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UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 6-K REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934 For the month of March 2017 Commission File Number: 001-35931 Constellium N.V. (Translation of registrant’s name into English) Tupolevlaan 41-61, 1119 NW Schiphol-Rijk The Netherlands (Address of principal executive office) Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F: Form 20-F ☒ Form 40-F ☐ Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): Yes ☐ No ☒ Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): Yes ☐ No ☒ INFORMATION CONRTAINED IN THIS FORM 6-K REPORT Attached hereto as Exhibit 99.1 is a copy of the press release of Constellium N.V. (the “Company”), dated March 9, 2017, announcing its financial results for the fourth quarter and fiscal year ended December 31, 2016. Attached hereto as Exhibit 99.2 is a copy of a presentation of the Company, dated March 9, 2017, summarizing its financial results for the fourth quarter and fiscal year ended December 31, 2016. Exhibit Index No. Description 99.1 Press Release issued by Constellium N.V. on March 9, 2017. 99.2 Presentation posted by Constellium N.V. on March 9, 2017. The information contained in Exhibit 99.1 of this Form 6-K is incorporated by reference into any offering circular or registration statement (or into any prospectus that forms a part thereof) filed by Constellium N.V. with the Securities and Exchange Commission. SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. CONSTELLIUM N.V. (Registrant) March 9, 2017 By: Name: Title: /s/ Peter R. Matt Peter R. Matt Chief Financial Officer Exhibit 99.1 Constellium Reports Full-Year and Fourth Quarter 2016 Results Amsterdam – March 9, 2017 – Constellium N.V. (NYSE and Euronext: CSTM) today reported results for the full year and fourth quarter ended December 31, 2016. • Shipments of 1.5 million metric tons in 2016, in line with prior year; Q4 shipments of 344 kt, up 2% from Q4 2015 • Revenue of €4.7 billion in 2016, down 8% primarily due to lower metal prices; Q4 revenue of €1.2 billion, up 3% from Q4 2015 • Net loss of €4 million in 2016 compared to a net loss of €552 million, which included significant asset impairment charges, in 2015; Q4 2016 net loss comparison benefited for similar reasons • Adjusted EBITDA of €377 million in 2016, up 10%; driven by strong performance in P&ARP and AS&I and stable performance in A&T; Q4 Adjusted EBITDA of €81 million, up 8% from Q4 2015 • Refinancing of the Wise Senior Secured Notes with Constellium Senior Notes completed in February 2017 Commenting on 2016 results, Jean-Marc Germain, Constellium’s Chief Executive Officer said: “In 2016 Constellium’s Adjusted EBITDA grew 10% to €377 million reflecting continued operational improvement in our P&ARP segment, strong momentum and higher profitability in our AS&I segment and stable performance in our A&T segment despite evidence of softening aerospace demand at year end. We remain confident in the long-term demand across our targeted end markets and in our ability to continue to grow Adjusted EBITDA in the high single digits annually over the next three years.” Jean-Marc Germain further commented: “2016 concluded our peak capital spending needs and we are focused on realizing the benefits of our investments. Our recent debt refinancing and Wise PIK Notes redemption were steps in the right direction towards addressing our capital structure and increasing our financial flexibility.” • Group Summary Q4 2016 Q4 2015 Var. FY 2016 Shipments (k metric tons) Var. % 344 337 2 Revenue (€ millions) Net income / (loss) (€ millions) Adjusted EBITDA (€ millions) FY 2015 1,470 1,478 (1 %) 4,743 (4 ) 5,153 (552 ) (8 %) n.m. 377 343 10 % 257 232 11 % % 1,161 (20 ) 1,122 (429 ) 3 n.m. % 81 76 8 Adjusted EBITDA per metric ton (€) % 237 224 6 Adjusted EBITDA per metric ton and percentage changes are calculated on unrounded underlying figures. n.m.: not meaningful The difference between the sum of reported segment revenue and the Group revenues includes revenue from certain non-core activities, inter-segment eliminations, and the impact of a €20 million one-time payment related to the renegotiation of a customer agreement, which was recorded in the first quarter of 2016 as a reduction of revenues at the Holdings and Corporate level. The difference between the sum of reported segment Adjusted EBITDA and the Group Adjusted EBITDA is related to Holdings and Corporate and includes approximately €3 million of charges incurred in Q3 in connection with changes in the executive management team (see