6-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16

UNDER THE SECURITIES EXCHANGE ACT OF 1934

For the month of October 2024

Commission File Number: 001-35931

Constellium SE

(Translation of registrant’s name into English)

Washington Plaza,	300 East Lombard Street
40-44 rue Washington	Suite 1710
75008 Paris	Baltimore, MD 21202
France	United States
(Head Office)

(Address of principal executive offices)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F: Form 20-F ☒ Form 40-F ☐

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): Yes ☐ No ☒

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): Yes ☐ No ☒

INFORMATION CONTAINED IN THIS FORM 6-K REPORT

Attached hereto as Exhibit 99.1 is a copy of the press release of Constellium SE (the “Company”), dated October 23, 2024, announcing its financial results for the period ended September 30, 2024.

Attached hereto as Exhibit 99.2 is a copy of a presentation of the Company, dated October 23, 2024, summarizing its financial results for the period ended September 30, 2024.

Exhibit Index

No.	Description
99.1	Press Release issued by Constellium SE on October 23, 2024.
99.2	Presentation posted by Constellium SE on October 23, 2024.

The information contained in Exhibit 99.1 of this Form 6-K (except for the paragraphs on page 2 containing certain quotes by the Chief Executive Officer, and the sections titled “Valais Update” and “Outlook”), is incorporated by reference into any offering circular or registration statement (or into any prospectus that forms a part thereof) filed by Constellium SE with the Securities and Exchange Commission. Exhibit 99.2 is not incorporated by reference.

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

	CONSTELLIUM SE (Registrant)
October 23, 2024	By:	/s/ Jack Guo
	Name:	Jack Guo
	Title:	Chief Financial Officer

EX-99.1

Exhibit 99.1

October 23, 2024

Constellium Reports Third Quarter 2024 Results

Paris - Constellium SE (NYSE: CSTM) (“Constellium” or the “Company”) today reported results for the third quarter ended September 30, 2024.

As a reminder of the press release issued on February 21, 2024 and following the SEC comment letter review process, Constellium will no longer report Value-Added Revenue (VAR), a Non-GAAP financial measure. In addition, the Company has revised its definition of consolidated Adjusted EBITDA, a Non-GAAP financial measure, to no longer exclude the non-cash impact of metal price lag from its consolidated Adjusted EBITDA. Constellium will continue to exclude the non-cash impact of metal price lag from its Segment Adjusted EBITDA, which it uses for evaluating the performance of its operating segments. Following the revision of its definition, consolidated Adjusted EBITDA, less the non-cash impact of metal price lag, is equal to consolidated Adjusted EBITDA prior to the revision of its definition. Constellium will continue to provide its investors and other stakeholders with the necessary information to explain the non-cash impact of metal price lag on its reported results.

Third quarter 2024 highlights:

• Shipments of 352 thousand metric tons, down 5% compared to Q3 2023

• Revenue of €1.6 billion, down 5% compared to Q3 2023

• Net income of €3 million compared to net income of €64 million in Q3 2023

• Adjusted EBITDA of €110 million

• Includes negative €17 million impact at Valais as a result of the flood

• Includes negative non-cash metal price lag impact of €3 million

• Segment Adjusted EBITDA of €61 million at P&ARP, €47 million at A&T, €10 million at AS&I, and €(4) million at H&C

• A&T and AS&I results include impact at Valais as a result of the flood

• Cash from Operations of €86 million and Free Cash Flow of €(10) million

• Includes negative €6 million impact at Valais as a result of the flood

• Repurchased 1.2 million shares of the Company stock for $21 million

Media Contacts
Investor Relations	Communications
Jason Hershiser	Delphine Dahan-Kocher
Phone: +1 443 988-0600	Phone: +1 443 420 7860
investor-relations@constellium.com	delphine.dahan-kocher@constellium.com
1

Nine months ended September 30, 2024 highlights:

• Shipments of 1.1 million metric tons, down 4% compared to YTD 2023

• Revenue of €5.2 billion, down 8% compared to YTD 2023

• Net income of €91 million compared to net income of €118 million in YTD 2023

• Adjusted EBITDA of €461 million

• Includes negative €17 million impact at Valais as a result of the flood

• Includes positive non-cash metal price lag impact of €26 million

• Segment Adjusted EBITDA of €168 million at P&ARP, €210 million at A&T, €75 million at AS&I, and €(17) million at H&C

• A&T and AS&I results include impact at Valais as a result of the flood

• Cash from Operations of €292 million and Free Cash Flow of €57 million

• Includes negative €6 million impact at Valais as a result of the flood

• Repurchased 3.1 million shares of the Company stock for $60.4 million

• Leverage of 2.8x at September 30, 2024

Jean-Marc Germain, Constellium’s Chief Executive Officer said, “Our team faced significant challenges in the third quarter, including increased demand weakness across several of our end markets, and the ongoing impact from the flood that occurred back in late June at our facilities in the Valais region in Switzerland. I am pleased to report that the clean-up and restoration is well underway and earlier this week we were able to partially restart some of our operations. I am proud of our entire team on the ground in the Valais region and wanted to thank them for their incredible resolve and courage during this very difficult time.”

“Looking more at our end markets, packaging demand remained healthy during the quarter. Aerospace demand has started to slow down as commercial aerospace OEMs are dealing with supply chain challenges and continue to struggle to increase build rates. Automotive demand during the quarter started to soften in North America, while weakness accelerated during the quarter in automotive markets in Europe. We experienced a sharp decline in demand in North America in most industrial markets, and further weakness in most industrial and specialties markets in Europe. Free Cash Flow was negative €10 million in the quarter, which includes a €6 million impact at Valais as a result of the flood, and we ended the quarter with leverage at 2.8x. Also in the quarter, we repurchased 1.2 million shares for $21 million,” Mr. Germain continued.

Mr. Germain concluded, “We continue to face uncertainties on the macroeconomic and geopolitical fronts, and we have a demand environment that has continued to weaken throughout the year, which accelerated during the third quarter and has now spread to most of our end markets. Based on our current outlook, in 2024 we expect Adjusted EBITDA to be in the range of €580 million to €600 million, excluding an estimated one-time impact of €30 million to €40 million from the flood in Switzerland, and excluding the non-cash impact of metal price lag. Given the softness we are experiencing today across most of our end markets with no signs of recovery in the near-term, we are also more cautious as we head into 2025. At this stage, our Adjusted EBITDA target of over €800 million, excluding the non-cash impact of metal price lag, is delayed pending market recovery. Overall, we like our end market positioning and remain confident in the long-term fundamentals driving the demand for our products. Our focus remains on executing our strategy and increasing shareholder value.”

