Document:

Form of Medium-Term Notes, Series K

 Exhibit 4.1 
 [Face of Note] 
 Unless this certificate is presented by an authorized
representative of The Depository Trust Company, a New York corporation (“DTC”), to the Company or its agent for registration of transfer, exchange or payment, and any certificate issued is registered in the name of Cede &
Co. or in such other name as requested by an authorized representative of DTC (and any payment is made to Cede & Co. or such other entity as is requested by an authorized representative of DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR
VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL inasmuch as the registered owner hereof, Cede & Co., has an interest herein. 
  

			
	 CUSIP NO. 94986RBR1
	  	FACE AMOUNT: $            
	 REGISTERED NO.     
	  	

 WELLS FARGO & COMPANY 

MEDIUM-TERM NOTE, SERIES K 
 Due Nine Months or More From Date of Issue 
 Notes Linked to the iShares
MSCI Emerging 
 Markets Index Fund due November 30, 2012 

WELLS FARGO & COMPANY, a corporation duly organized and existing under the laws of the State of Delaware (hereinafter called the
“Company,” which term includes any successor corporation under the Indenture hereinafter referred to), for value received, hereby promises to pay to CEDE & Co., or registered assigns, an amount equal to the Redemption
Amount (as defined below), in such coin or currency of the United States of America as at the time of payment is legal tender for payment of public and private debts, on the Stated Maturity Date. The “Initial Stated Maturity Date”
shall be November 30, 2012. If no Market Disruption Event (as defined below) occurs or is continuing on the scheduled Calculation Day (as defined below), the Initial Stated Maturity Date will be the “Stated Maturity Date.” If a
Market Disruption Event occurs or is continuing on the scheduled Calculation Day, the “Stated Maturity Date” shall be the later of (i) three Business Days (as defined below) after the postponed Calculation Day and (ii) the
Initial Stated Maturity Date. This Security shall not bear any interest. 
 Any payments on this Security at Maturity will be
made against presentation of this Security at the office or agency of the Company maintained for that purpose in the City of Minneapolis, Minnesota and at any other office or agency maintained by the Company for such purpose. 

“Face Amount” shall mean, when used with respect to this Security, the amount set forth on the face of this Security as
its “Face Amount.” 

 Determination of Redemption Amount 

The “Redemption Amount” of this Security will equal: 

 

	 	•	 	 If the Ending Price is greater than the Starting Price, the lesser of: 

 

	 	(i)	the Face Amount plus: 

  

																							
		 		 	 	 	Face Amount x	 		 	 	  	 Ending Price – Starting Price

Starting Price
	 	 	 	 x Participation Rate
	 	 	 	 ; and
	 	

  

	 	(ii)	the Capped Value; 

  

	 	•	 	 If the Ending Price is less than or equal to the Starting Price, but greater than or equal to the Threshold Price: the Face Amount; or

  

	 	•	 	 If the Ending Price is less than the Threshold Price: Face Amount minus: 

 

																			
		 		 		 	 	 	Face Amount x	  	 Threshold Price – Ending Price

Starting Price
	 	 	 		 		 	

 The “Fund” shall mean the iShares MSCI Emerging Markets Index Fund. 

The “Pricing Date” shall mean November 22, 2010. 

The “Starting Price” is $46.35, the Fund Closing Price of the Fund on the Pricing Date. 

The “Ending Price” will be the Fund Closing Price of the Fund on the Calculation Day. 

The “Fund Closing Price” with respect to the Fund on any Trading Day means the product of (i) the Closing Price of
one share of the Fund (or one unit of any other security for which a Fund Closing Price must be determined) on such Trading Day and (ii) the Adjustment Factor on such Trading Day. 

The “Closing Price” with respect to a share of the Fund (or one unit of any other security for which a Closing Price
must be determined) on any Trading Day means the price, at the scheduled weekday closing time, without regard to after hours or any other trading outside the regular trading session hours, of the share on the principal United States securities
exchange registered under the Securities Exchange Act of 1934, as amended, on which the share (or any such other security) is listed or admitted to trading. 
 The “Adjustment Factor” means, with respect to a share of the Fund (or one unit of any other security for which a Fund Closing Price must be determined), 1.0, subject to adjustment in the
event of certain events affecting the shares of the Fund. See —Anti-dilution Adjustments Relating To The Fund; Alternate Calculation —Anti-dilution Adjustments” below. 

  
 2 

 The “Capped Value” is 118.3% of the Face Amount of this Security.

 The “Threshold Price” is $37.08, which is equal to 80% of the Starting Price. 

The “Participation Rate” is 200%. 
 “Business Day” shall mean a day, other than a Saturday or Sunday, that is neither a legal holiday nor a day on which banking institutions are authorized or required by law or regulation
to close in New York, New York or Minneapolis, Minnesota. 
 A “Trading Day” with respect to the Fund means a
day, as determined by the Calculation Agent, on which (i) the Relevant Exchange (as defined below) with respect to the Fund is open for trading for its regular trading session and (ii) the Relevant Exchange on which futures or options
contracts related to the Fund or any successor thereto, if applicable, are traded, are open for trading for their respective regular trading sessions. 
 The “Calculation Day” shall be November 23, 2012 or, if such day is not a Trading Day, the next succeeding Trading Day. The Calculation Day is subject to postponement due to the
occurrence of a Market Disruption Event. If a Market Disruption Event occurs or is continuing with respect to the Fund on the Calculation Day, such Calculation Day will be postponed to the first succeeding Trading Day on which a Market Disruption
Event has not occurred and is not continuing. If such first succeeding Trading Day has not occurred as of the eighth scheduled Trading Day after the scheduled Calculation Day, that eighth scheduled Trading Day shall be deemed the Calculation Day. If
the Calculation Day has been postponed eight scheduled Trading Days after the scheduled Calculation Day and such eighth scheduled Trading Day is not a Trading Day, or if a Market Disruption Event occurs or is continuing with respect to the Fund on
such eighth scheduled Trading Day, the Calculation Agent will determine its good faith estimate of the Closing Price of the Fund on such eighth scheduled Trading Day. See “—Market Disruption Events.” 

“Calculation Agent Agreement” shall mean the Calculation Agent Agreement dated as of November 30, 2010 between the
Company and the Calculation Agent, as amended from time to time. 
 “Calculation Agent” shall mean the Person
that has entered into the Calculation Agent Agreement with the Company providing for, among other things, the determination of the Ending Price and the Redemption Amount, which term shall, unless the context otherwise requires, include its
successors under such Calculation Agent Agreement. The initial Calculation Agent shall be Wells Fargo Securities, LLC. Pursuant to the Calculation Agent Agreement, the Company may appoint a different Calculation Agent from time to time after the
initial issuance this Security without the consent of the Holder of this Security and without notifying the Holder of this Security. 

  
 3 

 Market Disruption Events 

A “Market Disruption Event” means, with respect to the Fund, any of the following events as determined by the Calculation
Agent in its sole discretion: 
  

	 	(A)	A material suspension or material limitation of trading or the unavailability of the Closing Price of the shares of the Fund or any Successor Fund (as defined below
under “Anti-dilution Adjustments Relating to the Fund; Alternate Calculation —Liquidation Events”) has been imposed by the Relevant Exchange on which such shares are traded, at any time during the one-hour period preceding the Close
of Trading on such day, whether by reason of movements in price exceeding limits permitted by such Relevant Exchange or otherwise. 

  

	 	(B)	A material suspension or material limitation of trading has occurred on that day, in each case during the one-hour period preceding the Close of Trading in options or
futures contracts related to the Fund or any Successor Fund on the Relevant Exchange on which those options or futures contracts are traded, whether by reason of movements in price exceeding levels permitted by the Relevant Exchange, or otherwise.

  

	 	(C)	Any event, other than an early closure, that materially disrupts or impairs the ability of market participants in general to effect transactions in, or obtain market
values for, the shares of the Fund or any Successor Fund at any time during the one-hour period that precedes the Close of Trading on that day. 

  

	 	(D)	Any event, other than an early closure, that materially disrupts or impairs the ability of market participants in general to effect transactions in, or obtain market
values for, the futures or options contracts relating to the Fund or any Successor Fund on the Relevant Exchange on which those futures or options contracts are traded, at any time during the one-hour period that precedes the Close of Trading on
that day. 

  

	 	(E)	The closure of the Relevant Exchange on which the shares of the Fund or any Successor Fund or the Relevant Exchange on which futures or options contracts relating to
the Fund or any Successor Fund are traded prior to its scheduled Close of Trading unless the earlier closing time is announced by such Relevant Exchange at least one hour prior to the earlier of (1) the actual closing time for the regular
trading session on such Relevant Exchange and (2) the submission deadline for orders to be entered into such Relevant Exchange for execution at the Close of Trading on that day. 

For purposes of determining whether a Market Disruption Event has occurred: 

 

	 	(1)	“Close of Trading” means in respect of any Relevant Exchange, the scheduled weekday closing time on a day on which such Relevant Exchange is scheduled
to be open for trading for its respective regular trading session, without regard to after hours or any other trading outside the regular trading session hours; and 

  
 4 

  

	 	(2)	“Relevant Exchange” for any share, option or option contract means the primary exchange or quotation system on which such share, option or option
contract is traded, as determined by the Calculation Agent. 

 Anti-dilution Adjustments Relating to the Fund; Alternate
Calculation 
 Anti-dilution Adjustments 

The Calculation Agent, in its sole discretion, may adjust the Adjustment Factor as a result of certain events related to the Fund or any
Successor Fund, as applicable, which occur during the term of this Security. Such events include, but are not limited to, the following: 
  

	 	(A)	Stock Splits and Reverse Stock Splits 

 If a stock split or reverse stock split has occurred, then once such split has become effective, the Adjustment Factor will be adjusted to equal the product of the prior Adjustment Factor and the number
of securities which a holder of one share (or other applicable security) of the Fund before the effective date of such stock split or reverse stock split would have owned or been entitled to receive immediately following the applicable effective
date. 
  

	 	(B)	Stock Dividends 

 If a
(i) stock dividend (i.e., issuance of additional shares (or other applicable security) by the Fund) that is given ratably to all holders of record of shares (or other applicable security) of the Fund or (ii) distribution of shares (or
other applicable security) of the Fund has occurred, then once the dividend has become effective and the shares (or other applicable security) of the Fund are trading ex-dividend, the Adjustment Factor will be adjusted on the ex-dividend date to
equal the prior Adjustment Factor plus the product of the prior Adjustment Factor and the number of shares (or other applicable security) of the Fund which a holder of one share (or other applicable security) of the Fund before the date the dividend
became effective and the shares (or other applicable security) of the Fund traded ex-dividend would have owned or been entitled to receive immediately following that date; provided, however, that no adjustment will be made for a distribution for
which the number of securities of the Fund paid or distributed is based on a fixed cash equivalent value, unless such distribution is an Extraordinary Dividend as defined and discussed below. 

 

	 	(C)	Extraordinary Dividends 

If an Extraordinary Dividend (as defined below) has occurred, then on the ex-dividend date, the Adjustment Factor will be adjusted to
equal the product of the prior Adjustment Factor and a fraction, the numerator of which is the Closing Price per share (or other applicable security) of the Fund on the Trading Day preceding the ex-dividend date, and the denominator of which is the
amount by 

  
 5 

 
which the Closing Price per share (or other applicable security) of the Fund on the Trading Day preceding the ex-dividend date exceeds the Extraordinary Dividend Amount (as defined below).

 For purposes of determining whether an Extraordinary Dividend has occurred: 

 

	 	(1)	“Extraordinary Dividend” means, with respect to a cash dividend or other distribution with respect to the shares (or other applicable security) of the
Fund, a dividend or other distribution which exceeds the immediately preceding non-Extraordinary Dividend on the securities of the Fund (as adjusted for any subsequent corporate event requiring an adjustment hereunder, such as a stock split or
reverse stock split) by an amount equal to at least 10% of the Closing Price of the Fund on the Trading Day preceding the ex-dividend date with respect to the Extraordinary Dividend (the “ex-dividend date”); and

  

	 	(2)	“Extraordinary Dividend Amount” with respect to an Extraordinary Dividend for the securities of the Fund will equal: 

 

	 	•	 	 in the case of cash dividends or other distributions that constitute regular dividends, the amount per share (or other applicable security) of the Fund
of that Extraordinary Dividend minus the amount per share (or other applicable security) of the immediately preceding non-Extraordinary Dividend for that share (or other applicable security) of the Fund; or 

 

	 	•	 	 in the case of cash dividends or other distributions that do not constitute regular dividends, the amount per share (or other applicable security) of
the Fund of that Extraordinary Dividend. 

 To the extent an Extraordinary Dividend is not paid in cash, the
value of the non-cash component will be determined by the Calculation Agent. A distribution on the securities of the Fund described below under the sections entitled “—Other Distributions” and “—Reorganization Events”
below that also constitute an Extraordinary Dividend will only cause an adjustment pursuant to those sections. 
  

	 	(D)	Other Distributions 

 If
the Fund declares or makes a distribution to all holders of the shares (or other applicable security) of the Fund of any class of its capital stock, evidences of its indebtedness or other non-cash assets, including, but not limited to, transferable
rights and warrants, then, in each of these cases, the Adjustment Factor will equal the product of the prior Adjustment Factor and a fraction, the numerator of which will be the Closing Price per share (or other applicable security) of the Fund, and
the denominator of which will be the Closing Price per share (or other applicable security) of the Fund, less the fair market value, as determined by the Calculation 

  
 6 

 
Agent, as of the time the adjustment is effected of the portion of the capital shares, assets, evidences of indebtedness, rights or warrants so distributed or issued applicable to one share (or
other applicable security) of the Fund. 
  

	 	(E)	Reorganization Events 

 If
the Fund, or any Successor Fund, is subject to a merger, combination, consolidation or statutory exchange of securities with another exchange traded fund, and the Fund is not the surviving entity, then, on or after the date of such event, the
Calculation Agent shall, in its sole discretion, make an adjustment to the Adjustment Factor or the method of determining the Redemption Amount or any other terms of this Security as the Calculation Agent determines appropriate to account for the
economic effect on this Security of such event (including adjustments to account for changes in volatility, expected dividends, stock loan rate or liquidity relevant to this Security), and determine the effective date of that adjustment. If the
Calculation Agent determines that no adjustment that it could make will produce a commercially reasonable result, then the Calculation Agent may deem such event a Liquidation Event (as defined below). 

Liquidation Events 
 If the Fund is de-listed, liquidated or otherwise terminated (a “Liquidation Event”), and a successor or substitute exchange traded fund exists that the Calculation Agent determines, in
its sole discretion, to be comparable to the Fund, then, upon the Calculation Agent’s notification of that determination to the Trustee and the Company, any subsequent Fund Closing Price for the Fund will be determined by reference to the Fund
Closing Price of such successor or substitute exchange traded fund (such exchange traded fund being referred to herein as a “Successor Fund”). 
 Upon any selection by the Calculation Agent of a Successor Fund, the Company will cause notice to be given to Holder of this Security. 

If the Fund undergoes a Liquidation Event prior to, and such Liquidation Event is continuing on, the date that the Fund Closing Price of
the Fund is to be determined and the Calculation Agent determines that no Successor Fund is available at such time, then the Calculation Agent will, in its discretion, calculate the Fund Closing Price for the Fund on such date by a computation
methodology that the Calculation Agent determines will as closely as reasonably possible replicate the Fund. 
 If a Successor
Fund is selected or the Calculation Agent calculates the Fund Closing Price as a substitute for the Fund, such Successor Fund or Fund Closing Price will be used as a substitute for the Fund for all purposes, including for purposes of determining
whether a Market Disruption Event exists. 
 If at any time the method of calculating the Fund or a Successor Fund, or the MSCI
Emerging Markets Index (the index underlying the Fund), is changed in a material respect, or if 

  
 7 

 
the Fund or a Successor Fund is in any other way modified so that the Fund does not, in the opinion of the Calculation Agent, fairly represent the price of the securities of the Fund or such
Successor Fund had such changes or modifications not been made, then the Calculation Agent will, at the close of business in New York City on the date that the Fund Closing Price is to be determined, make such calculations and adjustments as, in the
good faith judgment of the Calculation Agent, may be necessary in order to arrive at a Closing Price of an exchange traded fund comparable to the Fund or such Successor Fund, as the case may be, as if such changes or modifications had not been made,
and calculate the Fund Closing Price and the Redemption Amount with reference to such adjusted Closing Price of the Fund or such Successor Fund, as applicable. 
 Calculation Agent 
 The Calculation Agent will determine the
Redemption Amount and the Ending Price. In addition, the Calculation Agent will (i) determine if adjustments are required to the Fund Closing Price and/or the Adjustment Factor under the circumstances described in this Security, (ii) if
the Fund undergoes a Liquidation Event, select a Successor Fund or, if no Successor Fund is available, determine the Fund Closing Price of the Fund, and (iii) determine whether a Market Disruption Event has occurred. 

The Company covenants that, so long as this Security is Outstanding, there shall at all times be a Calculation Agent (which shall be a
broker-dealer, bank or other financial institution) with respect to this Security. 
 All determinations made by the Calculation
Agent with respect to this Security will be at the sole discretion of the Calculation Agent and, in the absence of manifest error, will be conclusive for all purposes and binding on the Company and the Holder of this Security. All percentages and
other amounts resulting from any calculation with respect to this Security will be rounded at the Calculation Agent’s discretion. 

Tax Considerations 

The Company agrees, and by acceptance of a beneficial ownership interest in this Security each Holder of this Security will be deemed to
have agreed (in the absence of a statutory, regulatory, administrative or judicial ruling to the contrary), for United States federal income tax purposes to characterize and treat this Security as a pre-paid derivative contract in respect of the
Fund. 
 Redemption and Repayment 
 This Security is not subject to redemption at the option of the Company or repayment at the option of the Holder hereof prior to November 30, 2012. This Security is not entitled to any sinking fund.

 Acceleration 
 If an Event of Default, as defined in the Indenture, with respect to this Security shall occur and be continuing, the Redemption Amount (calculated as set forth in the next sentence) of this

  
 8 

 
Security may be declared due and payable in the manner and with the effect provided in the Indenture. The amount payable to the Holder hereof upon any acceleration permitted under the Indenture
will be equal to the Redemption Amount hereof calculated as provided herein as though the date of acceleration was the Calculation Day; provided, however, if such date is not a Trading Day or if a Market Disruption Event has occurred or is
continuing on that day, the Calculation Day will be postponed as provided herein. 
  

 
 Reference is
hereby made to the further provisions of this Security set forth on the reverse hereof, which further provisions shall for all purposes have the same effect as if set forth at this place. 

Unless the certificate of authentication hereon has been executed by the Trustee referred to on the reverse hereof by manual signature or
its duly authorized agent under the Indenture referred to on the reverse hereof by manual signature, this Security shall not be entitled to any benefit under the Indenture or be valid or obligatory for any purpose. 

[The remainder of this page has been left intentionally blank] 

  
 9 

 IN WITNESS WHEREOF, the Company has caused this instrument to be duly executed under its
corporate seal. 
 DATED:
                     
  

							
		 	WELLS FARGO & COMPANY
			
		 	By:	 	  

		 		 	  

		 		 	Its:	 	  

				
	[SEAL]	 		 		 	
			
		 	Attest:	 	  

		 		 	  

		 		 	Its:	 	  

 TRUSTEE’S CERTIFICATE OF AUTHENTICATION 
 This is one of the Securities of the 

series designated therein described 
 in the
within-mentioned Indenture. 
  

			
	 CITIBANK, N.A.,
as Trustee

		
	By:	 	  

		 	Authorized Signature
	
	 OR

	
	 WELLS FARGO BANK, N.A.,
as Authenticating Agent for the Trustee

		
	By:	 	  

		 	Authorized Signature

  
 10 

 [Reverse of Note] 
 WELLS FARGO & COMPANY 
 MEDIUM-TERM NOTE, SERIES K

 Due Nine Months or More From Date of Issue 
 Notes Linked to the iShares MSCI Emerging 
 Markets Index Fund due
November 30, 2012 
 This Security is one of a duly authorized issue of securities of the Company (herein called the
“Securities”), issued and to be issued in one or more series under an indenture dated as of July 21, 1999, as amended or supplemented from time to time (herein called the “Indenture”), between the Company and
Citibank, N.A., as Trustee (herein called the “Trustee,” which term includes any successor trustee under the Indenture), to which Indenture and all indentures supplemental thereto reference is hereby made for a statement of the
respective rights, limitations of rights, duties and immunities thereunder of the Company, the Trustee and the Holders of the Securities, and of the terms upon which the Securities are, and are to be, authenticated and delivered. This Security is
one of the series of the Securities designated as Medium-Term Notes, Series K, of the Company, which series is limited to an aggregate principal amount or face amount, as applicable, of $25,000,000,000 or the equivalent thereof in one or more
foreign or composite currencies. The amount payable on the Securities of this series may be determined by reference to the performance of one or more equity-, commodity- or currency-based indices, exchange traded funds, securities, commodities,
currencies, statistical measures of economic or financial performance, or a basket comprised of two or more of the foregoing, or any other market measure or may bear interest at a fixed rate or a floating rate. The Securities of this series may
mature at different times, be redeemable at different times or not at all, be repayable at the option of the Holder at different times or not at all and be denominated in different currencies. 

Article Sixteen of the Indenture shall not apply to this Security. 

The Securities are issuable only in registered form without coupons and will be either (a) book-entry securities represented by one
or more Global Securities recorded in the book-entry system maintained by the Depositary or (b) certificated securities issued to and registered in the names of, the beneficial owners or their nominees. 

The Company agrees, to the extent permitted by law, not to voluntarily claim the benefits of any laws concerning usurious rates of
interest against a Holder of this Security. 
 Modification and Waivers 

The Indenture permits, with certain exceptions as therein provided, the amendment thereof and the modification of the rights and
obligations of the Company and the rights of the Holders of the Securities of each series to be affected under the Indenture at any time by the Company and the Trustee with the consent of the Holders of a majority in principal amount of the
Securities at the 

  
 11 

 
time Outstanding of all series to be affected, acting together as a class. The Indenture also contains provisions permitting the Holders of a majority in principal amount of the Securities of all
series at the time Outstanding affected by certain provisions of the Indenture, acting together as a class, on behalf of the Holders of all Securities of such series, to waive compliance by the Company with those provisions of the Indenture. Certain
past defaults under the Indenture and their consequences may be waived under the Indenture by the Holders of a majority in principal amount of the Securities of each series at the time Outstanding, on behalf of the Holders of all Securities of such
series. Solely for the purpose of determining whether any consent, waiver, notice or other action or Act to be taken or given by the Holders of Securities pursuant to the Indenture has been given or taken by the Holders of Outstanding Securities in
the requisite aggregate principal amount, the principal amount of this Security will be deemed to be equal to the amount set forth on the face hereof as the “Face Amount” hereof. Any such consent or waiver by the Holder of this Security
shall be conclusive and binding upon such Holder and upon all future Holders of this Security and of any Security issued upon the registration of transfer hereof or in exchange herefor or in lieu hereof, whether or not notation of such consent or
waiver is made upon this Security. 
 Defeasance 
 Section 403 and Article Fifteen of the Indenture and the provisions of clause (ii) of Section 401(1)(B) of the Indenture, relating to defeasance at any time of (a) the entire
indebtedness on this Security and (b) certain restrictive covenants and certain Events of Default, upon compliance by the Company with certain conditions set forth therein, shall not apply to this Security. The remaining provisions of
Section 401 of the Indenture shall apply to this Security. 
 Authorized Denominations 

This Security is issuable only in registered form without coupons in denominations of $1,000 or any amount in excess thereof which is an
integral multiple of $1,000. 
 Registration of Transfer 
 Upon due presentment for registration of transfer of this Security at the office or agency of the Company in the City of Minneapolis, Minnesota, a new Security or Securities of this series, with the same
terms as this Security, in authorized denominations for an equal aggregate Face Amount will be issued to the transferee in exchange herefor, as provided in the Indenture and subject to the limitations provided therein and to the limitations
described below, without charge except for any tax or other governmental charge imposed in connection therewith. 
 This
Security is exchangeable for definitive Securities in registered form only if (x) the Depositary notifies the Company that it is unwilling or unable to continue as Depositary for this Security or if at any time the Depositary ceases to be a
clearing agency registered under the Securities Exchange Act of 1934, as amended, and a successor depositary is not appointed within 90 days after the Company receives such notice or becomes aware of such ineligibility, (y) the Company in
its sole discretion determines that this Security shall be exchangeable for definitive Securities in registered form and notifies the Trustee thereof or (z) an Event of Default with respect to the Securities represented hereby has occurred and
is continuing. If this Security is exchangeable pursuant to the preceding sentence, it shall be exchangeable for definitive Securities in registered form, having the same date of issuance, Stated Maturity Date and other terms and of authorized
denominations aggregating a like amount. 

