<SEC-DOCUMENT>0001104659-20-051029.txt : 20200424
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<ACCEPTANCE-DATETIME>20200424163601
ACCESSION NUMBER:		0001104659-20-051029
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		19
CONFORMED PERIOD OF REPORT:	20200424
ITEM INFORMATION:		Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant
ITEM INFORMATION:		Other Events
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20200424
DATE AS OF CHANGE:		20200424

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Howmet Aerospace Inc.
		CENTRAL INDEX KEY:			0000004281
		STANDARD INDUSTRIAL CLASSIFICATION:	ROLLING DRAWING & EXTRUDING OF NONFERROUS METALS [3350]
		IRS NUMBER:				250317820
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-03610
		FILM NUMBER:		20815552

	BUSINESS ADDRESS:	
		STREET 1:		201 ISABELLA STREET
		STREET 2:		SUITE 200
		CITY:			PITTSBURGH
		STATE:			PA
		ZIP:			15212-5872
		BUSINESS PHONE:		(412) 553-1940

	MAIL ADDRESS:	
		STREET 1:		201 ISABELLA STREET
		CITY:			PITTSBURGH
		STATE:			PA
		ZIP:			15212-5872

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Arconic Inc.
		DATE OF NAME CHANGE:	20161101

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ALCOA INC.
		DATE OF NAME CHANGE:	20141003

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ALCOA INC
		DATE OF NAME CHANGE:	19990105
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<p style="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>UNITED STATES</b></p>

<p style="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>SECURITIES AND EXCHANGE COMMISSION</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>Washington, D. C. 20549</b></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">__________________&#160;</p>



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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">__________________</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="text-transform: uppercase"><b>CURRENT
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="text-transform: uppercase"><b>Pursuant
to Section&#160;13 or 15(</b></span><b>d<span style="text-transform: uppercase">)&#160;of the</span></b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="text-transform: uppercase"><b>Securities
Exchange Act of 1934</b></span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">__________________</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&#160;</p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Exact name of registrant as specified in
its charter)</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&#160;__________________</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: white"><b>Office of Investor
Relations (412)
553-1950</b></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: white">(Registrant&#8217;s
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: white">(Former Name or
Former Address, if Changed Since Last Report)</p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&#160;__________________&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Check the appropriate box below if the Form&#160;8-K filing
is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><tr style="vertical-align: top; text-align: justify">
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</td>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><tr style="vertical-align: top; text-align: justify">
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</td>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>
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</td>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><tr style="vertical-align: top; text-align: justify">
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the Exchange Act (17 CFR 240.13e-4(c))</p>


</td>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">Securities registered pursuant to
Section 12(b) of the Act:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&#160;</p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Indicate by check mark whether the registrant is an emerging
growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR &#167;230.405) or Rule 12b-2 of the Securities Exchange
Act of 1934 (17 CFR &#167;240.12b-2).</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 4in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 1in 0pt 0; text-align: left">Emerging growth company <span style="font-family: Wingdings"><span id="xdx_906_edei--EntityEmergingGrowthCompany_c20200423__20200424_z0os4Cyw8BB3"><ix:nonNumeric contextRef="From2020-04-23to2020-04-24" format="ixt:booleanfalse" name="dei:EntityEmergingGrowthCompany">&#168;</ix:nonNumeric></span></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 4in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">If an emerging growth company, indicate by check mark if the
registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards
provided pursuant to Section 13(a) of the Exchange Act.&#9;<span style="font-family: Wingdings">&#168;</span></p>

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<tr style="vertical-align: top; text-align: left; display: none; visibility: hidden">
    <td style="width: 100%; display: none; visibility: hidden"><span id="xdx_91F_eus-gaap--PreferredClassAMember_zmkypZ3uWDMa" style="display: none; visibility: hidden">Preferred Stock</span></td></tr>
</table>

<p style="margin-top: 0; margin-bottom: 0"></p>

<p style="margin-top: 0; margin-bottom: 0"></p>

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<p style="margin-top: 0; margin-bottom: 0"></p>

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<p style="margin-top: 0; margin-bottom: 0"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 16.75pt 0pt 0">&#160;</p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0"></td><td style="width: 1in; text-align: left"><b>Item 2.03</b></td><td style="text-align: justify"><b>Creation of
                                         a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement
                                         of the Registrant</b></td>
</tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 16.75pt 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt; background-color: white">Please refer to the discussion under Item 8.01 below, which is incorporated by reference into this Item 2.03.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 16.75pt 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 16.75pt 0pt 0"></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 1in"><b>Item 8.01.</b></td><td><b>Other Events</b></td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt; background-color: white">On April 24, 2020,
Howmet Aerospace Inc. (the &#8220;Company&#8221;) issued a press release announcing the closing of its previously announced underwritten
public offering of $1,200,000,000 aggregate principal amount of 6.875% Notes due 2025 (the &#8220;Notes&#8221;) on April 24, 2020.
The closing of the offering satisfies the financing condition for the Company&#8217;s currently outstanding tender offers in respect
of two series of its existing notes, which are described in the press release. A copy of the press release is attached hereto as
Exhibit 99.1, and is incorporated by reference into this Item 8.01.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt; background-color: white">The Notes
were issued under the Indenture dated as of September 30, 1993 between the Company and the Bank of New York Mellon Trust
Company, N.A., as successor in interest to J. P. Morgan Trust Company, N.A. (formerly known as Chase Manhattan Trust Company,
National Association, as successor to PNC Bank, National Association), as trustee (the &#8220;Trustee&#8221;), as
supplemented by the First Supplemental Indenture dated as of January 25, 2007 between the Company and the Trustee, the Second
Supplemental Indenture dated as of July 15, 2008 between the Company and the Trustee, the Fourth Supplemental Indenture dated
as of December 31, 2017 between the Company and the Trustee, and the Fifth Supplemental Indenture dated as of April 16, 2020
between the Company and the Trustee (collectively, the &#8220;Indenture&#8221;). The Notes were sold pursuant to the
Company&#8217;s shelf registration statement filed with the Securities and Exchange Commission on Form S-3 (File No.
333-237705) and automatically declared effective on April 16, 2020. The form of the Notes is attached hereto as Exhibit 4.6
and is incorporated herein by reference into this Item 8.01. A copy of the opinion of counsel of the Company relating to the validity of the
Notes is attached hereto as Exhibit 5.1, and is incorporated herein by reference into this Item 8.01.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt; background-color: white">The Notes will
mature on May 1, 2025 and bear interest at a rate of 6.875% per annum. Accrued and unpaid interest on the Notes will be payable
semi-annually in arrears on May 1 and November 1, commencing on November 1, 2020.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt; background-color: white">Prior to
April 1, 2025, the Company may redeem the Notes, in whole or in part, at its option, at any time or from time to time, at a
redemption price equal to the greater of (i) 100% of the principal amount of the Notes to be redeemed, plus accrued interest,
if any, to the date of redemption which has not been paid, or (ii) the sum of the present values of the remaining scheduled
payments on the Notes to be redeemed, discounted, on a semiannual basis, at the Treasury Rate (as defined in the Notes), plus
50 basis points, plus accrued interest to the date of redemption which has not been paid. At any time on or after April 1,
2025, the Notes will be redeemable, in whole or in part, at any time and from time to time, at the Company&#8217;s option, at
a redemption price equal to 100% of the principal amount of the Notes to be redeemed plus accrued interest to the date of
redemption which has not been paid. Any notice of redemption of the Notes to be redeemed at the option of the Company may
state that such redemption shall be conditional, in the Company&#8217;s discretion, on one or more conditions precedent, and
that such conditional notice of redemption may be rescinded by the Company if it determines that any or all such conditions
will not be satisfied by the redemption date, and that in such event, such redemption notice shall be of no further force or
effect and the Company shall not be required to redeem the Notes on the redemption date or otherwise.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt; background-color: white">The Indenture
contains customary events of default. If an event of default under the Indenture occurs and is continuing, the Trustee or the holders
of at least 25% in aggregate principal amount of the outstanding Notes may declare the principal amount of all the Notes to be
immediately due and payable.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt; background-color: white">The foregoing
description of the Indenture and the Notes is qualified in its entirety by reference to the full text of such documents, which
are attached or incorporated by reference hereto as Exhibit 4.1, 4.2, 4.3, 4.4, 4.5 and 4.6 and incorporated herein by reference
into this Item 8.01.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt; background-color: white">In
connection with the offering, the Company entered into an underwriting agreement, dated April 22, 2020 (the
&#8220;Underwriting Agreement&#8221;), with J.P. Morgan Securities LLC, as representative of the several underwriters named
in Schedule I thereto. For a complete description of the terms of the Underwriting Agreement, please refer to the
Underwriting Agreement, which is attached hereto as Exhibit 1.1 and is incorporated by reference into this Item 8.01.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt; background-color: white"></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt; background-color: white">&#160;</p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0"></td><td style="width: 1in; text-align: left"><b>Item 9.01</b></td><td style="text-align: justify"><b>Financial Statements and Exhibits.</b></td>
</tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>&#160;</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>(d) Exhibits</i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>&#160;</i></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0"></td><td style="width: 0.5in; text-align: left"><a href="tm2016823d1_ex1-1.htm" style="-sec-extract: exhibit">1.1</a></td><td style="text-align: justify"><a href="tm2016823d1_ex1-1.htm" style="-sec-extract: exhibit">Underwriting Agreement, dated April 22, 2020, between  Howmet Aerospace Inc. and J.P. Morgan Securities LLC, as representative
of the several underwriters named in Schedule I thereto.</a></td>
</tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>&#160;</i></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 0.5in">4.1</td><td>Form of Indenture, dated as of September 30, 1993, between Alcoa Inc. and The Bank of New York Trust Company, N.A., as successor
to J. P. Morgan Trust Company, National Association (formerly Chase Manhattan Trust Company, National Association), as successor
Trustee to PNC Bank, National Association, as Trustee (undated form of Indenture incorporated by reference to exhibit 4(a) to Registration
Statement No. 33-49997 on Form S-3).</td></tr></table>

<p style="margin-top: 0; margin-bottom: 0">&#160;</p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 0.5in"><a href="http://www.sec.gov/Archives/edgar/data/4281/000119312507012549/dex994.htm">4.2</a></td><td><a href="http://www.sec.gov/Archives/edgar/data/4281/000119312507012549/dex994.htm">First Supplemental Indenture, dated as of January 25, 2007, between Alcoa Inc. and The Bank of New York Trust Company, N.A.,
as successor to J. P. Morgan Trust Company, National Association (formerly Chase Manhattan Trust Company, National Association),
as successor Trustee to PNC Bank, National Association, as Trustee, incorporated by reference to exhibit 99.4 to the Company&#8217;s
Current Report on Form 8-K (Commission file number 1-3610) dated January 25, 2007.</a></td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in">&#160;</p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 0.5in"><a href="http://www.sec.gov/Archives/edgar/data/4281/000119312508150914/dex4c.htm">4.3</a></td><td><a href="http://www.sec.gov/Archives/edgar/data/4281/000119312508150914/dex4c.htm">Second Supplemental Indenture, dated as of July 15, 2008, between Alcoa Inc. and The Bank of New York Mellon Trust Company,
N.A., as successor in interest to J. P. Morgan Trust Company, National Association (formerly Chase Manhattan Trust Company, National
Association, as successor to PNC Bank, National Association), as Trustee, incorporated by reference to exhibit 4(c) to the Company&#8217;s
Current Report on Form 8-K (Commission file number 1-3610) dated July 15, 2008.</a></td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in">&#160;</p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 0.5in"><a href="http://www.sec.gov/Archives/edgar/data/4281/000114420418000704/tv482506_ex4-3.htm">4.4</a></td><td><a href="http://www.sec.gov/Archives/edgar/data/4281/000114420418000704/tv482506_ex4-3.htm">Fourth Supplemental Indenture, dated as of December 31, 2017, between Arconic Inc., a Pennsylvania corporation, Arconic Inc.,
a Delaware corporation, and The Bank of New York Mellon Trust Company, N.A., as trustee, incorporated by reference to exhibit 4.3
to the Company&#8217;s Current Report on Form 8-K (Commission file number 1-3610) dated January 4, 2018.</a></td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in">&#160;</p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 0.5in"><a href="http://www.sec.gov/Archives/edgar/data/4281/000110465920047232/tm2015834d1_ex4e.htm">4.5</a></td><td><a href="http://www.sec.gov/Archives/edgar/data/4281/000110465920047232/tm2015834d1_ex4e.htm">Fifth Supplemental Indenture, dated as of April 16, 2020, between Howmet Aerospace Inc., a Delaware corporation, and The Bank
of New York Mellon Trust Company, N.A., as trustee, incorporated by reference to exhibit 4(e) to the Company&#8217;s Registration
Statement on Form S-3 (Registration Statement No. 333-237705) dated April 16, 2020.</a></td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in">&#160;</p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 0.5in"><a href="tm2016823d1_ex4-6.htm">4.6</a></td><td><a href="tm2016823d1_ex4-6.htm">Form of 6.875% Notes due 2025.</a></td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in">&#160;</p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 0.5in"><a href="tm2016823d1_ex5-1.htm">5.1</a></td><td><a href="tm2016823d1_ex5-1.htm">Opinion of K&#38;L Gates LLP, counsel for Howmet Aerospace Inc.</a></td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in">&#160;</p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 0.5in"><a href="tm2016823d1_ex5-1.htm">23.1</a></td><td><a href="tm2016823d1_ex5-1.htm">Consent of K&#38;L Gates LLP, counsel for Howmet Aerospace Inc. (included in Exhibit 5.1).</a></td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 0.5in"><a href="tm2016823d1_ex99-1.htm">99.1</a></td><td style="text-align: justify"><a href="tm2016823d1_ex99-1.htm">Howmet Aerospace Inc. press release dated April 24, 2020.</a></td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 0.5in">104</td><td style="text-align: justify">The cover page of this Current Report on Form 8-K, formatted in Inline XBRL.</td></tr></table>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 16.75pt 0pt 0"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 16.75pt 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 16.75pt 0pt 0"></p>

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<p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><b>SIGNATURE</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27.5pt">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 hereunto duly authorized.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27.5pt">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27.5pt"></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: top">
    <td style="padding: 0; text-indent: 0">&#160;</td>
    <td colspan="3" style="padding: 0; text-indent: 0">HOWMET AEROSPACE INC.</td></tr>
<tr style="vertical-align: top">
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    <td style="padding: 0; text-indent: 0; width: 5%">&#160;</td>
    <td style="padding: 0; text-indent: 0; width: 5%">&#160;</td>
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    <td style="padding: 0; text-indent: 0">&#160;</td></tr>
<tr style="vertical-align: top">
    <td style="padding: 0; text-indent: 0">Date: April 24, 2020&#160;</td>
    <td style="padding: 0; text-indent: 0">By</td>
    <td colspan="2" style="border-bottom: Black 1pt solid; padding: 0; text-indent: 0">/s/ Peter Hong</td></tr>
<tr style="vertical-align: top">
    <td style="padding: 0; text-indent: 0">&#160;</td>
    <td style="padding: 0; text-indent: 0">&#160;</td>
    <td style="padding: 0; text-indent: 0">Name:</td>
    <td style="padding: 0; text-indent: 0">Peter Hong</td></tr>
<tr style="vertical-align: top">
    <td style="padding: 0; text-indent: 0">&#160;</td>
    <td style="padding: 0; text-indent: 0">&#160;</td>
    <td style="padding: 0; text-indent: 0">Title:</td>
    <td style="padding: 0; text-indent: 0">Vice President and Treasurer</td></tr>
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<DOCUMENT>
<TYPE>EX-1.1
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<DESCRIPTION>EXHIBIT 1.1
<TEXT>
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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="text-align: right; margin: 0"><B>Exhibit 1.1</B></P>

