AG真人官方

Alcoa receives $1.35 billion of proceeds in Ma鈥檃den shares and cash

PITTSBURGH--(BUSINESS WIRE)-- Alcoa Corporation (NYSE: AA; ASX: AAI) (鈥淎lcoa鈥� or the 鈥淐ompany鈥�) today announced the successful closing of the Company鈥檚 sale of its full ownership interest of 25.1% in the Ma鈥檃den Joint Venture (the 鈥淛oint Venture鈥�) to Saudi Arabian Mining Company (鈥淢a鈥檃den鈥�), pursuant to a binding share purchase and subscription agreement (the 鈥淎greement鈥�). Alcoa received proceeds of approximately 86 million shares of Ma鈥檃den (valued at approximately $1.2 billion) and $150 million in cash (to be used primarily for related taxes and transaction costs) and expects to record a gain of approximately $780 million in other income in the third quarter of 2025. Consistent with prior transactions, Alcoa reflects gains or losses from non-core asset sales as special items.

Pursuant to the terms of the Agreement, Alcoa will hold its Ma鈥檃den shares for a minimum of three years and can sell one-third of the shares after each of the third, fourth and fifth anniversaries of closing of the transaction (the 鈥渉olding period鈥�). During the holding period, Alcoa is permitted, under certain conditions, to hedge and borrow against its Ma鈥檃den shares. Under certain circumstances, such minimum holding period can be reduced. Following the transaction, Alcoa owns approximately 2% of Ma鈥檃den鈥檚 current shares outstanding.

鈥淲hile today marks the end of the Joint Venture, the closing of this transaction demonstrates the initial value to our shareholders and enables visibility within Alcoa鈥檚 financials until we monetize in the future,鈥� said William F. Oplinger, Alcoa鈥檚 President and CEO. 鈥淚 thank Ma鈥檃den鈥檚 leadership and the Kingdom of Saudi Arabia for their partnership over the last 16 years, and we look forward to continued engagement as Ma鈥檃den shareholders.鈥�

The Joint Venture was created in 2009 as a fully integrated mining complex in the Kingdom of Saudi Arabia and today comprises two entities: the Ma鈥檃den Bauxite and Alumina Company (鈥淢BAC鈥�; the bauxite mine and alumina refinery) and the Ma鈥檃den Aluminum Company (鈥淢AC鈥�; the aluminum smelter and casthouse). Alcoa previously owned 25.1% of the Joint Venture and Ma鈥檃den owned 74.9%.

In connection with the transaction, 鈥婥iti acted as Alcoa鈥檚 exclusive financial advisor, and White & Case LLP acted as its legal counsel.

About Alcoa

Alcoa (NYSE: AA, ASX: AAI) 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 AG真人官方 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 improved safety, sustainability, efficiency, and stronger communities wherever we operate.

Dissemination of Company Information

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

Cautionary Statement on Forward-Looking Statements

This press release contains statements that relate to future events and expectations about the transaction in which Alcoa sold its interest in the Ma鈥檃den joint venture, including but not limited to Alcoa鈥檚 expectations relating to financial impact, 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 鈥渁im,鈥� 鈥渁mbition,鈥� 鈥渁nticipates,鈥� 鈥渂elieves,鈥� 鈥渃ould,鈥� 鈥渄evelop,鈥� 鈥渆ndeavors,鈥� 鈥渆stimates,鈥� 鈥渆xpects,鈥� 鈥渇orecasts,鈥� 鈥済oal,鈥� 鈥渋ntends,鈥� 鈥渕ay,鈥� 鈥渙utlook,鈥� 鈥減lans,鈥� 鈥減otential,鈥� 鈥減rojects,鈥� 鈥渞each,鈥� 鈥渟eeks,鈥� 鈥渟ees,鈥� 鈥渟hould,鈥� 鈥渢argets,鈥� 鈥渨ill,鈥� 鈥渨orking,鈥� 鈥渨ould,鈥� or other words of similar meaning. All statements by Alcoa 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 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鈥檚 filings with the Securities and Exchange Commission. Alcoa 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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Source: Alcoa