  
 12 

 This Security may not be transferred except as a whole by the Depositary to a nominee of the
Depositary or by a nominee of the Depositary to the Depositary or another nominee of the Depositary or by the Depositary or any such nominee to a successor of the Depositary or a nominee of such successor. Except as provided above, owners of
beneficial interests in this Global Security will not be entitled to receive physical delivery of Securities in definitive form and will not be considered the Holders hereof for any purpose under the Indenture. 

Prior to due presentment of this Security for registration of transfer, the Company, the Trustee and any agent of the Company or the
Trustee may treat the Person in whose name this Security is registered as the owner hereof for all purposes, whether or not this Security be overdue, and neither the Company, the Trustee nor any such agent shall be affected by notice to the
contrary. 
 Obligation of the Company Absolute 
 No reference herein to the Indenture and no provision of this Security or the Indenture shall alter or impair the obligation of the Company, which is absolute and unconditional, to pay the Redemption
Amount at the times, place and rate, and in the coin or currency, herein prescribed, except as otherwise provided in this Security. 
 No
Personal Recourse 
 No recourse shall be had for the payment of the Redemption Amount, or for any claim based hereon, or
otherwise in respect hereof, or based on or in respect of the Indenture or any indenture supplemental thereto, against any incorporator, stockholder, officer or director, as such, past, present or future, of the Company or any successor corporation,
whether by virtue of any constitution, statute or rule of law, or by the enforcement of any assessment or penalty or otherwise, all such liability being, by the acceptance hereof and as part of the consideration for the issuance hereof, expressly
waived and released. 
 Defined Terms 
 All terms used in this Security which are defined in the Indenture shall have the meanings assigned to them in the Indenture unless otherwise defined in this Security. 

Governing Law 

This Security shall be governed by and construed in accordance with the law of the State of New York, without regard to principles of
conflicts of laws. 

  
 13 

 ABBREVIATIONS 

The following abbreviations, when used in the inscription on the face of this instrument, shall be construed as though they were written
out in full according to applicable laws or regulations: 
  

					
	TEN COM	 	—	 	as tenants in common
			
	TEN ENT	 	—	 	as tenants by the entireties
			
	JT TEN	 	—	 	as joint tenants with right
		 		 	of survivorship and not
		 		 	as tenants in common

  

							
	UNIF GIFT MIN ACT —	  	  
	  	Custodian	  	  

		  	(Cust)	  		  	(Minor)

  

	
	Under Uniform Gifts to Minors Act
	
	  

	(State)

 Additional
abbreviations may also be used though not in the above list. 
 FOR VALUE RECEIVED, the undersigned hereby sell(s) and
transfer(s) unto 
 Please Insert Social Security or 
 Other Identifying Number of Assignee 
  

	
	  

	
	  

	
	  

 (PLEASE PRINT OR TYPE NAME AND ADDRESS INCLUDING POSTAL
ZIP CODE OF ASSIGNEE) 

  
 14 

 the within Security of WELLS FARGO & COMPANY and does hereby irrevocably constitute and appoint
                                        
attorney to transfer the said Security on the books of the Company, with full power of substitution in the premises. 
  

					
	Dated:
                                        
	 		 	
			
		 		 	  

			
		 		 	  

 NOTICE: The signature to this assignment must correspond with the name as written upon the face of the within instrument in every particular, without alteration or enlargement or any change whatever.

  
 15Alcoa Retirement Savings Plan for Bargaining Employees

 Exhibit 4(a) 
 ALCOA SAVINGS PLAN 
 FOR 

BARGAINING EMPLOYEES 
 AS AMENDED AND RESTATED 
 EFFECTIVE JANUARY 1, 2010 

Effective January 1, 2011, the Plan is renamed: 
 Alcoa Retirement Savings Plan for Bargaining Employees 

 ALCOA SAVINGS PLAN FOR BARGAINING EMPLOYEES 

TABLE OF CONTENTS 
  

							
	 SECTION
	  	  	  	 PAGE
	 
			
	DEFINITIONS	  		  	 	2	  
		
	GENERAL PROVISIONS	  	 	13	  
			
	 SECTION 1.
	  	PARTICIPATION	  	 	13	  
	 SECTION 2.
	  	EMPLOYEE SAVINGS	  	 	13	  
	 SECTION 3.
	  	PARTICIPATING EMPLOYER CONTRIBUTIONS	  	 	17	  
	 SECTION 4.
	  	NEGOTIATED DEFERRAL CONTRIBUTIONS	  	 	18	  
	 SECTION 5.
	  	EMPLOYER RETIREMENT INCOME CONTRIBUTIONS	  	 	19	  
	 SECTION 6.
	  	NONFORFEITURE OF PARTICIPATING EMPLOYER AND NEGOTIATED DEFERRAL CONTRIBUTIONS	  	 	20	  
	 SECTION 7.
	  	ROLLOVER CONTRIBUTIONS	  	 	20	  
	 SECTION 8.
	  	INVESTMENTS	  	 	20	  
	 SECTION 9.
	  	TRANSFERS BETWEEN INVESTMENTS	  	 	21	  
	 SECTION 10.
	  	WITHDRAWALS DURING EMPLOYMENT	  	 	22	  
	 SECTION 11.
	  	DISTRIBUTIONS UPON TERMINATION OF EMPLOYMENT	  	 	23	  
	 SECTION 12.
	  	PAYMENT OF DISTRIBUTIONS UPON TERMINATION OF EMPLOYMENT	  	 	25	  
	 SECTION 13.
	  	GENERAL PROVISIONS WITH RESPECT TO WITHDRAWALS	  	 	27	  
	 SECTION 14.
	  	NONASSIGNABILITY	  	 	28	  
	 SECTION 15.
	  	EXTENT OF PARTICIPANT’S RIGHTS	  	 	29	  
	 SECTION 16.
	  	MANAGEMENT OF FUNDS	  	 	29	  
		
	OTHER PROVISIONS OF THE PLAN	  	 	33	  
			
	 SECTION 17.
	  	LOANS	  	 	33	  
	 SECTION 18.
	  	TRUST	  	 	35	  
	 SECTION 19.
	  	ADMINISTRATION	  	 	35	  
	 SECTION 20.
	  	AMENDMENT, MODIFICATION, SUSPENSION OR TERMINATION	  	 	37	  
	 SECTION 21.
	  	ADMINISTRATIVE EXPENSES	  	 	39	  
	 SECTION 22.
	  	SELECTION OF BENEFICIARIES	  	 	39	  
	 SECTION 23.
	  	PARTICIPANT’S STATEMENT	  	 	40	  
	 SECTION 24.
	  	EFFECTIVE DATE OF PLAN	  	 	40	  
	 SECTION 25.
	  	CONSTRUCTION	  	 	40	  

  

			
	 Alcoa Savings Plan for Bargaining Employees
 Amended and Restated Effective as of January 1, 2010
	 	i

							
	APPENDICES & SCHEDULES	  			
			
	 APPENDIX A.
	    	 LIMITATIONS & DISCRIMINATION TESTING
	  	 	41	  
	 APPENDIX B.
	    	 CODE SECTION 415 LIMITATIONS
	  	 	55	  
	 APPENDIX C.
	    	 TOP HEAVY RULES
	  	 	56	  
	 APPENDIX D.
	    	 PLANS MINIMUM DISTRIBUTION REQUIREMENTS
	  	 	58	  
	 SCHEDULE A
	    	 MERGERS, TRANSFERS, AND RESTATEMENTS MERGERS AND RESTATEMENTS
	  	 	62	  
	 SCHEDULE B
	    	 BARGAINING UNITS & EMPLOYER CONTRIBUTIONS
	  			

  

			
	 Alcoa Savings Plan for Bargaining Employees
 Amended and Restated Effective as of January 1, 2010
	 	ii

 ALCOA SAVINGS PLAN FOR BARGAINING EMPLOYEES 

AS AMENDED AND RESTATED 
 EFFECTIVE JANUARY 1, 2010 
 The Alcoa Savings Plan for Bargaining Employees
(the “Bargaining Plan” or “Plan”) is maintained pursuant to various collective bargaining agreements entered into between Alcoa Inc. (herein called “Alcoa”) or its subsidiaries and the duly authorized bargaining
representative for certain bargaining employees to provide said employees with any or all of the benefits described herein. The Bargaining Plan is a defined contribution, individual account plan which incorporates an Internal Revenue Code
Section 401(k) wage reduction arrangement, intending to qualify under Section 401(a) of the Internal Revenue Code, for the exclusive benefit of its eligible employees. 

Prior to January 1, 1993, the Bargaining Plan was known as the Alcoa Pre-Tax Savings Plan for Bargaining Employees. It had been
initially adopted effective July 3, 1986, and was subsequently amended and restated from time to time thereafter, as described in Schedule A. 
 The Bargaining Plan is the survivor plan as the result of mergers with several Subsidiaries’ plans. Schedule A attached hereto contains the details and provisions related to such mergers. 

Effective January 1, 2002, the Alcoa Stock Fund was replaced with an employee stock ownership plan, within the meaning of
Section 4975(e) of the Code. The assets held in the ESOP must be invested primarily in employer securities as defined in Code Section 409(l). 
 Effective as of January 1, 2010, the Bargaining Plan is amended and restated again to incorporate provisions of the Economic Growth and Tax Relief Reconciliation Act of 2001 and as amended by the Job
Creation and Worker Assistance Act of 2002, the Pension Protection Act of 2006, the Worker, Retiree, and Employer Recovery Act of 2008 (“WRERA”), and is intended as good faith compliance with the requirements of Heroes Earnings Assistance
and Relief Tax Act of 2008 (“HEART”), to be construed in accordance with the guidance issued thereunder. 
 Effective
January 1, 2011, the Plan is renamed the Alcoa Retirement Savings Plan for Bargaining Employees. 

  

			
	 Alcoa Savings Plan for Bargaining Employees
 Amended and Restated Effective as of January 1, 2010
	 	

 1 

 DEFINITIONS 
 For the purpose of this Plan, unless a different meaning is plainly required by the context: 
 AFFILIATE means any non-corporate business entity or corporate business entity without voting stock, as such, which Alcoa and/or one or more Subsidiaries control in fact. 

AFTER-TAX SAVINGS means such portions of the total amounts contributed to the Plan by a Participant in accordance with
Section 2 that are not accorded favorable tax treatment under Section 401(k) of the Code, but not including contributions made by a Participant in excess of the annual limit on 401(k) contributions under Code Section 402(g) or in
excess of the “average deferral percentage limit” of Section 401(k)(3) of the Code. 
 ALCOA means Alcoa
Inc. 
 ALCOA STOCK FUND means the ESOP as described in Section 16(e), which became effective January 1, 2002.

 AUTOMATIC ENROLLMENT or AUTOMATICALLY ENROLLED means the automatic default enrollment in the Plan described in
Sections 1(b) and 2(c) and applicable to Eligible Employees who do not opt out of the Plan. 
 AUTOMATIC PRE-TAX RATE
ESCALATION means the feature that is effective with Automatic Enrollment or that may be elected by a Participant, in which the rate of Payroll Deduction for Pre-Tax Savings is increased until a target Payroll Deduction rate is reached. The
Automatic Pre-Tax Rate Escalation will increase effective April 1 of each year. 
 AUTOMATIC REBALANCING means the
feature described in Section 8(d). 
 BARGAINING AGREEMENTS means the collective bargaining agreements entered into
between a Participating Employer and one or more of the unions designated in Schedule B. 
 BENEFICIARY means the
recipient or recipients designated by a Participant, in accordance with Section 22 of the Plan, to receive benefits in the event of the Participant’s death. 
 BENEFITS MANAGEMENT COMMITTEE or COMMITTEE means the administrative committee of one or more persons appointed by the Board that interprets and administers the Plan in accordance with
Section 19. 

  

			
	 Alcoa Savings Plan for Bargaining Employees
 Amended and Restated Effective as of January 1, 2010
	 	

 2 

 BOARD means the Board of Directors of Alcoa. 

BROKERAGE ACCOUNT means the investment option whereby a Participant may invest and personally manage investments outside the Core
Funds as described in Section 16(h). 
 BUSINESS DAY means any day on which the Plan Administrator, Designee and New York
Stock Exchange is open for business. 
 CODE means the Internal Revenue Code of 1986, as amended. 

COLA SAVINGS means the cost of living amounts determined in accordance with all hours worked by the participant as of the dates
such amounts are calculated and allocated to a Participant’s Pre-Tax Savings account for the next Payroll Period in which such amounts would have been paid to the Participant during a Plan Year, in lieu of the Participant receiving said amounts
as wages. Such allocations shall be made in accordance with the terms and conditions of the Bargaining Agreements entered into between Alcoa and the Aluminum Workers, the Massena Office Workers, and the Davenport IBEW. Cola Savings shall be accorded
favorable tax treatment under Section 401(k) of the Code. 
 COMPANY STOCK means common stock of Alcoa and any
substituted security under Section 16. 
 CONTINUOUS SERVICE means, except as modified by the balance of this
definition with respect to certain Participant populations, the period of continuous employment with Alcoa, a Subsidiary or Affiliate, either as a salaried employee or as an hourly-rated employee, commencing with the Participant’s Employment
Commencement Date or Reemployment Commencement Date. Continuous Service terminates on the Participant’s Severance from Service Date. Continuous Service upon reemployment does not include any Continuous Service accrued prior to a termination of
Continuous Service, except as follows: 
 A Participant who incurs a Severance from Service Date and thereafter has a
Reemployment Commencement Date, will have his or her Continuous Service on the Severance from Service Date reinstated if (1) the period between his or her Severance from Service Date and his or her Reemployment Commencement Date is less than
the greater of (a) five years or (b) the aggregate number of years of Continuous Service earned before the Severance from Service Date, or (2) the Severance from Service Date occurred due to a Nonforfeitable Circumstance. 

CORE FUND means any investment vehicle (including the Alcoa Stock Fund and Target Maturity Funds) for Pre-Tax Savings, After-Tax
Savings, Participating Employer Contributions, Negotiated Deferral Contributions, Restricted Discretionary Contributions, 

  

			
	 Alcoa Savings Plan for Bargaining Employees
 Amended and Restated Effective as of January 1, 2010
	 	

 3 

 
Employer Retirement Income Contributions, or Retiree Medical Savings Contributions, but excluding the Brokerage Account. The Committee will determine the Core Funds, and may make changes to the
composition of the funds from time to time. 
 CURRENT MARKET VALUE means: 

(a) with respect to any investment allocated to the accounts of any Participant in an Investment Fund established under the Plan
(other than the Fixed Income Fund and the Alcoa Stock Fund), the value of any such investment as of a specified date, and 

(b) with respect to any investment allocated to the accounts of any Participant in the Alcoa Stock Fund and the Fixed Income
Fund, the unitized value of the securities and cash of the investment in the applicable Fund as of a specified date, valued in accordance with a procedure adopted by the investment manager for the fund and acceptable to the Benefits
Management Committee. 
 Effective January 1, 2011, Current Market Value means with respect to any investment allocated to the accounts of
any Participant in the Core Funds, the unitized value of the securities and cash of the investment in the applicable Fund as of a specified date, less any fees provided for in Section 21, valued in accordance with a procedure adopted by
the investment manager for the Investment Fund and acceptable to the Benefits Management Committee. 
 DESIGNEE means
such entity as may be chosen from time to time by the Plan Administrator and approved by the Benefits Management Committee to handle certain specified administration functions of the Plan. 

EFFECTIVE DATE with respect to a distribution has the meaning prescribed in Section 13, with respect to a transfer has the
meaning prescribed in Section 9 and with respect to a qualified domestic relations order has the meaning prescribed in Section 14. 
 ELIGIBLE COMPENSATION means: (i) the regular base salary and if applicable, the base salary adjustment (where commission payments constitute all or part of an employee’s remuneration, the
commissions actually paid as remuneration during a regular pay period will be used to determine the Eligible Compensation for such employee); (ii) the regular hourly wages and if applicable: cash cola, regular vacation pay, witness pay, holiday
advance pay (for a holiday not worked), bereavement pay, shift differential, jury pay, job upgrades, schedule premium, income adjustments, and wage adjustments which are payable during such periods as the employee is an Eligible Employee as
determined by the Participating Employers. In no event may the amount of Eligible Compensation for any Participant during any Plan Year, for any purposes under this Plan, exceed $245,000, as adjusted for any Plan Year for cost-of-living increases in
accordance with Section 401(a)(17)(B) of the Code applicable to that calendar year. 

  

			
	 Alcoa Savings Plan for Bargaining Employees
 Amended and Restated Effective as of January 1, 2010
	 	

 4 

 In addition to the forgoing, for purposes of allocating Employer Retirement Income
Contributions as indicated in Schedule B, Eligible Compensation will include any Variable Compensation Awards or incentive compensation payable during such periods as the employee is an Eligible Employee as determined by the Participating Employers.

 ELIGIBLE EMPLOYEE means any person who is a resident or citizen of the U.S., employed by a Participating Employer on a
full-time or part-time basis, and who receives regular compensation in the form of: (1) a weekly, semimonthly or monthly salary, (2) periodic commissions, (3) an hourly wage, and who meets all of the following conditions: 

(a) Is in a unit or group of employees covered by an applicable Bargaining Agreement which provides for participation in the Plan;
or 
 (b) Is not in a group of employees excluded from coverage under the Plan by the Benefits Management Committee, or
the appropriate governing body of a Participating Employer, which is uniform in application to all employees similarly situated. 
 (c) Is in a group of employees which is accorded coverage under the Plan by a resolution adopted by the Benefits Management Committee or Alcoa which is uniform in application to all employees
similarly situated. Schedule B provides a list of such hourly employees. 
 Eligible Employees are designated in Schedule B as
individuals employed by a participating Company (Company Code), at a specified location (Location Code), and included in a bargaining unit (Union Code) as indicated in Schedule B. A person employed as an expatriate at a location outside the United
States will be deemed to be employed at the Company and location from which he or she is transferred. 
 A person who works at
least 50 percent but less than 100 percent of the regular work schedule for the location where he or she is employed is employed on a part-time basis. A person who does not work on a regular schedule, or works less than fifty percent of the regular
hours for the location where he or she is employed, or works fifty percent or more of the regular hours for the location but is hired for a specified period of time not to exceed twelve month, is employed on a temporary basis. A person employed by a
Participating Employer on a temporary basis is subject to the above described terms and conditions and in addition must have at least one year of Continuous Service to become an Eligible Employee. 

The following will in no case be Eligible Employees: agency, leased, contract employees and other individuals who are not on the payroll
of the Company, as determined by the Company, without regard to any court, or agency decision determining common-law 

  

			
	 Alcoa Savings Plan for Bargaining Employees
 Amended and Restated Effective as of January 1, 2010
	 	

 5 

 
employment status. A “leased employee” of a Participating Employer is excluded from participation in the Plan. A “leased employee” means any person who is not an employee of
any Participating Employer and who provides services if: 
 a) such services are provided pursuant to an agreement between the
recipient Participating Employer and any other person or a leasing organization, 
 b) such person has performed such services
for the recipient Participating Employer on a substantially full-time basis for a period of at least one year, and 
 c) such
services are performed under the primary direction or control of the recipient Participating Employer, 
 or as otherwise defined in
Section 414(n) of the Code. 
 Any former leased employee, upon becoming an Eligible Employee, will receive Continuous
Service credit for all prior service performed with the recipient Participating Employer as a leased employee prior to becoming an Eligible Employee. 
 EMPLOYER RETIREMENT INCOME CONTRIBUTIONS (ERIC) means an amount equal to the percentage of Eligible Compensation specified in Section 5 that is contributed to Eligible Employees hired or
rehired on or after March 1, 2006, or as indicated in Schedule B, to the Eligible Employees of a specified location without regard to date of hire or rehire. 
 EMPLOYMENT COMMENCEMENT DATE means the date on which an Eligible Employee is first employed by and performs an Hour of Service for Alcoa, a Subsidiary or an Affiliate on a full-time or part-time
basis. 
 ERISA means the Employee Retirement Income Security Act of 1974 as amended. 

ESOP or EMPLOYEE STOCK OWNERSHIP PLAN means the Alcoa Stock Fund as described in Section 16(e). 

