As of December 31, 2015 2016 2017 2018 2019 2020 Howmet Aerospace, Inc. $ 100.00  $ 84.78  $ 125.78  $ 78.70  $ 144.47  $ 151.66  S&P 500 Index 100.00  111.96  136.40  130.42  171.49  203.04  S&P 500 Industrials Index 100.00  118.86  143.86  124.74  161.38  179.23  S&P Aerospace & Defense Index 100.00  118.90  168.11  154.54  201.41  169.05  ® ® 29 Table of Contents