<SEC-DOCUMENT>0001193125-17-118819.txt : 20170410
<SEC-HEADER>0001193125-17-118819.hdr.sgml : 20170410
<ACCEPTANCE-DATETIME>20170410172403
ACCESSION NUMBER:		0001193125-17-118819
CONFORMED SUBMISSION TYPE:	DEFA14A
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20170410
EFFECTIVENESS DATE:		20170410

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Arconic Inc.
		CENTRAL INDEX KEY:			0000004281
		STANDARD INDUSTRIAL CLASSIFICATION:	ROLLING DRAWING & EXTRUDING OF NONFERROUS METALS [3350]
		IRS NUMBER:				250317820
		STATE OF INCORPORATION:			PA
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		DEFA14A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-03610
		FILM NUMBER:		17754430

	BUSINESS ADDRESS:	
		STREET 1:		390 PARK AVENUE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10022-4608
		BUSINESS PHONE:		2128362732

	MAIL ADDRESS:	
		STREET 1:		390 PARK AVENUE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10022-4608

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ALCOA INC.
		DATE OF NAME CHANGE:	20141003

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ALCOA INC
		DATE OF NAME CHANGE:	19990105

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ALUMINUM CO OF AMERICA
		DATE OF NAME CHANGE:	19920703
</SEC-HEADER>
<DOCUMENT>
<TYPE>DEFA14A
<SEQUENCE>1
<FILENAME>d368126ddefa14a.htm
<DESCRIPTION>DEFA14A
<TEXT>
<HTML><HEAD>
<TITLE>DEFA14A</TITLE>
</HEAD>
 <BODY BGCOLOR="WHITE">

 <P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P>
<P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>UNITED STATES </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>SECURITIES AND EXCHANGE COMMISSION </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>WASHINGTON, DC 20549 </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>SCHEDULE 14A
</B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>PROXY STATEMENT PURSUANT TO SECTION 14(a) OF THE </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>SECURITIES EXCHANGE ACT OF 1934 </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Filed by the
Registrant&nbsp;&nbsp;&#9746;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Filed by a Party other than the
Registrant&nbsp;&nbsp;&#9744;</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Check the appropriate box: </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="3%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="96%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#9744;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Preliminary Proxy Statement</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#9744;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Confidential, For Use of the Commission Only (as permitted by Rule 14a-6(e)(2))</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#9744;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Definitive Proxy Statement</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#9746;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Definitive Additional Materials</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#9744;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Soliciting Material Under Rule 14a-12</TD></TR></TABLE> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:22pt; font-family:Times New Roman" ALIGN="center"><B>ARCONIC INC. </B></P>
<P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>(Name of Registrant as Specified In
Its Charter) </B></P> <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></P>
<P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Name of Person(s) Filing Proxy
Statement, if Other Than the Registrant) </B></P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Payment of Filing Fee (Check the appropriate box): </P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="3%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="3%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="92%"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#9746;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" COLSPAN="3">No fee required.</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#9744;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" COLSPAN="3">Fee computed on table below per Exchange Act Rules 14a-6(i)(1) and 0-11.</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">(1)</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Title of each class of securities to which transaction applies:</P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">(2)</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Aggregate number of securities to which transaction applies:</P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">(3)</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Per unit price or other underlying value of transaction computed pursuant to Exchange Act Rule 0-11 (set forth the amount on which the filing
fee is calculated and state how it was determined):</P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">(4)</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Proposed maximum aggregate value of transaction:</P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">(5)</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Total fee paid:</P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="24"></TD>
<TD HEIGHT="24" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#9744;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" COLSPAN="3">Fee paid previously with preliminary materials.</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="24"></TD>
<TD HEIGHT="24" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#9744;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" COLSPAN="3">Check box if any part of the fee is offset as provided by Exchange Act Rule 0-11(a)(2) and identify the filing for which the offsetting fee was paid previously. Identify the previous filing by registration statement