page 13). For 2016, shipments were in line with the prior period. Revenue for 2016 decreased 8% to €4.7 billion, as a result of lower metal prices. On a like-for-like basis (excluding the impact of movements in London Metal Exchange (LME) metal prices, premiums and currency exchange rates), revenue decreased 4% compared to 2015. The Company reported a net loss for 2016 of €4 million compared to a net loss of €552 million in 2015. The key difference stems from the Wise asset impairment recorded at the end of 2015. Adjusted EBITDA was €377 million in 2016 and Adjusted EBITDA per metric ton was €257, representing an increase of 10% and 11%, respectively, compared to 2015. The higher Adjusted EBITDA and Adjusted EBITDA per ton primarily reflect increased profitability in the AS&I segment and strong operational performance in the P&ARP segment, particularly at Muscle Shoals. Fourth quarter 2016 shipments were up 2% to 344k metric tons. Revenue for the fourth quarter 2016 was €1.2 billion, an increase of 3% from the fourth quarter 2015, primarily due to higher metal prices. The net loss in the fourth quarter 2016 decreased to €20 million from a net loss of €429 million in the fourth quarter of 2015. Adjusted EBITDA was €81 million in the fourth quarter of 2016, an increase of 8% from the fourth quarter last year. The increase in Adjusted EBITDA primarily reflects the factors noted above, partially offset by a less favorable mix in our A&T segment. Adjusted EBITDA per metric ton grew 6% to €237 in the quarter, compared to €224 in the fourth quarter 2015. 2 • Results by Segment • Packaging & Automotive Rolled Products (P&ARP) Q4 2016 Shipments (k metric tons) Revenue (€ millions) Adjusted EBITDA (€ millions) Adjusted EBITDA per metric ton (€) 236 611 43 183 Q4 2015 239 576 37 150 Var. (1 %) 6% 19 % 22 % FY 2016 1,013 2,498 201 199 FY 2015 1,035 2,748 183 176 Var. (2 %) (9 %) 10 % 13 % Adjusted EBITDA per metric ton and percentage changes are calculated on unrounded underlying figures. For 2016, Adjusted EBITDA was €201 million which represented a 10% increase from €183 million in 2015, primarily due to operational improvements, particularly at Muscle Shoals. Adjusted EBITDA per metric ton increased 13% from the prior year to €199. Shipments were slightly lower for the period, reflecting decreases in Packaging rolled products and Specialty and other thin-rolled products, primarily as a result of lower foil stock demand. These decreases were partially offset by an increase of 25kt, or 28%, in Automotive rolled products shipments. Revenue decreased 9% to €2.5 billion, primarily as a result of lower metal prices. Fourth quarter Adjusted EBITDA grew 19% to €43 million and Adjusted EBITDA per metric ton increased by 22% over the same period in the prior year. In addition to the factors noted above, our European operations benefited from improved price and mix during the current quarter. Shipments were in line with the fourth quarter in 2015. Revenue was up 6% in the quarter due to higher metal prices. • Aerospace & Transportation (A&T) Q4 2016 Shipments (k metric tons) Revenue (€ millions) Adjusted EBITDA (€ millions) Adjusted EBITDA per metric ton (€) 59 323 22 384 Q4 2015 50 310 26 509 Var. 16 % 4% (13 %) (25 %) FY 2016 243 1,302 103 425 FY 2015 231 1,355 103 445 Var. 5% (4 %) 0% (4 %) Adjusted EBITDA per metric ton and percentage changes are calculated on unrounded underlying figures. For 2016, Adjusted EBITDA was €103 million in-line with the prior year, while Adjusted EBITDA per ton decreased 4% to €425 from the prior year, as higher volumes and improved costs were offset by a weaker mix. Shipments increased by 5% from the prior year. Revenue decreased 4% for the year primarily reflecting lower average metal prices. The backlog at aerospace manufacturers is high and we remain optimistic regarding the long-term demand in this segment. 3 Fourth quarter Adjusted EBITDA decreased by 13% to €22 million primarily as a result of weaker price and mix due to temporary softening of demand and increased competition in our transportation and industrial end markets. Softening in demand resulted from excess inventory in the aerospace supply chain. Adjusted EBITDA per metric ton decreased by 25% to €384 from the comparable period in 2015. Q4 2016 shipments increased 16% reflecting higher shipments both in Aerospace and Transportation and industry. Revenue increased by 4% to €323 million, primarily as a result of higher shipments and higher metal prices partially offset by mix effects. • Automotive Structures & Industry (AS&I) Q4 2016 Shipments (k metric tons) Revenue (€ millions) Adjusted EBITDA (€ millions) Adjusted EBITDA per metric ton (€) 49 233 21 423 Q4 2015 48 240 18 396 Var. 4% (3 %) 11 % 7% FY 2016 217 1,002 102 471 FY 2015 212 1,047 80 380 Var. 3% (4 %) 27 % 24 % Adjusted EBITDA per metric ton and percentage changes are calculated on unrounded underlying figures. For 2016, Adjusted EBITDA was €102 million, an increase of 27% from the prior year, reflecting increased volumes, and improved price and mix due to solid end market demand in both our automotive and industry end markets. Adjusted EBITDA per ton increased 24% to €471 per ton as compared to the prior period. Shipments increased by 3% and revenue decreased 4% as a result of lower LME partially offset by favorable product mix changes. Fourth quarter 2016 Adjusted EBITDA grew 11% to €21 million for the reasons noted above and Adjusted EBITDA per ton increased 7% as compared to the prior period. Shipments increased 4% to 49kt as compared to last year. Revenue decreased by 3% to €233 million, primarily as a result of product mix changes. • Net Income For 2016, we reported a net loss of €4 million compared to a net loss of €552 million in 2015. The difference is primarily attributable to the asset impairment charges recorded in the fourth quarter of 2015. In addition, in 2016, we generated higher adjusted EBITDA of €377 million (an increase of €34 million from the prior year), recorded unrealized gains on derivative instruments of €71 million (an increase of €91 million from the prior year), and a €20 million gain upon finalization of the post-closing contractual purchase price adjustment for the Wise acquisition, and benefited from a favorable metal price lag of €4 million (an increase of €38 million from the prior year). These favorable items were partially offset by finance costs of €167 million (an increase of €12 million from the prior year), and one-time charges of €20 million in connection with the re-negotiation of terms of a customer contract. 4 The €457 million impairment charge in 2015 included a €400 million impairment charge against the carrying value of the Wise assets and a €49 million impairment related to our Valais facility in Switzerland. The increase in finance costs was driven by increased interest expense as a result of the issuance of our Senior Secured Notes in March 2016. Net income in the fourth quarter 2016 improved to a loss of €20 million from a net loss of €429 million in the fourth quarter of 2015. This change is mainly attributable to asset impairment charges recognized in the fourth quarter 2015. • Earnings per share For 2016, the basic and fully diluted earnings per share were a negative €0.04 versus a negative €5.27 per share for the same period in 2015. Basic and fully diluted losses per share were based on a weighted average number of ordinary shares of 105.5 million and 105.1 million for the years ended December 31, 2016 and 2015, respectively. For the fourth quarter 2016, the basic and fully diluted earnings per share were a negative €0.19 versus a negative €4.07 for both basic and fully diluted earnings per share in the fourth quarter 2015. • Liquidity and cash flow At December 31, 2016, liquidity was €537 million, comprised of €347 million of cash and cash equivalents and €190 million available under our committed lending facilities and factoring arrangements. In 2016, we changed the presentation of interest paid in our cash flow statement. Interest paid, which we previously reported in financing cash flows, is now reported in operating cash flows. In addition, we now report Free cash flow, which we have defined as net cash flows from operating activities less purchases of property, plant and equipment, equity contributions and loans to joint ventures and other investing activities. Net cash from operating activities decreased by €280 million, to an inflow of €88 million in the year ended December 31, 2016 from an inflow of €368 million for the year ended December 31, 2015. This result reflects the decline in operating cash flow resulting from factoring which contributed €137 million in 2016 versus €335 million in 2015, a €31 million year over year increase in interest paid, and 2015 working capital improvements related to the Wise acquisition that were not repeated in 2016. Cash flows used in investing activities decreased by €357 million to €365 million for the year ended December 31, 2016 from €722 million for the year ended December 31, 2015. In 2015, cash flows used in investing activities included €348 million attributable to the Wise acquisition. 