Exhibit 99.2
Fourth Quarter 2021 Earnings Call Tim Myers – Chief Executive OfficerErick Asmussen – Chief Financial Officer February 18, 2022

Important Information 2 Forward-Looking Statements This presentation 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 "anticipates," "believes," "could," "estimates," "expects," "forecasts," "goal," "guidance," "intends," "may," "outlook," "plans," "projects," "seeks," "sees," "should," "targets," "will," "would," or other words of similar meaning. All statements that reflect Arconic’s expectations, assumptions, projections, beliefs or opinions about the future, other than statements of historical fact, are forward-looking statements, including, without limitation, statements, relating to the condition of, or trends or developments in, the ground transportation, aerospace, building and construction, industrial, packaging and other end markets; Arconic’s future financial results, operating performance, working capital, cash flows, liquidity and financial position; cost savings and restructuring programs; Arconic's strategies, outlook, business and financial prospects; share repurchases; costs associated with pension and other postretirement benefit plans; projected sources of cash flow; potential legal liability; the impact of inflationary price pressures; the impact of the COVID-19 pandemic; and the timing and levels of potential recovery from the COVID-19 pandemic within our end markets. These statements reflect beliefs and assumptions that are based on Arconic’s perception of historical trends, current conditions and expected future developments, as well as other factors Arconic believes are appropriate in the circumstances. Forward-looking statements are not guarantees of future performance, and actual results may differ materially from those indicated by these forward-looking statements due to a variety of risks, uncertainties and changes in circumstances, many of which are beyond Arconic’s control. Such risks and uncertainties include, but are not limited to: (a) continuing uncertainty regarding the duration and impact of the COVID-19 pandemic on our business and the businesses of our customers and suppliers including labor shortages and increased quarantine rates; (b) deterioration in global economic and financial market conditions generally; (c) unfavorable changes in the end markets we serve; (d) the inability to achieve the level of revenue growth, cash generation, cost savings, benefits of our management of legacy liabilities, improvement in profitability and margins, fiscal discipline, or strengthening of competitiveness and operations anticipated or targeted; (e) adverse changes in discount rates or investment returns on pension assets; (f) competition from new product offerings, disruptive technologies, industry consolidation or other developments; (g) the loss of significant customers or adverse changes in customers’ business or financial condition; (h) manufacturing difficulties or other issues that impact product performance, quality or safety; (i) the impact of pricing volatility in raw materials and inflationary pressures on our costs of production; (j) a significant downturn in the business or financial condition of a key supplier or other supply chain disruptions; (k) challenges to or infringements on our intellectual property rights; (l) the inability to successfully implement our re-entry into the U.S. packaging market or to realize the expected benefits of other strategic initiatives or projects; (m) the inability to identify or successfully respond to changing trends in our end markets; (n) the impact of potential cyber attacks and information technology or data security breaches; (o) geopolitical, economic, and regulatory risks relating to our global operations, including compliance with U.S. and foreign trade and tax laws, sanctions, embargoes and other regulations, and the potential for increased tensions between the United States and Russia resulting from the current situation involving Russia and the Ukraine; (p) the outcome of contingencies, including legal proceedings, government or regulatory investigations, and environmental remediation and compliance matters; (q) restrictions imposed by authorities on the operation of our Samara, Russia facility; and (r) the other risk factors summarized in Arconic’s Form 10-K for the year ended December 31, 2021 and other reports filed with the U.S. Securities and Exchange Commission (SEC). The above list of factors is not exhaustive or necessarily in order of importance. Market projections are subject to the risks discussed above and in this presentation, and other risks in the market. The statements in this presentation are made as of the date of this presentation, even if subsequently made available by Arconic on its website or otherwise. Arconic 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.

Important Information (cont’d) 3 Non-GAAP Financial MeasuresSome of the information included in this presentation is derived from Arconic’s consolidated financial information but is not presented in Arconic’s financial statements prepared in accordance with accounting principles generally accepted in the United States of America (GAAP). Certain of these financial measures are considered “non-GAAP financial measures” under SEC rules. These non-GAAP financial measures supplement our GAAP disclosures and should not be considered an alternative to any measure of performance or financial condition as determined in accordance with GAAP, and investors should consider Arconic’s performance and financial condition as reported under GAAP and all other relevant information when assessing the performance or financial condition of Arconic. Non-GAAP financial measures have limitations as analytical tools, and investors should not consider them in isolation or as a substitute for analysis of the results or financial condition as reported under GAAP. Non-GAAP financial measures presented by Arconic may not be comparable to non-GAAP financial measures presented by other companies. Reconciliations to the most directly comparable GAAP financial measures and management’s rationale for the use of the non-GAAP financial measures can be found in the appendix to this presentation. Arconic has not provided reconciliations of any forward-looking non-GAAP financial measures, such as adjusted EBITDA, free cash flow, and adjusted free cash flow, to the most directly comparable GAAP financial measures because such reconciliations are not available without unreasonable efforts due to the variability and complexity with respect to the charges and other components excluded from the non-GAAP measures, such as the effects of metal price lag, foreign currency movements, gains or losses on sales of assets, taxes, and any future restructuring or impairment charges. These reconciling items are in addition to the inherent variability already included in the GAAP measures, which includes, but is not limited to, price/mix and volume. Arconic believes such reconciliations would imply a degree of precision that would be confusing or misleading to investors.

