Agreement Would Leverage Experience of Both Leaders and Cooperation from Key Stakeholders PITTSBURGH--(BUSINESS WIRE)-- Today, Alcoa Corporation (NYSE: AA, ASX: AAI) and IGNIS Equity Holdings, SL (IGNIS EQT), the majority shareholder in the IGNIS Group of Companies, a vertically integrated energy company based in Spain, announced that they are progressing toward entering into a strategic cooperation agreement (the "partnership") to support the continued operation of Alcoa's San Ciprián operations. Under the proposed agreement, Alcoa would contribute €75 million, and IGNIS EQT would make an initial investment of €25 million to fund the operations. Alcoa would continue as the managing operator of the San Ciprián operations, with IGNIS EQT holding 25 percent ownership. Additionally, up to €100 million would be funded by Alcoa as needed for operations with a priority position in future cash returns.