number, or the form or schedule and the date of its filing.</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="24"></TD>
<TD HEIGHT="24" COLSPAN="2"></TD>
<TD HEIGHT="24" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">(1)</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Amount previously paid:</P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">(2)</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Form, Schedule or Registration Statement No.:</P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">(3)</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Filing Party:</P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">(4)</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Date Filed:</P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P></TD></TR>
</TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P>
<P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt;margin-bottom:0pt">


<IMG SRC="g368126g0410195234083.jpg" ALT="LOGO">
 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>FOR IMMEDIATE RELEASE </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="51%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="47%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"><B>Investor Contact</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><B>Media Contact</B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Patricia Figueroa</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="right">Shona Sabnis</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">(212) <FONT STYLE="white-space:nowrap">836-2758</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="right">(212) <FONT STYLE="white-space:nowrap">836-2626</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Patricia.Figueroa@arconic.com</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="right">Shona.Sabnis@arconic.com</TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Key Arconic Customers &#150; Airbus, Boeing, United Technologies and GE Aviation - Endorse Company
Management Team and Strategy </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><I>Arconic Board Issues Letter to Shareholders Highlighting Board and Management&#146;s Clearly Defined
Three-Year Plan to Drive Shareholder Value </I></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><I>Plan Focuses on Continued Customer-Centric Innovation, Continued </I></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><I>Cost Effectiveness </I></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><I>Elliott&#146;s Ideas Would Damage Arconic&#146;s Customer Relationships, Risk Company&#146;s Future; Elliott&#146;s Proposed CEO Not
Independent, Wrong for Arconic </I></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><I>Arconic Board Urges Shareholders to Vote &#147;FOR&#148; the Company&#146;s Nominees on the
<U>WHITE</U> Proxy Card &#150; a Vote &#147;FOR&#148; Arconic&#146;s Strategic Plan and Customer Relationships </I></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>NEW YORK,
April</B><B></B><B>&nbsp;10, 2017 </B>&#150; The independent directors of Arconic (NYSE: ARNC) today issued an open letter to shareholders highlighting why key Arconic customers, including Airbus Group, The Boeing Company, United Technologies Corp.,
and GE Aviation support the Company&#146;s management team and strategy of investing in innovation while continuing to focus on cost effectiveness, why ideas proposed by Elliott Management would put these relationships at risk and how they could
damage Arconic&#146;s future. Additional information, including the letter to shareholders, is available at&nbsp;www.arconic.com/annualmeeting. </P>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The full text of the letter follows: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Dear Fellow Arconic Shareholder: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Over the past eight years,
your management team, under the leadership of Chief Executive Officer Klaus Kleinfeld, has executed a highly successful transformation and built Arconic into a global leader in precision engineering and advanced manufacturing. <U>Elliott Management
(&#147;Elliott&#148;) agrees: &#147;Arconic possesses a world class asset base, and in some cases, one of a kind assets.</U>&#148;<SUP STYLE="font-size:85%; vertical-align:top">1*</SUP> </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Arconic was created through years of deliberate investments developing cutting-edge technology, material science and advanced manufacturing. This, along with
management&#146;s focus on strong cost control, has enabled Arconic to very successfully develop long-term customer partnerships and profitably grow. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Your Board and management team have a clear plan to continue the progress we have already made: continue to invest in innovative and high-value solutions for
our customers and ensure that customers continue turning to Arconic to help them solve their most critical technological and manufacturing challenges. </P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>ARCONIC CUSTOMERS SUPPORT THE COMPANY&#146;S MANAGEMENT TEAM AND STRATEGY OF INVESTING IN INNOVATION WHILE ENSURING COST EFFECTIVENESS
</B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Arconic has a <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">best-in-class</FONT></FONT> technology portfolio with more than 2,000
pending and granted patents. This includes game-changing innovations: bonding technology that helps automakers build better-performing, stronger, lighter cars and trucks, like the Ford <FONT STYLE="white-space:nowrap">F-150;</FONT> high temperature
