• The ArcelorMittal of aluminum, focused on advanced products for industries like aerospace, automotive, and packaging.
• Corning, but for innovative aluminum materials and components used in aircraft, cars, and beverage cans.

• Automotive Structures and Industry Products: Provides advanced aluminum crash management systems, body-in-white components, and industrial extrusions for automotive and general industry applications.
• Packaging and Automotive Rolled Products: Manufactures rolled aluminum sheets for beverage cans, food containers, closures, and automotive body panels.
• Aerospace and Transportation Products: Supplies high-performance aluminum plates and extrusions primarily for the aerospace, defense, and transportation sectors.

Constellium (CSTM) Major Customers

Constellium SE (CSTM) operates primarily on a business-to-business (B2B) model, supplying advanced aluminum products and solutions to other companies across various industries, rather than directly to individuals.

Based on their public disclosures, investor materials, and industry focus, Constellium's major customers and significant end-users are found primarily in the aerospace, packaging, and automotive sectors. While Constellium's customer base is diversified and specific customer names are often not individually disclosed due to competitive reasons, the following are consistently highlighted as major customers or key end-users of their products:

• Aerospace Industry: Constellium is a leading supplier of high-performance aluminum plate and sheet products used in aircraft structures. Their major customers in this sector are the world's leading aircraft manufacturers:
  • Boeing (Symbol: BA)
  • Airbus SE (Symbol: EADSY - OTC; AIR.PA - Euronext Paris)
• Packaging Industry: Constellium supplies aluminum sheet used for the production of beverage cans and food containers. Their primary customers in this segment are major global can manufacturers:
  • Ball Corporation (Symbol: BALL)
  • Crown Holdings, Inc. (Symbol: CCK)
• Automotive Industry: Constellium provides advanced aluminum rolled products and structural components for the automotive sector, including solutions for car body structures, crash management systems, and battery enclosures for electric vehicles. They supply a wide range of leading global automotive manufacturers and their Tier 1 suppliers. While specific OEMs are generally not individually named as major customers due to competitive and confidentiality reasons, Constellium's products are integral to vehicles produced by many major car companies worldwide, particularly in the premium and electric vehicle segments.

Jean-Marc Germain, Chief Executive Officer

Jean-Marc Germain has served as Chief Executive Officer of Constellium since July 2016. Prior to joining Constellium, he was the Chief Executive Officer of Algeco Scotsman, a global business services provider focused on modular space and portable storage. Mr. Germain also held various leadership positions in the aluminum industry with companies such as Pechiney, Alcan, and Novelis, where he served as President for North American operations from 2008 to 2012. Earlier in his career, he worked at Bain & Company and GE Capital.

Jack Guo, Chief Financial Officer

Jack Guo was appointed Chief Financial Officer of Constellium, effective April 1, 2023. He joined Constellium in early 2017 as Vice President Finance and was later promoted to Vice President Business Development and Strategy in September 2017. Before Constellium, Mr. Guo worked at Credit Suisse for twelve years, most recently as a Director in Investment Banking and Capital Markets, primarily covering downstream aluminum activities. He holds a BA of Economics from the University of Chicago and an MBA from Columbia University.

Ingrid Joerg, Executive Vice President, Chief Operating Officer and President, Packaging, Automotive and Rolled Products Business Unit

Ingrid Joerg has been the Chief Operating Officer and an Executive Vice President of Constellium since 2023. She also serves as the President of the Packaging and Automotive Rolled Products business unit. Ms. Joerg joined Constellium in 2015 as president of its Aerospace and Transportation business unit. Previously, she was CEO of Aleris Rolled Products Europe and held leadership positions with Alcoa as president of its European and Latin American Mill Products business unit.

Ryan Jurkovic, Senior Vice President & Chief Human Resources Officer

Ryan Jurkovic serves as the Senior Vice President and Chief Human Resources Officer of Constellium, having joined the company in November 2016. He is responsible for human resources functions across the organization.

Ludovic Piquier, Senior Vice President, Manufacturing Excellence and Chief Technical Officer

Ludovic Piquier is the Senior Vice President, Manufacturing Excellence and Chief Technical Officer at Constellium. He is responsible for manufacturing excellence and technical leadership within the company.

The accelerating demand for and regulatory enforcement of low-carbon or "green" aluminum poses a clear emerging threat. Major automotive, aerospace, and packaging customers are increasingly setting ambitious targets for reducing the embedded carbon in their supply chains. Simultaneously, regulations such as the European Union's Carbon Border Adjustment Mechanism (CBAM) are beginning to impose financial penalties on carbon-intensive imports. If Constellium cannot cost-effectively meet these evolving sustainability standards and customer preferences for low-carbon aluminum, it risks losing market share to competitors who have made significant investments and advancements in producing certified low-carbon aluminum products.