2

Group Summary

	Q3 2024			Q3 2023			Var.			YTD 2024		YTD 2023			Var.
Shipments (k metric tons)		352			369			(5	)%		1,110		1,156			(4	)%
Revenue (€ millions)		1,639			1,720			(5	)%		5,165		5,626			(8	)%
Net income (€ millions)		3			64			n.m.			91		118			n.m.
Adjusted EBITDA (€ millions)		110			141			n.m.			461		470			n.m.
Metal price lag (non-cash) (€ millions)		(3	)		(27	)		n.m.			26		(72	)		n.m.

The difference between the sum of reported segment revenue and total group revenue includes revenue from certain non-core activities and inter-segment eliminations. The difference between the sum of reported Segment Adjusted EBITDA and the Group Adjusted EBITDA is related to Holdings and Corporate and the non-cash impact of metal price lag.

For the third quarter of 2024, shipments of 352 thousand metric tons decreased 5% compared to the third quarter of 2023 mostly due to lower shipments in the A&T and AS&I segments. Revenue of €1.6 billion decreased 5% compared to the third quarter of the prior year primarily due to lower shipments and unfavorable price and mix, partially offset by higher metal prices. Net income of €3 million decreased €61 million compared to net income of €64 million in the third quarter of 2023. Adjusted EBITDA of €110 million decreased €31 million compared to Adjusted EBITDA of €141 million in the third quarter of last year due to weaker results in each of our segments and a €17 million impact at Valais as a result of the flood, partially offset by a favorable change in the non-cash metal price lag impact.

For the first nine months of 2024, shipments of 1.1 million metric tons decreased 4% compared to the first nine months of 2023 due to lower shipments in each of our segments. Revenue of €5.2 billion decreased 8% compared to the first nine months of 2023 primarily due to lower shipments and lower metal prices. Net income of €91 million decreased €27 million compared to net income of €118 million in the first nine months of 2023. Adjusted EBITDA of €461 million decreased €9 million compared to the first nine months of 2023 due to weaker results in each of our segments and a €17 million impact at Valais as a result of the flood, partially offset by a favorable change in the non-cash metal price lag impact.

Results by Segment

Packaging & Automotive Rolled Products (P&ARP)

	Q3 2024		Q3 2023		Var.			YTD 2024		YTD 2023		Var.
Shipments (k metric tons)		261		261		—	%		787		792		(1	)%
Revenue (€ millions)		993		954		4	%		2,932		3,033		(3	)%
Segment Adjusted EBITDA (€ millions)		61		67		(9	)%		168		201		(17	)%
Segment Adjusted EBITDA per metric ton (€)		234		256		(9	)%		213		254		(16	)%

3

For the third quarter of 2024, Segment Adjusted EBITDA of €61 million decreased 9% compared to the third quarter of 2023 primarily due to unfavorable metal costs, partially offset by lower operating costs. Shipments of 261 thousand metric tons were stable compared to the third quarter of the prior year due to higher shipments of packaging rolled products offset by lower shipments of automotive and other specialty rolled products. Revenue of €993 million increased 4% compared to the third quarter of 2023 primarily due to higher metal prices.

For the first nine months of 2024, Segment Adjusted EBITDA of €168 million decreased 17% compared to the first nine months of 2023 primarily due to unfavorable metal costs given tighter scrap spreads in North America, weather-related impacts in the first quarter at our Muscle Shoals facility and unfavorable price and mix, partially offset by lower operating costs. Shipments of 787 thousand metric tons decreased 1% compared to the first nine months of 2023 as a result of higher shipments of packaging rolled products more than offset by lower shipments of automotive and other specialty rolled products. Revenue of €2.9 billion decreased 3% compared to the first nine months of 2023 primarily due to unfavorable price and mix.

Aerospace & Transportation (A&T)

	Q3 2024		Q3 2023		Var.			YTD 2024		YTD 2023		Var.
Shipments (k metric tons)		48		53		(10	)%		165		171		(4	)%
Revenue (€ millions)		383		404		(5	)%		1,276		1,320		(3	)%
Segment Adjusted EBITDA (€ millions)		47		79		(41	)%		210		248		(15	)%
Segment Adjusted EBITDA per metric ton (€)		979		1,480		(34	)%		1,273		1,438		(11	)%

For the third quarter of 2024, Segment Adjusted EBITDA of €47 million decreased 41% compared to the third quarter of 2023 primarily due to lower volumes, unfavorable price and mix and a €7 million impact at Valais as a result of the flood. Shipments of 48 thousand metric tons decreased 10% compared to the third quarter of the prior year due to lower shipments of transportation, industry and defense (TID) rolled products. Revenue of €383 million decreased 5% compared to the third quarter of 2023 primarily due to lower shipments, partially offset by higher metal prices.

For the first nine months of 2024, Segment Adjusted EBITDA of €210 million decreased 15% compared to the first nine months of 2023 primarily due to lower shipments, unfavorable price and mix and a €7 million impact at Valais as a result of the flood, partially offset by lower costs. Shipments of 165 thousand metric tons decreased 4% compared to the first nine months of 2023 mostly due to lower shipments of TID rolled products. Revenue of €1.3 billion decreased 3% compared to the first nine months of 2023 primarily due to lower shipments.

4

Automotive Structures & Industry (AS&I)

	Q3 2024		Q3 2023		Var.			YTD 2024		YTD 2023		Var.
Shipments (k metric tons)		42		55		(24	)%		157		193		(19	)%
Revenue (€ millions)		293		370		(21	)%		1,014		1,296		(22	)%
Segment Adjusted EBITDA (€ millions)		10		26		(61	)%		75		108		(31	)%
Segment Adjusted EBITDA per metric ton (€)		238		467		(49	)%		475		560		(15	)%

For the third quarter of 2024, Segment Adjusted EBITDA of €10 million decreased 61% compared to the third quarter of 2023 primarily due to lower shipments, unfavorable price and mix and a €10 million impact at Valais as a result of the flood, partially offset by lower costs. Shipments of 42 thousand metric tons decreased 24% compared to the third quarter of the prior year due to lower shipments of automotive and other extruded products, including the sale of Constellium Extrusions Deutschland GmbH (“CED”) in September 2023. Revenue of €293 million decreased 21% compared to the third quarter of 2023 primarily due to lower shipments and unfavorable price and mix, partially offset by higher metal prices.

