Third Quarter 2021 Earnings Call Tim Myers – Chief Executive OfficerErick Asmussen – Chief Financial Officer November 2, 2021

Important Information 2 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 as "anticipates," "believes," "could," "estimates," "expects," "forecasts," "goal," "guidance," "intends," "may," "outlook," "plans," "projects," "seeks," "sees," "should," "targets," "will," "would," or other words of similar meaning. All statements that reflect Arconic’s expectations, assumptions, projections, beliefs or opinions about the future, other than statements of historical fact, are forward-looking statements, including, without limitation, statements, relating to the condition of, or trends or developments in, the ground transportation, aerospace, building and construction, industrial, packaging and other end markets; Arconic’s future financial results, operating performance, working capital, cash flows, liquidity and financial position; cost savings and restructuring programs; Arconic's strategies, outlook, business and financial prospects; share repurchases; costs associated with pension and other postretirement benefit plans; projected sources of cash flow; potential legal liability; the potential impact of inflationary price pressures; the potential impact of the COVID-19 pandemic; the timing and levels of potential recovery from the COVID-19 pandemic within our end markets; and the impact of actions to mitigate the impact of the COVID-19 pandemic. These statements reflect beliefs and assumptions that are based on Arconic’s perception of historical trends, current conditions and expected future developments, as well as other factors Arconic believes are appropriate in the circumstances. Forward-looking statements are not guarantees of future performance, and actual results may differ materially from those indicated by these forward-looking statements due to a variety of risks, uncertainties and changes in circumstances, many of which are beyond Arconic’s control. Such risks and uncertainties include, but are not limited to: (a) continuing uncertainty regarding the duration and impact of the COVID-19 pandemic on our business and the businesses of our customers and suppliers including labor shortages and increased quarantine rates; (b) deterioration in global economic and financial market conditions generally; (c) unfavorable changes in the end markets we serve; (d) the inability to achieve the level of revenue growth, cash generation, cost savings, benefits of our management of legacy liabilities, improvement in profitability and margins, fiscal discipline, or strengthening of competitiveness and operations anticipated or targeted; (e) adverse changes in discount rates or investment returns on pension assets; (f) competition from new product offerings, disruptive technologies, industry consolidation or other developments; (g) the loss of significant customers or adverse changes in customers’ business or financial condition; (h) manufacturing difficulties or other issues that impact product performance, quality or safety; (i) the impact of pricing volatility in raw materials and inflationary pressures on our costs of production; (j) a significant downturn in the business or financial condition of a key supplier or other supply chain disruptions; (k) challenges to or infringements on our intellectual property rights; (l) the inability to successfully implement our re-entry into the U.S. packaging market or to realize the expected benefits of other strategic initiatives or projects; (m) the inability to identify or successfully respond to changing trends in our end markets; (n) the impact of potential cyber attacks and information technology or data security breaches; (o) geopolitical, economic, and regulatory risks relating to our global operations, including compliance with U.S. and foreign trade and tax laws, sanctions, embargoes and other regulations; (p) the outcome of contingencies, including legal proceedings, government or regulatory investigations, and environmental remediation and compliance matters; and (q) the other risk factors summarized in Arconic’s Form 10-K for the year ended December 31, 2020 and other reports filed with the U.S. Securities and Exchange Commission (SEC). The above list of factors is not exhaustive or necessarily in order of importance. Market projections are subject to the risks discussed above and in this presentation, and other risks in the market. The statements in this presentation are made as of the date of this presentation, even if subsequently made available by Arconic on its website or otherwise. Arconic disclaims any intention or obligation to update publicly any forward-looking statements, whether in response to new information, future events, or otherwise, except as required by applicable law.

