Luther Rob Morrison (412) 553-1950 (412) 553-2666 Paul.Luther@howmet.com Rob.Morrison@howmet.com Howmet Aerospace Reports Third Quarter 2024 Results Revenue Up 11% Year Over Year; Strong Profit and Cash from Operations $282 Million Debt Reduction; $100 Million Deployed for Common Stock Repurchases 2025 Preliminary Revenue Guidance: Up Approximately 7.5% Year over Year Third Quarter 2024 GAAP Financial Results · Revenue of $1.84 billion, up 11% year over year, driven by commercial aerospace, up 17%, partially offset by commercial transportation, down 12% · Net income of $332 million versus $188 million in the third quarter 2023; earnings per share of $0.81 versus $0.45 in the third quarter 2023 · Operating income margin of 22.9% · Generated $244 million of cash from operations; $441 million of cash used for financing activities; and $80 million of cash used for investing activities · Share repurchases of $100 million; $0.08 per share dividend on common stock Third Quarter 2024 Adjusted Financial Results · Adjusted EBITDA excluding special items of $487 million, up 27% year over year · Adjusted EBITDA margin excluding special items of 26.5% · Adjusted operating income margin excluding special items of 22.8% · Adjusted earnings per share excluding special items of $0.71, up 54% year over year · Generated $162 million of free cash flow 2024 Guidance Q4 2024 Guidance FY 2024 Guidance Low Baseline High Low Baseline High Revenue $1.850B $1.870B $1.890B $7.390B $7.410B $7.430B Adj. EBITDA *1 $478M $488M $498M $1.885B $1.895B $1.905B Adj. EBITDA Margin *1 25.8% 26.1% 26.3% 25.5% 25.6% 25.6% Adj. Earnings per Share *1 $0.70 $0.71 $0.72 $2.65 $2.66 $2.67 Free Cash Flow 1 $890M $920M $940M * Excluding special items 1 Reconciliations of the forward-looking non-GAAP measures to the most directly comparable GAAP measures, as well as the directly comparable GAAP measures, are not available without unreasonable efforts due to the variability and complexity of the charges and other components excluded from the non-GAAP measures – for further detail, see “2024 Guidance” below. 1 Third Quarter Key Announcements · Redeemed the remaining outstanding principal amount of $205 million of its 5.125% Notes due October 2024 with cash on hand · Issued $500 million aggregate principal amount of notes due 2031 (the “2031 Notes”) · Redeemed the remaining outstanding principal amount of $577 million of its 6.875% Notes due May 2025 with proceeds from the 2031 Notes plus cash on hand · All combined debt actions year to date through the third quarter 2024 will reduce annualized interest expense by approximately $33 million · Repurchased $100 million o

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Text is the filed exhibit, verbatim.