Alcoa Corporation · NYSE:AA
Alcoa — Shareholder Meeting (May 2019)
20 slides from Alcoa's shareholder meeting presentation, May 8, 2019
Slide 1: Annual Meeting of Stockholders
Annual Meeting of Stockholders Alcoa Corporation May 8, 2019
Slide 2: Safety briefing
Safety briefing Meeting room exits and evacuation 2
Slide 3: Agenda
Agenda Alcoa Corporation stockholder meeting, May 8, 2019 I. Welcome and Call Meeting to Order - Michael G. Morris, Chairman - Roy C. Harvey, President and Chief Executive Officer - Jeffrey D. Heeter, Executive Vice President, General Counsel and Secretary II. Report of the Secretary - Michael G. Mo
Slide 4: Director nominees
Director nominees Twelve directors to serve one-year term Mary Anne Citrino James A. Hughes Carol L. Roberts Senior Advisor, The Blackstone CEO and Managing Director, Former Senior Vice President Group L.P. Prisma Energy Capital and CFO, International Paper Company Timothy P. Flynn Michael G. Morris
Slide 5: Company leadership
Company leadership Management and officers Executive team Officers ▪ Molly S. Beerman, Vice President and Controller ▪ Roy C. Harvey*, President and Chief Executive Officer ▪ William F. Oplinger*, Executive Vice President and Chief Financial Officer ▪ Renato De C. A. Bacchi, Vice President and Treas
Slide 6: Agenda
Agenda Alcoa Corporation stockholder meeting, May 8, 2019 I. Welcome and Call Meeting to Order - Michael G. Morris, Chairman - Roy C. Harvey, President and Chief Executive Officer - Jeffrey D. Heeter, Executive Vice President, General Counsel and Secretary II. Report of the Secretary - Michael G. Mo
Slide 7: Items of business
Items of business Proposals and voting 1. Election of 12 Director Nominees to Serve for a One-Year Term Expiring in 2020 2. Ratification of Appointment of PricewaterhouseCoopers LLP as the Company’s Independent Auditor for 2019 3. Advisory Vote to Approve 2018 Named Executive Officer Compensation 4.
Slide 8: Agenda
Agenda Alcoa Corporation stockholder meeting, May 8, 2019 I. Welcome and Call Meeting to Order - Michael G. Morris, Chairman - Roy C. Harvey, President and Chief Executive Officer - Jeffrey D. Heeter, Executive Vice President, General Counsel and Secretary II. Report of the Secretary - Michael G. Mo
Slide 9: Report of the President and Chief Executive Officer
Report of the President and Chief Executive Officer Roy C. Harvey
Slide 10: Important information
Important information Cautionary statement regarding forward-looking statements and non-GAAP financial measures This presentation contains statements that relate to future events and expectations and as such constitute forward-looking statements within the meaning of the Private Securities Litigatio
Slide 11: Our values and strategic priorities form our foundation
Our values and strategic priorities form our foundation Alcoa Corporation Values Strategic priorities 11
Slide 12: Our values drive gains on safety and environment
Our values drive gains on safety and environment 2018 Safety & environmental review Improving safety performance Focused on environmental sustainability ▪ No fatalities ▪ Long term targets to reduce footprint include GHG, water use, and waste reductions, as ▪ Three serious injuries well as mine reha
Slide 13: Continued to strengthen, improve the Company in 2018
Continued to strengthen, improve the Company in 2018 FY18 Financial results and business review ▪ Net income of $250 million, or $1.33 per share; excluding special items, adjusted net income of $698 million, or $3.70 per share Financial ▪ Adj. EBITDA excluding special items of $3.1 billion; up $0.7
Slide 14: Challenging conditions in today’s aluminum market
Challenging conditions in today’s aluminum market Aluminum market overview Aluminum and alumina price trends, $/mt Alcoa Corporation net income (loss), $M 2,700 750 195 LME Aluminum prices 2,600 Platts Alumina prices 700 2,500 650 2,400 600 51 2,300 550 10 2,200 (6) 500 2,100 450 2,000 400 1,900 1,8
Slide 15: Strong foundation; ready for the future
Strong foundation; ready for the future FY19 Path forward Execute strategic priorities Prepare for the future ▪ Continue progress on safety and environment ▪ Maintain trajectory on operational improvements ▪ Deliver lower raw material prices to earnings ▪ Realize benefits from recent portfolio actio
Slide 16: Questions?
Questions? Alcoa Corporation
Slide 17: Agenda
Agenda Alcoa Corporation stockholder meeting, May 8, 2019 I. Welcome and Call Meeting to Order - Michael G. Morris, Chairman - Roy C. Harvey, President and Chief Executive Officer - Jeffrey D. Heeter, Executive Vice President, General Counsel and Secretary II. Report of the Secretary - Michael G. Mo
Slide 18: Appendix
Appendix
Slide 19: Adjusted EBITDA reconciliation
Adjusted EBITDA reconciliation $M FY17 FY18 Net income (loss) attributable to Alcoa Corporation $279 $250 Add: Net income attributable to noncontrolling interest 329 643 Provision for income taxes 592 732 Other expenses, net 27 64 Interest expense 104 122 Restructuring and other charges, net 309 527
Slide 20: The Element of Possibility”
The Element of Possibility”