For the first nine months of 2024, Segment Adjusted EBITDA of €75 million decreased 31% compared to the first nine months of 2023 primarily due to lower shipments, unfavorable price and mix and a €10 million impact at Valais as a result of the flood, partially offset by lower costs. Shipments of 157 thousand metric tons decreased 19% compared to the first nine months of 2023 due to lower shipments of automotive and other extruded products, including the sale of CED in September 2023. Revenue of €1.0 billion decreased 22% compared to the first nine months of 2023 primarily due to lower shipments and unfavorable price and mix.

The following table reconciles the total of our segments’ measures of profitability to the group’s Income from Operations:

	Three months ended September 30,						Nine months ended September 30,
(in millions of Euros)	2024			2023			2024			2023
P&ARP		61			67			168			201
A&T		47			79			210			248
AS&I		10			26			75			108
Holdings and Corporate		(4	)		(4	)		(17	)		(15	)
Segment Adjusted EBITDA		113			168			435			542
Metal price lag		(3	)		(27	)		26			(72	)
Adjusted EBITDA		110			141			461			470
Other adjustments		(66	)		(23	)		(232	)		(211	)
Income from operations		44			118			229			259

5

Reconciling items excluded from our Segment Adjusted EBITDA include the following:

Metal price lag

Metal price lag represents the non-cash financial impact of the timing difference between when aluminium prices included within Constellium’s Revenue are established and when aluminium purchase prices included in Cost of sales are established. The metal price lag will generally increase our earnings in times of rising primary aluminium prices and decrease our earnings in times of declining primary aluminium prices. The calculation of metal price lag adjustment is based on a standardized methodology applied at each of Constellium’s manufacturing sites. Metal price lag is calculated as the average value of product purchased in the period, approximated at the market price, less the value of product in inventory at the weighted average of metal purchased over time, multiplied by the quantity sold in the period.

For the third quarter of 2024, metal price lag is negative which reflects LME prices for aluminium decreasing during the period. For the first nine months of 2024, metal price lag is positive which reflects LME prices for aluminium increasing during the period. For both the third quarter and the first nine months of 2023, metal price lag is negative which reflects LME prices for aluminium decreasing during the period.

Other adjustments are detailed in the Reconciliation of net income to Adjusted EBITDA Table on page 16.

Net Income

For the third quarter of 2024, net income of €3 million compares to net income of €64 million in the third quarter of the prior year. The decrease in net income is primarily related to lower gross profit and the recognition in the prior year of a gain related to the sale of our CED business, partially offset by lower selling and administrative expenses and lower income tax expense.

For the first nine months of 2024, net income of €91 million compares to net income of €118 million in the first nine months of the prior year. The decrease in net income is primarily related to lower gross profit and the recognition in the prior year of a gain related to the sale of our CED business, partially offset by favorable changes in gains and losses on derivatives mostly related to our hedging positions and lower selling and administrative expenses.

Cash Flow

Free Cash Flow was €57 million in the first nine months of 2024 compared to €112 million in the first nine months of the prior year. The decrease in Free Cash Flow was primarily due to lower Segment Adjusted EBITDA, higher capital expenditures and cash taxes, and the €6 million impact at Valais as a result of the flood, partially offset by a favorable change in working capital and lower cash interest.

6

Cash flows from operating activities were €292 million for the first nine months of 2024 compared to cash flows from operating activities of €321 million in the first nine months of the prior year.

Cash flows used in investing activities were €232 million for the first nine months of 2024 compared to cash flows used in investing activities of €161 million in the first nine months of the prior year. In the first nine months of 2023, cash flows used in investing activities included €47 million of net proceeds from the sale of CED in September 2023.

Cash flows used in financing activities were €110 million for first nine months of 2024 compared to cash flows used in financing activities of €167 million in the first nine months of the prior year. During the first nine months of 2024, the Company repurchased 3.1 million shares of the Company stock for $60.4 million. In the third quarter of 2024, Constellium issued $350 million of 6.375% Senior Notes due 2032 and €300 million of 5.375% Senior Notes due 2032, using the proceeds and cash on the balance sheet to redeem the outstanding portion of the $250 million of 5.875% Senior Notes due 2026 and the €400 million of 4.250% Senior Notes due 2026.

Liquidity and Net Debt

Liquidity at September 30, 2024 was €778 million, comprised of €152 million of cash and cash equivalents and €626 million available under our committed lending facilities and factoring arrangements.

Net debt was €1,677 million at September 30, 2024 compared to €1,664 million at December 31, 2023.

In August 2024, the Pan-U.S. ABL was amended to extend the maturity to 2029 and to increase the commitment from $500 million to $550 million.

Valais Update

In late June 2024, severe flooding impacted Constellium’s plate and extrusion shops in Sierre, as well as its casthouse in Chippis, leading to a suspension of operations. Cleaning efforts are well underway with a strong focus on safety and efficiency. As of mid-October 2024, operations have partially resumed, and Constellium anticipates restarting full operations in its extrusion and plate shops by the end of November 2024. The company aims to complete the production ramp-up for its extrusion and plate businesses by the end of the first quarter of 2025. Mitigation plans have been implemented, including transferring some production to other facilities. Constellium is actively discussing with local authorities to secure the site against future flooding and ensure its long-term viability.

7

The financial impact at Valais as a result of the flood in the third quarter this year was €17 million of Adjusted EBITDA and €6 million of Free Cash Flow. For the full year in 2024, we currently expect the impact to be €30 million to €40 million of Adjusted EBITDA, and €60 million to €70 million of Free Cash Flow including the assumption of partial receipts of insurance payments. We currently expect some cost impact in 2025 as production at the facilities will continue to ramp up, and we also expect some of the insurance proceeds in 2025. All of the insurance proceeds received are accounted for below Adjusted EBITDA.

