FINANCE COSTS - NET (Tables)

9 Months Ended

Sep. 30, 2026


		Three months ended September 30,		Nine months ended September 30,
(in millions of U.S. dollars)	Notes	2026	2025	2026	2025
Interest expense on borrowings (A)		(24)	(27)	(76)	(77)
Interest expense on finance leases		—	—	(1)	(1)
Interest cost on pension and other long-term benefits	13	(2)	(1)	(6)	(5)
Net loss on settlement of debt		(1)	—	(1)	—
Realized and unrealized (losses) / gains on debt derivatives at fair value (B)	12	2	1	3	(25)
Realized and unrealized exchange gains / (losses) on financing activities - net (B)		—	1	—	29
Other finance expenses		(2)	(2)	(5)	(7)
Capitalized borrowing costs (C)		—	1	3	3
Finance expenses		(27)	(27)	(83)	(83)
Finance costs - net		(27)	(27)	(83)	(83)

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

interest expenses related to Constellium SE Senior Notes including amortization of debt issuance costs, respectively. For the nine

months ended September 30, 2026 and 2025, interest expense on borrowings included $69 million and $67 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) Allocation of Borrowing costs attributable to the construction of assets are capitalized. The capitalization rate was 5% for the nine

months ended September 30, 2026 and 2025.