Constellium : Presentation - Second Quarter 2021

Second Quarter 2021 Earnings Call

July 28, 2021

Forward-looking statements

Certain statements contained in this presentation may constitute forward-look ing statements within the meaning of the Private Securities

Litigation Reform Act of 1995. This presentation may contain "forward-look ing 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-look ing

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-look ing statements involve risks and uncertainties. Many risks and uncertainties are inherent in our industry and

mark ets, while others are more specific to our business and operations. These risks and uncertainties include, but are not limited to: mark et

competition; economic downturn; disruption to business operations, including the length and magnitude of disruption resulting from the

global COVID-19 pandemic; the inability to meet customer demand and quality requirements; the loss of key customers, suppliers or other

business relationships; 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-look ing statements contained in this

press release. We undertake no obligation to update or revise any forward-look ing statement as a result of new information, future events or

otherwise, except as required by law.

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Non-GAAP measures

This presentation includes information regarding certain non-GAAP financial measures, including Adjusted EBITDA, Adjusted EBITDA per

metric ton, Free Cash Flow 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. Adjusted EBITDA, Adjusted EBITDA

per Metric Ton, Free Cash Flow and Net debt are not presentations 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 Adjusted EBITDA guidance to net income, the comparable GAAP measure, because certain

items that are excluded from Adjusted EBITDA 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.

Second Quarter 2021 - Earnings Call

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Jean-Marc Germain

Chief Executive Officer

Q2 2021 Highlights

 Shipments: 406kt (+31% YoY)

 Revenue increased 47% YoY to €1.5 billion

 Net income: €108 million

 Record Adj. EBITDA of €170 million (+110% YoY; +2% vs. 2019)

 Record Adj. EBITDA in P&ARP and AS&I

 Cash from Operations of €73 million

 Free Cash Flow of €35 million

 H1 2021 FCF: €81 million

 Leverage of 3.7x at June 30, 2021

 Joined the Russell 2000® Index

Leverage

Leverage back to pre-pandemic level

Strong results; increasing 2021 Adjusted EBITDA guidance to €545-560 million

and FCF guidance to >€125 million

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