Outlook

Based on our current outlook, in 2024 we expect Adjusted EBITDA to be in the range of €580 million to €600 million, excluding an estimated one-time impact of €30 million to €40 million at Valais as a result of the flood, and excluding the non-cash impact of metal price lag.

We are not able to provide a reconciliation of this 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, non-cash impact of metal price lag, impairment or restructuring charges, or taxes without unreasonable efforts, and these items could significantly impact, either individually or in the aggregate, net income in the future.

8

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 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; natural disasters including severe flooding and other weather-related events; the Russian war on Ukraine and other geopolitical tensions; 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.

About Constellium

Constellium (NYSE: CSTM) is a global sector leader that develops innovative, value-added aluminium products for a broad scope of markets and applications, including aerospace, automotive and packaging. Constellium generated €7.2 billion of revenue in 2023.

Constellium’s earnings materials for the third quarter ended September 30, 2024 are also available on the company’s website (www.constellium.com).

9

CONSOLIDATED INCOME STATEMENT (UNAUDITED)

	Three months ended September 30,						Nine months ended September 30,
(in millions of Euros)	2024			2023			2024			2023
Revenue		1,639			1,720			5,165			5,626
Cost of sales		(1,525	)		(1,562	)		(4,695	)		(5,094	)
Gross profit		114			158			470			532
Selling and administrative expenses		(63	)		(70	)		(212	)		(221	)
Research and development expenses		(11	)		(11	)		(39	)		(37	)
Other gains and losses - net		4			41			10			(15	)
Income from operations		44			118			229			259
Finance costs - net		(36	)		(36	)		(101	)		(106	)
Income before tax		8			82			128			153
Income tax expense		(5	)		(18	)		(37	)		(35	)
Net income		3			64			91			118
Net income attributable to:
Equity holders of Constellium		2			64			89			115
Non-controlling interests		1			—			2			3
Net income		3			64			91			118
Earnings per share attributable to the equity holders of Constellium, (in Euros)
Basic		0.02			0.44			0.61			0.79
Diluted		0.02			0.43			0.60			0.77
Weighted average number of shares, (in thousands)
Basic		145,492			146,820			146,184			145,897
Diluted		147,438			148,704			148,774			148,704

10

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME / (LOSS) (UNAUDITED)

	Three months ended September 30,						Nine months ended September 30,
(in millions of Euros)	2024			2023			2024			2023
Net income		3			64			91			118
Other comprehensive (loss) / income
Items that will not be reclassified subsequently to the consolidated income statement
Remeasurement on post-employment benefit obligations		(20	)		26			14			30
Income tax on remeasurement on post-employment benefit obligations		4			(6	)		(2	)		(8	)
Items that may be reclassified subsequently to the consolidated income statement
Cash flow hedges		13			(6	)		9			(2	)
Income tax on cash flow hedges		(3	)		2			(2	)		1
Currency translation differences		(35	)		20			(13	)		7
Other comprehensive (loss) / income		(41	)		36			6			28
Total comprehensive (loss) / income		(38	)		100			97			146
Attributable to:
Equity holders of Constellium		(38	)		99			96			143
Non-controlling interests		—			1			1			3
Total comprehensive (loss) / income		(38	)		100			97			146

11

CONSOLIDATED STATEMENT OF FINANCIAL POSITION (UNAUDITED)

(in millions of Euros)	At September 30, 2024		At December 31, 2023
Assets
Current assets
Cash and cash equivalents		152		202
Trade receivables and other		591		490
Inventories		1,138		1,098
Other financial assets		30		30
		1,911		1,820
Non-current assets
Property, plant and equipment		2,077		2,047
Goodwill		461		462
Intangible assets		42		47
Deferred tax assets		227		252
Trade receivables and other		37		31
Other financial assets		7		2
		2,851		2,841
Total Assets		4,762		4,661
Liabilities
Current liabilities
Trade payables and other		1,386		1,263
Borrowings		53		54
Other financial liabilities		19		34
Income tax payable		16		19
Provisions		22		18
		1,496		1,388
Non-current liabilities
Trade payables and other		64		59
Borrowings		1,775		1,814
Other financial liabilities		4		8
Pension and other post-employment benefit obligations		383		411
Provisions		87		89
Deferred tax liabilities		33		28
		2,346		2,409
Total Liabilities		3,842		3,797
Equity
Share capital		3		3
Share premium		420		420
Retained earnings and other reserves		477		420
Equity attributable to equity holders of Constellium		900		843
Non-controlling interests		20		21
Total Equity		920		864
Total Equity and Liabilities		4,762		4,661

12

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY (UNAUDITED)

(in millions of Euros)	Share capital		Share premium		Treasury shares			Re- measurement			Cash flow hedges			Foreign currency translation reserve			Other reserves			Retained earnings		Total			Non-controlling interests			Total equity
At January 1, 2024		3		420		—			13			(4	)		16			121			274		843			21			864
Net income		—		—		—			—			—			—			—			89		89			2			91
Other comprehensive income / (loss)		—		—		—			12			7			(12	)		—			—		7			(1	)		6
Total comprehensive income / (loss)		—		—		—			12			7			(12	)		—			89		96			1			97
Share-based compensation		—		—		—			—			—			—			17			—		17			—			17
Repurchase of ordinary shares		—		—		(56	)		—			—			—			—			—		(56	)		—			(56	)
Allocation of treasury shares to share-based compensation plan vested		—		—		26			—			—			—			(26	)		—		—			—			—
Transactions with non-controlling interests		—		—		—			—			—			—			—			—		—			(2	)		(2	)
At September 30, 2024		3		420		(30	)		25			3			4			112			363		900			20			920
(in millions of Euros)	Share capital		Share premium		Treasury shares			Re- measurement			Cash flow hedges			Foreign currency translation reserve			Other reserves			Retained earnings		Total			Non-controlling interests			Total equity
At January 1, 2023		3		420		—			28			(10	)		41			101			148		731			21			752
Net income		—		—		—			—			—			—			—			115		115			3			118
Other comprehensive income / (loss)		—		—		—			22			(1	)		7			—			—		28			—			28
Total comprehensive income / (loss)		—		—		—			22			(1	)		7			—			115		143			3			146
Share-based compensation		—		—		—			—			—			—			15			—		15			—			15
Other		—		—					(1	)		—			—			—			1		—			—			—
Transactions with non-controlling interests		—		—		—			—			—			—			—			—		—			(2	)		(2	)
At September 30, 2023		3		420		—			49			(11	)		48			116			264		889			22			911