5 For 2016, Free cash flow was a negative €293 million compared to a negative €10 million in 2015, reflecting a €280 million decrease in cash flow from operating activities. Capital expenditures were €355 million in 2016 as compared to €350 million in 2015. Net cash from financing activities was €145 million for the year ended December 31, 2016, a €310 million change from €165 million of cash used in financing activities for the year ended December 31, 2015. In 2016, the €375 million of proceeds from the issuance of the March 2016 Senior Secured Notes was partially offset by the repayment of the Wise PIK Toggle Notes in December 2016 for €148 million. In 2015, the primary financing use was the €211 million repayment relating mainly to the Wise ABL facility. In the fourth quarter, cash flows from operating activities were zero in the quarter as compared to positive €213 million in the comparable period last year. Factoring contributed €55 million in the fourth quarter 2016 compared to €356 million in the fourth quarter 2015. Capital expenditures were €125 million in the fourth quarter 2016 compared to €102 million in the fourth quarter 2015. Free cash flow was an outflow of €133 million versus an inflow of €102 million in the comparable period of the prior year, reflecting a €235 million decrease in cash flows from operating activities due to factoring noted above and higher capital expenditures in the fourth quarter 2016, compared to the fourth quarter of 2015. Net debt as of December 31, 2016 was €2,035 million compared with €1,703 million as of December 31, 2015 and cash and cash equivalents totaled €347 million compared to €472 million at the end of 2015. • Other Recent Developments In the first quarter of 2017, we completed a $650 million offering of 6.625% Senior Unsecured Notes due 2025 and the redemption of Wise’s 8.75% Senior Secured Notes due 2018. Together with the redemption of Wise’s $150 million 9 3 ⁄ 4 / 10 1 ⁄ 2 % PIK Toggle Notes due 2019, completed in December 2016, these actions simplify our corporate structure, significantly extend our maturity profile and are expected to reduce our annual interest costs by €27 million. In addition, we continue to take actions to increase our liquidity and enhance our financial flexibility. We recently extended the maturity of the Wise ABL facility from 2018 to 2020, extended the Wise Factoring Facility to 2018, and upsized to €150 million and extended factoring facilities in Europe to 2021. • Upcoming events Constellium will be hosting its 2017 Analyst Day on March 22 at the New York Stock Exchange. To register or access the live broadcast, please contact [email protected]. Constellium is introducing its new investor relations application featuring stock price data, latest news, earning results, investor presentations and regulatory filings. The ‘Constellium IR App’ can be downloaded on Apple Store and Google Play. 6 • Forward-looking statements Certain statements contained in this press release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. This press release may contain “forward looking statements” with respect to our business, results of operations and financial condition, and our expectations or beliefs concerning future events and conditions. You can identify forward-looking statements because they contain words such as, but not limited to, “believes,” “expects,” “may,” “should,” “approximately,” “anticipates,” “estimates,” “intends,” “plans,” “targets,” likely,” “will,” “would,” “could” and similar expressions (or the negative of these terminologies or expressions). All forward-looking statements involve risks and uncertainties. Many risks and uncertainties are inherent in our industry and markets. Others are more specific to our business and operations. These risks and uncertainties include, but are not limited to, the ability of Constellium and Wise Metals to achieve expected synergies and the timing thereof, Constellium’s increased levels of indebtedness which could limit Constellium’s operating flexibility and opportunities; the potential failure to retain key employees, the loss of customers, suppliers and other business relationships; disruptions to business operations; slower or lower than expected growth in the North American market for Body-in-White aluminium rolled products, and other risk factors set forth under the heading “Risk Factors” in our Annual Report on Form 20-F, and as described from time to time in subsequent reports filed with the U.S. Securities and Exchange Commission. The occurrence of the events described and the achievement of the expected results depend on many events, some or all of which are not