2021 Headlined by Growth, Commercial Wins, and Liability Reduction Profit Growth Driven by Recovering Markets and Strong Execution Sales of $7.5 billion, up 32% year over year (13% organically)Net loss of $397 million, or $3.65 per share, compared with net loss of $109 million, or $1.00 per share, in 2020. The full-year 2021 includes after-tax non-cash charges for pension settlement related to partial annuitization of U.S. pension obligations of $423 million and goodwill impairment of $65 millionAdjusted EBITDA of $712 million, up 15% year over year Commercial Wins in Key Markets Set the Course Forward Secured long-term contracts for over $2 billion in aerospace salesSigned agreements for ~$1.5 billion in North American packaging sales from 2022-2024Captured content on 23 automotive programs including last-mile delivery electric vehicles Capital Discipline Shown in Share Repurchases and Balance Sheet De-Risking Repurchased nearly 5 million shares using ~$161 million in first eight months of two-year $300 million authorizationAnnounced organic growth investments accounting for incremental run rate ~$75 million Adjusted EBITDA starting in 2023Reduced legacy pension, OPEB, and environmental net liabilities by ~$700 million and annual cash obligations by ~$250 million 4 See appendix for non-GAAP financial measure reconciliations. Nearly $100M improvement year over year in Adjusted EBITDAApproximately $2B reduction in gross liabilities or ~$700M net +15% Adjusted EBITDA2020 – 2021 ($M)

4Q 2021 Results Show Market Strength and Operational Flexibility Organic Growth and Profitability Increased Sequentially and Year over Year Sales of $2.1 billion, up 46% year over year (19% organically), and up 13% from prior quarterNet loss of $38 million, or $0.36 per share, compared with net loss of $64 million, or $0.59 per share, in 4Q 2020. Fourth quarter 2021 includes an after-tax non-cash goodwill impairment charge of $65 millionAdjusted EBITDA of $175 million, up 16% year over year, and up 2% from prior quarter Market Demand Robust as Range of Factors Handicap Production Results impacted by staffing issues related to Covid-19 variants and automotive weakness due to ongoing semiconductor shortagesIndustrial backlog reduced by ~50% and impacted by an equipment fire at Tennessee that pushed revenue into 2022Continuing to manage inflation in alloying metals, energy prices, and freight costs through price increases and productivity measuresDemand across all end markets expected to grow at multiple of GDP over next several years Balance Sheet Strength Supports Capital Allocation Opportunities Repurchased ~1.8 million shares for ~$55 million in 4Q 2021Liquidity profile improved with asset-based lending facility upsize in February 5 See appendix for non-GAAP financial measure reconciliations.

4Q 2021 Sales Grew Organically Across All Five Markets Ground TransportationGrowth in commercial transportation and automotive despite continued semiconductor shortageIndustrial Products and OtherDemand and pricing remain strong globally due to growing economy and favorable trade actionsBuilding and ConstructionPrice increases offsetting slightly lower demand in the non-residential market PackagingGlobal packaging demand continues to increase as can making capacity grows around the worldSteady ramp up of North American can sheet operationAerospaceAerospace segment improvement continues with substantial improvements to supply chain inventory levels Organic revenue is a non-GAAP financial measure. Management believes this measure is meaningful to investors as it presents revenue on a comparable basis for all periods presented due to the impact of changes in aluminum prices, divestitures, and foreign currency fluctuations relative to the prior year period. See appendix for non-GAAP financial measure reconciliations. 6 End Market Revenue year- over-year change Organic revenue year-over-year change Revenue sequential change Ground Transportation 46% 12% 13% Industrial Products and Other 42% 17% 16% Building and Construction 19% 9% 2% Packaging 97% 54% 22% Aerospace 36% 19% 11% 4Q 2021 Organic Revenue1by End Market

4Q 2021 Financial Highlights Sales of $2.1 billion, up 46% year over year, up 13% from prior quarter, and up 19% organically year over yearNet loss of $38 million, or $0.36 per share, compared with net loss of $64 million, or $0.59 per share, in 4Q 2020. Fourth quarter 2021 includes an after-tax non-cash goodwill impairment charge of $65 million Adjusted EBITDA of $175 million, up 16% year over year and up 2% from the prior quarterCash provided from operations was $96 million and capital expenditures were $61 million, resulting in free cash flow of $35 million Adjusted EBITDA 1Q 2020 – 4Q 2021 ($M) 7 Based on carve-out financial statements.See appendix for non-GAAP financial measure reconciliations. 1