13

CONSOLIDATED STATEMENT OF CASH FLOWS (UNAUDITED)

	Three months ended September 30,						Nine months ended September 30,
(in millions of Euros)	2024			2023			2024			2023
Net income		3			64			91			118
Adjustments
Depreciation and amortization		73			77			218			221
Pension and other post-employment benefits service costs		7			5			17			16
Finance costs - net		36			36			101			106
Income tax expense		5			18			37			35
Unrealized (gains) / losses on derivatives - net and from remeasurement of monetary assets and liabilities - net		(17	)		(23	)		(19	)		5
Losses / (gains) on disposal		2			(36	)		3			(30	)
Other - net		—			5			12			15
Change in working capital
Inventories		(23	)		25			(46	)		175
Trade receivables		99			133			(87	)		(91	)
Trade payables		(39	)		(109	)		114			(123	)
Other		(3	)		14			7			20
Change in provisions		5			(1	)		3			(3	)
Pension and other post-employment benefits paid		(19	)		(11	)		(39	)		(30	)
Interest paid		(30	)		(33	)		(86	)		(96	)
Income tax paid		(13	)		(10	)		(34	)		(17	)
Net cash flows from operating activities		86			154			292			321
Purchases of property, plant and equipment		(96	)		(76	)		(242	)		(210	)
Property, plant and equipment grants received		—			—			7			1
Acquisition of subsidiaries net of cash acquired		3			—			3			—
Proceeds from disposals, net of cash		—			48			—			48
Net cash flows used in investing activities		(93	)		(28	)		(232	)		(161	)
Repurchase of ordinary shares		(19	)		—			(56	)		—
Proceeds from issuance of long-term borrowings		621			—			621			—
Repayments of long-term borrowings		(631	)		(46	)		(635	)		(51	)
Net change in revolving credit facilities and short-term borrowings		1			(90	)		1			(83	)
Lease repayments		(6	)		(13	)		(19	)		(29	)
Payment of financing costs and redemption fees		(13	)		—			(13	)		—
Transactions with non-controlling interests		(1	)		—			(4	)		(3	)
Other financing activities		(6	)		1			(5	)		(1	)
Net cash flows used in financing activities		(54	)		(148	)		(110	)		(167	)
Net decrease in cash and cash equivalent		(61	)		(22	)		(50	)		(7	)
Cash and cash equivalents - beginning of period		213			178			202			166
Transfer of cash and cash equivalents from assets classified as held for sale		—			2			—			1
Effect of exchange rate changes on cash and cash equivalents		—			1			—			(1	)
Cash and cash equivalents - end of period		152			159			152			159

14

SEGMENT ADJUSTED EBITDA

	Three months ended September 30,						Nine months ended September 30,
(in millions of Euros)	2024			2023			2024			2023
P&ARP		61			67			168			201
A&T		47			79			210			248
AS&I		10			26			75			108
Holdings and Corporate		(4	)		(4	)		(17	)		(15	)

SHIPMENTS AND REVENUE BY PRODUCT LINE

	Three months ended September 30,						Nine months ended September 30,
(in k metric tons)	2024			2023			2024			2023
Packaging rolled products		193			187			567			564
Automotive rolled products		64			68			204			209
Specialty and other thin-rolled products		5			6			17			19
Aerospace rolled products		23			23			75			74
Transportation, industry, defense and other rolled products		25			30			90			97
Automotive extruded products		29			32			98			110
Other extruded products		15			23			60			83
Total shipments		352			369			1,110			1,156
(in millions of Euros)
Packaging rolled products		688			630			1,983			2,014
Automotive rolled products		278			286			861			902
Specialty and other thin-rolled products		26			38			88			117
Aerospace rolled products		227			234			734			758
Transportation, industry, defense and other rolled products		155			171			541			562
Automotive extruded products		208			237			683			810
Other extruded products		86			133			332			486
Other and inter-segment eliminations		(29	)		(9	)		(57	)		(23	)
Total revenue		1,639			1,720			5,165			5,626

Amounts may not sum due to rounding.

Certain reclassifications have been made to prior year amounts to conform to the current year presentation.

15

NON-GAAP MEASURES

Reconciliation of net income to Adjusted EBITDA (a non-GAAP measure)

	Three months ended September 30,						Nine months ended September 30,
(in millions of Euros)	2024			2023			2024			2023
Net income		3			64			91			118
Income tax expense		5			18			37			35
Income before tax		8			82			128			153
Finance costs - net		36			36			101			106
Income from operations		44			118			229			259
Depreciation and amortization		73			77			218			221
Restructuring costs (A)		4			—			7			—
Unrealized (gains) / losses on derivatives		(18	)		(23	)		(18	)		5
Unrealized exchange losses / (gains) from the remeasurement of monetary assets and liabilities – net		1			—			(1	)		—
Share based compensation costs		5			5			17			15
Losses / (gains) on disposal (B)		2			(36	)		3			(30	)
Other (C)		(1	)		—			6			—
Adjusted EBITDA (D)		110			141			461			470
of which Metal price lag (E)		(3	)		(27	)		26			(72	)

(A) For the three and nine months ended September 30, 2024, restructuring costs amounted to €4 million and €7 million, respectively, and were related to cost improvement programs in Europe and in the U.S.

(B) For the three months ended September 30, 2023, gains and losses on disposal costs net of transaction costs included a €36 million gain related to the sale of Constellium Extrusions Deutschland GmbH completed on September 29, 2023. For the nine months ended September 30, 2023, gains and losses on disposal costs net of transaction costs included a €5 million loss related to the sale of Constellium Ussel S.A.S. completed on February 2, 2023 and a €36 million gain related to the sale of Constellium Extrusions Deutschland GmbH completed on September 29, 2023.

(C) For the three months ended September 30, 2024, other was mainly related to the losses resulting from flooding in Sierre and Chippis which include clean-up costs, offset by €21 million of insurance proceeds. For the nine months ended September 30, 2024, the losses resulting from flooding in Sierre and Chippis include clean-up costs and €5 million of inventory impairment offset by €21 million of insurance proceeds, as well as €3 million of costs associated with non-recurring corporate transformation projects.

