Alcoa Inc. will redeem on June 28, 2013 (the Redemption Date) all of its outstanding 6.00% Notes due July 15, 2013 (CUSIP No. 013817AR2) (the Notes) in accordance with the terms of the Notes and the Indenture dated as of September 30, 1993, as supplemented, between Alcoa and The Bank of New York Mellon Trust Company, N.A., as trustee. As of May 24, 2013, the aggregate outstanding principal of the Notes is $422,463,000. The Notes will be redeemed at a redemption price equal to the greater of: (1) 100% of the principal amount of the Notes, plus accrued and unpaid interest to the Redemption Date; or (2) the sum of the present values of the remaining scheduled payments on the Notes, discounted to the Redemption Date as described in the Notes, using a reference rate for a comparable U.S. Treasury security, plus 45 basis points, plus accrued and unpaid interest on the Notes to the Redemption Date. The reference rate will be calculated on the third business day preceding the Redemption Date.

Alcoa Inc. announced that its $21 million Alcoa Wheel and Transportation Products casthouse expansion at its Barberton, Ohio plant is expected to cut in half the total amount of energy used to recycle aluminum for forged wheels, reducing greenhouse gases and increasing the overall efficiency and sustainability of the company's manufacturing process. The recycling facility uses advanced technology to produce wheels from re-melted and scrap aluminum. Construction of the 50,000-square-foot facility began in July 2011. It is now up and running at full capacity and has created more than 30 full-time jobs.

Alcoa Inc. announced it is postponing construction of a new potline at its Baie-Comeau smelter in Quebec as part of a revised modernization plan for the smelter, but will begin preparations for the upgrade by investing $100 million in the smelter over the next three years and by permanently closing the plant's two Soderberg potlines. The new potline is now expected to be in service in 2019 instead of 2016, subject to board approval. The change is due to current market conditions. The $100 million investment includes $30 million that will be used to upgrade the plant's casthouse facilities in support of the growing automotive market. This is in addition to the $75 million already dedicated to rebuild the port facilities to better meet the future needs of a modernized plant. The closure of the two Soderberg potlines, which are among the highest-cost smelting capacity in the Alcoa system, will be complete in August. The two lines represent 105,000 metric tons of capacity, and are part of the 460,000 metric tons of smelting capacity Alcoa announced was under review on May 1.