Alcoa Releases 2021 Sustainability Report

Alcoa Corp. (NYSE: AA) has released its 2021 Sustainability Report, which provides a detailed overview of the Company's progress against key environmental, social and governance (ESG) objectives.

"Now, more than ever, our world needs reinvention, and we made significant progress in 2021 against our vision to reinvent the aluminum industry for a sustainable future," said Roy Harvey, Alcoa President and CEO. "This year's sustainability report outlines how we are leveraging our processes, products, and people to help usher the aluminum industry into the low-carbon future and work with stakeholders across the value chain to build a better world."

The report is available on the sustainability section of Alcoa's web site and has been prepared in accordance with Global Reporting Initiative (GRI) Core Standard. The report also maps Alcoa´s progress to indicators defined by the Sustainability Accounting Standards Board (SASB), key United Nations Sustainable Development Goals, and the International Council for Mining and Metals' 10 Principles.

This report, titled "Reinventing for a sustainable future," includes an overview of the company's ambition to achieve net zero greenhouse gas (GHG) emissions across global operations by 2050, for Scope 1 and Scope 2 emissions, as well as its new technology roadmap that has the potential to decarbonize and transform the aluminum value chain.

Some of the notable achievements highlighted in the 2021 report:

• Alcoa made strides in improving its environmental footprint, including achieving a 9.1% decrease in carbon dioxide equivalent emissions and a 15.4% decrease in landfilled waste.
• By the end of 2021, 81% of electricity consumed by Alcoa's aluminum smelters was from renewable sources.
• With the introduction of Alcoa's technology roadmap - which includes the ELYSIS™ zero-carbon smelting JV, the Refinery of the Future initiative, and the Company's ASTRAEA™ recycling process - Alcoa continued to accelerate the development of breakthrough innovations that have the potential to decarbonize significant portions of the aluminum value chain.
• Alcoa updated its Biodiversity Policy to reflect its commitment to contribute toward halting deforestation globally. Through the Alcoa Foundation, Alcoa also partnered with the Wildlife Conservation Society, The University of Queensland, and The Biodiversity Consultancy to develop tools that can help reduce the drivers of biodiversity loss from industry.
• Alcoa continued to enable the growing low-carbon aluminum market through its Sustana™ brand, the industry's most comprehensive portfolio of low-carbon products, including through a deal to supply a mix of low-carbon EcoLum™ metal and metal from the ELYSIS joint venture for the wheels on Audi's e-tron GT electric sportscar.
• Alcoa also made progress in working to investigate new products that can help support the low-carbon transition, including a joint development project to investigate the production of high-purity alumina (HPA), which is used in LED lighting and lithium-ion batteries.
• Alcoa gave back to the communities where we live and work, including volunteering thousands of hours and $7.2 million in community investments through Alcoa Foundation. Alcoa continued to grow global inclusion groups, and additionally launched an Everyone Matters self-identification initiative to build a more complete picture of Alcoa's global workforce.

Learn more about Alcoa's sustainability strategy and social, economic, and environmental progress at www.alcoa.com/sustainability.

About Alcoa Corporation

Alcoa (NYSE: AA) is a global industry leader in bauxite, alumina and aluminum products with a vision to reinvent the aluminum industry for a sustainable future. With a values-based approach that encompasses integrity, operating excellence, care for people and courageous leadership, our purpose is to Turn Raw Potential into Real Progress. Since developing the process that made aluminum an affordable and vital part of modern life, our talented Alcoans have developed breakthrough innovations and best practices that have led to greater efficiency, safety, sustainability and stronger communities wherever we operate.

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Forward-Looking Statements

This press release contains statements that relate to future events and expectations, and as such constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include those containing such words as "aim," "ambition," "anticipates," "believes," "could," "develop," "endeavors," "estimates," "expects," "forecasts," "goal," "intends," "may," "outlook," "plans," "potential," "projects," "reach," "seeks," "sees," "should," "targets," "will," "working," "would," or other words of similar meaning. All statements by Alcoa Corp. that reflect expectations, assumptions or projections about the future, other than statements of historical fact, are forward-looking statements. Forward-looking statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties, and changes in circumstances that are difficult to predict. Although Alcoa Corp. believes that the expectations reflected in any forward-looking statements are based on reasonable assumptions, it can give no assurance that these expectations will be attained, and it is possible that actual results may differ materially from those indicated by these forward-looking statements due to a variety of risks and uncertainties. Additional information concerning factors that could cause actual results to differ materially from those projected in the forward-looking statements is contained in Alcoa Corp.'s filings with the Securities and Exchange Commission. Alcoa Corp. disclaims any obligation to update publicly any forward-looking statements, whether in response to new information, future events or otherwise, except as required by applicable law.

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