(D) Adjusted EBITDA includes the non-cash impact of metal price lag as presented on the line below.

(E) Metal price lag represents the financial impact of the timing difference between when aluminium prices included within Constellium’s Revenue are established and when aluminium purchase prices included in Cost of sales are established. The metal price lag will generally increase our earnings in times of rising primary aluminium prices and decrease our earnings in times of declining primary aluminium prices. The calculation of metal price lag adjustment is based on a standardized methodology applied at each of Constellium’s manufacturing sites. Metal price lag is calculated as the average value of product purchased in the period, approximated at the market price, less the value of product in inventory at the weighted average of metal purchased over time, multiplied by the quantity sold in the period.

16

Reconciliation of net cash flows from operating activities to Free Cash Flow (a non-GAAP measure)

	Three months ended September 30,						Nine months ended September 30,
(in millions of Euros)	2024			2023			2024			2023
Net cash flows from operating activities		86			154			292			321
Purchases of property, plant and equipment, net of grants received		(96	)		(76	)		(235	)		(209	)
Free Cash Flow		(10	)		78			57			112

Reconciliation of borrowings to Net debt (a non-GAAP measure)

(in millions of Euros)	At September 30, 2024			At December 31, 2023
Borrowings		1,828			1,868
Fair value of net debt derivatives, net of margin calls		2			(2	)
Cash and cash equivalents		(152	)		(202	)
Net debt		1,677			1,664

17

Non-GAAP measures

In addition to the results reported in accordance with International Financial Reporting Standards (“IFRS”), this press release includes information regarding certain financial measures which are not prepared in accordance with IFRS (“non-GAAP measures”). The non-GAAP measures used in this press release are: Adjusted EBITDA, Free Cash Flow and Net debt. Reconciliations to the most directly comparable IFRS financial measures are presented in the schedules to this press release. We believe these non-GAAP measures are important supplemental measures of our operating and financial performance. By providing these measures, together with the reconciliations, we believe we are enhancing investors’ understanding of our business, our results of operations and our financial position, as well as assisting investors in evaluating the extent to which we are executing our strategic initiatives. However, these non-GAAP financial measures supplement our IFRS disclosures and should not be considered an alternative to the IFRS measures and may not be comparable to similarly titled measures of other companies.

Adjusted EBITDA is defined as income / (loss) from continuing operations before income taxes, results from joint ventures, net finance costs, other expenses and depreciation and amortization as adjusted to exclude restructuring costs, impairment charges, unrealized gains or losses on derivatives and on foreign exchange differences on transactions which do not qualify for hedge accounting, share based compensation expense, effects of certain purchase accounting adjustments, start-up and development costs or acquisition, integration and separation costs, certain incremental costs and other exceptional, unusual or generally non-recurring items.

The most directly comparable IFRS measure to Adjusted EBITDA is our net income or loss for the period. We believe Adjusted EBITDA, as defined below, is useful to investors and is used by our management for measuring profitability because it excludes the impact of certain non-cash charges, such as depreciation, amortization, impairment and unrealized gains and losses on derivatives as well as items that do not impact the day-to-day operations and that management in many cases does not directly control or influence. Therefore, such adjustments eliminate items which have less bearing on our core operating performance.

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 is the measure of performance used by management in evaluating our operating performance, in preparing internal forecasts and budgets necessary for managing our business. Management believes this measure also provides additional information used by our lending facilities providers with respect to the ongoing performance of our underlying business activities. Historically, we have used Adjusted EBITDA in calculating our compliance with financial covenants under certain of our loan facilities.

18

Adjusted EBITDA is not a presentation made in accordance with IFRS, is not a measure of financial condition, liquidity or profitability and should not be considered as an alternative to profit or loss for the period, revenues or operating cash flows determined in accordance with IFRS.

Free Cash Flow is defined as net cash flow from operating activities less capital expenditure, net of grants received. Management believes that Free Cash Flow is a useful measure of the net cash flow generated or used by the business as it takes into account both the cash generated or consumed by operating activities, including working capital, and the capital expenditure requirements of the business. However, Free Cash Flow is not a presentation made in accordance with IFRS and should not be considered as an alternative to operating cash flows determined in accordance with IFRS. Free Cash Flow has certain inherent limitations, including the fact that it does not represent residual cash flows available for discretionary spending, notably because it does not reflect principal repayments required in connection with our debt or capital lease obligations.

Net debt is defined as borrowings plus or minus the fair value of cross currency basis swaps net of margin calls less cash and cash equivalents and cash pledged for the issuance of guarantees. Management believes that Net debt is a useful measure of indebtedness because it takes into account the cash and cash equivalent balances held by the Company as well as the total external debt of the Company. Net debt is not a presentation made in accordance with IFRS, and should not be considered as an alternative to borrowings determined in accordance with IFRS. Leverage is defined as Net debt divided by last twelve months Segment Adjusted EBITDA, which excludes the non-cash impact of metal price lag.

19

EX-99.2

Exhibit 99.2

Third Quarter 2024 Earnings Call October 23, 2024

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; natural disasters including severe flooding and other weather-related events; the Russian war on Ukraine and other geopolitical tensions; 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. Third Quarter 2024—Earnings Call—2

Non-GAAP Measures This presentation includes information regarding certain non-GAAP financial measures, including Adjusted EBITDA, 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, 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, non-cash impact of metal price 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. Third Quarter 2024—Earnings Call—3

Jean-Marc Germain Chief Executive Officer

Q3 2024 Highlights > Safety: Recordable case rate (RCR)(1) of ~1.7 per million hours worked in Adjusted EBITDA Bridge Q3 2024; YTD RCR of ~1.9 per million hours worked in € millions > Shipments: 352 thousand tons (-5% YoY) > Revenue: €1.6 billion (-5% YoY) > Net income: €3 million > Adjusted EBITDA: €110 million – Includes negative €17 million impact at Valais as a result of the flood Includes €17M impact at – Includes negative non-cash metal price lag impact of €3 million Valais as a result of the flood > Cash from Operations: €86 million > Free Cash Flow: €(10) million – Includes negative €6 million impact at Valais as a result of the flood > Shareholder Returns: repurchased 1.2 million shares for $21 million > Leverage: 2.8x at September 30, 2024 Challenging Q3 with increased demand weakness in several end markets and the financial impact at Valais as a result of the flood (1) Recordable case rate measures the number of fatalities, serious injuries, lost-time injuries, restricted work injuries, or medical Third Quarter 2024—Earnings Call—5 treatments per one million hours worked. Note: Segment Adjusted EBITDA excludes the non-cash impact of metal price lag. Amounts may not sum due to rounding.

