FINANCE COSTS - NET (Tables)

6 Months Ended

Jun. 30, 2026


		Three months ended June 30,		Six months ended June 30,
(in millions of U.S. dollars)	Notes	2026	2025	2026	2025
Interest expense on borrowings (A)		(26)	(25)	(52)	(50)
Interest expense on finance leases		(1)	(1)	(1)	(1)
Interest cost on pension and other long-term benefits	13	(2)	(2)	(4)	(4)
Realized and unrealized (losses) / gains on debt derivatives at fair value (B)	12	(4)	(17)	1	(26)
Realized and unrealized exchange gains / (losses) on financing activities - net (B)		4	18	—	28
Other finance expenses		(1)	(3)	(3)	(5)
Capitalized borrowing costs (C)		2	1	3	2
Finance expenses		(28)	(29)	(56)	(56)
Finance costs - net		(28)	(29)	(56)	(56)

(A)For the three months ended June 30, 2026 and 2025, interest expense on borrowings included $23 million and $22 million of interest

expenses related to Constellium SE Senior Notes including amortization of debt issuance costs, respectively. For the six months ended

June 30, 2026 and 2025, interest expense on borrowings included $47 million and $44 million of interest expenses related to

Constellium SE Senior Notes including amortization of debt issuance costs, respectively.

(B) The Group hedges its currency exposure when using external funding sources in a currency other than the functional currency of the

entities being funded. Changes in the fair value of these hedging derivatives are recognized within Finance costs – net in the Interim

Consolidated Income Statement.

(C) Borrowing costs directly attributable to the construction of assets are capitalized. The capitalization rate was 5% for the six months

ended June 30, 2026 and 2025.