Deutsche Bank 5th Annual Global Industrials and

Basic Materials Conference

Chicago -

June 5, 2014

Exhibit 99.1

1

Forward-looking statements

Certain

statements

contained

in

this

press

release

may

constitute

forward-looking

statements

within

the

meaning

of

the

Private

Securities

Litigation

Reform

Act

of

1995.

This

press

release

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

certain

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.

Others

are

more

specific

to

our

business

and

operations.

These

risks

and

uncertainties

include,

but

are

not

limited

to,

those

set

forth

under

the

heading

“Risk

Factors”

in

our

Annual

Report

on

Form

20F,

and

described

from

time

to

time

in

subsequent

reports,

filed

with

the

U.S.

Securities

and

Exchange

Commission,

and

include

risks

relating

to

the

finalization

of

our

U.S.

Body-in-

White

joint

venture,

including

the

failure

to

receive

required

regulatory

approvals.

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

publicly

update

or

revise

any

forward-looking

statement

as

a

result

of

new

information,

future

events

or

otherwise,

except

as

required

by

law.

2

Non-GAAP measures

This

presentation

includes

information

regarding

certain

non-GAAP

financial

measures,

including

,

Adjusted

EBITDA,

Adjusted

EBITDA

per

metric

ton,

Adjusted

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,

Adjusted

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.

Business overview

3

1

Packaging &

Automotive

Rolled

Products

Aerospace &

Transportation

Automotive

Structures &

Industry

21%

43%

38%

Constellium at a glance

4

Aerospace

Market

growth

forecast

(1)

:

8%

Automotive

Market

growth

forecast

(2)

:

18%

Packaging

Market

growth

forecast

(3)

:

3%

Aerospace plates: #1 world-wide

Aluminum crash management systems: #2 world-wide

Major European player in auto body sheet

Can body stock: #1 Europe

Closures: #1 world-wide

2013

Adjusted

EBITDA

by

operating

segment

(4)

(1)

Source:

Airline

Monitor

February

2014.

Represents

2012-2017

CAGR

for

airplane

deliveries.

(2)

Source:

CRU

Automotive.

Reflects

2012-2015

CAGR

for

North

America

passenger

cars

and

Western

Europe

auto

body.

2013-2018

CAGR

for

auto

body

market

in

North

America

and

Western

Europe

estimated

at

31%.

(3)

Source:

CRU.

Represents

2013-2018

CAGR

for

Western

and

Eastern

Europe

can

stock

market.

(4)

Excludes

(1%)

of

Adjusted

EBITDA

from

corporate

entities.

Does

not

sum

to

100%

due

to

rounding.

A specialty metal fabricator focused on global commercial trends

Total 2013 Adjusted EBITDA: €280 million

5

Global aluminum

66 Mt

42 Mt

Rolled & extruded

Global aluminum fabrication market by production technology and product segment

GE plate & sheet

Litho sheet

Can body &

end stock

Proprietary

Aerospace

alloys

Aero plates

& sheets

Auto body sheet &

automotive structures

Brazing sheet

Speciality extrusions

Bright, closures,

other specialty

Constellium active

Constellium not active

Our

focus

Product segment

Our

focus

®

Focused on the high value-add products in our target markets

Note: Pyramid not to scale. Market and segment data as of 2012.

Source: Company information, CRU

12.5 Mt

Constellium’s product focus

Key credit highlights

Advanced

R&D

and

technological

capabilities

Leading

positions

in

attractive

and

balanced

end-markets

Global

network

of

efficient

facilities

Long-standing

relationships

with

a

diversified

and

blue-

chip

customer

base

Stable

business

model

Leading

supplier

of

high

value-add

aluminum

rolled

and

extruded

products

in

key

end-markets

and

geographies

Global

network

of

facilities

with

unique

manufacturing

capabilities,

allowing

Constellium

to

focus

on

higher

value-add

products

Ability

to

produce

high

value-add

products

creates

longer

term

and

synergistic

relationships

with

key

blue-chip

customers

World-class

R&D

capabilities

enable

Constellium

to

continue

growing

high

value-add

products,

creating

a

competitive

edge

versus

other

suppliers

Diverse

customer

base

with

10

largest

customers

representing

approximately

45%

of

revenues

with

average

length

of

relationships

with

Constellium’s

top

20

customers

exceeding

25

years

All

of

Constellium’s

major

packaging,

aerospace

and

automotive

customers,

including

its

top

five

customers,

have

multi-

year

contracts

and

approximately

58%

of

Constellium’s

2013

volumes

were

generated

under

multi-year

contracts

Business

model

is

designed

to

produce

stable

and

consistent

cash

flows

and

profitability

through:

