Howmet Aerospace — Jul 31, 2025 release

EBITDA *1 $575M $580M $585M   $2.300B $2.320B $2.340B Adj. EBITDA Margin *1 28.5% 28.6% 28.7%   28.5% 28.5% 28.6%           Baseline Change +$70M + 50 bps   Adj. Earnings per Share *1 $0.89 $0.90 $0.91   $3.56 $3.60 $3.64           Baseline Change +$0.20   Free Cash Flow 1         $1.175B $1.225B $1.275B           Baseline Change +$75M   * Excluding Special Items 1 Reconciliations of the forward-looking non-GAAP financial measures to the most directly comparable GAAP financial 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, such as gains or losses on sales of assets, taxes, and any future restructuring or impairment charges. In addition, there is inherent variability already included in the GAAP measures, including, but not limited to, price/mix and volume. Howmet Aerospace believes such reconciliations would imply a degree of precision that would be confusing or misleading to investors.     Howmet Aerospace will hold its quarterly conference call at 11:00 AM Eastern Time on Thursday, July 31, 2025. The call will be webcast via www.howmet.com. The press release and presentation materials will be available at approximately 7:00 AM ET on July 31, via the “I