Alumina Limited

Alcoa Separation Information

In September 2015 Alcoa announced a plan to separate into two public traded companies

Alumina Limited and Alcoa Inc. announced on 2 September 2016 that they have agreed to make certain changes to the Alcoa World Alumina and Chemicals ("AWAC") joint venture that will enhance value for Alumina, Alcoa, and their respective shareholders. In conjunction with these amendments, the parties have agreed to terminate their litigation in the Delaware Court of Chancery relating to Alcoa’s pending separation into two independent, publicly traded companies.

In general, the changes to the joint venture agreements are intended to align more closely the partners’ interests in AWAC, while establishing greater strategic flexibility and autonomy for both partners.

Effective upon the completion of Alcoa’s separation, certain changes will be made to the governance and financial policies of the joint venture, intended to enhance the cooperation between the shareholders. These changes will promote faster decision-making, joint input on significant decisions, improved information sharing and a more streamlined process for resolving disputes. The changes will also simplify AWAC’s dividend and cash management policies and require that AWAC raise a limited amount of debt to fund future mutually agreed growth projects.

For further information, please listen to the following webcast or read the ASX announcement:

SEC Filings

Alumina Limited public releases

AWAC Agreements

Copies of the main agreement are available as PDF files.

The main AWAC Agreements are the "Formation Agreement" and the "Charter of the Strategic Council".

The following documents below, apply from the date of Alcoa's separation, 1 November 2016 (New York time).