blades for jet engines made by Pratt and Whitney and GE that make airplanes fly more efficiently; and 3D printed parts for aerospace giants like Airbus that push the reaches of current technology. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">We have a proven <FONT STYLE="white-space:nowrap">128-year</FONT> heritage of innovation born in places like Cleveland, Pittsburgh and Davenport. Our deep
understanding of our customers&#146; applications allows us to develop solutions that create substantial value for them. Our innovations drive performance and, paired with our focus on cost effectiveness, have allowed us to successfully build
long-term customer relationships. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Today, our hard-working and talented employees make the products that are mission critical to some of the world&#146;s
leading companies, including GE, United Technologies, Boeing, Airbus, Ford and PACCAR; these customers believe in what we are doing.&nbsp;&nbsp;&nbsp;&nbsp; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>Don&#146;t just take our word for it. Here&#146;s what our customers have to say: </U> </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman"><I>&#147;Arconic has become a key partner to Airbus for new technologies. What I particularly value is Klaus&#146; deep understanding of the
critical levers to support OEM goals. As CEO of Airbus, I fully support his continued leadership of Arconic.&#148; </I></P> <P STYLE="line-height:8.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000;width:10%">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">1</SUP></TD>
<TD ALIGN="left" VALIGN="top"><SUP STYLE="font-size:85%; vertical-align:top"></SUP>Elliott Management letter to shareholders, March&nbsp;9, 2017 </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">*</TD>
<TD ALIGN="left" VALIGN="top">Permission to use quotation neither sought nor obtained </TD></TR></TABLE>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="9%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"><I>Tom Enders, CEO, Airbus Group, March 2017</I> </TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman"><I>&#147;In a technology-driven sector like
aerospace&#133;we need our <FONT STYLE="white-space:nowrap">top-tier</FONT> suppliers operating as true business and industry partners. Klaus Kleinfeld and his team have&#133;improved our business relationship by focusing in the right areas,
increasing our collective competitiveness and delivering innovation and greater value to the customers we serve together in global markets.&#148; </I></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="9%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"><I>Dennis Muilenburg, Chairman, President</I><I></I><I>&nbsp;&amp; CEO, The Boeing Company, March 2017 </I> </TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman"><I>&#147;Klaus Kleinfeld and his team have been among our most valuable partners in the development of some of the most complex parts that make
up Pratt&nbsp;&amp; Whitney&#146;s Geared Turbofan Engine&#133; [we] support Klaus and the rest of Arconic management as they remain focused on the investments that will secure sustainable, long-term growth for UTC, for Arconic, and for our entire
industry.&#148;</I> </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="9%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"><I>Greg J. Hayes, Chairman, President</I><I></I><I>&nbsp;&amp; CEO of United Technologies Corp., March 2017</I> </TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman"><I>&#147;Investments in technology and rate readiness are more important than ever within the supply chains of our growing aviation industry.
GE supports Klaus and the Arconic commitment to those priorities and the long-term future of our industry.&#148;</I><B><SUP STYLE="font-size:85%; vertical-align:top"> </SUP></B><I></I> </P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="9%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"><I>David Joyce, GE Vice Chair and GE Aviation President</I><I></I><I>&nbsp;&amp; CEO, February 2017</I> </TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>Shareholders should ask themselves: if Elliott has credible ideas about how to strengthen Arconic&#146;s business, improve operating performance and build
long-term value, why haven&#146;t any of our key customers endorsed Elliott?</U> </P> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>ELLIOTT&#146;S IDEAS WOULD DAMAGE OUR CUSTOMER
RELATIONSHIPS </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>AND RISK OUR FUTURE </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Unfortunately, Elliott fails to understand that the success of our business requires close, collaborative partnerships with our customers that have been built
over many years and even decades. By successfully shifting to higher-value, less commoditized products, we have doubled the profitability in Arconic&#146;s businesses over the last eight years. At Arconic, we believe that pricing should reflect the
value we bring to our customers &#150; and the greater value we create for them, the greater profitability for our shareholders. In contrast, rather than maintaining or strengthening our close customer ties and innovation edge, Elliott has proposed
that Arconic cut R&amp;D spending and &#147;utilize its pricing power with customers&#148;<SUP STYLE="font-size:85%; vertical-align:top">2*</SUP> &#150; otherwise known as price gouging. </P>
<P STYLE="line-height:8.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000;width:10%">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">2</SUP>&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">Elliott letter to shareholders, March 10, 2017 </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">*</TD>
