Exhibit 99.2
First Quarter 2022 Earnings Call Tim Myers – Chief Executive OfficerErick Asmussen – Chief Financial Officer May 3, 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; and potential legal liability. 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; (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; (r) the impact of the conflict between Russia and Ukraine on economic conditions in general and on our business and operations; and (s) 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.

1Q 2022 Results Affirm Long-Term Growth Opportunity Growing Profitability Sales of $2.2 billion, up 31% year over year (up 9% organically)Net income of $42 million, or $0.39 per share, compared with $52 million, or $0.46 per share, in 1Q 2021Adjusted EBITDA of $205 million, up 15% year over year, and up 17% from prior quarter Capitalizing on StrongEnd Markets Offsetting inflation with price increases and cost initiativesAdjusting to changes in market conditionsGrowing packaging volumes and strength in aerospace and building and constructionBuilding pent up demand in automotive 4 See appendix for non-GAAP financial measure reconciliations.

1Q 2022 Sales Growth More Than Offset Semi-Conductor Supply Issues 5 Ground TransportationOngoing semiconductor and supply chain issuesIndustrial Products and OtherHistorically strong price and demand conditionsBuilding and ConstructionPrice and mix benefits on top of volumePackagingNorth American volume ramp and strong global demandAerospaceMarket accelerating with OEM production 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. End Market Revenue year- over-year change Organic revenue year-over-year change Revenue sequential change Ground Transportation 14% (10%) (5%) Industrial Products and Other 23% 10% 6% Building and Construction 31% 22% 13% Packaging 81% 37% 0% Aerospace 52% 32% 17% 1Q 2022 Organic Revenue1by End Market

1Q 2022 Financial Highlights Sales of $2.2 billion, up 31% year over year (9% organically)Net income of $42 million, or $0.39 per share, compared with $52 million, or $0.46 per share, in 1Q 2021Adjusted EBITDA of $205 million, up 15% year over year and up 17% from the prior quarterCash used for operations was $103 million and capital expenditures were $95 million, resulting in free cash flow use of $198 million including $63 million of accounts receivable financing outstanding at quarter endRepurchased ~0.5 million shares in 1Q 2022 for ~$16 million. In the first year of the program, repurchased ~5.4 million shares for ~$177 million of the $300 million two-year authorization Adjusted EBITDA 2Q 2020 – 1Q 2022 ($M) 6 See appendix for non-GAAP financial measure reconciliations.

1Q 2022 Adjusted EBITDA Growth Led by Pricing Efforts Revenue Adjusted EBITDA $M Year-over-Year % $M Year-over-Year % 1Q 2021 $1,675 $179 Price 110 7% 110 62% Volume/Mix 48 3% 17 10% Savings Net of Inflation - - (87) (49%) Aluminum Price 370 22% (16) (9%) FX/Other (12) (1%) 2 1% 1Q 2022 $2,191 31% $205 15% 7 Other reflects increase of aluminum price that is not passed through but offset over time through price increases in Building and Construction Systems.See appendix for non-GAAP financial measure reconciliations. 1

1Q 2022 Year-over-Year Segment Results Revenue Segment Adjusted EBITDA Drivers ($M) 1Q 2021 1Q 2022 1Q 2021 Price Volume/Mix Savings Net of Inflation Other/ Aluminum 1Q 2022 Rolled Products $1,364 $1,804 $165 59 11 (61) 2 $176 Price increases and growth across all markets except ground transportation offsetting inflation Year-over-year change 32%7% Organic 7% Building and Construction Systems $236 $291 $28 46 2 (16) (16) $44 Price, mix, and volume benefits more than offsetting inflation Year-over-year change 23%21% Organic 57% Extrusions $75 $97 ($4) 5 4 (10) - ($5) Inflation offset growth in aerospace and ground transportation Year-over-year change 29%21% Organic (25%) 8 Other reflects increase of aluminum price that is not passed through but offset over time through price increases.See appendix for non-GAAP financial measure reconciliations. 1

Rising Aluminum Prices Continue to Pressure Net Working Capital 9 As of: Mar 31,2021 Dec 31,2021 Mar 31,2022 ($M) Receivables from customers andOther receivables $951 $1,148 $1,254 Inventories 1,199 1,630 1,833 Accounts payable, trade 1,216 1,718 1,781 Net working capital $934 $1,060 $1,306 ($/metric ton) LME Aluminum price (cash) $2,213 $2,806 $3,554 Midwest premium (cash) 468 665 $882 Total Midwest transaction price $2,681 $3,471 $4,436 Metal Price and Volume Growth Add Working Capital Pressure to Free Cash Flow OutlookFor each $100/metric ton change in the aluminum price, net working capital is impacted by ~$20 millionAluminum price increased ~$500/metric ton from levels assumed in prior financial guidance resulting in ~$100 million of working capital pressure for 20222 YE2020$2,301 LME + Midwest Premium (Midwest Transaction Price)2020-Present ($/metric ton)1 +65% YE2021 $3,471 3/31/22$4,436 Source: Bloomberg.Updated guidance assumes an average annual LME aluminum price of $3,350/mt and Midwest Premium of $850/mt for the full year, increased from prior assumptions for LME of $3,000/mt and Midwest Premium of $700/mt.

