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Corporate Governance Guidelines

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Corporate Governance Guidelines CORPORATE GOVERNANCE GUIDELINES PURPOSE Arconic Corporation (“Arconic” or the “Company”) is a values-based company. Our values guide our behavior at every level and apply across the Company on a global basis. We expect all directors, officers and other employees to conduct business in accordance with the highest standards of personal and professional integrity, in compliance with all applicable laws, and in compliance with the Company’s Code of Conduct and related policies. Arconic’s Board of Directors (the “Board”) has adopted these Corporate Governance Guidelines (“Guidelines”) to reinforce the Company’s Values and to assist the Board in the proper exercise of its responsibilities. These Guidelines, along with the charters of the principal committees of the Board, and the Company’s Certificate of Incorporation and Bylaws, form the foundation for the governance of Arconic. Guidelines are intended to serve as a flexible framework within which the Board may conduct its business, are not intended to be rigid rules, and should be interpreted in the context of the Boards’ authority and duties to the Company and its stockholders. The Company’s directors and officers are committed to following appropriate practices in corporate governance in order to meet the Company’s responsibilities to its stockholders and to build long-term growth in stockholder value. ROLE OF THE BOARD OF DIRECTORS The role of the Board is to provide direction and oversight. The Board oversees management’s design and development of the Company’s strategy, performance in implementing the Company’s strategy, and conduct of the Company’s business. The day-to-day operation of the Company is the responsibility of management. General Oversight In fulfilling its general oversight role, the Board and its committees perform a number of specific functions, including: • review, approval and monitoring of fundamental business and financial strategies and major corporate actions; • assessment of significant risks facing the Company and review of opportunities to appropriately mitigate the identified risks; • ensuring processes are established to maintain the integrity of the Company, particularly the integrity of its financial statements, compliance with its Code of Conduct and related policies; • selection, evaluation and compensation of the CEO; • providing advice and oversight on the selection, evaluation, development and compensation of executive officers; and • oversight of CEO and executive officer succession planning. In fulfilling its general oversight responsibilities, the Board will review particular transactions, plans, policies, strategies or other significant matters as the Board deems appropriate due to a number of factors, such as: © Arconic Corporation Page 1 of 10 • legal, governance or regulatory requirements or issues; • the materiality of the matter to the Company’s financial performance, risk profile or business; • other significant factors, such as entering into a new line of business, terminating a line of business or otherwise deviating from the Company’s current strategy. Risk Oversight The Board is responsible for oversight of strategic risks to the Company. While the full Board has overall responsibility for risk oversight, it is supported in this function by each of its committees. The Audit and Finance Committee (“Audit Committee”) assists the Board in overseeing and evaluating risks related to the Company’s accounting, reporting and financial practices, including the integrity of its financial statements, the integrity and effectiveness of the Company’s disclosure controls and internal control over financial reporting, compliance with legal and regulatory requirements, cybersecurity issues, the Company’s enterprise risk management program, and the Company’s capital structure, financing transactions, capital plan, share repurchase and dividend programs, policies related to interest rate, commodity and currency hedging, and employee retirement plans. The Compensation and Benefits Committee (“Compensation Committee”) assists the Board by overseeing and evaluating risks related to the Company’s compensation structure and programs, including the formulation, administration and regulatory compliance with respect to compensation matters, and the Company’s talent management strategies. The Governance and Nominating Committee (“Governance Committee”) assists the Board by overseeing and evaluating programs and risks associated with Board organization, membership and structure, and corporate governance. DIRECTOR RESPONSIBILITIES The core responsibility of the directors is to fulfill their duty of care and duty of loyalty. The duty of care mandates that directors exercise their business judgment in making informed decisions and playing an active role in decision-making process. The duty of loyalty mandates that directors act in what they reasonably believe to be the best interests of the Company and its stockholders, and that the best interests of the Company take precedence of other interests possessed by a director. Serving on a board requires significant time and attention on the part of directors. Directors are expected to participate in Board meetings, review relevant materials, serve on Board committees and prepare for meetings and discussions with management. Directors are expected to become and remain well informed about the business, performance, operations and management of the Company; financial, competitive, regulatory and other risks facing the Company; general business and economic trends affecting the Company; and principles and practices of sound corporate governance. Directors are expected to attend the annual meeting of stockholders, Board meetings and meetings of committees on which they serve. In performing their oversight responsibilities, directors rely on the competence and integrity of management in carrying out their responsibilities. It is the responsibility of management to operate the Company in an effective and ethical manner in order to produce value for stockholders. © Arconic Corporation Page 2 of 10 DIRECTOR COMPLIANCE REQUIREMENTS Company Policies and Questionnaires Directors, officers and employees must comply with the Company’s Code of Conduct, these Guidelines and other applicable Company policies. Directors will, at the request of the Chief Legal Officer of the Company, complete the Company’s compliance questionnaire and certify their compliance with applicable Company policies. Confidentiality Directors should not disclose to Arconic any confidential or proprietary information of other companies or entities of which they are or were directors or employees, nor should they disclose to anyone outside of the Company any confidential or proprietary information of the Company. Consistent with their fiduciary and other legal duties to the Company, directors shall protect and hold confidential all Confidential Information obtained through their position as director, absent the express permission of the Board, the Chairperson or the Chief Executive Officer to disclose such information. As used in this policy, "Confidential Information" is all non-public information entrusted to or obtained by a director by reason of his or her position as a director of the Company, including but not limited to: • non-public information that might be of use to competitors or harmful to the Company or its customers if disclosed; • non-public information about the Company's financial condition, business plans or prospects, marketing and sales programs or plans, research and development information, trade secrets, proprietary information, leases, maps, geophysical data, compensation and benefit information, cost and pricing information, information technology, customer contacts, information about the Company’s customers, suppliers, joint venture partners or other third parties under restrictions against disclosure, and information relating to potential transactions, mergers and acquisitions, stock splits and divestitures; and • non-public information respecting the proceedings of the Board and its committees, including information concerning discussions and deliberations between and among directors, officers and employees relating to business issues and decisions involving the Company, either preliminary or final. In keeping with their confidentiality obligations, directors are to avoid the improper use of Confidential Information and therefore: • directors shall only use Confidential Information for the benefit of the Company, and not for personal benefit or the benefit of other persons or entities; and • directors shall not disclose Confidential Information to any other person or entity, either during or after his or her service as a director of the Company, except with the written permission of the Board, the Chairman of the Board or the Chief Executive Officer. © Arconic Corporation Page 3 of 10 Notwithstanding any other provision of this policy, nothing in this policy shall: • prohibit a current or former director from making any disclosure to a third party that is required by applicable law, in which event the director shall give notice to the Board, the Chairperson and/or the Chief Executive Officer a reasonable time in advance of any such anticipated disclosure, consult with the Company on the advisability of taking legally available steps to resist or narrow such disclosure and assist the Company, at the Company’s expense, in taking such steps; • prohibit a current or former director from discussing Confidential Information with
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