Alcoa and Alcoa Foundation Annual 2011 Giving Totals $38 Million

Alcoa (NYSE:AA) and Alcoa Foundation announced combined community giving
of $38 million in 2011, compared with $36.8 million in 2010. The annual
giving results were released today in recognition of International
Corporate Philanthropy Day, which celebrates business-community
partnerships around the world.

'International Corporate Philanthropy Day is an opportunity to reaffirm
our commitment to a model of "shared value creation,′ where together
with governments, businesses, civic groups and our employees, we engage
in work that makes communities stronger for us all,? said Paula Davis,
President, Alcoa Foundation.

Focus on STEM Education and Workforce Development

As the world evolves, so do the skills needed to stay competitive. To
prepare communities for these rapid changes, Alcoa Foundation is
focusing on programs that increase the number of students enrolled in
STEM education and initiatives that train individuals for careers in
engineering and manufacturing.

The recipients of Alcoa Foundation′s $1.1 million investment in STEM and
workforce development 2012 programs include:

• Academy of Model Aeronautics: Providing STEM-based education
  'toolkits? to elementary and middle school teachers in Australia,
  Canada, France, United Kingdom and the U.S.
  
• American Corporate Partners: Helping veterans transition from
  the armed services to the civilian workforce through mentoring, career
  counseling and networking with professionals.
  
• Engineers Without Borders International: Providing engineers
  and engineering students with opportunities to apply their knowledge
  on social impact projects with local nonprofit organizations in
  Australia, Canada and the U.S.
  
• FIRST ^? Tech Challenge:
  Supporting a robotics competition in Australia, Canada, China, Europe
  and the U.S. for teams of high school students responsible for
  designing, building and programming robots.
  
• Manufacturing Institute: Supporting certification programs
  developed with employers and select U.S. community colleges to provide
  students and workers with postsecondary credentials that add real
  value in the workplace; and a virtual global symposium to discuss best
  practices in curriculum and corporate partnerships in Australia,
  Canada, Germany, Switzerland and the U.S.
  
• Metals Service Center Institute: Providing professors and
  teachers with access to an innovative program to teach the next
  generation about light weight metals, such as aluminum.
  

2011 Contribution Highlights

In 2011, Alcoa Inc. contributed $17 million to support projects and
partnerships with non-governmental and nonprofit organizations around
the world. That same year, $21 million in Alcoa Foundation funding was
directed towards improving the environment, educating tomorrow's leaders
and enhancing the communities where Alcoa operates around the world.

• 
  $1.5 million for Girl Scouts Forever Green, the global project
  for the 100^th Year Anniversary that engages Girl Scouts and
  Girl Guides in environmental projects.
  
• 
  $410,000 to Keep America Beautiful to sponsor America Recycles Day,
  provide waste management training for the College and University
  Recycling Coalition and promote recycling through RecycleMania, a
  competition between more than 600 colleges and universities in the
  U.S. and Canada.
  
• 
  $301,000 to The Nature Conservancy to support a reforestation project
  in the Atlantic Forest in Paraná, Brazil and advance Alcoa′s
  commitment to plant 10 million trees by 2020.
  

2011 Record Employee Volunteerism

Alcoa achieved record employee-community engagement in 2011, with 56
percent of employees participating in the company′s annual Month of
Service. According to Boston College Center for Corporate Citizenship,
average engagement for a corporation is 17-31 percent. In total, Alcoa′s
global workforce volunteered more than 900,000 hours in 2011, averaging
more than 16 hours per employee. That′s the equivalent of 475 people
working full-time for a year. 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 Davis.

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.

Alcoa Inc.

Libby Archell, 212-836-2719

or

Alcoa Foundation

Malika
Harrison, 212-836-2610