FINANCIAL HARDSHIP means an immediate and heavy financial need which a Participant is not able to meet from other reasonably
available resources. An immediate and heavy financial need includes: 
 (a) Extraordinary medical expenses incurred by
the Participant, the Participant’s spouse, or dependents of the Participant; 
 (b) Purchase, excluding mortgage
payments, of a principal residence for the Participant; 

  

			
	 Alcoa Savings Plan for Bargaining Employees
 Amended and Restated Effective as of January 1, 2010
	 	

 6 

 (c) Payment of tuition for the next year of post-secondary education for the
Participant, his or her spouse, children or dependents; 
 (d) Expenses necessary to prevent eviction of the Participant
from his principal residence, or foreclosure on the mortgage of the Participant’s principal residence; 
 (e)
Funeral expenses of a family member; and 
 (f) All other expenses that the Internal Revenue Service will accept as
an immediate and heavy financial need. 
 A withdrawal will be deemed to be necessary to satisfy an immediate and
heavy financial need of a Participant if all of the following requirements are satisfied: 
 (i) The
withdrawal is not in excess of the amount of the immediate and heavy financial need (including taxes on such withdrawal) of the Participant, 
 (ii) The Participant has obtained all distributions, other than hardship withdrawals, and all nontaxable loans currently available under all plans maintained by the Participating Employer (unless
such a loan would contribute to the hardship), 
 (iii) The Plan, and all other qualified and
non-qualified plans of deferred compensation maintained by all Participating Employers (other than health and welfare or contributory defined benefit plans), provide that the Participant’s Savings will be suspended for at least 6 months after
receipt of the hardship withdrawal, and 
 (iv) The Participant may not contribute Pre-Tax Savings to the
Plan or make similar contributions to other plans maintained by the Participating Employer for the following taxable year in excess of the applicable limit under Section 402(g) of the Code for the following taxable year minus the
Participant’s Pre-Tax Savings for the taxable year of the hardship withdrawal. 
 Based upon the foregoing provisions, the Designee
determines whether or not a Participant has incurred a Financial Hardship. 
 HOUR OF SERVICE means: 

(a) Each hour for which an employee is paid or entitled to payment for the performance of duties for Alcoa, a Subsidiary or
Affiliate; 

  

			
	 Alcoa Savings Plan for Bargaining Employees
 Amended and Restated Effective as of January 1, 2010
	 	

 7 

 (b) Each hour for which an Employee is paid or entitled to payment by Alcoa, a
Subsidiary or Affiliate on account of a period during which no duties are performed, whether or not the employment relationship has terminated, due to vacation, holiday, illness, incapacity (including disability), layoff, jury duty, military duty,
or leave of absence; and 
 (c) Each hour for which back pay, irrespective of mitigation of damages, is either awarded or
agreed to by Alcoa, a Subsidiary or Affiliate excluding any hour credited under (a) or (b) above, which is credited to the computation period or periods to which the award, agreement or payment pertains, rather than to the computation
period in which the award, agreement or payment is made. 
 INVESTMENT FUND means any Core Fund and the Brokerage
Account. 
 KEY EMPLOYEE means any employee or former employee (including any deceased employee) who at any time during
the Plan Year that includes the determination date, as defined in Section 416(g)(4)(c) of the Code, was i) an officer of a Participating Employer having annual compensation greater than $130,000 (as adjusted under Section 416(i)(1) of the
Code, ii) a five percent owner of the Participating Employer, or iii) a one percent owner of a Participating Employer having annual compensation of more than $150,000. For purposes of this paragraph, compensation means compensation as defined in
Section 415(c)(3) of the Code, but includes amounts contributed by the Participating Employer pursuant to a salary reduction agreement which are excludable from the Participant’s gross income under Section 125, 402(a),
Section 401(h), Section 401(b), and Section 132(f)(4). 
 LAYOFF or LAID-OFF means the absence from
employment due to a reduction of a Participating Employer’s work force due to lack of work, where it is intended that the Participant will be subject to recall. A Layoff ends on the earlier of the effective date of a recall or the date the
Participant’s service terminates, and such Layoff has continued for at least twenty-four months calculated from the first day of the Lay Off. 
 NEGOTIATED DEFERRAL CONTRIBUTIONS means amounts contributed by a Participating Employer as determined under Section 4(a). 

NONFORFEITABLE CIRCUMSTANCES means: 
 (a) Permanent Shutdown; or 
 (b) Total and Permanent Disability; or

 (c) a Participant’s mental or physical condition that prevents such Participant from performing satisfactorily
his or her position with a Participating Employer, and for 

  

			
	 Alcoa Savings Plan for Bargaining Employees
 Amended and Restated Effective as of January 1, 2010
	 	

 8 

 
which a qualified physician designated by the Benefits Management Committee certifies that, in such physician’s opinion, the Participant’s state of health is such that the Participant
should not be burdened with the responsibilities of such position but is not totally and permanently disabled; or 
 (d)
a Participant has been Laid Off, and such Layoff has continued for at least twenty-four months calculated from the first day of the Lay Off; or 
 (e) a Participant has been placed on Permanent Layoff status, in which event such status is deemed to be a termination of Continuous Service and of Eligible Employee status for purposes of the
Plan, effective on the first day of the Permanent Layoff; or 
 (f) any termination of service or release instituted by a
Participating Employer (including termination due to the sale of a Subsidiary) which is not due to a discharge, dismissal, Layoff, Permanent Layoff or termination upon Permanent Shutdown; or 

(g) a Participant has attained three years of Continuous Service; or 

(h) a Participant is eligible for Retirement; or 
 (i) a Participant’s death. 
 Effective January 1, 2011, all
Employer Contributions and all Participant accounts become fully vested and the term “Nonforfeitable Circumstances” ceases to apply to the Plan. 
 NORMAL RETIREMENT AGE means: 
 (a) on and after January 1,
2011, the time a Participant attains age 65, or 
 (b) prior to January 1, 2011, the time a Participant attains age
65 and completes three years of Continuous Service. 
 PARTICIPANT means: 

(a) an Eligible Employee who has elected to participate in the Plan in accordance with the provisions of Section 1, who
receives Employer Retirement Income Contributions, Restricted Discretionary Contributions, Negotiated Deferral Contributions, or Retiree Medical Savings Contributions, or who is Automatically Enrolled in the Plan. Such a person continues as a
Participant so long as he or she has an account balance in the Plan. Notwithstanding the foregoing, a contractor, agency employee, temporary employee or “leased employee” as defined in Section 414(n) of the Code is not a Participant
under the Plan, or 

  

			
	 Alcoa Savings Plan for Bargaining Employees
 Amended and Restated Effective as of January 1, 2010
	 	

 9 

 (b) an Eligible Employee who is employed with a Participating Employer on
December 31 of any Plan Year where such Participating Employer has elected to make a Negotiated Deferral Contribution or Restricted Discretionary Contribution for that Plan Year. 

PARTICIPATING EMPLOYER means Alcoa, except as specified hereafter, and any other entity in which Alcoa or one or more Subsidiaries
or Affiliates have an ownership interest, and that is authorized by Alcoa to participate in the Plan and which adopts the Plan by proper action of its board of directors or other governing body, provided that each said entity agrees to reimburse
Alcoa from time to time upon demand for its proper portion of the expenses and contributions required to carry out the provisions hereof and of the agreement under which the assets of the Plan are held or managed. Schedule B lists applicable
locations of Participating Employers. 
 PARTICIPATING EMPLOYER CONTRIBUTIONS means amounts contributed by a
Participating Employer as determined under Section 3. 
 PARTICIPATION DATE means the date on which an Eligible
Employee commences participation in the Plan. 
 PAYROLL DEDUCTIONS means the Pre-Tax Savings and After-Tax Savings based
on a reduction of the Participants’ Eligible Compensation for the applicable Payroll Period. 
 PAYROLL PERIOD means
the regularly scheduled payroll cycles in which a Participant earns Eligible Compensation. 
 PERMANENT LAYOFF means an
absence from employment due to a reduction of the work force by a Participating Employer due to lack of work, where it is intended that the Participant will not be subject to recall. A Participant’s Continuous Service for purposes of the Plan
will be terminated on the first day of Permanent Layoff. 
 PERMANENT SHUTDOWN means the permanent shutdown, as
determined by a Participating Employer, of a plant, department or substantial portion thereof, of a Participating Employer at which a Participant who is affected thereby is employed. 

PLAN means the Alcoa Savings Plan for Bargaining Employees as Amended and Restated effective January 1, 2010, and as may be
amended from time to time. Effective January 1, 2011, the Plan is renamed the Alcoa Retirement Savings Plan for Bargaining Employees. 
 PLAN ADMINISTRATOR means Alcoa. 

  

			
	 Alcoa Savings Plan for Bargaining Employees
 Amended and Restated Effective as of January 1, 2010
	 	

 10 

 PLAN YEAR means the calendar year. 

PRE-TAX CATCH-UP CONTRIBUTIONS means contributions permitted under Section 414(v) of the Code, as described in
Section 2(k) of the Plan. 
 PRE-TAX SAVINGS means the amount by which a Participant has elected to reduce his or
her Eligible Compensation and defer the receipt thereof in accordance with Section 2, and the contribution of the said amount to the Plan, or an amount by which a Participant’s Eligible Compensation is deferred and contributed to the Plan
pursuant to Automatic Enrollment,. 
 PROPERLY RECEIVED means any request to participate, to change participation in the
Plan, for suspension of Payroll Deductions, to discontinue Automatic Pre-Tax Rate Escalation, for a transfer between investments in accordance with Sections 8 or 9, to discontinue Automatic Investment Rebalancing, or a for a withdrawal in accordance
with either Section 10 or 11, or submission of a beneficiary designation, consent or revocation in accordance with Section 22, made to the Plan Administrator or its Designee in a manner designated by the Plan in accordance with uniform
rules established by the Plan Administrator. 
 QUALIFIED DEFAULT INVESTMENT ALTERNATIVE or QDIA means the Targeted
Maturity Funds to which the Plan may direct the assets of a Participant’s account in the absence of Participant investment direction. Each Participant’s account will be invested in the appropriate Targeted Maturity Fund based on the
Participant’s year of birth. 
 REEMPLOYMENT COMMENCEMENT DATE means the date on which a Participant is first
reemployed by a Participating Employer following a Severance from Service Date. 
 RESTRICTED DISCRETIONARY CONTRIBUTIONS
means amounts contributed by a Participating Employer as determined under Section 4(b). 
 RETIREE MEDICAL SAVINGS
CONTRIBUTIONS means amounts contributed by a Participating Employer as determined under Section 4(c). 

RETIREMENT means termination of Continuous Service with rights to a pension other than a deferred vested pension benefit under a
retirement plan of Alcoa and/or a Subsidiary and/or an Affiliate, termination of Continuous Service upon or after attainment of age 55 and completion of 10 years of Continuous Service, or Normal Retirement Age. 

ROLLOVER CONTRIBUTION means an eligible rollover distribution as described in Section 402(c)(4) of the Code, or a direct
transfer of an eligible rollover distribution as described in Section 401(a)(31) of the Code (“Direct Rollover”) which is transferred to the Plan pursuant to Section 7. 

  

			
	 Alcoa Savings Plan for Bargaining Employees
 Amended and Restated Effective as of January 1, 2010
	 	

 11 

 SAVINGS means the total amount of Pre-Tax Savings and After-Tax Savings contributed
to the Plan in accordance with Section 2. 
 SEVERANCE FROM SERVICE DATE means the date Continuous Service
terminates and is the earliest of the date the Eligible Employee quits, retires, is discharged (including Permanent Layoffs), or dies, or the first anniversary of the first date he or she is absent from work for any other reason. Notwithstanding the
foregoing, an employee will not be deemed to have terminated from Continuous Service until the second anniversary of the employee’s absence, if the absence is due to the pregnancy of the Eligible Employee, the birth of a child of the Eligible
Employee or the placement of a child with the Eligible Employee in connection with adoption proceedings, or for purposes of caring for that child for a period beginning immediately following such birth or placement. The period between the first
anniversary and second anniversary of the first day of absence will not constitute Continuous Service. Severance from Service Date will also mean the date on which a participant ceases employment with Alcoa or a Subsidiary in connection with a sale
of assets or interest in a Participating Employer and commences employment with the purchaser of such assets or interest, provided there is no transfer to the purchaser of Plan assets and liabilities relating to such participant. 

SUBSIDIARY means a corporation, a majority of whose voting stock is owned or controlled by Alcoa and/or one or more other
Subsidiaries. 
 TARGETED MATURITY FUNDS means the investment vehicles that are pre-mixed funds consisting of varying
asset allocations that follow an investment strategy based on a targeted retirement date. Targeted Maturity Funds are Core Funds. 
 TOTAL AND PERMANENT DISABILITY means disability by injury or disease which, on the basis of medical evidence satisfactory to a medical doctor chosen by the Benefits Management Committee, prevents
the employee from engaging in any employment with Alcoa, a Subsidiary or Affiliate suitable to his or her training and experience and that will be permanent and continuous during the remainder of the employee’s life, and the employee is not
otherwise employed by a Alcoa, a Subsidiary or Affiliate. 
 TRUSTEE means the Trustee or Trustees appointed by the Board
in accordance with the provisions of Section 18. 
 U.S. means the United States of America. 

  

			
	 Alcoa Savings Plan for Bargaining Employees
 Amended and Restated Effective as of January 1, 2010
	 	

 12 

 VARIABLE COMPENSATION AWARDS means performance pay, profit sharing or gain sharing
awards or other variable compensation awards as determined by the Participating Employer and approved by the Plan Administrator. 
 YEAR OF PLAN PARTICIPATION means the twelve month period, and anniversaries thereof, extending from the first day a Participant begins participation in the Plan, provided that the Participant has
maintained an account in the Plan for the full twelve month period. 
 GENERAL PROVISIONS 

SECTION 1. PARTICIPATION 

An Eligible Employee participates in the Plan: 
 (a) by submitting an application or request for participation that is Properly Received, or by receiving Negotiated Deferral Contributions, Restricted Discretionary Contributions, Participating
Employer Contributions, or Employer Retirement Income Contributions; or 
 (b) is Automatically Enrolled sixty days
following Employment Commencement Date or Reemployment Commencement Date, or after an employee employed on a temporary basis becomes an Eligible Employee. 
 SECTION 2. EMPLOYEE SAVINGS 
 (a) Prior to January 1, 2011, an
Eligible Employee may elect to pay into the Plan through Payroll Deductions properly authorized by such employee, a whole percentage of his or her Eligible Compensation as Pre-Tax Savings or After-Tax Savings. An Eligible Employee’s designated
percentage of Pre-Tax Savings may be one through sixteen percent, and After-Tax Savings may be one through sixteen percent, the aggregate of which cannot be greater than sixteen percent. All Pre-Tax and After-Tax Savings are nonforfeitable.

 Effective January 1, 2011, the designated percentage of Pre-Tax Savings of any Eligible Employee may be one through
twenty-five percent, and After-Tax Savings may be one through ten percent, the aggregate of which cannot be greater than twenty-five percent. 
 Pursuant to the terms of a Bargaining Agreement, an Eligible Employee may elect to contribute as Pre-Tax Savings any lump sum ratification bonus payable to such Participant, up to a uniform dollar amount
or whole or partial percentage specified in such Bargaining Agreement. Notwithstanding the foregoing, any such deferrals will not be eligible for Participating Employer Contributions. 

  

			
	 Alcoa Savings Plan for Bargaining Employees
 Amended and Restated Effective as of January 1, 2010
	 	

 13 

 Effective July 1, 2010, pursuant to the terms of the 2010 collective bargaining
agreement between the Company and the United Steelworkers ratified on June 24, 2010, Participants at the Alcoa Inc. locations listed below who have submitted a timely election may contribute as Pre-Tax Savings any lump sum ratification bonus
payable to such Participant or the lump sum amount payable in lieu of wage increases for the years 2010 and 2011, up to a uniform amount specified in such Agreement. 
  

					
	Location (LOC)	  	Location Description	  	Union Code
			
	 BAD
	  	Badin, North Carolina	  	192
	 DAV
	  	Davenport, Iowa	  	293
	 WAR
	  	Warrick (Newburgh, In)	  	292

 Such deferrals will not be eligible
for Participating Employer Contributions. 
 (b) An Eligible Employee subject to Automatic Enrollment will be subject to
automatic Payroll Deductions equal to three percent of Eligible Compensation for any applicable payroll period, which will be contributed to the Plan as Pre-Tax Savings. Absent the Participant’s election of investment funds, such Pre-Tax
Savings will be deposited into the appropriate QDIA, as described in Section 8(a). 
 (c) Payroll Deductions for
Pre-Tax Savings made pursuant to Automatic Enrollment are subject to Automatic Pre-Tax Rate Escalation whereby, providing the Participant has participated in the Plan at least ninety days, the Participant’s Pre-Tax Savings rate will be
increased by one percent on each April 1 after his or her Participation Date until the Pre-Tax Savings rate attains a target rate of six percent of Eligible Compensation. A Participant may change the percentage rate in whole percentages up to
the maximum permitted by the Plan or opt out of Automatic Pre-Tax Rate Escalation at any time in a manner designated by the Plan Administrator that is Properly Received. 
 Any Participant may elect to begin or end Automatic Pre-Tax Savings Rate Escalation at any time in a manner designated by the Plan that is Properly Received. An election to begin Automatic Pre-Tax Saving
Rate Escalation shall designate a beginning Pre-Tax Savings rate, a target rate up to the maximum permitted by the Plan, and an annual rate (in whole percentages) by which the Pre-Tax rate increases until the target rate is attained. 

(d) The Participating Employer will contribute and allocate to the account of each Participant an amount equivalent to the
Participant’s voluntary election that the Participating Employer contribute a portion of his or her performance pay, profit sharing or gain sharing awards or other variable compensation awards as determined by the Participating Employer which
is approved by the Plan Administrator (Variable Compensation Awards) less applicable taxes, for any Plan Year to the Plan. The portion of 

  

			
	 Alcoa Savings Plan for Bargaining Employees
 Amended and Restated Effective as of January 1, 2010
	 	

 14 

 
his or her Variable Compensation Award which is contributed to the Plan is equal to the percentage of such Award using the Participant’s Pre-Tax Savings contribution percentage. All such
Participating Employer Contributions equivalent to a percentage of a Variable Compensation Award are allocated as Pre-Tax Savings, subject to the other terms and conditions under the Plan which affect Pre-Tax Savings, and are nonforfeitable upon
contribution to the Plan. Prior to January 1, 2011, an Eligible Employee may elect to pay into the Plan a whole percentage in ten percent increments up to a maximum of fifty percent of his or her Variable Compensation Award, not to exceed a
dollar amount of $1,500 for any Plan. 
 Effective January 1, 2011, an Eligible Employee may no longer elect to pay into
the Plan a percentage of his or her Variable Compensation Award. 
 (e) Any employee contributions which have been
contributed to a Participant’s account under a qualified defined contribution plan of a Participating Employer which has been merged with this Plan, are credited to the Participant as Pre-Tax and After-Tax Savings Accounts, as applicable, as
determined by the Plan Administrator, and thereafter be treated like Pre-Tax and After-Tax Savings with respect to withdrawals, loans, and investment options under the Plan. Any protected optional form of benefits provided under said qualified
defined contribution plan will be maintained under the Plan. 
 (f) All Participating Employer Contributions and
Negotiated Deferral Contributions, Restricted Discretionary Contributions, Employer Retirement Income Contributions, and Retiree Medical Savings Contributions are irrevocable, except that any such contribution which was made by a mistake of fact or
conditioned upon qualification of the Plan or any amendment thereof under Section 401 of the Code or upon the deductibility of the contribution under Section 404 of the Code, will be returned to the Participating Employer within one year
after the payment of the contribution made by mistake, the denial of the qualification or the disallowance of the deduction (to the extent disallowed), whichever is applicable. 

(g) A Participant may change his or her election for Payroll Deductions, effective for the first full Payroll Period following the
date that such request is Properly Received. 
 (h) A Participant may direct that Payroll Deductions for Savings be
discontinued beginning with the first full Payroll Period following the date that such direction is Properly Received. A Participant may direct that such deductions be resumed beginning with the first full Payroll Period following the date that such
direction is Properly Received, except as provided in the definition of Financial Hardship. 
 (i) Payroll Deductions are
paid to the Trustee as soon as practicable. 

  

			
	 Alcoa Savings Plan for Bargaining Employees
 Amended and Restated Effective as of January 1, 2010
	 	

 15 

 (j) Additional limitations on Savings, Participating Employer Contributions,
Negotiated Deferral Contributions and Restricted Discretionary Contributions are provided in Appendices A, B and C. Notwithstanding the foregoing, in the event it is determined by the Benefits Management Committee or its designee that for any
particular month the maximum percentage of Eligible Compensation which a Participant may elect to pay into the Plan as Pre-Tax Savings must be reduced so as to prevent the actual percentage of Pre-Tax Savings for Participants who are Highly
Compensated Employees from exceeding the elected percentage of Pre-Tax Savings of all other Participants, pursuant to the limitations in the Appendices, the maximum percentage of Pre-Tax Savings for said Highly Compensated Employees may be reduced,
for any particular Month to the extent deemed necessary by the Benefits Management Committee or its designee. The said Participants’ previously elected percentage of After-Tax Savings will not be affected in any manner by a reduction of the
maximum percentage of Pre-Tax Savings in accordance with the foregoing. 
 (k) An Eligible Employee who meets the
requirements listed below may make an election for a Plan Year to defer extra Pre-Tax Catch-Up Contributions in an amount that equals an annual maximum amount of $5,000, or such other amount adjusted for cost-of-living increases as may be provided
by the Secretary of the Treasury pursuant to Section 414(v) (2) (C) of the Code. Eligible Employees who meet the requirements are individuals who i) have attained 50 or will attain age 50 during the applicable Plan Year, ii) prior to
January 1, 2011 are contributing the maximum percentage of Pre-Tax Savings permitted under the Plan, or on or after January 1, 2011 are contributing no less than six percent of Eligible Compensation in Pre-Tax Savings; and iii) have
submitted an election to make Pre-Tax Catch-Up Contributions for applicable Plan Year. 
 In the case where a Participant is
awarded back wages pursuant to a settlement or arbitration agreement by which the Participant is to be “made whole,” in the case of an individual who is eligible to make Pre-Tax Catch-Up Contributions, the Participant may defer any portion
of the awarded back wages up to the annual maximum amount of the Pre-Tax Catch-Up Contribution for the current Plan Year, provided an election to defer such amount is submitted prior to the date payment of the awarded back wages is made. 

(l) In the case where a Participant is awarded back wages pursuant to a settlement or arbitration agreement by which the
Participant is to be “made whole” with respect to such award, the Participant must contribute Pre-Tax Savings attributable to the back wages or portion of back wages awarded pertaining to the current Plan Year only (“Corrective
Contributions”). The Corrective Contributions will be based on the percentage of Compensation for Pre-Tax Savings designated by the Participant in an election in effect, or defaulted to pursuant to section 2(b) and 2(c), on the date of the
Participant’s termination that preceded the period for which the award has been granted. Notwithstanding the foregoing, contributions of Corrective Contributions may not cause the Participant’s Eligible Compensation to exceed the
limitation on compensation imposed by Section 401(a)(17) of the Code, or the limitations described in Appendices A or B. 

  

			
	 Alcoa Savings Plan for Bargaining Employees
 Amended and Restated Effective as of January 1, 2010
	 	

 16 

 (m) A Participant who’s compensation is suspended due to an absence from
employment due to military leave protected by Uniformed Services Employment and Reemployment Rights Act of 1994 (“USERRA”), may upon his or her return to employment contribute “make up” Pre-Tax Contributions equal to the amount
he or she would have contributed except for the absence based upon the Participant’s election on file. Such make up contributions must be paid to the Plan during a period that does not exceed the lesser of three times the length of time of the
military leave or five years, commencing from the date employment is resumed. 
 SECTION 3. PARTICIPATING EMPLOYER CONTRIBUTIONS (MATCH)

 Participating Employer Contributions will be allocated under the Plan to the account of those Participants for whom
Pre-Tax Savings are paid into the Plan for such Payroll Period in accordance with Section 2, where the applicable Bargaining Agreement provides. The contributions will be the specific amount for each dollar of the Participant’s Eligible
Compensation he or she contributes to the Plan as Pre-Tax Savings up to six percent of the Participant’s Eligible Compensation. Schedule B provides a list of Participating Employers and Participating Employer Contributions. Participating
Employer Contributions will be allocated to the account of Participants to whom Corrective Contributions have been made for the current Plan Year as described in Section 2(l) above. 

Subject to the provisions of Section 6 relating to the application of forfeitures of Participating Employer Contributions, the
amount of all such Contributions are contributed on a Payroll Period basis by the Participating Employer out of current income or accumulated earnings. All Participating Employer Contributions are invested in the Alcoa Stock Fund. 

All employer contributions which have been contributed to a Participant’s account under a qualified defined contribution plan of a
Participating Employer which has been merged with this Plan, are credited to the Participant as Participating Employer Contributions and thereafter are treated like Participating Employer Contributions with respect to withdrawals, loans, and
investment options under the Plan. Any protected optional form of benefits provided under said merged qualified defined contribution plan will be maintained under the Plan. 