Important Information (cont’d) 3 Non-GAAP Financial MeasuresSome of the information included in this presentation is derived from Arconic’s consolidated financial information but is not presented in Arconic’s financial statements prepared in accordance with accounting principles generally accepted in the United States of America (GAAP). Certain of these financial measures are considered “non-GAAP financial measures” under SEC rules. These non-GAAP financial measures supplement our GAAP disclosures and should not be considered an alternative to any measure of performance or financial condition as determined in accordance with GAAP, and investors should consider Arconic’s performance and financial condition as reported under GAAP and all other relevant information when assessing the performance or financial condition of Arconic. Non-GAAP financial measures have limitations as analytical tools, and investors should not consider them in isolation or as a substitute for analysis of the results or financial condition as reported under GAAP. Non-GAAP financial measures presented by Arconic may not be comparable to non-GAAP financial measures presented by other companies. Reconciliations to the most directly comparable GAAP financial measures and management’s rationale for the use of the non-GAAP financial measures can be found in the appendix to this presentation. Arconic has not provided reconciliations of any forward-looking non-GAAP financial measures, such as adjusted EBITDA, free cash flow, and adjusted free cash flow, to the most directly comparable GAAP financial measures because such reconciliations are not available without unreasonable efforts due to the variability and complexity with respect to the charges and other components excluded from the non-GAAP measures, such as the effects of metal price lag, foreign currency movements, gains or losses on sales of assets, taxes, and any future restructuring or impairment charges. These reconciling items are in addition to the inherent variability already included in the GAAP measures, which includes, but is not limited to, price/mix and volume. Arconic believes such reconciliations would imply a degree of precision that would be confusing or misleading to investors.

3Q 2021 Results Reflect Strong Market Fundamentals Profitability Improving Year over Year Sales of $1.9 billion, up 34% year over year (10% organically), and up 5% from prior quarterNet income of $16 million, or $0.15 per share, compared with $5 million, or $0.05 per share, in 3Q 2020Adjusted EBITDA of $171 million, up 4% year over year, and down 9% from prior quarter Labor Shortages and Energy Costs Impacting Results while Demand Remains Strong Labor shortages, energy costs, and weakness in automotive due to semiconductor chip supplyGrowth in industrial backlog of $60 million during the quarter should be worked down by year endInflation in alloying metals, energy prices, and freight costs being actively managed through price increases and other actionsKey end markets still expected to grow at a multiple of GDP Repurchasing Shares and Evaluating Opportunities as Free Cash Flow Grows Continuing to repurchase shares with ~3.1 million shares, or $106 million, through 3Q 2021Annual cash obligations (pension, OPEB, environmental) to be reduced by ~$250 million starting in 2022Increases in aluminum prices created pressure on working capitalDisciplined approach to organic investments funded by existing capital expenditure budget 4 See appendix for non-GAAP financial measure reconciliations.

3Q 2021 Sales Growth Led by Packaging Ground TransportationContinued strength in commercial transportation while automotive market continued to be affected by semiconductor shortagesAutomotive volumes declined 10% year over year in 3Q 2021 while North American light vehicle production was down 25% in the same period1Industrial Products and OtherDemand and pricing remain very strong globallyBuilding and ConstructionModest sales growth including price increases to offset inflationary costsPackagingGlobal packaging demand continues to be strong as can makers grow capacityNorth American can sheet production ramp in early phasesAerospaceModest recovery continues as supply chain destocks Sales in the quarter impacted by international freight delays IHS Markit North American Light Vehicle Production Forecast, October 2021.Organic revenue is a non-GAAP financial measure. Management believes this measure is meaningful to investors as it presents revenue on a comparable basis for all periods presented due to the impact of changes in aluminum prices, divestitures, and foreign currency fluctuations relative to the prior year period. See appendix for non-GAAP financial measure reconciliations. 5 End Market Revenue year- over-year change Organic revenue year-over-year change Revenue sequential change Ground Transportation 36% 7% 11% Industrial Products and Other 40% 21% (14%) Building and Construction 16% 7% 6% Packaging 64% 23% 18% Aerospace 7% (4%) 7% In 2019, Aerospace made up 18% of total revenue 3Q 2021 Organic Revenue2by End Market

3Q 2021 Financial Highlights Sales of $1.9 billion, up 34% year over year, up 5% from prior quarter, and up 10% organically year over yearNet income of $16 million, or $0.15 per share, compared with $5 million, or $0.05 per share, in 3Q 2020 Adjusted EBITDA of $171 million, up 4% year over year and down 9% from the prior quarterCash used for operations was $42 million and capital expenditures were $51 million, resulting in free cash flow use of $93 millionQuarter-end cash balance was $349 million with total available liquidity of approximately $1.1 billion and gross debt of $1.6 billion Adjusted EBITDA 1Q 2020 – 3Q 2021 ($M) 6 See appendix for non-GAAP financial measure reconciliations.