Gross Pension Liability to Decline Substantially as Interest Rates Rise 10 Estimated U.S. Pension Plan Funded Status at YE20221 Source: WTW & Mercer Investments, LLC.The FY2022 discount rate is based on the 12/31/2021 WTW 60th-90th RATELink yield curve resulting in a weighted average discount rate of 2.96%. The impact on the combined gross pension and OPEB liabilities of a change in the weighted average discount rate of 25 basis points would be approximately $100 millionFor the U.S. gross pension liability alone, a change in the weighted average discount rate of 100 basis points would change gross liability by approximately $250 million Annualized Asset Return Weighted Average Discount Rate 0% 2% 4% 2.96%(FY2022) ($605M) ($571M) ($537M) 4.0% ($350M) ($316M) ($282M) 5.0% ($148M) ($115M) ($81M)

Russia Operations Update 11 On March 10th, we announced a pause in new contracts and we are deliberately and actively pursuing additional options for our Russian business while complying with legal and contractual obligationsSafety and well-being of our employees remains highest priorityOperations continue to run at full capacity1Q 2022 sales of $233 million compared with $195 million in 1Q 20211Q 2022 Adjusted EBITDA of $18 million compared with $19 million in 1Q 2021Adjusted EBITDA is expected to be approximately $40-$80 million in 2022, compared with $87 million in 2021, impacted by uncertainty related to supply chain and demand conditionsQuarter end cash of ~$26 million down from ~$79 million at year-end 2021 due to the impact of working capital seasonality, aluminum price, and currency Samara Facility 2021 Revenueby End Market Samara Facility Expected 2022 Revenue Domestic vs. Exports – Prior to Conflict

Ground TransportationOutlook reduced due to semiconductor supply challenges driving ongoing OEM shutdowns Industrial Products and OtherOutlook increased due to strong global demand and pricing environment Building and ConstructionOutlook increased due to better price and mix benefits complemented by growth in North American non-residential construction PackagingNorth American production ramping up to full capacity by end of 2Q 2022Russian supply chain and demand uncertainty increases in the second half AerospaceOutlook increased due to modest acceleration in aerospace market with OEM production growth 2022 Organic Revenue Outlook Led by Packaging and Aerospace 2022 Organic RevenueYear-over-Year Trajectory 2022 Outlook Compared to Prior Guidance 12 Prior Current Prior Current Prior Current Prior Current Prior Current

13 Compared with 2019 Adjusted EBITDA. Compared to December 31, 2019 utilization levels.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 2H 2022  On Track ~$75M YE 2023  On Track Lancaster and Davenport Upgrades Combined Pension Contributions, OPEB, andEnvironmental Payments ($M) $332MReduction PHASE1 PHASE2 3 Longer Term Plans to be Presented at Investor Day on June 6, 2022 Free Cash Flow Growth Creates Organic Investment Opportunities

Revised 2022 Outlook and Key Themes 14 ($M) Prior Updated Drivers Revenue1 $9,900 - $10,300 $10,100 - $10,500 Metal price and volume growth Adjusted EBITDA2 $800 - $850 $820 - $870 High return organic growth Free cash flow1,2 ~$250 ~$125 Working capital pressure from increased metal price Sustainable Double-Digit Earnings GrowthNorth American packaging ramp benefiting from strong global demand dynamicsAerospace recovery and building and construction pricing efforts driving near-term performanceInvesting in the FutureLancaster and Davenport upgrades on track for trials by year end and run rate production in 2023Further opportunities to invest in growthApproximately $123 million remaining on existing share repurchase authorization Assumes average annual LME aluminum price of $3,350/mt and Midwest Premium of $850/mt for the full year. Assumes no factored receivables.Arconic has not provided reconciliations of any forward-looking non-GAAP financial measures, such as adjusted EBITDA and free cash flow, to the most directly comparable GAAP financial measures because such reconciliations are not available without unreasonable efforts due to the variability and complexity with respect to the charges and other components excluded from the non-GAAP measures, such as the effects of metal price lag, foreign currency movements, gains or losses on sales of assets, taxes, and any future restructuring or impairment charges. These reconciling items are in addition to the inherent variability already included in the GAAP measures, which includes, but is not limited to, price/mix and volume. Arconic believes such reconciliations would imply a degree of precision that would be confusing or misleading to investors. Adjusted EBITDA ($M) +15%-22% +15% $870

