Alcoa Corporation Reports Fourth Quarter and Full Year 2022 Results

The Company also worked to mitigate challenging market conditions throughout the year that included high
costs for raw materials and energy and lower sequential pricing in the Alumina and Aluminum segments in the
fourth quarter.

We saw
significant variance on product pricing between the first and second halves of 2022.

The Company’s total third-party revenue increased 2 percent to $12.5 billion, driven primarily by
higher aluminum and alumina prices, and higher premiums for value add products, partially offset by
decreased shipments in the Alumina and Aluminum segments.