3Q 2021 Revenue and Adjusted EBITDA: Year-over-Year Growth Revenue Adjusted EBITDA $M Year-over-Year % $M Year-over-Year % 3Q 2020 $1,415 $165 Price 32 2% 32 19% Volume/Mix 123 9% 4 2% Net Savings - - 24 14% Temporary Cost Actions - - (34) -20% Aluminum Price 323 23% (11) -6% FX/Other (3) 0% (9) -5% 3Q 2021 $1,890 34% $171 4% 7 Temporary cash conservation actions impact to 3Q 2020 not recurring in 3Q 2021.Reflects BCS segment that does not pass through aluminum price, but offsets metal cost through increases in fixed price contracts.See appendix for non-GAAP financial measure reconciliations. 2 1

3Q 2021 Year-over-Year Segment Results Revenue Segment Adjusted EBITDA Drivers ($M) 3Q20 3Q21 3Q20 Price Volume/Mix Net Savings Temporary Cost Actions1 Other/ Aluminum 3Q21 Rolled Products $1,092 $1,559 $138 $18 $7 $19 ($18) ($9) $155 Year-over-year growth in ground transportation, industrial, and packaging, plus price benefits and productivity, more than offset negative impacts from inflation, mix, and 2020 temporary cost actions Year-over-year change 43%14% Organic 12% Building and Construction Systems $241 $257 $40 $12 ($2) - ($5) ($11) $34 Lower volume, labor shortages, higher material and transportation costs, and 2020 temporary cost actions partially offset by price increasesOther reflects increase of metal price that is not passed through but offset over time through price increases Year-over-year change 7%2% Organic (15%) Extrusions $82 $74 ($6) $2 ($1) $6 ($8) - ($7) Destocking in aerospace and 2020 temporary cost actions partially offset by productivity and price increases Year-over-year change (10%)(23%) Organic (17%) 8 Temporary cash conservation actions impact to 3Q 2020 not recurring in 3Q 2021.See appendix for non-GAAP financial measure reconciliations.

Ground TransportationOrganic revenue growth of ~20-25% (previously ~25-30%) year over year revised downward because of semiconductor supply chain challenges that persisted into 3Q 2021 Industrial Products and OtherOrganic revenue growth of ~25-30% year over year (unchanged) as market remains strong globally and Company has line of sight to reducing North American order backlog in 4Q 2021 Building and ConstructionOrganic revenue growth expected to be slightly positive year over year as non-residential construction market faces similar supply chain and cost inflation issues affecting many other end markets PackagingOrganic revenue growth of ~20-25% (previously ~15-20%) year over year due to the combination of strong global packaging markets and the acceleration of North American production into 2H 2021 AerospaceOrganic revenue expected to be down ~25-30% year over year as the supply chain destocks, but Company anticipates delivering year-over-year organic growth for 2H 2021 FY 2021 Organic Revenue Outlook Revisions Led by Packaging Growth FY 2021 Organic RevenueYear-over-Year Trajectory FY 2021 Outlook Compared to Prior Guidance 9 Prior Current Prior Current Prior Current Prior Current Prior Current

U.S. Labor Shortage and Increasing Quarantine Rates Creating Demand Backlog 10 Pandemic-related labor shortages and increased quarantine rates combined with supply chain constraints impacted ability to deliver expected profitability in the quarterThe Company currently has many salaried and hourly positions open globally with the vast majority in the U.S.Widespread hiring campaigns implemented in the quarter including an enhanced employee referral program and increased wagesLabor challenges drove the buildup of a more than $60 million industrial order backlog over normal levels Global Employees Quarantined TrendSince Beginning of Pandemic Despite strong demand, the COVID-19 Delta variant led to a spike in quarantined employees beginning in August, resulting in constrained production at certain U.S. rolling facilities 759 new hires in 3Q 2021 Enhanced Hiring Efforts Driving Headcount Growth (Net Employee Additions)

