Alcoa — Oct 15, 2026 release

The difference between production and shipments reflects trading volumes and externally sourced alumina to fulfill customer contracts. Alcoa reaffirms its 2026 Aluminum segment production and shipment projection of 2.4 to 2.6 million metric tons and 2.6 to 2.8 million metric tons, respectively. For the fourth quarter 2026, the Company expects to maintain the strong operational performance delivered in the third quarter 2026. Higher production and shipments are expected in both segments, as improved refining system stability is maintained and the smelting portfolio continues to deliver incremental output. Within the fourth quarter 2026 Alumina Segment Adjusted EBITDA, the Company expects performance to be consistent sequentially. Within the fourth quarter 2026 Aluminum Segment Adjusted EBITDA, the Company expects higher raw material costs and planned maintenance, intended to support continued operational stability, to result in unfavorable impacts of approximately $30 million sequentially. Alumina costs in the Aluminum segment are expected to be unfavorable by approximately $30 million sequentially. Other income is expected to increase by approximately $20 million in the fourth quarter 2026 due to higher interest earned on cash held for the AliGroup acquisition. Alcoa expects Interest expense to approximate $185 million for the year, an increase from the prior projection, as a result of the Notes issuance. Based on current alumina and aluminum market condit