<P STYLE="margin-top: 0; margin-bottom: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">HOWMET AEROSPACE INC.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">$1,200,000,000 6.875% Notes due 2025</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">UNDERWRITING AGREEMENT</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">J.P. Morgan Securities LLC</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">383 Madison Avenue</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">New York, New York 10179</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">April 22, 2020</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-left: 1in; margin-top: 0pt; margin-bottom: 0pt; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">1.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Introductory.
</U>(a) Howmet Aerospace Inc., a Delaware corporation (the &ldquo;<B>Company</B>&rdquo;), proposes to issue and sell to the several
underwriters named in Schedule I hereto (the &ldquo;<B>Underwriters</B>&rdquo;), for whom you (the &ldquo;<B>Representative</B>&rdquo;)
are acting as representative, an aggregate principal amount of $1,200,000,000 of its 6.875% notes due 2025 (the &ldquo;<B>Securities</B>&rdquo;),
to be issued under the indenture dated as of September&nbsp;30, 1993 (the &ldquo;<B>Original Indenture</B>&rdquo;), between the
Company and The Bank of New York Mellon Trust Company, N.A., as trustee (the &ldquo;<B>Trustee</B>&rdquo;), as successor to J.P.
Morgan Trust Company, National Association (formerly known as Chase Manhattan Trust Company, National Association), as supplemented
by the first supplemental indenture dated as of January&nbsp;25, 2007 between the Company and the Trustee, the second supplemental
indenture dated as of July&nbsp;15, 2008 between the Company and the Trustee, the fourth supplemental indenture dated as of December
31, 2017 and the fifth supplemental indenture dated as of April 16, 2020 (as so supplemented, the &ldquo;<B>Indenture</B>&rdquo;)
between the Company and the Trustee. Certain terms of the Securities will be established pursuant to an officers&rsquo; certificate
pursuant to Section 301 of the Indenture (the &ldquo;<B>Officers&rsquo; Certificate</B>&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>At or prior to the time when sales of the Securities were first made (the &ldquo;<B>Time of Sale</B>&rdquo;), the Company
had prepared the following information (collectively, the &ldquo;<B>Time of Sale Information</B>&rdquo;): the Preliminary Prospectus
Supplement dated April 22, 2020 and accompanying base prospectus dated April 16, 2020 (together, the &ldquo;<B>Preliminary Prospectus</B>&rdquo;),
as filed by the Company pursuant to Rule 424(b)(3) of the Securities Act of 1933, as amended, and the rules and regulations of
the Securities and Exchange Commission (the &ldquo;<B>Commission</B>&rdquo;) thereunder (the &ldquo;<B>Act</B>&rdquo;), and each
 &ldquo;free writing prospectus&rdquo; (as defined pursuant to Rule 405 under the Act) identified in Schedule II hereto, including
the final term sheet filed with the Commission pursuant to Rule 433 under the Act and attached hereto as Schedule III (the &ldquo;<B>Final
Term Sheet</B>&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>The Company acknowledges and agrees that each Underwriter is acting solely in the capacity of an arm&rsquo;s length contractual
counterparty to the Company with respect to the offering of Securities contemplated hereby (including in connection with determining
the terms of the offering) and not as a financial advisor or a fiduciary to, or an agent of, the Company or any other person. Additionally,
neither the Representative nor any other Underwriter is advising the Company or any other person as to any legal, tax, investment,
accounting or regulatory matters in any jurisdiction. The Company shall consult with its own advisors concerning such matters and
shall be responsible for making its own independent investigation and appraisal of the transactions contemplated hereby, and the
Underwriters shall have no responsibility or liability to the Company with respect thereto. Any review by the Underwriters of the
Company, the transactions contemplated hereby or other matters relating to such transactions will be performed solely for the benefit
of the Underwriters and shall not be on behalf of the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">2.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Representations and Warranties of the Company.</U> The Company represents and warrants to, and agrees with, each Underwriter
that:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>The registration statement on Form S-3 (No. 333-237705), including a base prospectus relating to the Securities, has been
filed with the Commission and has become effective. Such registration statement, as amended to the date of this underwriting agreement
(&ldquo;<B>Agreement</B>&rdquo;), including any information deemed pursuant to Rule 430A, 430B or 430C under the Act to be part
of the registration statement at the time of its effectiveness, is hereinafter referred to as the &ldquo;<B>Registration Statement</B>&rdquo;,
and the base prospectus relating to the Securities, as supplemented to reflect the final terms of the Securities and the terms
of offering thereof, as first filed with the Commission pursuant to and in accordance with Rule 424(b) (&ldquo;<B>Rule 424(b)</B>&rdquo;)
under the Act, is hereinafter referred to as the &ldquo;<B>Prospectus</B>&rdquo;. Any reference in this Agreement to the Registration
Statement, the Preliminary Prospectus or the Prospectus shall be deemed to refer to and include the documents incorporated by reference
therein pursuant to Item 12 of Form S-3 under the Act, as of the most recent effective date of the Registration Statement or the
date of the Preliminary Prospectus or the Prospectus, as the case may be, and any reference to &ldquo;amend&rdquo;, &ldquo;amendment&rdquo;
or &ldquo;supplement&rdquo; with respect to the Registration Statement, the Preliminary Prospectus or the Prospectus shall be deemed
to refer to and include any documents filed after such date under the Securities Exchange Act of 1934, as amended, and the rules
and regulations of the Commission thereunder (collectively, the &ldquo;<B>Exchange Act</B>&rdquo;) that are deemed to be incorporated
by reference therein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>On its effective date and on the Closing Date (as defined below), the Registration Statement conformed, and will conform,
in all respects to the requirements of the Act, the Trust Indenture Act of 1939 (&ldquo;<B>Trust Indenture Act</B>&rdquo;) and
the rules and regulations of the Commission (&ldquo;<B>Rules and Regulations</B>&rdquo;) and did not and will not include any untrue
statement of a material fact or omit to state any material fact required to be stated therein or necessary to make the statements
therein not misleading, and as of its date and on the Closing Date, the Prospectus will conform in all respects to the requirements
of the Act and the Rules and Regulations, and will not include any untrue statement of a material fact or omit to state any material
fact required to be stated therein or necessary to make the statements therein, in the light of the circumstances under which they
were made, not misleading, except that the foregoing does not apply to statements in or omissions from any of such documents based
upon the Underwriter Information (as defined below).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>No order preventing or suspending the use of Preliminary Prospectus has been issued by the Commission, and the Preliminary
Prospectus, at the time of filing thereof, complied in all material respects with the Act and did not contain any untrue statement
of a material fact or omit to state a material fact necessary in order to make the statements therein, in light of the circumstances
under which they were made, not misleading, except that the foregoing does not apply to statements in or omissions from any of
such documents based upon the Underwriter Information (as defined below).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(d)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>The Time of Sale Information, at the Time of Sale did not, and at the Closing Date will not, contain any untrue statement
of a material fact or omit to state a material fact necessary in order to make the statements therein, in the light of the circumstances
under which they were made, not misleading; provided that the Company makes no representation and warranty with respect to any
statements or omissions made in reliance upon and in conformity with information relating to any Underwriter furnished to the Company
in writing by such Underwriter through the Representative expressly for use in such Time of Sale Information, it being understood
and agreed that the only such information consists of the following (collectively, the &ldquo;<B>Underwriter Information</B>&rdquo;):
the statements concerning the Underwriters contained in paragraphs 7 and 8 under the caption &ldquo;Underwriting&rdquo; in the
Preliminary Prospectus, and, with respect to each Underwriter, such Underwriter&rsquo;s name as it appears on the cover of the
Preliminary Prospectus.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(e)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>The Company (including its agents and representatives, other than the Underwriters in their capacity as such) has not prepared,
made, used, authorized, approved or referred to and will not prepare, make, use, authorize, approve or refer to any &ldquo;written
communication&rdquo; (as defined in Rule 405 under the Act) that constitutes an offer to sell or solicitation of any offer to buy
the Securities (each such communication by the Company or its agents and representatives (other than a communication referred to
in clauses (i), (ii) and (iii) below) an &ldquo;<B>Issuer Free Writing Prospectus</B>&rdquo;) other than (i)&nbsp;any document
not constituting a prospectus pursuant to Section 2(a)(10)(a) of the Act or Rule 134 under the Act, (ii)&nbsp;the Preliminary Prospectus,
(iii)&nbsp;the Prospectus, (iv)&nbsp;the documents listed in Schedule II hereto, and (v)&nbsp;any electronic roadshow or other
written communications, in each case, approved in writing in advance by the Representative. Each such Issuer Free Writing Prospectus
complied in all material respects with the Act, has been or will be (within the time period specified in Rule 433) filed in accordance
with the Act (to the extent required thereby) and, when taken together with the Preliminary Prospectus accompanying, or delivered
prior to delivery of, such Issuer Free Writing Prospectus, did not, and at the Closing Date will not, contain any untrue statement
of a material fact or omit to state a material fact necessary in order to make the statements therein, in the light of the circumstances
under which they were made, not misleading; provided that the Company makes no representation and warranty with respect to any
statements or omissions made in each such Issuer Free Writing Prospectus in reliance upon and in conformity with the Underwriter
Information. The Investor Presentation dated April 2020 (the &ldquo;<B>Investor Presentation</B>&rdquo;), when taken together with
the Preliminary Prospectus did not, and at the Closing Date will not, contain any untrue statement of a material fact or omit to
state a material fact necessary in order to make the statements therein, in the light of the circumstances under which they were
made, not misleading. Notwithstanding the foregoing, the Company will not prepare, make, use, authorize, approve or refer to any
Issuer Free Writing Prospectus that does not satisfy the conditions of Rule 164(e)(2) under the Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(f)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>The financial statements and the related notes thereto, included or incorporated by reference in the Registration Statement
and the Prospectus, present fairly the consolidated financial position of the Company and its consolidated subsidiaries as of the
dates indicated and the results of their operations and the changes in their consolidated cash flows for the periods specified;
and said financial statements have been prepared in conformity with generally accepted accounting principles in the United States
(&ldquo;<B>GAAP</B>&rdquo;) applied on a consistent basis, and the supporting schedules included or incorporated by reference in
the Registration Statement present fairly the information required to be stated therein. The financial data set forth in the Time
of Sale Information under the caption &ldquo;Summary&mdash;Summary Historical and Unaudited Pro Forma Consolidated Financial Information&rdquo;
fairly presents in all material respects the information set forth therein on a basis consistent with that of the audited financial
statements contained in the Time of Sale Information. The pro forma financial statements of the Company and its subsidiaries and
the related notes thereto included under the captions &ldquo;Summary&mdash;Summary Historical and Unaudited Pro Forma Consolidated
Financial Information,&rdquo; &ldquo;Unaudited Pro Forma Condensed Combined Financial Information&rdquo; and elsewhere in the Time
of Sale Information present fairly in all material respects the information contained therein, have been prepared in accordance
with the rules and guidelines of the Commission with respect to pro forma financial statements and have been properly presented
on the bases described therein, and the assumptions used in the preparation thereof are reasonable and the adjustments used therein
are appropriate to give effect to the transaction and circumstances referred to therein. The statistical and market related data
and forward looking statements included in the Time of Sale Information are based on or derived from sources that the Company believes
to be reliable and accurate in all material respects and represent good faith estimates that are made on the basis of data derived
from such sources.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(g)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Within the past three years, neither the Company nor any of its significant subsidiaries (as such term is defined in Rule
405 of the Act) nor, to the Company&rsquo;s knowledge, any director, officer, or employee of the Company or of any of its significant
subsidiaries, has taken any action, when acting on behalf of the Company or such significant subsidiaries, that would result in
a material violation of the Foreign Corrupt Practices Act of 1977, as amended, and the rules and regulations thereunder (the &ldquo;<B>FCPA</B>&rdquo;),
the U.K. Bribery Act of 2010 (the &ldquo;<B>Bribery Act</B>&rdquo;), any applicable law or regulation implementing the OECD Convention
on Combating Bribery of Foreign Public Officials in International Business Transactions (the &ldquo;<B>OECD Convention</B>&rdquo;)
or other applicable anti-bribery or anti-corruption laws, including, without limitation, making use of the mails or any means or
instrumentality of interstate commerce corruptly in furtherance of an offer, payment, promise to pay, or authorization or approval
of the payment or giving of money, property, gifts or anything else of value, directly or indirectly, to any &ldquo;foreign official&rdquo;
(as such term is defined in the FCPA) (including any foreign political party or official thereof or any candidate for foreign political
office) in contravention of the FCPA, the Bribery Act, the OECD Convention or other applicable anti-bribery or anti-corruption
laws; and except as otherwise disclosed in the Registration Statement or the Prospectus, the Company and its significant subsidiaries
have instituted and maintain policies and procedures designed to promote and achieve compliance therewith.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(h)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>The Company, the operations of the Company and its significant subsidiaries are and have been conducted at all times in
material compliance with all applicable financial recordkeeping and reporting requirements, including, to the extent applicable,
those of the Bank Secrecy Act, as amended by Title III of the Uniting and Strengthening America by Providing Appropriate Tools
Required to Intercept and Obstruct Terrorism Act of 2001 (&ldquo;<B>USA Patriot Act</B>&rdquo;), and the applicable anti-money
laundering statutes of jurisdictions where the Company and its significant subsidiaries conduct business, the rules and regulations
thereunder and any related or similar rules, regulations or guidelines, issued, administered or enforced by any governmental agency
in such jurisdictions (collectively, the &ldquo;<B>Anti-Money Laundering Laws</B>&rdquo;), and no action, suit or proceeding by
or before any court or governmental agency, authority or body or any arbitrator involving the Company or any of its significant
subsidiaries with respect to the Anti-Money Laundering Laws is pending or, to the best knowledge of the Company, threatened, except
for any noncompliance or action, suit or proceeding that will not individually or in the aggregate, have a material adverse effect
on the ability of the Underwriters to sell the Securities in the manner contemplated by the Prospectus or on the consolidated financial
position, shareholders&rsquo; equity or results of operations of the Company and its subsidiaries taken as a whole.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(i)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>(i) Neither the Company nor any of its significant subsidiaries, nor any director or officer thereof, nor, to the Company&rsquo;s
knowledge, any employee of the Company or any of its significant subsidiaries, is an individual or entity (&ldquo;<B>Person</B>&rdquo;)
that is:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-indent: 0.5in">(A)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>the subject of any sanctions administered or enforced by the U.S. Department of Treasury&rsquo;s Office of Foreign Assets
Control (&ldquo;<B>OFAC</B>&rdquo;) or Her Majesty&rsquo;s Treasury (&ldquo;<B>HMT</B>&rdquo;) (collectively, &ldquo;<B>Sanctions</B>&rdquo;),</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-indent: 0.5in">(B)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>located, organized or resident in a country or territory (as of the date hereof, Crimea, Cuba, Iran, North Korea and Syria)
that is the subject of Sanctions that broadly restrict or prohibit dealings with that country or territory, nor</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-indent: 0.5in">(C)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>a Person with whom dealings are restricted or prohibited by Sanctions as a result of a relationship of ownership or control
with a Person identified in (A) or (B).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 2in; text-align: left; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: 0.5in">(ii)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>The Company will not, directly or, to the knowledge of the Company, indirectly, use the proceeds of the offering, or lend,
contribute or otherwise make available such proceeds to any subsidiary, joint venture partner or other Person to fund or facilitate
any activities or business of or with any Person or in any country or territory that, at the time of such funding or facilitation,
is the subject of Sanctions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(j)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>No stamp, documentary, issuance, registration, transfer, withholding, capital gains, income or other taxes or duties (except
any such taxes or duties that would not have been required to be made but for a connection between any Underwriter and the United
States of America, and any political subdivision of the foregoing, other than a connection arising solely as a result of the transactions
contemplated hereunder) are payable by or on behalf of the Underwriters or the Company in the United States of America, and any
political subdivision of the foregoing in connection with (i) the execution, delivery or consummation of this Agreement, (ii) the
creation, allotment and issuance of the Securities, (iii) the sale and delivery of the Securities to the Underwriters or purchasers
procured by the Underwriters or (iv) the resale and delivery of the Securities by the Underwriters in the manner contemplated herein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(k)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>There has not occurred any material adverse change in the condition, financial or otherwise, or in the earnings, business
or operations of the Company and its subsidiaries, taken as a whole, from that set forth in the Time of Sale Information provided
to prospective purchasers of the Securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(l)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Subsequent to the respective dates as of which information is given in each of the Time of Sale Information and the Prospectus,
(i) the Company and its subsidiaries have not incurred any material liability or obligation, direct or contingent, nor entered
into any material transaction; (ii) the Company has not purchased any of its outstanding capital stock, nor declared, paid or otherwise
made any dividend or distribution of any kind on its capital stock other than ordinary and customary dividends; and (iii) there
has not been any material change in the capital stock, short term debt or long term debt of the Company and its subsidiaries, except
in each case as described in each of the Time of Sale Information and the Prospectus, respectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(m)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Each of the Company and its significant subsidiaries (i) has been duly organized, is validly existing and is in good standing
(or equivalent concept) under the laws of the jurisdiction of its organization or formation, and has the power and authority to
own its property and to conduct its business as described in the Time of Sale Information; and (ii) is duly qualified to transact
business and is in good standing (or equivalent concept) in each jurisdiction in which the conduct of its business or its ownership
or leasing of property requires such qualification, except to the extent that the failure to be so qualified or be in good standing
(or equivalent concept) would not, individually or in the aggregate, reasonably be expected to result in a Material Adverse Effect
(as defined below) or a material adverse effect on the issuance and delivery of the Securities. For the purposes of this Agreement,
a &ldquo;<B>Material Adverse Effect</B>&rdquo; means a materially adverse effect on the business, assets, operations or financial
condition of the Company and its subsidiaries, taken as a whole, or on the performance by the Company of its obligations under
this Agreement and the Securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(n)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>The Indenture has been duly authorized, executed and delivered by the Company and constitutes a valid and legally binding
agreement of the Company enforceable against the Company in accordance with its terms, except as enforceability may be limited
by (i) any applicable bankruptcy, insolvency, reorganization, moratorium, fraudulent conveyance or transfer or other laws relating
to or affecting creditors&rsquo; rights generally, (ii) general principles of equity (regardless of whether such enforceability
is considered in a proceeding in equity or at law) and (iii) the effect of judicial application of foreign laws or foreign governmental
actions affecting creditors&rsquo; rights (collectively, the &ldquo;<B>Enforceability Exceptions</B>&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(o)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>The Officers&rsquo; Certificate has been duly authorized and will be duly executed and delivered by the Company by the Closing
Date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(p)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>The Securities have been duly authorized by the Company and, when duly executed, authenticated, issued and delivered as
provided in the Indenture and the Officers&rsquo; Certificate and paid for as provided herein, will be duly and validly issued
and outstanding and will constitute valid and legally binding obligations of the Company enforceable against the Company in accordance
with their terms, subject to the Enforceability Exceptions, and will be entitled to the benefits of the Indenture.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(q)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>This Agreement has been duly authorized, executed and delivered by the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(r)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Neither the Company nor any of its significant subsidiaries is (i) in violation of its charter, bylaws or other constitutive
document or (ii) in default (or, with the giving of notice or lapse of time, would be in default) (&ldquo;<B>Default</B>&rdquo;)
under any indenture, mortgage, loan or credit agreement, note, contract, franchise, lease or other instrument to which the Company
or any of its significant subsidiaries is a party or by which it or any of them may be bound, or to which any of the property or
assets of the Company or any of its significant subsidiaries is subject (each, an &ldquo;<B>Existing Instrument</B>&rdquo;), except,
in the case of clause (ii) above, for such Defaults, as applicable, as would not, individually or in the aggregate, reasonably
be expected to result in a Material Adverse Effect. The issuance and delivery of the Securities (i) will not result in any violation
of the provisions of the charter, bylaws or other constitutive document of the Company or any significant subsidiary, (ii) will
not conflict with or constitute a breach of, or Default or a Debt Repayment Triggering Event (as defined below) under, or result
in the creation or imposition of any lien, charge or encumbrance upon any property or assets of the Company or any of its significant
subsidiaries pursuant to, or require the consent of any other party to, any Existing Instrument and (iii) will not result in any
violation of any law, administrative regulation or administrative or court decree applicable to the Company or any significant
subsidiary, except in the case of clauses (ii) and (iii) above, for such conflicts, breaches, Defaults, liens, charges, encumbrances
or violations as would not, individually or in the aggregate, reasonably be expected to result in a Material Adverse Effect or
a material adverse effect on the issuance and delivery of the Securities. As used herein, a &ldquo;<B>Debt Repayment Triggering
Event</B>&rdquo; means any event or condition which gives, or with the giving of notice or lapse of time would give, the holder
of any note, debenture or other evidence of indebtedness (or any person acting on such holder&rsquo;s behalf) the right to require
the repurchase, redemption or repayment of all or a portion of such indebtedness by the Company or any of its subsidiaries.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(s)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>No consent, approval, authorization or other order of, or registration or filing with, any court or other governmental or
regulatory authority or agency is required for the the issuance and delivery of the Securities except for (i) those that have been
obtained or made by the Company and are in full force and effect under the Securities Act or applicable securities laws of the
several states of the United States and (ii) those that would not, individually or in the aggregate, reasonably be expected to
have a Material Adverse Effect or a material adverse effect on the issuance and delivery of the Securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(t)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Other than proceedings accurately described in all material respects in the Time of Sale Information, there are no legal
or governmental proceedings pending or, to the best of the knowledge of the Company, threatened to which the Company or any of
its subsidiaries is a party or to which any of the properties of the Company or any of its subsidiaries is subject that would reasonably
be expected, individually or in the aggregate, to result in a Material Adverse Effect or a material adverse effect on the issuance
and delivery of the Securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(u)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>PricewaterhouseCoopers LLP, which expressed its opinion with respect to the financial statements (which term as used in
this Agreement includes the related notes thereto) and supporting schedules included in the Time of Sale Information, are independent
public or certified public accountants within the meaning of the Public Company Accounting Oversight Board.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(v)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>The Company and its significant subsidiaries have good and marketable title in fee simple (or the equivalent in foreign
jurisdictions) to all real property and good and marketable title to all personal property owned by them that is material to the
business of the Company and its significant subsidiaries, in each case free and clear of all liens, encumbrances and defects except
such as (i) are described in the Time of Sale Information, (ii) arise as a matter of law or (iii) do not materially affect the
value of such property and do not interfere with the use made and proposed to be made of such property by the Company and its significant
subsidiaries. Any real property and buildings held under lease by the Company and its significant subsidiaries are held by them
under valid, subsisting and enforceable leases with such exceptions as are not material and do not interfere with the use made
and proposed to be made of such property and buildings by the Company and its significant subsidiaries, in each case except as
described in the Time of Sale Information and the Prospectus.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(w)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>The Company is not, and after giving effect to the offering and sale of the Securities, and the application of the proceeds
thereof as described in the Time of Sale Information and Prospectus, will not be, required to register as an &ldquo;investment
company&rdquo; as such term is defined in the Investment Company Act of 1940, as amended (the &ldquo;<B>Investment Company Act</B>&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(x)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Except as disclosed in the Time of Sale Information and the Prospectus: (i)(A) each of the Company and its subsidiaries,
and their respective operations and facilities, are in compliance with, and not subject to any known liabilities under, applicable
Environmental Laws (as defined below), which compliance includes, without limitation, having obtained and being in compliance with
any permits, licenses or other governmental authorizations or approvals, and having made all filings and provided all financial
assurances and notices, required for the ownership and operation of the business, properties and facilities of the Company or its
subsidiaries under applicable Environmental Laws, and compliance with the terms and conditions thereof; (B) neither the Company
nor any of its subsidiaries has received any written communication, whether from a governmental authority, citizens group, employee
or otherwise, that alleges that the Company or any of its subsidiaries is in violation of any Environmental Law; (C) there is no
claim, action or cause of action filed with a court or governmental authority, no investigation with respect to which the Company
has received written notice, and no written notice by any person or entity alleging actual or potential liability on the part of
the Company or any of its subsidiaries based on or pursuant to any Environmental Law pending or, to the best of the Company&rsquo;s
knowledge, threatened against the Company or any of its subsidiaries or any person or entity whose liability under or pursuant
to any Environmental Law the Company or any of its subsidiaries has retained or assumed either contractually or by operation of
law; (D) neither the Company nor any of its subsidiaries is conducting or paying for, in whole or in part, any investigation, response
or other corrective action pursuant to any Environmental Law at any site or facility, nor is any of them subject or a party to
any order, judgment, decree, contract or agreement which imposes any obligation or liability under any Environmental Law; (E) to
the knowledge of the Company, no lien, charge, encumbrance or restriction has been recorded pursuant to any Environmental Law with
respect to any assets, facility or property owned, operated or leased by the Company or any of its subsidiaries; and (F) to the
knowledge of the Company, there are no past or present actions, activities, circumstances, conditions or occurrences, including,
without limitation, the Emission (as defined below) or threatened Emission of any Material of Environmental Concern (as defined
below), that could reasonably be expected to result in a violation of or liability under any Environmental Law on the part of the
Company or any of its subsidiaries, including without limitation, any such liability which the Company or any of its subsidiaries
has retained or assumed either contractually or by operation of law, other than, in the cases (A) through (F), for matters that
would not reasonably be expected to result in a Material Adverse Effect; and (ii) none of the Company or its subsidiaries is aware
of any facts or issues relating to compliance with Environmental Law that would reasonably be expected to have a material effect
on their capital expenditures, earnings or the competitive position, and there are no proceedings that are pending against the
Company or its subsidiaries to which a governmental entity is also a party, other than such proceedings as to which the Company
reasonably believes that no monetary sanctions of $100,000 or more will be imposed. For purposes of this Agreement, &ldquo;<B>Environment</B>&rdquo;
means ambient air, indoor air, surface water, groundwater, drinking water, soil, surface and subsurface strata, and natural resources
such as wetlands, flora and fauna. &ldquo;<B>Environmental Laws</B>&rdquo; means the common law and all federal, state, local and
foreign laws or regulations, ordinances, codes, orders, decrees, judgments and injunctions issued, promulgated or entered thereunder,
relating to pollution or protection of the Environment or human health, including without limitation, those relating to (i) the
Emission or threatened Emission of Materials of Environmental Concern; and (ii) the manufacture, processing, distribution, use,
generation, treatment, storage, transport, handling or recycling of Materials of Environmental Concern. &ldquo;<B>Materials of
Environmental Concern</B>&rdquo; means any substance, material, pollutant, contaminant, chemical, waste, compound, or constituent,
in any form, including without limitation, petroleum and petroleum products, subject to regulation or which can give rise to liability
under any Environmental Law. &ldquo;<B>Emission</B>&rdquo; means any release, spill, emission, discharge, deposit, disposal, leaking,
pumping, pouring, dumping, emptying, injection or leaching into the Environment, or into, from or through any building, structure
or facility.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"></P>