A

limited

exposure

to

commodity

metal

price

volatility

(pass-through

contractual

arrangements

and

use

of

financial

derivatives

to

limit

commodity

exposure)

A

significant

presence

in

stable,

recession-resilient

end-markets

such

as

packaging

A

constant

focus

on

cost

optimization

to

lower

volume

breakeven

level

Constellium

has

a

broad

and

diversified

supplier

base

with

its

ten

largest

suppliers

representing

approximately

50%

of

its

total

purchases

as

of

December

31,

2013

Attractive

pipeline

of

growth

initiatives

Recently

announced

both

an

investment

to

expand

BiW

capacity

in

Europe

and

plan

to

establish

a

joint

venture

with

UACJ

Corporation

to

produce

BiW

in

North

America

Investments

in

auto

body

sheet

at

Neuf-Brisach

and

Singen

and

crash

management

systems

in

Germany,

US

and

China

Plans

for

new

casthouses

at

Issoire

will

accelerate

production

and

recycling

of

AIRWARE®

New,

expanded

contract

with

Boeing

entered

into

in

2013

Experienced

management

team

Deep

industry

experience

led

by

Pierre

Vareille

and

a

senior

management

team

averaging

more

than

15

years

of

relevant

industry

experience

6

Source: Company information

7

End-markets outlook

Aerospace

High-growth aerospace end-market driven by

increasing commercial aircraft deliveries and

demand for aluminum-intensive, wide body

aircraft

Airplane deliveries expected to grow at a 8%

CAGR from 2012 to 2017

Aerospace

Investments

to

meet

aerospace

cycle

volumes

Next-generation

AIRWARE®,

wing

skin

capabilities

and

sheet

capabilities

Announced

two

new

casthouses

at

Issoire

for

a

future

cash

outflow

of

€70m

(1)

to

accelerate

production

and

recycling

of

AIRWARE®

New,

expanded

contract

with

Boeing

End-market trends

Constellium response

Automotive

Compliance with both European and US CO2

emissions standards driving vehicle

lightweighting

Aluminum substitution expected to push

demand for aluminum in automotive to grow

at a 18% CAGR from 2012 to 2015

Packaging

Use of aluminum can stock increasing as a

percentage of overall cans sold in Europe

over the last decade

Increased

aluminum

market

share

expected

to

result

in

CAGR

of

3%

from

2013

to

2018

(3)

Automotive

Investments

in

auto

body

sheet

at

Neuf-

Brisach

and

Singen

Investments

in

crash

management

systems

in

Germany,

US

and

China

Recent

announcements

of

€200m

investment

in

European

BiW

capacity

as

well

as

planned

$150m

(2)

JV

for

US

BiW

production

Packaging

Upgrade

in

recycling

capabilities

at

Neuf-

Brisach

to

further

secure

supply

of

competitive

metal

units

(1)

Phase

II

investment

previously

announced

plus

new

Phase

III

acceleration.

(2)

Represents

total

expected

investment

by

UACJ

and

Constellium

in

the

joint

venture;

Constellium’s

attributable

portion

is

expected

to

be

51%.

(3)

Represents

CAGR

for

Western

and

Eastern

Europe

can

stock

market.

Source:

Company

information,

CRU

8

What we do in aerospace

Stringers, tubes and small

extrusions

Plate, wing skin and sheet

Source: Company information

We

are

a

critical

supplier

for

a

comprehensive

range

of

aluminum

products

to

our

aerospace

customers

Fuselage frames

Lower  wing skin panels

Upper wing skin panels

Fuselage panels

Wing spars

Seat tracks

Fuselage

stiffeners

Upper 

stringers

Lower

stringers

Floor beams

Center wing box

Landing

gear

Wing ribs

Forging stock and precision

castings

Demand is driven by:

Replacement

of

aging

fleets

Increasing

global

passenger

air

traffic

(particularly

in

emerging

markets)

Focus

on

“lightweighting”

of

aircraft

(increased

use

of

aluminum

in

a

wide

spectrum

of

aeronautical

applications

to

increase

fuel

efficiency

and

extend

normal

maintenance

periods)

The

aerospace

industry

is

expected

to

benefit

from

a

record

of

approximately

8

year

order

book

backlog

from

Airbus

and

Boeing

Adequate

available

financing

for

new

planes

Deliveries

of

planes

utilizing

material

AIRWARE®

volumes

expected

to

commence

in

2014

Growth drivers

Key

market

trends

in

aerospace

Strong

growth

in

aerospace

market

expected

over

the

coming

years

9

(1)

Includes

Boeing,

Airbus

and

BRJ.

