A global industry leader in bauxite, alumina and aluminum products

Alcoa Corporation is a values-based company. We Act with Integrity, Operate with Excellence, Care for People and Lead with Courage. We do the right thing, strive to do our best work every day, and place great emphasis on the well-being of our employees, protecting the environment and partnering with the communities where we operate.

Alcoa is an industry leader in bauxite, alumina and aluminum products.

Bauxite: Our assets include a premier, low-cost, bauxite mining portfolio that is one of the world’s largest with ownership in seven active mines globally with a first-quartile cost position.

Alumina: Our global alumina portfolio is the largest outside of China and the largest third-party supplier of alumina with the globe’s lowest carbon footprint. Our refining system includes assets in Western Australia, which represent the world’s largest integrated source of alumina supply.

Aluminum: We continue to optimize our portfolio of assets, with plans underway to move to a 1st quartile cost position and become the lowest CO2e emitter in the industry. With our global network of casthouses, we produce primary aluminum to precise customer specifications. Within our aluminum segment, we have energy assets with the operational flexibility to support metal production and capture revenue through participation in third-party markets.

The expertise within each segment, including our global Centers of Excellence, supports continuous improvement, best practice sharing and optimized products and process knowledge.

As a well-established world leader in mining and metals, Alcoa has scale, global reach and proximity to major markets. We operate or have an ownership interest in locations on six continents, situated in Australia, Brazil, Canada, Iceland, Norway, Spain, the United States, Guinea and Saudi Arabia. Alcoa’s broad product portfolio and extensive technical expertise position us as the supplier of choice across the entire aluminum value chain.

Our management and Board of Directors have substantial leadership, management and industrial experience. Please visit our Leadership page to learn more about Alcoa Corporation’s Board of Directors, Executive Team, and Officers.

Across our company, we are focused on three strategic priorities: Reduce Complexity, Drive Returns, and Advance Sustainably.

• Reduce complexity: A portfolio and operating model that is low cost, competitive and resilient across all market cycles
• Drive returns: Improve commercial capabilities, invest in targeted growth opportunities, increase margins across the value chain
• Advance sustainably: Continue to strengthen the balance sheet, transform the portfolio and leverage our industry-leading environmental and social standards for a sustainable future

We believe the long-term outlook for aluminum demand remains strong. With diversified demand across multiple sectors and a wide range of products that will require more aluminum, we expect an increased focus on materials that are sustainably produced. Alcoa has always been a sustainability leader, and we are well positioned for a market that is demanding responsibly sourced materials, helping our customers meet their own sustainability targets.

As a company that is active in all aspects of the upstream aluminum value chain, we have a distinct advantage to deliver sustainably produced products. In bauxite, we lead with sustainable practices that have allowed us to mine in ecosystems such as the Amazon rainforest and the jarrah forest in Western Australia. In alumina, we have the lowest carbon intensity refinery system of any company in the world.

In aluminum, more than 75% of our smelting portfolio is already powered by renewable energy, and that percentage is expected to increase as a result of our multi-year portfolio review, announced in October of 2019.

We are also leading in the innovation of next-generation smelting technology through our ELYSIS^TM joint venture, which is working to commercialize a process that produces aluminum without any direct carbon dioxide emissions, emitting oxygen instead.

We have set specific objectives to further reduce direct and indirect GHG emissions across our global operations from aluminum smelting and alumina refining operations from 2015 baselines by 30% by 2025 and 50% by 2030.

Through our low-carbon supply chain leadership, we are able to deliver greener product solutions to customers across the world in the form of our Sustana^TM product line.

Please visit both our Sustainability and Alcoa Foundation pages to learn more about our commitment to creating sustainable value.

Our history began with the world-changing discovery of aluminum, and we’ve continued to advance our industry with technology, innovation and process knowledge that has strengthened each of our segments for greater efficiency, profitability and value-creation.

We are delivering on a comprehensive strategy and to improve our position with a cycle-proof set of assets that are well positioned to succeed economically, environmentally and socially.

In bauxite mining, we are on the forefront of innovative practices on forest management and rehabilitation, including industry-leading research and best practices.

For nearly 50 years, our Australia-based Center of Excellence has been developing innovative equipment and processes for cleaner, more efficient alumina production. Technology developed by this group of scientific, engineering, and chemistry staff has steadily increased our system-wide capacity by the equivalent of a new refinery without greenfield development.

Our Aluminum Center of Excellence provides innovation in breakthrough technology and automation to maintain and improve operating performance and product quality. Based in Canada, this Center is a hub for training, developing, transferring and standardizing best practices.

We have a well-defined capital allocation framework. We first target $1 billion in cash on the balance sheet and fund capital expenditures to sustain and improve our existing assets. After that, we maximize stockholder value through using our excess cash in four possible ways (order does not indicate priority): 1) achieve our adjusted net debt target (ranging between $2.0 billion to $2.5 billion by 2024), 2) return cash to stockholders (we have an existing share repurchase authorization with $150 million available), 3) continue the portfolio transformation, and 4) invest in value creating growth projects.