<TD ALIGN="left" VALIGN="top">Permission to use quotation neither sought nor obtained </TD></TR></TABLE>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>These short-sighted ideas might be good for an activist hedge fund investor in the near term. But, they would
put our critical customer relationships at significant risk, and potentially lead to the loss of their business altogether &#150; significantly damaging our future. </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Arconic&#146;s Board and management have a strong, clearly defined three-year plan that focuses on delivering value to you, our shareholders. Elliott has no
clear plan. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="51%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="47%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP ALIGN="center"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-bottom:1.00pt solid #000000; width:112.40pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Arconic&#146;s Value-Enhancing
Path</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-bottom:1.00pt solid #000000; width:109.15pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Elliott&#146;s Value-Destroying
Ideas</B></P></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:2.00em; text-indent:-1.50em; font-size:10pt; font-family:Times New Roman">&#10003;&nbsp;&nbsp;Focus on sustained profitable growth in attractive markets</P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:2.00em; text-indent:-1.50em; font-size:10pt; font-family:Times New Roman">&#10003;&nbsp;&nbsp;Deliver value to customers
through unique technology and material science</P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:2.00em; text-indent:-1.50em; font-size:10pt; font-family:Times New Roman">&#10003;&nbsp;&nbsp;Continuously invest in innovation for new products and better processes</P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:2.00em; text-indent:-1.50em; font-size:10pt; font-family:Times New Roman">&#10003;&nbsp;&nbsp;Disciplined focus on cost
efficiencies in the businesses as well as in corporate</P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:2.00em; text-indent:-1.50em; font-size:10pt; font-family:Times New Roman">&#10003;&nbsp;&nbsp;Increase capital efficiency with a focus on both short- and long-term returns</P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; margin-left:2.00em; text-indent:-1.50em; font-size:10pt; font-family:Times New Roman">&#10003;&nbsp;&nbsp;Maintain a high-performance
team</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:2.00em; text-indent:-1.50em; font-size:10pt; font-family:Times New Roman">&times;&nbsp;&nbsp;&nbsp;&nbsp;No operational plan presented</P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:2.00em; text-indent:-1.50em; font-size:10pt; font-family:Times New Roman">&times;&nbsp;&nbsp;&nbsp;&nbsp;Likely near-term
plan of cutting R&amp;D, which would risk losing the innovative edge that is critical to Arconic&#146;s customers and future profitable growth</P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:2.00em; text-indent:-1.50em; font-size:10pt; font-family:Times New Roman">&times;&nbsp;&nbsp;&nbsp;&nbsp;Indicated plan of price gouging, which would alienate customers and potentially lead to
loss of business</P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:2.00em; text-indent:-1.50em; font-size:10pt; font-family:Times New Roman">&times;&nbsp;&nbsp;&nbsp;&nbsp;Recommending a CEO candidate who has reportedly had a difficult relationship with
valued Arconic customers; is in breach of his <FONT STYLE="white-space:nowrap">non-compete</FONT> contract; and has financial arrangements with Elliott</P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; margin-left:2.00em; text-indent:-1.50em; font-size:10pt; font-family:Times New Roman">&times;&nbsp;&nbsp;&nbsp;&nbsp;Removal of critical and necessary skills from the Board of Directors</P></TD></TR>
</TABLE> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>ELLIOTT&#146;S PROPOSED CEO IS WRONG FOR ARCONIC AND IS NOT INDEPENDENT </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Elliott has proposed that Larry Lawson, a former Spirit AeroSystems CEO and currently Elliott&#146;s consultant, should replace Mr.&nbsp;Kleinfeld, our CEO.
In our view, Mr.&nbsp;Lawson is not the right person to lead Arconic. There are significant doubts about his ability to maintain the customer relationships that are an essential element of our future success. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Shareholders should ask themselves: Why did Mr.&nbsp;Lawson depart from both Lockheed Martin and Spirit AeroSystems so abruptly? And what issues did he
leave behind? </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Here&#146;s what independent third parties had to say about Mr.&nbsp;Lawson&#146;s customer relationships:<SUP
STYLE="font-size:85%; vertical-align:top">*</SUP> </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">In relation to Mr.&nbsp;Lawson serving as CEO of Spirit AeroSystems:<I> &#147;Industry executives and government officials who worked with Lawson said he might not be best suited for often tense negotiations with both
Boeing and Airbus about large supply agreements</I><I>&#133;</I><I>&#148; (Reuters, 1/27/16)</I> </TD></TR></TABLE> <P STYLE="line-height:8.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000;width:10%">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">*</SUP>&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">Permission to use quotations neither sought nor obtained </TD></TR></TABLE>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">Following Mr.&nbsp;Lawson&#146;s departure from Lockheed Martin:<I> &#147;&#145;The change in leadership could pave the way for better relations with the Pentagon</I><I>&#133;</I><I>There&#146;s just been a very bad
