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June 7, 2012

Christian Jepsen to Join Alcoa as Vice President, Corporate Development

NEW YORK--Alcoa (NYSE:AA) announced today that Christian Jepsen will join Alcoa as Vice President, Corporate Development this summer. He will be responsible for developing and implementing Alcoa's portfolio growth strategies, including merger and acquisition, and divestiture activities. Jepsen will also serve on the Alcoa Executive Council, the senior leadership team that sets strategic direction for the company.

Jepsen comes to Alcoa from FLSmidth, a global engineering company headquartered in Copenhagen, Denmark, that serves the cement and minerals industries. His most recent position was Group Executive Vice President and CEO of the company's $3 billion global minerals business. During his 22 years with FLSmidth, he has served as Chief Financial Officer in several of the company's larger businesses both in Denmark and the U.S. Since 2000, he has led businesses and served in senior executive positions for FLSmidth's operations in the U.S. and globally.

Jepsen earned a bachelor's and master's degrees in business administration at Aarhus University, Denmark, and completed the Harvard Business School's Advanced Management Program in 2003 and the General Management Program at the European Center for Executive Development, CEDEP, in Fontainebleau, France, in 1995.

"With a track record of success in both corporate finance and operations in the minerals industry, he is uniquely qualified to lead our Corporate Development organization, which has an important role in Alcoa's future growth," said Alcoa Chairman and CEO Klaus Kleinfeld.

George King, Managing Director and Vice President for Corporate Development, will continue to serve in a key leadership role within the group, including overseeing major transactions on behalf of the company. He will report to Jepsen.

About Alcoa
Alcoa is the world’s leading producer of primary aluminum, fabricated aluminum and 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 ten 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.