Jack Guo Chief Financial Officer

Packaging & Automotive Rolled Products Q3 Q3 Q3 2024 Performance 2024 2023 % â–³ Segment Adjusted EBITDA of €61 million Shipments (kt) 261 261 — % > Higher packaging shipments Revenue (€m) 993 954 4 % > Lower automotive and specialty shipments 61 67 (9)% > Unfavorable metal costs given tighter scrap spreads in Segment Adj. EBITDA (€m) North America Segment Adj. EBITDA (€ / t) 234 256 (9)% > Lower operating costs Q3 2024 Segment Adjusted EBITDA Bridge Third Quarter 2024—Earnings Call—7

Aerospace & Transportation Q3 Q3 Q3 2024 Performance 2024 2023 % â–³ Segment Adjusted EBITDA of €47 million Shipments (kt) 48 53 (9)% > Stable aerospace shipments Revenue (€m) 383 404 (5)% > Lower TID shipments 47 79 (41)% > Unfavorable price and mix Segment Adj. EBITDA (€m) > Unfavorable impact of Valais flood(1) Segment Adj. EBITDA (€ / t) 979 1,480 (34)% Q3 2024 Segment Adjusted EBITDA Bridge (1) (1) Financial impact at Valais as a result of the flood. Insurance proceeds accounted for below Adjusted EBITDA. Third Quarter 2024—Earnings Call—8

Automotive Structures & Industry Q3 Q3 Q3 2024 Performance 2024 2023 % â–³ Segment Adjusted EBITDA of €10 million Shipments (kt) 42 55 (24)% > Lower automotive and industry shipments (Q3 2023 Revenue (€m) 293 370 (21)% includes CED business which was sold in Q3 2023) > Unfavorable price and mix Segment Adj. EBITDA (€m) 10 26 (61)% > Lower costs (1) Segment Adj. EBITDA (€ / t) 238 467 (49)% > Unfavorable impact of Valais flood Q3 2024 Segment Adjusted EBITDA Bridge (1) (1) Financial impact at Valais as a result of the flood. Insurance proceeds accounted for below Adjusted EBITDA. Third Quarter 2024—Earnings Call—9

Free Cash Flow YTD YTD YTD 2024 Free Cash Flow Highlights in € millions 2024 2023 Net cash flows from operating activities 292 321 > Free Cash Flow of €57 million; lower compared to YTD 2023 as a result of: Purchases of property, plant and – YTD 2024 includes €6 million impact at Valais as (235) (209) equipment, net of grants received a result of the flood, – Lower Segment Adjusted EBITDA, Free Cash Flow 57 112 – Higher capital expenditures, and – Higher cash taxes, partially offset by Track Record of Free Cash Flow Generation in € millions – Favorable working capital and – Lower cash interest > Repurchased 3.1 million shares for $60.4 million Third Quarter 2024—Earnings Call—10

Net Debt and Liquidity Net Debt and Leverage Debt / Liquidity Highlights in € millions > Leverage of 2.8x at quarter-end > Target leverage range of 1.5x to 2.5x; currently expect to be back in the range in 2025 > In August 2024, successfully refinanced U.S. Dollar and Euro denominated Senior Notes Due 2026 > In August 2024, extended Pan-U.S. ABL maturity to 2029 and increased commitment to $550 million > No bond maturities until 2028 > Strong liquidity position Maturity Profile(1) Liquidity in € millions in € millions (1) See Borrowings Table in the Appendix for more details Strong balance sheet and improved financial flexibility give us confidence to manage varying business conditions Third Quarter 2024—Earnings Call—11

Jean-Marc Germain Chief Executive Officer

End Market Updates Packaging Automotive 38% 30% > Canstock inventory adjustments behind us in both North > Production of light vehicles remains well below pre-America and Europe COVID levels in Europe > Demand remains healthy in both North America and > Demand starting to soften in North America; demand Europe continues to weaken in Europe, particularly in the > Promotional activities at the ent over-year but remain below h tomotive OEMs have reduced their > Long-term trends remain in p once in the last two quarters mid-single digit growth expe ends for lightweighting and North America and Europe still intact in automotive Aerospace Specialties 15% 17% > Commercial aircraft backlogs Industry and Defense (Rolled): > Long-term trends expected to cline in demand in most North increased passenger traffic arkets; EU continues to weaken > Major OEMs remain focused on increasing build rates > Industry (Europe Extrusions): for both narrow and wide body aircraft, though supply – Demand continues to weaken across industrial chain struggles are slowing the ramp, causing shift in markets and visibility is low demand to the right > Other Specialties (Rolled) > Demand remains healthy in business/regional jet and – Demand remains weak defense Note: Percentages are based on LTM Revenue as of September 30, 2024. Third Quarter 2024—Earnings Call – 13

Update on Impact of Flooding in the Valais > In late June 2024, Constellium’s plate and extrusion shops in Sierre, as well as the casthouse in Chippis, were severely flooded Financial Impact at Valais – Operations were suspended; cleaning efforts are well underway as a Result of the Flood with safety and efficiency as a priority > Operations have partially restarted as of mid-October, and we expect Q3 2024 full operations in both the plate and extrusion shops by the end of November Adjusted EBITDA: €17 million > Extrusion and plate businesses expected to ramp-up to full production Free Cash Flow: €6 million by the end of Q1 2025 ——— > Mitigation plans underway to continue serving our customers FY 2024 – Some volumes transferred to other Constellium’s facilities Adjusted EBITDA: €30 million to €40 million – Some inventory recovered and shipped to customers Free Cash Flow: €60 million to €70 million – Incredible engagement from the local team > Working with local authorities to secure industrial site and ensure its long-term viability > Expect some cost impact in 2025 as production will continue to ramp; also expect to receive a portion of the insurance proceeds in 2025 – All insurance proceeds received in 2024 and 2025 accounted for below Adjusted EBITDA Third Quarter 2024—Earnings Call—14