dynamic established by current [Lockheed] leadership and the customer [the Pentagon]</I><I>&#133;</I><I>&#146;&#148; (Richard Aboulafia, aerospace industry analyst, quoted in Fort Worth Star-Telegram, 3/20/13) </I> </TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">&#133;and Mr.&nbsp;Lawson&#146;s mysterious exits from Spirit AeroSystems and Lockheed Martin: </P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">Regarding his departure from Spirit AeroSystems:<I> &#147;&#145;His sudden decision to go with contract negotiations with Boeing and Airbus unresolved is puzzling.&#146;&#148; (Cai von Rumohr, aerospace analyst at
Cowen</I><I></I><I>&nbsp;&amp; Co., quoted in the Wall Street Journal, 6/8/16)</I> </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">Regarding his departure from Lockheed Martin: <I>&#147;The departure of Lawson is especially intriguing, because he took over as head of aeronautics only 12 months ago, and he is leaving to lead a second-tier company
that has a fraction of the sales his Lockheed unit did.&#148;</I> (<I>Forbes, 3/19/13)</I> </TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Shareholders should also ask themselves
whether Mr.</B><B></B><B>&nbsp;Lawson is a viable CEO candidate</B> given that he is subject to a <FONT STYLE="white-space:nowrap">non-compete</FONT> agreement with Spirit AeroSystems; Spirit AeroSystems has said Mr.&nbsp;Lawson is already in
violation of that agreement as a result of his involvement with Elliott. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">And, finally, shareholders must wonder how Elliott&#146;s proposed compensation
arrangements with Mr.&nbsp;Lawson would influence his actions if he were to become CEO. Elliott has already paid Mr.&nbsp;Lawson approximately $6.6&nbsp;million in consulting fees and indemnification payments. In total, Elliott has agreed to pay him
approximately $28&nbsp;million over the course of the next two years, so that if Mr.&nbsp;Lawson became Arconic&#146;s CEO, he would nevertheless continue to be on Elliott&#146;s payroll. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>This compensation arrangement creates conflicts of interest. Mr.&nbsp;Lawson is getting paid by Elliott. How will he be objective and act in the best
interests of all our shareholders? Elliott should not be permitted to &#147;buy&#148; the next CEO in hopes of influencing him to implement its short-sighted plan. </B></P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>THE BOARD RECOMMENDS SHAREHOLDERS VOTE &#147;FOR&#148; ARCONIC&#146;S INDEPENDENT NOMINEES AND GOVERNANCE PROPOSALS </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Your Board unanimously recommends that shareholders vote <B>&#147;FOR&#148;</B> Arconic&#146;s five highly qualified candidates &#150; Amy E. Alving, David P.
Hess, Klaus Kleinfeld, Ulrich Schmidt and Ratan N. Tata &#150; which is a vote in favor of the Company&#146;s strategic plan and a Board that is committed to creating value for all shareholders. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Elliott has no experience operating a business like ours, and the election of its nominees would remove critical skills from your Board and jeopardize our
future. <B>Elliott has no fiduciary responsibility to Arconic shareholders. They have misled and manipulated the facts. And they have no plan to deliver value. </B> </P>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">After careful study, your Board believes that Arconic has the right strategy and the right team to drive future
value. We ask for your support. </P> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>PROTECT YOUR INVESTMENT. KEEP ARCONIC ON A STRONG PATH. </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>VOTE THE <U>WHITE</U> PROXY CARD TODAY. </B></P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Thank you. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Independent Directors of Arconic
Inc.:&nbsp;&nbsp;&nbsp;&nbsp; </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="51%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="47%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Patricia F. Russo, Lead Independent Director</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">Amy E. Alving</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Arthur D. Collins, Jr.</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">Rajiv L. Gupta</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">David P. Hess</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">Sean O. Mahoney</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">E. Stanley O&#146;Neal</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">John C. Plant</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">L. Rafael Reif</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">Julie G. Richardson</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Ulrich Schmidt</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">Ratan N. Tata</TD></TR>
</TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="100%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER:1px solid #000000; padding-left:8pt; padding-right:2pt"> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Please vote today by telephone, via the Internet or by signing, dating and returning the enclosed <B>WHITE</B> proxy card.</P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt" align="left">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">If you have questions, need assistance in voting your shares
