Alcoa and China Partners in Growth Bernt Reitan

Alcoa and China: Partners in Growth Bernt Reitan Executive Vice President, Alcoa

Alcoa at a glance Leading aluminum products company § Primary aluminum and alumina § Flat-rolled aluminum and hard-alloy extrusions Active in all major segments of the industry: § Technology ▪ Smelting § Mining ▪ Fabricating § Refining ▪ Recycling Products serving the aerospace, automotive, commercial transportation, packaging, building and construction, and industrial markets. 2

Financial performance - 2008 Total Revenue: $26. 9 Billion 2008 3 rd Party Revenue by Segment 2008 ATOI by Segment Engineered Solutions Flat Rolled Packaging & Consumer Alumina Flat Rolled Engineered Solutions Primary Metals Alumina Packaging & Consumer 3

Global organization 34 Countries 87, 000 Employees 4

Alcoa Primary Operations Key Facts (2008) • 25 Smelters on 5 continents • 9 refineries on 4 continents • 4. 0 mmt Aluminum Production • 15. 3 mmt Alumina production – 23% of world output • $10. 9 billion in 3 rd Party Revenue • $17. 6 billion total Revenue including intercompany sales to downstream operations 5

Sustainable aluminum production § Sustainable energy production § Energy conservation § Emissions management § Sustainable repowering § Sustainable capacity growth 6

Leader in sustainable energy § More than a century of hydropower expertise Ø new technology improving yield of existing projects – LIHI certification § § Cogeneration at Wagerup and Pinjarra Sustainable biofuels for plant equipment Green Power – renewable energy contracts Geothermal Calderwood dam, Tennessee Ø Under consideration for proposed second smelter in Iceland Pinjarra cogeneration plant 7

Sustainable growth in Iceland Alcoa Fjardaal § 344, 000 mtpy capacity § Compliant with Iceland’s stringent environmental requirements North Iceland § Possible second smelter site in Bakki § Phase 2 feasibility study § Geothermal power under consideration First shipment of alumina, Alcoa Fjardaal, Iceland – 28 March 2007 8

Sustainable growth: Greenland § MOU signed May 2007 § 340, 000 mtpy greenfield smelter § Hydropower system § Infrastructure § On line 2014 9

A values-driven company § § § § Integrity Environment, Health and Safety Customer Excellence People Profitability Accountability 10

Committed to sustainability 2020 Strategic framework 11

Land stewardship § Reclamation § Conservation/biodiversity § Management Award-winning forestoration, Australia Alcoa-sponsored environmental parks, Brazil Great Smoky Mountains conservation agreement, USA 12

Safety leader § Alcoa facilities worldwide are 10 times safer than U. S average § 76% of Alcoa facilities had zero lost workdays in 2008 13

Community support Commitment to Communities - 2007 § Alcoa and Alcoa Foundation investments totaled $49 million § More than 634, 000 volunteer work hours § $8 million for climate change projects § $1 million for recycling projects Qinglong Alcoa Hope School Grand Opening -- 2005 14

Energy conservation: recycling mt Growth in recycled content -- 2005 -2007 Currently Alcoa uses nearly 900, 000 mt/year of recycled aluminum – nearly 25% of primary production Scrap recycling center, Hungary 15

Recognition Sustainability § Most Sustainable Corporation / World Economic Forum in Davos § Dow Jones Sustainability Index Climate Change § Founding Reporter of the Climate Registry § Top Green Company – Business. Week and the Climate Group § Low Carbon Pioneer – CNBC European Business § Best in Class – Carbon Disclosure Project § Leader in climate change and governance – CERES § Carbon Disclosure Leadership Index 2008 16

