ATI and GE Aviation Announce Meltless Titanium Joint Venture

PITTSBURGH–(BUSINESS WIRE)–Allegheny Technologies Incorporated (NYSE: ATI), a global leader in the
production of technically advanced specialty materials and components,
today announced a joint venture (JV) with GE Aviation for the
development of a new meltless titanium alloy powder manufacturing
technology. The JV will construct a new R&D pilot production facility.
The titanium alloy powders are being developed for use in additive
manufacturing applications, including 3D printing.

ATI will provide operational, technical, and project support to the
joint venture. The joint venture will leverage ATI’s technology,
manufacturing, and quality leadership in the production of specialty
metal powders and premium-quality titanium and nickel-based alloys for
critical and technically advanced applications. The JV will also draw
upon GE Aviation’s engineering and development capabilities and
technical knowledge of the use of alloyed titanium powders.

“We are pleased to join with GE Aviation to create this innovative
next-generation technology joint venture,” said Rich Harshman, ATI’s
Chairman, President and Chief Executive Officer. “The science of
specialty metal powders is a transformative technology and we intend to
maintain and enhance our industry-leading position.”

“Developing new materials is an important part of our vision for our
business,” said David Joyce, vice chairman of GE and president and CEO
of GE Aviation. “ATI is a recognized leader in advanced specialty
materials, and we are excited about the collaboration this new joint
venture enables.”

This news release contains forward-looking statements within the meaning
of the Private Securities Litigation Reform Act of 1995. Forward-looking
statements are based on management’s current expectations and include
known and unknown risks, uncertainties and other factors, many of which
we are unable to predict or control, that may cause our actual results,
performance or achievements to materially differ from those expressed or
implied in the forward-looking statements. Additional information
concerning factors that could cause actual results to differ materially
from those projected in the forward-looking statements is contained in
our filings with the Securities and Exchange Commission. We assume no
duty to update our forward-looking statements.

Creating Value Thru Relentless Innovation™

ATI is a global manufacturer of technically advanced specialty materials
and complex components. With revenue of $3.2 billion for the
twelve-month period ending March 31, 2017, our largest market is
aerospace & defense, particularly jet engines. We also have a strong
presence in the oil & gas, electrical energy, medical, automotive, and
other industrial markets. ATI is a market leader in manufacturing
differentiated specialty alloys and forgings that require our unique
manufacturing and precision machining capabilities and our innovative
new product development competence. ATI produces nickel-based alloys and
superalloys, titanium alloys, specialty alloys, stainless steels, and
zirconium and other related alloys in many mill product forms. We also
are a leader in producing nickel-based alloy and titanium-based alloy
powders for use in next-generation jet engine forgings and 3D-printed
products. ATIMetals.com

About GE Aviation

With 84 facilities and 44,000 employees worldwide, GE Aviation, an
operating unit of GE (NYSE: GE), is a world-leading provider of jet and
turboprop engines, components, integrated digital, avionics, electrical
power and mechanical systems for commercial, military, business and
general aviation aircraft. GE Aviation has a global service network to
support these offerings and is part of the world’s Digital Industrial
Company with software-defined machines and solutions that are connected,
responsive and predictive. For more information, visit us at www.ge.com/aviation.
Follow GE Aviation on Twitter at http://twitter.com/GEAviation and
YouTube at http://www.youtube.com/user/GEAviation. GE
Additive, led by GE Vice Chairman David Joyce, is part of GE, the
world’s Digital Industrial Company, transforming industry with
software-defined machines and solutions that are connected, responsive
and predictive. GE is organized around a global exchange of knowledge,
the “GE Store,” through which each business shares and accesses the same
technology, markets, structure and intellect. Visit GE Additive at www.geadditive.com.

Contacts

For ATI:
Dan L. Greenfield, 412-394-3004
or
For GE
Aviation:
Rick Kennedy, 513-607-0609