Appendix

16 ($M) Quarter ended March 31, December 31, March 31, 2022 2021 2021 Total Segment Adjusted EBITDA(1) $ 215 $ 186 $ 189 Unallocated amounts: Corporate expenses(2) (9) (7) (9) Stock-based compensation expense (5) (7) (2) Metal price lag(3) (36) 11 5 Unrealized gains on mark-to-market hedging instruments and derivatives 2 – – Provision for depreciation and amortization (60) (67) (63) Impairment of goodwill(4) – (65) – Restructuring and other charges(5) (5) (12) (1) Other(6) (6) (17) (6) Operating income 96 22 113 Interest expense (25) (26) (23) Other expenses, net (17) (15) (22) Provision for income taxes (12) (19) (16) Net income attributable to noncontrolling interest – – – Consolidated net income (loss) attributable to Arconic Corporation $ 42 $ (38) $ 52 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 each of (i) Stock-based compensation expense, (ii) Metal price lag (see footnote 3), and (iii) Unrealized (gains) losses on mark-to-market hedging instruments and derivatives (see below). Arconic’s Segment Adjusted EBITDA may not be comparable to similarly titled measures of other companies’ reportable segments.Effective in the first quarter of 2022, management modified the Company’s definition of Segment Adjusted EBITDA to exclude the impact of unrealized gains and losses on mark-to-market hedging instruments and derivatives. This modification was deemed appropriate as Arconic is considering entering into additional hedging instruments in future reporting periods if favorable conditions exist to mitigate cost inflation. Certain of these instruments may not qualify for hedge accounting resulting in unrealized gains and losses being recorded directly to Sales or Cost of goods sold, as appropriate (i.e., mark-to-market). Additionally, this change was also applied to derivatives that do not qualify for hedge accounting for consistency purposes. The Company does not have a regular practice of entering into contracts that are treated as derivatives for accounting purposes. Ultimately, this change was made to maintain the transparency and visibility of the underlying operating performance of Arconic’s reportable segments. Prior to this change, the Company had a limited number of hedging instruments and derivatives that did not qualify for hedge accounting, the unrealized impact of which was not material to Arconic’s Segment Adjusted EBITDA performance measure. Accordingly, prior period information presented was not recast to reflect this change.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 income (loss).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 quarter ended December 31, 2021, Restructuring and other charges includes $11 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.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).

17 ($M) Quarter ended Quarter ended March 31, 2022 December 31, 2021 September 30, 2021 June 30, 2021 March 31, 2021 December 31, 2020 September 30, 2020 June 30, 2020 Net (loss) income attributable to Arconic Corporation $ 42 $ (38) $ 16 $ (427) $ 52 $ (64) $ 5 $ (96) Add: Net income attributable to noncontrolling interest – – – – – – – – Provision (Benefit) for income taxes 12 19 11 (108) 16 (4) 10 (32) Other expenses, net 17 15 15 15 22 1 27 16 Interest expense 25 26 26 25 23 21 22 40 Restructuring and other charges(2) 5 12 14 597 1 127 3 77 Impairment of goodwill(3) – 65 – – – – – – Provision for depreciation and amortization 60 67 61 62 63 60 63 68 Stock-based compensation 5 7 8 5 2 5 6 5 Metal price lag(4) 36 (11) 21 11 (5) (3) 16 10 Unrealized gains on mark-to-market hedging instruments and derivatives (2) – – – – – – – Other special items(5) 5 13 (1) 7 5 8 13 11 Adjusted EBITDA $ 205 $ 175 $ 171 $ 187 $ 179 $ 151 $ 165 $ 99 Sales $ 2,191 $ 2,138 $ 1,890 $ 1,801 $ 1,675 $ 1,462 $ 1,415 $ 1,187 Adjusted EBITDA Margin 9.4% 8.2% 9.0% 10.4% 10.7% 10.3% 11.7% 8.3% 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); Unrealized (gains) losses on mark-to-market hedging instruments and derivatives (see below); 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.Effective in the first quarter of 2022, management modified the Company’s definition of Adjusted EBITDA to exclude the impact of unrealized gains and losses on mark-to-market hedging instruments and derivatives. This modification was deemed appropriate as Arconic is considering entering into additional hedging instruments in future reporting periods if favorable conditions exist to mitigate cost inflation. Certain of these instruments may not qualify for hedge accounting resulting in unrealized gains and losses being recorded directly to Sales or Cost of goods sold, as appropriate (i.e., mark-to-market). Additionally, this change was also applied to derivatives that do not qualify for hedge accounting for consistency purposes. The Company does not have a regular practice of entering into contracts that are treated as derivatives for accounting purposes. Ultimately, this change was made to maintain the transparency and visibility of the underlying operating performance of Arconic. Prior to this change, the Company had a limited number of hedging instruments and derivatives that did not qualify for hedge accounting, the unrealized impact of which was not material to Arconic’s Adjusted EBITDA. Accordingly, prior period information presented was not recast to reflect this change. 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 March 31, 2022, costs related to several legal matters ($2), costs related to the packaging restart at the Tennessee rolling mill ($2), and other items ($1);• 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. 18 Reconciliation of Total Company Adjusted EBITDA (cont’d)