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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(y)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Except as would not reasonably be expected to result in a Material Adverse Effect, the Company and its subsidiaries and
any &ldquo;employee benefit plan&rdquo; (as defined under the Employee Retirement Income Security Act of 1974 as amended, &ldquo;<B>ERISA,</B>&rdquo;
which term, as used herein, includes the regulations and published interpretations thereunder) established or maintained by the
Company and its subsidiaries or their &ldquo;ERISA Affiliates&rdquo; (as defined below) are in compliance in all material respects
with ERISA, to the extent applicable. &ldquo;<B>ERISA Affiliate</B>&rdquo; means, with respect to the Company or a subsidiary of
the Company, any member of any group of organizations described in Section 414 of the Internal Revenue Code of 1986 (as amended,
the &ldquo;Code,&rdquo; which term, as used herein, includes the regulations and published interpretations thereunder) of which
the Company or such subsidiary is a member. Except as would not reasonably be expected to result in a Material Adverse Effect,
no &ldquo;reportable event&rdquo; (as defined under ERISA) has occurred or is reasonably expected to occur with respect to any
 &ldquo;employee benefit plan&rdquo; established or maintained by the Company, its subsidiaries or any of their ERISA Affiliates.
Except as would not reasonably be expected to result in a Material Adverse Effect, no &ldquo;employee benefit plan&rdquo; established
or maintained by the Company or its subsidiaries or any of their ERISA Affiliates, if such &ldquo;employee benefit plan&rdquo;
were terminated, would have any &ldquo;amount of unfunded benefit liabilities&rdquo; (as defined under ERISA). Except as would
not reasonably be expected to result in a Material Adverse Effect, neither the Company nor its subsidiaries nor any of their ERISA
Affiliates has incurred or reasonably expects to incur any liability under (i) Title IV of ERISA with respect to termination of,
or withdrawal from, any &ldquo;employee benefit plan&rdquo; or (ii) Sections 412, 4971, 4975 or 4980B of the Code. Except as would
not reasonably be expected to result in a Material Adverse Effect, each &ldquo;employee benefit plan&rdquo; established or maintained
by the Company or its subsidiaries or any of their ERISA Affiliates that is intended to be qualified under Section 401 of the Code
is so qualified and nothing has occurred, whether by action or failure to act, which would cause the loss of such qualification).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(z)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Except as would not, individually or in the aggregate, have a Material Adverse Effect, the information technology assets,
equipment, systems, networks, software and hardware and the computers, websites, applications and databases of the Company and
its subsidiaries (collectively, &ldquo;<B>IT Systems</B>&rdquo;) are adequate for the operation of the business of the Company
and its significant subsidiaries as currently conducted, and, to the best of the Company&rsquo;s knowledge, are free and clear
of all bugs, errors, defects, Trojan horses, time bombs, malware and other corruptants. Except as would not, individually or in
the aggregate have a Material Adverse Effect, (i) the Company and its significant subsidiaries have implemented and maintained
commercially reasonable policies, procedures and safeguards to maintain and protect their confidential information and the integrity,
continuous operation, redundancy and security of all IT Systems and data, including all personal and personally identifiable data
(together, &ldquo;<B>Personal Data</B>&rdquo;) and sensitive and confidential data, in connection with their businesses, and (ii)
there have been, to the best of the Company&rsquo;s knowledge, no breaches, violations or unauthorized uses of or accesses to same,
except for those that have been remedied. Except as would not, individually or in the aggregate, reasonably be expected to have
a Material Adverse Effect, the Company and its significant subsidiaries are presently in compliance with all applicable laws or
statutes and all applicable judgments, orders, rules and regulations of any court or arbitrator or governmental or regulatory authority,
internal policies and contractual obligations relating to the privacy and security of IT Systems and Personal Data collected by
the Company or its significant subsidiaries.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(aa)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>The Company has not taken, directly or indirectly, any action designed to or that might be reasonably expected to cause
or result in stabilization or manipulation of the price of any security of the Company to facilitate the sale or resale of the
Securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(bb)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Neither the Company nor any agent thereof acting on its behalf has taken, and none of them will take, any action that might
cause this Agreement or the issuance or sale of the Securities to violate Regulation T, Regulation U or Regulation X of the Board
of Governors of the Federal Reserve System.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(cc)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>The Company and each of its subsidiaries maintain a system of internal accounting controls sufficient to provide reasonable
assurance that (i) transactions are executed in accordance with management&rsquo;s general or specific authorizations, (ii) transactions
are recorded as necessary to permit preparation of financial statements in conformity with GAAP and to maintain asset accountability,
(iii) access to assets is permitted only in accordance with management&rsquo;s general or specific authorization and (iv) the recorded
accountability for assets is compared with the existing assets at reasonable intervals and appropriate action is taken with respect
to any differences. There has been no material weakness in the Company&rsquo;s internal control over financial reporting (whether
or not remediated) that has materially affected, or is reasonably likely to materially affect, the Company&rsquo;s internal control
over financial reporting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(dd)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>The Company and its subsidiaries employ disclosure controls and procedures (as defined in Rule 13a-15 and 15d-15 under the
Exchange Act) that are designed to ensure that information required to be disclosed by the Company in the reports that it files
or submits under the Exchange Act is recorded, processed, summarized and reported, within the time periods specified in the Commission&rsquo;s
rules and forms, and is accumulated and communicated to the Company&rsquo;s management, including its chief executive officer or
officers and chief financial officer, as appropriate, to allow timely decisions regarding disclosure.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(ee)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>The Company is in compliance in all material respects with all applicable provisions of the Sarbanes-Oxley Act of 2002 and
the rules and regulations of the Commission promulgated in connection therewith.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(ff)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>The Company and its subsidiaries have filed all federal, state, local and foreign tax returns required to be filed or have
requested extensions of the filing deadlines therefor, except in any case where the failure to so file could not reasonably be
expected, individually or in the aggregate, to have a Material Adverse Effect; the Company and its subsidiaries have paid all
federal, state, local and foreign taxes required to be paid through the date hereof, except any such taxes that are being contested
in good faith by appropriate proceedings and for which the Company, to the extent required by GAAP, has set aside on its books
adequate reserves, except where the failure to pay such taxes could not reasonably be expected, individually or in the aggregate,
to have a Material Adverse Effect.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">3.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Purchase, Offering and Delivery.</U> (a) The Company hereby agrees to sell to the several Underwriters, and each Underwriter,
upon the basis of the representations and warranties herein contained, but subject to the conditions hereinafter stated, agrees,
severally and not jointly, to purchase from the Company the respective amounts of Securities set forth opposite such Underwriter&rsquo;s
name in Schedule I hereto at a purchase price of 99.125% of the principal amount of the Securities, plus accrued and unpaid interest,
if any, from April 24, 2020 to the Closing Date (as defined below).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>The Representative has advised the Company that the Underwriters propose to make a public offering of their respective portions
of the Securities as soon after this Agreement has become effective as in the judgment of the Representative is advisable. The
Company acknowledges and agrees that the Underwriters may offer and sell Securities to or through any affiliate of an Underwriter
and that such affiliate may offer and sell Securities purchased by it to or through any Underwriter.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Payment for the Securities shall be made to the Company in Federal or other funds immediately available in New York City
against delivery of such Securities for the respective accounts of the several Underwriters at 10:00 a.m., New York City time,
on April 24, 2020, or such other time and date as the Representative and the Company may agree upon in writing (such date and time
of delivery and payment being herein called the &ldquo;<B>Closing Date</B>&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(d)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Delivery of the Securities shall be made through the facilities of The Depository Trust Company (&ldquo;<B>DTC</B>&rdquo;)
and shall be in global form and deposited with the Trustee as custodian for DTC and registered in the name of Cede &amp; Co.,
as nominee for DTC, unless the Representative shall otherwise instruct.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">4.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Covenants of the Company.</U> The Company covenants and agrees with the several Underwriters that in connection with
the offering of the Securities:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>The Company will file any Issuer Free Writing Prospectus (including the Final Term Sheet) to the extent required by Rule
433 under the Act and will file the Preliminary Prospectus and the Prospectus with the Commission pursuant to and in accordance
with Rule 424(b) not later than the time required by such rules.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Prior to the Closing Date, the Company will advise the Representative promptly of any proposal to prepare, use, authorize,
approve, refer to or file any Issuer Free Writing Prospectus or to amend or supplement the Registration Statement or the Prospectus
and will afford the Representative a reasonable opportunity to comment on any such proposed Issuer Free Writing Prospectus or amendment
or supplement and the Company will also advise the Representative promptly of any use, authorization, approval, reference to or
filing of any Issuer Free Writing Prospectus, the filing of any such amendment or supplement and of the institution by the Commission
of any stop order proceedings or any proceedings pursuant to Section 8A of the Act in respect of the Registration Statement or
of any parts thereof and will use its best efforts to prevent the issuance of any such stop order and to obtain as soon as possible
its lifting, if issued. Notwithstanding the foregoing, the Company will not prepare, make, use, authorize, approve or refer to
any Issuer Free Writing Prospectus that does not satisfy the conditions of Rule 164(e)(2) under the Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>(1)&nbsp;If, at any time when a prospectus relating to the Securities is required to be delivered under the Act, or required
to be delivered but for Rule 172 under the Act (the &ldquo;<B>Prospectus Delivery Period</B>&rdquo;), any event occurs as a result
of which the Prospectus as then amended or supplemented would include an untrue statement of a material fact or omit to state any
material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading,
or if it is necessary at any time to amend the Prospectus to comply with the Act, the Company promptly will prepare and file with
the Commission an amendment or supplement which will correct such statement or omission or an amendment which will effect such
compliance and (2)&nbsp;if at any time prior to the Closing Date (i)&nbsp;any event shall occur or condition shall exist as a result
of which the Time of Sale Information as then amended or supplemented would include any untrue statement of a material fact or
omit to state any material fact necessary in order to make the statements therein, in the light of the circumstances, not misleading
or (ii)&nbsp;it is necessary to amend or supplement the Time of Sale Information to comply with law, the Company will immediately
notify the Underwriters thereof and forthwith prepare and, subject to paragraph (b) above, file with the Commission (to the extent
required) and furnish to the Underwriters and to such dealers as the Representative may designate, such amendments or supplements
to the Time of Sale Information as may be necessary so that the statements in the Time of Sale Information as so amended or supplemented
will not, in the light of the circumstances, be misleading or so that the Time of Sale Information will comply with law. Neither
the Representative&rsquo;s consent to, nor the Underwriters&rsquo; delivery of, any such amendment or supplement shall constitute
a waiver of any of the conditions set forth in Section 5.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(d)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>As soon as practicable, but not later than 16 months after the date of this Agreement, the Company will make generally available
to its security-holders an earnings statement covering a period of at least 12 months beginning after the later of (i)&nbsp;the
effective date of the Registration Statement, (ii)&nbsp;the effective date of the most recent post-effective amendment to the Registration
Statement and (iii)&nbsp;the date of the Company&rsquo;s most recent Annual Report on Form 10-K filed with the Commission prior
to the date of this Agreement, which will satisfy the provisions of Section 11(a) of the Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(e)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>The Company will furnish to the Representative copies of the Registration Statement, including all exhibits, any prospectus,
any related preliminary prospectus supplement, any related Issuer Free Writing Prospectus, any Time of Sale Information, the Prospectus
and all amendments and supplements to such documents, in each case as soon as available and in such quantities as are reasonably
requested.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(f)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>The Company will arrange for the qualification of the Securities and the determination of their eligibility for investment
under the laws of such jurisdictions as the Representative designates and will continue such qualifications in effect so long as
required for the distribution, provided that the Company shall not be required to qualify as a foreign corporation or to take any
action that would subject it to general service of process in any such jurisdiction where it is not presently qualified or where
it would be subject to taxation as a foreign corporation in a jurisdiction where it is not presently subject to taxation as a foreign
corporation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(g)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>The Company will pay all expenses incident to the performance of its obligations under this Agreement and will reimburse
the Underwriters for any expenses (including reasonable fees and disbursements of counsel) incurred by them in connection with
qualification of the Securities for sale and determination of their eligibility for investment under the laws of such jurisdictions
as the Representative may designate and the printing of memoranda relating thereto, for the filing fee, if any, of the Financial
Industry Regulatory Authority relating to the Securities and for expenses incurred in distributing the Prospectus, the Preliminary
Prospectus, any Issuer Free Writing Prospectus and any Time of Sale Information to the Underwriters.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(h)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>The Company shall pay, and shall indemnify and hold the Underwriters harmless against, any stamp or other issuance or transfer
taxes that are payable in connection with (i) the execution, delivery, consummation or enforcement of this Agreement, (ii) the
creation, allotment and issuance of the Securities, (iii) the sale and delivery of the Securities to the Underwriters or purchasers
procured by the Underwriters or (iv) the resale and delivery of the Securities by the Underwriters in the manner contemplated herein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(i)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>The Company hereby agrees that, without the prior written consent of the Representative on behalf of the Underwriters, it
will not, during the period beginning on the date hereof and ending on the Closing Date, offer, sell, contract to sell or otherwise
dispose of any securities issued or guaranteed by the Company (other than pursuant to director or employee stock or other benefit
plans existing or the conversion of convertible securities outstanding on the date hereof) which are substantially similar to its
United States dollar-denominated debt securities having a maturity of more than one year.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(j)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>The Company will, pursuant to reasonable procedures developed in good faith, retain copies of each Issuer Free Writing Prospectus
that is not filed with the Commission in accordance with Rule 433 under the Securities Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(i)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>The
Company will assist the Underwriters in arranging for the Securities to be eligible for clearance and settlement through DTC.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">5.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Conditions of the Obligations of the Underwriters.</U> The obligations of the several Underwriters to purchase and pay
for the Securities will be subject to the accuracy of the representations and warranties on the part of the Company herein on and
as of the Time of Sale and on and as of the Closing Date as if made on the Closing Date, to the accuracy of the statements of Company
officers made pursuant to the provisions hereof, to the performance by the Company of its obligations hereunder and to the following
additional conditions precedent:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>The Representative shall have received a letter, dated as of the date of this Agreement, of PricewaterhouseCoopers LLP,
in form and substance satisfactory to the Representative, containing statements and information of the type ordinarily included
in accountants&rsquo; &ldquo;comfort letters&rdquo; to underwriters with respect to the financial statements of the Company and
its subsidiaries included or incorporated by reference in the Registration Statement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>The Prospectus and each Issuer Free Writing Prospectus (if required by Rule 433 under the Act) shall have been filed with
the Commission in accordance with the Rules and Regulations and Section 4(a) of this Agreement. No stop order suspending the effectiveness
of the Registration Statement or of any parts thereof shall have been issued and no proceedings for that purpose or pursuant to
Section 8A under the Act shall have been instituted or, to the knowledge of the Company or any Underwriter, shall be contemplated
by the Commission.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Subsequent to the earlier of (A)&nbsp;the Time of Sale and (B)&nbsp;the execution of this Agreement, there shall not have
occurred (i)&nbsp;any change, or any development or event involving a prospective change, in or affecting particularly the business
or properties of the Company, or its subsidiaries which, in the judgment of the Representative, materially impairs the investment
quality of the Securities; (ii)&nbsp;any downgrading in the rating of any debt securities of the Company by any &ldquo;nationally
recognized statistical rating organization&rdquo; (as defined in Section 3(a)(62) of the Exchange Act), or any public announcement
that any such organization has under surveillance or review its rating of any debt securities of the Company (other than an announcement
with positive implications of a possible upgrading, and no implication of a possible downgrading, of such rating); (iii)&nbsp;any
suspension or limitation of trading in securities generally on the New York Stock Exchange, or the setting of minimum prices for
trading on such exchange, or any suspension of trading of any securities of the Company on such exchange or in the over-the-counter
market; (iv)&nbsp;any banking moratorium declared by Federal or New York authorities; or (v)&nbsp;any outbreak or escalation of
major hostilities in which the United States is involved, any declaration of war by Congress or any other substantial national
or international calamity or emergency that, in the reasonable judgment of the Representative, the effect of any such outbreak,
escalation, declaration, calamity or emergency makes it impractical or inadvisable to proceed with completion of the sale of and
payment for the Securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(d)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>The Representative shall have received an opinion or opinions, dated the Closing Date, of K&amp;L Gates LLP, in form and
substance reasonably satisfactory to the Representative.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(e)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>The Representative shall have received an opinion and 10b-5 statement, each dated the Closing Date, of Cleary Gottlieb Steen
 &amp; Hamilton LLP, counsel for the Company, in form and substance reasonably satisfactory to the Representative.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(f)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>The Representative shall have received from Cravath, Swaine &amp; Moore LLP, counsel for the Underwriters, such opinion
and 10b-5 statement, each dated the Closing Date, with respect to the incorporation of the Company, the validity of the Securities,
the Registration Statement, the Time of Sale Information, the Prospectus and other related matters as they may require, and the
Company shall have furnished to such counsel such documents as they request for the purpose of enabling them to pass upon such
matters. In rendering such opinion, Cravath, Swaine &amp; Moore LLP may rely as to matters governed by Pennsylvania law, upon the
opinions referred to in subsections (d) of this Section.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(g)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>The Representative shall have received a certificate, dated the Closing Date, of the Chairman of the Board, President or
any Vice-President and a principal financial or accounting officer of the Company in which such officers, to the best of their
knowledge after reasonable investigation, shall state that the representations and warranties of the Company in this Agreement
are true and correct, that the Company has complied with all agreements and satisfied all conditions on its part to be performed
or satisfied hereunder at or prior to the Closing Date, that no stop order suspending the effectiveness of the Registration Statement
or of any parts thereof has been issued and no proceedings for that purpose or pursuant to Section 8A of the Act have been instituted
or are contemplated by the Commission and that, subsequent to the date of the most recent financial statements in the Prospectus,
there has been no material adverse change in the financial position or results of operations of the Company and its subsidiaries
considered in the aggregate, except as set forth in or contemplated by the Time of Sale Information and the Prospectus.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(h)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>The Representative shall have received a certificate, dated the date hereof and the Closing Date, of the chief financial
officer of the Company with respect to certain financial data contained in the Time of Sale Information and the Prospectus, in
form and substance reasonably satisfactory to the Representative.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(i)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>The Representative shall have received a letter, dated the Closing Date, of PricewaterhouseCoopers LLP, in form and substance
satisfactory to the Underwriters, which reconfirms the matters set forth in their letter delivered pursuant to subsection (a)&nbsp;of
this Section and covers any additional financial information included in the Prospectus (which is not covered by their letter delivered
pursuant to subsection (a) of this Section).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(j)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>The Securities shall be eligible for clearance and settlement through DTC.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">The Company will furnish the Representative
with such conformed copies of such opinions, certificates, letters and documents they reasonably request.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">6.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Indemnification and Contribution.</U> (a) The Company will indemnify and hold harmless each Underwriter against any losses,
claims, damages or liabilities, joint or several, to which such Underwriter may become subject, under the Act or otherwise, insofar
as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon (i)&nbsp;any untrue
statement or alleged untrue statement of any material fact contained in the Registration Statement or arise out of or are based
upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements
therein not misleading, or (ii)&nbsp;any untrue statement or alleged untrue statement of a material fact contained in the Investor
Presentation, the Prospectus (or any amendment or supplement thereto), any Issuer Free Writing Prospectus or any Time of Sale Information,
or caused by any omission or alleged omission to state therein a material fact necessary in order to make the statements therein,
in light of the circumstances under which they were made, not misleading; and will reimburse each Underwriter for any legal or
other expenses reasonably incurred by such Underwriter in connection with investigating or defending any such loss, claim, damage,
liability or action as such expenses are incurred; provided, however, that the Company will not be liable in any such case to the
extent that any such loss, claim, damage or liability arises out of or is based upon an untrue statement or alleged untrue statement
in or omission or alleged omission from any of such documents in reliance upon and in conformity with the Underwriter Information.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Each Underwriter, severally and not jointly, will indemnify and hold harmless the Company against any losses, claims, damages
or liabilities to which the Company may become subject, under the Act or otherwise, insofar as such losses, claims, damages or
liabilities (or actions in respect thereof) arise out of or are based upon (i)&nbsp;any untrue statement or alleged untrue statement
of any material fact contained in the Registration Statement, or arise out of or are based upon the omission or the alleged omission
to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, or (ii)&nbsp;any
untrue statement or alleged untrue statement of a material fact contained in the Prospectus (or any amendment or supplement thereto),
any Issuer Free Writing Prospectus or any Time of Sale Information, or caused by any omission or alleged omission to state therein
a material fact necessary in order to make the statements therein, in light of the circumstances under which they were made, not
misleading, in each case to the extent, but only to the extent, that such untrue statement or alleged untrue statement or omission
or alleged omission was made in reliance upon and in conformity with the Underwriter Information, and will reimburse any legal
or other expenses reasonably incurred by the Company in connection with investigating or defending any such loss, claim, damage,
liability or action as such expenses are incurred.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Promptly after receipt by an indemnified party under this Section of notice of the commencement of any action, such indemnified
party will, if a claim in respect thereof is to be made against the indemnifying party under subsection (a) or (b) above, notify
the indemnifying party of the commencement thereof; but the omission so to notify the indemnifying party will not relieve it from
any liability which it may have to any indemnified party otherwise than under subsection (a) or (b) above. In case any such action
is brought against any indemnified party and it notifies the indemnifying party of the commencement thereof, the indemnifying party
will be entitled to participate therein and, to the extent that it may wish, jointly with any other indemnifying party similarly
notified, to assume the defense thereof, with counsel satisfactory to such indemnified party (who shall not, except with the consent
of the indemnified party, be counsel to the indemnifying party), and after notice from the indemnifying party to such indemnified
party of its election so to assume the defense thereof, the indemnifying party will not be liable to such indemnified party under
this Section for any legal or other expenses subsequently incurred by such indemnified party in connection with the defense thereof
other than reasonable costs of investigation; provided, however, if the defendants in any such action include both the indemnified
party and the indemnifying party and the indemnified party shall have reasonably concluded that actual conflicts of interest exist
between the positions of the indemnifying party and the indemnified party in conducting the defense of any such action or that
there are legal defenses relating to a material aspect of such action available to it or other indemnified parties that are different
from or additional to those available to the indemnifying party, the indemnified party or parties shall have the right to control,
and otherwise participate in, the defense of such action and the indemnifying party will reimburse any legal or other expenses
reasonably incurred by the indemnified party in connection with investigating or defending such action as such expenses are incurred.
Notwithstanding anything to the contrary herein, no indemnifying party shall, without the prior written consent of the indemnified
party, effect any settlement of any pending or threatened proceeding in respect of which any indemnified party is or could have
been a party and indemnity could have been sought hereunder by such indemnified party, unless such settlement includes an unconditional
release of such indemnified party from all liability on claims that are the subject matter of such proceeding and does not include
any statements as to or any findings of fault, culpability or failure to act by or on behalf of any indemnified party.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(d)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>If recovery is not available under the foregoing indemnification provisions of this Section, for any reason other than as
specified therein, the parties entitled to indemnification by the terms thereof shall be entitled to contribution to liabilities
and expenses, except to the extent that contribution is not permitted under Section 11(f) of the Act. Each indemnifying party shall
contribute to the amount paid or payable by such indemnified party as a result of the losses, claims, damages or liabilities referred
to in subsection (a) or (b) above (i)&nbsp;in such proportion as is appropriate to reflect the relative benefits received by the
Company on the one hand and the Underwriters on the other from the offering of the Securities or (ii)&nbsp;if the allocation provided
by clause (i) above is not permitted by applicable law, in such proportion as is appropriate to reflect not only the relative benefits
referred to in clause (i) above but also the relative fault of the Company on the one hand and the Underwriters on the other in
connection with the statements or omissions which resulted in such losses, claims, damages or liabilities as well as any other
equitable considerations appropriate under the circumstances. The relative benefits received by the Company on the one hand and
the Underwriters on the other shall be deemed to be in the same proportion as the total net proceeds from the offering (before
deducting expenses) received by the Company bear to the total underwriting discounts and commissions received by the Underwriters.
The relative fault shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a
material fact or the omission or alleged omission to state a material fact relates to information supplied by the Company or the
Underwriters and the parties&rsquo; relative intent, knowledge, access to information and opportunity to correct or prevent such
untrue statement or omission. The amount paid by an indemnified party as a result of the losses, claims, damages or liabilities
referred to in the second sentence of this subsection (d) shall be deemed to include any legal or other expenses reasonably incurred
by such indemnified party in connection with investigating or defending any action or claim which is the subject of this subsection
(d). Notwithstanding the provisions of this subsection (d), no Underwriter shall be required to contribute any amount in excess
of the amount by which the total price at which the Securities underwritten by it and distributed to the public were offered to
the public exceeds the amount of any damages which such Underwriter and its controlling persons have otherwise been required to
pay by reason of such untrue or alleged untrue statement or omission or alleged omission. The Underwriters&rsquo; obligations to
contribute are several in proportion to their respective underwriting obligations and not joint.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(e)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>The obligations of the Company under this Section shall be in addition to any liability which the Company may otherwise
have and shall extend, upon the same terms and conditions, to each affiliate and each person, if any, who controls any Underwriter
within the meaning of the Act; and the obligations of the Underwriters under this Section shall be in addition to any liability
which the respective Underwriters may otherwise have and shall extend, upon the same terms and conditions, to each director of
the Company, to each officer of the Company who has signed any of the Registration Statements or any parts thereof and to each
person, if any, who controls the Company within the meaning of the Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">7.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Default of Underwriters.</U> If any Underwriter or Underwriters default in their obligations to purchase Securities under
this Agreement on the Closing Date and the principal amount of Securities which such defaulting Underwriter or Underwriters agreed
but failed to purchase does not exceed 10% of the total principal amount of the Securities to be purchased on such date, the Representative
may make arrangements satisfactory to the Company for the purchase of such Securities by other persons, including any of the Underwriters,
but if no such arrangements are made by the Closing Date, the non-defaulting Underwriters shall be obligated severally, in proportion
to their respective commitments under this Agreement, to purchase the Securities that such defaulting Underwriters agreed but failed
to purchase. If any Underwriter or Underwriters so default and the principal amount of the Securities with respect to which such
default or defaults occur exceeds 10% of the total principal amount of the Securities to be purchased on such date and arrangements
satisfactory to the Representative and the Company for the purchase of such Securities by other persons are not made within 36
hours after such default, this Agreement will terminate without liability on the part of any non-defaulting Underwriter or the
Company, except as provided in Section 8. In all other cases, unless otherwise specified in this Agreement, if any Underwriter
or Underwriters default in their obligations to purchase Securities under the terms of this Agreement and arrangements satisfactory
to the Representative and the Company for the purchase of such Securities by other persons are not made within 36 hours after such
default, this Agreement will terminate without liability on the part of any non-defaulting Underwriter or the Company, except as
provided in Section 8. As used in this Agreement, the term &ldquo;Underwriter&rdquo; includes any person substituted for an Underwriter
under this Section. Nothing herein will relieve a defaulting Underwriter from liability for its default.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">8.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Survival of Certain Representations and Obligations.</U> The respective indemnities, agreements, representations, warranties
and other statements of the Company or its officers and of the several Underwriters set forth in or made pursuant to this Agreement
will remain in full force and effect, regardless of any investigation, or statement as to the results thereof, made by or on behalf
of any Underwriter, the Company or any of their respective representatives, officers or directors or any controlling person and
will survive delivery of and payment for the Securities. If for any reason the purchase of the Securities by the Underwriters under
this Agreement is not consummated, the Company shall remain responsible for the expenses (including amounts with respect to Section
4(h)), to be paid or reimbursed by it pursuant to Section 4 and the respective obligations of the Company and the Underwriters
pursuant to Section 6 shall remain in effect.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">9.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Certain Agreements of the Underwriters.</U> Each Underwriter hereby represents and agrees that:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>It has not and will not use, authorize use of, refer to, or participate in the planning for use of, any &ldquo;free writing
prospectus&rdquo;, as defined in Rule 405 under the Act (which term includes use of any written information furnished to the Commission
by the Company and not incorporated by reference into the Registration Statement and any press release issued by the Company) other
than (i)&nbsp;a free writing prospectus that is not an &ldquo;issuer free writing prospectus as defined in Rule 433 under the Act
that contains only preliminary terms of the Securities and offering or information permitted by Rule 134 under the Act, (ii)&nbsp;the
Final Term Sheet or any Issuer Free Writing Prospectus prepared pursuant to Section 1(b) or Section 4(c) above (including any electronic
road show) or (iii)&nbsp;any free writing prospectus prepared by such Underwriter and approved by the Company in advance in writing.
Notwithstanding the foregoing, the Underwriters may use a term sheet, substantially in the form of the Final Term Sheet attached
in Schedule III hereto, without the consent of the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>It is not subject to any pending proceeding under Section 8A of the Act with respect to the offering (and will promptly
notify the Company if any such proceeding against it is initiated during the Prospectus Delivery Period).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>It will, pursuant to reasonable procedures developed in good faith, retain copies of each free writing prospectus used or
referred to by it, in accordance with Rule 433 under the Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(d)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Notwithstanding the foregoing, it will not prepare, make, use, authorize, approve or refer to any Issuer Free Writing Prospectus
that does not satisfy the conditions of Rule 164(e)(2) under the Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">10.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Amendments or Waivers</U><I>.</I> No amendment or waiver of any provision of this Agreement, nor any consent or approval
to any departure therefrom, shall in any event be effective unless the same shall be in writing and signed by the parties to be
bound thereby.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">11.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Waiver of Jury Trial</U>. Each of the parties hereto hereby waives, to the fullest extent permitted by applicable law,
any right to trial by jury in any suit or proceeding arising out of or relating to this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">12.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Notices.</U> All communications hereunder will be in writing and, if sent to the Underwriters, will be mailed, delivered
or telecopied and confirmed to the Representative at: J.P. Morgan Securities LLC, 383 Madison Avenue, New York, NY 10179, Attn:
Legal Department, or, if sent to the Company, will be mailed, delivered or telecopied and confirmed to it at Howmet Aerospace Inc.,
201 Isabella Street, Pittsburgh, Pennsylvania 15212, Attn: Peter Hong, Vice President and Treasurer.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">13.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Successors.</U> This Agreement will inure to the benefit of and be binding upon the Company and the Underwriters and
their respective successors and the officers and directors and controlling persons referred to in Section 6, and no other person
will have any right or obligation hereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">14.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Applicable Law.</U> This Agreement shall be governed by, and construed in accordance with, the laws of the State of New
York.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">15.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Counterparts.</U> This Agreement may be signed in two or more counterparts, each of which shall be an original, with
the same effect as if the signatures thereto and hereto were upon the same instrument.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">16.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Headings.</U> The headings of the sections of this Agreement have been inserted for convenience of reference only and
shall not be deemed a part of this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">17.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Submission to Jurisdiction</U>. The parties hereto irrevocably submit to the exclusive jurisdiction of any New York State
or United States Federal court sitting in The City of New York over any suit, action or proceeding arising out of or relating to
this Agreement, the Prospectus or the offering of the Securities (each, a &ldquo;<B>Related Proceeding</B>&rdquo;). The parties
hereto irrevocably waive, to the fullest extent permitted by law, any objection which they may now or hereafter have to the laying
of venue of any Related Proceeding brought in such a court and any claim that any such Related Proceeding brought in such a court
has been brought in an inconvenient forum.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">18.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Recognition of the U.S. Special Resolution Regimes</U>. (a) In the event that any Underwriter that is a Covered Entity
becomes subject to a proceeding under a U.S. Special Resolution Regime, the transfer from such Underwriter of this Agreement, and
any interest and obligation in or under this Agreement, will be effective to the same extent as the transfer would be effective
under the U.S. Special Resolution Regime if this Agreement, and any such interest and obligation, were governed by the laws of
the United States or a state of the United States.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>In the event that any Underwriter that is a Covered Entity or a BHC Act Affiliate of such Underwriter becomes subject to
a proceeding under a U.S. Special Resolution Regime, Default Rights under this Agreement that may be exercised against such Underwriter
are permitted to be exercised to no greater extent than such Default Rights could be exercised under the U.S. Special Resolution
Regime if this Agreement were governed by the laws of the United States or a state of the United States.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>As used in this Section 18, &ldquo;<B>BHC Act Affiliate</B>&rdquo; has the meaning assigned to the term &ldquo;affiliate&rdquo;
in, and shall be interpreted in accordance with, 12 U.S.C. &sect; 1841(k); &ldquo;<B>Covered Entity</B>&rdquo; means any of the
following: (i) a &ldquo;covered entity&rdquo; as that term is defined in, and interpreted in accordance with, 12 C.F.R. &sect;
252.82(b), (ii) a &ldquo;covered bank&rdquo; as that term is defined in, and interpreted in accordance with, 12 C.F.R. &sect; 47.3(b)
or (iii) a &ldquo;covered FSI&rdquo; as that term is defined in, and interpreted in accordance with, 12 C.F.R. &sect; 382.2(b);
 &ldquo;<B>Default Right</B>&rdquo; has the meaning assigned to that term in, and shall be interpreted in accordance with, 12 C.F.R.
 &sect;&sect; 252.81, 47.2 or 382.1, as applicable; and &ldquo;<B>U.S. Special Resolution Regime</B>&rdquo; means each of (i) the
Federal Deposit Insurance Act and the regulations promulgated thereunder and (ii) Title II of the Dodd-Frank Wall Street Reform
and Consumer Protection Act and the regulations promulgated thereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">19.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Recognition of the E.U. Bail-in Powers</U>. Notwithstanding and to the exclusion of any other term of this Agreement
or any other agreements, arrangements, or understanding between the Company and the Underwriters, the Company acknowledges and
accepts that a BRRD Liability (as defined below) arising under this Agreement may be subject to the exercise of Bail-in Powers
(as defined below) by the Relevant Resolution Authority (as defined below), and acknowledges, accepts, and agrees to be bound by:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>the effect of the exercise of Bail-in Powers by the Relevant Resolution Authority in relation to any BRRD Liability of the
Underwriters to the Company under this Agreement, that (without limitation) may include and result in any of the following, or
some combination thereof:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">(A)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>the reduction of all, or a portion, of the BRRD Liability or outstanding amounts due thereon;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">(B)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>the conversion of all, or a portion, of the BRRD Liability into shares, other securities or other obligations of the Underwriters
or another person, and the issue to or conferral on the Issuer of such shares, securities or obligations;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">(C)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>the cancellation of the BRRD Liability; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">(D)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>the amendment or alteration of any interest, if applicable, thereon, the maturity or the dates on which any payments are
due, including by suspending payment for a temporary period;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>the variation of the terms of this Agreement, as deemed necessary by the Relevant Resolution Authority, to give effect to
the exercise of Bail-in Powers by the Relevant Resolution Authority.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>As used in this Section 19, &ldquo;<B>Bail-in Legislation</B>&rdquo; means in relation to a member state of the European
Economic Area which has implemented, or which at any time implements, the BRRD (as defined below), the relevant implementing law,
regulation or rule of the applicable governmental authority, as described in the EU Bail-in Legislation Schedule (as defined below)
as in effect on the date hereof and as may be updated from time to time consistent with the foregoing definition of Bail-in Legislation;
 &ldquo;<B>Bail-in Powers</B>&rdquo; means any Write-down and Conversion Powers (as defined in relation to the relevant Bail-in
Legislation); &ldquo;<B>BRRD</B>&rdquo; means Directive 2014/59/EU, as amended, establishing a framework for the recovery and resolution
of credit institutions and investment firms; &ldquo;<B>EU Bail-in Legislation Schedule</B>&rdquo; means the document described
as such, then in effect, and published by the Loan Market Association (or any successor person) from time to time; &ldquo;<B>BRRD
Liability</B>&rdquo; means any liability as defined under the applicable Bail-in Legislation; and &ldquo;<B>Relevant Resolution
Authority</B>&rdquo; means the resolution authority with the ability to exercise any Bail-in Powers in relation to any Underwriter
and its obligations under this Agreement</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">[<I>Signature Page
follows</I>]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 3in"></P>