Source:

Boeing

and

Airbus

publicly

available

information,

Airline

Monitor

February

2014.

Airplane order backlog (thousands)

Planes

with

material

AIRWARE®

utilization

(A350

and

C-Series)

Planes

with

low

or

no

AIRWARE®

utilization

2012-2017

jet

airplanes

deliveries

(1)

Our competitive position in aerospace

10

Source: Company information

Global leader with unique capabilities

Creating value-added products

Aerospace

plates:

#1

world-wide

Global

capability

One

of

only

two

players

with

dual

continent

footprint

World’s

most

powerful

stretcher

capable

of

producing

a

number

of

unique

parts

One

of

two

providers

of

wings

for

A380

Cutting-edge

lightweight

AIRWARE®

technology

5%

to

25%

weight

reduction

versus

other

aluminum

products

Reduced

maintenance

costs

Ability

to

achieve

high

build

rates

Currently

used

in

Bombardier

C

Series,

A350,

A380

and

Boeing

787

Due

to

our

competitive

differentiation,

we

are

less

impacted

by

the

overhang

reported

by

competitors

Constellium’s competitive differentiation

We

continue

to

take

market

share

from

our

competitors

Major

multi-year

contracts

signed

recently

with

Airbus

and

Boeing

Competitive

advantage

driven

by

dual

continent

footprint

and

R&D

capabilities

relative

to

competitors

Focus

on

high

margin

value-add

products;

demand

for

AIRWARE®

products

progressing

and

stronger

than

expected

Aerospace

business

is

secured

by

5-year

contracts,

with

limited

exposure

to

spot

prices

11

Crash

management

parts,

bumpers,

reinforcement

parts,

beams,

car

floors

Aluminum

extrusions,

castings

or

sheet

Auto structures

Auto body sheet

Doors,

hoods,

deck

lids,

fenders,

trunk

closure

(hang-on-parts)

Aluminum

sheet

Biggest

volume

potential

for

aluminum

Source: Company information

We

supply

high

specification

products

to

premium

automotive

OEMs

What we do in automotive

Western Europe auto body

Market penetration

Key market trends in premium automotive

12

(1)

Source:

European

Commission.

(2)

Source:

EEA

Aluminum

Penetration

in

Car.

(3)

Source:

Ducker

world-wide.

(4)

Source:

CRU.

Legislation

is

focused

on

reducing

CO2

emissions

Greatest

aluminum

opportunity

is

in

auto

body

sheet

and

bumpers

Creating significant expected growth in automotive aluminum demand

Substitution:

rolled

and

extruded

aluminum

products

are

replacing

heavier

steel

alternatives

% of each manufacturer’s newly registered cars required

to meet 130 gCO2/km target in Europe by 2015

(1)

Aluminum in European light vehicles (kg)

(3)

Aluminum demand for automotive (kt)

(4)

North America passenger cars

1,615

2,241

1,744

2,469

1,733

2,428

2013

2020

Our competitive position in premium automotive

13

A6/A7/A8/

Q3/TT

A/B/C/E/S/SL/CL(S)

Series 5/6

(1)  Car models are not exhaustive and are for illustrative purposes only.  (2)  Source: Company information.

We

supply

auto

body

sheet

mainly

to

premium

German

OEMs

(1)

Growth in premium automotive

Significant investment to support our strategy

Making us a supplier of choice to our customers

Aluminum crash management systems:

#2 world-wide

(2)

Major player in European rolled products for

auto body sheet

Facility

Description

Neuf-Brisach

France

Completed substantial investments in a heat

treatment and conversion line for 3 premium OEMs

Singen

Germany

Installed 40 MegaNewton press dedicated to

bumpers

Started to add auto body sheet capability to our

plant by revamping existing equipment

United States

Increased presence in Michigan aimed at producing

automotive structures for US OEMs

China

Majority owned joint venture

Well located cost effective plant provides global

customers with bumpers

Automotive is a substantial opportunity for Constellium

CAGR ’13-’20

+ 5%

+ 5%

+ 5%

BMW

Mercedes-Benz

Audi

Vehicle production (units)

Source: Company information

Source: LMC Automotive

58%

78%

42%

22%

2001

2013

European aluminum volumes

European tinplate volumes

Key market trends and our competitive position in packaging

14

(1)  Represents can body stock and can end and tabs.  (2)  Represents market share by volume of can body stock for Constellium in 2012.

