Alumina : Industrial action at Alcoa of Australia

ASX Announcement

1 October 2018

Australian Workers Union industrial action at Alcoa of Australia

Alumina Limited (ASX: AWC) notes the attached statement from Alcoa of Australia regarding industrial action at its Western Australian operations.

Forward-looking statements

Neither Alumina Limited nor any other person warrants or guarantees the future performance of Alumina Limited or any return on any investment made in Alumina Limited securities. This document may contain certain forward-looking statements, including forward-looking statements within the meaning of the US Private Securities Litigation Reform Act of 1995. The words "anticipate", "aim", "believe", "expect", "project", "estimate", "forecast", "intend", "likely", "should", "could", "will", "may", "target", "plan" and other similar expressions (including indications of "objectives") are intended to identify forward-looking statements. Indications of, and guidance on, future financial position and performance and distributions, and statements regarding Alumina Limited's future developments and the market outlook, are also forward-looking statements.

Any forward-looking statements contained in this document are not guarantees of future performance. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, many of which are beyond the control of Alumina Limited and its directors, officers, employees and agents that may cause actual results to differ materially from those expressed or implied in such statements. Those risks, uncertainties and other factors include (without limitation): (a) material adverse changes in global economic conditions, alumina or aluminium industry conditions or the markets served by AWAC; (b) changes in production or development costs, production levels or sales agreements; (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 Limited's Annual Report 2017. Readers should not place undue reliance on forward-looking statements. Except as required by law, Alumina Limited 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.

Colin Hendry

Assistant Company Secretary

Chris Thiris

Chief Financial Officer

Phone: [phone]

[e-mail]

For investor enquiries:	For media enquiries:
Charles Smitheram	Tim Duncan
Manager - Treasury & Investor Relations	Hinton and Associates
Phone: [phone]	Phone: [phone]
Mobile: [phone]

[e-mail]

Media Release

28 September 2018

Alcoa welcomes employees back to work

Alcoa of Australia (Alcoa) has welcomed a decision by the Australia Workers' Union (AWU)

to end its industrial action regarding a new Enterprise Bargaining Agreement (EBA) for the

Company's Western Australian operations.

Alcoa will take a revised EBA with enhanced job security provisions to an employee vote in October.

The revised EBA includes a commitment from Alcoa that it will not make employees forcibly redundant by outsourcing their work or replacing them with limited-term or casual employees.

Alcoa Chairman and Managing Director Michael Parker said he looked forward to the matter being resolved as quickly as possible for the sake of all parties, most importantly employees who were expected to return to work in the coming days.

"Now we have addressed job security, we encourage the AWU to endorse the EBA," Mr

Parker said.

"We thank our dedicated teams who have kept our Western Australian operations running safely and productively during this difficult time and now look forward to welcoming all employees back to work."

Mr Parker said any new EBA must allow Alcoa to manage its business according to increasingly volatile global operating demands.

"We want to resolve this matter so we can provide certainty to all parties and return our focus to remaining internationally competitive, attracting ongoing investment and providing secure and well-paid jobs now and for future generations."

Employees will receive more information on the revised EBA in the coming days and weeks before voting in mid-October.

Media contact

Jodie Read, Director Corporate Affairs, 0404 800 335

Editor's note

Alcoa of Australia (Alcoa) has a proud history in Australia which it hopes to continue by remaining internationally competitive, attracting ongoing investment and providing jobs for future generations.

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• • Alcoa has been contributing to Australia's economy since 1963, investing more than $12 billion over 55 years.

• • More than 65 per cent of Alcoa's total annual revenue stays in Australia through wages, local purchasing, taxes, royalties, capital investment and dividends to Australian shareholders.

• • Alcoa employs more than 4,275 people in Australia. About 3,750 live in WA.

• • In our 55 years, Alcoa has taken on more than 2000 apprentices, trainees and graduates.

• • Alcoa invested $1.7 billion with Australian suppliers in 2017.

• • Alcoa paid $654 million in Australian wages, salaries and associated benefits in 2017.

• • Alcoa paid $400 million in State, Federal and Local government taxes and royalties in 2017.

• • Alcoa made $4.2 million in community contributions in 2017.

About Alcoa

Alcoa (NYSE: AA) is a global industry leader in bauxite, alumina and aluminum products, with a strong portfolio of value-added cast and rolled products and substantial energy assets. Alcoa is built on a foundation of strong values and operating excellence dating back nearly 130 years to the world-changing discovery that made aluminum an affordable and vital part of modern life. Since developing the aluminum industry, and throughout our history, our talented employees have followed on with breakthrough innovations and best practices that have led to efficiency, safety, sustainability and stronger communities wherever we operate. Visit us online onwww.alcoa.com,follow @Alcoa on Twitter and on Facebook atwww.facebook.com/Alcoa.