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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 3in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3">Very truly yours,</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">HOWMET AEROSPACE INC.</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt">By:&nbsp;&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font-size: 10pt">/s/&nbsp;Peter&nbsp;Hong</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; width: 2%">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt; width: 2%">Name:&nbsp;&nbsp;</TD>
    <TD STYLE="font-size: 10pt; width: 46%">Peter Hong</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">Title:</TD>
    <TD STYLE="font-size: 10pt">Vice President and Treasurer</TD></TR>
</TABLE>
<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">[<I>Signature Page to Debt Underwriting
Agreement</I>]</P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt">Accepted as of the date first written above.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt">J.P. Morgan Securities LLC</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt">Acting on behalf of itself and<BR>
the several Underwriters named in Schedule I<BR>
hereto.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 50%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="white-space: nowrap">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">J.P. MORGAN SECURITIES LLC</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="white-space: nowrap">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="white-space: nowrap; font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="white-space: nowrap; font-size: 10pt">By:&nbsp;&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt">/s/ Clifford P Wagner III</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="white-space: nowrap; font-size: 10pt; width: 2%">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt; width: 2%">Name:&nbsp;&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt; width: 96%">Clifford P Wagner III</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="white-space: nowrap; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt">Title:</TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt">Vice President</TD></TR>
</TABLE>
<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">[<I>Signature Page
to Debt Underwriting Agreement</I>]</P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"></P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><U>Schedule I</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding: 2pt; border-top: Black 1pt solid; border-left: Black 1pt solid; width: 50%; text-align: center"><FONT STYLE="font-size: 10pt">Underwriters</FONT></TD>
    <TD STYLE="padding: 2pt; border-right: Black 1pt solid; border-left: Black 1pt solid; border-top: Black 1pt solid; width: 50%; text-align: center"><FONT STYLE="font-size: 10pt">Principal Amount of <BR>
2025 Notes to be Purchased</FONT></TD></TR>
<TR>
    <TD STYLE="padding: 2pt; border-top: Black 1pt solid; border-left: Black 1pt solid; vertical-align: bottom"><FONT STYLE="font-size: 10pt">J.P. Morgan Securities LLC</FONT></TD>
    <TD STYLE="padding: 2pt; border-right: Black 1pt solid; border-left: Black 1pt solid; border-top: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">$480,000,000 </FONT></TD></TR>
<TR>
    <TD STYLE="padding: 2pt; border-top: Black 1pt solid; border-left: Black 1pt solid; vertical-align: top"><FONT STYLE="font-size: 10pt">Citigroup Global Markets Inc.</FONT></TD>
    <TD STYLE="padding: 2pt; border-right: Black 1pt solid; border-left: Black 1pt solid; border-top: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">$240,000,000 </FONT></TD></TR>
<TR>
    <TD STYLE="padding: 2pt; border-top: Black 1pt solid; border-left: Black 1pt solid; vertical-align: top"><FONT STYLE="font-size: 10pt">Goldman Sachs &amp; Co. LLC</FONT></TD>
    <TD STYLE="padding: 2pt; border-right: Black 1pt solid; border-left: Black 1pt solid; border-top: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">$240,000,000 </FONT></TD></TR>
<TR>
    <TD STYLE="padding: 2pt; border-top: Black 1pt solid; border-left: Black 1pt solid; vertical-align: top"><FONT STYLE="font-size: 10pt">ABN AMRO Securities (USA) LLC</FONT></TD>
    <TD STYLE="padding: 2pt; border-right: Black 1pt solid; border-left: Black 1pt solid; border-top: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">$12,960,000 </FONT></TD></TR>
<TR>
    <TD STYLE="padding: 2pt; border-top: Black 1pt solid; border-left: Black 1pt solid; vertical-align: top"><FONT STYLE="font-size: 10pt">Banca IMI S.p.A</FONT></TD>
    <TD STYLE="padding: 2pt; border-right: Black 1pt solid; border-left: Black 1pt solid; border-top: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">$12,960,000 </FONT></TD></TR>
<TR>
    <TD STYLE="padding: 2pt; border-top: Black 1pt solid; border-left: Black 1pt solid; vertical-align: top"><FONT STYLE="font-size: 10pt">BMO Capital Markets Corp.</FONT></TD>
    <TD STYLE="padding: 2pt; border-right: Black 1pt solid; border-left: Black 1pt solid; border-top: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">$12,960,000 </FONT></TD></TR>
<TR>
    <TD STYLE="padding: 2pt; border-top: Black 1pt solid; border-left: Black 1pt solid; vertical-align: top"><FONT STYLE="font-size: 10pt">BNP Paribas Securities Corp.</FONT></TD>
    <TD STYLE="padding: 2pt; border-right: Black 1pt solid; border-left: Black 1pt solid; border-top: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">$12,960,000 </FONT></TD></TR>
<TR>
    <TD STYLE="padding: 2pt; border-top: Black 1pt solid; border-left: Black 1pt solid; vertical-align: top"><FONT STYLE="font-size: 10pt">Fifth Third Securities, Inc.</FONT></TD>
    <TD STYLE="padding: 2pt; border-right: Black 1pt solid; border-left: Black 1pt solid; border-top: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">$12,960,000 </FONT></TD></TR>
<TR>
    <TD STYLE="padding: 2pt; border-top: Black 1pt solid; border-left: Black 1pt solid; vertical-align: top"><FONT STYLE="font-size: 10pt">Mizuho Securities USA LLC</FONT></TD>
    <TD STYLE="padding: 2pt; border-right: Black 1pt solid; border-left: Black 1pt solid; border-top: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">$12,960,000 </FONT></TD></TR>
<TR>
    <TD STYLE="padding: 2pt; border-top: Black 1pt solid; border-left: Black 1pt solid; vertical-align: top"><FONT STYLE="font-size: 10pt">Morgan Stanley &amp; Co. LLC</FONT></TD>
    <TD STYLE="padding: 2pt; border-right: Black 1pt solid; border-left: Black 1pt solid; border-top: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">$12,960,000 </FONT></TD></TR>
<TR>
    <TD STYLE="padding: 2pt; border-top: Black 1pt solid; border-left: Black 1pt solid; vertical-align: top"><FONT STYLE="font-size: 10pt">MUFG Securities Americas Inc.</FONT></TD>
    <TD STYLE="padding: 2pt; border-right: Black 1pt solid; border-left: Black 1pt solid; border-top: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">$12,960,000 </FONT></TD></TR>
<TR>
    <TD STYLE="padding: 2pt; border-top: Black 1pt solid; border-left: Black 1pt solid; vertical-align: top"><FONT STYLE="font-size: 10pt">PNC Capital Markets LLC</FONT></TD>
    <TD STYLE="padding: 2pt; border-right: Black 1pt solid; border-left: Black 1pt solid; border-top: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">$12,960,000 </FONT></TD></TR>
<TR>
    <TD STYLE="padding: 2pt; border-top: Black 1pt solid; border-left: Black 1pt solid; vertical-align: top"><FONT STYLE="font-size: 10pt">SMBC Nikko Securities America, Inc.</FONT></TD>
    <TD STYLE="padding: 2pt; border-right: Black 1pt solid; border-left: Black 1pt solid; border-top: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">$12,960,000 </FONT></TD></TR>
<TR>
    <TD STYLE="padding: 2pt; border-top: Black 1pt solid; border-left: Black 1pt solid; vertical-align: top"><FONT STYLE="font-size: 10pt">SunTrust Robinson Humphrey, Inc.</FONT></TD>
    <TD STYLE="padding: 2pt; border-right: Black 1pt solid; border-left: Black 1pt solid; border-top: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">$12,960,000 </FONT></TD></TR>
<TR>
    <TD STYLE="padding: 2pt; border-top: Black 1pt solid; border-left: Black 1pt solid; vertical-align: top"><FONT STYLE="font-size: 10pt">TD Securities (USA) LLC</FONT></TD>
    <TD STYLE="padding: 2pt; border-right: Black 1pt solid; border-left: Black 1pt solid; border-top: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">$12,960,000 </FONT></TD></TR>
<TR>
    <TD STYLE="padding: 2pt; border-top: Black 1pt solid; border-left: Black 1pt solid; vertical-align: top"><FONT STYLE="font-size: 10pt">U.S. Bancorp Investments, Inc.</FONT></TD>
    <TD STYLE="padding: 2pt; border-right: Black 1pt solid; border-left: Black 1pt solid; border-top: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">$12,960,000 </FONT></TD></TR>
<TR>
    <TD STYLE="padding: 2pt; border-top: Black 1pt solid; border-left: Black 1pt solid; vertical-align: top"><FONT STYLE="font-size: 10pt">Citizens Capital Markets, Inc.</FONT></TD>
    <TD STYLE="padding: 2pt; border-right: Black 1pt solid; border-left: Black 1pt solid; border-top: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">$9,000,000 </FONT></TD></TR>
<TR>
    <TD STYLE="padding: 2pt; border-top: Black 1pt solid; border-left: Black 1pt solid; vertical-align: top"><FONT STYLE="font-size: 10pt">Huntington Securities, Inc.</FONT></TD>
    <TD STYLE="padding: 2pt; border-right: Black 1pt solid; border-left: Black 1pt solid; border-top: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">$9,000,000 </FONT></TD></TR>
<TR>
    <TD STYLE="padding: 2pt; border-top: Black 1pt solid; border-left: Black 1pt solid; vertical-align: top"><FONT STYLE="font-size: 10pt">ING Financial Markets LLC</FONT></TD>
    <TD STYLE="padding: 2pt; border-right: Black 1pt solid; border-left: Black 1pt solid; border-top: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">$9,000,000 </FONT></TD></TR>
<TR>
    <TD STYLE="padding: 2pt; border-top: Black 1pt solid; border-left: Black 1pt solid; vertical-align: top"><FONT STYLE="font-size: 10pt">Scotia Capital (USA) Inc.</FONT></TD>
    <TD STYLE="padding: 2pt; border-right: Black 1pt solid; border-left: Black 1pt solid; border-top: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">$9,000,000 </FONT></TD></TR>
<TR>
    <TD STYLE="padding: 2pt; border-top: Black 1pt solid; border-left: Black 1pt solid; vertical-align: top"><FONT STYLE="font-size: 10pt">Nomura Securities International, Inc.</FONT></TD>
    <TD STYLE="padding: 2pt; border-right: Black 1pt solid; border-left: Black 1pt solid; border-top: Black 1pt solid; vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">$9,720,000 </FONT></TD></TR>
<TR>
    <TD STYLE="padding: 2pt; border-top: Black 1pt solid; border-left: Black 1pt solid; vertical-align: top"><FONT STYLE="font-size: 10pt">Academy Securities, Inc.</FONT></TD>
    <TD STYLE="padding: 2pt; border-right: Black 1pt solid; border-left: Black 1pt solid; border-top: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">$5,160,000 </FONT></TD></TR>
<TR>
    <TD STYLE="padding: 2pt; border-top: Black 1pt solid; border-left: Black 1pt solid; vertical-align: top"><FONT STYLE="font-size: 10pt">Banco Bradesco BBI S.A.</FONT></TD>
    <TD STYLE="padding: 2pt; border-right: Black 1pt solid; border-left: Black 1pt solid; border-top: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">$5,160,000 </FONT></TD></TR>
<TR>
    <TD STYLE="padding: 2pt; border-top: Black 1pt solid; border-left: Black 1pt solid; vertical-align: top"><FONT STYLE="font-size: 10pt">BNY Mellon Capital Markets, LLC</FONT></TD>
    <TD STYLE="padding: 2pt; border-right: Black 1pt solid; border-left: Black 1pt solid; border-top: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">$5,160,000 </FONT></TD></TR>
<TR>
    <TD STYLE="padding: 2pt; border-top: Black 1pt solid; border-left: Black 1pt solid; vertical-align: top"><FONT STYLE="font-size: 10pt">Standard Chartered Bank</FONT></TD>
    <TD STYLE="padding: 2pt; border-right: Black 1pt solid; border-left: Black 1pt solid; border-top: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">$5,160,000 </FONT></TD></TR>
<TR>
    <TD STYLE="padding: 2pt; border-top: Black 1pt solid; border-left: Black 1pt solid; vertical-align: top"><FONT STYLE="font-size: 10pt">Westpac Capital Markets LLC</FONT></TD>
    <TD STYLE="padding: 2pt; border-right: Black 1pt solid; border-left: Black 1pt solid; border-top: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">$5,160,000 </FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: right; padding: 2pt; border-bottom: Black 1pt solid; border-left: Black 1pt solid; border-top: Black 1pt solid"><FONT STYLE="font-size: 10pt">&#9;<U>Total</U></FONT></TD>
    <TD STYLE="padding: 2pt; border: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">$1,200,000,000</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><U>Schedule II</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">Issuer Free Writing Prospectuses</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left">A.</TD><TD STYLE="text-align: justify">Free writing prospectus filed with the Commission on
April 22, 2020, substantially in the form of Schedule III.</TD>
</TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left">B.</TD><TD STYLE="text-align: justify">Other Free Writing Prospectuses</TD>
</TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-left: 1in; text-align: left; margin-top: 0pt; margin-bottom: 0pt">1.
None.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-left: 1in; text-align: left; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-left: 1in; text-align: left; margin-top: 0pt; margin-bottom: 0pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-left: 1in; text-align: left; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><U>Schedule III</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><U>Filed Pursuant to Rule 433<BR>
Registration Statement No. 333-237705</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>Pricing Term Sheet</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>Howmet Aerospace Inc.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>$1,200,000,000 6.875% Notes due 2025</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">Dated: April 22, 2020</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">This term sheet to the preliminary prospectus supplement dated
April 22, 2020 should be read together with the preliminary prospectus supplement before making a decision in connection with an
investment in the securities. The information in this term sheet supersedes the information contained in the preliminary prospectus
supplement to the extent that it is inconsistent therewith. Terms used but not defined herein have the meaning ascribed to them
in the preliminary prospectus supplement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Change in Offering Size and Use of Proceeds </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">We are amending our previously announced tender offer in respect
of our outstanding 5.400% Notes due 2021 (the &ldquo;2021 Notes&rdquo;) in order to increase the maximum aggregate purchase price
in that offer from $500 million to $785 million. Additionally, we are launching a tender offer in respect of our outstanding 5.870%
Notes due 2022 (the &ldquo;2022 Notes&rdquo;) with an aggregate purchase price of up to $210 million. As a result, the proposed
use of proceeds for this offer has been updated to provide that the net proceeds will be used to fund the purchase price of 2021
Notes with an aggregate purchase price of up to $785 million and 2022 Notes with an aggregate purchase price of up to $210 million
and the remaining net proceeds will be used for general corporate purposes, which may include the repayment and/or repurchase of
certain of our outstanding indebtedness as may be determined by our management. Corresponding changes will be made where applicable
throughout the preliminary prospectus supplement. Our tender offer in respect of the 2021 Notes includes a solicitation of consents
to amend the related indenture, while our tender offer in respect of the 2022 Notes does not include any consent solicitation.
The offering is not conditioned upon the consummation of the tender offers. The tender offers are being made pursuant to the relevant
Offer to Purchase.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%"><B>Issuer:</B></TD>
    <TD STYLE="width: 50%">Howmet Aerospace Inc.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><B>Title of Securities:</B></TD>
    <TD>6.875% Notes due 2025 </TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><B>Pricing Date/Closing Date:</B></TD>
    <TD>April 22, 2020 / April 24, 2020 (T+2)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><B>Aggregate Principal Amount Offered: </B></TD>
    <TD>$1,200,000,000</TD></TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

