Howmet Aerospace (HWM) Risk Factor Changes

Physical risks associated with the climate, such as flooding, extreme winds, and extreme precipitation, expose us to risks of damage of Howmet locations or those of its suppliers or customers.

Howmet owns important intellectual property, including patents, trademarks, copyrights, and trade secrets.

We derive a portion of our revenue from sales to U.S.

The manufacture and sale of our products expose Howmet to potential product liability, personal injury, property damage, and related claims.

Howmet’s results of operations may be negatively affected by the amount of expense Howmet records for its pension and other postretirement benefit plans, by reductions in the fair value of plan assets and by other fac…

As discussed in “Competitive Conditions” in Part I, Item 1 (Business) of this report, the markets for Howmet’s products are highly competitive.

While the Company continually works to safeguard its systems and mitigate potential risks, there is no assurance that such actions will be sufficient to prevent cybersecurity incidents that manipulate or improperly us…

Increased global cybersecurity vulnerabilities, threats, and more sophisticated and targeted cyberattacks pose a risk to the security of our systems and networks, and the confidentiality, availability, and integrity o…

Howmet has long-term contracts with a significant number of its customers, some of which are subject to renewal, renegotiation, or re-pricing at periodic intervals or upon changes in competitive supply conditions.

Howmet’s global operations require qualified and skilled personnel with relevant industry and technical experience.

Geopolitical tensions, conflicts, and wars have impacted, and may in the future impact, global energy markets, leading to high volatility and increasing prices for crude oil, natural gas, and other energy supplies.

ability to compete for new contracts is adversely affected, our financial condition and results of operation could be adversely affected.

and increased remediation costs, any of which could have a material adverse effect on its financial condition and results of operations.

need to operate and grow our business, our business and operations could be adversely impacted.

and liabilities, which may result in a significant charge to shareholders’ equity.

In addition to the Proposed CAM Acquisition, Howmet may continue to pursue other acquisitions and take other strategic actions to grow or streamline its portfolio.

On December 22, 2025, Howmet entered into a purchase agreement with Stanley Black & Decker, pursuant to which the Company has agreed to purchase CAM for a cash purchase price of approximately $1.8 billion, subject to…

Howmet may not realize the expected benefits of acquisitions on the anticipated time frame or at all.

impact our business.