Key Messages and Guidance Challenging environment in Q3 and Q4 2024 Targets > Further weakening across most end markets in EU; starting to see weakness in certain end markets in NA > Results impacted by the significant flooding event in Switzerland in late June, though significant 2024 Adjusted EBITDA(1) progress has been made and operations have partially restarted €580 million to €600 million > Started up new recycling center in Neuf-Brisach, France in September, slightly ahead of schedule and below budget ——— > Repurchased 1.2 million shares for $21 million during the quarter (3.1 million shares for $60.4 (1) Adjusted EBITDA million YTD 2024); plan to continue our share repurchase program in Q4 2024 Exciting future ahead with opportunities to grow our business and enhance of >€800 million profitability and returns (delayed pending market > Portfolio serving diversified and generally resilient end markets recovery) > Durable, sustainability-driven secular growth trends driving increased demand for our products ——— > Infinitely recyclable aluminium is part of the circular economy Leverage > Near-term Adjusted EBITDA drivers within our control; market recoveries provide additional upside; substantial value creation opportunities remain longer term, planting the seeds today for future 1.5x—2.5x growth and profitability > Execution focused with proven ability to flex costs > Strong balance sheet and Free Cash Flow generation allow financial flexibility and balanced capital allocations > Approximately $240 million remaining on existing share repurchase program(2)(3) Focused on executing our strategy and increasing shareholder value (1) Excludes one-time impact of €30 million to €40 million at Valais as a result of the flood, and the non-cash impact of metal price lag. (2) Third Quarter 2024—Earnings Call—15 Full execution of share repurchase program will require shareholder approval annually at the Annual General Meeting. (3) Expires December 2026.

Appendix 

Reconciliation of Net Income to Adjusted EBITDA Three months ended Nine months ended September 30, 2024 September 30, (in millions of Euros) 2024 2023 2024 2023 Net income 3 64 91 118 Income tax expense 5 18 37 35 Income before tax 8 82 128 153 Finance costs—net 36 36 101 106 Income from operations 44 118 229 259 Depreciation and amortization 73 77 218 221 Restructuring costs 4 — 7 —Unrealized (gains) / losses on derivatives (18) (23) (18) 5 Unrealized exchange (gains) / losses from the remeasurement of monetary 1 — (1) —assets and liabilities—net Share based compensation costs 5 5 17 15 Losses / (gains) on disposal 2 (36) 3 (30) Other ≥130 (1) — 6 — Adjusted EBITDA 110 141 461 470 of which Metal price lag(1) (3) (27) 26 (72) (1) Excluded in Segment Adjusted EBITDA Third Quarter 2024—Earnings Call—17

Free Cash Flow Reconciliation Nine months ended Three months ended September 30, September 30, (in millions of Euros) 2024 2023 2024 2023 Net cash flows from operating activities 86 154 292 321 Purchases of property, plant and equipment, net of grants received (96) (76) (235) (209) Free Cash Flow (10) 78 57 112 (in millions of Euros) 2023 2022 2021 2020 2019 Net cash flows from operating activities 506 451 357 334 447 Purchases of property, plant and equipment, net of grants (336) (269) (222) (177) (271) received Free Cash Flow 170 182 135 157 176 Third Quarter 2024—Earnings Call—18

Net Debt Reconciliation (in millions of Euros) September 30, 2024 June 30, 2024 March 31, 2024 December 31, 2023 September 30, 2023 Borrowings 1,828 1,895 1,883 1,868 1,909 Fair value of net debt derivatives, 2 — 1 (2) —net of margin calls Cash and cash equivalents (152) (213) (180) (202) (159) Net Debt 1,677 1,682 1,704 1,664 1,750 LTM Segment Adjusted EBITDA(1) 606 661 697 713 690 Leverage 2.8x 2.5x 2.4x 2.3x 2.5x ≥130 (1) Segment Adjusted EBITDA excludes non-cash metal price lag Third Quarter 2024—Earnings Call—19

Reconciliation of LTM Segment Adjusted EBITDA to Net Income Twelve months ended (in millions of Euros) September 30, 2024 June 30, 2024 March 31, 2024 December 31, 2023 September 30, 2023 P&ARP 250 256 271 283 272 A&T 286 318 331 324 304 AS&I 100 116 123 133 139 H&C (29) (29) (28) (27) (25) Segment Adjusted EBITDA 606 661 697 713 690 Metal price lag 12 (12) (83) (86) (141) Adjusted EBITDA 618 649 615 627 549 Share based compensation costs (22) (22) (23) (20) (20) Losses on pension plan amendments — — — — 47 Depreciation and amortization (291) (295) (293) (294) (299) Restructuring costs (7) (3) — — (1) Unrealized (gains) / losses on derivatives 20 25 2 (3) 14 Unrealized exchange losses / (gains) from the (1) — (1) (2) 1 remeasurement of monetary assets and liabilities – net Losses on disposal (4) 34 34 29 28 Other (6) (7) — — — Income from operations ≥1 307 381 333 337 319 Finance costs—net (136) (136) (139) (141) (139) Income before tax 171 245 194 196 180 Income tax expense (69) (82) (70) (67) (32) Net income 102 163 124 129 148 (1) Segment Adjusted EBITDA excludes non-cash metal price lag Third Quarter 2024—Earnings Call—20

Borrowings Table At September 30, At December 31, 2024 2023 (in Nominal Nominal Nominal (Arrangement Accrued Carrying Carrying millions Value in Value in Rate fees) Interests Value Value of Euros) Currency Euros Senior Unsecured Notes Issued November 2017 and due 2026 $ 250 5.875 % — — — — 230 Issued November 2017 and due 2026 € 400 4.250 % — — — — 404 Issued June 2020 and due 2028 $ 325 5.625 % 290 (3) 5 292 291 Issued February 2021 and due 2029 $ 500 3.750 % 447 (4) 8 451 452 Issued June 2021 and due 2029 € 300 3.125 % 300 (3) 2 299 300 Issued August 2024 and due 2032 $ 350 6.375 % 313 (6) 3 310 —Issued August 2024 and due 2032 € 300 5.375 % 300 (5) 2 297 — Lease liabilities 147 — 1 148 154 Other loans ≥130 31 — — 31 37 Total Borrowings 1,828 (21) 21 1,828 1,868 Of which non-current 1,775 1,814 Of which current 53 54 Third Quarter 2024—Earnings Call—21