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<P STYLE="margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%"><B>Maturity Date:</B></TD>
    <TD STYLE="width: 50%">May 1, 2025</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><B>Coupon (Interest Rate):</B></TD>
    <TD>6.875%</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><B>Price to Public (Issue Price):</B></TD>
    <TD>100% of principal, plus accrued interest, if any, from April 24, 2020</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><B>Benchmark Treasury:</B></TD>
    <TD>0.5% UST due March 31, 2025</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><B>Spread to Benchmark Treasury:</B></TD>
    <TD>+651 bps</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><B>Yield to Maturity:</B></TD>
    <TD>6.875%</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><B>Interest Payment Dates:</B></TD>
    <TD>Semi-annually in arrears on May 1 and November 1 of each year, commencing November 1, 2020</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><B>Interest Record Dates: </B></TD>
    <TD>April 15 and October 15</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><B>Debt Ratings*:</B></TD>
    <TD>[RESERVED]</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><B>Optional Redemption:</B></TD>
    <TD>Make-whole at T + 50 bps at any time before April 1, 2025; par call at any time on or after April 1, 2025</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><B>Change of Control Offer:</B></TD>
    <TD>If a change of control triggering event occurs with respect to the Notes, the issuer will be required, subject to certain conditions, to offer to repurchase such Notes at a purchase price equal to 101% of their principal amount, plus accrued and unpaid interest to the date of repurchase.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><B>Joint Bookrunners:</B></TD>
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">J.P. Morgan Securities LLC</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Citigroup Global Markets Inc.</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Goldman Sachs &amp; Co. LLC</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><B>Senior Managers:</B></TD>
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">ABN AMRO Securities (USA) LLC</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Banca IMI S.p.A</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">BMO Capital Markets Corp.</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">BNP Paribas Securities Corp.</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Fifth Third Securities, Inc.</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Mizuho Securities USA LLC</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Morgan Stanley &amp; Co. LLC</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">MUFG Securities Americas Inc.</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">PNC Capital Markets LLC</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">SMBC Nikko Securities America, Inc.</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">SunTrust Robinson Humphrey, Inc.</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">TD Securities (USA) LLC</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">U.S. Bancorp Investments, Inc.</P></TD></TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