  

			
	 Alcoa Savings Plan for Bargaining Employees
 Amended and Restated Effective as of January 1, 2010
	 	

 17 

 SECTION 4. NEGOTIATED DEFERRAL CONTRIBUTIONS, RESTRICTED DISCRETIONARY CONTRIBUTIONS, AND RETIREE MEDICAL
SAVINGS CONTRIBUTIONS 
 (a) Negotiated Deferral Contributions consisting of mandatory cola savings shall be allocated
to the Pre-Tax Savings account of each Eligible Employee employed on the last day of the Plan Year, in accordance with an applicable Bargaining Agreement. Negotiated Deferral Contributions will be made in an amount attributable to the period
occurring in the current Plan Year for which an award of back wages is made pursuant to a settlement or arbitration agreement by which the Participant is to be “made whole” with respect to such award. 

(b) A Participating Employer for each Plan Year may contribute under the plan to the account of those Eligible Employees who are
employed with said Participating Employer on the last day of the Plan Year, a Restricted Discretionary Contribution in an amount determined in accordance with an applicable Bargaining Agreement, unless disapproved by the Benefits Management
Committee. Restricted Discretionary Contributions will be allocated to Eligible Employees based on either uniform dollar amounts or whole or partial percentages of Eligible Compensation. A Participating Employer may elect to make one Restricted
Discretionary Contribution for any Plan Year on or before December 31 of the Plan Year. The Restricted Discretionary Contribution will be paid to the Trustee no later than the date fixed by law for the filing of the Participating
Employer’s federal income tax return for the year for which the contribution is made, including any extensions of time granted by the Internal Revenue Service for filing the return. The Participating employer may direct the Trustee to promptly
invest such amount in the Alcoa Stock Fund; otherwise, Restricted Discretionary Contributions will be invested in accordance with the provisions of Section 8(b). 
 Notwithstanding the foregoing, Howmet Corporation will contribute Negotiated Contributions under the Plan to the accounts of its Whitehall, MI Eligible Employees on a monthly basis, regardless of whether
or not a Participant is employed on the last day of the Plan Year. Such Negotiated Deferral Contributions will be paid to the Trustee within the period of time specified by law. 

(c) Participants covered by the collective bargaining agreement between the Company and the United Steelworkers ratified on
June 24 , 2010 (“2010 Master Agreement”), and Participants in other bargaining locations described in Schedule B who meet the eligibility requirements described below will receive Retiree Medical Savings Contributions to their
accounts in an amount equal to $0.40 per hour worked. For purposes of determining Retiree Medical Savings Contributions, hours will be deemed credited with respect to any back pay awards and military leave, but will not include hours not worked,
such as but not limited to, hours credited for vacation, holiday, jury or witness pay. 

  

			
	 Alcoa Savings Plan for Bargaining Employees
 Amended and Restated Effective as of January 1, 2010
	 	

 18 

 Retiree Medical Savings Contributions will be contributed on a payroll basis and the Participant will not be
required to be employed on the last day of the Plan Year as a condition to receive the contribution. Contributions will be paid to the Trustee within the period of time specified by law. Retiree Medical Savings Contributions are not subject to
withdrawals, distributions prior to termination of employment, or loans. Retiree Medical Savings Contributions will be deposited in the appropriate QDIA, but may be transferred by the Participant from the QDIA to any elected Core Fund at any time.

 Participants eligible for Retiree Medical Savings Contributions are Eligible Employees employed at the Master Agreement and
other bargaining locations described in the Retiree Medical Savings Contributions table in Schedule B who i) have completed one year of Continuous Service, and ii) have an Employment Commencement Date occurring or are rehired on or after
July 1, 2010, regardless of the duration of the period the individual was separated from employment. 
 (d) An
Eligible Employee who incurs an absence due to military leave protected by USERRA and eligible to receive Negotiated Deferral Contributions, Restricted Discretionary Contributions, or Retiree Medical Savings Contributions will receive those
contributions based on the Eligible Compensation or applicable hours that would have been received had the individual remained actively employed during the period of military leave. 
 SECTION 5. EMPLOYER RETIREMENT INCOME CONTRIBUTIONS (ERIC) 
 As of the dates
indicated in Schedule B, Eligible Employees with an Employment Commencement Date or Reemployment Commencement Date employed on December 31, 2006 at a Company and Location, and part of a bargaining unit as designated in Schedule B, will receive
an Employer Retirement Income Contribution in the amount of three percent of applicable Eligible Compensation for the Plan Year. Employer Retirement Income Contributions of three percent of Eligible Compensation will be made to the accounts of
Participants on a Payroll Period basis, whether or not employed on the last day of the Plan Year. Notwithstanding the foregoing, Eligible Employees of certain locations and bargaining units designated in Schedule B will receive Employer Retirement
Income Contributions as of the date indicated, regardless of the date of their Employment Commencement Date or Reemployment Commencement Date. An Eligible Employee who incurs an absence due to military leave protected by USERRA and eligible to
receive Employer Retirement Income Contributions (“ERIC”) will receive those contributions based on the Eligible Compensation that would have been received had the individual remained actively employed during the period of military leave.

 Prior to January 1, 2011, Employer Retirement Income Contributions are not subject to withdrawals,
distributions prior to termination of employment, or loans. Effective January 1, 2011, withdrawals of Employer Retirement Income Contributions are permitted by Participants who have attained age 59 1/2. 

  

			
	 Alcoa Savings Plan for Bargaining Employees
 Amended and Restated Effective as of January 1, 2010
	 	

 19 

 SECTION 6. NONFORFEITURE OF PARTICIPATING EMPLOYER CONTRIBUTIONS, NEGOTIATED DEFERRAL CONTRIBUTIONS,
RESTRICTED DISCRETIONARY CONTRIBUTIONS, EMPLOYER RETIREMENT INCOME CONTRIBUTIONS, AND RETIREE MEDICAL SAVINGS CONTRIBUTIONS 

The Participating Employer Contributions, Negotiated Deferral Contributions, Restricted Discretionary Contributions, \Employer Retirement
Income Contributions, and Retiree Medical Savings Contributions held in an affected Participant’s account become nonforfeitable and cease to be subject to divestment by reason of (a) Nonforfeitable Circumstances or (b) the termination
or partial termination of the Plan or any complete discontinuance of all contributions thereto which in accordance with Section 19 results in nonforfeiture of Participating Employer Contributions in such Participant’s account, whichever
date occurs first. 
 Effective January 1, 2011, all Participating Employer Contributions, Restricted Discretionary
Contributions, Employer Retirement Income Contribution, and Retiree Medical Savings Contributions, and any investment earnings attributable thereto held in a Participant’s account are nonforfeitable and not subject to divestment 

SECTION 7. ROLLOVER CONTRIBUTIONS 
 An
Eligible Employee of a Participating Employer who is or may become a Participant may, unless disapproved under objective procedures established by the Benefits Management Committee, make a Rollover Contribution to the Plan. An Eligible
Employee’s Rollover Contribution is credited to his or her account and thereafter treated like the Participant’s Pre-Tax Savings with respect to withdrawals, loans and investment options under the Plan. 

SECTION 8. INVESTMENTS 

(a) Savings and Employer Retirement Income Contributions. Pre-Tax Savings (including Rollover Contributions), After-Tax
Savings, and Employer Retirement Income Contributions will be invested, at the election of the Participant, in any of the Core Funds in one percent increments. Pre-Tax Savings of any Participant who is Automatically Enrolled and Employer Retirement
Income Contributions made to the account of a Participant who has not made investment election will be contributed to the appropriate QDIA fund, based on the Participant’s date of birth. 

  

			
	 Alcoa Savings Plan for Bargaining Employees
 Amended and Restated Effective as of January 1, 2010
	 	

 20 

 A Participant may change his or her current investment election or transfer assets deposited
by the Plan into a QDIA fund any day of the Plan Year, to be effective for the next following Payroll Period, within the limitations otherwise provided in this Plan, by directing the Plan Administrator or its Designee to make such change which
direction is Properly Received. 
 (b) Participating Employer Contributions, and Restricted Discretionary
Contributions. Participating Employer Contributions must be invested in the Alcoa Stock Fund subject to Section 9. Restricted Discretionary Contributions may be invested in the Alcoa Stock Fund if directed by the Participating Employer,
subject to Section 9, or otherwise invested in the same Core Funds elected by the Participant for his or her current Savings (or if none, then in the QDIA). 
 (c) Brokerage Account. A portion of Pre-Tax or After Tax Savings, and Participating Employer Contributions, Negotiated Deferral Contributions, Restricted Discretionary Contributions, or
Employer Retirement Income Contributions subject to transfer as provided in Section 9, or any other amounts invested in the Core Funds may be transferred in amounts of $1000 or more and reallocated to a Brokerage Account, a self-directed
brokerage account that allows a Participant to select and personally manage investment options not otherwise available under the Plan, in accordance with the provisions of Section 16. Any amounts to be withdrawn, loaned or distributed from a
Brokerage Account must be first transferred back to the Core Funds, as described in Section 16(h). 
 (d) Automatic
Rebalancing of Investments. A Participant may elect to have his or her account balance automatically rebalanced, or readjusted, at ninety-day intervals, to equal the percentage(s) directed by the Participant for investing such account
balance in any Core Fund(s). The Participant may cancel Automatic Rebalancing at any time in a manner designated by the Plan Administrator that is Properly Received. 
 SECTION 9. TRANSFERS BETWEEN INVESTMENTS 
 (a) Transfer of Savings,
Participating Employer, Negotiated Deferral, Restricted Discretionary Contributions, and Employer Retirement Income Contributions. A Participant may elect to transfer in whole percentage increments all or part of the Current Market Value of
his or her Pre-Tax Savings, After Tax Savings, Negotiated Deferral Contributions, Restricted Discretionary Contributions, or Employer Retirement Income Contributions subject to the following: 

(1) Transfers from any one or more Core Funds to the Brokerage Account may be made in amounts of $1000 or more;

 (2) Transfers may be made on a daily basis; 

  

			
	 Alcoa Savings Plan for Bargaining Employees
 Amended and Restated Effective as of January 1, 2010
	 	

 21 

 (3) Investment Fund transfers do not constitute a change in the
Participant’s current investment election; 
 (4) Prior to January 1, 2011, transfers of Negotiated
Deferral Contributions and Employer Retirement Income Contributions to the Brokerage Account are restricted to vested funds; and 
 (5) Transfer provisions may be subject to restrictions imposed by mutual fund companies underlying the Core Funds. 
 (b) Effective Date of Transfer. The effective date of any transfer will be the date for which the appropriate direction to the Plan Administrator or its Designee has been Properly Received.

 (c) Value of Transfer. The Current Market Value of Savings, Participating Employer Contributions, Negotiated
Deferral Contributions, Restricted Discretionary Contributions, and Employer Retirement Income Contributions to be transferred into or out of an Investment Fund are determined in accordance with the value of the Investment Fund at the close of
business of the Business Day on the Effective Date. 
 SECTION 10. WITHDRAWALS DURING EMPLOYMENT 

(a) Withdrawals During Employment Prior to January 1, 2011. The provisions of this subsection (a) govern in the
case of any withdrawal whose Effective Date occurs prior to January 1, 2011, while a Participant is earning Continuous Service. 
 A Participant is not permitted to withdraw all, or any portion of the Current Market Value of his or her investments then held in his or her account attributable to Pre-Tax Savings and Negotiated Deferral
Contributions until such time as he or she attains age 59 1/2, or the Plan Administrator determines, subject to the requirements of Section 401(k) of the Code, that the Participant has sustained a Financial Hardship. Upon a determination by the Plan
Administrator or Designee that the Participant has suffered a Financial Hardship, a Participant may withdraw from his or her account Pre-Tax Savings and Negotiated Deferral Contributions (excluding earnings thereon) in an amount not to exceed the
amount of the determined hardship in accordance with uniform rules established by the Plan Administrator and approved by the Benefits Management Committee. A Participant may withdraw the Current Market Value of After-Tax Savings at any time (subject
to a $250.00 minimum). 
 Effective the first Business Day a Participant has attained three Years of Plan Participation,
he or she may voluntarily withdraw all or a portion (subject to a $250.00 minimum) of the Current Market Value of Participating Employer Contributions and Discretionary Contributions in his or her account. 

  

			
	 Alcoa Savings Plan for Bargaining Employees
 Amended and Restated Effective as of January 1, 2010
	 	

 22 

 A Participant may not withdraw the Current Market Value of Restricted Discretionary Contributions or
Employer Retirement Income Contributions in his or her account. 
 (b) Withdrawals During Employment On or After
January 1, 2011. The provisions of this subsection (b) govern any withdrawal whose Effective Date occurs on or after January 1, 2011, while the Participant is earning Continuous Service. 

Effective with respect to Pre-Tax Savings, Negotiated Deferral Contributions, Restricted Discretionary Contributions, Participating
Employer Contributions, and Employer Retirement Income Contributions made to the Plan on or after January 1, 2011, withdrawals are not permitted prior to the termination of the Participant’s Continuous Service, except for the following:

 (1) Upon attainment by the Participant of age 59 1/2; or 

(2) Upon a determination by the Plan Administrator or Designee that the Participant has suffered a Financial Hardship with respect to
Pre-Tax Savings, and Employer Contributions contributed to the Plan prior to January 1, 2011. 
 A Participant may withdraw the Current
Market Value of After-Tax Savings at any time (subject to a $250.00 minimum). 
 SECTION 11. DISTRIBUTIONS UPON TERMINATION OF EMPLOYMENT

 (a) By Reason of Nonforfeitable Circumstances. A Participant whose employment terminates by reason of a
Nonforfeitable Circumstance, or the Beneficiary of a Participant whose employment terminates by reason of death, is eligible to receive as a distribution the Current Market Value of all Savings, Participating Employer Contributions, Negotiated
Deferral Contributions, Restricted Discretionary Contributions, Employer Retirement Income Contributions, and Retiree Medical Savings Contributions in such Participant’s account. 

(b) By Reason Other Than Nonforfeitable Circumstances. A Participant who’s Continuous Service terminates for reason
other than Nonforfeitable Circumstances is eligible to receive as a distribution the Current Market Value of all Savings and Negotiated Deferral Contributions held in such Participant’s account. In such case, the Current Market Value of all
Participating Employer Contributions, Restricted Discretionary Contributions, Employer Retirement Income Contributions, and Retiree Medical Savings Contributions held in such Participant’s accounts which have not become nonforfeitable under
Section 6 as of the date of such termination are forfeited and will not be included in such distribution. 

  

			
	 Alcoa Savings Plan for Bargaining Employees
 Amended and Restated Effective as of January 1, 2010
	 	

 23 

 The Current Market Value of such forfeited amounts may be used to offset Plan expenses or to reduce the
amount of Participating Employer Contributions, Negotiated Deferral Contributions, Restricted Discretionary Contributions, Employer Retirement Income Contributions, or Retiree Medical Savings Contributions thereafter made. In such event, if such
person has a Reemployment Commencement Date within five years of the Severance from Service Date, then the forfeiture condition under the proceeding sentences is removed. In the event of any reemployment described in the preceding sentence, the full
value (as of the Effective Date of such forfeiture) of Participating Employer Contributions, Negotiated Deferral Contributions, Restricted Discretionary Contributions, Employer Retirement Income Contributions, and Retiree Medical Savings
Contributions so applied is restored to such person’s account. 
 (c) Effective January 1, 2011, all
Participants’ accounts will be nonforfeitable and a Participant whose Continuous Service terminates is eligible to receive as a distribution the Current Market Value of all Savings, Participating Employer Contributions, Discretionary
Contributions, Restricted Discretionary Contributions, and Employer Retirement Income Contributions made to the Participant’s accounts. In the event a Participant who has terminated employment received a total distribution of the Current Market
Value of his or her account under the Plan has a Reemployment Commencement Date, he or she will not be permitted to repay the distributed amount other than as a Rollover Contribution from an eligible retirement plan described in Sections 402(c)(4)
and 401(a)(31) of the Code, as provided in Section 7. 
  

	 	(d)	Direct Rollovers. 

 (i)
Notwithstanding any provision of the Plan to the contrary that would otherwise limit a distributee’s election under this subsection, a distributee may elect, at the time and in the manner prescribed by the Plan Administrator, and to have any
portion of an eligible rollover distribution paid directly to an eligible retirement plan specified by the distributee in a direct rollover. 
  

	 	(ii)	Definitions: 

 (1) Eligible
rollover distribution: An eligible rollover distribution means any distribution to an employee of all or any portion of the balance to the credit of the employee in the Plan, and as otherwise described in this subsection (1). An eligible rollover
distribution does not include any distribution that is one of a series of substantially equal periodic payments (not less frequently than annually) made for the life (or life expectancy) of the distributee or the joint lives (or joint life
expectancies) of the distributee’s designated beneficiary, or for a specified period of ten years or more; any distribution to the extent such distribution is required under Section 401(a)(9) of the Code; and any amount distributed on
account of hardship. 

  

			
	 Alcoa Savings Plan for Bargaining Employees
 Amended and Restated Effective as of January 1, 2010
	 	

 24 

 (2) Eligible retirement plan: An eligible retirement plan is an individual retirement
account or individual retirement annuity described in Sections 408(a) and 408(b) of the Code, a qualified trust described in Section 401(a) of the Code that accepts the distributee’s eligible rollover distribution, an annuity plan or
contract described in Sections 403(a) and 403(b) of the Code, or an eligible plan under Section 457(b) of the Code that is maintained by a state, political subdivision of a state, or any agency or instrumentality of a state or political
subdivision of a state that agrees to separately account for amounts transferred into such plan from this Plan. The definition of eligible retirement plan will also apply in the case of a distribution to a surviving spouse of a Participant, or
spouse or former spouse who is the alternate payee under a qualified domestic relations order as defined in Section 414(p) of the Code. With respect to an eligible rollover distribution to a Participant’s nonspouse Beneficiary, an eligible
retirement plan is an individual retirement account or annuity described in Sections 408(a) and 408(b) of the Code established for the purpose of receiving such distribution, and identifying the deceased Participant and Beneficiary. 

(3) Distributee: A distributee includes an employee or former employee. In addition, the employee’s or former employee’s
surviving spouse and the employee’s or former employee’s spouse or former spouse who is an alternate payee under a qualified domestic relations order, as defined in Section 414(p) of the Code, are distributees with regard to the
interest of the spouse or former spouse. Effective January 1, 2008, distributee includes the employee’s or former employee’s nonspouse Beneficiary. 
 (4) Direct Rollover: A direct rollover is a payment by the Plan to the eligible retirement plan specified by the distributee. 
 SECTION 12. PAYMENT OF DISTRIBUTIONS UPON TERMINATION OF EMPLOYMENT 
 (a)
Subject to the following provisions of this Section, payment to a Participant or Beneficiary of the Current Market Value of all Savings, Participating Employer Contributions, Negotiated Deferral Contributions, Restricted Discretionary
Contributions and Employer Retirement Income Contributions in the Participant’s account from any Investment Fund, other than the Alcoa Stock Fund, upon the Participant’s termination of Continuous Service is made in cash. All amounts held
in the Alcoa Stock Fund at the time of the Participant’s termination of Continuous Service are paid in cash or Company Stock. Such payment will be made in accordance with the following rules: 

(i) If the Current Market Value of all of the Participant’s vested account balances (not including Rollover Contributions) in all
qualified defined contribution plans of Alcoa, the Subsidiaries and Affiliates is greater than $1,000 but less than $5,000, and the Participant does not elect to have such distribution paid directly to an eligible

  

			
	 Alcoa Savings Plan for Bargaining Employees
 Amended and Restated Effective as of January 1, 2010
	 	

 25 

 
retirement plan specified by the Participant in a direct rollover or to receive the distribution directly in cash, then the distribution will be paid in a direct rollover to an individual
retirement account designated by the Benefits Management Committee. 
 (ii) If the Current Market Value of all of the
Participant’s vested account balances in all defined contribution plans of Alcoa, the Subsidiaries and Affiliates exceeds $5,000, the distribution is made upon the consent of the Participant, or surviving spouse if applicable, and if no consent
is given and no claim for benefits has been made, such distribution is made in total upon his or her attainment of age 70. Prior to the distribution of the total Current Market Value of the Participant’s total account balance, the Participant,
or the Beneficiary in the case of a Participant who dies with an account balance in the Plan, may request four partial distributions (subject to a $250.00 minimum) during each Plan Year in which the account balance is maintained in the Plan.
Notwithstanding the foregoing, in the event that a claim for benefits is made, a distribution is made no later than the 60th day after the latest of the last day of the Plan Year in which occurs: (1) the date on which the Participant attains
age 65, (2) occurs the tenth anniversary of the year in which the Participant commenced participation in the Plan, or (3) the Participant terminates his or her service with the Participating Employer. 

(iii) If a distribution is one to which Sections 401(a)(11) and 417 of the Code do not apply, such distribution may commence less than 30
days after the notice required under Section 1.411(a)-11(c) of the Income Tax Regulations is given, provided that: 
 a. the Plan Administrator clearly informs the Participant that the Participant has a right to a period of at least 30 days after receiving the notice to consider the decision of whether or not to elect a
distribution (and, if applicable a particular distribution option), and 
 b. the Participant, after receiving
the notice, affirmatively elects a distribution. 
 (iv) If the Participant dies with an account balance in the Plan, the entire
interest of the Participant will be distributed not later than 5 years after the death of the Participant. 
 (b) Upon
any distribution of Company Stock from the Alcoa Stock Fund, the Trustee delivers to the recipient a certificate representing the number of whole shares of Company Stock being distributed and cash equal to the Current Market Value on the Effective
Date of distribution of any fractional interest in a share being distributed. With respect to any shares of Company Stock which are to be sold for the account of the recipient, the Trustee may, at its option (1) purchase such shares for Plan
purposes at the Current Market Value on the Effective Date of distribution, or (2) sell such shares on the open market for the account of the recipient. 

  

			
	 Alcoa Savings Plan for Bargaining Employees
 Amended and Restated Effective as of January 1, 2010
	 	

 26 

 (c) Notwithstanding the foregoing provisions of this Section,
distribution of a Participant’s account balances commences the April 1 next following the calendar year in which the Participant attains age
70 1/2 years after January 1, 1988 and in
accordance with Section 12(b). 
 (d) Notwithstanding the foregoing, if a Participant is reemployed by a
Participating Employer, then distribution of his or her account balances other than minimum required distributions under Section 401(a)(9) of the Code, if any, payable to him or her during the period of his or her reemployment is suspended
until his or her subsequent termination from employment. Upon his or her subsequent termination from employment, the Participant’s account balances are paid in accordance with the foregoing provisions of this Section 12. 

(e) Notwithstanding paragraphs (a) and (b) above, in the event that any qualified defined contribution plan is merged
with this Plan or this Plan is the surviving plan with respect to any assets of Participants of a merging plan which are transferred to this Plan, any distribution options contained in the merging plan which are not contained in this Plan may be
continued to be distribution options available to the said Participant of the merging plan for distribution of his or her account, in accordance with Section 411(d)(6) of the Code. 
 SECTION 13. GENERAL PROVISIONS WITH RESPECT TO WITHDRAWALS 
 (a)
Effective Date of Withdrawal. The Effective Date of any withdrawal from the Plan is the Business Day such request for withdrawal is Properly Received by the Plan Administrator or its Designee. 

