Howmet Aerospace — Nov 6, 2024 release

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 of common stock at an average price of $94.22 per share · Increased the common stock dividend by 60% to $0.08 per share · R