Howmet Aerospace — Oct 30, 2025 release

All three major credit rating agencies rate Howmet Aerospace three notches into Investment Grade.   2025 Guidance     Q4 2025 Guidance   FY 2025 Guidance   Low Baseline High   Low Baseline High Revenue $2.090B $2.100B $2.110B   ~$8.175B ~$8.185B ~$8.195B           Baseline Change +~$55M   Adj. EBITDA *1 $605M $610M $615M   ~$2.370B ~$2.375B ~$2.380B Adj. EBITDA Margin *1 28.9% 29.0% 29.1%   29.0% 29.0% 29.0%           Baseline Change +~$55M +50 bps   Adj. Earnings per Share *1 $0.94 $0.95 $0.96   $3.66 $3.67 $3.68           Baseline Change +$0.07   Free Cash Flow 1         $1.275B $1.300B $1.325B           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 reconcilia