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<P STYLE="margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%"><B>Managers:</B></TD>
    <TD STYLE="width: 50%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Citizens Capital Markets, Inc.</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Huntington Securities, Inc.</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">ING Financial Markets LLC</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Scotia Capital (USA) Inc.</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><B>Co-Managers:</B></TD>
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Academy Securities, Inc.</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Banco Bradesco BBI S.A.</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">BNY Mellon Capital Markets, LLC</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Nomura Securities International, Inc.</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Standard Chartered Bank</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Westpac Capital Markets LLC&nbsp;</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><B>CUSIP/ISIN:</B></TD>
    <TD>443201 AA6 / US443201AA64</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>We have filed a registration statement (including a preliminary
prospectus supplement) with the SEC for the offering to which this communication relates. Before you invest, you should read the
preliminary prospectus supplement included in that registration statement and other documents we have filed with the SEC for more
complete information about us and this offering. You may get these documents for free by visiting EDGAR on the SEC website at www.sec.gov.
Alternatively, we or the underwriters will arrange to send you the prospectus if you request it from J.P. Morgan Securities LLC
by calling collect at (212)-834-4533.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>*Note: A securities rating is not a recommendation to buy,
sell or hold securities and may be subject to revision or withdrawal at any time.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-4.6
<SEQUENCE>3
<FILENAME>tm2016823d1_ex4-6.htm
<DESCRIPTION>EXHIBIT 4.6
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="text-align: right; margin: 0"><B>Exhibit 4.6</B></P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Unless this certificate is presented by an authorized representative
of The Depository Trust Company, a New York Corporation (&ldquo;DTC&rdquo;), to the Company or its agent for registration of transfer,
exchange, or payment, and any certificate issued is registered in the name of Cede&nbsp;&amp; Co. or in such other name as is requested
by an authorized representative of DTC (and any payment is made to Cede&nbsp;&amp; Co. or to such other entity as is requested
by an authorized representative of DTC), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS
WRONGFUL inasmuch as the registered owner hereof, Cede&nbsp;&amp; Co., has an interest herein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">This Security is a Book-Entry Security within the meaning of
the Indenture hereinafter referred to and is registered in the name of a Depositary or a nominee thereof. This Security may not
be transferred to, or registered or exchanged for Securities registered in the name of, any Person other than the Depositary or
a nominee thereof and no such transfer may be registered, except in the limited circumstances described in the Indenture. Every
Security authenticated and delivered upon registration of transfer of, or in exchange for or in lieu of, this Security shall be
a Book-Entry Security subject to the foregoing, except in such limited circumstances described in the Indenture.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">HOWMET AEROSPACE INC.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">6.875% Notes due 2025</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="width: 33%">No. R-____</TD>
    <TD STYLE="width: 34%">&nbsp;</TD>
    <TD STYLE="text-align: right; width: 33%">(U.S.) $__________</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right; text-indent: 4.5in">CUSIP# 443201 AA6</P>

<P STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">ISIN# US443201AA64</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&#9;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Howmet Aerospace Inc., a corporation duly
organized and existing under the laws of Delaware (herein called the &ldquo;Company&rdquo;, which term includes any successor Person
under the Indenture referred to on the reverse hereof), for value received, hereby promises to pay to Cede&nbsp;&amp; Co., or registered
assigns, the principal sum of __________ (United States) Dollars on May 1, 2025, and to pay interest thereon from April 24, 2020,
or from the most recent May 1 or November 1 (each, an &ldquo;Interest Payment Date&rdquo;) to which interest has been paid or duly
provided for, semi-annually in arrears on May 1 and November 1 in each year, commencing November 1, 2020, at the rate of 6.875%&nbsp;per
annum, until the principal hereof is paid or made available for payment. The interest so payable, and punctually paid or duly provided
for, on any Interest Payment Date will, as provided in such Indenture, be paid to the Person in whose name this Security (or one
or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest, which shall
be the April 15 or October 15 (whether or not a Business Day), as the case may be, next preceding such Interest Payment Date. Interest
will be paid on the basis of a 360-day year consisting of twelve 30-day months. Except as otherwise provided in the Indenture,
any such interest not so punctually paid or duly provided for will forthwith cease to be payable to the Holder on such Regular
Record Date and may either be paid to the Person in whose name this Security (or one or more Predecessor Securities) is registered
at the close of business on a Special Record Date for the payment of such Defaulted Interest to be fixed by the Trustee, notice
whereof shall be given to Holders of Securities of this series not less than 10 days prior to such Special Record Date, or be paid
at any time in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Securities
of this series may be listed, and upon such notice as may be required by such exchange, all as more fully provided in said Indenture.
Payment of the principal of and any premium and interest on this Security will be made (a)&nbsp;at the Corporate Trust Office of
the Trustee or such other office or agency of the Company as may be designated by it for such purpose in the Borough of Manhattan,
The City of New York, in such coin or currency of the United States of America as at the time of payment shall be legal tender
for the payment of public and private debts or (b)&nbsp;subject to any laws or regulations applicable thereto and to the right
of the Company (limited as provided in the Indenture) to rescind the designation of any such Paying Agent, at the main offices
of the Company in Pittsburgh, Pennsylvania, or at such other offices or agencies as the Company may designate, by United States
dollar check drawn on, or transfer to a United States dollar account maintained by the payee with, a bank in The City of New York;
provided, however, that at the option of the Company payment of interest may be made by United States dollar check mailed to the
address of the Person entitled thereto as such address shall appear in the Security Register.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Reference is hereby made to the further
provisions of this Security set forth on the reverse hereof, which further provisions shall for all purposes have the same effect
as if set forth at this place.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Unless the certificate of authentication
hereon has been executed by the Trustee referred to on the reverse hereof, directly or through an Authenticating Agent, by manual,
facsimile or electronic signature of an authorized signatory, this Security shall not be entitled to any benefit under the Indenture
or be valid or obligatory for any purpose.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">IN WITNESS WHEREOF, the Company has caused
this instrument to be duly executed under its corporate seal.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Dated: <U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><B>HOWMET AEROSPACE INC.</B></TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="width: 10%">&nbsp;</TD>
    <TD STYLE="width: 35%">&nbsp;</TD>
    <TD STYLE="width: 10%">&nbsp;</TD>
    <TD STYLE="width: 10%">&nbsp;</TD>
    <TD STYLE="width: 35%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>Attest:</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>By:</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center"></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center; border-bottom: Black 1pt solid"></TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">Assistant Secretary</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">Vice President and Treasurer</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>CERTIFICATE OF AUTHENTICATION<BR>
</B>This is one of the Securities of<BR>
the series designated therein<BR>
referred to in the within-<BR>
mentioned Indenture.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>THE BANK OF NEW YORK MELLON<BR>
TRUST COMPANY, N. A.</B>, as Trustee</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="width: 10%">&nbsp;</TD>
    <TD STYLE="width: 35%">&nbsp;</TD>
    <TD STYLE="width: 10%">&nbsp;</TD>
    <TD STYLE="width: 10%">&nbsp;</TD>
    <TD STYLE="width: 35%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>By:</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center"></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">Authorized Signatory</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>Dated:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 3.75in 0pt 0; text-align: center"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 3.75in 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0.5in">(Reverse of Global Note)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">This Security is one of a duly authorized
issue of securities of the Company (herein called the &ldquo;Securities&rdquo;), issued and to be issued in one or more series
under an Indenture, dated as of September&nbsp;30, 1993 (herein, as supplemented by the First Supplemental Indenture dated as of
January&nbsp;25, 2007 between the Company and the Trustee (as defined below), the Second Supplemental Indenture dated as of July&nbsp;15,
2008 between the Company and the Trustee, the Fourth Supplemental Indenture dated as of December 31, 2017 between the Company and
the Trustee and the Fifth Supplemental Indenture dated as of April 16, 2020, called the &ldquo;Indenture&rdquo;), between the Company
and The Bank of New York Mellon Trust Company, N.A., as successor in interest to J. P. Morgan Trust Company, National Association
(formerly Chase Manhattan Trust Company, National Association, as successor to PNC Bank, National Association), as Trustee (herein
called the &ldquo;Trustee&rdquo;, which term includes any successor trustee under the Indenture), to which Indenture and all indentures
supplemental thereto reference is hereby made for a statement of the respective rights, limitations of rights, duties and immunities
thereunder of the Company, the Trustee and the Holders of the Securities (herein called the &ldquo;Holders&rdquo;) and of the terms
upon which the Securities are, and are to be, authenticated and delivered. This Security is one of the series designated on the
face hereof, initially issued in the aggregate principal amount of (U.S.) $1,200,000,000.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Securities of this series are subject
to redemption, as a whole or in part, at the Company&rsquo;s option, at any time or from time to time, on at least 15 days, but
not more than 60 days, prior notice to the Holders as described below. Any notice of redemption of the Securities of this series
to be redeemed at the option of the Company may state that such redemption shall be conditional, in the Company&rsquo;s discretion,
on one or more conditions precedent, and that such conditional notice of redemption may be rescinded by the Company if it determines
that any or all such conditions will not be satisfied by the redemption date, and that in such event, such redemption notice shall
be of no further force or effect and the Company shall not be required to redeem the Securities on the redemption date or otherwise.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Prior to April 1, 2025, the date that is
one month prior to the maturity date of the Securities of this series (herein called the &ldquo;Par Call Date&rdquo;), the Securities
of this series will be redeemable at a redemption price equal to the greater of:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>100% of the principal amount of the Security to be redeemed, plus accrued interest, if any, to the redemption date&#894; and</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 58.5pt; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>the sum of the present values of the Remaining Scheduled Payments, as defined below, discounted, on a semiannual basis, assuming
a 360-day year consisting of twelve 30-day months, at the Treasury Rate, as defined below, plus 50 basis points, plus accrued interest
to the date of redemption which has not been paid.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">At any time on or after the Par Call Date,
the Securities of this series will be redeemable, in whole or in part, at any time and from time to time, at the Company&rsquo;s
option at a redemption price equal to 100% of the principal amount to be redeemed plus accrued interest to the date of redemption
which has not been paid.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">For purposes of the foregoing discussion of an optional redemption,
the following definitions are applicable:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;Treasury Rate&rdquo; means, with
respect to any redemption date for the Securities:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">the yield, under the heading which represents the average for the
immediately preceding week, appearing in the most recently published statistical release designated &ldquo;H(519)&rdquo; or any
successor publication which is published weekly by the Board of Governors of the Federal Reserve System and which establishes yields
on actively traded United States Treasury securities adjusted to constant maturity under the caption &ldquo;Treasury Constant Maturities,&rdquo;
for the maturity corresponding to the Comparable Treasury Issue&#894; provided that if no maturity is within three months before
or after the maturity date for this Security (assuming for these purposes that this Security matured on the Par Call Date), yields
for the two published maturities most closely corresponding to the Comparable Treasury Issue will be determined and the Treasury
Rate will be interpolated or extrapolated from those yields on a straight line basis rounding to the nearest month&#894; or</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-indent: -0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-indent: -0.25in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>if that release, or any successor release, is not published during the week preceding the calculation date or does not contain
such yields, the rate per annum equal to the semiannual equivalent yield to maturity of the Comparable Treasury Issue, calculated
using a price for the Comparable Treasury Issue (expressed as a percentage of its principal amount) equal to the Comparable Treasury
Price for that redemption date.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Treasury Rate will be calculated on
the third Business Day preceding the redemption date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;Comparable Treasury Issue&rdquo;
means the United States Treasury security selected by an Independent Investment Banker as having a maturity comparable to the remaining
term of this Security to be redeemed that would be utilized, at the time of selection and in accordance with customary financial
practice, in pricing new issues of corporate debt securities of comparable maturity to the remaining term of this Security (assuming
for these purposes that this Security matured on the Par Call Date).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;Comparable Treasury Price&rdquo;
means, with respect to any redemption date for this Security:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">the average of four Reference Treasury Dealer Quotations for that
redemption date, after excluding the highest and lowest of such Reference Treasury Dealer Quotations&#894; or</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">if the Trustee obtains fewer than four Reference Treasury Dealer Quotations,
the average of all quotations obtained by the Trustee.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;Independent Investment Banker&rdquo;
means one of the Reference Treasury Dealers, to be appointed by the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;Reference Treasury Dealer&rdquo;
means J.P. Morgan Securities LLC and its successors and three other nationally recognized investment banking firms that are primary
U.S. Government securities dealers as selected by the Company&#894; provided, however, that if any of the foregoing shall cease
to be a primary U.S. Government securities dealer, which is referred to as a &ldquo;Primary Treasury Dealer,&rdquo; the Company
will substitute therefor another nationally recognized investment banking firm that is a Primary Treasury Dealer.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;Reference Treasury Dealer Quotations&rdquo;
means, with respect to each Reference Treasury Dealer and any redemption date, the average, as determined by the Independent Investment
Banker, of the bid and asked prices for the Comparable Treasury Issue, expressed in each case as a percentage of its principal
amount, quoted in writing to the Independent Investment Banker by such Reference Treasury Dealer at 3:30 p.m., New York City time
on the third Business Day preceding such redemption date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;Remaining Scheduled Payments&rdquo;
means, with respect to each Security to be redeemed, the remaining scheduled payments of the principal thereof and interest thereon
that would be due after the related redemption date but for such redemption (assuming for these purposes that this Security matured
on the Par Call Date)&#894; provided, however, that, if such redemption date is not an interest payment date with respect to such
Security, the amount of the next succeeding scheduled interest payment thereon will be deemed to be reduced by the amount of interest
accrued thereon to such redemption date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">In the event of redemption of this Security
in part only, a new Security or Securities of this series and of like tenor for the unredeemed portion hereof will be issued in
the name of the Holder hereof upon the cancellation hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Notice of optional redemption will be given
to Holders of Securities of this series, not less than 15 nor more than 60 days prior to the date fixed for redemption, all as
provided in the Indenture.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">On and after the redemption date, interest
will cease to accrue on the Securities of this series or any portion thereof called for redemption, unless the Company defaults
in the payment of the redemption price and accrued interest. On or before the redemption date, the Company will deposit with a
paying agent (herein called the &ldquo;Paying Agent&rdquo;), or the Trustee, money sufficient to pay the redemption price of and
accrued interest on the Securities of this series to be redeemed on such date. If less than all of the Securities of this series
are to be redeemed, the Securities of this series to be redeemed shall be selected by the Trustee by such method as the Trustee
shall deem fair and appropriate.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">If a Change of Control Repurchase Event
occurs, unless the Company has exercised its right to redeem this Security as described above, the Company will be required to
make an offer to each Holder of the <FONT STYLE="font-family: Times New Roman, Times, Serif">Securities of this series </FONT>to
repurchase all or any part (in denominations of $2,000 and integral multiples of $1,000 in excess thereof) of that Holder&rsquo;s
<FONT STYLE="font-family: Times New Roman, Times, Serif">Securities of this series </FONT>at a repurchase price in cash equal to
101% of the aggregate principal amount of the Securities of this series repurchased plus any accrued and unpaid interest on the
<FONT STYLE="font-family: Times New Roman, Times, Serif">Securities of this series </FONT>repurchased to, but not including, the
date of repurchase. Within 30 days following any Change of Control Repurchase Event or, at the Company&rsquo;s option, prior to
any Change of Control, but after the public announcement of the Change of Control, the Company will mail or otherwise distribute
a notice to each Holder, with a copy to the Trustee, describing the transaction or transactions that constitute or may constitute
the Change of Control Repurchase Event and offering to repurchase <FONT STYLE="font-family: Times New Roman, Times, Serif">Securities
of this series </FONT>on the payment date specified in the notice, which date will be no earlier than 30 days and no later than
60 days from the date such notice is mailed, other than as may be required by law. The notice shall, if mailed prior to the date
of consummation of the Change of Control, state that the offer to purchase is conditioned on a Change of Control Repurchase Event
occurring on or prior to the payment date specified in the notice. Holders of the <FONT STYLE="font-family: Times New Roman, Times, Serif">Securities
of this series </FONT>electing to have the <FONT STYLE="font-family: Times New Roman, Times, Serif">Securities of this series </FONT>purchased
pursuant to a Change of Control Repurchase Event offer will be required to surrender their <FONT STYLE="font-family: Times New Roman, Times, Serif">Securities
of this series</FONT>, with the form entitled &ldquo;Option of Holder to Elect Purchase&rdquo; on the reverse of the Security completed,
to the Paying Agent at the address specified in the notice, or transfer their <FONT STYLE="font-family: Times New Roman, Times, Serif">Securities
of this series </FONT>to the Paying Agent by book-entry transfer pursuant to the applicable procedures of the Paying Agent, prior
to the close of business on the third Business Day prior to the repurchase payment date. The Company will comply with the requirements
of Rule 14e-1 under the Exchange Act, and any other securities laws and regulations thereunder to the extent those laws and regulations
are applicable in connection with the repurchase of the Securities of this series as a result of a Change of Control Repurchase
Event. To the extent that the provisions of any securities laws or regulations conflict with the Change of Control Repurchase Event
provisions of the Securities of this series, the Company will comply with the applicable securities laws and regulations and will
not be deemed to have breached the Company&rsquo;s obligations under the Change of Control Repurchase Event provisions of the Securities
of this series by virtue of such conflict.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">On the repurchase date following a Change
of Control Repurchase Event, the Company will, to the extent lawful:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(1)</TD><TD>accept for payment all Securities of this series or portions of Securities of this series properly tendered pursuant to the
Company&rsquo;s offer;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(2)</TD><TD>deposit with the Paying Agent an amount equal to the aggregate purchase price in respect of all Securities of this series or
portions of Securities of this series properly tendered; and</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(3)</TD><TD>deliver or cause to be delivered to the Trustee the Securities of this series properly accepted, together with an Officers&rsquo;
Certificate stating the aggregate principal amount of the Securities of this series being purchased by the Company.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Paying Agent will promptly mail to each
Holder of Securities of this series properly tendered the purchase price for the Securities of this series, and the Trustee will
promptly authenticate and mail (or cause to be transferred by book-entry) to each Holder a new Security of this series equal in
principal amount to any unpurchased portion of any Securities of this series surrendered; provided that each new Security of this
series will be in a minimum principal amount of $2,000 and integral multiples of $1,000 in excess thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Company will not be required to make
an offer to repurchase the Securities of this series upon a Change of Control Repurchase Event if a third party makes such an offer
in the manner, at the times and otherwise in compliance with the requirements for an offer made by the Company and such third party
purchases all Securities of this series properly tendered and not withdrawn under its offer.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">For purposes of the foregoing discussion
of a repurchase at the option of Holders, the following definitions are applicable:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;Change of Control&rdquo; means the
occurrence of any of the following:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(1)</TD><TD>the direct or indirect sale, lease, transfer, conveyance or other disposition (other than by way of merger or consolidation),
in one or a series of related transactions, of all or substantially all of the assets of the Company and its subsidiaries taken
as a whole to any &ldquo;person&rdquo; (as that term is used in Section&nbsp;13(d)(3) of the Exchange Act) other than to the Company
or one of its subsidiaries;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(2)</TD><TD>the consummation of any transaction (including, without limitation, any merger or consolidation) the result of which is that
any &ldquo;person&rdquo; (as that term is used in Section&nbsp;13(d)(3) of the Exchange Act) becomes the beneficial owner (as defined
in Rules 13d-3 and 13d-5 under the Exchange Act), directly or indirectly, of more than 50% of the combined voting power of the
Company&rsquo;s Voting Stock or other Voting Stock into which the Company&rsquo;s Voting Stock is reclassified, consolidated, exchanged
or changed measured by voting power rather than number of shares;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(3)</TD><TD>the Company consolidates with, or merges with or into, any &ldquo;person&rdquo; (as that term is used in Section&nbsp;13(d)(3)
of the Exchange Act), or any person consolidates with, or merges with or into, the Company, in any such event pursuant to a transaction
in which any of the outstanding Voting Stock of the Company or such other person is converted into or exchanged for cash, securities
or other property, other than any such transaction where the shares of the Voting Stock of the Company outstanding immediately
prior to such transaction constitute, or are converted into or exchanged for, a majority of the Voting Stock of the surviving person
immediately after giving effect to such transaction; or</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in; text-align: left">(4)</TD><TD STYLE="text-align: justify">the adoption of a plan relating to the liquidation or
dissolution of the Company.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Notwithstanding the foregoing, a transaction
will not be deemed to involve a Change of Control if (1)&nbsp;the Company becomes a direct or indirect wholly-owned subsidiary
of a holding company and (2)(A)&nbsp;the direct or indirect holders of the Voting Stock of such holding company immediately following
that transaction are substantially the same as the holders of the Company&rsquo;s Voting Stock immediately prior to that transaction
or (B)&nbsp;immediately following that transaction no person (other than a holding company satisfying the requirements of this
sentence) is the beneficial owner, directly or indirectly, of more than 50% of the Voting Stock of such holding company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;Change of Control Repurchase Event&rdquo;
means, both (1) the rating on the Securities of this series is lowered by at least two of the three Rating Agencies and (2) the
Securities of this series are rated below Investment Grade by at least two of the three Rating Agencies, in each case on any date
during the 60-day period (which period shall be extended so long as the rating of the Securities of this series is under publicly
announced consideration for a possible downgrade by any of the Rating Agencies) (the &ldquo;Trigger Period&rdquo;) after the earlier
of (A)&nbsp;the occurrence of a Change of Control; or (B)&nbsp;public notice of the occurrence of a Change of Control or the intention
by the Company to effect a Change of Control. Unless at least two of the three Rating Agencies are providing a rating for the Securities
of this series at the commencement of any Trigger Period, the ratings on the Securities of this series will be deemed to have been
lowered by at least two of the three Rating Agencies, and the Securities of this series will be deemed to be rated below Investment
Grade by at least two of the three Rating Agencies during the Trigger Period. Notwithstanding the foregoing, no Change of Control
Repurchase Event will be deemed to have occurred in connection with any particular Change of Control unless and until such Change
of Control has actually been consummated</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;Fitch&rdquo; means Fitch Ratings
Inc. and its successors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;Investment Grade&rdquo; means a rating
of Baa3 or better by Moody&rsquo;s (or its equivalent under any successor rating categories of Moody&rsquo;s); a rating of BBB-
or better by S&amp;P (or its equivalent under any successor rating categories of S&amp;P); a rating of BBB- or better by Fitch
(or its equivalent under any successor rating categories of Fitch); and the equivalent Investment Grade credit rating from any
additional Rating Agency or Rating Agencies selected by the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;Moody&rsquo;s&rdquo; means Moody&rsquo;s
Investors Service Inc., a subsidiary of Moody&rsquo;s Corporation, and its successors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;Rating Agency&rdquo; means each of
Moody&rsquo;s, S&amp;P and Fitch;&nbsp;<I>provided</I>, that if any of Moody&rsquo;s, S&amp;P or Fitch ceases to rate the Securities
of this series or fails to make a rating of the Securities of this series publicly available for reasons outside of the Company&rsquo;s
control, the Company may select (as certified by a resolution of the Company&rsquo;s board of directors) a &ldquo;nationally recognized
statistical rating organization&rdquo; within the meaning of Section&nbsp;3(a)(62) under the Exchange Act as a replacement agency
for Moody&rsquo;s, S&amp;P or Fitch, or all of them, as the case may be, that is reasonably acceptable to the Trustee under the
Indenture.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;S&amp;P&rdquo; means Standard&nbsp;&amp;
Poor&rsquo;s Global Ratings, a division of S&amp;P Global, Inc.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;Voting Stock&rdquo; of any specified
 &ldquo;person&rdquo; (as that term is used in Section&nbsp;13(d)(3) of the Exchange Act) as of any date means the capital stock
of such person that is at the time entitled to vote generally in the election of the board of directors of such person.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">If an Event of Default with respect to Securities
of this series shall occur and be continuing, the principal of the Securities of this series may be declared due and payable in
the manner and with the effect provided in the Indenture.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The provisions relating to defeasance and
discharge set forth in Section&nbsp;1302 of the Indenture and covenant defeasance set forth in Section&nbsp;1303 of the Indenture
are applicable to the Securities of this series.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Indenture permits, with certain exceptions
as therein provided, the amendment thereof and the modification of the rights and obligations of the Company and the rights of
the Holders of the Securities of each series to be affected under the Indenture at any time by the Company and the Trustee with
the consent of the Holders of 50% in principal amount of the Securities at the time Outstanding of each series to be affected.
The Indenture also contains provisions permitting the Holders of specified percentages in principal amount of the Securities of
each series at the time Outstanding, on behalf of the Holders of all Securities of such series, to waive compliance by the Company
with certain provisions of the Indenture and certain past defaults under the Indenture and their consequences. Any such consent
or waiver by the Holder of this Security shall be conclusive and binding upon such Holder and upon all future Holders of this Security
and of any Security issued upon the registration of transfer hereof or in exchange herefor or in lieu hereof, whether or not notation
of such consent or waiver is made upon this Security.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">As set forth in, and subject to, the provisions
of the Indenture, no Holder of any Security of this series will have any right to institute any proceeding with respect to the
Indenture or for any remedy thereunder, unless such Holder shall have previously given to the Trustee written notice of a continuing
Event of Default with respect to this series, the Holders of not less than 25% in principal amount of the Outstanding Securities
of this series shall have made written request, and offered reasonable indemnity, to the Trustee to institute such proceeding as
trustee, and the Trustee shall not have received from the Holders of a majority in principal amount of the Outstanding Securities
of this series a direction inconsistent with such request and shall have failed to institute such proceeding within 60 days; provided,
however, that such limitations do not apply to a suit instituted by the Holder hereof for the enforcement of payment of the principal
of and any premium or interest on this Security on or after the respective due dates expressed herein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">No reference herein to the Indenture, and
no provision of this Security or of the Indenture, shall alter or impair the obligation of the Company, which is absolute and unconditional,
to pay the principal of (and premium, if any) and interest on this Security at the times, place(s) and rate, and in the coin or
currency, herein prescribed.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">As provided in the Indenture and subject
to certain limitations therein set forth, the transfer of this Security is registrable in the Security Register, upon surrender
of this Security for registration of transfer at the office or agency of the Company in any place where the principal of and any
premium and interest on this Security are payable or, subject to any laws or regulations applicable thereto and to the right of
the Company (limited as provided in the Indenture) to rescind the designation of any such transfer agent, at the main offices of
the Company in Pittsburgh, Pennsylvania and in or at such other offices or agencies as the Company may designate, duly endorsed
by, or accompanied by a written instrument of transfer in form satisfactory to the Company and the Security Registrar duly executed
by, the Holder hereof or his attorney duly authorized in writing, and thereupon one or more new Securities of this series and of
like tenor, of authorized denominations and for the same aggregate principal amount, will be issued to the designated transferee
or transferees.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Securities of this series are issuable
only in registered form, without coupons, in denominations of $2,000 and integral multiples of $1,000 in excess thereof. As provided
in the Indenture and subject to certain limitations therein set forth, Securities of this series are exchangeable for a like aggregate
principal amount of Securities of this series and of like tenor of a different authorized denomination, as requested by the Holder
surrendering the same.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">No service charge shall be made for any
such registration of transfer or exchange, but the Company may require payment of a sum sufficient to cover any tax or other governmental
charge payable in connection therewith.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Prior to due presentment of this Security
for registration of transfer, the Company, the Trustee and any agent of the Company or the Trustee may treat the Person in whose
name this Security is registered as the owner hereof for all purposes, whether or not this Security is overdue, and neither the
Company, the Trustee nor any such agent shall be affected by notice to the contrary.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">As used in this Security, &ldquo;Business
Day&rdquo; means any day other than a Saturday or Sunday, that is not a day on which banking institutions are authorized or obligated
by law or executive order to close in The City of New York. All other terms used in this Security which are defined in the Indenture
and are not defined herein shall have the meanings assigned to them in the Indenture.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">OPTION OF HOLDER TO ELECT PURCHASE</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">If you want to elect to have this Security
purchased by the Company pursuant to the Change of Control Repurchase Event provisions of this Security, check the following box:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: 0.25in">/&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;/&nbsp;&nbsp;Purchase
pursuant to Change of Control Repurchase Event</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">If you want to elect to have only part of
this Security purchased by the Company pursuant to the Change of Control Repurchase Event provisions of this Security, state the
amount:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">$ <U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="width: 10%">&nbsp;</TD>
    <TD STYLE="width: 35%">&nbsp;</TD>
    <TD STYLE="width: 10%">&nbsp;</TD>
    <TD STYLE="width: 10%">&nbsp;</TD>
    <TD STYLE="width: 35%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>Date:</TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Your&nbsp;Signature:</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;(Sign exactly as your name appears on the other side of the Security)</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="width: 20%">Signature&nbsp;Guarantee:</TD>
    <TD STYLE="width: 40%">&nbsp;</TD>
    <TD STYLE="width: 40%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>&nbsp;</TD>
    <TD>Signature must be guaranteed by a participant in a recognized signature guarantee medallion program or other signature guarantor
acceptable to the Trustee.</TD>
    <TD>&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<DOCUMENT>
<TYPE>EX-5.1
<SEQUENCE>4
<FILENAME>tm2016823d1_ex5-1.htm
<DESCRIPTION>EXHIBIT 5.1
<TEXT>
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<P STYLE="text-align: right; margin: 0"><B>Exhibit 5.1</B></P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"><IMG SRC="tm2016823d1_ex5-1x001.jpg" ALT="">&nbsp;</P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">April 24, 2020</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Howmet Aerospace Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">201 Isabella Street, Suite 200</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Pittsburgh, PA 15212-5872</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>



