Alcoa Corp

Alcoa Corporation announced a definitive agreement to acquire South32 Limited’s interests in bauxite mine, alumina refinery, and aluminum smelter operations for an upfront consideration of $4.1 billion. The deal includes $3.1 billion in cash and approximately $1.0 billion in Alcoa common stock, plus a contingent value right of up to $750 million. This acquisition is expected to generate approximately $900 million in net present value synergies and be immediately accretive to Alcoa's earnings per share and free cash flow, strengthening its position as a leading upstream aluminum company.

Alcoa Corporation held its 2026 Annual Meeting of Stockholders, where shareholders approved the Alcoa Corporation Stock and Incentive Compensation Plan (as Amended and Restated). This plan increases the number of shares authorized for issuance from 30,000,000 to 38,000,000 and extends the plan term to May 6, 2036. Additionally, stockholders elected all 11 director nominees, ratified PricewaterhouseCoopers LLP as the independent auditor for 2026, and approved the 2025 named executive officer compensation on an advisory basis.

Alcoa Corporation amended its Revolving Credit Agreement, extending the maturity date of the $1.25 billion facility to June 27, 2028. Amendment No. 3 also removed credit spread, sustainability rate, and sustainability commitment fee adjustments. The company paid a 0.05% consent fee to participating lenders. The aggregate commitment amount under the facility remains unchanged at $1.25 billion.

Alcoa Corp reported Q1 2026 sales of $3.19 billion, a decrease from $3.37 billion in Q1 2025, with net income attributable to Alcoa Corporation falling to $425 million from $548 million. Basic EPS was $1.61, down from $2.08. The Aluminum segment's Adjusted EBITDA significantly increased to $694 million, while the Alumina segment recorded a loss. The company also announced the redemption of its 144A Debt on April 14, 2026.

Alcoa Corporation announced its first quarter 2026 financial results on April 16, 2026. The company issued a press release detailing these results, which is attached as Exhibit 99.1 to the 8-K filing. This report serves to formally disclose the release of the financial information.

Alcoa Corporation's wholly-owned subsidiary, Alcoa Nederland Holding B.V., announced its election to redeem all outstanding 6.125% Notes due 2028. The aggregate principal amount of the notes is $218,742,000. The redemption will occur on May 15, 2026, at a price equal to 100.000% of the principal amount, plus accrued and unpaid interest.