(b) Distribution Limitations. Distribution of all amounts payable under the Plan to a Participant commences: 

(i) Not later than (1) the required distribution dates or (2) the required distribution date, without violating Treasury
regulations, if any, over the life of the Participant or over the lives of the Participant and a Beneficiary, or over a period not extending beyond the life expectancy of the Participant and a Beneficiary. 

(ii) If distribution of the Participant’s interest in the Plan has begun in accordance with paragraph (i)(2) and the Participant
dies before his or her entire interest is distributed, the Participant’s remaining interest in the Plan will be distributed at least as rapidly as under the method of distribution stated under paragraph (i)(2) above being used on the date of
the Participant’s death. If the Participant dies before the distribution of his or her interest in the Plan has begun in accordance with paragraph (i)(2), the entire interest of the Participant will be distributed not later than five years
after the death of the Participant. 

  

			
	 Alcoa Savings Plan for Bargaining Employees
 Amended and Restated Effective as of January 1, 2010
	 	

 27 

 For purposes of this paragraph (b), the “required distribution
date” means the date prescribed by Treasury Regulations, as amended from time to time, which effective January 1, 1988, is April 1 of the calendar year following the calendar year in which the Participant attains age 70 1/2. 

For the purposes of this paragraph (b), any amount paid to a minor child is treated as if it had been paid to the surviving spouse if
such amount will become payable to the surviving spouse upon such child reaching majority or any other designated event as may be permitted by Treasury Regulations, if any. 
 (c) Appendix D, Minimum Distribution Requirements, provides Plan provisions to comply with Section 401(a)(9) of the Code and Treasury Regulations §1.401(a)(9)-2 through -9, as applicable,
relating to required minimum distributions. 
 SECTION 14. NONASSIGNABILITY 

Except as required under ERISA, no right or interest of any Participant or Beneficiary in the Plan or in such Participant’s accounts
is (a) assignable or transferable or subject to any lien in whole or in part, either directly or by operation of law or otherwise, including, but not by way of limitation, alienation, execution, levy, garnishment, attachment, pledge, bankruptcy
or in any other manner other than a transfer as a result of death or mental incompetence, or (b) liable for, or subject to, any obligation or liability of such Participant or Beneficiary. Such portions of the Savings, Participating Employer
Contributions, Negotiated Deferral Contributions, Restricted Discretionary Contributions, and Employer Retirement Income Contributions in the account of a Participant as are payable to another in accordance with the provisions of a “qualified
domestic relations order,” as defined in Section 414(p) of the Code and any applicable regulations thereunder, are distributed to the party designated in and in accordance with said order. The Effective Date of withdrawal for any such
distribution is the first Business Day following the Plan Administrator’s determination that the said order is in compliance with Section 414(p) of the Code and any applicable regulations thereunder, and such distribution is made as soon
as administratively practical thereafter. The Plan Administrator or Designee has promulgated procedures to determine whether a domestic relations order is a qualified domestic relations order. The procedures will be provided to a participant or
alternate payee upon written request, or upon receipt of the domestic relations order by the Plan Administrator or Designee. 

  

			
	 Alcoa Savings Plan for Bargaining Employees
 Amended and Restated Effective as of January 1, 2010
	 	

 28 

 SECTION 15. EXTENT OF PARTICIPANT’S RIGHTS 

(a) General. No person has any interest in or right to any part of the assets held under the Plan or the income thereon,
except as and to the extent expressly provided in the Plan. 
 At the time of withdrawal by a Participant or Beneficiary, he or
she will receive shares or cash. There is no guarantee that the Current Market Value of any investment will be equal to or greater than the amount of the Participant’s Savings therein. This Plan is designed to comply with and operate under
Section 404(c) of ERISA. A Participant and his or her Beneficiaries assume all risk in connection with any decrease in the value of any investments allocated to such Participant’s account. For purposes of Section 404(c)(1) of ERISA,
in the absence of Participant of Beneficiary investment direction, a Participant or Beneficiary shall be treated as having exercised control over the assets invested in any investment which qualifies as a QDIA in accordance with
Section 404(c)(5) of ERISA and the regulations promulgated thereunder. 
 The Plan does not and should not be construed as
conferring any rights upon any person for a continuation of employment, nor does it interfere with the rights of Alcoa or any Subsidiary or Affiliate to terminate the employment of any person or to take any personnel action affecting such person
without regard to the effect which such action might have upon such person or his or her Beneficiaries as a prospective recipient of benefits under the Plan. 
 (b) Military Service. Notwithstanding any provision of this Plan to the contrary, contributions, benefits and service credit with respect to qualified military service will be provided in
accordance with Section 414(u) of the Internal Revenue Code. 
 SECTION 16. MANAGEMENT OF FUNDS 

(a) General. Savings, Participating Employer Contributions, Negotiated Deferral Contributions, Restricted Discretionary
Contributions, and Employer Retirement Income Contributions paid to the Trustee are invested as provided in the Plan. 
 (b)
Trustees and Investment Managers. The Board or its designee has the responsibility to appoint, review the performance of, and remove where deemed appropriate, one or more Trustees, and one or more investment managers, each of which is a
bank, insurance company or other investment adviser qualified under Section 3(38) of ERISA. The duties of each Trustee and manager, to the extent not set forth in the Plan, are set forth in a trust agreement or other written documents approved
by the Board or its designee. Except as otherwise provided in such documents or in the Plan, each such investment manager has sole investment control and management responsibility with respect to those assets of the Plan for which it is designated
the investment manager. The Board may delegate its authority to appoint an investment manager, to remove an investment manager, to approve and direct the execution by the proper officer or officers of

  

			
	 Alcoa Savings Plan for Bargaining Employees
 Amended and Restated Effective as of January 1, 2010
	 	

 29 

 
Alcoa of amendments to agreements with any investment manager, and to review the performance of any such managers. Such delegation also includes the authority to approve written documents setting
forth the duties of any manager and to direct the execution of investment management agreements by the proper officer or officers of Alcoa. No Trustee has any investment responsibility for any assets which are subject to the investment control of
another investment manager, and as to such assets it only has custodial duties if it is the custodian. 
 (c) Designation
of Investment Strategy. The Board may from time to time designate, as to part or all of the assets of the Plan, that a separate fund or funds be established. Except as otherwise provided in the Plan, as to each such separate fund the Board
or its designee may specify the investment strategy to be employed and the investment manager is thereupon relieved of responsibility for assuring that the specified investment strategy creates suitable diversification of the overall assets of the
Plan, provided that such investment manager has followed such specifications. 
 (d) (1) Acquisition of Fixed Income
Investments by the Trustee. The Trustee will enter into investment arrangements with insurance companies, banks or money managers, as directed by an investment manager duly appointed by the Board or its designee for the Fixed Income Fund.
The Trustee will invest all Savings and other amounts to be invested in the Fixed Income Fund in accordance with such directions. 
 (2) Accounting for Participant’s Accounts. Participants’ investments in the Fixed Income Fund are accounted for on a unit basis. The Trustee allocates to the accounts of each
Participant such units in the Fixed Income Fund as may be acquired with funds (if any) in such Participant’s accounts to be invested therein. Such allocations will be made in a uniform manner as determined by the Benefits Management Committee.
Transfers and withdrawals are valued based on the Current Market Value per unit on the Effective Date of the transfer or withdrawal. 
 (e) (1) Acquisition of Company Stock by Trustee. The Savings, Participating Employer Contributions, Negotiated Deferral Contributions, Restricted Discretionary Contributions, and Employer
Retirement Income Contributions to be invested in the Alcoa Stock Fund are used by the Trustee to purchase from time to time shares of Company Stock (i) from Alcoa, at the Current Market Value thereof, or (ii) to the extent Alcoa does make
shares available for purchase by the Trustee for such purpose, on the open market unless Alcoa otherwise directs, or (iii) by the exercise of warrants or rights as provided in this Section. The Trustee, to the extent reasonable, invests any
cash held in the fund in cash equivalents (including commercial paper). The Trustee also holds for the purpose of allocation to the accounts of individual Participants as hereinafter provided (i) shares of such stock which the Trustee has
acquired upon withdrawal by a Participant, (ii) shares of such stock which the Trustee has acquired pursuant to Participants’ elections to transfer investments under the provisions of Section 9 and (iii) shares of such stock

  

			
	 Alcoa Savings Plan for Bargaining Employees
 Amended and Restated Effective as of January 1, 2010
	 	

 30 

 
forfeited under the provisions of Section 11. All shares of such stock purchased by the Trustee are carried in the accounts of the Trustee at the actual cost thereof, including any taxes,
commissions, etc. which are not paid by the Participating Employer, incident to the purchase except that shares acquired upon the exercise of warrants or rights are carried at the Current Market Value of such shares on the date of such exercise.
Shares of such stock forfeited under the provisions of Section 11 are deemed to have been purchased by the Trustee on the Effective Date of the withdrawal which resulted in such forfeiture, at the Current Market Value on such date. 

(2) Allocation of Stock to Participants’ Accounts. Participants’ investments in the Alcoa Stock Fund are
accounted for on a unit basis. The Trustee allocates to the accounts of each Participant such units in the Alcoa Stock Fund as may be acquired with funds (if any) in such Participants’ accounts to be invested therein. Such allocations are made
in a uniform manner as determined by the Benefits Management Committee. Transfers and withdrawals are valued based on the Current Market Value per unit on the Effective Date of the transfer or withdrawal. 

(3) Allocation of Dividends to Participants’ Accounts. In valuing the units, dividends are accounted for on the date
the Board declares the dividend. Once received, dividends are invested in the Alcoa Stock Fund. A Participant may elect to receive an annual distribution of the dividends posted to their account during the Plan Year. Such election must be made prior
to the last dividend record date in the Plan Year, and distribution will be made as soon as administratively practical following the date the final dividends are posted to the Participant’s account. Distribution will be paid in a lump sum from
the Alcoa Stock Fund. To the extent the Participant’s account balance in the Alcoa Stock Fund is insufficient to pay the dividends, the balance of the distribution will be paid pro-rata from the Participant’s other Core Fund investments.

 (4) Warrants & Purchase Rights. A Participant has no right of request, direction or demand upon the
Trustee to exercise in his or her behalf warrants or rights to purchase shares of common stock or other securities of Alcoa, except as otherwise determined by the Board. The Trustee, in its discretion, may exercise or sell any warrants or rights to
purchase shares of Company Stock appertaining to shares of such stock held by the Trustee, and may sell any warrants or rights to purchase other securities of Alcoa appertaining to shares of such stock held by the Trustee. 

(5) Stock Splits & Dividends. Shares of Company Stock received by the Trustee by reason of a stock split or stock
dividend become part of the Alcoa Stock Fund. 
 (6) Voting. The Trustee exercises its voting rights in accordance
with written directions of each Participant with respect to at least the number of whole shares of Company Stock held by it in the Participants’ accounts on the record date for voting, other

  

			
	 Alcoa Savings Plan for Bargaining Employees
 Amended and Restated Effective as of January 1, 2010
	 	

 31 

 
than shares of Company Stock held by it in the Participants’ accounts which have been forfeited or become forfeitable (without removal of the forfeiture conditions) pursuant to
Section 11 prior to such record date for voting. With respect to all other shares of Company Stock held by the Trustee on the record date for voting (the “Other Shares”), including but not limited to, (i) fractional shares in the
Participants’ accounts (if they are not subject to direct voting), (ii) shares for which it has not received written directions from any Participant, (iii) any shares which have not yet been allocated to Participants’ accounts,
and (iv) any shares held by it in Participants’ accounts which have been forfeited or became forfeitable (without removal of the forfeiture condition) pursuant to Section 11 prior to such record date for voting, the Trustee exercises
its voting rights in the same proportion (for, against, abstain and so on) on each matter as it exercises its voting rights with respect to shares of Company Stock for which voting directions were received from all participants in all plans which
participate in the Alcoa Stock Fund. 
 (f) (1) Acquisition of Other Investments by Trustee. Alcoa has and in the
future will enter into investment arrangements with various investment managers. Any such arrangements must be approved by the Benefits Management Committee. Expenses incurred in connection with the purchase or sale of securities by the investment
manager are paid from the applicable Investment Fund. 
 (2) Accounting for Participant’s Accounts. Effective
January 1, 2011, Participants’ investments in the Core Funds are accounted for on a unit basis. The Trustee allocates to the accounts of each Participant such units in each of the Core Funds as may be acquired with funds (if any) in such
Participant’s accounts to be invested therein. Such allocations will be made in a uniform manner as determined by the Benefits Management Committee. Transfers and withdrawals are valued based on the Current Market Value per unit on the
Effective Date of the transfer or withdrawal. 
 (g) Transition Provision. Pending investment under an arrangement
established pursuant to this Section, and pending distribution to Participants following withdrawal from such an arrangement, cash is invested by the Trustee in short-term fixed income securities or cash equivalents (including commercial paper) and
the value of such securities or cash equivalents is allocated to the accounts of Participants in an equitable manner determined by the Benefits Management Committee. 
 (h) Brokerage Account. Participant’s have the right to invest and personally manage investments outside of the Core Funds by investing through the Brokerage Account offered by a broker
selected by the Plan (“Broker”). Investment options through the Brokerage Account are mutual funds (other than those already available as Core Funds), any taxable equity or fixed income security publicly traded in a U.S. security market
(including American Depository Receipts), and money market funds. Pre-Tax Savings, After-Tax Savings, Rollover Contributions, Participating Employer Contributions, Negotiated Deferral Contributions, Restricted Discretionary Contributions, and
Employer 

  

			
	 Alcoa Savings Plan for Bargaining Employees
 Amended and Restated Effective as of January 1, 2010
	 	

 32 

 
Retirement Income Contributions that are subject to transfer as provided in Section 9, may not be directly invested in the Brokerage Account, nor may withdrawals, distributions or loans be
made directly from the Brokerage Account. Such transactions must be processed through the Core Funds. 
 (1) Restrictions
of Trading in the Brokerage Account. Certain restrictions apply to investment vehicles that may be available through the Brokerage Account: Specifically, the following investments are not available through the Brokerage Account: Alcoa
company stock (common or preferred) and bonds; funds currently available in the Core Funds; tax-free funds; securities of publicly traded limited partnerships; options contracts; purchase on short sales, futures, precious metals, and currencies;
real estate (other than funds); annuities; life insurance policies; collectibles; commodities; foreign stocks (not American Depository Receipt); and margin trading and trade-away trades that are placed by another broker and settle with the Broker.

 (2) Trading within the Brokerage Account. Investment purchases in the Brokerage Account may be made after such
amounts are transferred from the Participant’s Core Fund accounts. Transfers from Core Funds may be made as provided in Section 9. Transferred funds will be held in the Broker’s money market fund until the Participant’s buy
orders are received by the Broker. Trades may be subject to initial and subsequent investment minimums required by a mutual fund. 
 Transfers are made out of the Brokerage Account and into the Core Funds from the Schwab money market fund. If there are insufficient funds to make the requested transfer, the participant must submit a
sell order with Schwab. The proceeds of securities sold will be invested automatically in the Broker’s money market fund and will be subsequently transferred out of the Brokerage Account to the Core Funds as directed by the Participant.

 (3) Expenses Incurred by Trading and Voting. The Broker’s standard commission schedule will be deducted
from the Brokerage Account t of the Participant who initiates the trades, and any other fees and expenses incurred through the Brokerage Account will be paid directly by the Participant. 

The Broker will execute proxies for any securities held in the Brokerage Account in accordance with written directions of any
Participant. 
 OTHER PROVISIONS OF THE PLAN 
 SECTION 17. LOANS 
 (a) A Participant may borrow a proportion of the
Current Market Value of his or her Savings, Participating Employer, and Negotiated Deferral Contributions which are eligible for transfer under Section 9(b) of this Plan (“Eligible Loan Account Balance”). 

  

			
	 Alcoa Savings Plan for Bargaining Employees
 Amended and Restated Effective as of January 1, 2010
	 	

 33 

 A Participant may not borrow Restricted Discretionary Contributions or Employer Retirement
Income Contributions or Retiree Medical Savings Contributions. Effective January 1, 2011, a Participant may not borrow Participating Employer Contributions, Restricted Discretionary Contributions, Employer Retirement Income Contributions or
Retiree Medical Savings Contributions made on or after January 1, 2011 or investment gains thereon. 
 Effective
January 1, 2011, a Participant shall pay a $100 processing fee, or such other amount as may be designated by the Plan Administrator, for each loan request. The fee will be included in the loan amount, subject to the limitations of this
Section 17, and deducted prior to distribution of the loan. 
 (b) A loan to a Participant, when added to the
balance of any other outstanding loans the Participant has under the Plan, cannot exceed the lesser of: 
 (1) $50,000 reduced
to the extent of the highest outstanding loan balance of the Participant’s loans outstanding during the 365-day period immediately preceding the date on which the loan is made; or 

(2) 50% of the sum of the Participant’s (A) Eligible Loan Account Balance, plus (B) Restricted Discretionary Contributions
and vested portion of Employer Retirement Income Contributions balances. 
 Effective January 1, 2002, a Participant may
refinance any general purpose loan for any reason at any time, as may be permitted under the Code or ERISA. 
 (c) Each
loan to a Participant is secured by a promissory note under which the Participant pledges and grants the Trustee an interest in the Participant’s Eligible Loan Account Balance to the extent of the unpaid loan. 

(d) All loans to Participants are treated as investments of plan assets in their respective accounts. All principal and interest
associated with a Participant’s repayment of a loan are credited to his or her Plan account. 
 (e) The Plan
Administrator has developed a procedure in accordance with the Code and ERISA under which such loans from the Plan will be made available to Participants which procedure has been approved by the Benefits Management Committee. 

(f) Loan repayments will be suspended under this Plan during a period of military service as permitted under
Section 414(u)(4) of the Internal Revenue Code and the regulations promulgated under Section 72(p) of the Code. Upon the Participant’s return to active employment, loan repayments will resume and the period of repayment extended in
direct proportion of the Participant’s period of absence for military leave. 

  

			
	 Alcoa Savings Plan for Bargaining Employees
 Amended and Restated Effective as of January 1, 2010
	 	

 34 

 SECTION 18. TRUST 
 All assets of the Plan are held in trust for the Plan, except as otherwise permitted by applicable law. Alcoa has entered into a trust agreement with a national banking association which acts as Trustee
under the Plan. The Board or its designee may, from time to time, amend such trust agreement (subject to its terms), remove such Trustee or any Successor Trustee and upon removal or resignation of a Trustee, appoint a Successor Trustee. 

SECTION 19. ADMINISTRATION 
 (a) Duties of Plan Administrator. The Plan Administrator or its Designee are responsible for the preparation and the filing with governmental agencies and furnishing to Participants and
Beneficiaries of all summaries, descriptions, annual and other reports, notices and other documents, and information which are required to be so prepared and filed or furnished under ERISA or the Code, retain appropriate records, and also have all
of the other responsibilities and duties of the administrator of the Plan as set forth in ERISA, except as otherwise provided in the Plan. Each Participating Employer by whom a Participant is employed furnishes to the Plan Administrator or its
Designee any records required for the foregoing. 
 (b) The Benefits Management Committee. Except as provided in
Section 16 and in paragraph (a) of this Section, the complete authority to control and manage the operation and administration of the Plan is placed in the Benefits Management Committee, which consists of one or more persons appointed from
time to time by the Board. 
 (c) Duties of Benefits Management Committee. Subject to the limitations of the Plan,
the Benefits Management Committee has the discretionary authority to: (1) construe and interpret the Plan, (2) interpret administrative forms and other information, (3) make credibility findings, and (4) establish supplemental
regulations for the administration of the Plan and the transaction of its business. All actions, determinations and interpretations of the Benefits Management Committee will be performed in a uniform and nondiscriminatory manner to all Participants
in similar circumstances. All interpretations of the Plan and determinations of disputed questions made by the Benefits Management Committee are conclusive, final and binding upon the Participating Employers, Participants, Beneficiaries, other
employees and any other individuals claiming rights under the Plan, subject to a claimant’s request under paragraph (e) of this Section to have the Benefits Management Committee review the denial of a claim. When making an interpretation
or determination, the Benefits Management Committee is entitled to rely upon information furnished by the individual, Participant, Beneficiary or Participating 

  

			
	 Alcoa Savings Plan for Bargaining Employees
 Amended and Restated Effective as of January 1, 2010
	 	

 35 

 
Employer, unless in accordance with an appeals procedure established by the Benefits Management Committee, the claimant establishes to the satisfaction of the Benefits Management Committee that
Continuous Service, compensation or other records are erroneous. 
 (d) Application for Benefits. Each person
applying for a benefit under the Plan must furnish all information required under procedures approved by the Benefits Management Committee. 
 (e) Review of Denial of Benefits. If any applicant’s claim for benefits under the Plan is denied, the applicant will be notified in writing of such denial. Such notice will set forth
the specific reasons for such denial and will be written in a manner calculated to be understood by the applicant. The applicant will be afforded a reasonable opportunity for a full and fair review by the Benefits Management Committee or its
designee of the decision denying his or her claim for benefits, in accordance with a claims procedure which the Benefits Management Committee adopts. 
 (f) Extent of Benefits Management Committee’s Responsibility. The members of the Benefits Management Committee will act in a prudent manner in the performance of their duties. No member
will be personally liable by virtue of any contract, agreement, bond or other instrument made or executed by or on behalf of such member as a member of the Benefits Management Committee. To the extent permitted by ERISA, no member of the Benefits
Management Committee will be liable for any mistake of judgment made by himself or herself or any other member, nor for any loss, unless resulting from his or her own gross negligence or willful misconduct, and no member will be liable for the
neglect, omissions or wrongdoing of any other member thereof, or of the agents or counsel of the Benefits Management Committee. To the extent permitted by law, Alcoa will indemnify and save harmless each member of the Benefits Management Committee
against all expenses and liabilities arising out of his or her services as such, except for expenses and liabilities arising from such member’s own gross negligence or willful misconduct as determined by the Board. 

(g) Relationship to Other Fiduciaries. Each fiduciary in carrying out its responsibilities under the Plan may rely upon any
direction, information or action of another fiduciary as being proper under this Plan or the documents under which the assets of the Plan are managed, and is not required to inquire into the propriety of any such direction, information, or action.
It is intended under this Plan and such documents that each fiduciary is responsible for the proper exercise of its own powers, duties, responsibilities and obligations under this Plan and such documents and is not responsible for any act or failure
to act of another fiduciary, except as otherwise provided by ERISA. 
 (h) Multiple Fiduciaries. Any person or
group of persons may serve in more than one fiduciary capacity with respect to the Plan. 

  

			
	 Alcoa Savings Plan for Bargaining Employees
 Amended and Restated Effective as of January 1, 2010
	 	

 36 

 (i) Further Allocation of Fiduciary Duties. Any two or more fiduciaries named
herein or appointed by the Board as provided herein may from time to time agree in writing with respect to the allocation of duties and responsibilities under the Plan, including fiduciary responsibilities, among the fiduciaries so agreeing,
provided however that any reallocation of fiduciary responsibilities clearly allocated by the Plan or by the Board requires prior approval of the Board. 
 (j) Delegation of Fiduciary Duties. Any fiduciary named herein or appointed by the Board as provided herein may designate another person or persons to carry out any or all of the duties and
fiduciary responsibilities which it has under the Plan and which are specified in such designation, except that no Trustee may delegate fiduciary responsibilities with respect to investment functions without the prior approval of the Board.