Rising Aluminum Prices Pressured Net Working Capital 11 As of: Dec 31,2020 June 30,2021 Sept 30,2021 ($M) Receivables from customers andOther receivables $759 $1,018 $1,074 Inventories 1,043 1,397 1,525 Accounts payable, trade 1,106 1,427 1,489 Net working capital $696 $988 $1,110 ($/metric ton) LME Aluminum price (cash) $1,978 $2,523 $2,851 Midwest premium (cash) 323 637 768 Total Midwest transaction price $2,301 $3,160 $3,619 Combined LME + Midwest Premium Price Reached All-Time High Levels Driving Working Capital PressureFor each $100/metric ton change in the aluminum price net working capital is impacted by approximately $20 millionAluminum price increased over $1,300/metric ton from YE2020 to 3Q 2021 end resulting in approximately $250-$300 million of working capital pressureMetal cost is passed through to customers and metal purchases are hedged to the timing of sales as well as in inventory YE2020$2,301 3Q21 End$3,619 10/15/21$3,935 LME + Midwest Premium (Midwest Transaction Price)2020-Present ($/metric ton) 2Q21 End$3,160 1Q21 End$2,681 +57% 10/29/21$3,399

Poised for Substantial and Sustainable Growth

Demand Growth in All End Markets 13 GROUND TRANSPORTATION INDUSTRIAL PRODUCTS AND OTHER BUILDING AND CONSTRUCTION PACKAGING AEROSPACE U.S. airline departures have returned to sequential growth as COVID-19 Delta variant wanesDestocking continues while Company has had three straight quarters of sequential growth U.S. market remains very strong and scrap spreads have moved favorablyAnnual U.S. imports of beverage cans increased more than 625% on a monthly basis from 2019 to 20215 5% CAGR North American Can Sheet Market Demand6 (B lbs) 1) CRU Group, updated August 2021. Data reported in kmt by CRU and converted to billions of lbs. 2) Derived from CRU Market Outlook dataset, August 2021. 3) Electrical, Consumer Durables, and Machinery & Equipment rolled products consumption derived from CRU Market Outlook dataset, August 2021; reported in kmt and converted to billions of lbs. 4) FMI, 2021 North American Engineering and Construction Outlook, Third Quarter Edition. 5) Aluminum Association Al Can Import Report, YTD July 2021. 6) Harbor Aluminum, US Aluminum Rolled Products Intelligence Report, February 2021. 7) Bloomberg combined Boeing and Airbus analyst consensus aircraft deliveries as of October 20, 2021. U.S. non-residential construction spend expected to return to modest growth in 2022 and accelerate starting in 20232021 non-residential spend outlook revised upward due to higher input costs European recovery slightly ahead of U.S. due to faster pace of decline in 2020 U.S. Non-Residential Construction Put in Place ($B)4 Light weighting vehicles and electric vehicle production continue growthU.S. auto dealer inventory levels fell to 24 days at 3Q21 end, which is less than half of normal levelsAuto makers need to produce more than 1.5 million vehicles for the U.S. market just to fill inventory gap Auto Body Sheet ConsumptionU.S. + Canada 2019-20241 (B lbs) 8% CAGR Approximately 77% of global aluminum rolled capacity is covered by some form of trade action2Common alloy conversion fees up 50%-60% year over year2 Industrial End MarketDriver Forecast3 (B lbs) 6% CAGR Boeing and AirbusEstimated Deliveries7 15% CAGR 6% CAGR

High-Return Investments Underway, Driven by Strong Demand 14 These and other potential under-rooftop investments capitalize on a strong position in growing markets served by the Company’s existing infrastructureLancaster Hot Mill UpgradeIncreases hot mill capacity and related equipment to support industrial and automotive marketsDavenport Casting Pit ExpansionIncreases casting and recycling capacity supporting automotive, industrial, and aerospace markets The two investments combined account for ~$75 million of run rate EBITDA starting in 2023 and will be completed within the capital budget target of 3% of annual revenue with IRRs meaningfully higher than 25% investment threshold Melt Furnace Lancaster Operations

Organic Growth and Increased Efficiency Driving Significant EBITDA Growth Above Previous Expectations 15 Compared with 2019 Adjusted EBITDA. Compared to December 31, 2019 utilization levels.Non-North American Rolling, Building and Construction, and Extrusions facilities. EBITDA GROWTH1 OPPORTUNITY BACKGROUND RUN RATE EXPECTED BY 600M lbs/yearIncremental Sales2 $100M-$120M Incremental North American rolling capacity being deployed roughly 50% in packaging and 50% across industrial and ground transportationPricing at high end of expected range 2H 2022  On Track Permanent Cost Out ~$100M Approximately $60 million realized in 2020Accomplished in 3Q 2021 2H 2021  Complete Productivity $70M-$80M Increased casting throughput, scrap utilization, shop floor productivity, and asset utilization3Approximately $40 million realized in 2020Actions to achieve $70M-$80M productivity savings complete, but impact offset by labor shortage and input cost inflation 2H 2021  Complete ~$75M Increases hot mill, casting, and recycling capacity at Lancaster and Davenport facilitiesCurrently underway and will be funded by existing capital expenditure budget YE 2023  On Track Lancaster and Davenport Upgrades

