Howmet Aerospace — Aug 6, 2026 release

Continued healthy cash generation will allow us to achieve pre-CAM leverage levels in short order, with the Company well positioned to consider all paths of capital deployment optionality going forward."   2026 Guidance       Q3 2026 Guidance     FY 2026 Guidance   Dollars in Millions; Per share amounts in dollars, diluted   Low     Baseline     High     Low     Baseline     High   Revenue   $ 2,565     $ 2,575     $ 2,585     $ 10,000     $ 10,050     $ 10,100                                 Baseline       +$ 400                                         Change                   Adj. EBITDA 1   $ 825     $ 830     $ 835     $ 3,210     $ 3,230     $ 3,250   Adj. EBITDA Margin 1     32.2 %     32.2 %     32.3 %     32.1 %     32.1 %     32.2 %                               Baseline       +$170                                         Change       + 40 bps           Adj. Earnings per Share 1   $ 1.34     $ 1.35     $ 1.36     $ 5.23     $ 5.27     $ 5.31                                 Baseline       +$ 0.33                                         Change                   Free Cash Flow 1                           $ 1,850     $ 1,900     $ 1,950                                 Baseline       +$ 150                                         Change                     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 f