Alcoa — Apr 16, 2026 release

For the same reasons, the Company is unable to address the probable significance of the unavailable information, which could be material to future results. Alcoa expects 2026 total Alumina segment production and shipments to remain unchanged from its prior projection, ranging between 9.7 to 9.9 million metric tons, and between 11.8 and 12.0 million metric tons, respectively. The difference between production and shipments reflects trading volumes and externally sourced alumina to fulfill customer contracts. Alcoa expects 2026 total Aluminum segment production and shipments to remain unchanged from its prior projection, ranging between 2.4 and 2.6 million metric tons, and between 2.6 and 2.8 million metric tons, respectively. Within the second quarter 2026 Alumina Segment Adjusted EBITDA, the Company expects sequential unfavorable impacts of approximately $15 million due to lower price and volumes from bauxite offtake agreements and higher energy prices, primarily diesel, due to the Middle East conflict. For the second quarter 2026 Aluminum Segment Adjusted EBITDA, Alcoa expects sequential favorable impacts of approximately $55 million due to inventory repositioning actions taken in the first quarter 2026, higher shipments and product premiums, and lower production costs due to the completion of the San Ciprián smelter restart, partially offset by seasonally lower third-party energy sales. Based on recent higher LME and Midwest premium pricing and expected higher shipments, Section 232 tariff costs on U.S. imports of aluminum from Canada