Improved Cash Conversion as Cash Payments Decline Substantially in 2022 Discount rates based on the 9/30/2021 yield curve, resulting in a weighted average discount rate of 2.91%.Net funded liability after 24% tax effect. Pension Contributions and OPEB andEnvironmental Payments ($M) More than $300 million annual reduction of legacy cash flow obligations expected from 2020 to 2022 Gross Pension and OPEB Liability ($B) Net After-Tax Pension and OPEB Liability ($B)2 1 2 $250reduction -37% -40% $250pensioncontribution ~$598 16

Updated FY 2021 Outlook 17 Assumes average annual LME aluminum price of $2,510/mt and Midwest Premium of $610/mt for the full year versus prior assumptions for LME of $2,330/mt and Midwest Premium of $540/mt.Arconic has not provided reconciliations of any forward-looking non-GAAP financial measures, such as adjusted EBITDA and free cash flow, to the most directly comparable GAAP financial measures because such reconciliations are not available without unreasonable efforts due to the variability and complexity with respect to the charges and other components excluded from the non-GAAP measures, such as the effects of metal price lag, foreign currency movements, gains or losses on sales of assets, taxes, and any future restructuring or impairment charges. These reconciling items are in addition to the inherent variability already included in the GAAP measures, which includes, but is not limited to, price/mix and volume. Arconic believes such reconciliations would imply a degree of precision that would be confusing or misleading to investors.At quarter end, combined LME plus Midwest Premium price had increased approximately $1,300/mt compared with year-end 2020 resulting in $250-$300 million of working capital pressure for full-year 2021. Excludes $250 million contribution to U.S. pension plans in connection with the April annuitization and approximately $348 million in other funding of legacy pension, OPEB, and environmental liabilities. Includes one-time expected working capital investment of over $250 million in 2021, which would reverse if commodity price pressures subside. ($M) Prior Updated Drivers Revenue1 $7,300 - $7,600 $7,500 - $7,700 Increased aluminum price Adjusted EBITDA2 $710 - $750 $710 - $730 Semiconductor impact on automotiveLabor shortagesInput cost increases Adjusted free cash flow2,3 ~$250 ~$50 Increased aluminum price impact on working capital

Continuing to Deliver Despite Headwinds 18 Profitability Growing and Returning Cash to ShareholdersAdjusted EBITDA increased 4% year over yearRepurchased nearly $100 million of sharesActions Underway to Address HeadwindsHiring efforts to reduce staffing challenges Price increases and supply agreements to mitigate input cost riskFree Cash Flow Trajectory and Investment Opportunities are Path ForwardAll markets expected to grow while legacy cash obligations declineExecuting on organic growth to capitalize on strong end markets with more opportunities under disciplined review