<P STYLE="margin: 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">Re:</TD><TD STYLE="text-align: justify">Howmet Aerospace Inc.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We have acted as special transaction counsel
to Howmet Aerospace Inc., a Delaware corporation (the &ldquo;Company&rdquo;), in connection with the issuance and sale by the Company
of $1,200,000,000 aggregate principal amount of its 6.875% Notes due 2025 (the &ldquo;Notes&rdquo;) pursuant to the Underwriting
Agreement (the &ldquo;Underwriting Agreement&rdquo;), dated April 22, 2020, between the Company and J.P. Morgan Securities LLC,
as representative of the underwriters named therein (collectively, the &ldquo;Underwriters&rdquo;). The Securities are being offered
and sold to the Underwriters in an offering registered under the Securities Act of 1933, as amended (the &ldquo;Securities Act&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The following documents are referred to
collectively in this opinion letter as the &ldquo;Transaction Documents&rdquo;:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Underwriting Agreement; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Indenture, dated as of September&nbsp;30, 1993, between Alcoa Inc. (formerly known as Aluminum Company of America), a Pennsylvania
corporation, and The Bank of New York Mellon Trust Company, N.A. (formerly known as The Bank of New York Trust Company, N.A.),
as trustee, as successor to J.P. Morgan Trust Company, National Association (formerly known as Chase Manhattan Trust Company, N.A.,
as successor to PNC Bank, National Association)) (the &ldquo;Original Indenture&rdquo;), as supplemented by the First Supplemental
Indenture, dated as of January&nbsp;25, 2007, between Alcoa Inc., a Pennsylvania corporation, and such trustee (the &ldquo;First
Supplemental Indenture&rdquo;), the Second Supplemental Indenture, dated as of July&nbsp;15, 2008, between Alcoa Inc., a Pennsylvania
corporation, and such trustee (the &ldquo;Second Supplemental Indenture&rdquo;), the Fourth Supplemental Indenture, dated as of
December 31, 2017, among Arconic Inc. (formerly known as Alcoa Inc.), a Pennsylvania corporation, Arconic Inc., a Delaware corporation,
and such trustee (the &ldquo;Fourth Supplemental Indenture&rdquo;), and the Fifth Supplemental Indenture, dated as of April 15,
2020, between Howmet Aerospace Inc. (formerly known as Arconic Inc.) and such trustee (the &ldquo;Fifth Supplemental Indenture&rdquo;)
(the Original Indenture, as so supplemented by the First Supplemental Indenture, the Second Supplemental Indenture, the Fourth
Supplemental Indenture and the Fifth Supplemental Indenture, the &ldquo;Indenture&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">In connection with rendering the opinions
set forth below, we have examined (i) the Registration Statement on Form S-3 (File No. 333-237705) (the &ldquo;Registration Statement&rdquo;)
filed with the Securities and Exchange Commission (the &ldquo;Commission&rdquo;) on April 16, 2020 relating to an unspecified
aggregate initial offering price or number of senior debt securities of the Company; (ii) the Prospectus, dated April 16, 2020,
as supplemented by the accompanying Preliminary Prospectus Supplement, dated April 22, 2020, relating to the Notes, as filed by
the Company with the Commission on April 22, 2020 pursuant to Rule 424(b) under the Securities Act, including all material incorporated
by reference therein; (iii) the Final Term Sheet relating to the Notes, as filed by the Company with the Commission on April 22,
2020 pursuant to Rule 433 under the Act; (iv) the Prospectus, dated April 16, 2020, as supplemented by the accompanying Prospectus
Supplement, dated April 22, 2020, reflecting the final terms of the Notes and the terms of the offering thereof, as filed by the
Company with the Commission on April 24, 2020 pursuant to Rule 424(b) under the Securities Act, including all material incorporated
by reference therein (the &ldquo;Prospectus&rdquo;); (v) the Transaction Documents; (vi) the Company&rsquo;s Certificate of Incorporation,
as amended, and Bylaws, as amended; (vii) copies of the resolutions adopted by the Board of Directors of the Company on April
9, 2020 (the &ldquo;Authorizing Resolutions&rdquo;) and by the Authorized Pricing Officers (as defined in the Authorizing Resolutions)
of the Company on April 22, 2020; (viii) the Certificate of Designated Officer Establishing Terms and Form of Debt Securities,
establishing the terms and form of the Notes pursuant to Sections 201 and 301 of the Indenture, dated as of the date hereof; (ix)
the Officers&rsquo; Certificate, dated as of the date hereof, required pursuant to Sections 102 and 301 of the Indenture; (x)
a certificate of the Assistant Secretary of the Company, dated as of the date hereof and (xi) specimens of the Notes. In addition,
we have made such investigation of law as we have deemed appropriate.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase"><FONT STYLE="font-size: 7pt">K&amp;L
Gates LLP</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase"><FONT STYLE="font-size: 7pt">K&amp;L
Gates Center 210 Sixth Avenue Pittsburgh PA 15222-2613</FONT></P>