 (k) Delegation of Ministerial Duties. Any fiduciary named herein, appointed by the Board as provided herein, or
designated under paragraph (j) above may delegate ministerial duties as follows: employ one or more persons to render advice, including legal and accounting services, with regard to any responsibility such fiduciary has under the Plan, may
appoint ministerial agents (including brokers or others who may execute investment transactions) and may delegate to others its clerical and other non-fiduciary functions. 
 (l) No Added Remuneration for Employees. No member of the Benefits Management Committee and no other person who renders services to or for the Plan may receive remuneration for services as
such if he or she also is an employee of Alcoa, a Subsidiary or Affiliate. 
 SECTION 20. AMENDMENT, MODIFICATION, SUSPENSION OR TERMINATION

 (a) Rights Reserved. Alcoa reserves the right (subject to the terms of the applicable Bargaining Agreement),
by action of the Board or the Benefits Management Committee taken in accordance with the Board’s or Benefits Management Committee’s operating procedures, (1) to amend, modify, suspend or terminate the Plan or to suspend or completely
discontinue contributions to the Plan, and (2) to terminate the Participation in the Plan of any Participating Employer or any designated group of Eligible Employees employed either within or outside the U.S. Any Participating Employer may
terminate its participation in the Plan or suspend or discontinue its contributions under the Plan at any time upon 30 days prior written notice to the Plan Administrator. Such 30 day notice requirement may be waived by the Benefits Management
Committee. No such amendment or other action relating to the Plan may reduce the amounts then credited to any Participant’s account, or provide or have the effect of providing that the securities and funds held in trust for the Plan or the
income thereof may be used for or devoted to purposes other than the exclusive benefit of Participants and their Beneficiaries and for the payment of expenses of the Plan. 

  

			
	 Alcoa Savings Plan for Bargaining Employees
 Amended and Restated Effective as of January 1, 2010
	 	

 37 

 (b) Termination Results in Nonforfeitability. Prior to January 1, 2011,
upon termination or partial termination of the Plan, or complete discontinuance of contributions to the Plan, the Current Market Value of all Participating Employer Contributions, Negotiated Deferral Contributions, Restricted Discretionary
Contributions, and Employer Retirement Income Contributions credited to the accounts of all Participants at the time of any such termination or complete discontinuance, or of Participants affected thereby at the time of any such partial termination,
will thereupon become nonforfeitable. Alcoa determines whether assets are automatically distributed based upon the Code when they so become nonforfeitable. 
 (c) Sale of Assets, etc. In the event any assets of any business of any Participating Employer are transferred to another entity by sale, merger, consolidation or otherwise, and the entity
to which said assets are transferred has in effect, or thereupon establishes, a tax-qualified plan and related trust for the exclusive benefit of employees which qualify under the applicable provisions of the Code, all assets under the Plan, held in
the accounts of Participants who continue in the employment of the transferee entity, may be transferred and paid, for their respective accounts, to the trust for the tax-qualified plan of said transferee entity, provided that any such transfer of
investments will be effected in such manner as to preclude, for federal income tax purposes, a termination of the Plan or the constructive receipt of benefits thereunder with respect to said Participants. 

 

	 	(d)	Transfer of Plan Assets. 

 (1) Notwithstanding the foregoing, in the event of any merger or consolidation of the Plan with, or a transfer of any of the assets and liabilities of the Plan to, any other plan, each affected
Participant must (as if such plan were terminated immediately after such merger, consolidation or transfer) be entitled to a benefit under such other plan which is equal to or greater than the benefit he or she would have been entitled to receive
under the Plan immediately prior to such merger, consolidation or transfer (as if the Plan had then terminated). In the event that assets are transferred to this Plan from any other plan sponsored by Alcoa or any Subsidiary or Affiliate, each
Participant who has assets transferred from such plan or plans will be entitled to a benefit under this Plan which is equal to or greater than the benefit he or she had under such other plan. Any protected optional form of benefits provided under
said plan will be maintained under this Plan. These provisions do not constitute a guaranty against investment losses. 
 (2) In
the event a participant in a plan named below (“Alcoa Savings Plans”) becomes an Eligible Employee under this Plan, all of the participant’s accounts in the applicable Alcoa Savings Plan will be transferred to analogous accounts in
this Plan as soon as reasonably practical after the Plan Administrator or Designee receives notice. 

  

			
	 Alcoa Savings Plan for Bargaining Employees
 Amended and Restated Effective as of January 1, 2010
	 	

 38 

 Alcoa Savings Plan for Non-Bargaining Employees, effective January 1, 2011 renamed the
Alcoa Retirement Savings Plan for Salaried Employees; 
 Alcoa Savings Plan for Subsidiary and Affiliate Employees, effective
January 1, 2011 renamed the Alcoa Retirement Savings Plan for Hourly Non-Bargaining Employees; 
 Alcoa Retirement Savings
Plan for Mill Products Employees (“Mill Products Plan”), initially effective January 1, 2011; and 
 Alcoa
Retirement Savings Plan for Fasteners Systems and Commercial Windows Employees, initially effective January 1, 2011. 
 (3)
In the event a Participant ceases to be an Eligible Employee under this Plan and the Participant becomes an eligible employee under one of the Alcoa Savings Plans listed in (3) above, all of the Participant’s accounts will be transferred
to analogous accounts in the applicable Plan, as soon as reasonably practical after the Plan Administrator or Designee receives notice and the Participant ceases to be a Participant, and will be entitled to no further benefits under this Plan.

 SECTION 21. ADMINISTRATIVE EXPENSES 
 Except as otherwise provided in the Plan, all costs and expenses incurred in administering the Plan, including the expenses of the Benefits Management Committee, the fees and expenses of the Trustee, the
fees and charges payable under the investment arrangements, and other legal and administrative expenses, are paid by the Plan. 

Effective January 1, 2011, investments in the Core Funds will be subject to an administrative expense fee, which will be used to pay
the expenses of the Plan. Initially the fee will be set at five basis points per year, and will be charged on a daily basis. The fee will be periodically adjusted by the Plan Administrator based on the actual expenses of the Plan. 

SECTION 22. SELECTION OF BENEFICIARIES 
 (a) Designation of Beneficiary. Subject to such administrative regulations as may be adopted from time to time, the Beneficiary with respect to all of the assets in the accounts of a
Participant will be the Participant’s spouse if then living, or if not, the Participant’s estate. With the written notarized consent of a Participant’s spouse, a Participant may file with the Plan Administrator or its Designee a
written designation of a Beneficiary or Beneficiaries other than his or her spouse. In the event the designation of such other Beneficiary is revoked in writing by the Participant, his or her spouse will

  

			
	 Alcoa Savings Plan for Bargaining Employees
 Amended and Restated Effective as of January 1, 2010
	 	

 39 

 
become the Beneficiary of said assets until such time as the Participant, with his or her spouse’s written notarized consent, designates in writing another Beneficiary or Beneficiaries.

 In the event a Participant certifies that he or she does not have a spouse, a Beneficiary or Beneficiaries with respect to
all or part of the assets in the accounts of the Participant may be designated or revoked by the sole action of the Participant. 
 If there is no designated Beneficiary, or if no Beneficiary is living at the time of the Participant’s death, the Beneficiary is the Participant’s spouse if then living, or if not, the
Participant’s estate. 
 Written designations, spousal consents and revocations are made on a form or forms approved by the
Plan Administrator. Any such written designation, consent or revocation become effective on the calendar day on which such designation, consent or revocation is Properly Received. 

(b) Other Payments. In case of incapacity of a Participant or Beneficiary entitled to a benefit under the Plan, benefit
payment are made to such person’s legal representative who makes claim therefore, or if no such claim has been received, to such other person or persons as the Benefits Management Committee, utilizing objective criteria, selects from among
dependents, next of kin, or friends. Any payment of a benefit under the Plan in accordance with the provisions of this Section is a complete discharge of any liability for the payment of such benefit under the Plan. 

SECTION 23. PARTICIPANT’S STATEMENT 
 A statement showing each Participant’s interest in each of the Plan’s Investment Funds will be made available at least quarterly. 
 SECTION 24. EFFECTIVE DATE OF PLAN 
 The Plan is amended and restated
effective January 1, 2010. 
 SECTION 25. CONSTRUCTION 
 It is intended that the Plan conform to the applicable requirements of ERISA and the Code, and that the Plan and related trust agreement are considered one if and to the extent necessary for compliance
therewith. Except to the extent otherwise provided in ERISA and the Code, the Plan is construed, regulated and administered under the laws of the Commonwealth of Pennsylvania, including its applicable statute of limitations. 

  

			
	 Alcoa Savings Plan for Bargaining Employees
 Amended and Restated Effective as of January 1, 2010
	 	

 40 

 APPENDIX A 
 LIMITATIONS AND DISCRIMINATION TESTING 
 1. Pre-Tax Savings for any Plan Year of a
Participant is subject to the following limitations: 
 (a) The applicable limit as defined in Treasury Regulation
section 1.402(g)-1(d) with respect to the Pre-Tax Savings of this Plan and elective deferrals of all other plans, contracts, or arrangements of the employer 
 (b) if the Participant is a Highly Compensated Employee with respect to any Participating Employer for that year, the amount that may be made on his or her behalf in compliance with the special
discrimination tests of Sections 401(k) and 401(m) of the Code for that year, as applied separately to each Plan; 
 (c)
the amount deductible by the Participating Employer for that year under Section 404 of the Code; and 
 (d) the
maximum permitted amount under Appendix B of the Plan. 
 2. To conform the operation of the Plan to the requirements of Sections 401(k)
and 401(m) of the Code and the limitations of Paragraphs (1)(a) and (1)(b) above with respect to any Participant, the Plan Administrator may, without that Participant’s consent: 

(a) prospectively modify or revoke his or her election to have Savings, Participating Employer Contributions, Negotiated Deferral
Contributions, and Restricted Discretionary Contributions made on his or her behalf, 
 (b) distribute to him or her the
amount by which the Pre-Tax Savings made on his or her behalf for any Year exceeds the limitation of Paragraph (1)(a) above for that year plus the amount of any income allocable to such excess (but not more than his Pre-Tax Savings account
balance) by the April 15 next following the end of that Plan Year; 
 (c) distribute to him or her the amount by
which the Pre-Tax Savings made on his or her behalf for any Plan Year exceeds the limitations of Paragraph (1)(b) above for that year (as determined in accordance with Section 401(k)(8)(B) of the Code) plus the amount of any income
allocable to such excess (but not more than his Pre-Tax Savings account balance) by the end of the Plan Year following the Plan Year for which the amounts were contributed; and 

  

			
	 Alcoa Savings Plan for Bargaining Employees
 Amended and Restated Effective as of January 1, 2010
	 	

 41 

 (d) make appropriate adjustments to his or her Pre-Tax Savings account to reflect
such distributions. 
 3. Such modification or revocation described in 2. above is made only if necessary under one of the following
circumstances: 
 (a) to ensure that the discrimination tests of Section 401(k) of the Code governing permissible
levels of Pre-Tax Savings contributions for both the ESOP and non-ESOP portions of the Plan are met for such Plan Year, or to ensure that one of the following Average Actual Deferral Percentage tests are met for both the ESOP and non-ESOP portions
of the Plan for such Plan Year; 
 (b) to ensure that a Participant’s annual additions for any calendar year will
not exceed the limitations of Appendix B; or 
 (c) to ensure deductibility of the Employer’s entire contribution to
the Plan for federal income tax purposes. 
 4. Definitions. For purposes of this Appendix A, the following terms are defined as follows:

 (a) “Actual Deferral Percentage” means the ratio, expressed as a percentage calculated to the nearest
one-hundredth of one percent, of the amount of Pre-Tax Savings on behalf of an Eligible Employee for a Plan Year to the Eligible Employee’s Compensation for the Plan Year, whether or not the employee was a Participant for the entire Plan Year.
A Highly Compensated Employee’s Savings include such savings for the Plan Year which is in excess of the limitations set forth in Section 415(c)(1) of the Code (“Excess Pre-Tax Savings”), but exclude Excess Pre-Tax Savings for
Non Highly Compensated Employees. Any Eligible Employee who does not elect to make Pre-Tax Savings and who does not receive Qualified Matching Contributions for a Plan Year will have zero Actual Deferral Percentage for the Plan Year. 

(b) “Average Actual Deferral Percentage” means, for the group of Eligible Employees, covered under a Bargaining
Agreement, who are Highly Compensated Employees for a Plan Year or the group of Eligible Employees, covered under a Bargaining Agreement, who are Non-Highly Compensated Employees for the Plan Year, the average of the Actual Deferral Percentages of
all Eligible Employees in such group for the Plan Year. 
 (c) “Average Contribution Percentage” means, for the
group of Eligible Employees, other than those covered under a Bargaining Agreement, who are Highly Compensated Employees for a Plan Year or the group of Eligible Employees, other than those covered under a Bargaining Agreement, who are
Non-Highly Compensated Employees for the Plan Year, the average of the Contribution Percentages of all Eligible Employees in such group for the Plan Year. 

  

			
	 Alcoa Savings Plan for Bargaining Employees
 Amended and Restated Effective as of January 1, 2010
	 	

 42 

 (d) “Contribution Percentage” means the ratio, expressed as a percentage
calculated to the nearest one-hundredth of one percent, of the sum of Participating Employer Contributions and Negotiated Deferral Contributions (other than Qualified Matching Contributions treated as Elective Deferrals under paragraph 7 of this
Appendix) and any After-Tax Savings on behalf of an Eligible Employee for a Plan Year to the Employee’s Compensation for the Plan Year, whether or not the employee was a Participant for the entire Plan Year. For these purposes, an Eligible
Employee’s Contribution Percentage for any Plan Year is calculated by excluding any forfeitures of Excess Aggregate Contributions allocated to the Eligible Employee’s account for the Plan Year. 

(e) “Compensation” means the total amount of compensation (within the meaning of Section 415(c)(3) of the Code, and
subject to the limitation of Section 401(a)(17) of the Code) received by an employee from the Employer while an Eligible Employee under the Plan during the Plan Year. An Eligible Employee’s Compensation for a Plan Year includes all Pre-Tax
Savings made to the plan for the Plan Year, and all other such employee savings made by the Employer for the Plan Year to any other plan on behalf of the employee that are not currently includible in the gross income of the employee under Sections
125, 132(f)(4), 402(a)(8), 402(h) or 403(b) of the Code, provided that Alcoa has elected to treat all such elective contributions as compensation with respect to all employees under all plans of the Participating Employer. 

In applying the limitation of Section 401(a)(17) of the Code, effective January 1, 1997, the family aggregation rules under
this Appendix no longer apply. 
 (f) “Eligible Employee” means, with respect to any Plan Year, any employee
who is eligible to commence participation in the Plan under Section 1 of the Plan and to have Savings made to the Plan under Section 2 of the Plan for the Plan Year, regardless of whether any contributions are made to the Plan on behalf of
the employee for the Plan Year. 
 (g) “Excess Contributions” means, with respect to any Plan Year, the excess
of the aggregate amount of Pre-Tax Savings, including Qualified Matching Contributions treated as Elective Deferrals under paragraph 7 of this Appendix, actually made to the Plan on behalf of Highly Compensated Employees for the Plan Year over the
maximum amount of such contributions permitted under paragraph 5 of this Appendix. 
 (h) “Excess Aggregate
Contributions” means, with respect to any Plan Year, the excess of the aggregate amount of Participating Employer Contributions and any After-Tax Savings actually made to the Plan on behalf of Highly Compensated Employees for the Plan Year
over the maximum amount of such contributions permitted under paragraph 9 of this Appendix. 

  

			
	 Alcoa Savings Plan for Bargaining Employees
 Amended and Restated Effective as of January 1, 2010
	 	

 43 

 (i) “Employer” means Alcoa Inc. and all other entities as required to be
covered under Section 414(c) of the Code. 
 (j) “Family Member” means, with respect to any Eligible
Employee, an individual described in Section 414(q)(6)(B) of the Code. 
 (k) “Highly Compensated Employee”
includes, for any Plan Year, the following Employees: 
 (i) A Highly Compensated Active Employee includes
any employee (other than employees who are non-resident aliens and receive no earned income from sources within the U.S.) who performs service for the Employer during the Determination Year and who during the Look-Back Year: 

(1) was a 5 % owner (within the meaning pursuant to Section 416(i)(1) of the Code) at any time during the year
or the preceding year, or 
 (2) for the preceding year received Compensation from the Employer in excess of
$80,000 (as adjusted pursuant to Section 415(d) of the Code) for such year. 
 (ii) A Highly Compensated
Former Employee means: 
 (1) any employee who was a Highly Compensated Employee when the employee separated from
service, or 
 (2) any employee who was a Highly Compensated Employee at any time after attaining the age 55.

 (l) “Non-Highly Compensated Employee” means, for any Plan Year, an employee who is not a Highly Compensated
Employee. 
 (m) “Qualified Matching Contributions” means any Participating Employer Contributions to this Plan
on behalf of Eligible Employees, provided that amounts attributable to such contributions are not distributable merely on account of the Employee’s hardship and are immediately vested. 
 5. Average Actual Deferral Percentage Test. For each Plan Year, the Plan must satisfy one of the following Average Actual Deferral Percentage tests with respect to Pre-Tax Savings, and Qualified
Matching Contributions treated as Pre-Tax Savings under paragraph 7 of this Appendix, made to both the ESOP and non-ESOP portions of the Plan for the Plan Year: 
 (a) the Average Actual Deferral Percentage for the group of Eligible Employees who are Highly Compensated Employees for the Plan Year will not exceed the Average Actual Deferral Percentage for the
group of Eligible Employees who are Non-Highly Compensated Employees for the Plan Year multiplied by 1.25; or 

  

			
	 Alcoa Savings Plan for Bargaining Employees
 Amended and Restated Effective as of January 1, 2010
	 	

 44 

 (b) the Average Actual Deferral Percentage for the group of Eligible Employees who
are Highly Compensated Employees for the Plan Year will not exceed the Average Actual Deferral Percentage for the group of Eligible Employees who are Non-Highly Compensated Employees for the Plan Year multiplied by two, provided that the Average
Actual Deferral Percentage for the group of Eligible Employees who are Highly Compensated Employees for the Plan Year does not exceed the Average Actual Deferral Percentage for the group of Eligible Employees who are Non-Highly Compensated Employees
by more than two percentage points. 
 (c) The Average Actual Deferral Percentage Test for all contributions to the ESOP
portion of the Plan will be computed separately under this Section. 
  

	6.	Special Rules. 

 (a)
Aggregation of Family Members. Effective January 1, 1997, aggregation of Family Members for purposes of determining the Actual Deferral Percentage will no longer apply. 

(b) Aggregation of Plans. In the event that this Plan satisfies the requirements of Section 401(a)(4), 401(k) or 410(b) of
the Code only if aggregated with one or more other plans, or if one or more other plans satisfy the requirements of such sections of the Code only if aggregated with this Plan, then the provisions stated herein will be applied by determining the
Actual Deferral Percentages of Employees as if all such plans (excluding other ESOPs) were a single plan. For plan years beginning after December 31, 1989, plans may be aggregated in order to satisfy Section 401(k) of the Code only if they
have the same plan year. Notwithstanding the foregoing, certain plans will be treated as separate if mandatorily disaggregated under regulations under Section 401(k) of the Code. 

(c) Effective as of January 1, 2002, in the event the Plan does not pass the ADP test, the test will be disaggregated by
removing from the test all participants who have not attained age 21 and completed one eligibility year within 6 months of the last day of the plan year. 

  

			
	 Alcoa Savings Plan for Bargaining Employees
 Amended and Restated Effective as of January 1, 2010
	 	

 45 

 (d) Effective with plan years after January 1, 2006, all ESOP portions of the
Savings Plan shall be aggregated for ADP with the Non-ESOP portions of the Savings Plan. 
 7. Treatment of Qualified Matching
Contributions. If any Qualified Matching Contributions are made on behalf of Eligible Employees for a Plan Year, Alcoa may elect, in accordance with the regulations of the Secretary of Treasury under Section 401(k) of the Code, to treat all
or a portion of such Qualified Matching Contributions as Pre-Tax Savings for purposes of calculating the Actual Deferral Percentages of Eligible Employees for the Plan Year. Any such Qualified Matching Contributions for a Plan Year must be made no
later than the end of the 12 month period immediately following the close of the Plan Year. 
  

	8.	Correction of Excess Contributions. 

 (a) General Rule. If the Plan does not satisfy one of the Average Actual Deferral Percentage tests of paragraph 5 of this Appendix as of the end of a Plan Year, the Excess Contributions for the
Plan Year will be corrected if the Excess Contributions for the Plan Year are timely recharacterized as employee After-Tax Savings contributions in accordance with subsection (c) below or timely distributed to Highly Compensated Employees in
accordance with subsection (d) below. 
 (b) Allocation of Excess Contributions. Effective for Plan Years beginning
after December 31, 1996, in the event the nondiscrimination requirements of paragraph 5 of this Appendix are not satisfied for a Plan Year, the “deferral percentage leveling method” described in the preceding paragraph is performed as
a first step in order to determine the total dollar amount of Excess Contribution to be distributed: a calculation is made to determine the dollar amount of Elective Deferrals necessary to reduce the deferral percentage of the Highly Compensated
Employee with the highest deferral percentage to be equal to the deferral percentage of the Highly Compensated Employee with the next highest deferral percentage, and where necessary, calculations are made to determine the dollar amounts of
reductions of the deferral percentage of subsequent Highly Compensated Employees that may be required in order to satisfy the nondiscrimination requirements in paragraph 5 of this Appendix. The total dollar amount of Excess Contribution that must be
distributed for the Plan Year is the sum of the dollar amounts so calculated for each Highly Compensated Employee whose deferral percentage is so reduced. 
 Distribution of the total amount of Excess Contribution determined in the paragraph above is made using the “dollar leveling method.” Excess Contributions of the Highly Compensated Employee with
the largest dollar amount of contributions for the Plan Year shall be distributed to the extent necessary to cause that Highly Compensated Employee’s dollar amount of Excess Contributions to equal the dollar amount of Excess Contributions of
the Highest Compensated Employee with the next highest dollar amount of Excess Contributions for the Plan Year. If the total amount distributed is less than the 

  

			
	 Alcoa Savings Plan for Bargaining Employees
 Amended and Restated Effective as of January 1, 2010
	 	

 46 

 
amount of total Excess Contribution, then both Highly Compensated Employees’ amounts are reduced to the same dollar level of the Highly Compensated Employee electing the third highest dollar
amount and the dollar leveling process is repeated until the total dollar amount that should be reduced as calculated in the above paragraph is distributed. However, if reduction of a lesser amount of contributions would equal the total dollar
amount of Excess Contributions that must be distributed for the Plan Year, the lesser amount is distributed. 
 A participant
who has had his contributions reduced in accordance with this subparagraph shall have the amount of such reduction paid to him in cash as soon as practicable, subject to applicable payroll taxes. The amount of the Excess Contributions to be
distributed shall be reduced by excess deferrals under 402(g) previously distributed for the Plan Year. The distributions of Excess Contributions shall include the income allocable thereto, including both the income allocable for the Plan Year for
which the Contributions were made and the income for the period between the end of that Plan Year and the date as of which the distribution is made. Effective January 1, 2008, the distribution of Excess Contributions shall include the income or
loss allocable only for the Plan Year of the Excess Contributions, and will not include the income or loss for the period between the end of the Plan Year and the date distribution is made. In addition, any Company Matching Contributions associated
with the Excess Contribution shall be treated as forfeiture and used to reduce the Employer’s contribution under Section 3 of the Plan. 
 (c) Recharacterization of Excess Contributions. Any recharacterization of Excess Contributions as employee After-Tax Savings will be accomplished by the Plan Administrator in the manner provided in
subsection (b) above within 2 1/2 months after
the close of the Plan Year, providing such notices and following such procedures as required by regulations of the Secretary of Treasury, and will be deemed to occur no earlier than the date on which the last Highly Compensated Employee is informed
in writing of the amount of his or her recharacterized Excess Contributions and the consequences thereof. Any Excess Contributions that are recharacterized as employee after-tax contributions for a Plan Year will, in combination with other
Participating Employer Contributions to the Plan for the Plan Year, satisfy the Average Contribution Percentage tests of paragraph 9 of this Appendix for the Plan Year. Any recharacterized Excess Contributions remain nonforfeitable under the Plan
and are subject to the same distribution requirements as Pre-Tax Savings. Recharacterized Excess Contributions are taxable to the Highly Compensated Employee for the year in which the Highly Compensated Employee could have originally elected to
receive the Excess Contributions amount in cash. 
 (d) Distribution of Excess Contributions. If any Excess
Contributions allocated to Highly Compensated Employees for a Plan Year are not corrected by recharacterization under (c) above, then such Excess Contributions, plus any income and minus any loss allocable thereto, will be distributed to Highly
Compensated Employees no later than 12 months following the close of the Plan Year. 