Latest COVID-19 Variant Prolonged Labor Pressure into 4Q21 8 While Company staffing has improved over the last two quarters, the COVID-19 Omicron variant increased employee quarantine levels comparable to those of the prior peak in late-2020Spiking quarantine rates have created issues reaching full staffing levels on production linesVaccination incentive program rolled out in 4Q 2021Net employee additions increased by 27% sequentially in 4Q 2021 as hiring continued and exits slowedHave proactively initiated dialogue with the United Steelworkers ahead of contract expiration Global Employees Quarantined TrendSince Beginning of Pandemic Quarantine figures started to decline in the fall only to quickly spike to record highs in the winter, which resulted in continued staffing issues 681 new hires in 4Q 2021 Enhanced Hiring Efforts Driving Headcount Growth (Net Employee Additions)

4Q 2021 Revenue and Adjusted EBITDA: Year-over-Year Growth Revenue Adjusted EBITDA $M Year-over-Year % $M Year-over-Year % 4Q 2020 $1,462 $151 Price 49 3% 49 33% Volume/Mix 229 16% 43 28% Savings Net of Inflation - - (35) (23%) Prior Year TemporaryCost Actions - - (18) (12%) Aluminum Price 396 27% (15) (10%) FX/Other 2 - - - 4Q 2021 $2,138 46% $175 16% 9 Reflects BCS segment that does not pass through aluminum price, but offsets metal cost through increases in fixed price contracts.See appendix for non-GAAP financial measure reconciliations. 1

4Q 2021 Year-over-Year Segment Results Revenue Segment Adjusted EBITDA Drivers ($M) 4Q20 4Q21 4Q20 Price Volume/Mix Savings Net of Inflation Prior Year Temporary Cost Actions Other/ Aluminum 4Q21 Rolled Products $1,141 $1,790 $139 25 44 (35) (11) - $162 Year-over-year growth in all end markets and price benefits more than offset negative impacts from inflation and 2020 temporary cost actions Year-over-year change 57%24% Organic 17% Building and Construction Systems $236 $261 $30 23 (1) (1) (3) (15) $33 Price increases more than offset lower volume, inflation, and 2020 temporary cost actionsOther reflects increase of aluminum price that is not passed through but offset over time through price increases Year-over-year change 11%7% Organic 10% Extrusions $85 $87 ($4) 1 - (3) (3) - ($9) Negative impacts from inflation and 2020 temporary cost actions Year-over-year change 2%(12%) Organic (125%) 10 See appendix for non-GAAP financial measure reconciliations.

Rising Aluminum Prices and Manufacturing Challenges Pressured Net Working Capital 11 As of: Dec 31,2020 Sept 30,2021 Dec 31,2021 ($M) Receivables from customers andOther receivables $759 $1,074 $1,148 Inventories 1,043 1,525 1,630 Accounts payable, trade 1,106 1,489 1,718 Net working capital $696 $1,110 $1,060 ($/metric ton) LME Aluminum price (cash) $1,978 $2,851 $2,806 Midwest premium (cash) 323 768 665 Total Midwest transaction price $2,301 $3,619 $3,471 Metal Price, Volume Growth, and Operational Changes Driving Working Capital Pressure Year-end inventory increased ~$60 million more than expected due to:Lower automotive pulls and pivot to industrial driving higher inventories for both marketsAccelerated ramp up in packaging productionBrief fire at rolling facility that temporarily disrupted productionAluminum price increased ~$1,200 per metric ton throughout 2021 resulting in ~$250 million of working capital pressure YE2020$2,301 3Q21 End$3,619 LME + Midwest Premium (Midwest Transaction Price)2020-Present ($/metric ton)1 2Q21 End$3,160 1Q21 End$2,681 +51% 4Q21 End$3,471 2/16/22$4,078 Bloomberg.

Rolled Products Segment Resumed Growth Trajectory in 2021 12 The Rolled Products segment resumed Adjusted EBITDA growth in 2021 after the pandemic impacted 2020 and is already up from pre-pandemic levels Higher volumes in all markets but aerospace drove 2021 growth and 2022 is expected to see organic revenue increases in all markets led by packaging and aerospace Volume and Adjusted EBITDA growth expected to continue in 2022 and beyond with packaging ramp up and capital investments in Lancaster hot mill and Davenport casting pit Rolled Products Segment Adjusted EBITDA2018 – 2021 ($M) +24%

Automotive Volumes Continue to Outperform Vehicle Production 13 Automotive Volume Growth vs.North American Light Vehicle Production 1Q21 2Q21 3Q21 4Q21 2021 ArconicAutomotive Volumes1 year over year +10% +110% -10% +18% +18% North AmericanVehicle Production2 year over year -4% +131% -27% -15% 0% North America rolled products automotive volumes (kmt).Wards Intelligence. North American Platform Production. Outperformance driven by industry-wide light-weighting and strong positions on aluminum-intensive pickup trucks and SUVs that grow faster than the market North American Light Vehicle Production (M vehicles)1