or wish to change a prior vote, please contact:</P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt" align="left">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">INNISFREE
M&amp;A INCORPORATED</P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt" align="left">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Shareholders Call Toll-Free: (877)
750-5836</P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt" align="left">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Banks and Brokers Call Collect: (212)
750-5833</P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt" align="left">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>REMEMBER:</B></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt" align="left">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><U>Please simply discard any Blue proxy card that you may
receive from Elliott Management.</U></B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt" align="left">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><I>Submitting a
proxy using a Blue proxy card &#150; even if you &#147;withhold&#148; on Elliott Management&#146;s nominees &#150; will revoke any vote you had previously submitted on Arconic&#146;s </I><B><I>WHITE</I></B><I> proxy card.</I></P>
<P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD></TR>
</TABLE> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>About Arconic </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">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. </P>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Forward&#150;Looking Statements </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">This communication contains statements that relate to future events and expectations and as such constitute forward-looking statements within the meaning of
the Private Securities Litigation Reform Act of 1995. Forward-looking statements include those containing such words as &#147;anticipates,&#148; &#147;believes,&#148; &#147;could,&#148; &#147;estimates,&#148; &#147;expects,&#148;
&#147;forecasts,&#148; &#147;guidance,&#148; &#147;goal,&#148; &#147;intends,&#148; &#147;may,&#148; &#147;outlook,&#148; &#147;plans,&#148; &#147;projects,&#148; &#147;seeks,&#148; &#147;sees,&#148; &#147;should,&#148; &#147;targets,&#148;
&#147;will,&#148; &#147;would,&#148; or other words of similar meaning. All statements that reflect Arconic&#146;s expectations, assumptions or projections about the future, other than statements of historical fact, are forward-looking statements,
including, without limitation, forecasts relating to the growth of end markets and potential share gains; statements and guidance regarding future financial results or operating performance; and statements about Arconic&#146;s strategies, outlook,
business and financial prospects. Forward-looking statements are not guarantees of future performance, and it is possible that actual results may differ materially from those indicated by these forward-looking statements due to a variety of risks
and uncertainties, including, but not limited to: (a)&nbsp;deterioration in global economic and financial market conditions generally; (b)&nbsp;unfavorable changes in the markets served by Arconic; (c)&nbsp;the inability to achieve the level of
revenue growth, cash generation, cost savings, improvement in profitability and margins, fiscal discipline, or strengthening of competitiveness and operations anticipated from restructuring programs and productivity improvement, cash sustainability,
technology advancements, and other initiatives; (d)&nbsp;changes in discount rates or investment returns on pension assets; (e)&nbsp;Arconic&#146;s inability to realize expected benefits, in each case as planned and by targeted completion dates,
from acquisitions, divestitures, facility closures, curtailments, expansions, or joint ventures; (f)&nbsp;the impact of cyber attacks and potential information technology or data security breaches; (g)&nbsp;political, economic, and regulatory risks
in the countries in which Arconic operates or sells products; (h)&nbsp;the outcome of contingencies, including legal proceedings, government or regulatory investigations, and environmental remediation; and (i)&nbsp;the other risk factors discussed
in Arconic&#146;s Form <FONT STYLE="white-space:nowrap">10-K</FONT> for the year ended December&nbsp;31, 2016, and other reports filed with the U.S. Securities and Exchange Commission (SEC). Arconic disclaims any obligation to update publicly any
forward-looking statements, whether in response to new information, future events or otherwise, except as required by applicable law. Market projections are subject to the risks discussed above and other risks in the market. </P>
</BODY></HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>2
<FILENAME>g368126g0410195234083.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 g368126g0410195234083.jpg
M_]C_X  02D9)1@ ! 0$ 8 !@  #_VP!#  @&!@<&!0@'!P<)"0@*#!0-# L+
M#!D2$P\4'1H?'AT:'!P@)"XG("(L(QP<*#<I+# Q-#0T'R<Y/3@R/"XS-#+_
MVP!# 0D)"0P+#!@-#1@R(1PA,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C(R
M,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C+_P  1" !( .L# 2(  A$! Q$!_\0
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MVN^&(M(N],ADN))Y;J3$SDXSR!Q^=>JQ11P1+'$BHBC 51@"N(\=?\AK0_\
MKJ/_ $(5K1JWGRQ5D<6/P25!U*TN:6GHM5LB*30M>\+2&XT2X:[L\Y:W<9./
MIW^HK8T7QI8:DPM[D&SN^ACD/!/L?\:Z8=!6+K7A;3=:4M-%Y<_::/AOQ]:R
M]I&?\1?,[/JE7#ZX5Z?RO;Y/H;0((R.12UY_N\1^$&^;.H:<._4J/YBNGT;Q
M/IVMH!!*$F[POPWX>M3*DTN9:HUHXV$Y>SFN679_IW-FBBBLCM(I[F"U0/<3
M1Q*3@%V 'ZT07$%S'O@ECE3.-R,"*\+^,]U-XI\<Z%X)LY",N'F*_P );O\
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MYL/#MHUS*>#,R\#Z#^IKGH=(O-(\7:7]ME1KB>02.$Z+STKTVPTVSTRW$-G
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$@#__V0$!

end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