  

			
	 Alcoa Savings Plan for Bargaining Employees
 Amended and Restated Effective as of January 1, 2010
	 	

 47 

 (e) Income or Loss Allocable to Excess Contributions. The income or loss allocable to
the Excess Contributions referred to in subsection (d) above include the allocable income or loss for the Plan Year of the Excess Contributions and the allocable income or loss for the period between the end of the Plan Year and the
distribution of the Excess Contributions, calculated as follows: 
 The income or loss allocable for the Plan Year of the Excess
Contributions is determined by multiplying the total investment income or loss (including dividends, interest, realized gains or losses, and unrealized appreciation or depreciation) allocable to the Participant’s Pre-Tax Savings and amounts
treated as Pre-Tax Savings under paragraph 7 of this Appendix for the Plan Year by a fraction, the numerator of which is the Excess Contributions allocated to the Participant for the Plan Year, and the denominator of which is the total account
balance attributable to the Participant’s Pre-Tax Savings and amounts treated as Pre-Tax Savings under paragraph 7 of this Appendix as of the end of the Plan Year, reduced by the investment gain (or increased by the investment loss) allocated
to such total amount for the Plan Year. 
 Effective January 1, 2008, the income or loss allocable to the Excess
Contributions referred to in subsection (d) above will include only the income or loss allocable for the Plan Year of the Excess Contributions, and not the income or loss for the period between the end of the Plan Year and the distribution of
Excess Contributions. 
 (f) Coordination with Excess Pre-Tax Savings. The amount of any Excess Contributions to be
recharacterized under subsection (c) above or distributed under subsection (d) above with respect to any Highly Compensated Employee for a Plan Year is reduced by any excess Pre-Tax Savings previously distributed to the Highly Compensated
Employee for the employee’s taxable year ending with or within the Plan Year. 
 (g) Accounting for Excess
Contributions. The amount of Excess Contributions allocated to a Highly Compensated Employee for a Plan Year that is recharacterized under subsection (c) above or distributed under subsection (d) above is attributed first to the
Participant’s Pre-Tax Savings for the Plan Year and then, to the extent such Excess Contributions exceed the Participant’s Pre-Tax Savings for the Plan Year, attributed to amounts treated as Pre-Tax Savings under paragraph 4 of this
Appendix in proportion to the amounts of such contributions on behalf of the Participant for the Plan Year. 
 9. Average Contribution
Percentage Tests. For each Plan Year for which Participating Employer Contributions are made to the Plan (other than Qualified Matching Contributions treated as Pre-Tax Savings for the Plan Year under paragraph 7 of this Appendix) or any
After-Tax Savings are made to the Plan (including any Excess Contributions recharacterized as After-Tax Savings for the Plan Year under paragraph 8(c) of this Appendix), both the ESOP and non-ESOP portions of the Plan will satisfy one of the
following Average Contribution Percentage tests for the Plan Year: 
 (a) the Average Contribution Percentage for the
group of Eligible Employees who are Highly Compensated Employees for the Plan Year will not exceed the Average Contribution Percentage for the group of Eligible Employees who are Non-Highly Compensated Employees for the Plan Year multiplied by 1.25;
or 

  

			
	 Alcoa Savings Plan for Bargaining Employees
 Amended and Restated Effective as of January 1, 2010
	 	

 48 

 (b) the Average Contribution Percentage for the group of Eligible Employees who are
Highly Compensated Employees for the Plan Year will not exceed the Average Contribution Percentage for the group of Eligible Employees who are Non-Highly Compensated Employees for the Plan Year multiplied by two, provided that the Average
Contribution Percentage for the group of Eligible Employees who are Highly Compensated Employees for the Plan Year does not exceed the Average Contribution Percentage for the group of Eligible Employees who are Non-Highly Compensated Employees by
more than two percentage points. 
 (c) the Average Contribution Percentage Test applies separately to the ESOP portion
of the Plan. 
  

	10.	Special Rules. 

 (a)
Aggregation of Family Members. Effective January 1, 1997, aggregation of Family Members for purposes of determining the Contribution Percentage will no longer apply. 
 (b) Aggregation of Plans. In the event that this Plan satisfies the requirements of Section 401(a)(4), 401(m) or 410(b) of the Code only if aggregated with one or more other plans, or if one
or more other plans satisfy the requirements of such sections of the Code only if aggregated with this Plan, then the provisions stated herein will be applied by determining the Contribution Percentages of Employees as if all such plans were a
single plan. For plan years beginning after December 31, 1989, plans may be aggregated to satisfy Section 401(m) of the Code only if they have the same plan year. Notwithstanding the foregoing, certain plans will be treated as separate if
mandatorily disaggregated under regulations under Section 401(k) of the Code. 
 (c) Effective as of January 1,
2002, in the event the Plan does not pass the ACP test, the test will be disaggregated by removing from the test all participants who have not attained age 21 and completed one eligibility year within 6 months of the last day of the plan year.

  

			
	 Alcoa Savings Plan for Bargaining Employees
 Amended and Restated Effective as of January 1, 2010
	 	

 49 

 (d) Effective with plan years after January 1, 2006, all ESOP portions of the
Savings Plan shall be aggregated for ACP with the Non-ESOP portions of the Savings Plan. 
  

	11.	Treatment of Pre-Tax Savings as Participating Employer Contributions. 

 Alcoa may elect, in accordance with the regulations of the Secretary of Treasury under Section 401(m) of the Code, to treat all or a portion of the Pre-Tax Savings made on behalf of Eligible
Employees for a Plan Year as Participating Employer Contributions for purposes of calculating the Contribution Percentages of Eligible Employees for the Plan Year. Any such Pre-Tax Savings for a Plan Year must be made no later than the end of the 12
month period immediately following the close of the Plan Year. Notwithstanding the preceding, Alcoa may elect to treat Pre-Tax Savings as Participating Employer Contributions for purposes of calculating Contribution Percentages only if one of the
Average Actual Deferral Percentage Tests of paragraph 5 of this Appendix is satisfied before the Pre-Tax Savings are treated as Participating Employer Contribution for the Plan Year, and one of the Average Actual Deferral Percentage Tests of
paragraph 5 of this Appendix continues to be satisfied for the Plan Year excluding the Pre-Tax Savings treated as Participating Employer Contributions for the Plan Year. 

 

	12.	Correction of Excess Aggregate Contributions. 

 (a) General Rule. If the Plan does not satisfy one of the Average Contribution Percentages tests of paragraph 9 of this Appendix as of the end of a Plan Year, the Excess Aggregate Contributions for
the Plan Year will be corrected by the Employer if the Excess Aggregate Contributions for the Plan Year are forfeited or timely distributed to Highly Compensated Employees in accordance with subsection (c) below. 

(b) Allocation of Excess Aggregate Contributions. Effective as of January 1, 1997, in the event Excess Aggregate
Contributions are made to the Plan for a Plan Year, the Contribution Percentage for the Highly Compensated Employee with the largest dollar amount of deferrals for the Plan Year will be reduced to minimum extent necessary either: 

(i) to enable the Plan to satisfy one of the Average Contribution Percentage tests of paragraph 9 of this Appendix for the
Plan Year; or 
 (ii) to cause the Highly Compensated employee’s Contribution Percentage to equal the next
highest Contribution Percentage of any Highly Compensated Employee for the Plan Year. 
 This process is repeated until the Average Contribution
Percentage for the group of Eligible Employees who are Highly Compensated Employees for the Plan Year is sufficiently reduced to enable the Plan to satisfy one of the Average Contribution 

  

			
	 Alcoa Savings Plan for Bargaining Employees
 Amended and Restated Effective as of January 1, 2010
	 	

 50 

 
Percentage tests of paragraph 9 of this Appendix for the Plan Year. The amount of Excess Aggregate Contributions to be allocated to each Highly Compensated Employee for the Plan Year is equal the
total After-Tax Savings and Participating Employer Contributions, including Pre-Tax Savings on behalf of the Highly Compensated Employee for the Plan Year minus the amount determined by multiplying the Highly Compensated Employee’s reduced
Contribution Percentage (as determined above) by the employee’s Compensation for the Plan Year. Excess Aggregate Contributions of employees who are subject to the family aggregation rules of Section 414(q)(6) of the Code are allocated
among the family members in proportion to the Pre-Tax Savings and Matching Contributions (or amounts treated as Matching Contributions) of each family member that is combined to determine the combined Average Contribution Percentage. 

(c) Forfeiture or Distribution of Excess Aggregate Contributions. Excess Aggregate Contributions, plus any income or minus any
loss allocable thereto, must be forfeited to the extent attributable under subsection (f) below to Participating Employer Contributions that are not vested, and otherwise distributed to Highly Compensated Employees no later than 12 months
following the close of the Plan Year. 
 (d) Income or Loss Allocable to Excess Aggregate Contributions. The income or
loss allocable to the Excess Aggregate Contributions referred to in subsection (c) above include the allocable income or loss for the Plan Year of the Excess Aggregate Contributions and the allocable income or loss for the period between the
end of the Plan Year and the distribution of the Excess Aggregate Contributions, calculated as follows: 
 (i) the income or loss
allocable for the Plan Year of the Excess Aggregate Contributions is determined by multiplying the total investment income or loss (including dividends, interest, realized gains or losses, and unrealized appreciation or depreciation) allocable to
the Participant’s Participating Employer Contributions, and amounts treated as Participating Employer Contributions under paragraph 11 of this Appendix for the Plan Year by a fraction, the numerator of which is the Excess Aggregate
Contributions allocated to the Participant for the Plan Year, and the denominator of which is the total account balance attributable to the Participant’s Participating Employer Contributions and amounts treated as Participating Employer
Contributions under paragraph 11 of this Appendix as of the end of the Plan Year, reduced by the investment gain (or increased by the investment loss) allocated to such total amount for the Plan Year; 

(ii) the income or loss allocable to the period (if any) between the end of the Plan Year of the Excess Aggregate Contributions and the
distribution of the Excess Aggregate Contributions by the Plan is determined by multiplying the total investment income or loss allocated to the Participant’s Participating Employer Contributions and amounts treated as Participating Employer
Contributions under paragraph 11 of this Appendix for such period by a fraction determined under the 

  

			
	 Alcoa Savings Plan for Bargaining Employees
 Amended and Restated Effective as of January 1, 2010
	 	

 51 

 
method described in (i) above. In the alternative, the income or loss allocable to the period between the end of the Plan Year of the Excess Aggregate Contributions and the distribution of
the Excess Aggregate Contributions equals 10% of the income or loss allocable to the Participant’s Excess Aggregate Contributions for the Plan Year (as determined under (i) above multiplied by the number of calendar months that elapse
between the end of the Plan Year and the date of distribution. For these purposes, a distribution occurring on or before the fifteenth day of a calendar month is treated as having been made on the last day of the preceding calendar month, and a
distribution occurring after the fifteenth date of a calendar month is treated as having been made on the first day of the following calendar month. 
 Effective January 1, 2008, the income or loss will include only the income or loss allocable for the Plan Year of the Excess Aggregate Contributions, and not the income or loss for the period between
the end of the Plan Year and the distribution of Excess Aggregate Contributions. 
 (e) Coordination with Excess
Contributions. The determination of the amount of Excess Aggregate Contributions for a Plan Year is made after the determination of the amount of any Excess Contributions for the Plan Year. 

(f) Accounting for Excess Aggregate Contributions. The amount of Excess Aggregate Contributions allocated to a Highly Compensated
Employee for a Plan Year is attributed to Participating Employer Contributions and any amounts treated as Participating Employer Contributions in proportion to the amounts of such contributions on behalf of the Participant for the Plan Year.

  

	13.	Multiple Use of Alternative Limitation. 

 (a) In General. This paragraph 13 of this Appendix applies for any Plan Year if: 
 (i) any Eligible Employee who is a Highly Compensated Employee is eligible to participate in a plan maintained by the Employer (including this Plan) that is subject to the requirements of
Section 401(m) of Code because such plan accepts matching contributions or employee contributions for the plan’s plan year beginning with or within the Plan Year; 
 (ii) this Plan does not pass the 1.25 Average Actual Deferral Percentage Test of paragraph 5(a) of this Appendix for the Plan Year, and the Employer’s plan that is subject to the requirements of
Section 401(m) of the Code does not pass the 1.25 contribution percentage test of Section 401(m)(2)(A)(i) of the Code for the plan’s plan year beginning with or within the Plan Year; and 

  

			
	 Alcoa Savings Plan for Bargaining Employees
 Amended and Restated Effective as of January 1, 2010
	 	

 52 

 (iii) the sum of the Average Actual Deferral Percentage for all Eligible Employees who are
Highly Compensated Employees for the Plan Year, and the average contribution percentage (as defined in Section 401(m)(3) of the Code) for all Highly Compensated Employees who are eligible to participate in the Employer’s plan that is
subject to Section 401(m) of the Code for the plan’s plan year beginning with or within the Plan Year, exceeds the aggregate limit of subsection (b) below. 
 For purposes of this paragraph 13 of this Appendix, the Average Actual Deferral Percentage of Highly Compensated Employees for the Plan Year is determined after any corrective measures as described in
paragraph 8 of this Appendix are undertaken for the Plan Year. The average contribution percentage for all Highly Compensated Employees under the Employer’s plan that is subject to Section 401(m) of the Code is determined after any
corrective measures (including those described in paragraph 12 of this Appendix) are undertaken to satisfy the average contribution percentage tests of Section 401(m)(2) of the Code for the plan’s year beginning with or within the Plan
Year. 
 (b) Aggregate Limit. For purposes of this paragraph 13 of this Appendix, the term “aggregate limit”
means the sum of: 
 (i) 125 percent of the greater of (1) the Average Actual Deferral Percentage for Eligible Employees who
are Non-Highly Compensated Employees for the Plan Year or (2) the average contribution percentage (as defined in Section 401(m)(3) of the Code) for Non-Highly Compensated Employees who are eligible to participate in the Employer’s
plan that is subject to Section 401(m) of the Code for the plan’s plan year beginning with or within the Plan Year; plus 
 (ii) two plus the lesser of (1) or (2) above, provided that in no event may this amount exceed 200 percent of the lesser of (1) or (2) above. 

(c) Required Correction. In the event that the aggregate limit of subsection (b) is exceeded as of the end of any Plan Year,
the Employer reduces the Average Actual Deferral Percentage of those Highly Compensated Employees who also participate in the Employer’s plan that is subject to Section 401(m) of the Code (beginning with such Highly Compensated Employees
whose Actual Deferral Percentage is the highest) so that the aggregate limit is not exceeded. The amount by which each such Highly Compensated Employee’s Average Actual Deferral Percentage is reduced is determined in accordance with the
procedures of paragraph 8 of this Appendix, by treating the excess amount of Excess Contributions. 
 The multiple use test described in this
paragraph 13 of this Appendix and in Treasury Regulation Section 1.401(m)-2 will not apply for Plan Years beginning on or after January 1, 2002. 

  

			
	 Alcoa Savings Plan for Bargaining Employees
 Amended and Restated Effective as of January 1, 2010
	 	

 53 

	14.	Recordkeeping Requirements. 

 (a) Average Actual Deferral Percentage Tests. The Employer maintains records sufficient to demonstrate satisfaction of the Average Actual Deferral Percentage tests of paragraph 5 of this Appendix
for each Plan Year, and the extent to which any Qualified Matching Contributions are treated as Pre-Tax Savings under paragraph 7 of this Appendix for purposes of such tests. The determination of Eligible Employees’ Actual Deferral Percentages,
and the disposition of all Pre-Tax Savings (and any Qualified Matching Contributions treated as Pre-Tax Savings under paragraph 7 of this Appendix) on behalf of Participants, must satisfy such other requirements as may be prescribed by the Secretary
of Treasury. 
 (b) Average Contribution Percentage Tests. The Employer maintains records sufficient to demonstrate
satisfaction of the Average Contribution Percentage tests of paragraph 9 of this Appendix for each Plan Year, and the extent to which any Pre-Tax Savings are treated as Participating Employer Contributions under paragraph 11 of this Appendix for
purposes of such tests. The determination of Eligible Employees’ Average Contribution Percentages, and the disposition of all Participating Employer Contributions (and any Pre-Tax Savings) on behalf of Participants, must satisfy such other
requirements as may be prescribed by the Secretary of Treasury. 
 15. Distribution of Excess Elective Deferrals. Excess Elective
Deferrals means Pre-Tax Savings that is includible in a Participant’s gross income under Section 402(g) of the Code to the extent it exceeds the dollar limitation. Excess Elective Deferrals are treated as annual additions under the Plan
unless such amounts are distributed no later than the first April 15th following the close of the Participant’s taxable year. Excess Elective Deferrals are adjusted for any income or loss up to the date of distribution as calculated under
paragraph 8(e) and 12(d) of this Appendix. A Participant is deemed to notify the Plan Administrator of Excess Elective Deferrals that arise by taking into account only those Elective Deferrals made to this Plan and any other plans of the Employer. A
Participant may assign any Excess Elective Deferrals made by the Participant to any other plans other than those of the Employer by notifying the Plan Administrator on or before January 15th of the following year. 

  

			
	 Alcoa Savings Plan for Bargaining Employees
 Amended and Restated Effective as of January 1, 2010
	 	

 54 

 APPENDIX B 
 CODE SECTION 415 LIMITATIONS 
 The limitations imposed by Section 415 of the Code are
hereby incorporated by reference. If there is any discrepancy between the provisions of this Plan and the provisions of Code Section 415 and the regulations thereunder, the discrepancy will be resolved in such a way to give full effect to the
provisions of Code Section 415. 
 The maximum annual additions provided by the Plan will be exactly equal to the maximum amounts permitted
under Code Section 415 and the regulations thereunder. In the event a Participant’s annual additions for any Plan Year would exceed the maximum amount of annual additions permitted under Code Section 415, such Participant’s
Savings are automatically reduced, in whole or in part, by the amount required to eliminate such excess. 
 Effective for Plan Years beginning
on or after January 1, 2008, for purposes of applying the limitations described in this Appendix B, compensation will include any differential pay received by a Participant absent for military leave and any payment earned prior to a
Participant’s separation from employment that is paid within a period ending on the later of i) two and one-half months following the date the Participant separated from employment, or ii) the end of the Plan Year in which the date the
Participant separated from employment (“Post-Separation Compensation”). Post-Separation Compensation will include any payments for vacation, sickness, or leave of absence that otherwise would have been included as compensation had the
Participant remained employed. 

  

			
	 Alcoa Savings Plan for Bargaining Employees
 Amended and Restated Effective as of January 1, 2010
	 	

 55 

 APPENDIX C 
 TOP HEAVY RULES 
 (a) This Plan constitutes a “Top Heavy
Plan” for a Plan Year if as of the last day of the preceding Plan Year the present value of the cumulative account balances under the Plan for Participants who are Key Employees exceed 60 percent of the present value of the aggregate of all
account balances for all Participants in the Plan. A non-Key Employee means any Participant or former Participant who is not a Key Employee. 
 (b) This Plan constitutes a Top Heavy Plan for a Plan Year if the employee benefit plans which make up the group of plans of which this Plan is considered a part are such that, when aggregated, the
sum of (1) the present value of the account balances of Key Employees under all defined contribution plans in the group, and (2) the present value of the cumulative accrued benefits of Key Employees under all defined benefit plans in the
group exceed 60 percent of the sum of such amounts for all employees who participate in the plans in the said group. 
 (1) The
group of plans in which this Plan is considered a part includes (A) all plans of Alcoa, the Subsidiaries and Affiliates which enable the particular plans in which a Key Employee participates to meet the qualification requirement of
Section 401(a)(4) of the Code or Section 410 of the Code; and, (B) all plans which Alcoa, in its discretion, decides to include, provided that the inclusion of such plan or plans would not prevent the group of plans from meeting the
qualification requirements of Sections 401(a)(4) and 410 of the Code. The date upon which the account balances are valued for purposes of calculating the top heavy ratio to determine whether or not the Plan is Top Heavy for a particular Plan Year is
the determination date, which is the last day of the preceding Plan Year, or in the case of the first plan year of any plan, the last day of such plan year. 
 (2) Effective for Plan Years beginning on or after January 1, 2002, the amounts of account balances of an employee as of the determination date are increased by the distributions made with respect to
the employee under the plan and any plan aggregated with the plan under Section 416(g)(2) of the Code during the one-year period ending on the determination date. The preceding sentence also applies to distributions under a terminated plan
which, had it not been terminated, would have been aggregated with the plan under Section 416(g)(2)(A)(i) of the Code. In the case of a distribution made for a reason other than separation from service, death, or disability, this provision is
applied by substituting “five-year period” for “one-year period.” 
 (3) Effective for Plan Years beginning
on or after January 1, 2002, the accounts of any individual who has not performed services for the employer during the one-year period ending on the determination date are not taken into account. 