Captured Content on 23 Auto or Light Commercial Programs in 2021 14 Revenue related to electric vehicles expected to nearly double in 2022 year over year to more than $250 million globally GMC Hummer EV Pickup GM BrightDrop Electric Delivery Van Depending on timing, 2021 content wins contribute to production volumes starting in 2H21 or 2022 Ford Bronco Wagoneer Toyota Tacoma 8 Pickup Trucks 7 Full Electric Vehicles 9 SUVs/Crossovers 2 Electric Last-Mile Delivery Vehicles

Record Domestic Production Driving Buoyant Market Conditions 15 North American shipments of sheet and plate products have exceeded pre-pandemic levels driven by economic recovery and aluminum share gain2019 represents prior all-time high for shipments from U.S. and Canadian producers Aluminum Association, U.S. and Canadian Producer Shipments of Sheet and Plate, January 13, 2022.CRU Group, Aluminum Product Monitor, January 2022. Midpoint of reported range. All conversion fees refer to purchases of material on spot basis as of the month of delivery. The year-over-year benefit to Arconic conversion revenue varies due to timing of contract vs. spot sales and implementation of alloy metal cost surcharges U.S. + Canada Gross Shipments ofAluminum Sheet and Plate 2018 – 2021 (B lbs)1 5052 Alloy Conversion Fees 1Q 2020 – 4Q 2021($/lbs)2 +58% Magnesium surcharge impact +11%

Packaging Market Strength Driving Can Sheet Demand Globally 16 The U.S. packaging industry is short on both domestic can sheet and cans in totalIn 2021, over 13 billion cans have been imported to the U.S. through November, which is on pace for an increase of more than 500% from the same period in 2019More than 440 million lbs of can sheet have been imported in 2021 through NovemberSix can manufacturers have announced a total of at least 30 new can lines to be installed in the U.S. over the next 3-5 yearsThe additional can lines represent incremental can sheet demand of ~1.2 billion lbs over the next four years North American Can Sheet Market Demand1 (B lbs) Harbor Aluminum, US Aluminum Rolled Products Intelligence Report, updated December 2021.Can Maker Magazine, Rusal plans for huge growth in Russian beverage can demand, December 3, 2021. +5% CAGR Can making capacity in Russia is expected to increase by at least 50% from 2021 to 2025. New capacity has also been installed in Kazakhstan and further investments are expected in other neighboring states

Ground TransportationOrganic revenue growth of ~10-15% expected year-over-year as automotive consumer and commercial transportation demand remains strong and new content wins drive growthAutomotive OEMs anticipate improvement in semiconductor supply throughout 2022 Industrial Products and OtherOrganic revenue growth of ~5-10% expected year over year, supported by a strong global market and improved pricing driven by trade actions and preference for domestic supply across regions Impacted year over year by the shift of industrial back to automotive in North America Building and ConstructionOrganic revenue of ~5-10% expected year over year despite persisting supply chain challenges in global non-residential markets PackagingOrganic revenue growth of ~40-45% expected year over year as North American volumes ramp through 1H 2022 Can sheet demand continues to be strong as can making capacity grows around the world fueled by consumer preference and recyclability of aluminum packaging AerospaceOrganic revenue growth of ~25-35% expected year over year with ramping aerospace OEM build rates through 2022 and the end of supply chain destocking 2022 Organic Revenue Expected to Grow in All End Markets 2022 Organic RevenueYear-over-Year Trajectory 2022 Outlook 17

EBITDA Growth and Lower Cash Obligations Drive Value Proposition 18 Compared with 2019 Adjusted EBITDA. Compared to December 31, 2019 utilization levels.Net under funded liability after 24% tax effect.Includes $250 million U.S. pension funding associated with $1 billion annuitization transaction. EBITDA GROWTH1 OPPORTUNITY RUN RATE EXPECTED BY 600M lbs Latent Capacity2Permanent Cost OutProductivity Measures ~$300M Latent rolling capacity including North American packaging to be fully ramped by end of 2Q 2022$70M-$80M productivity measures completeLabor disruption and input cost inflation are being actively addressed by pricing actions 2H 2022  On Track ~$75M Increased hot mill, casting, and recycling capacity at Lancaster and Davenport facilitiesCurrently underway and will be funded by existing capital expenditure budget YE 2023  On Track Lancaster and Davenport Upgrades Combined Pension Contributions, OPEB, andEnvironmental Payments ($M) $332MReduction BACKGROUND Disciplined capital allocation has de-risked the balance sheet and created a step change in free cash flow generation beginning in 2022 ($B) 4/1/2020 12/31/2021 Percent Change Gross Pension and OPEB Liability $5.2 $3.3 (37%) Net After-Tax Pension and OPEB Liability3 $1.5 $0.9 (40%) PHASE1 PHASE2 4 Balance Sheet De-Risking Since Separation