Constellium (symbol: CSTM) operates in key aluminum product markets, primarily serving the aerospace, automotive, and packaging sectors. The addressable markets for these main products and services are estimated globally as follows:

• Aerospace Aluminum Market: The global aerospace aluminum market is projected to reach $11.50 billion by 2029, growing at a Compound Annual Growth Rate (CAGR) of 7.7% from $7.90 billion in 2024. Another estimate for the global "Aluminum for Aerospace Market" indicates a value of $11.29 million in 2024, expected to reach $16.64 million by 2033, with a CAGR of 4.97%. The broader global market for advanced aerospace materials, which includes advanced aluminum alloys, is estimated to increase from $29.2 billion in 2024 to reach $42.9 billion by 2029, at a CAGR of 8.0%.
• Automotive Aluminum Market: The global automotive aluminum market size was valued at $29.68 billion in 2024 and is anticipated to grow to $59.57 billion by 2032, exhibiting a CAGR of 9.1% during the forecast period (2025-2032). Other projections estimate the global automotive aluminum market to reach $60.6 billion by 2033 from $26.2 billion in 2023 (CAGR of 8.7%), and $243.8 billion by 2035 from $66.5 billion in 2024 (CAGR of 12.54%).
• Aluminum Packaging Market: The global aluminum packaging market, encompassing products such as cans, foils, and sheets, reached $99.67 billion in 2024 and is projected to reach $165.51 billion by 2032, growing at a CAGR of 6.66% during the forecast period (2025-2032). Specifically, the global aluminum foil packaging market size is estimated at $29.25 billion in 2025 and is projected to reach $37.22 billion by 2030, with a CAGR of 4.94%.

Constellium (CSTM) is expected to drive future revenue growth over the next 2-3 years through several key areas:

1. Strong Demand in Packaging and Automotive Rolled Products (P&ARP): The company's packaging segment has consistently shown healthy demand in both North American and European markets. Packaging shipments increased by 9% in the first quarter of 2025 and 11% in the third quarter of 2025, highlighting its resilience and strategic importance to Constellium's portfolio. While automotive shipments within P&ARP experienced some softness in late 2024, the overall segment performance is anticipated to contribute positively to future revenue.
2. Recovery and Innovation in Aerospace & Transportation (A&T): Despite previous market headwinds and aerospace OEM destocking, Constellium's management has expressed optimism for a faster recovery in the supply chain. The company's "unmatched" product portfolio and ongoing innovation in high-value products within the aerospace sector are identified as key margin drivers, which are expected to translate into revenue growth as the market normalizes. The A&T segment's adjusted EBITDA notably increased by 67% in the third quarter of 2025.
3. Growth in Automotive Structures & Industry (AS&I): The AS&I segment demonstrated significant growth, reporting an impressive 371% increase in adjusted EBITDA in the third quarter of 2025. This surge was primarily fueled by higher shipments and an improved product mix. This strong performance positions the AS&I segment as a potential contributor to future revenue expansion, despite some earlier shipment declines.
4. Strategic Investments and Operational Improvements: Constellium is focused on executing strategic investments, efficiency programs, and margin improvements to drive growth towards its 2028 targets. A notable example is the recycling center in Neuf-Brisach, which is projected to add EUR35 million to EUR40 million in EBITDA next year. These operational upgrades and innovations in higher-margin product lines are expected to enhance efficiencies and strengthen margin performance, ultimately contributing to revenue growth.
5. Impact of Higher Metal Prices: Although Constellium operates a pass-through business model to minimize exposure to metal price risk, higher metal prices directly contribute to an increase in reported revenue. This was explicitly cited as a factor for increased revenue in the first quarter of 2025 and the third quarter of 2025.

Share Repurchases

• Constellium's Board of Directors approved a share buyback program of up to $300 million in February 2024, extending through the end of 2026.
• As of the end of the third quarter of 2025, the company had repurchased 6.5 million shares for $75 million year-to-date.
• In the first nine months of 2024, Constellium repurchased 3.1 million shares of its stock for $60 million.

Share Issuance

• No significant dollar amount of share issuances over the last 3-5 years was explicitly reported. The number of ordinary shares issued was 146,819,884 as of September 30, 2025 and 2024.

Inbound Investments

• The U.S. Department of Defense invested $23 million to expand the capacity of Constellium's Muscle Shoals facility.

Outbound Investments

• No significant outbound investments in other companies were explicitly reported over the last 3-5 years.

Capital Expenditures

• Capital expenditures are expected to be around $325 million for the full year 2025.
• For the first nine months of 2025, capital expenditures amounted to $203 million.
• These expenditures primarily focus on ongoing plant maintenance and strategic initiatives like the Vision 25 program, including investments to increase capacity for specialized foil in electric vehicle batteries, with a project expected to be completed in 2025, and expansion of the Muscle Shoals facility.