Alcoa Corporation Announces Intention to Redeem in Full $500 Million of 7.00% Notes due in 2026

Alcoa Corporation (NYSE: AA) today announced that its wholly-owned subsidiary, Alcoa Nederland Holding B.V., has issued a notice to redeem all $500 million aggregate principal amount of its outstanding 7.00% notes due in 2026.

The notes will be redeemed on September 30, 2021. The redemption price of the notes will be equal to 103.500% of the principal amount of the notes, plus accrued and unpaid interest to but not including the redemption date.

The redemption will be funded using cash on hand. Alcoa Corporation's cash balance at June 30, 2021 was $1.65 billion.

About Alcoa

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

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Forward-Looking Statements

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