Sustainability as a Factor Throughout Arconic Value Chain 19 Rolled Products SegmentScrap Utilization and Sourcing +9% increase frompre-pandemic levels Externally sourced scrap increased 9% in 2021 from pre-pandemic levels while Rolled Products volumes increased 1% in the same period Returning to Highly Recyclable and Scrap-Intensive Aluminum Packaging in North America Growing Content on Consumer and Commercial Electric Vehicles INPUT OUTPUT

2022 Outlook and Key Themes 20 ($M) Updated Drivers Revenue1 $9,900 - $10,300 Growth across all five end markets Adjusted EBITDA2 $800 - $850 Volume growth, price, and productivity measures Free cash flow2,3 ~$250 Reduced legacy obligations and growing profitability Sustainable Double-Digit Earnings GrowthCapture share of improved dynamics in North American packaging marketImprovement in ground transportation and aerospaceInvesting in the FutureHigh-return capacity and cost reduction investments in Lancaster and Davenport driving next phase of Adjusted EBITDA growthImproving Free Cash FlowLegacy obligations down ~$250 million in 2022Approximately $140 million remaining on existing share repurchase authorization Assumes average annual LME aluminum price of $3,000/mt and Midwest Premium of $700/mt for the full year.Arconic has not provided reconciliations of any forward-looking non-GAAP financial measures, such as adjusted EBITDA and free cash flow, to the most directly comparable GAAP financial measures because such reconciliations are not available without unreasonable efforts due to the variability and complexity with respect to the charges and other components excluded from the non-GAAP measures, such as the effects of metal price lag, foreign currency movements, gains or losses on sales of assets, taxes, and any future restructuring or impairment charges. These reconciling items are in addition to the inherent variability already included in the GAAP measures, which includes, but is not limited to, price/mix and volume. Arconic believes such reconciliations would imply a degree of precision that would be confusing or misleading to investors. Adjusted EBITDA ($M) $850 +12%-19% +15%

Appendix

22 ($M) Quarter ended December 31, September 30, December 31, 2021 2021 2020 Total Segment Adjusted EBITDA(1) $ 186 $ 182 $ 165 Unallocated amounts: Corporate expenses(2) (7) (7) (9) Stock-based compensation expense (7) (8) (5) Metal price lag(3) 11 (21) 3 Provision for depreciation and amortization (67) (61) (60) Impairment of goodwill(4) (65) – – Restructuring and other charges(5) (12) (14) (127) Other(6) (17) (3) (13) Operating income (loss) 22 68 (46) Interest expense (26) (26) (21) Other expenses, net (15) (15) (1) (Provision) Benefit for income taxes (19) (11) 4 Net income attributable to noncontrolling interest – – – Consolidated net (loss) income attributable to Arconic Corporation $ (38) $ 16 $ (64) Reconciliation of Segment Adjusted EBITDA Arconic’s profit or loss measure for its reportable segments is Segment Adjusted EBITDA (Earnings before interest, taxes, depreciation, and amortization). The Company calculates Segment Adjusted EBITDA as Total sales (third-party and intersegment) minus each of (i) Cost of goods sold, (ii) Selling, general administrative, and other expenses, and (iii) Research and development expenses, plus Stock-based compensation expense and Metal price lag (see footnote 3). Arconic’s Segment Adjusted EBITDA may not be comparable to similarly titled measures of other companies’ reportable segments.Total Segment Adjusted EBITDA is the sum of the respective Segment Adjusted EBITDA for each of the Company’s three reportable segments: Rolled Products, Building and Construction Systems, and Extrusions. This amount is being presented for the sole purpose of reconciling Segment Adjusted EBITDA to the Company’s Consolidated net (loss) income.Corporate expenses are composed of general administrative and other expenses of operating the corporate headquarters and other global administrative facilities.Metal price lag represents the financial impact of the timing difference between when aluminum prices included in Sales are recognized and when aluminum purchase prices included in Cost of goods sold are realized. This adjustment aims to remove the effect of the volatility in metal prices and the calculation of this impact considers applicable metal hedging transactions.In the quarter ended December 31, 2021, Arconic completed its annual review of goodwill for impairment for each of its three reporting units: Rolled Products, Building and Construction Systems, and Extrusions. The results of this review indicated that the carrying value of the Extrusions reporting unit’s goodwill was fully impaired. Accordingly, in the quarter ended December 31, 2021, the Company recognized an impairment charge of $65. This impairment was primarily driven by a combination of market-based factors, including delays in aerospace market improvement and significant cost inflation, resulting in increasingly limited margin expansion. The Company had not previously identified any triggering events during 2021 prior to the annual review.In the quarters ended December 31, 2021 and September 30, 2021, Restructuring and other charges includes $11 and $5, respectively, related to the settlement of a portion of the Company’s U.S. defined benefit pension plan obligations as a result of elections by certain plan participants to receive lump-sum benefit payments. In the quarter ended December 31, 2020, Restructuring and other charges includes a $140 settlement charge related to the annuitization of a portion of the Company’s U.S. defined benefit pension plan obligation and a $25 benefit for contingent consideration received related to the October 2018 sale of the Texarkana (Texas) rolling mill.Other includes certain items that impact Cost of goods sold and Selling, general administrative, and other expenses on the Company’s Statement of Consolidated Operations that are not included in Segment Adjusted EBITDA, including those described as “Other special items” (see footnote 5 to the Reconciliation of Total Company Adjusted EBITDA presented elsewhere in this Appendix).

