business segments that today comprise Alcoa’s
Value Add portfolio: Global Rolled Products, Engineered Products and
Solutions, and Transportation and Construction Solutions.

Additional resources: Please visit www.alcoa.com/arconic
and www.alcoa.com/alcoabrand
for more information and videos.

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.

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,”
“intends,” “may,” “outlook,” “plans,” “projects,” “seeks,” “sees,”
“should,” “targets,” “will,” “would,” or other words of similar meaning.
All statements that reflect Alcoa’s expectations, assumptions or
projections about the future other than statements of historical fact
are forward-looking statements, including, without limitation,
statements regarding the separation transaction; the future performance
of the Value-Add and Upstream companies if the separation is completed;
the expected benefits of the separation; projections of improved
profitability, enhanced shareholder value, competitive position, market
share, growth opportunities, revenues, cash flow or other financial
items of the companies; the expected timing of completion of the
separation; and the expected qualification of the separation as a
tax-free transaction. 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 Alcoa 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) uncertainties as to
the timing of the separation and whether it will be completed; (b) the
possibility that various closing conditions for the separation may not
be satisfied; (c) failure of the separation to qualify for the expected
tax treatment; (d) the possibility that any third-party consents
required in connection with the separation will not be received; (e) the
impact of the separation on the businesses of Alcoa; (f) the risk that
the businesses will not be separated successfully or such separation may
be more difficult, time-consuming or costly than expected, which could
result in additional demands on Alcoa’s resources, systems, procedures
and controls, disruption of its ongoing business and diversion of
management’s attention from other business concerns; (g) material
adverse changes in aluminum industry conditions; (h) deterioration in
global economic and financial market conditions generally; (i)
unfavorable changes in the markets served by Alcoa; (j) the impact of
changes in foreign currency exchange rates on costs and results; (k)
increases in raw materials and other costs; (l) the inability to achieve
the level of revenue growth, cash generation, cost savings, improvement
in profitability and margins, fiscal discipline, or strengthening of
competitiveness and operations anticipated from restructuring programs
and productivity improvement, cash sustainability, technology
advancements (including, without limitation, advanced aluminum alloys,
Alcoa Micromill, and other materials and processes), and other
initiatives; (m) Alcoa’s inability to realize expected benefits, in each
case as planned and by targeted completion dates, from acquisitions,
divestitures, facility closures, curtailments, or expansions, or
international joint ventures; (n) political, economic, and regulatory
risks in the countries in which Alcoa operates or sells products; (o)
the outcome of contingencies, including legal proceedings, government or
regulatory investigations, and environmental remediation; (p) the impact
of cyber attacks and potential information technology or data security
breaches; (q) the potential failure to retain key employees while the
separation transaction is pending or after it is completed; (r) the risk
that increased debt levels, deterioration in debt protection metrics,
contraction in liquidity, or other factors could adversely affect the
targeted credit ratings for the Value-Add company or the Upstream
company; and (s) the other risk factors discussed in Alcoa’s Form 10-K
for the year ended December 31, 2015, and other reports filed with the
U.S. Securities and Exchange Commission. Alcoa 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.

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