Source: CRU, Company information

Increased

use

of

aluminum

in

Europe,

and

with

room

to

go

We

are

a

major

player

in

European

can

body

stock

(2)

Resulting

in

increased

aluminum

can

stock

consumption

(1)

Making

us

the

supplier

of

choice

to

blue-chip

customers

CAGR

2013-2018E

+3.3%

+5.4%

+2.6%

Closure stock: #1 world-wide

Can body stock: #1 Europe

Strong relationships with leading customers

% breakdown of cans sold

The leader in the stable, growing European can body stock market

Can stock consumption (kt)

35%

65%

Constellium's market share

Others' market share

636

724

199

260

836

984

2013

2018

Western Europe

Eastern Europe

Advanced R&D and technological capabilities provide leverage with customers

15

World-leading R&D capabilities

Long-term partnerships with European universities

World class R&D facility in Voreppe, France

260 FTEs including 85 scientists and 90 technicians

Approximately 900 active patents

Seek to integrate R&D with key customers

Innovation

Partner(s)

Description

Major

Aerospace OEM

Low density alloy suited for aircraft

primary structure

Surfalex

Next generation automotive body

sheet

Fusion bottle

Draw Wall Ironed (DWI) technology

Close partnership with our customers

Unique R&D capabilities provide a competitive advantage in high value-added products

®

Source: Company information

16

Aerospace

Automotive

Packaging

Source: Company information

Our customers’

businesses are driven by attractive secular trends

Diverse customer base with 10 largest customers representing approximately 45% of 2013

revenues with average length of relationships with Constellium’s top 20 customers exceeding

25 years

All

of

Constellium’s

major

packaging,

aerospace

and

automotive

customers,

including

its

top

five

customers, have multi-year contracts and approximately 58% of Constellium’s 2013 volumes were

generated under multi-year contracts

Long-standing relationships with a global, blue-chip customer base

Successful

cost

reductions

with

ongoing

productivity

improvement

opportunities

17

Our initial focus has been on containing costs

Continued focus on cash management

Our focus now is on productivity improvements

The right team to execute on improvement strategy

Track record of successful productivity

implementation and cost reductions

Efficiency opportunities

Contain fixed costs to offset inflation

Variabilize the cost structure

Continuous focus on cash management

Deployment of major LEAN transformation program

Reduce inventory through efficiency programs

Cycle-proof the business

During 2009 downturn with volumes down

18%, CSTM generated €181 million of cash

flow from continuing operations reflecting a

working capital improvement of €276 million

Cumulative cost savings (€m)

Active management of our costs and operations to drive earnings and margin expansion

Net trade working capital (€m)

Source: Company information

We run the business to be LME price independent

For approximately one-third of our volumes, customers pay the

same metal price we receive from our suppliers

For other sales, we use derivatives to manage our LME price risk

This provides stability and visibility on our margins and cash flows

Stable business model with limited commodity price and foreign exchange

exposure

18

Strong visibility into future volumes and managed exposure

Resilient

can

sheet

business

during

economic

downturn

providing

a

stable

base

of

cash

flows

Focus on protecting margins and cash flow

Our business model: long-term contracts and LME price independent

We have long-term contracts with customers in our three core end-markets:

Aerospace:

We

enter

into

5

year

contracts

with

our

largest

aerospace

customers

Automotive:

We

enter

into

life

of

model

contracts,

typically

5

to

7

years

Packaging:

The

majority

of

our

packaging

sales

in

2013

are

under

contracts

that

extend

until

2014

and

beyond

Minimize

exposure

to

LME

price

volatility

by

(i)

passing

through

the

aluminum

price

risk

to

customers

and

(ii)

using

derivatives

where

necessary

Exposed

to

foreign

currencies

as

we

operate

in

multiple

countries,

with

the

$/€

exchange

rate

as

the

main

financial

market

exposure

Hedge

all

committed

or

highly

probable

non

functional

currency

transactions

Source:

CRU

Source:

Company

information

Financial overview

19

2

Our business model

20

Profitability

We

are

a

value-added

leader

in

converting

aluminum

into

highly

profitable

products

Focus

on

selected

high-end

products

and

high-growth

markets

Secure

our

business

with

long-term

contracts

We

seek

to

maximize

Adjusted

EBITDA

over

the

long

run

A

portion

of

our

business

(P&ARP)

is

lower

margin,

but

stable

and

highly

predictable

while

resilient

during

periods

of

economic

downturn

Productivity

We

implement

productivity

and

cost

improvement

measures

to

grow

margins

We

actively

manage

working

capital

to

maximize

cash

flow

Risk

management

We

hedge

to

minimize

the

volatility

of

our

cash

flow

resulting

from

movements

of

LME

prices

and

foreign

exchange

rates

Our

business

model

enables

effective

hedging

against

metals

price

through

either

back

to

backs

or

financial

hedging

Financial

profile

Strong

pro

forma

liquidity

of

€751m

at

12/31/2013

Seeking

to

maintain

ample

minimum

liquidity

going

forward

Low

pro

forma

leverage

ratio

of

0.5x

(Net

Debt

/

2013

Adjusted

EBITDA)

(1)

Constellium

remains

committed

to

maintaining

a

conservative

capital

structure

Capital

investment

Disciplined

capital

investment

program

Announced

BiW

investments

in

Europe

and

US

for

€200m

and

$150m

(2)

,

respectively,

and

casthouse

investments

for

AIRWARE®

in

Europe

for

€70m

(3)

Our

business

model

is

to

add

value

by

converting

aluminum

into

unique,

highly

profitable

products

sought

after

by

customers

in

selected

markets

(1)

Net

Debt

reconciliation

can

be

found

in

the

appendix.

(2)

Represents

total

expected

investment

by

UACJ

and

Constellium

in

the

joint

venture;

Constellium’s

attributable

portion

is

expected

to

be

51%.

(3)

Phase

II

investment

previously

announced

plus

new

Phase

III

acceleration.

Source:

Company

information

Summary financials and capitalization

21

(1)  Net Debt reconciliation can be found in the appendix.

Source: Company information

Volumes (kt)

Leverage

(Debt

/

Adjusted

EBITDA)

(1)

Liquidity (€m)

Adjusted EBITDA (€m)

Profitability has significantly improved and is now in-line or ahead of peers, which has led to a dramatic

reduction in leverage

Adj. EBITDA/metric ton (€/t):

€147/t

€216/t

€

273/t

Q1

Q2

Q3

FY

Q1

Q2

Q3

FY

+22%

+3%

+64%

+26%

+24%

+4%

+61%

+26%

Adjusted EBITDA (€m)

Adjusted EBITDA / metric ton (€/t)

Consistent year over year improvement

Strong performance and consistent improvement in every quarter

Source: Company earnings reports

22

Q4

Q4

+40%

+40%

Summary segment historical performance

23

Source: Company information

A&T

P&ARP

AS&I

206

191

Vol. (kt)

224

244

+13%

+28%

+14%

+4%

+38%

+15%

Volumes up 9% year over year

primarily due to increased

aerospace shipments

Expect continued EBITDA growth

due to long-term contracts and

improving product mix going

forward

Despite volume decrease of 7%

year over year (due to

divestments), significantly

improved EBITDA on improved

demand for automotive products

Expect continued outperformance

due to strong projected demand

for automotive products

Despite relatively flat volumes

year over year, significantly

improved EBITDA on packaging

and increased demand for

automotive products

Expect further improvements on

the basis of steady can stock

pricing and demand for

automotive products

606

595

Growth projects

Capital spending plan (€m)

Investments and capital spending

(1)

Phase

II

investment

previously

announced

plus

new

Phase

III

acceleration.

(2)

Expected

equity

investment

in

planned

joint

venture.

(3)

Additional

investment

to

be

decided.

