Alumina : Delaware Court sets hearing schedule

Microsoft Word - ASX announcement 2016-24 Alcoa Separation Court

ASX Announcement 9 June 2016

Delaware Court sets hearing schedule

On 27 May 2016 Alcoa filed a Complaint in the Court of Chancery in the State of Delaware seeking court declarations regarding Alumina's rights in the context of the proposed Alcoa corporate separation. At the same time, Alcoa filed an application for an expedited hearing date of 26 July 2016.

Alumina has reached agreement with Alcoa Inc. on a schedule for the proceeding that contemplates a hearing or trial commencing on 20 September 2016.

Alumina considers Alcoa's corporate separation proposal triggers various consent and 'first offer' rights in favour of Alumina under the AWAC arrangements. As a consequence, Alumina would be entitled to receive various offers, including for Alcoa's interest in the AWAC companies. Alumina also considers that it would be entitled to assume additional rights, including rights relating to the marketing of its proportionate share of the production of the joint venture.

Alumina will continue to press for the resolution of these issues in a manner that protects the interests of its shareholders and which is consistent with the consent and offer rights conferred in the AWAC joint venture agreements.

Stephen Foster Company Secretary

9 June 2016

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(c) changes in laws, regulations or policies; (d) changes in alumina or aluminium prices or currency exchange rates; (e) Alumina Limited does not hold a majority interest in AWAC and decisions made by majority vote may not be in the best interests of Alumina Limited; and (f) the other risk factors summarised in Alumina's Annual Report 2014. Readers should not place undue reliance on forward-looking statements. Except as required by law, Alumina disclaims any responsibility to update or revise any forward-looking statements to reflect any new information or any change in the events, conditions or circumstances on which a statement is based or to which it relates.

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