23 ($M) Quarter ended Quarter ended Year ended December 31, 2021 September 30, 2021 June 30, 2021 March 31, 2021 December 31, 2020 September 30, 2020 June 30, 2020 March 31, 2020(1) December 31, 2021 December 31, 2020(1) Net (loss) income attributable to Arconic Corporation $ (38) $ 16 $ (427) $ 52 $ (64) $ 5 $ (96) $ 46 $ (397) $ (109) Add: Net income attributable to noncontrolling interest – – – – – – – – – – Provision (Benefit) for income taxes 19 11 (108) 16 (4) 10 (32) 27 (62) 1 Other expenses, net 15 15 15 22 1 27 16 26 67 70 Interest expense 26 26 25 23 21 22 40 35 100 118 Restructuring and other charges(2) 12 14 597 1 127 3 77 (19) 624 188 Impairment of goodwill(3) 65 – – – – – – – 65 – Provision for depreciation and amortization 67 61 62 63 60 63 68 60 253 251 Stock-based compensation 7 8 5 2 5 6 5 7 22 23 Metal price lag(4) (11) 21 11 (5) (3) 16 10 4 16 27 Other special items(5) 13 (1) 7 5 8 13 11 18 24 50 Adjusted EBITDA $ 175 $ 171 $ 187 $ 179 $ 151 $ 165 $ 99 $ 204 $ 712 $ 619 Sales $ 2,138 $ 1,890 $ 1,801 $ 1,675 $ 1,462 $ 1,415 $ 1,187 $ 1,611 $ 7,504 $ 5,675 Adjusted EBITDA Margin 8.2% 9.0% 10.4% 10.7% 10.3% 11.7% 8.3% 12.7% 9.5% 10.9% Arconic’s definition of Adjusted EBITDA (Earnings before interest, taxes, depreciation, and amortization) is net margin plus an add-back for the following items: Provision for depreciation and amortization; Stock-based compensation; Metal price lag (see footnote 4); and Other special items. Net margin is equivalent to Sales minus the following items: Cost of goods sold; Selling, general administrative, and other expenses; Research and development expenses; and Provision for depreciation and amortization. Special items are composed of restructuring and other charges, discrete income tax items, and other items as deemed appropriate by management. There can be no assurances that additional special items will not occur in future periods. Adjusted EBITDA is a non-GAAP financial measure. Management believes that this measure is meaningful to investors because Adjusted EBITDA provides additional information with respect to Arconic’s operating performance and the Company’s ability to meet its financial obligations. The Adjusted EBITDA presented may not be comparable to similarly titled measures of other companies.Prior to April 1, 2020, Arconic’s financial statements were prepared on a carve-out basis, as the underlying operations of the Company were previously consolidated as part of Arconic’s former parent company’s financial statements. Accordingly, the Company’s results of operations for the quarter ended March 31, 2020 were prepared on such basis. The carve-out financial statements of Arconic are not necessarily indicative of the Company’s consolidated results of operations had it been a standalone company during the referenced period. See the Combined Financial Statements included in each of (i) Exhibit 99.1 to the Company’s Form 10 Registration Statement (filed on February 7, 2020), (ii) the Company’s Annual Report on Form 10-K for the year ended December 31, 2019 (filed on March 30, 2020), and (iii) the Company’s Quarterly Report on Form 10-Q for the period ended March 31, 2020 (filed on May 18, 2020), for additional information. Reconciliation of Total Company Adjusted EBITDA

