Howmet Aerospace Announces Note Tender Early Results

Howmet Aerospace Inc. (“Howmet Aerospace” or the “Company”) (NYSE:HWM) announced today the early tender results for the Company’s previously announced tender offer (the “tender offer, or the “offer”) in respect of its outstanding 6.875% Notes due 2025 (the “Existing 2025 Notes”).

According to information received from Global Bondholder Services Corporation, the tender and information agent for the tender offer, as of 5:00 p.m., New York City time, on August 31, 2021 (which was the “early tender deadline”), the Company had received valid tenders from holders of the Existing 2025 Notes as outlined in the table below. Because the aggregate principal amount of Existing 2025 Notes that were validly tendered and not validly withdrawn at or prior to the early tender deadline exceeds the maximum aggregate principal amount of Existing 2025 Notes to be accepted in the tender offer, Howmet Aerospace expects to accept such Existing 2025 Notes for purchase on a pro rata basis, so as to not exceed the tender cap (with adjustments to avoid the purchase of Existing 2025 Notes in a principal amount other than in integral multiples of $1,000 or the return to any holders of an amount less than the minimum denomination).

Series of Notes	CUSIP Number/ISIN Number	Aggregate Principal Amount Outstanding	Tender Cap(1)	Principal Amount Tendered	Total Consideration (2)(3)	Proration Factor
6.875% Notes due 2025	443201AA6 / US443201AA64	$1,200,000,000	$600,000,000	$619,189,000	$1,175.00	0.96899990

(1)

Represents maximum aggregate principal amount of Existing 2025 Notes to be accepted for purchase by Howmet Aerospace, exclusive of accrued and unpaid interest. Due to proration mechanics, this will result in acceptance by Howmet Aerospace of $599,984,000 of Existing 2025 Notes. Such amount shall constitute the full Tender Cap under the tender offer (and the tender offer is hereby amended as necessary to so provide).