HWM Earnings

nt said, “The Howmet team delivered a strong start to 2026, with revenue, adjusted EBITDA, adjusted EBITDA margin, and adjusted earnings per share all exceeding the high end of guidance. Revenue growth accelerated to 19% year over year, driven by strong growth across our key end markets, and adjusted EBITDA margin expanded 320 basis points year over year to 32

e signs of demand improvement in commercial transportation, although we remain cautious.” "The beginning of 2026 was very active regarding the Howmet portfolio, and our updated guidance reflects these changes. We closed the CAM and Brunner acquisitions, adding revenue to Fastening Systems, while also divesting a disk forging business within Engineered Structur

e effect of the portfolio adjustments in the year's guidance adds approximately $275 million, and the EPS effect is insignificant in 2026 with accretion expected in 2027." 2026 Guidance Dollars in Millions; Per share amounts in dollars, diluted Q2 2026 Guidance FY 2026 Guidance Low Baseline High Low Baseline High Revenue $2,390 $2,400 $2,410 $9,575 $9,650 $9,7

ssumptions or projections about the future, other th an statements of historical fact, are forward - looking statements, including, without limitation, statements, forecasts and outlook relating to: the condition of markets; f utu re financial results or operating performance; future strategic actions; Howmet's strategies, outlook, and business and financial p

Growing Rapidly Off Small Base ▪ Outlook: Sharp increase in inbound quotation activity and parts requisitioning F - 35 Defense Aero F - 35 ~45% of Defense Aero Revenue in FY25 ▪ Outlook: F - 35 fleet expected to grow to 2,000+ by 2030 Other Non - Aero Defense Benefitting From Rebuild of Munitions Stockpiles ▪ Outlook: Increased Defense spend by governments glo

on Resistant, No Polishing High Value for Fleets MagnaForce® Proprietary Aluminum Forging A lloy 17% Stronger than Standard Alloy Suite of Design and Production Technologies The Outlook is Bright 52 48 50 #1 Global Brand Full Design Control Precision Assets Scale Financial Overview 51 Patrick Winterlich EVP and Chief Financial Officer 2020 – 2025: Commercial /

Forward-looking statements include those containing such words as “anticipates,” “believes,” “could,” “envisions,” “estimates,” “expects,” “forecasts,” “goal,” “guidance,” “intends,” “may,” “outlook,” “plans,” “poised,” “projects,” “seeks,” “sees,” “should,” “targets,” “will,” “would,” or other words of similar meaning.

Forward-looking statements include those containing such words as “anticipates,” “believes,” “could,” “envisions,” “estimates,” “expects,” “forecasts,” “goal,” “guidance,” “intends,” “may,” “outlook,” “plans,” “poised,” “projects,” “seeks,” “sees,” “should,” “targets,” “will,” “would,” or other words of similar meaning.

, assumptions or projections about the future, other than statements of historical fact, are forward-looking statements, including, without limitation, statements, forecasts and outlook relating to the closing of the offering of the Notes, the use of net proceeds therefrom, including statements regarding the Proposed CAM Acquisition and the expected financing,

proximately $55 million · Reduced gross pension obligation by approximately $125 million by annuitizing the remainder of the Company’s UK pension plan · FY 2026: Revenue growth guidance at approximately 10%, Expect improved profit and cash generation · Combined the revenue disclosure for the Industrial Gas Turbine and Oil & Gas markets into Gas Turbines PITTSB

lable 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 “2026 Guidance” below. 2 Fourth quarter 2025 Operating Income was $489 million, up 10% year over year. Fourth quarter Adjusted Operating Income excluding special items was $580, up 34% year o

, assumptions or projections about the future, other than statements of historical fact, are forward-looking statements, including, without limitation, statements, forecasts and outlook relating to the condition of markets; future financial results or operating performance; future strategic actions; Howmet Aerospace's strategies, outlook, and business and fina