<P STYLE="margin: 0pt 0; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 7pt">T +1 412 355 6500 F +1 412 355
6501 klgates.com</FONT></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">For the purposes of this opinion letter,
we have made the assumptions that are customary in opinion letters of this kind, including that (i) each document submitted to
us is accurate and complete, (ii) each such document that is an original is authentic, (iii) each such document that is a copy
conforms to an authentic original and (iv) all signatures on each such document are genuine. We also have assumed for purposes
of this opinion letter (i) the legal capacity of natural persons, (ii) that each party to each of the Transaction Documents has
the legal capacity or authority and has satisfied all legal requirements that are applicable to that party to the extent necessary
to make each Transaction Document to which it is a party enforceable against it; and (iii) that each party to each of the Transaction
Documents has complied with all state and federal statutes, rules and regulations applicable to it arising out of the transactions
set forth in the Transaction Documents to which it is a party. We have not verified any of the foregoing assumptions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The opinions expressed in this opinion letter
are limited to the laws of the Commonwealth of Pennsylvania, the General Corporation Law of the State of Delaware, and applicable
federal securities laws of the United States. We are not opining on, and we assume no responsibility for, the applicability to
or effect on any of the matters covered herein of (i) any other laws; (ii) the laws of any other jurisdiction; or (iii) the law
of any county, municipality or other political subdivision or local governmental agency or authority.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Based on the foregoing, and subject to the
foregoing and the additional qualifications and other matters set forth below, it is our opinion that the Notes have been duly
authorized, executed and delivered and, when authenticated in accordance with the provisions of the Indenture and delivered to
and paid for by the Underwriters pursuant to the Underwriting Agreement, will constitute valid and binding obligations of the Company
and be entitled to the benefits of the Indenture.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The opinions set forth above are subject
to the effects of (a) bankruptcy, insolvency, fraudulent conveyance, fraudulent transfer, voidable transactions, reorganization,
receivership, moratorium and other similar laws relating to or affecting the enforcement of creditors&rsquo; rights or remedies
generally; (b) general principles of equity, regardless of whether such principles are considered in a proceeding at law or in
equity; and (c) an implied covenant of good faith, reasonableness, fair dealing and standards of materiality.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

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                                         24, 2020</FONT></P></TD></TR></TABLE></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We express no opinion with respect to any
provision in the Notes (i) that purports to waive forum non conveniens or trial by jury; (ii) that relates to judgments in currencies
other than U.S. dollars; (iii) that purports to limit any person&rsquo;s liability, or relieve any party of the consequences of,
its own unlawful, willful, reckless, bad faith, or negligent acts or omissions, or that grants indemnity or a right of contribution;
(iv) that purports to allow any party to interfere unreasonably in the conduct of another party&rsquo;s business; (v) that purports
to require the payment or reimbursement of fees, costs, expenses or other amounts that are unreasonable in nature or amount or
without a reasonable accounting of the sums purportedly due or that are contrary to applicable law or public policy; (vi) that
purports to prohibit the assignment of rights that are assignable pursuant to applicable law notwithstanding an agreement not to
assign such rights; (vii) that purports to require that amendments or waivers to any agreement be in writing; (viii) relating to
severability or set-off; (ix) that purports to limit access exclusively to any particular courts; (x) that purports to place a
limitation on lawsuits to the extent that it may conflict with federal bankruptcy law, in which case such provision may be deemed
void or voidable under federal bankruptcy law; (xi) that provides that no recourse may be had against any successors of the Company
or any stockholder of the Company that may be a controlling person under federal securities laws; (xii) that purports to waive
or modify any party&rsquo;s obligations of good faith, fair dealing, diligence, mitigation of damages, reasonableness or due notice,
or the right of redemption under the Uniform Commercial Code or other applicable law; (xiii) that provides for advance waivers
of claims, defenses, rights granted by law, or notice, opportunity for hearing, evidentiary requirements, statutes of limitation,
trial by jury or at law, or other procedural rights; (xiv) that provides that decisions by a party are conclusive or may be made
in its sole discretion; (xv) that consents to, or restricts governing law, jurisdiction, venue, arbitration, remedies or judicial
relief; (xvi) that waives broadly or vaguely stated rights; (xvii) that provides for exclusivity, election or cumulation of rights
or remedies; (xviii) that provides a proxy, power of attorney or trust; (xix) that prohibits, restricts, or requires consent to
assignment or transfer of any right or property; and (xx) that provides for liquidated damages, an increased interest rate on default,
interest on interest, late charges, monetary penalties, make-whole premiums or other economic remedies to the extent such provisions
may be found to constitute a penalty. We also express no opinion concerning whether a U.S. federal court would accept jurisdiction
in any dispute, action, suit or proceeding arising out of or relating to any agreement or the transactions contemplated thereby
or the net impact or result of any conflict of laws between or among laws of competing jurisdictions and the applicability of the
law of any jurisdiction in such instance.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">This opinion is limited to the matters stated
in this letter, and no opinions may be implied or inferred beyond the matters expressly stated in this letter. This opinion is
being given as of the date hereof, and we assume no obligation to update or supplement any of our opinions to reflect any changes
of law or fact that may occur after the date hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

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                                         24, 2020</FONT></P></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We hereby consent to the filing of this
opinion letter with the Commission as an exhibit to the Company&rsquo;s Current Report on Form 8-K, the incorporation by reference
of this opinion into the Registration Statement, and the reference to this firm in the Prospectus forming a part thereof under
the caption &ldquo;Legal Matters&rdquo;. In giving our consent, we do not thereby admit that we are experts with respect to any
part of the Registration Statement or the Prospectus within the meaning of the term &ldquo;expert&rdquo;, as used in Section 11
of the Securities Act or the rules and regulations promulgated thereunder, nor do we admit that we are in the category of persons
whose consent is required under Section 7 of the Securities Act or the rules and regulations thereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Yours truly,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">/s/ K&amp;L Gates LLP</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in"></P>

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                                         24, 2020</FONT></P></TD></TR></TABLE></DIV>
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<TYPE>EX-99.1
<SEQUENCE>5
<FILENAME>tm2016823d1_ex99-1.htm
<DESCRIPTION>EXHIBIT 99.1
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<P STYLE="text-align: right; margin: 0"><B>Exhibit 99.1</B></P>

<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><IMG SRC="tm2016823d1_ex99-1x001.jpg" ALT="" STYLE="height: 172px; width: 148px"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FOR IMMEDIATE RELEASE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="width: 52%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="width: 47%">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">Investor Contact:</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right"><FONT STYLE="font-size: 10pt">Media Contact:</FONT></TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">Paul T. Luther</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right"><FONT STYLE="font-size: 10pt">Esra Ozer</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">(412) 553-1950</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right"><FONT STYLE="font-size: 10pt">(412) 553-2666</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">Paul.Luther@howmet.com</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right"><FONT STYLE="font-size: 10pt">Esra.Ozer@howmet.com</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Howmet Aerospace Inc. Announces Closing
of Debt Offering </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">PITTSBURGH, April 24, 2020 &ndash; Howmet
Aerospace Inc. (NYSE: HWM) (&ldquo;Howmet Aerospace&rdquo; or the &ldquo;Company&rdquo;) today announced that it has closed its
underwritten public offering of $1,200,000,000 aggregate principal amount of its 6.875% Notes due 2025 (the &ldquo;Notes&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Company intends
to use the net proceeds from the offering to fund an aggregate purchase price of up to $785,000,000 for purchases of its outstanding
5.40% Notes due 2021 and up to $210,000,000 for purchases of its outstanding 5.87% Notes due 2022, in each case pursuant to cash
tender offers (the &ldquo;Tender Offers&rdquo;) that the Company announced on April 22, 2020, and to pay related transaction fees,
including applicable premiums and expenses. The remaining net proceeds are intended to be used for general corporate purposes,
which may include the repayment and/or repurchase of other outstanding indebtedness as may be determined by management. The Tender
Offer in respect of the 5.40% Notes due 2021 includes a solicitation of consents to amend the related indenture. The Tender Offer
in respect of the 5.87% Notes due 2022 does not include any consent solicitation. The Tender Offers are being made pursuant to
the Offer to Purchase and Consent Solicitation Statement dated April 22, 2020. The closing of the offering satisfies the financing
condition for the Tender Offers described in the Offer to Purchase and Consent Solicitation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">J.P. Morgan Securities
LLC acted as sole book-running manager for the offering.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">This press release
does not constitute an offer to sell or a solicitation of an offer to buy the Notes or any other security and shall not constitute
an offer, solicitation or sale in any state or jurisdiction in which, or to any persons to whom, such an offer, solicitation or
sale would be unlawful. The Notes were offered pursuant to an effective&nbsp;shelf&nbsp;registration statement previously filed
with the Securities and Exchange Commission (the &ldquo;SEC&rdquo;), and a&nbsp;prospectus&nbsp;supplement and accompanying&nbsp;prospectus&nbsp;filed
with the SEC as part of the&nbsp;shelf&nbsp;registration statement. The offering was made only by means of a prospectus supplement
and the accompanying prospectus. Copies of these documents can be obtained from J.P. Morgan Securities LLC, c/o Broadridge Financial
Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by calling (866) 803-9204.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>About Howmet Aerospace</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Howmet Aerospace Inc.,
headquartered in Pittsburgh, Pennsylvania, is a leading global provider of advanced engineered solutions for the aerospace and
transportation industries. The Company&rsquo;s primary businesses focus on jet engine components, aerospace fastening systems,
and titanium structural parts necessary for mission-critical performance and efficiency in aerospace and defense applications,
as well as forged wheels for commercial transportation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Forward-Looking Statements</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">This press release
contains statements that relate to future events and expectations and as such constitute forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include those containing such words
as &ldquo;anticipates,&rdquo; &ldquo;believes,&rdquo; &ldquo;could,&rdquo; &ldquo;expects,&rdquo; &ldquo;forecasts,&rdquo; &ldquo;guidance,&rdquo;
 &ldquo;intends,&rdquo; &ldquo;may,&rdquo; &ldquo;outlook,&rdquo; &ldquo;plans,&rdquo; &ldquo;projects,&rdquo; &ldquo;targets,&rdquo;
 &ldquo;will,&rdquo; &ldquo;would,&rdquo; or other words of similar meaning. All statements that reflect Howmet Aerospace&rsquo;s
expectations, assumptions or projections about the future, other than statements of historical fact, are forward-looking statements,
including, without limitation, statements regarding the intended conduct, timing and terms of the Tender Offers, related financing
plans and any future actions by Howmet Aerospace in respect of the notes subject to the Tender Offers. These statements reflect
beliefs and assumptions that are based on Howmet Aerospace&rsquo;s perception of historical trends, current conditions and expected
future developments, as well as other factors Howmet Aerospace believes are appropriate in the circumstances. Forward-looking statements
are not guarantees of future performance and are subject to risks, uncertainties and changes in circumstances that are difficult
to predict, which could cause actual results to differ materially from those indicated by these statements. Such risks and uncertainties
include, but are not limited to: (a) the anticipated use of proceeds; (b) the impact of the separation on the businesses of Howmet
Aerospace; (c) deterioration in global economic and financial market conditions generally, including as a result of pandemic health
issues (including coronavirus and its effects, among other things, on global supply, demand, and distribution disruptions as the
coronavirus outbreak continues and results in an increasingly prolonged period of travel, commercial and/or other similar restrictions
and limitations); (d) unfavorable changes in the markets served by Howmet Aerospace; (e) the inability to achieve the level of
revenue growth, cash generation, cost savings, improvement in profitability and margins, fiscal discipline, or strengthening of
competitiveness and operations anticipated or targeted; (f) competition from new product offerings, disruptive technologies or
other developments; (g) political, economic, and regulatory risks relating to Howmet Aerospace&rsquo;s global operations, including
compliance with U.S. and foreign trade and tax laws, sanctions, embargoes and other regulations; (h) manufacturing difficulties
or other issues that impact product performance, quality or safety; (i) Howmet Aerospace&rsquo;s inability to realize expected
benefits, in each case as planned and by targeted completion dates, from acquisitions, divestitures, facility closures, curtailments,
expansions, or joint ventures; (j) the impact of potential cyber attacks and information technology or data security breaches;
(k) the loss of significant customers or adverse changes in customers&rsquo; business or financial conditions; (l) adverse changes
in discount rates or investment returns on pension assets; (m) the impact of changes in aluminum prices and foreign currency exchange
rates on costs and results; (n) the outcome of contingencies, including legal proceedings, government or regulatory investigations,
and environmental remediation, which can expose Howmet Aerospace to substantial costs and liabilities; and (o) the other risk factors
summarized in Howmet Aerospace&rsquo;s Form 10-K for the year ended December 31, 2019 and other reports filed with the SEC. Market
projections are subject to the risks discussed above and other risks in the market. The statements in this press release are made
as of the date of this press release, even if subsequently made available by Howmet Aerospace on its website or otherwise. Howmet
Aerospace disclaims any intention or obligation to update publicly any forward-looking statements, whether in response to new information,
future events, or otherwise, except as required by applicable law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>



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<DOCUMENT>
<TYPE>EX-101.SCH
<SEQUENCE>8
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<TEXT>
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</schema>
</XBRL>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.DEF
<SEQUENCE>9
<FILENAME>hwm-20200424_def.xml
<DESCRIPTION>XBRL TAXONOMY EXTENSION DEFINITION LINKBASE
<TEXT>
<XBRL>
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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.PRE
<SEQUENCE>11
<FILENAME>hwm-20200424_pre.xml
<DESCRIPTION>XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE
<TEXT>
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<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6630265696">
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<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Cover<br></strong></div></th>
<th class="th"><div>Apr. 24, 2020</div></th>
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<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityFileNumber', window );">Entity File Number</a></td>
<td class="text">1-3610<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityRegistrantName', window );">Entity Registrant Name</a></td>
<td class="text">HOWMET AEROSPACE INC.<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityCentralIndexKey', window );">Entity Central Index Key</a></td>
<td class="text">0000004281<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityTaxIdentificationNumber', window );">Entity Tax Identification Number</a></td>
<td class="text">25-0317820<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityIncorporationStateCountryCode', window );">Entity Incorporation, State or Country Code</a></td>
<td class="text">DE<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityAddressAddressLine1', window );">Entity Address, Address Line One</a></td>
<td class="text">201 Isabella Street<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityAddressAddressLine2', window );">Entity Address, Address Line Two</a></td>
<td class="text">Suite 200<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityAddressCityOrTown', window );">Entity Address, City or Town</a></td>
<td class="text">Pittsburgh<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityAddressStateOrProvince', window );">Entity Address, State or Province</a></td>
<td class="text">PA<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityAddressPostalZipCode', window );">Entity Address, Postal Zip Code</a></td>
<td class="text">15212-5872<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_CityAreaCode', window );">City Area Code</a></td>
<td class="text">412<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_LocalPhoneNumber', window );">Local Phone Number</a></td>
<td class="text">553-1940<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_WrittenCommunications', window );">Written Communications</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_SolicitingMaterial', window );">Soliciting Material</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_PreCommencementTenderOffer', window );">Pre-commencement Tender Offer</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_PreCommencementIssuerTenderOffer', window );">Pre-commencement Issuer Tender Offer</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityEmergingGrowthCompany', window );">Entity Emerging Growth Company</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StatementClassOfStockAxis=us-gaap_CommonStockMember', window );">Common Stock, par value $1.00 per share</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_DocumentInformationLineItems', window );"><strong>Document Information [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_Security12bTitle', window );">Title of 12(b) Security</a></td>
<td class="text">Common Stock, par value $1.00 per share<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_TradingSymbol', window );">Trading Symbol</a></td>
<td class="text">HWM<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_SecurityExchangeName', window );">Security Exchange Name</a></td>
<td class="text">NYSE<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StatementClassOfStockAxis=us-gaap_PreferredClassAMember', window );">Preferred Stock</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_DocumentInformationLineItems', window );"><strong>Document Information [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_Security12bTitle', window );">Title of 12(b) Security</a></td>
<td class="text">$3.75 Cumulative Preferred Stock, par value $100 per share<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_TradingSymbol', window );">Trading Symbol</a></td>
<td class="text">HWM PR<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_SecurityExchangeName', window );">Security Exchange Name</a></td>
<td class="text">NYSEAMER<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_AmendmentFlag">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the XBRL content amends previously-filed or accepted submission.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_AmendmentFlag</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_CityAreaCode">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Area code of city</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_CityAreaCode</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentInformationLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentInformationLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentPeriodEndDate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The end date of the period reflected on the cover page if a periodic report. For all other reports and registration statements containing historical data, it is the date up through which that historical data is presented.  If there is no historical data in the report, use the filing date. The format of the date is CCYY-MM-DD.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentPeriodEndDate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:dateItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentType">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word 'Other'.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentType</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:submissionTypeItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressAddressLine1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Address Line 1 such as Attn, Building Name, Street Name</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressAddressLine1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressAddressLine2">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Address Line 2 such as Street or Suite number</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressAddressLine2</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressCityOrTown">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Name of the City or Town</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressCityOrTown</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressPostalZipCode">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Code for the postal or zip code</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressPostalZipCode</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressStateOrProvince">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Name of the state or province.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressStateOrProvince</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:stateOrProvinceItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityCentralIndexKey">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation 12B<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityCentralIndexKey</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:centralIndexKeyItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityEmergingGrowthCompany">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Indicate if registrant meets the emerging growth company criteria.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation 12B<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityEmergingGrowthCompany</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityFileNumber">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Commission file number. The field allows up to 17 characters. The prefix may contain 1-3 digits, the sequence number may contain 1-8 digits, the optional suffix may contain 1-4 characters, and the fields are separated with a hyphen.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityFileNumber</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:fileNumberItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityIncorporationStateCountryCode">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Two-character EDGAR code representing the state or country of incorporation.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityIncorporationStateCountryCode</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>dei:edgarStateCountryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityRegistrantName">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation 12B<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityRegistrantName</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityTaxIdentificationNumber">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The Tax Identification Number (TIN), also known as an Employer Identification Number (EIN), is a unique 9-digit value assigned by the IRS.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation 12B<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityTaxIdentificationNumber</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:employerIdItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_LocalPhoneNumber">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Local phone number for entity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_LocalPhoneNumber</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_PreCommencementIssuerTenderOffer">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 13e<br> -Subsection 4c<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_PreCommencementIssuerTenderOffer</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_PreCommencementTenderOffer">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 14d<br> -Subsection 2b<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_PreCommencementTenderOffer</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_Security12bTitle">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Title of a 12(b) registered security.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection b<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_Security12bTitle</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:securityTitleItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_SecurityExchangeName">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Name of the Exchange on which a security is registered.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection d1-1<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_SecurityExchangeName</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:edgarExchangeCodeItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_SolicitingMaterial">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as soliciting material pursuant to Rule 14a-12 under the Exchange Act.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Section 14a<br> -Number 240<br> -Subsection 12<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_SolicitingMaterial</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_TradingSymbol">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Trading symbol of an instrument as listed on an exchange.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_TradingSymbol</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>dei:tradingSymbolItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_WrittenCommunications">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as written communications pursuant to Rule 425 under the Securities Act.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Securities Act<br> -Number 230<br> -Section 425<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_WrittenCommunications</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StatementClassOfStockAxis=us-gaap_CommonStockMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StatementClassOfStockAxis=us-gaap_CommonStockMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<td><strong> Period Type:</strong></td>
<td></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StatementClassOfStockAxis=us-gaap_PreferredClassAMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
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