Howmet Aerospace — Oct 30, 2025 release

Luther   Rob Morrison (412) 553-1950   (412) 553-2666 Paul.Luther@howmet.com   Rob.Morrison@howmet.com   Howmet Aerospace Reports Third Quarter 2025 Results Record Revenue, Growth Accelerated to 14% Year Over Year; Strong Profit; Record Cash from Operations $200 Million Deployed for Common Stock Repurchases; $63 Million Debt Reduction Full Year 2025 Guidance: Raised on All Metrics Full Year 2026 Revenue Guidance: Approximately $9 Billion, Up ~10% Year over Year   Third Quarter 2025 GAAP Financial Results   · Revenue of $2.09 billion, up 14% year over year, driven by Commercial Aerospace, up 15% · Operating Income Margin of 25.9%, up 300 basis points year over year · Net Income of $385 million versus $332 million in the third quarter 2024; Earnings per Share of $0.95 versus $0.81 in the third quarter 2024 · Generated $531 million of Cash from Operations; $314 million of Cash used for Financing Activities; and $104 million of Cash used for Investing Activities · Share repurchases of $200 million; paid $0.12 per share common stock dividend, a 20% increase from the second quarter 2025   Third Quarter 2025 Adjusted Financial Results   · Adjusted EBITDA excluding special items of $614 million, up 26% year over year · Adjusted EBITDA margin excluding special items of 29.4%, up 290 basis points year over year · Adjusted Operating Income Margin excluding special items of 25.9%, up 310 basis points year over year · Adjusted Earnings Per Share excluding special items of $0.95, up 34% year over year · Generated $423 million of Free Cash Flow   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 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% Adj. Earnings per Share *1 $0.94 $0.95 $0.96   $3.66 $3.67 $3.68 Free Cash Flow 1         $1.275B $1.300B $1.325B     * 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 “2025 Guidance” below.   1     Key Announcements   · Repurchased $200 million of common stock in third quarter 2025 at an average price of $182.20 per share · Repurchased an additional $100 million of common stock in October 2025 at an average price of $191.86 per share · Increased the third quarter dividend by 20% quarter over quarter to $0.12 per share on the Company’s common stock · Paid down remaining $63 million of the US dollar-denominated Term Loan in third quarter 2025, reducing annualized interest expense by approximately $4 million · S