  

			
	 Alcoa Savings Plan for Bargaining Employees
 Amended and Restated Effective as of January 1, 2010
	 	

 56 

 (c) The following provisions are applicable to Participants for any Plan Year with
respect to which the Plan is Top Heavy: 
 (1) The minimum Participating Employer Contribution for a Participant who is a
non-Key Employee and has not separated from service at the end of the Plan Year must not be less than three percent of his or her Eligible Compensation for the Top Heavy Plan Year. If said allocation is less than three percent of his or her Eligible
Compensation, then said allocation is the largest percentage allocated to a Key Employee for the Top Heavy Plan Year. In the event the highest rate allocated to a Key Employee for the Top Heavy Plan Year is less than three percent, Pre-Tax amounts
contributed to the Plan are included in determining contributions made on behalf of Key Employees. Compensation for determining a minimum benefit, a minimum contribution and for all other Top Heavy purposes is the Participant’s W-2 earnings for
the calendar year that ends with the Plan Year. 
 Effective for Plan Years beginning on or after January 1, 2002,
Participating Employer Contributions used to satisfy the minimum contribution requirements are treated as Participating Employer Contributions for purposes of the actual contribution percentage test and other requirements of Section 401(m) of
the Code. 
 (2) With respect to benefits accruing during any Plan Year in which the Plan is Top Heavy, average compensation is
limited to amounts not in excess of the amount permitted under Section 401(a)(17) of the Code. If the accrued benefit as of the end of the last Plan Year before the Plan became Top Heavy is greater than the accrued benefit determined by
limiting compensation, that higher accrued benefit cannot be reduced. 
 (3) In the event the Plan is Top Heavy with respect to
a Plan Year and ceases to be Top Heavy for a subsequent Plan Year the Participant’s account balance in any such subsequent Plan Year is not less than the Participant’s Pre-Tax Savings (subject to adjustment for earnings) computed as of the
end of the most recent Plan Year for which the Plan was Top Heavy. 
 (d) Notwithstanding any of the above, if a non-Key
Employee participates in this Plan and a defined benefit pension plan included in a required aggregation group which is top heavy, a minimum allocation of five percent of Section 415 compensation is provided under this Plan. The Plan will not
be deemed Top Heavy if ninety percent is substituted for sixty percent in (b)(1) of this Appendix and Participating Employer provides additional contributions to the Plan on behalf of non-Key Employees who participate in both defined benefit and
defined contribution plans maintained by a Participating Employer, in amounts at least equal to the amount set forth in Paragraph (c)(1) of this Appendix as modified by substituting “seven and one-half percent” for “three
percent.” If the non-Key Employee does not participate in a defined benefit plan maintained by Alcoa, a Subsidiary or Affiliate, such employee will receive an additional contribution of four percent. 

  

			
	 Alcoa Savings Plan for Bargaining Employees
 Amended and Restated Effective as of January 1, 2010
	 	

 57 

 APPENDIX D 
 MINIMUM DISTRIBUTION REQUIREMENTS. 
 Section 1. General Rules 

1.1. Effective Date. The provisions of this Appendix D will apply for purposes of determining required minimum distributions for calendar years beginning
with the 2003 calendar year. 
 1.2. Precedence. The requirements of this Appendix D will take precedence over any inconsistent provisions of
the plan. 
 1.3. Requirements of Treasury Regulations Incorporated. All distributions required under this Appendix D will be determined and
made in accordance with Section 401(a)(9) of the Code and Treasury regulations §§1.401)(a)(9)-2 through -9, which will override any inconsistent distribution provisions of the Plan. Distribution of any incidental death benefit
requirements provided under the Plan will be a distribution for purposes of this Appendix D. 
 1.4. TEFRA Section 242(b)(2)
Elections. Notwithstanding the other provisions of this Appendix D, distributions may be made under a designation made before January 1, 1984, in accordance with section 242(b)(2) of the Tax Equity and Fiscal Responsibility Act (TEFRA) and the
provisions of the plan that relate to section 242(b)(2) of TEFRA. 
 Section 2. Time and Manner of Distribution. 

2.1. Required Beginning Date. The participant’s entire interest will be distributed, or begin to be distributed, to the participant no later than the
participant’s required beginning date. 
 2.2. Death of Participant Before Distributions Begin. If the participant dies before
distributions begin and there is a designated beneficiary, the participant’s entire interest will be distributed to the designated beneficiary by December 31 of the calendar year containing the fifth anniversary of the participant’s
death. If the participant’s surviving spouse is the participant’s sole designated beneficiary and the surviving spouse dies after the participant but before distributions to either the participant or the surviving spouse begin, this
election will apply as if the surviving spouse were the participant. This election will apply to all distributions. 
 If there is no designated
beneficiary as of September 30 of the year following the year of the participant’s death, the participant’s entire interest will be distributed by December 31 of the calendar year containing the fifth anniversary of the
participant’s death. 

  

			
	 Alcoa Savings Plan for Bargaining Employees
 Amended and Restated Effective as of January 1, 2010
	 	

 58 

 2.3. Forms of Distribution. Unless the participant’s interest is distributed in the form of an annuity
purchased from an insurance company or in a single sum on or before the required beginning date, as of the first distribution calendar year distributions will be made in accordance with sections 3 and 4 of this Appendix D. If the participant’s
interest is distributed in the form of an annuity purchased from an insurance company, distributions thereunder will be made in accordance with the requirements of section 40l(a)(9) of the Code and the Treasury regulations. 

Section 3. Required Minimum Distributions During Participant’s Lifetime. 
 3.1. Amount of Required Minimum Distribution For Each Distribution Calendar Year. During the participant’s lifetime, the minimum amount that will be distributed for each distribution calendar year is
the lesser of: 
 (a) the quotient obtained by dividing the participant’s account balance by the distribution period in the
Uniform Lifetime Table set forth in section 1.401(a)(9)-9 of the Treasury regulations, using the participant’s age as of the participant’s birthday in the distribution calendar year; or 

(b) if the participant’s sole designated beneficiary for the distribution calendar year is the participant’s spouse, the
quotient obtained by dividing the participant’s account balance by the number in the Joint and Last Survivor Table set forth in section 1.401(a)(9)-9 of the Treasury regulations, using the participant’s and spouse’s attained ages as
of the participant’s and spouse’s birthdays in the distribution calendar year. 
 3.2. Lifetime Required Minimum Distributions
Continue Through Year of Participant’s Death. Required minimum distributions will be determined under this section 3 beginning with the first distribution calendar year and up to and including the distribution calendar year that includes the
participant’s date of death 
 Section 4. Required Minimum Distributions After Participant’s Death. 

4.1. Death On or After Date Distributions Begin. 

(a) Participant Survived by Designated Beneficiary. If the participant dies on or after the date distributions begin and there is a designated
beneficiary, the minimum amount that will be distributed for each distribution calendar year after the year of the participant’s death is the quotient obtained by dividing the participant’s account balance by the longer of the remaining
life expectancy of the participant or the remaining life expectancy of the participant’s designated beneficiary, determined as follows: 

(1) The participant’s remaining life expectancy is calculated using the age of the participant in the year of death, reduced by one for each
subsequent year. 

  

			
	 Alcoa Savings Plan for Bargaining Employees
 Amended and Restated Effective as of January 1, 2010
	 	

 59 

 (2) If the participant’s surviving spouse is the participant’s sole designated beneficiary, the
remaining life expectancy of the surviving spouse is calculated for each distribution calendar year after the year of the participant’s death using the surviving spouse’s age as of the spouse’s birthday in that year. For distribution
calendar years after the year of the surviving spouse’s death, the remaining life expectancy of the surviving spouse is calculated using the age of the surviving spouse as of the spouse’s birthday in the calendar year of the spouse’s
death, reduced by one for each subsequent calendar year. 
 (3) If the participant’s surviving spouse is not the participant’s sole
designated beneficiary, the designated beneficiary’s remaining life expectancy is calculated using the age of the beneficiary in the year following the year of the participant’s death, reduced by one for each subsequent year. 

(b) No Designated Beneficiary. If the participant dies on or after the date distributions begin and there is no designated beneficiary as of
September 30 of the year after the year of the participant’s death, the minimum amount that will be distributed for each distribution calendar year after the year of the participant’s death is the quotient obtained by dividing the
participant’s account balance by the participant’s remaining life expectancy calculated using the age of the participant in the year of death, reduced by one for each subsequent year. 

4.2. Death Before Date Distributions Begin. 

(a) Participant Survived by Designated Beneficiary. If the participant dies before the date distributions begin and there is a designated beneficiary, the
minimum amount that will be distributed for each distribution calendar year after the year of the participant’s death is the quotient obtained by dividing the participant’s account balance by the remaining life expectancy of the
participant’s designated beneficiary, determined as provided in section 4.1. 
 (b) No Designated Beneficiary. If the participant dies
before the date distributions begin and there is no designated beneficiary as of September 30 of the year following the year of the participant’s death, distribution of the participant’s entire interest will be completed by
December 31 of the calendar year containing the fifth anniversary of the participant’s death. 

  

			
	 Alcoa Savings Plan for Bargaining Employees
 Amended and Restated Effective as of January 1, 2010
	 	

 60 

 (c) Death of Surviving Spouse Before Distributions to Surviving Spouse Are Required to Begin. If the
participant dies before the date distributions begin, the participant’s surviving spouse is the participant’s sole designated beneficiary, and the surviving spouse dies before distributions are required to begin to the surviving spouse
under section 2.2, this section 4.2 will apply as if the surviving spouse were the participant. 
 Section 5. Definitions.

 5.1. Designated beneficiary. The individual who is designated as the beneficiary under Section 22 of the plan and is the designated
beneficiary under section 40l(a)(9) of the Internal Revenue Code and section 1.401(a)(9)-1, Q&A-4, of the Treasury regulations. 
 5.2.
Distribution calendar year. A calendar year for which a minimum distribution is required. For distributions beginning before the participant’s death, the first distribution calendar year is the calendar year immediately preceding the
calendar year which contains the participant’s required beginning date. For distributions beginning after the participant’s death, the first distribution calendar year is the calendar year in which distributions are required to begin under
section 2.2. The required minimum distribution for the participant’s first distribution calendar year will be made on or before the participant’s required beginning date. The required minimum distribution for other distribution calendar
years, including the required minimum distribution for the distribution calendar year in which the participant’s required beginning date occurs, will be made on or before December 31 of that distribution calendar year. 

5.3. Life expectancy. Life expectancy as computed by use of the Single Life Table in section 1.401(a)(9)-9 of the Treasury regulations. 

5.4. Participant’s account balance. The account balance as of the last valuation date in the calendar year immediately preceding the distribution
calendar year (valuation calendar year) increased by the amount of any contributions made and allocated or forfeitures allocated to the account balance as of dates in the valuation calendar year after the valuation date and decreased by
distributions made in the valuation calendar year after the valuation date. The account balance for the valuation calendar year includes any amounts rolled over or transferred to the plan either in the valuation calendar year or in the distribution
calendar year if distributed or transferred in the valuation calendar year. 
 5.5 Required beginning date. The date specified in
Section 13(b) of the Plan. 

  

			
	 Alcoa Savings Plan for Bargaining Employees
 Amended and Restated Effective as of January 1, 2010
	 	

 61 

 SCHEDULE A 
 MERGERS, TRANSFERS, AND RESTATEMENTS 
 Transfer of Bargaining Hourly Employees at
Kawneer Chicago Service Center to Bargaining Savings Plan. 
 Effective February 1, 2010, the Hourly participants of Kawneer Company
at the Chicago Service Center who had become a bargaining unit of the International Association of Machinists and Aerospace Workers (IAM District 8, Lodge 48) transferred from coverage under the Alcoa Savings Plan for Subsidiary and Affiliate
Employees (“Subsidiary Savings Plan”) to coverage under this Plan. Pursuant to Section 20(d) (3) of the Plan, the accounts of the affected participants in the Subsidiary Savings Plan will be transferred to this Plan as soon as
administratively feasible. Effective October 1, 2010, the Hourly participants at the Chicago Service Center (Location Code CHX, Union Code 46X) commenced eligibility to receive ERIC, regardless of the participant’s Employment Commencement
Date or Reemployment Commencement Date. 

  

			
	 Alcoa Savings Plan for Bargaining Employees
 Amended and Restated Effective as of January 1, 2010
	 	

 62 

  

															
	 SCHEDULE B

Participating Employer Contributions (Match) and Employer Retirement Income Contributions (ERIC)

	 Company

Code
	  	 Company Description
	  	 LOC
	  	 Location Description
	  	Union
Code	  	 Union Description
	  	Match	  	 ERIC

Effective
Date

	R70	  	Alcoa Automotive -IAFC, Inc.	  	AIY	  	Auburn, Indiana (RAMCO)	  	1HY	  	USW 9463 - Steelworkers	  	1.0000	  	N/A
	010	  	Alcoa Inc.	  	ALC	  	Alcoa, Tennessee	  	193	  	USW 309 - SteelWorkers	  	0.5000	  	N/A
	010	  	Alcoa Inc.	  	ALC	  	Alcoa, Tennessee	  	401	  	BRKM5 -BrickMasons (ALC)	  	1.0000	  	N/A
	010	  	Alcoa Inc.	  	BAU	  	Bauxite, Arkansas	  	197	  	USW 4880 - SteelWorkers	  	0.5000	  	N/A
	010	  	Alcoa Inc.	  	CLE	  	Cleveland, Ohio	  	302	  	UAW 1050 -AutoWorkers (CLV)	  	0.5000	  	N/A
	010	  	Alcoa Inc.	  	CLE	  	Cleveland, Ohio	  	303	  	UAW 1050 -AutoWorkers hired or rehired on or after 4/1/2009	  	0.5000	  	Y
	010	  	Alcoa Inc.	  	CLE	  	Cleveland, Ohio	  	407	  	SPFPA International Union #145	  	0.2500	  	N/A
	010	  	Alcoa Inc.	  	CLE	  	Cleveland, Ohio	  	415	  	IAM 10 - Machinists (CLV)	  	0.0000	  	N/A
	010	  	Alcoa Inc.	  	CLE	  	Cleveland, Ohio	  	41A	  	IAM 5410 - Machinists (CLV) - Hired On/After 1/1/2010)	  	0.0000	  	Y
	010	  	Alcoa Inc.	  	DAN	  	Danville, Illinois	  	190	  	USW 201B-1 -SteelWorkers (DAN)	  	0.7000	  	N/A
	010	  	Alcoa Inc.	  	DAV	  	Davenport, Iowa	  	293	  	USW 105 - SteelWorkers	  	0.7500	  	N/A
	010	  	Alcoa Inc.	  	DAV	  	Davenport, Iowa	  	413	  	IBEW1379 - Electricians (DAV)	  	0.7500	  	N/A
	010	  	Alcoa Inc.	  	LAF	  	Lafayette, Indiana	  	294	  	USW 115 - SteelWorkers	  	0.7500	  	N/A
	010	  	Alcoa Inc.	  	MAS	  	Massena, New York	  	295	  	USW 420 - SteelWorkers	  	0.7500	  	N/A
	010	  	Alcoa Inc.	  	PTC	  	Point Comfort, Texas	  	196	  	USW 4370 - SteelWorkers	  	0.5000	  	N/A
	010	  	Alcoa Inc.	  	ROK	  	Rockdale, Texas	  	198	  	USW 4895 - Steelworkers	  	0.5000	  	N/A
	010	  	Alcoa Inc.	  	WAR	  	Warrick (Newburgh, In)	  	292	  	USW 104 - SteelWorkers	  	0.7500	  	N/A
	010	  	Alcoa Inc.	  	WEN	  	Wenatchee, Washington	  	1AT	  	USW 310A - SteelWorkers	  	0.7500	  	N/A
	010	  	Alcoa Inc.	  	WEN	  	Wenatchee, Washington	  	2AT	  	IBEW191 - Electricians	  	0.7500	  	N/A
	010	  	Alcoa Inc.	  	WEN	  	Wenatchee, Washington	  	3AT	  	IAM 1123 - Machinists	  	0.7500	  	N/A
	010	  	Alcoa Inc.	  	WEN	  	Wenatchee, Washington	  	4AT	  	SMW 66 - Sheet Metal Workers	  	0.7500	  	N/A
	010	  	Alcoa Inc.	  	WEN	  	Wenatchee, Washington	  	5AT	  	BACW3-BrckLyrs & Allied Crftsmn	  	0.7500	  	N/A
	837	  	Alcoa Power Generating, Inc.	  	BAD	  	Badin, North Carolina	  	192	  	USW 303 - SteelWorkers	  	0.5000	  	N/A
	837	  	Alcoa Power Generating, Inc.	  	NBG	  	Newburgh, Indiana	  	56Y	  	IBEW 702 - Electrian	  	0.8500	  	N/A
	837	  	Alcoa Power Generating, Inc.	  	TAP	  	Tapoco, North Carolina	  	193	  	USW 309 - SteelWorkers	  	0.5000	  	N/A
	985	  	Alumax Mill Products, Inc.	  	TXX	  	Texarkana, Texas (Alumax)	  	15X	  	USW 9448 - SteelWorkers	  	0.7500	  	N/A
	T13	  	Howmet Corporation	  	WMH	  	Whitehall, Michigan (Howmet)	  	30H	  	UAW 1243 – Auto Workers	  	0.5000	  	N/A
	T41	  	Huck International, Inc.	  	KNK	  	Kingston, New York (Huck)	  	40K	  	IAM 1562-Machnsts (KingstonNY)	  	0.5000	  	N/A
	979	  	Intalco Aluminum Corporation	  	FWX	  	Ferndale, Washington (AMX)	  	40X	  	IAM 2379 - Machinists(Intalco)	  	0.7500	  	N/A
	988	  	Kawneer Company, Inc.	  	BPX	  	Bloomsburg, PA (Kawneer)	  	60X	  	USW 10-0615 Paperworkers(BPX)	  	0.6000	  	N/A

  
 63 

															
	 SCHEDULE B
 Participating Employer Contributions (Match) and Employer Retirement Income Contributions (ERIC)

	 Company
Code
	  	 Company Description
	  	 LOC
	  	 Location Description
	  	Union
Code	  	 Union Description
	  	Match	  	 ERIC

Effective
Date

	988	  	Kawneer Company, Inc.	  	CHX	  	Chicago, Illinois(Alumax-FIX)	  	46X	  	IAM District 8, Lodge 48 – effective Feb. 1, 2010	  	0.5000	  	N/A
	  	  	  	  	  	Effective October 1, 2010, regardless of date of hire	  	0.5000	  	Y
	655	  	Pimalco, Inc.	  	CDL	  	Chandler, Arizona	  	137	  	USW 3937-9 -SteelWorkers(PIM)	  	0.0000	  	N/A
	  	  	  	  	  	Effective July 1, 2010	  	0.5000	  	N/A
	R01	  	Reynolds Metals Company	  	ABY	  	Arkadelphia, AR (RMC-GUMSPRG)	  	1CY	  	USW 5073 - Steelworkers	  	0.5000	  	N/A
	R01	  	Reynolds Metals Company	  	LLY	  	Lake Charles, LA (RMC Carb)	  	1KY	  	USW 211 - Steelworkers	  	0.7500	  	N/A
	R01	  	Reynolds Metals Company	  	MSY	  	Massena, New York (RMC St Law)	  	1NY	  	USW 450A - Steelworkers	  	0.7500	  	N/A
	R73	  	Reynolds Wheels Intl (VA)	  	LVY	  	Lebanon, Virginia (RMC Whls)	  	1AY	  	USW 1305 0 Steelworkers	  	0.7500	  	N/A

  
 64 

 SCHEDULE B 
 NEGOTIATED DEFERRAL CONTRIBUTIONS 
 (See Match/ERIC schedule above for
company restructuring and cessation of participation effective dates) 
  

									
	 Company
	  	Work
Location	  	 Location Description
	  	Union
Code	  	Amount
Per Hour
Worked
	010	  	DAV	  	Davenport, Iowa	  	293	  	0.536
	010	  	DAV	  	Davenport, Iowa	  	413	  	0.536
	010	  	LAF	  	Lafayette, Indiana	  	294	  	0.536
	010	  	MAS	  	Massena, New York	  	295	  	0.536
	010	  	WAR	  	Warrick (Newburgh, In)	  	292	  	0.536
	010	  	WEN	  	Wenatchee, Washington	  	1AT	  	0.536
	010	  	WEN	  	Wenatchee, Washington	  	2AT	  	0.536
	010	  	WEN	  	Wenatchee, Washington	  	3AT	  	0.536
	010	  	WEN	  	Wenatchee, Washington	  	4AT	  	0.536
	010	  	WEN	  	Wenatchee, Washington	  	5AT	  	0.536
	R01	  	LLY	  	Lake Charles, LA (RMC Carb)	  	1KY	  	0.536
	R01	  	MSY	  	Massena, NY	  	1NY	  	0.536

  
 65 

 SCHEDULE B 
 NEGOTIATED DEFERRAL CONTRIBUTIONS 
 Howmet Corporation (Company T13), Whitehall, MI (LOC
WMH, Union Code 30H): 
 Participants hired on or after January 1, 1999 only: 

$60.00 monthly automatic contributions effective June 1, 2008 

$65.00 monthly automatic contributions effective April 1, 2010 

$70.00 monthly automatic contributions effective April 1, 2011 

$75.00 monthly automatic contributions effective April 1, 2012 

  
 66 

 SCHEDULE B 
 RESTRICTED DISCRETIONARY CONTRIBUTIONS 
 There are currently no Restricted Discretionary
Contributions. 

  
 67 

 SCHEDULE B 
 RETIREE MEDICAL SAVINGS CONTRIBUTIONS 
 Pursuant to the 2010 Master Agreement and other
bargaining agreements that so provide, Participants in the bargaining units below whom on or after the date indicated are hired or rehired, and who are not eligible for retiree medical coverage under a health and welfare plan of Alcoa, a Subsidiary
or Affiliate with respect to their prior employment, will be eligible for Retiree Medical Savings Contributions described in Section 4(c): 
  

													
	 Company
Code
	  	 Company

Description
	  	 Location
(Loc)
	  	 Location Description
	  	Union
Code	  	Amount
Per Hour
Worked	  	 Effective Date

	837	  	Alcoa Power Generating	  	BAD	  	Badin, North Carolina	  	192	  	0.40	  	July 1, 2010
	837	  	Alcoa Power Generating	  	TAP	  	Tapoco, North Carolina	  	193	  	0.40	  	July 1, 2010
	010	  	Alcoa Inc.	  	ALC	  	Alcoa, Tennessee	  	193	  	0.40	  	July 1, 2010
	010	  	Alcoa Inc.	  	ALC	  	Alcoa, Tennessee	  	401	  	0.40	  	September 2, 2010
	010	  	Alcoa Inc.	  	BAD	  	Badin, North Carolina	  	192	  	0.40	  	July 1, 2010
	010	  	Alcoa Inc.	  	DAV	  	Davenport, Iowa	  	293	  	0.40	  	July 1, 2010
	010	  	Alcoa Inc.	  	DAV	  	Davenport, Iowa	  	413	  	0.40	  	August 16, 2010
	010	  	Alcoa Inc.	  	LAF	  	Lafayette, Indiana	  	294	  	0.40	  	July 1, 2010
	010	  	Alcoa Inc.	  	MAS	  	Massena, New York	  	295	  	0.40	  	July 1, 2010
	010	  	Alcoa Inc.	  	PTC	  	Point Comfort, Texas	  	196	  	0.40	  	July 1, 2010
	010	  	Alcoa Inc.	  	ROK	  	Rockdale, Texas	  	198	  	0.40	  	July 1, 2010
	010	  	Alcoa Inc.	  	WAR	  	Warrick (Newburgh, In)	  	292	  	0.40	  	July 1, 2010
	010	  	Alcoa Inc.	  	WEN	  	 Wenatchee,
 Washington
	  	1AT	  	0.40	  	July 1, 2010
	R01	  	Reynolds Metals Company	  	ABY	  	 Arkadelphia, AR
 (RMC-GUMSPRG)
	  	1CY	  	0.40	  	July 1, 2010
	R01	  	Reynolds Metals Company	  	LLY	  	 Lake Charles, LA
 (RMC Carb)
	  	1KY	  	0.40	  	July 1, 2010
	R01	  	Reynolds Metals Company	  	MSY	  	Massena, New York (RMC St Law)	  	1NY	  	0.40	  	July 1, 2010

 Alcoa Savings Plan for
Bargaining Employees 
 Amended and Restated Effective as of January 1, 2010 

  
 68

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00181-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00181-of-00352.parquet"}]]