Source: Company earnings reports

24

Project

Location

Total capex

Timing

BiW

Europe

€200 million

2014-2018

AIRWARE®

Europe

€70 million

(1)

2014-2018

BiW

US JV

51% of $150 million

(2)

2014-2018

BiW

US

$50-100 million

(3)

2015-2018

Total growth projects

€380 million

2014-2018

Key credit highlights

25

Attractive pipeline

of growth

initiatives

Long-standing

relationships with

a diversified and

blue-chip

customer

base

Leading positions

in attractive and

balanced

end-markets

Advanced R&D

and technological

capabilities

Stable business

model

Global network of

efficient facilities

Experienced

management team

Q1 2014 Update

26

3

27

Q1 2014 Highlights

(% changes Q1 2014 vs Q1 2013)

Adjusted EBITDA of €71 million 

Strong automotive business drives 60% growth in Adjusted EBITDA in AS&I

and solid performance in P&ARP

AS&I achieves record Adjusted EBITDA of €20 million 

A&T results impacted by 5-day outage in the hotline at Ravenswood

Strong shipments of 269k metric tons, up 3%

Revenues: €883 million, up 7% on a like-for-like basis

Continued improvement in net trade working capital and days sales

outstanding

Q1 Highlights

28

Ratings

upgraded

one

notch

by

(Moody’s)

to

‘Ba3’

and

two

notches

by

(Standard &Poor’s) to ‘BB-’

Successfully completed bond offerings of $400 million and €300 million 

Selected Neuf Brisach, France facility for 100k metric ton body-in-white

expansion

Signed joint venture agreement with UACJ, for 100k metric ton body-in-white

expansion in the U.S., pending regulatory approvals

Announced

two

new

casthouses

for

our

AIRWARE®

aluminum

lithium

family

of

products

Q1 14 Segment Performance

Segment Adjusted EBITDA (€m)

Adjusted EBITDA per ton

29

59

61

+ 3 %

151

156

+ 3 %

+ 1 %

53

53

Shipments (kt)    

Shipments (kt)   

Shipments (kt)     

Significant improvement in Adjusted Free Cash Flow 

€

millions

Three Months ended

March 31, 2014

Three Months ended

March 31, 2013

Cash flow from operating activities

(4)

(47)

Margin calls included in cash flow from

operating activities

(11)

-

Cash flow from operating activities

excluding margin calls

(15)

(47)

Capital expenditure

(33)

(23)

Adjusted Free Cash Flow

(48)

(70)

30

Continued progress in reducing net trade working capital 

Q1 2014

29 DSOs

Q1 2013

39 DSOs

+€111m

+€65m

+€89m

Q1 2012

43 DSOs

31

€

millions

March 31, 2014

Total Debt

(*)

360

Cash and Cash Equivalents

179

Net Debt

181

Net Debt / LTM Adjusted EBITDA

0.7x

Liquidity

(**)

Liquidity -

Pro forma after new refinancing 

360

720

32

(*)  

Including fair value of cross currency interest swap and cash pledged for issuance of guarantees

(**)

Liquidity measured as the sum of Cash and Cash Equivalents and availability under long-term facilities

Strong balance sheet with enhanced liquidity 

Appendix

33

Global network of efficient facilities

34

Global network of 23 integrated facilities with unique manufacturing capabilities

Note: Headcount does not include temporary employees, except when otherwise noted.

(1)  Temporary employees only.  (2)  Novi only.

Source: Company information as of December 2013.

US

China

Europe

Ravenswood,

USA

Headcount: 1,000 

•

Worldwide unique assets for

aerospace plates

•

Recognized supplier to the

highly demanding defence

industry

•

Wide-coil capabilities and most

powerful stretcher worldwide

enabling unique product

creation

Changchun and

Kunshan, China

Headcount: 273

(1)

•

Joint venture with Engley,

majority owned by Constellium

•

The two cost effective plants

positioned locally provide its

global customers with bumpers

and other structural modules

Singen,

Germany

Headcount: 1,299 

•

Integrated hot/cold-rolling line

•

One of the largest extrusion

presses in the world

•

Advanced and highly

productive integrated bumper

manufacturing lines

Decin,

Czech Republic

Headcount: 544 

•

Europe’s largest hard alloys

extrusion plant

•

Low cost location

Voreppe,

France

Headcount: 260 

•

World-class R&D center

Sierre, Valais,

Switzerland

Headcount: 765 

•

Precision plate shop for general

engineering products

•

Leading large profile supplier for

high-speed train railway

manufacturers

•

Cast-houses in Steg

and

Chippis

•

Sierre

plate shop qualified at

Airbus by 2013 and Steg

cast

house by 2014

Issoire,

France

Headcount: 1,460 

•

One of the world’s two leading

aerospace plate mills, with

wingskin

capabilities

•

New AIRWARE®

cast house

for low density alloys

Neuf-Brisach,

France

Headcount: 1,403 

•

Second largest-volume, fully

integrated, rolling mill in Europe

•

Mostly can stock and

automotive sheet

•

World-class recycling center

Novi and van Buren,

Michigan, USA

Headcount: 141

(2)

•

Advanced and highly

productive integrated bumper

manufacturing lines

35

Constellium corporate structure

Source: Company information

Denotes guarantors under the new Unsecured

Revolving Credit Facility and the unsecured

notes offered hereby

Constellium

N.V.