19 Adjusted EBITDA to Adjusted Free Cash Flow Bridge ($M) Quarter ended Quarter ended March 31, 2022 December 31, 2021 September 30, 2021 June 30, 2021 March 31,2021 Adjusted EBITDA(1) $205 $175 $171 $187 $179 Change in working capital(2) (200) 11 (126) (51) (230) Cash payments for: Environmental remediation (4) (40) (23) (4) (17) Pension contributions(3) (4) (2) (3) (252) (201) Other postretirement benefits (8) (10) (9) (10) (10) Restructuring actions (2) (4) (2) (4) (5) Interest (29) (22) (28) (22) (18) Income taxes (4) (10) (4) (6) (6) Capital expenditures (95) (61) (51) (44) (28) Other (57) (2) (18) (5) 14 Free Cash Flow(4) $(198) $35 $(93) $(211) $(322) 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. 1Q 2022: Cash used for operations of $(103) less capital expenditures of $95 = free cash flow of $(198) 4Q 2021: Cash used for operations of $96 less capital expenditures of $61 = free cash flow of $353Q 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)

Reconciliation of Organic Revenue by End Market 20 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 1Q21 Transportation Construction Aerospace Packaging Other Total Revenue $662 $287 $138 $219 $369 $1,675 1Q22 Revenue $755 $375 $210 $397 $455 $2,192 Less: Aluminum price impact 161 30 29 99 51 370 Foreign currency impact (2) (6) (1) (2) (1) (12) Organic Revenue $596 $351 $182 $300 $405 $1,834

Reconciliation of Organic Revenue by Segment 21 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 Mar 31, 2021 2022 Arconic Corporation Revenue $1,675 $2,192 Less: Aluminum price impact n/a 370 Foreign currency impact n/a (12) Organic Revenue $1,675 $1,834 Rolled Products Revenue $1,364 $1,804 Less: Aluminum price impact n/a 351 Foreign currency impact n/a (5) Organic Revenue $1,364 $1,458 Building and Construction Systems Revenue $236 $291 Less: Aluminum price impact n/a 12 Foreign currency impact n/a (6) Organic Revenue $236 $285 Extrusions Revenue $75 $97 Less: Aluminum price impact n/a 7 Foreign currency impact n/a (1) Organic Revenue $75 $91

2022 Guidance: EBITDA to Free Cash Flow Walk ($M) 2022E Adjusted EBITDA(1) $820-$870 Pension contributions and other postretirement benefits, net of service cost ~(40) Environmental remediation ~(15) Interest ~(105) Income taxes and other ~(85) Sustaining capital expenditures ~(145) Free cash flow before investment in growth ~$430-$480 Return-seeking capital expenditures ~(145) Working capital use(2) ~(185) Free cash flow(3) ~$125 Midpoint of 2022 Adjusted EBITDA guided range.Working capital use in initial guidance was ~$85M; metal price changes since initial guidance have resulted in ~$100M of incremental working capital use.Assumes average annual LME aluminum price of $3,350/mt and Midwest Premium of $850/mt for the full year. 22

Legacy Pension and OPEB Cash Obligations Down Substantially Annualized Asset Return 12/31/2022 12/31/2023 12/31/2024 0% ($605M) ($653M) ($701M) 2% ($571M) ($587M) ($605M) 4% ($537M) ($520M) ($504M) U.S. Qualified Pension Discretionary Contributions $22M $30M-$32M $21M-$31M Other Pension Contributions and Benefit Payments ~$10M ~$10M ~$10M OPEB Benefit Payments $29M $27M $27M Estimated U.S. Pension Plan Funded Status Source: WTW & Mercer Investments, LLC.Discount rate used to project the pension obligations as of 12/31/2022, 12/31/2023 and 12/31/2024 is based on the 12/31/2021 WTW 60th-90th RATELink yield curve resulting in a weighted average discount rate of 2.96% for the qualified pension plans combined. Assets for the U.S. qualified pension plans were projected assuming 0%, 2% or 4% annualized return reflecting the discretionary contributions shown above and expected benefit payments. No potential risk management activity, such as annuitizations, were reflected Expected Annual Cash Contributions and Benefit Payments 23