Alcoa Corporation (NYSE:AA, ASX: AAI)) ("Alcoa" or the "Company") announced the ratification of a new labor agreement with the United Steelworkers (USW) at the Company's U.S. smelters following a vote by union membership. The agreement was ratified by a wide margin and covers approximately 965 employees at Warrick Operations in Indiana and Massena Operations in New York.

The agreement is effective from May 16, 2026, through May 15, 2030.

We are pleased to have reached this outcome and appreciate the efforts of everyone involved in the negotiation and ratification process and remain focused on maintaining safe and reliable operations while serving our customers and communities.

About Alcoa Corporation

Alcoa (NYSE:AA, ASX: AAI)) is a global industry leader in alumina and aluminum products with a Vision to build a legacy of excellence for future generations. With a values-based approach that encompasses integrity, operating with excellence, care for people and lead with courage, our Purpose is to Turn Raw Potential into Real Progress. Since developing the process that made aluminum an affordable and vital part of modern life, our talented Alcoans have developed breakthrough innovations and best practices that have led to greater safety, efficiency, sustainability and stronger communities wherever we operate.

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Investor Contact:

Jason Duty

724-316-4366

Jason.M.Duty@alcoa.com

Media Contact:

Sarah Ayer

412-965-7622

Sarah.Ayer@alcoa.com

Alcoa Announces Ratification of Labor Agreement at U.S. Smelters