CINCINNATI–Alcoa (NYSE: AA) and the United Steelworkers (USW) have reached a
tentative agreement on a new 4-year labor contract covering 5,400
workers at 10 manufacturing locations in the United States.

The new agreement, subject to ratification by USW members, addresses the
key issues identified in the negotiations which began on May 17.

“We are pleased to have a tentative agreement that is both fair to
employees and addresses our cost concerns,” said Mick Wallis, president
of Alcoa North American Rolled Products and chair of the Company’s
Employee Relations Council. “We have spent the last two weeks working
through some tough issues, and feel that this tentative agreement
creates a future for good paying jobs at these plants. We hope for a
successful outcome after the local unions have had the opportunity to
talk to employees.”

The previous contract expired at 11:59 p.m. Central Time on May 31.
Local unions at all 10 plants are expected to complete their
ratification votes shortly after they share details of the agreement
with their local membership.

More information about the negotiations can be found at www.alcoanegotiations.com.