Constellium : Analyst Day Presentation - Muscle Shoals, AL, USA - 2022

ANALYST DAY

Muscle Shoals, AL

April 6, 2022

2022 Analyst Day

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Important Information

Forward Looking Statements

Certain statements contained in this presentation may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. This presentation may contain "forward-looking statements" with respect to our business, results of operations and financial condition, and our expectations or beliefs concerning future events and conditions. You can identify forward-looking statements because they contain words such as, but not limited to, "believes," "expects," "may," "should," "approximately," "anticipates," "estimates," "intends," "plans," "targets," likely," "will," "would," "could" and similar expressions (or the negative of these terminologies or expressions). All forward-looking statements involve risks and uncertainties. Many risks and uncertainties are inherent in our industry and markets, while others are more specific to our business and operations. These risks and uncertainties include, but are not limited to: market competition; economic downturn; disruption to business operations, including the length and magnitude of disruption resulting from the global COVID-19 pandemic; the Russian invasion of Ukraine; the inability to meet customer demand and quality requirements; the loss of key customers, suppliers or other business relationships; supply disruptions; excessive inflation; the capacity and effectiveness of our hedging policy activities; the loss of key employees; levels of indebtedness which could limit our operating flexibility and opportunities; and other risk factors set forth under the heading "Risk Factors" in our Annual Report on Form 20-F, and as described from time to time in subsequent reports filed with the U.S. Securities and Exchange Commission. The occurrence of the events described and the achievement of the expected results depend on many events, some or all of which are not predictable or within our control. Consequently, actual results may differ materially from the forward-looking statements contained in this press release. We undertake no obligation to update or revise any forward-looking statement as a result of new information, future events or otherwise, except as required by law.

Non-GAAP Measures

This presentation includes information regarding certain non-GAAP financial measures, including VAR, Adjusted EBITDA, Adjusted EBITDA per metric ton, Free Cash Flow, NOPAT, Invested Capital, ROIC, and Net debt. These measures are presented because management uses this information to monitor and evaluate financial results and trends and believes this information to also be useful for investors. Adjusted EBITDA measures are frequently used by securities analysts, investors and other interested parties in their evaluation of Constellium and in comparison to other companies, many of which present an adjusted EBITDA-related performance measure when reporting their results. VAR, Adjusted EBITDA, Adjusted EBITDA per Metric Ton, Free Cash Flow, NOPAT, Invested Capital, ROIC, and Net debt are not measures made in accordance with IFRS and may not be comparable to similarly titled measures of other companies. These non-GAAP financial measures supplement our IFRS disclosures and should not be considered an alternative to the IFRS measures. This presentation provides a reconciliation of non-GAAP financial measures to the most directly comparable GAAP financial measures.

We are not able to provide a reconciliation of our Adjusted EBITDA and ROIC guidance to the comparable GAAP measures because certain items that are excluded from Adjusted EBITDA and from NOPAT (which is used in the calculation of ROIC) cannot be reasonably predicted or are not in our control. In particular, we are unable to forecast the timing or magnitude of realized and unrealized gains and losses on derivative instruments, metal lag, impairment or restructuring charges, or taxes without unreasonable efforts, and these items could significantly impact, either individually or in the aggregate, our net income in the future.

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Agenda

Topic

Presenter

Start Time

Introduction/ Sustainability

Jean-Marc Germain CEO

8:00AMP&ARP

Peter Basten* BU President

8:40AMAS&I

Philippe Hoffmann* BU President

9:05AM

Break

9:30AMA&T

Ingrid Joerg* BU President

9:45AMFinance

Peter Matt EVP and CFO

Q&A

Jean-Marc Germain + Peter Matt

10:10AM 10:35AM

Lunch, Plant Overview, and Plant Safety ReviewTravel to Muscle Shoals Plant

11:00AM 12:30PM

Plant Tour

1:00PM

*Includes 5-10 minutes for audience Q&A Note: All times CT

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INTRODUCTION

JEAN-MARC

GERMAIN

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Today's Key Messages

Compelling strategy with a track record of successful execution

Leverage closing in on 2.5x target, capital allocation priorities pivoting to growth and shareholder returns; significant opportunities ahead

Issuing long-term guidance of Adjusted EBITDA >€800M by 2025 and future Free Cash Flow of ~€300M; announcing

our 2030 sustainability targets

Note: Adjusted EBITDA and Free Cash Flow are non-GAAP financial measures. See Appendix for definitions of non-GAAP financial measures.

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