Alcoa Corporation filed a Form 8-K on September 10, 2026, incorporating by reference Exhibit 99.1, which contains South32 Limited’s Notice of Meeting and Explanatory Memorandum regarding the proposed sale of its aluminum value chain assets to Alcoa. The transaction involves an implied enterprise value of up to US$5.6 billion, comprising US$3.1 billion in upfront cash, US$1 billion in Alcoa scrip, up to US$750 million in price-linked contingent consideration through 2030, and approximately US$750 million in assumed net debt and lease liabilities. South32 shareholders are scheduled to vote on the resolution at a general meeting on October 15, 2026. Alcoa operates in the aluminum industry.