Appendix

20 ($M) Quarter ended September 30, June 30, September 30, 2021 2021 2020 Total Segment Adjusted EBITDA(1) $ 182 $ 200 $ 172 Unallocated amounts: Corporate expenses(2) (7) (10) (6) Stock-based compensation expense (8) (5) (6) Metal price lag(3) (21) (11) (16) Provision for depreciation and amortization (61) (62) (63) Restructuring and other charges(4) (14) (597) (3) Other(5) (3) (10) (14) Operating income (loss) 68 (495) 64 Interest expense (26) (25) (22) Other expenses, net (15) (15) (27) (Provision) Benefit for income taxes (11) 108 (10) Net income attributable to noncontrolling interest – – – Consolidated net income (loss) attributable to Arconic Corporation $ 16 $ (427) $ 5 Reconciliation of Segment Adjusted EBITDA Arconic’s profit or loss measure for its reportable segments is Segment Adjusted EBITDA (Earnings before interest, taxes, depreciation, and amortization). The Company calculates Segment Adjusted EBITDA as Total sales (third-party and intersegment) minus each of (i) Cost of goods sold, (ii) Selling, general administrative, and other expenses, and (iii) Research and development expenses, plus Stock-based compensation expense and Metal price lag (see footnote 3). Arconic’s Segment Adjusted EBITDA may not be comparable to similarly titled measures of other companies’ reportable segments.Total Segment Adjusted EBITDA is the sum of the respective Segment Adjusted EBITDA for each of the Company’s three reportable segments: Rolled Products, Building and Construction Systems, and Extrusions. This amount is being presented for the sole purpose of reconciling Segment Adjusted EBITDA to the Company’s Consolidated net income (loss).Corporate expenses are composed of general administrative and other expenses of operating the corporate headquarters and other global administrative facilities.Metal price lag represents the financial impact of the timing difference between when aluminum prices included in Sales are recognized and when aluminum purchase prices included in Cost of goods sold are realized. This adjustment aims to remove the effect of the volatility in metal prices and the calculation of this impact considers applicable metal hedging transactions.In the quarter ended June 30, 2021, Restructuring and other charges includes $568 related to the settlement of a portion of the Company’s U.S. defined benefit pension plan obligations as a result of the purchase of a group annuity contract and elections by certain plan participants to receive lump-sum benefit payments. In the quarter ended June 30, 2020, Restructuring and other charges includes $55 related to the settlement of a portion of the Company’s U.K. defined benefit pension plan obligation as a result of the purchase of a group annuity contract.Other includes certain items that impact Cost of goods sold and Selling, general administrative, and other expenses on the Company’s Statement of Consolidated Operations that are not included in Segment Adjusted EBITDA, including those described as “Other special items” (see footnote 4 to the Reconciliation of Total Company Adjusted EBITDA presented elsewhere in this Appendix).

21 ($M) Quarter ended September 30, 2021 June 30, 2021 March 31, 2021 December 31, 2020 September 30, 2020 June 30, 2020 March 31, 2020(1) Net income (loss) attributable to Arconic Corporation $ 16 $ (427) $ 52 $ (64) $ 5 $ (96) $ 46 Add: Net income attributable to noncontrolling interest – – – – – – – Provision (Benefit) for income taxes 11 (108) 16 (4) 10 (32) 27 Other expenses, net 15 15 22 1 27 16 26 Interest expense 26 25 23 21 22 40 35 Restructuring and other charges(2) 14 597 1 127 3 77 (19) Provision for depreciation and amortization 61 62 63 60 63 68 60 Stock-based compensation 8 5 2 5 6 5 7 Metal price lag(3) 21 11 (5) (3) 16 10 4 Other special items(4) (1) 7 5 8 13 11 18 Adjusted EBITDA $ 171 $ 187 $ 179 $ 151 $ 165 $ 99 $ 204 Sales $ 1,890 $ 1,801 $ 1,675 $ 1,462 $ 1,415 $ 1,187 $ 1,611 Adjusted EBITDA Margin 9.0% 10.4% 10.7% 10.3% 11.7% 8.3% 12.7% Arconic’s definition of Adjusted EBITDA (Earnings before interest, taxes, depreciation, and amortization) is net margin plus an add-back for the following items: Provision for depreciation and amortization; Stock-based compensation; Metal price lag (see footnote 3); and Other special items. Net margin is equivalent to Sales minus the following items: Cost of goods sold; Selling, general administrative, and other expenses; Research and development expenses; and Provision for depreciation and amortization. Special items are composed of restructuring and other charges, discrete income tax items, and other items as deemed appropriate by management. There can be no assurances that additional special items will not occur in future periods. Adjusted EBITDA is a non-GAAP financial measure. Management believes that this measure is meaningful to investors because Adjusted EBITDA provides additional information with respect to Arconic’s operating performance and the Company’s ability to meet its financial obligations. The Adjusted EBITDA presented may not be comparable to similarly titled measures of other companies.Prior to April 1, 2020, Arconic’s financial statements were prepared on a carve-out basis, as the underlying operations of the Company were previously consolidated as part of Arconic’s former parent company’s financial statements. Accordingly, the Company’s results of operations for the quarter ended March 31, 2020 were prepared on such basis. The carve-out financial statements of Arconic are not necessarily indicative of the Company’s consolidated results of operations had it been a standalone company during the referenced period. See the Combined Financial Statements included in each of (i) Exhibit 99.1 to the Company’s Form 10 Registration Statement (filed on February 7, 2020), (ii) the Company’s Annual Report on Form 10-K for the year ended December 31, 2019 (filed on March 30, 2020), and (iii) the Company’s Quarterly Report on Form 10-Q for the period ended March 31, 2020 (filed on May 18, 2020), for additional information. Reconciliation of Total Company Adjusted EBITDA

