Alcoa Releases 2020 Sustainability Report

Alcoa Corporation (NYSE: AA) has released its 2020 Sustainability Report, which provides a comprehensive overview of the Company's progress against key environmental, social and governance (ESG) objectives.

"Our latest sustainability report highlights the important work we accomplished in 2020 in the midst of one of the most challenging years for our Company and the world," said Roy Harvey, Alcoa President and CEO. "Our firmly rooted commitment to our values and our strategic priority to Advance Sustainably helped our employees, their families, and our host communities navigate the pandemic while delivering results that reflect our sustainability leadership."

The report is available on a dedicated portion of Alcoa's web site (www.alcoa.com/sustainability) and has been prepared in accordance with Global Reporting Initiative (GRI) Standards. The report's methodology also aligns with Sustainability Accounting Standards Board (SASB) Standards, the United Nations Sustainable Development Goals, and the International Council for Mining and Metals' 10 Principles.

Among highlights from the report:

• Alcoa acted quickly and comprehensively to protect its employees and communities from the impacts of the COVID-19 pandemic while ensuring the continuity of its operations, which were deemed essential. Through the Alcoa Foundation and Instituto Alcoa, more than $2.1 million in grants were made to support Alcoa communities.
• A strong Climate Change Policy includes new, long-term goals to align emission reduction targets with the "well below 2º C" decarbonization path defined in the Paris Climate Accord. Alcoa also published new policies on water stewardship and biodiversity.
• A formal social performance management system to manage and address social risk, which will be deployed throughout 2021 and 2022, places particular emphasis on improving engagement with indigenous and land-connected people. As one example, in February of 2020, Alcoa launched a Reconciliation Action Plan (RAP) in Australia, which guides proactive engagement with Aboriginal and Torres Strait Islander people.
• The Company reinforced its commitment to inclusion and diversity, forming the Alcoa Global Inclusion & Diversity Council to lead efforts to create trusting workplaces that are safe, respectful, and inclusive of all individuals and that reflect the diversity of Alcoa's communities.
• Through the Alcoa Foundation and engagement with organizations such as the International Aluminium Institute, Alcoa continued to support initiatives to preserve biodiversity, prevent climate change, and advance new ways to re-use operational byproducts such as bauxite residue.
• Alcoa continued to build on its leading Sustanatm portfolio of sustainable aluminum products with the introduction of EcoSourcetm, the industry's first low-carbon, smelter-grade alumina brand. The Company also continued to grow sales of low-carbon aluminum EcoLum^TM, a member of the Sustana product family.
• By the end of 2020, the Aluminium Stewardship Initiative (ASI) had certified 13 Alcoa operating locations to its Performance Standard and Alcoa also earned the ASI Chain of Custody Standard, enabling Alcoa to market and sell ASI-certified bauxite, alumina, and aluminum to global customers.

About Alcoa

Alcoa (NYSE: AA) is a global industry leader in bauxite, alumina and aluminum products, with a strong portfolio of value-added cast and rolled products and substantial energy assets. Alcoa is built on a foundation of strong values and operating excellence dating back 135 years to the world-changing discovery that made aluminum an affordable and vital part of modern life. Since inventing the aluminum industry, and throughout our history, our talented Alcoans have followed on with breakthrough innovations and best practices that have led to efficiency, safety, sustainability and stronger communities wherever we operate. Visit us online on www.alcoa.com, follow @Alcoa on Twitter and on Facebook at www.facebook.com/Alcoa.

Dissemination of Company Information

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