Howmet Aerospace — Aug 6, 2026 release

Luther Rob Morrison (412) 553-1950 (412) 553-2666 Paul.Luther@howmet.com    Rob.Morrison@howmet.com   Howmet Aerospace Reports Second Quarter 2026 Results Revenue up 24% Year over Year, Organic Growth 21% ; G AAP EPS $1.33, Adjusted EPS $1.33 Strong Second Quarter Cash Generation; $300 Million Deployed for Common Stock Repurchases Full Year 2026 Guidance Increased   Summary Financial Results       Second Quarter               Six Months         Dollars in Millions; Per share amounts in dollars, diluted   2026     2025       Change       2026     2025     Change     Revenue   $ 2,547     $ 2,053       24 %     $ 4,860     $ 3,995     22 %                                                       GAAP Metrics                                                   Operating Income   $ 711     $ 521       36 %     $ 1,464     $ 1,015     44 %   Operating Income Margin     27.9 %     25.4 %     250 bps       30.1 %     25.4 %   470 bps   Earnings per Share (EPS)   $ 1.33     $ 1.00       33 %     $ 2.77     $ 1.84     51 %   Cash from Operations   $ 583     $ 446       31 %     $ 1,036     $ 699     48 %                                                       Non-GAAP Metrics 1                                                   Adjusted EBITDA   $ 817     $ 589       39 %     $ 1,557     $ 1,149     36 %   Adjusted EBITDA Margin     32.1 %     28.7 %     340 bps       32.0 %     28.8 %   320 bps   Adjusted Operating Income   $ 733     $ 520       41 %     $ 1,399     $ 1,011     38 %   Adjusted Operating Income Margin     28.8 %     25.3 %     350 bps       28.8 %     25.3 %   350 bps   Adjusted Earnings per Share (EPS)   $ 1.33     $ 0.91       46 %     $ 2.56     $ 1.77     45 %   Free Cash Flow   $ 479     $ 344       39 %     $ 838     $ 478     75 %     1 For more information, see “Non-GAAP Financial Measures” and the schedules to this release.   Key Activity   · Completed acquisition of CAM on April 6, 2026 for approximately $1.8 billion · Paid down the Company's $186 million Japanese Yen-denominated term loan facility and entered into a separate $300 million cross-currency swap, reducing annualized interest expense by $12 million · Increased the third quarter common stock dividend by 17% to $0.14 per s hare   1     PITTSBURGH, PA, August 6, 2026 – Howmet Aerospace (NYSE: HWM) announced results today for the second quarter 2026.   Howmet Aerospace Execut