Alcoa: a Partner in China’s Growth

Alcoa’s History in China 1980 s CNNC* Technology relationship established 1993 Beijing Established representative office 1994 Tianjin Closures business 1995 Shanghai Aluminum foil Joint Venture 1996 CNNC* 30 -year alumina supply contract Kunming Aluminum foil Joint Venture 1997 Qinhuangdao Formed original Bohai cold mill and extrusion Joint Venture 1999 Qingdao Alumina chemicals plant 2001 Chinalco Support of Chinalco reform program – purchased 8% interest in successful Chalco IPO 2002 Pingguo Submitted JFS for Joint Venture to NDRC for approval 2003 Shanghai Expanded Foil Joint Venture 2004 Bohai Submitted pre-feasibility study for hot mill Chalco Further investment to maintain 8% stake Guangxi Investigated direct investment in power assets Hangzhou Formed closures business Shanghai Acquired remaining 40% of Foil Joint Venture and established warehousing facility Bohai NDRC approval granted for Joint Venture restructuring Qinghuangdao Inaugurated Bohai Joint Venture with China International Trust & Investment (CITIC) 2006 Kunshan Acquired 70% stake in brazing sheet Joint Venture 2007 Bohai Construction of new hotmill on-track for 2009 2008 Chinaclo Investment partner with Chinalco in Rio Tinto 2005 Yutong Bus * Now Sino Metals Strategic partnership with Yutong Bus Co. Our pace is Accelerating 18

Overview ALCOA’S ASSETS AND LOCATIONS IN CHINA 13 locations 1926 employees Headquarters - Beijing Sheet and Foil* - Bohai Shared Service - Bohai Fasteners - Suzhou Guanlu Fasteners - Shanghai Foil – Shanghai* Shared Service - Shanghai Corporate and Offices Flat Rolled Products Locations Other Alcoa Locations Foil – Kunming* Not operated directly by Alcoa Brazing Sheet - Kunshan AEES – Shanghai* Sales - Shanghai Sourcing - Shanghai Sales - Guangzhou Hainan Sales – Hong Kong * Foil and AEES operations are scheduled for divestiture in 2009 19

Investing in China’s growth § $700 million invested since 1993 § $1 billion planned by 2010 § Alcoa will be one of China’s top 10 investors § Member of China Association of Enterprises with Foreign Investment (CAEFI) 20

Major Alcoa China Facilities Alcoa Bohai Aluminum Co. Alcoa Kunshan AFS Suzhou Location Qinhuangdao, Hebei Kunshan, Jiangsu Suzhou, Jiangsu JV commenced Jun. 2000 / October 2005 Apr. 2006 Alcoa equity 73% 70% 100% Key Products FRP: incl. finstock, beer wrap, cable warp, household foil, standard sheet, etc. Brazing sheet for HVAC, common-alloy sheet Aerospace fastening systems, fasteners for commercial transportation, rail & car applications Recent activity: • Construction of the hot mill is underway • Key equipments include one 1+3 2250 mm HM, one 2200 mm VAI CM, and three 2200 VAI FMs N/A 21

Living Alcoa’s Values in China § Member of China Business Council for Sustainable Development (CBSD) § More than $2. 2 million in community investments since 2003 § Hundreds of volunteers in Alcoa’s annual Month of Service Ø Education Ø Conservation Ø Community Service Ø Health § Alain Belda honored by Asia Society for Environmental Leadership Bohai rolling mill 22

Alcoa Partnerships for Sustainability in China Zhengzhou Yutong Bus • World-class structural design, materials and manufacturing technologies • A new generation of energy-efficient, environmentally-friendly buses for China’s growing commuting public. • Up to 46% lighter bus body Beijing Public Transport Holdings Ltd. • Alcoa Wheels used since 2007. • 2. 5% fuel savings • 18. 1% longer tire life • Alcoa wheels chosen for fleet of 50 electric buses for 2008 Beijing Olympic Games 23

Partnerships for progress Beijing International Airport Terminal 3 Alcoa Architectural Products provided world class preprinted aluminum Reynolux coil for about 300, 000 square meters National Gymnasium – 2008 Olympic Games More than 29, 000 square meters of Alcoa Architectural Products’ Reynolux coil coated aluminum sheet 24

Alcoa: a Dependable Partner for a Sustainable Future • Nearly three decades in China • World leader in aluminum technology and sustainability • Engaged with our communities throughout China • Contributing to China’s growth • Dedicated to China’s Future 500, 000 safe hours at Bohai. -- January 2007 25

Alcoa can’t wait for tomorrow!