In the year ended December 31, 2021, Restructuring and other charges includes $584 related to the settlement of a portion of the Company’s U.S. defined benefit pension plan obligations as a result of the purchase of a group annuity contract ($549-2Q21) and elections by certain plan participants to receive lump-sum benefit payments ($11-4Q21, $5-3Q21, $19-2Q21). In the year ended December 31, 2020, Restructuring and other charges includes a $198 settlement charge related to the annuitizations of a portion of the Company’s U.S. ($140-4Q20) and U.K. ($3-3Q20, $55-2Q20) defined benefit pension plan obligations and a $25 benefit (4Q20) for contingent consideration received related to the October 2018 sale of the Texarkana (Texas) rolling mill.In the quarter ended December 31, 2021, Arconic completed its annual review of goodwill for impairment for each of its three reporting units: Rolled Products, Building and Construction Systems, and Extrusions. The results of this review indicated that the carrying value of the Extrusions reporting unit’s goodwill was fully impaired. Accordingly, in the quarter ended December 31, 2021, the Company recognized an impairment charge of $65. This impairment was primarily driven by a combination of market-based factors, including delays in aerospace market improvement and significant cost inflation, resulting in increasingly limited margin expansion. The Company had not previously identified any triggering events during 2021 prior to the annual review.Metal price lag represents the financial impact of the timing difference between when aluminum prices included in Sales are recognized and when aluminum purchase prices included in Cost of goods sold are realized. This adjustment aims to remove the effect of the volatility in metal prices and the calculation of this impact considers applicable metal hedging transactions.Other special items include the following:• for the quarter ended December 31, 2021, costs related to several legal matters, including Grenfell Tower ($4) and other ($2), costs related to both an equipment fire and packaging restart at the Tennessee rolling mill ($5), and other items ($2);• for the quarter ended September 30, 2021, a partial reversal of a previously established reserve related to the Grasse River environmental remediation matter ($11), costs related to several legal matters ($7), and other items ($3);• for the quarter ended June 30, 2021, a write-down of inventory related to the idling of both the remaining operations at the Chandler (Arizona) extrusions facility and the casthouse operations at the Lafayette (Indiana) extrusions facility ($4) and costs related to several legal matters ($3);• for the quarter ended March 31, 2021, costs related to several legal matters, including Grenfell Tower ($4) and other ($1);• for the quarter ended December 31, 2020, costs related to several legal matters ($5) and other items ($3);• for the quarter ended September 30, 2020, costs related to several legal matters, including Grenfell Tower ($4) and other ($2), a write-down of inventory related to the idling of the casthouse operations at the Chandler (Arizona) extrusions facility ($5), and other items ($2);• for the quarter ended June 30, 2020, costs related to several legal matters, including a customer settlement ($5), Grenfell Tower ($3), and other ($3); and• for the quarter ended March 31, 2020, an allocation of costs incurred by Arconic Corporation’s former parent company associated with the April 1, 2020 separation of Arconic Inc. into two standalone publicly-traded companies. 24 Reconciliation of Total Company Adjusted EBITDA (cont’d)

25 Adjusted EBITDA to Adjusted Free Cash Flow Bridge ($M) Quarter ended Quarter ended December 31, 2021 September 30, 2021 June 30, 2021 March 31, 2021 December 31, 2020 September 30, 2020 June 30, 2020 Adjusted EBITDA(1) $175 $171 $187 $179 $151 $165 $99 Change in working capital(2) 11 (126) (51) (230) 130 185 1 Cash payments for: Environmental remediation (40) (23) (4) (17) (28) (33) (4) Pension contributions(3) (2) (3) (252) (201) (227) – (12) Other postretirement benefits (10) (9) (10) (10) (14) (14) (13) Restructuring actions (4) (2) (4) (5) (9) (5) (9) Interest (22) (28) (22) (18) (21) (19) (5) Income taxes (10) (4) (6) (6) (11) (3) (7) Capital expenditures (61) (51) (44) (28) (37) (39) (29) Other (2) (18) (5) 14 17 (36) (12) Free Cash Flow(4) $35 $(93) $(211) $(322) $(49) $201 $9 Add-back cash payments for: Environmental remediation 40 23 4 17 28 33 4 Pension benefits(5) 4 5 254 203 229 2 14 Other postretirement benefits 10 9 10 10 14 14 13 Adjusted Free Cash Flow(6) $89 $(56) $57 $(92) $222 $250 $40 Adjusted EBITDA is a non-GAAP financial measure. See Reconciliation of Total Company Adjusted EBITDA presented elsewhere in this Appendix for (i) Arconic’s definition of Adjusted EBITDA, (ii) management’s rationale for the presentation of this non-GAAP measure, and (iii) a reconciliation of this non-GAAP measure to the most directly comparable GAAP measure. Arconic’s definition of working capital is Receivables plus Inventories less Accounts payable, trade.In January 2021, the Company contributed a total of $200 to its two funded U.S. defined benefit pension plans, comprised of the estimated minimum required funding for 2021 of $183 and an additional $17. In April 2021, the Company contributed a total of $250 to its two funded U.S. defined benefit pension plans to maintain the funding level of the remaining plan obligations not transferred under a group annuity contract.Arconic’s definition of Free Cash Flow is Cash from operations less capital expenditures. Free Cash Flow is a non-GAAP financial measure. Management believes that this measure is meaningful to investors because management reviews cash flows generated from operations after taking into consideration capital expenditures, which are both necessary to maintain and expand the Company’s asset base and expected to generate future cash flows from operations. It is important to note that Free Cash Flow does not represent the residual cash flow available for discretionary expenditures since other non-discretionary expenditures, such as mandatory debt service requirements, are not deducted from the measure. 4Q 2021: Cash used for operations of $96 less capital expenditures of $61 = free cash flow of $35 3Q 2021: Cash used for operations of $(42) less capital expenditures of $51 = free cash flow of $(93)2Q 2021: Cash used for operations of $(167) less capital expenditures of $44 = free cash flow of $(211) 1Q 2021: Cash used for operations of $(294) less capital expenditures of $28 = free cash flow of $(322)4Q 2020: Cash used for operations of $(12) less capital expenditures of $37 = free cash flow of $(49) 3Q 2020: Cash provided from operations of $240 less capital expenditures of $39 = free cash flow of $2012Q 2020: Cash provided from operations of $38 less capital expenditures of $29 = free cash flow of $9Pension benefits are comprised of contributions to funded defined benefit plans and benefit payments to participants in unfunded defined benefit plans.Adjusted Free Cash Flow is a non-GAAP financial measure. Management believes that this measure is meaningful to investors because Adjusted Free Cash Flow provides an incremental view of the Company’s cash performance by excluding payments related to legacy liabilities.

