Alcoa and China: Partners in Growth

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

2. 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.

3. Financial performance - 2008 Total Revenue: $26.9 Billion 2008 ATOI by Segment 2008 3rd Party Revenue by Segment Packaging & Consumer Engineered Solutions Flat Rolled Alumina Flat Rolled Engineered Solutions Primary Metals Primary Metals Packaging & Consumer Alumina

4. 34 Countries 87,000 Employees Global organization

5. 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 3rd Party Revenue • $17.6 billion total Revenue including intercompany sales to downstream operations Alcoa Primary Operations

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

7. Leader in sustainable energy • More than a century of hydropower expertise • 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 • Under consideration for proposed second smelter in Iceland Calderwood dam, Tennessee Pinjarra cogeneration plant

8. 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

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

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

11. Committed to sustainability 2020 Strategic framework

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

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

14. 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

15. 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

16. 2008 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 – BusinessWeek 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

17. Alcoa: a Partner in China’s Growth

18. Alcoa’s History in China 1980s 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 2005 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 Yutong Bus Strategic partnership with Yutong Bus Co. Our pace is Accelerating * Now Sino Metals

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

20. 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)

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

22. 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 • Education • Conservation • Community Service • Health • Alain Belda honored by Asia Society for Environmental Leadership Bohai rolling mill

23. Alcoa Partnerships for Sustainability in China • 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 • 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

24. 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

25. 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

26. Alcoa can’t wait for tomorrow!