In the quarter ended June 30, 2021, Restructuring and other charges includes $568 related to the settlement of a portion of the Company’s U.S. defined benefit pension plan obligations as a result of the purchase of a group annuity contract and elections by certain plan participants to receive lump-sum benefit payments. In the quarter ended June 30, 2020, Restructuring and other charges includes $55 related to the settlement of a portion of the Company’s U.K. defined benefit pension plan obligation as a result of the purchase of a group annuity contract.Metal price lag represents the financial impact of the timing difference between when aluminum prices included in Sales are recognized and when aluminum purchase prices included in Cost of goods sold are realized. This adjustment aims to remove the effect of the volatility in metal prices and the calculation of this impact considers applicable metal hedging transactions.Other special items include the following:• for the quarter ended September 30, 2021, a partial reversal of a previously established reserve related to the Grasse River environmental remediation matter ($11), costs related to several legal matters ($7), and other items ($3);• for the quarter ended June 30, 2021, a write-down of inventory related to the idling of both the remaining operations at the Chandler (Arizona) extrusions facility and the casthouse operations at the Lafayette (Indiana) extrusions facility ($4) and costs related to several legal matters ($3);• for the quarter ended March 31, 2021, costs related to several legal matters, including Grenfell Tower ($4) and other ($1);• for the quarter ended December 31, 2020, costs related to several legal matters ($5) and other items ($3);• for the quarter ended September 30, 2020, costs related to several legal matters, including Grenfell Tower ($4) and other ($2), a write-down of inventory related to the idling of the casthouse operations at the Chandler (Arizona) extrusions facility ($5), and other items ($2);• for the quarter ended June 30, 2020, costs related to several legal matters, including a customer settlement ($5), Grenfell Tower ($3), and other ($3); and• for the quarter ended March 31, 2020, an allocation of costs incurred by Arconic’s former parent company associated with the April 1, 2020 separation of Arconic Inc. into two standalone publicly-traded companies. 22 Reconciliation of Total Company Adjusted EBITDA (cont’d)

23 Adjusted EBITDA to Adjusted Free Cash Flow Bridge ($M) Quarter ended September 30, 2021 June 30, 2021 March 31, 2021 December 31, 2020 September 30, 2020 June 30, 2020 Adjusted EBITDA(1) $171 $187 $179 $151 $165 $99 Change in working capital(2) (126) (51) (230) 130 185 1 Cash payments for: Environmental remediation (23) (4) (17) (28) (33) (4) Pension contributions(3) (3) (252) (201) (227) – (12) Other postretirement benefits (9) (10) (10) (14) (14) (13) Restructuring actions (2) (4) (5) (9) (5) (9) Interest (28) (22) (18) (21) (19) (5) Income taxes (4) (6) (6) (11) (3) (7) Capital expenditures (51) (44) (28) (37) (39) (29) Other (18) (5) 14 17 (36) (12) Free Cash Flow(4) $(93) $(211) $(322) $(49) $201 $9 Add-back cash payments for: Environmental remediation 23 4 17 28 33 4 Pension benefits(5) 5 254 203 229 2 14 Other postretirement benefits 9 10 10 14 14 13 Adjusted Free Cash Flow(6) $(56) $57 $(92) $222 $250 $40 Adjusted EBITDA is a non-GAAP financial measure. See Reconciliation of Total Company Adjusted EBITDA presented elsewhere in this Appendix for (i) Arconic’s definition of Adjusted EBITDA, (ii) management’s rationale for the presentation of this non-GAAP measure, and (iii) a reconciliation of this non-GAAP measure to the most directly comparable GAAP measure. Arconic’s definition of working capital is Receivables plus Inventories less Accounts payable, trade.In January 2021, the Company contributed a total of $200 to its two funded U.S. defined benefit pension plans, comprised of the estimated minimum required funding for 2021 of $183 and an additional $17. In April 2021, the Company contributed a total of $250 to its two funded U.S. defined benefit pension plans to maintain the funding level of the remaining plan obligations not transferred under a group annuity contract.Arconic’s definition of Free Cash Flow is Cash from operations less capital expenditures. Free Cash Flow is a non-GAAP financial measure. Management believes that this measure is meaningful to investors because management reviews cash flows generated from operations after taking into consideration capital expenditures, which are both necessary to maintain and expand the Company’s asset base and expected to generate future cash flows from operations. It is important to note that Free Cash Flow does not represent the residual cash flow available for discretionary expenditures since other non-discretionary expenditures, such as mandatory debt service requirements, are not deducted from the measure. 3Q 2021: Cash used for operations of $(42) less capital expenditures of $51 = free cash flow of $(93) 2Q 2021: Cash used for operations of $(167) less capital expenditures of $44 = free cash flow of $(211)1Q 2021: Cash used for operations of $(294) less capital expenditures of $28 = free cash flow of $(322) 4Q 2020: Cash used for operations of $(12) less capital expenditures of $37 = free cash flow of $(49)3Q 2020: Cash provided from operations of $240 less capital expenditures of $39 = free cash flow of $201 2Q 2020: Cash provided from operations of $38 less capital expenditures of $29 = free cash flow of $9Pension benefits are comprised of contributions to funded defined benefit plans and benefit payments to participants in unfunded defined benefit plans.Adjusted Free Cash Flow is a non-GAAP financial measure. Management believes that this measure is meaningful to investors because Adjusted Free Cash Flow provides an incremental view of the Company’s cash performance by excluding payments related to legacy liabilities.

