First quarter ended March 31, 2025

Saudi Arabia
Joint Venture

Mining

Energy

Other

Sales

$

956

$

168

$

58

$

111

Cost of goods sold

775

104

22

100

Net income (loss)

13

19

29

(10

)

Equity in net income (loss) of affiliated companies, 
   before reconciling adjustments

3

9

11

(5

)

Other

6

—

—

(7

)

Alcoa Corporation’s equity in net income (loss) of 
   affiliated companies

9

9

11

(12

)

First quarter ended March 31, 2024

Sales

$

711

$

115

$

63

$

115

Cost of goods sold

599

103

25

105

Net (loss) income

(8

)

(5

)

31

(16

)

Equity in net (loss) income of affiliated companies,
   before reconciling adjustments

(2

)

(2

)

12

(8

)

Other

(8

)

—

(1

)

(5

)

Alcoa Corporation’s equity in net (loss) income of 
   affiliated companies

(10

)

(2

)

11

(13

)