Alcoa Corporation · NYSE:AA

Alcoa — Merger or Acquisition (June 2016)

16 slides from Alcoa's merger presentation, Jun 29, 2016

  1. Slide 1: Update on Alcoa's Separation: Filing of Initial Form 10

    Update on Alcoa’s Separation: Filing of Initial Form 10 June 29, 2016 1

  2. Slide 2: Important Information

    Important Information Forward–Looking Statements This presentation 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

  3. Slide 3: Topics for Today's Discussion

    Topics for Today’s Discussion What We Will Cover Today and What We Will Cover in the 2Q 2016 Earnings Call What we will cover today What we will cover in the 2Q earnings call  Timeline for the separation  Quarterly results  An overview of the initial Form 10 filed  3Q16 outlook  Overview of lon

  4. Slide 4: Current Form 10 Focuses on Carve-Out Financials; Pro-Forma Details to Follow

    Current Form 10 Focuses on Carve-Out Financials; Pro-Forma Details to Follow Form 10 Content: Current and Future Financial information included in the current filing What we will include in subsequent amendments  Carve-out financials for Alcoa Corporation  Additional pro-forma adjustments ‒ May no

  5. Slide 5: Klaus Kleinfeld

    Klaus Kleinfeld Chairman and Chief Executive Officer June 29, 2016 5

  6. Slide 6: Executing Separation – Achieving a Key Milestone with Initial Form 10 Filing

    Executing Separation – Achieving a Key Milestone with Initial Form 10 Filing Separation Approximate Timeline and Path to Completion 4Q 2015 1st Half 2016 2nd Half 2016 Form 10 Effectiveness and Final  Launched Office the Separation Program  Launched New Value-Add Name and Brand and Refreshed Alcoa

  7. Slide 7: Executing Separation – Form 10 Highlights

    Executing Separation – Form 10 Highlights Alcoa Corporation (New Co) will be listed on the NYSE through a tax-free spinoff to shareholders Alcoa Inc.’s debt remains with Arconic1 (Remain Co); Alcoa Corp. to raise approx. $1 billion Estimated Pro Forma Pension/OPEB obligation2: Alcoa Corporation $2.6

  8. Slide 8: Arconic: Premier Provider of Innovative Solutions to Growing Markets

    Arconic: Premier Provider of Innovative Solutions to Growing Markets Arconic Business Operations and Key Attributes  Premier supplier of high-performance advanced multi-material products and solutions  Positioned to strengthen in growth markets with significant customer synergies e.g., aerospace a

  9. Slide 9: Alcoa Corporation: Cost Competitive Industry Leader

    Alcoa Corporation: Cost Competitive Industry Leader Alcoa Corporation Business Operations and Key Attributes  Robust projected aluminum demand growth of 5% in 2016, doubling between 2010 and 2020; 3rd Party bauxite demand projected to double by 2025  Attractive Portfolio:  World’s largest, low co

  10. Slide 10: Alcoa Corporation to be Created as a New Company

    Alcoa Corporation to be Created as a New Company Separation Process Overview “Remain Co.” Guiding Principles  Will trade on the New York Stock  Create optimal capital structures for Exchange under the ticker “ARNC” both entities GRP EPS TCS Aerospace Brazing, Micromill™ Power and Fastening Forging

  11. Slide 11: Intended Capital Structure Creates Strong Balance Sheets for Both Co.'s

    Intended Capital Structure Creates Strong Balance Sheets for Both Co.’s Intended Capital Structure Overview Intended capital structure Arconic (Remain Co.)  Alcoa Inc.’s debt remains with Arconic1 Guiding principles for new ‒ Arconic uses cash received from Alcoa capital structures Corporation to p

  12. Slide 12: Retained Interest: Both Companies Positioned for Success

    Retained Interest: Both Companies Positioned for Success 80/20 Structure Description In light of recent volatile commodity markets and ...Arconic to retain up to 19.9% of Alcoa Corporation conditions in the high-yield debt market... All-in Aluminum (LME Cash + Midwest Premium) ($/MT) Alcoa Corporati

  13. Slide 13: Liabilities Allocated to Each Entity According to Several Guiding Principles

    Liabilities Allocated to Each Entity According to Several Guiding Principles Liability Allocation Overview Liabilities “Remain Co.” Guiding Principles Legal and Environmental Legal Allocated generally to originating business Environmental e.g., Grasse River to Arconic and Fusina to Alcoa Corporation

  14. Slide 14: Executing Separation – On Course for Second Half of 2016

    Executing Separation – On Course for Second Half of 2016 Separation Approximate Timeline and Path to Completion 4Q 2015 1st Half 2016 2nd Half 2016 Form 10 Effectiveness and Final  Launched Office the Separation Program  Launched New Value-Add Name and Brand and Refreshed Alcoa Brand Board Approva

  15. Slide 15: Get Ready for The Launch of Two Strong, New Companies

    Get Ready for The Launch of Two Strong, New Companies Arconic and Alcoa Corporation Branding 15

  16. Slide 16: Advancing each generation. Alcoa

    Advancing each generation. 6] ALCOA 16

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