Reconciliation of Organic Revenue by End Market 26 Organic revenue is a non-GAAP financial measure. Management believes this measure is meaningful to investors as it presents revenue on a comparable basis for all periods presented due to the impact of changes in aluminum prices and foreign currency fluctuations relative to the prior year period. ($M) Ground Building and Industrial and 4Q20 Transportation Construction Aerospace Packaging Other Total Revenue $545 $280 $132 $202 $303 $1,462 4Q21 Revenue $797 $333 $180 $397 $431 $2,138 Less: Aluminum price impact 187 29 22 84 74 396 Foreign currency impact 2 (2) 1 1 1 3 Organic Revenue $608 $306 $157 $312 $356 $1,739 ($M) Ground Building and Industrial and 2020 Transportation Construction Aerospace Packaging Other Total Revenue $1,849 $1,117 $820 $773 $1,120 $5,679 Less: Sales – Itapissuma 1 1 7 2 11 Sales – Changwon 0 8 8 Organic Revenue $1,848 $1,116 $820 $766 $1,110 $5,660 2021 Revenue $2,799 $1,255 $631 $1,217 $1,602 $7,504 Less: Aluminum price impact 492 68 58 262 182 1,062 Foreign currency impact 15 17 0 (1) 9 40 Organic Revenue $2,292 $1,170 $573 $956 $1,411 $6,402

Reconciliation of Organic Revenue by Segment 27 Organic revenue is a non-GAAP financial measure. Management believes this measure is meaningful to investors as it presents revenue on a comparable basis for all periods presented due to the impact of changes in aluminum prices and foreign currency fluctuations relative to the prior year period. ($M) Quarter Ended Dec 31, 2020 2021 Arconic Corporation Revenue $1,462 $2,138 Less: Aluminum price impact n/a 396 Foreign currency impact n/a 3 Organic Revenue $1,462 $1,739 Rolled Products Revenue $1,141 $1,790 Less: Aluminum price impact n/a 374 Foreign currency impact n/a 5 Organic Revenue $1,141 $1,411 Building and Construction Systems Revenue $236 $261 Less: Aluminum price impact n/a 10 Foreign currency impact n/a (2) Organic Revenue $236 $253 Extrusions Revenue $85 $87 Less: Aluminum price impact n/a 12 Foreign currency impact n/a 0 Organic Revenue $85 $75 ($M) Year Ended Dec 31, 2020 2021 Arconic Corporation Revenue $5,679 $7,504 Less: Sales - Itapissuma 11 - Sales - Changwon 8 - Aluminum price impact n/a 1,062 Foreign currency impact n/a 40 Organic Revenue $5,660 $6,402 Rolled Products Revenue $4,335 $6,187 Less: Sales - Itapissuma 11 - Aluminum price impact n/a 1,014 Foreign currency impact n/a 20 Organic Revenue $4,324 $5,153 Building and Construction Systems Revenue $963 $1,011 Less: Aluminum price impact n/a 21 Foreign currency impact n/a 20 Organic Revenue $963 $970 Extrusions Revenue $381 $306 Less: Sales - Changwon 8 - Aluminum price impact n/a 27 Foreign currency impact n/a 0 Organic Revenue $373 $279

Legacy Pension and OPEB Cash Obligations Down Substantially 28 Annualized Asset Return 12/31/2021 12/31/2022 12/31/2023 12/31/2024 4% ($569M) ($563M) ($558M) ($554M) 6% ($558M) ($530M) ($491M) ($453M) 8% ($588M) ($496M) ($422M) ($353M) U.S. Qualified Pension Contributions2 $450M3 $22M $30M-$32M $21M-$31M Other Pension Contributions and Benefit Payments $8M ~$10M ~$10M ~$10M OPEB Benefit Payments $39M $29M $28M $27M Actual and Estimated U.S. Pension Plan Funded Status1 Source: Buck & Mercer Investments, LLC.Discount rates based on the 12/31/2021 yield curve, resulting in a weighted average discount rate of 2.88%.Contributions assume asset returns of 4%-8% and minimum required contributions are paid when due in all years; all contributions payable during the year are made on the last day of the year; no potential risk management activity, such as annuitizations, are considered.Accelerated $200 million annual funding in January and made $250 million contribution in April related to partial U.S. pension annuitization All other assumptions, methods, plan provisions, and data are the same as those used for the December 31, 2021 financial disclosures. Actual and Expected Annual Cash Contributions and Benefit Payments