ATI Inc.

Current Guidance Prior Guidance Q4 2025 Full Year 2025 Full Year 2025 Adjusted EBITDA** $221M - $231M $848M - $858M $810M - $840M Adjusted Earnings Per Share** $0.84 - $0.90 $3.15 - $3.21 $2.90 - $3.07 Adjusted Free Cash Flow** $330M - $370M $270M - $350M Capital expenditures $260M - $280M $260M - $280M * Reconciliations of the reported information under accounting principles generally accepted in the United States (GAAP) to non-GAAP financial measures are included in accompanying financial tables.

SEC original ↗ATI Inc. — Earnings release (8-K exhibit)EX-99Oct 28, 2025

During the third quarter, we repurchased $150 million of our stock, bringing our total 2025 share repurchases to $470 million.

SEC original ↗ATI Inc. — Earnings release (8-K exhibit)EX-99Oct 28, 2025

Capital expenditures for the third quarter 2025 were $63 million.

SEC original ↗ATI Inc. — Earnings release (8-K exhibit)EX-99Oct 28, 2025

In the third quarter 2025, the Company repurchased $150 million of its common stock at an average price per share of $76.07, retiring approximately 2.0 million shares.

SEC original ↗ATI Inc. — Earnings release (8-K exhibit)EX-99Oct 28, 2025

As of the end of the third quarter 2025, total share repurchase authorization remaining was $120 million.

SEC original ↗ATI Inc. — Earnings release (8-K exhibit)EX-99Oct 28, 2025

The Company defines special items as significant non-recurring or non-operational charges or credits, restructuring and other charges credits, gains or losses from the sale of accounts receivable, strike related costs, goodwill and long-lived asset impairments, debt extinguishment charges, pension remeasurement gains and losses, other postretirement pension curtailment and settlement gains and losses, and gains or losses on sales of businesses.

SEC original ↗ATI Inc. — Earnings release (8-K exhibit)EX-99Oct 28, 2025

Management believes presenting these non-GAAP financial measures is useful to investors because it (1) provides investors with meaningful supplemental information regarding financial and operating performance by excluding certain items management believes do not directly impact the Company s core operations, (2) permits investors to view performance using the same metrics that management uses to forecast, evaluate performance, and make operating and strategic decisions, and (3) provides additional information useful to investors on a period-to-period consistent basis that are commonly used to analyze companies operating performance.

SEC original ↗ATI Inc. — Earnings release (8-K exhibit)EX-99Oct 28, 2025

qualified defined benefit pension plan Cash provided by operating activities excluding pension contributions 229.5 24.0 298.5 26.3 Cash used in investing activities (29.8) (61.1) (149.0) (178.2) Adjusted Free Cash Flow $ 199.7 $ (37.1) $ 149.5 $ (151.9) 14 Managed Working Capital As part of managing the performance of our business, we focus on Managed working capital, a non-GAAP financial measure that we define as gross accounts receivable, short-term contract assets and gross inventories, excluding the effects of reserves for uncollectible accounts receivable and inventory valuation reserves, less accounts payable and short-term contract liabilities.

SEC original ↗ATI Inc. — Earnings release (8-K exhibit)EX-99Oct 28, 2025

Management believes this non-GAAP financial measure focuses on the assets and liabilities most closely attributable to our core operations, allowing Management to quantify and evaluate the asset intensity of our business.

SEC original ↗ATI Inc. — Earnings release (8-K exhibit)EX-99Oct 28, 2025

Derivative Financial Instruments and Hedging As part of its risk management strategy, the Company, from time-to-time, utilizes derivative financial instruments to manage its exposure to changes in raw material prices, energy costs, foreign currencies, and interest rates.

SEC original ↗ATI Inc. — 10-Q Quarterly report10-QAug 6, 2026

Accounting standards established three levels of a fair value hierarchy that prioritize the inputs used to measure fair value.

SEC original ↗ATI Inc. — 10-Q Quarterly report10-QAug 6, 2026

Forward-looking statements, which may contain such words as anticipates, believes, estimates, expects, would, should, will, will likely result, forecast, outlook, projects, and similar expressions, are based on management s current expectations and include known and unknown risks, uncertainties and other factors, many of which 4 we are unable to predict or control.

SEC original ↗ATI Inc. — Earnings release (8-K exhibit)EX-99Oct 28, 2025

We re solving the world s most difficult challenges through materials science.

SEC original ↗ATI Inc. — Earnings release (8-K exhibit)EX-99Oct 28, 2025

Legal Proceedings 44 Item 1A.

SEC original ↗ATI Inc. — 10-Q Quarterly report10-QAug 6, 2026

EPS — prior quarter passage and this quarter's passage are both cited.

SEC original ↗ATI Inc. — Earnings release (8-K exhibit)EX-99Oct 28, 2025

Revenue — prior quarter passage and this quarter's passage are both cited.

SEC original ↗ATI Inc. — Earnings release (8-K exhibit)EX-99Oct 28, 2025

Adjusted free cash flow — prior quarter passage and this quarter's passage are both cited.

SEC original ↗ATI Inc. — Earnings release (8-K exhibit)EX-99Oct 28, 2025