Second Quarter 2021 Earnings Call John Plant: Executive Chairman and Co-Chief Executive Officer Tolga Oal: Co-Chief Executive Officer Ken Giacobbe: EVP and Chief Financial Officer August 4, 2021 Important Information Forward–Looking Statements This presentation contains statements that relate to future events and expectations and as such constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include those containing such w ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended June 30, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number 1-3610 HOWMET AEROSPACE INC. (Exact name of registrant as specified in its charter) FORM 10-Q Delaware 25-0317820 (State of incorporation) (I.R.S. Employer Identification No.) 2 ...

First Quarter 2021 Earnings Call John Plant: Executive Chairman and Co-Chief Executive Officer Tolga Oal: Co-Chief Executive Officer Ken Giacobbe: EVP and Chief Financial Officer May 6, 2021 Important Information Forward–Looking Statements This presentation contains statements that relate to future events and expectations and as such constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include those containing such words ...

Howmet Aerospace, Inc. (NYSE:HWM) Q1 2021 Earnings Conference Call May 6, 2021 10:00 AM ET Company Participants Paul Luther - VP, IR John Plant - Executive Chairman & Co-CEO Tolga Oal - Co-CEO & Director Kenneth Giacobbe - EVP & CFO Conference Call Participants Seth Seifman - JPMorgan Chase & Co. Robert Spingarn - Crédit Suisse David Strauss - Barclays Bank Carter Copeland - Melius Research Gautam Khanna - Cowen and Company Robert Stallard - Vertical Research Partners Noah Poponak - Goldman Sachs Group Pare ...

☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended March 31, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number 1-3610 UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) HOWMET AEROSPACE INC. (Exact name of registrant as specified in its charter) Delaware 25-0317820 (State of incorporation) (I.R.S. Employer Identification No.) ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For The Fiscal Year Ended December 31, 2020 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number 1-3610 HOWMET AEROSPACE INC. (Exact name of registrant as specified in its charter) Delaware 25-0317820 (State of incorporation) (I.R.S. Employer Identification No. ...

Financial Data and Key Metrics Changes - Revenues improved by 9% compared to the third quarter but were down 29% year-over-year due to reductions in commercial aerospace [9][26] - Fourth quarter EBITDA margin was 22.8%, consistent with the fourth quarter of 2019, despite a 29% revenue decline [31][52] - Free cash flow for the fourth quarter was positive at $268 million, marking the third consecutive quarter of positive free cash flow since separation [11][13] - Full-year free cash flow as a percentage of net income was 115%, significantly above the guidance of approximately 90% [13][54] Business Line Data and Key Metrics Changes - Engine products revenue was down 33% year-over-year, with commercial aerospace down 58% but partially offset by a 30% increase in defense aerospace [38] - Fastening Systems revenue decreased by 30% year-over-year, with commercial aerospace down 38% [39] - Engineered Structures revenue was down 30% year-over-year, with commercial aerospace down 52% [40] - Forged Wheels revenue decreased by 6% year-over-year but increased by 18% sequentially, with operating profit margin reaching a record high of 30% [41] Market Data and Key Metrics Changes - Commercial aerospace revenue was down 51% year-over-year, while defense aerospace grew by 14% [36][26] - Commercial transportation was down 31% for the year but showed a strong recovery trend in the third and fourth quarters [36] - Industrial and other markets were flat year-over-year but up 12% sequentially, with industrial gas turbines (IGT) up 38% year-over-year [35] Company Strategy and Development Direction - The company is focused on permanent cost reductions and price increases, with structural cost reductions exceeding expectations [10][28] - The outlook for 2021 includes expectations for improved clarity in commercial aerospace as vaccine rollouts progress [56][58] - The company plans to maintain strict capital expenditure control and effective inventory management [17][18] Management's Comments on Operating Environment and Future Outlook - Management expressed caution regarding the commercial aerospace market due to ongoing inventory corrections and the impact of the pandemic [70][78] - The company anticipates a gradual recovery in commercial aerospace, with expectations for increased aircraft builds in 2022 and beyond [58][61] - Management highlighted the importance of solidifying commercial aerospace build rates before making aggressive share repurchases [118][120] Other Important Information - Special items for the quarter included a benefit of approximately $14 million after tax, primarily due to insurance proceeds [43] - The company reduced its U.K. gross pension liability by $320 million and net debt by approximately $370 million since separation [47][54] Q&A Session Summary Question: Can you provide more assumptions on Q1 and 2021 guidance? - Management indicated that Q1 revenue is expected to be in line with the average of the last three quarters, with caution around commercial aerospace due to ongoing uncertainties [68][70] Question: How much of a headwind will variable cost flexing and furloughs be in 2021? - Management acknowledged potential drag from bringing back furloughed employees but emphasized the importance of maintaining quality and delivery promises [87][88] Question: What is the status of the forged wheels transition to low-cost sourcing? - Management confirmed that the transition is ongoing, with additional benefits expected in the first half of 2021 [90][92] Question: How much inventory remains in the chain related to your products? - Management estimated that destocking will likely be completed by the end of Q2, with expectations for increased build rates in the second half of the year [100][102] Question: Can you walk us through the free cash flow expectations for 2021? - Management highlighted improvements in pension contributions and expected working capital to be a modest source of cash in 2021 [109][114]

Fourth Quarter 2020 Earnings Call John Plant: Executive Chairman and Co-Chief Executive Officer Tolga Oal: Co-Chief Executive Officer Ken Giacobbe: EVP and Chief Financial Officer February 3, 2021 Important Information Forward–Looking Statements This presentation contains statements that relate to future events and expectations and as such constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include those containing such ...

Third Quarter 2020 Earnings Call John Plant: Executive Chairman and Co-Chief Executive Officer Tolga Oal: Co-Chief Executive Officer Ken Giacobbe: EVP and Chief Financial Officer November 9, 2020 Important Information Forward–Looking Statements This presentation contains statements that relate to future events and expectations and as such constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include those containing such ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended September 30, 2020 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number 1-3610 HOWMET AEROSPACE INC. (Exact name of registrant as specified in its charter) Delaware 25-0317820 (State of incorporation) (I.R.S. Employer Identification N ...