Alcoa Announces Deal to Supply Low-Carbon EcoLumTM Aluminum to Speira; Sees Strong Growth in Sustainable Product Portfolio

Alcoa Corp. (AA: NYSE) announced today that it has entered into a supply agreement to provide low-carbon EcoLum^TM aluminum to Speira, a global aluminum rolling and recycling company.

Alcoa's EcoLum™ brand is part of the Company's Sustana^TM family of low-carbon products, the most comprehensive in the aluminum industry.

"We're proud to supply Speira with low-carbon aluminum and assist our customer in their pursuit to continuously produce high-quality products with the environment in mind," said Kelly Thomas, Alcoa's Executive Vice President and Chief Commercial Officer.

Alcoa is seeing increased demand for its Sustana aluminum products, particularly in the European market. In addition to EcoLum, the Sustana line also includes EcoDura^TM aluminum, which includes at least 50 percent recycled content, and EcoSource^TM, the world's only low-carbon, smelter grade alumina brand.

"In 2022, we expect to see year-over-year sales of both EcoLum and EcoDura increase more than three-fold," Thomas said. "From mine to metal, our integrated approach to sustainability across the value chain provides an inherent advantage for Alcoa and our customers."

Speira is a leading producer and recycler of advanced rolled aluminum products, serving the automotive, packaging, printing, engineering, and building and construction industries. It operates seven manufacturing facilities in Germany and Norway.

"In Speira, we share the passion of reducing the carbon footprint of our products and driving the decarbonization of our business," said Reinhild Schmidt, Senior Vice President of Strategic Operations at Speira. "The partnership with Alcoa and the decision to purchase EcoLum is a natural and important step on this path."

EcoLum is produced at hydroelectric-powered aluminum smelters and has no more than 4.0 metric tons of CO₂e emissions for every ton of metal produced, including both direct and indirect emissions (scope 1 and scope 2) across the entire production chain, including bauxite mining and alumina refining. This carbon footprint is approximately three and a half times better than the global average and is a key enabler to allow downstream manufacturers to reduce their emissions profile.

Both Alcoa and Speira are members of the Aluminum Stewardship Initiative, a robust system that validates responsible production practices.

More than 80 percent of Alcoa's smelting operations are powered by renewable energy, and its alumina refining system has the world's lowest average carbon dioxide intensity. In addition, the Company has a technology roadmap that has the potential to further decarbonize its operations and support its net zero 2050 ambition.

About Alcoa Corporation

Alcoa (NYSE: AA) is a global industry leader in bauxite, alumina and aluminum products with a vision to reinvent the aluminum industry for a sustainable future. With a values-based approach that encompasses integrity, operating excellence, care for people and courageous leadership, 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 efficiency, safety, sustainability and stronger communities wherever we operate.

About Speira

Speira is a global aluminum rolling and recycling company and consists of seven manufacturing facilities, as well as one R&D center. It has locations in Germany and Norway, including its Joint Venture Alunorf with the world´s largest aluminum rolling mill, and Grevenbroich, the world´s largest rolled aluminum finishing mill, as well as several international sales offices. Speira employs around 5,000 people mainly in Germany and Norway. It is proud to serve some of the best-known global companies in the automotive, packaging, printing, engineering, building and construction industry.

Dissemination of Company Information

Alcoa intends to make future announcements regarding company developments and financial performance through its website, www.alcoa.com, as well as through press releases, filings with the Securities and Exchange Commission, conference calls and webcasts.

Forward-Looking Statements

This press release 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 "aim," "ambition," "anticipates," "believes," "could," "develop," "endeavors," "estimates," "expects," "forecasts," "goal," "intends," "may," "outlook," "plans," "potential," "projects," "reach," "seeks," "sees," "should," "targets," "will," "working," "would," or other words of similar meaning. All statements by Alcoa Corp. that reflect expectations, assumptions or projections about the future, other than statements of historical fact, are forward-looking statements. Forward-looking statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties, and changes in circumstances that are difficult to predict. Although Alcoa Corp. 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. Additional information concerning factors that could cause actual results to differ materially from those projected in the forward-looking statements is contained in Alcoa Corp.'s filings with the Securities and Exchange Commission. Alcoa Corp. 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.

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