Reconciliation of Organic Revenue by End Market 24 ($M)3Q20 Ground Transportation Building and Construction Aerospace Packaging Industrial Productsand Other Total Revenue $518 $283 $151 $198 $265 $1,415 3Q21 Revenue $706 $327 $162 $325 $370 $1,890 Less: Aluminum price impact 152 26 17 83 45 323 Foreign currency impact 2 (1) 0 (1) 4 4 Organic Revenue $552 $302 $145 $243 $321 $1,563 Organic revenue is a non-GAAP financial measure. Management believes this measure is meaningful to investors as it presents revenue on a comparable basis for all periods presented due to the impact of changes in aluminum prices and foreign currency fluctuations relative to the prior year period.

Reconciliation of Organic Revenue by Segment 25 Organic revenue is a non-GAAP financial measure. Management believes this measure is meaningful to investors as it presents revenue on a comparable basis for all periods presented due to the impact of changes in aluminum prices and foreign currency fluctuations relative to the prior year period. ($M) Quarter Ended September 30, 2020 2021 Total Revenue $1,415 $1,890 Less: Aluminum price impact n/a 323 Foreign currency impact n/a 4 Organic Revenue $1,415 $1,563 Rolled Products Revenue $1,092 $1,559 Less: Aluminum price impact n/a 310 Foreign currency impact n/a 2 Organic Revenue $1,092 $1,247 Building and Construction Systems Revenue $241 $257 Less: Aluminum price impact n/a 9 Foreign currency impact n/a 2 Organic Revenue $241 $246 Extrusions Revenue $82 $74 Less: Aluminum price impact n/a 4 Foreign currency impact n/a 0 Organic Revenue $82 $70

Legacy Pension and OPEB Cash Obligations Down Substantially 26 Annualized Asset Return Funded StatusYear 1(12/2021) Funded StatusYear 2(12/2022) Funded StatusYear 3(12/2023) Funded StatusYear 4(12/2024) 4% ($605M) ($609M) ($601M) ($592M) 6% ($588M) ($558M) ($518M) ($477M) 8% ($572M) ($508M) ($432M) ($357M) Annual U.S. Qualified Pension Contributions2 $450M3 $23M-$24M $32M-$35M $28M-$36M Annual non-U.S. and Other Pension Payments ~$18M ~$15M ~$15M ~$15M Annual OPEB Payments ~$35M ~$29M ~$28M ~$27M Estimated U.S. Pension Plan Funded Status1 Source: Buck & Mercer Investments, LLC.Discount rates based on the 6/30/2021 yield curve, resulting in a weighted average discount rate of 2.86%.Contributions assume asset returns of 4%-8% and minimum required contributions are paid when due in all years; all contributions payable during the year are made on the last day of the year; no potential risk management activity, such as annuitizations, are taken into account.Accelerated $200 million annual funding in January and made $250 million contribution in April related to partial U.S. pension annuitization All other assumptions, methods, plan provisions, and data are the same as those used for the December 31, 2020 financial disclosures. Expected Cash Contributions and Benefit Payments