Arconic Inc. Announces Commencement of When Issued Trading of Arconic Rolled Products Corporation Common Stock

PITTSBURGH--(BUSINESS WIRE)--In connection with the separation of Arconic Inc. (NYSE: ARNC) into two independent, publicly-traded companies, Arconic Inc. announced today that Arconic Rolled Products Corporation (which will be renamed Arconic Corporation in connection with the separation) ("Arconic Corporation"), is expected to commence trading today, March 18, 2020, on a "when issued" basis under the symbol "ARNC WI" on the New York Stock Exchange. At the time of separation, Arconic Inc. stockholders are expected to receive one share of Arconic Corporation common stock for every four shares of Arconic Inc. common stock held as of the record date. The record date for the distribution of Arconic Corporation common stock is March 19, 2020 and the time of the distribution is expected to be 12:01 A.M. on April 1, 2020. "Regular-way" trading in Arconic Corporation's common stock is expected to begin on April 1, 2020.

The distribution remains subject to the satisfaction or waiver of the conditions described in Arconic Rolled Products Corporation's Registration Statement on Form 10, as amended. The transaction does not require approval from Arconic Inc. stockholders. The Form 10 has been filed by Arconic Rolled Products Corporation with the SEC, and has been declared effective by the SEC, and is available at www.arconic.com.

Arconic Inc. expects to make available an information statement to all stockholders entitled to receive the distribution of shares of Arconic Corporation common stock on or about March 19, 2020. The information statement is filed as an exhibit to Arconic Rolled Products Corporation's Registration Statement on Form 10, and describes Arconic Corporation and certain risks of owning Arconic Corporation common stock and provides other information regarding the separation and distribution.

Trading Common Stock

Arconic Inc. stockholders who hold shares of common stock on the record date of March 19, 2020, and decide to sell any of those shares before the distribution date, should consult their stockbroker, bank or other nominee to understand whether the shares of Arconic Inc. common stock will be sold with or without entitlement to Arconic Corporation common stock pursuant to the distribution.

Beginning on or about March 18, 2020, and continuing up to and through the distribution date, two markets are expected for Arconic Inc. common stock: the "regular-way" market and the "ex-distribution" market. Shares that trade in the "regular-way" market will be entitled to shares of Arconic Corporation common stock distributed pursuant to the distribution; shares that trade in the "ex-distribution" market will trade under the symbol HWM WI and without an entitlement to shares of Arconic Corporation common stock distributed pursuant to the distribution.

The separation date of April 1, 2020 may change if certain conditions are not satisfied by that date, as described in Arconic Rolled Products Corporation's information statement filed with the Form 10.

About Arconic

Arconic (NYSE: ARNC) creates breakthrough products that shape industries. Working in close partnership with our customers, we solve complex engineering challenges to transform the way we fly, drive, build and power. Through the ingenuity of our people and cutting-edge advanced manufacturing techniques, we deliver these products at a quality and efficiency that ensure customer success and shareholder value. For more information: www.arconic.com. Follow @arconic: Twitter, Instagram, Facebook, LinkedIn and YouTube.

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