Specialized Disclosure Report (Form SD)

United States

Securities and Exchange Commission

Washington, D.C. 20549

FORM SD

Specialized Disclosure Report

Alcoa Corporation

(Exact name of registrant as specified in its charter)

Molly S. Beerman

Executive Vice President and Chief Financial Officer

(412) 315-2900

(Name and telephone number, including area code, of person to contact in connection with this report)

Check the appropriate box to indicate the rule pursuant to which this Form is being submitted, and provide the period to which the information in this Form applies:

Section 2 - Resource Extraction Issuer Disclosure

Item 2.01 Resource Extraction Issuer Disclosure and Report

This Specialized Disclosure Form ("Form SD") of Alcoa Corporation is being filed in accordance with Rule 13q-1 under the Securities Exchange Act of 1934 for the reporting period ended December 31, 2025.

Report on payments to governments for the year ended December 31, 2025

This report provides disclosure of payments to governments made by Alcoa Corporation and its consolidated subsidiaries for the fiscal year ended December 31, 2025. All payments are reported in U.S. dollars. Payments that were made in currencies other than the U.S. dollar were converted to the U.S. dollar using exchange rates as of December 31, 2025.

Disclosure of Payments by Resource Extraction Issuers

The payment disclosure required by this Item 2.01 is included as Exhibit 2.01 to this Form SD.

Section 3 - Exhibits

Item 3.01 Exhibits

The following exhibits are filed as part of this report.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the duly authorized undersigned.