(Netherlands)

Constellium

HoldCo

II B.V.

(Netherlands)

Constellium

Germany

Holdco GmbH & Co. KG

(Germany)

Constellium

France

Holdco SAS

(France)

Constellium US

Holdings I, LLC

(USA)

Constellium

Rolled

Products

–

Ravenswood, LLC

(USA)

Constellium

Deutschland

Constellium

Extrusions

Deutschland GmbH

(Germany)

GmbH

(Germany)

Constellium CRV

(France)

Constellium

France

(France)

New Unsecured Revolving Credit Facility

New unsecured notes offered hereby

U.S. Revolving

Credit Facility

German / Swiss Factoring

Agreement facility

Constellium

Extrusions

Decin

s.r.o

.

(Czech Republic)

Constellium

Finance

(France)

SAS

Constellium

Singen GmbH

(Germany)

Constellium

Switzerland AG

(Switzerland)

Constellium

Valais S.A.

(Switzerland)

French Factoring

Agreement facility

Constellium

Extrusions

France

(France)

Constellium

Aviatube

(France)

Non-GAAP Measures Reconciliations

36

Net income from continuing operations

€149

€96

Income tax expense

46

39

Income before income tax

€195

€135

Finance costs -

net

60

50

Other expenses/share of results of joint-ventures

8

24

Income from operations

€263

€209

Ravenswood benefit plan amendment

(58)

(11)

Swiss pension plan settlement

8

-

Ravenswood CBA renegotiation

7

-

Restructuring costs

25

8

Net losses on disposals

-

5

Unrealized (gains) on derivatives

(61)

(12)

Unrealized (gains) loss from the remeasurement of monetary assets and

liabilities

1

(2)

Depreciation, amortization and impairment

14

32

Management Adjusted EBITDA

€199

€229

Metal price lag

16

29

Other

8

22

Adjusted EBITDA

€223

€280

€

in millions

Adjusted EBITDA reconciliation Q4 2013

37

Year ended

December 31, 2012

Year ended

December 31, 2013

Source: Company information

38

Adjusted EBITDA Reconciliation Q1 2014

€

millions

Q1 2014

Q1 2013

Net income / (loss)

30

(2)

Income tax expense

16

6

Income before income tax

46

4

Finance costs -

net

9

25

Other expenses / share of results of joint-ventures

1

-

Income from operations

56

29

Depreciation and impairment

9

4

Unrealized losses/(gains) from remeasurement of monetary assets and liabilities

2

(2)

Unrealized losses on derivatives

1

34

Restructuring costs

3

2

Start-up and development costs

3

-

Gain on Ravenswood OPEB plan amendment

(8)

-

Metal lag

2

2

Other

3

4

Adjusted EBITDA

71

73

Net Debt reconciliation Q4 2013

39

Source: Company earnings reports

€

in millions

As of 12/31/2012

As of 12/31/2013

Borrowings

€158

€348

Fair value of cross currency interest rate

swap

14

26

Cash and cash equivalents

(142)

(233)

Cash pledged for issuance of

guarantees

(13)

(9)

Net Debt

€17

€132

40

Net Debt Reconciliation Q1 2014

€

millions

March 31, 2014

December 31, 2013

Borrowings

348

348

Fair value of cross currency interest swap

21

26

Cash and cash equivalents

(179)

(233)

Cash pledged for issuance of guarantees

(9)

(9)

Net Debt

181

132

41

Adjusted Free Cash Flow Reconciliation Q1 2014

€

millions

Three Months  

ended March 31,

2014

Three Months

ended March 31,

2013

Cash flow from operating activities

(4)

(47)

Margin calls included in cash flow from

operating activities

(11)

-

Cash flow from operating activities

excluding margin calls

(15)

(47)

Capital expenditure

(33)

(23)

Adjusted Free Cash Flow

(48)

(70)