Alcoa Joins A Billion + Change Campaign Mobilizing Companies to Increase Skills-Based Volunteerism

Alcoa (NYSE:AA) has joined A
Billion + Change, a national campaign to mobilize billions of
dollars in skills-based and pro bono volunteer services to help build
the capacity of nonprofit organizations to meet community needs
effectively. Alcoa committed to having 10 percent, or 100,000 of its
employee volunteer hours, be skills-based volunteering.

In 2011, Alcoa′s global workforce volunteered more than 900,000 hours,
averaging more than 16 hours per employee. For 2012, Alcoa has a goal of
reaching one million volunteer hours.

'Community service has always been a core value at Alcoa, and so we look
for ways to encourage and enable our people to get more involved in the
causes that are important to them,? said Paula Davis, President, Alcoa
Foundation. 'Alcoa employees are experts in everything from engineering
and construction to operations and logistics to finance and human
resources. Through skills-based volunteerism, they "donate′ their talent
and also gain valuable development and leadership experience that
transfers to the workplace. We are proud to sign on to A Billion +
Change and excited to track our progress towards our commitment.?

Alcoa has several volunteer programs that tap into the skills of its
61,000 employees. The Foundation is enlisting employees to enhance its
efforts around Science, Technology, Engineering and Math (STEM)
education and workforce development programs that reach high schools,
community colleges and four-year institutions. Through its signature
Month of Service program, Alcoans teach students about energy efficiency
and aeronautics and provide interviewing techniques. In addition, a new
nonprofit board placement program is being launched to place employees
on the boards of nonprofits that align with Alcoa Foundation′s focus
areas of environment and education.

'We have been overwhelmed by the initial enthusiasm for A Billion +
Change.? said Michelle Nunn, CEO of the Points of Light Institute, which
manages and houses A Billion + Change. 'Volunteers nationwide served 8.1
billion hours in 2010, yet only around 16 percent of all companies make
it a regular practice to offer their employees skills-based volunteer
opportunities. Skills-based volunteerism helps companies build the human
capital of their workforce and invest in their communities.?

Companies that pledge to create or expand a skills-based volunteer
program recognize that skills-based volunteerism is an emerging best
practice model for corporate citizenship. In addition to providing
much-needed skills and expertise to nonprofits, research shows that pro
bono and skills-based volunteerism helps businesses enhance their
recruitment and retention rates, and that it improves employee morale,
loyalty and productivity.

About Alcoa Foundation

Alcoa Foundation is one of the largest corporate foundations in the
U.S., with assets of approximately US$446 million. Founded more than 50
years ago, Alcoa Foundation has invested more than US$550 million since
1952. In 2011, Alcoa Foundation contributed more than US$20 million to
nonprofit organizations throughout the world, building innovative
partnerships, engaging its people to improve the environment and
educating tomorrow′s leaders. The work of Alcoa Foundation is further
enhanced by Alcoa′s thousands of employee volunteers who share their
energy, passion and purpose to make a difference in the communities
where Alcoa operates. Through the company′s signature Month of Service
program, in 2011, a record 56 percent of Alcoa employees took part in
more than 1,200 events across 24 countries, reaching 81,000 children,
serving 9,000 meals, planting 34,000 trees and supporting 1,800
nonprofit organizations. More information can be found at www.alcoafoundation.com.

About Alcoa

Alcoa is the world′s leading producer of primary and fabricated
aluminum, as well as the world′s largest miner of bauxite and refiner of
alumina. In addition to inventing the modern-day aluminum industry,
Alcoa innovation has been behind major milestones in the aerospace,
automotive, packaging, building and construction, commercial
transportation, consumer electronics and industrial markets over the
past 120 years. Among the solutions Alcoa markets are flat-rolled
products, hard alloy extrusions, and forgings, as well as Alcoa ? wheels,
fastening systems, precision and investment castings, and building
systems in addition to its expertise in other light metals such as
titanium and nickel-based super alloys. Sustainability is an integral
part of Alcoa′s operating practices and the product design and
engineering it provides to customers. Alcoa has been a member of the Dow
Jones Sustainability Index for 10 consecutive years and approximately 75
percent of all of the aluminum ever produced since 1888 is still in
active use today. Alcoa employs approximately 61,000 people in 31
countries across the world. More information can be found at www.alcoa.com.

About A Billion + Change:

The A Billion + Change campaign was launched by the Corporation for
National and Community Service in 2008 and continues as an initiative of
the federal agency. Reinvigorated in 2011 with expanded leadership under
the honorary chairmanship of Senator Mark Warner, it is now housed and
managed by Points of Light. The initiative is powered by the support of
Deloitte LLP, HP, ?the Case Foundation and IBM with additional founding
support from State Farm, McKenna Long & Aldridge LLP and Morgan Stanley.

Alcoa Foundation

Tricia Napor, 212-836-2798

tricia.napor@alcoa.com