predictable or within our control. Consequently, actual results may differ materially from the forward-looking statements contained in this press release. We undertake no obligation to update or revise any forward-looking statement as a result of new information, future events or otherwise, except as required by law. • About Constellium Constellium (NYSE and Euronext: CSTM) is a global sector leader that develops innovative, value added aluminium products for a broad scope of markets and applications, including aerospace, automotive and packaging. Constellium generated €4.7 billion of revenue in 2016. Constellium’s earnings materials for the fiscal year December 31, 2016 are also available on the company’s website ( www.constellium.com ). 7 CONSOLIDATED INCOME STATEMENT (in millions of Euros) Revenue Cost of sales Three months ended December 31, 2016 (Unaudited) Three months ended December 31, 2015 (Unaudited) 1,161 (1,039 ) Gross profit Year ended December 31, 2016 1,122 (1,017 ) 4,743 (4,227 ) Year ended December 31, 2015 5,153 (4,703 ) 122 105 516 450 (64 ) (56 ) (254 ) (245 ) (10 ) — — (19 ) (10 ) (2 ) (435 ) (20 ) (32 ) (5 ) — 21 (35 ) (8 ) (457 ) (131 ) 29 (418 ) 246 (426 ) Finance costs—net Share of loss of joint-ventures (37 ) (6 ) (36 ) (1 ) (167 ) (14 ) (155 ) (3 ) (Loss) / Income before income tax (14 ) (455 ) 65 (584 ) (6 ) 26 (69 ) 32 Net loss (20 ) (429 ) (4 ) (552 ) Net (loss) / income attributable to: Equity holders of Constellium Non-controlling interests (20 ) — (430 ) 1 (4 ) — (554 ) 2 Net loss (20 ) (429 ) (4 ) (552 ) Selling and administrative expenses Research and development expenses Restructuring costs Impairment Other (losses) / gains—net Income / (loss) from operations Income tax (expense) / benefit EARNINGS PER SHARE ATTRIBUTABLE TO THE EQUITY HOLDERS OF CONSTELLIUM (in Euros per share) Basic Diluted Three months ended December 31, 2016 (Unaudited) Three months ended December 31, 2015 (Unaudited) (0.19 ) (0.19 ) (4.07 ) (4.07 ) 8 Year ended December 31, 2016 (0.04 ) (0.04 ) Year ended December 31, 2015 (5.27 ) (5.27 ) CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME / (LOSS) (in millions of Euros) Net loss Three months ended December 31, 2016 (Unaudited) Three months ended December 31, 2015 (Unaudited) Year ended December 31, 2016 Year ended December 31, 2015 (20 ) (429 ) (4 ) (552 ) 83 — (20 ) (7 ) (25 ) — — 25 — — 2 — — 20 (9 ) 3 (25 ) 8 4 — — 11 (27 ) 9 6 — — 34 Other comprehensive income / (loss) 45 36 (30 ) 41 Total comprehensive income / (loss) 25 (393 ) (34 ) (511 ) 25 — (394 ) 1 (34 ) — (513 ) 2 25 (393 ) (34 ) (511 ) Other comprehensive income / (loss) Items not to be reclassified subsequently to the consolidated income statement Remeasurement on post-employment benefit obligations Income tax on remeasurement on post-employment benefit obligations Cash flow hedge Income tax on cash flow hedge Items to be reclassified subsequently to the consolidated income statement Cash flow hedge Income tax on cash flow hedge Currency translation differences Attributable to: Equity holders of Constellium Non-controlling interests Total comprehensive income / (loss) 9 CONSOLIDATED STATEMENT OF FINANCIAL POSITION (in millions of Euros) Assets Current assets Cash and cash equivalents Trade receivables and other Inventories Other financial assets Non-current assets Property, plant and equipment Goodwill Intangible assets Investments accounted for under equity method Deferred income tax assets Trade receivables and other Other financial assets Assets classified as held for sale Total assets Liabilities Current liabilities Trade payables and other Borrowings Other financial liabilities Income tax payable Provisions Non-current liabilities Trade payables and other Borrowings Other financial liabilities Pension and other post-employment benefit obligations Provisions Deferred income tax liabilities Liabilities classified as held for sale Total liabilities At December 31, 2016 At December 31, 2015 347 355 591 117 472 365 542 70 1,410 1,449 1,477 457 79 16 252 47 49 1,255 443 78 30 270 53 37 2,377 2,166 — 13 3,787 3,628 839 107 34 13 42 867 169 107 6 44 1,035 1,193 59 2,361 30 735 107 30 54 2,064 14 701 119 10 3,322 2,962 — 4,357 13 4,168 Equity Share capital Share premium Retained deficit and other reserves 2 162 (743 ) 2 162 (715 ) Equity attributable to equity holders of Constellium Non-controlling interests (579 ) 9 (551 ) 11 Total equity (570 ) (540 ) Total equity and liabilities 3,787 10 3,628 CONSOLIDATED STATEMENT OF CHANGES IN EQUITY (in millions of Euros) Share Capital Total comprehensive income / (loss) Transactions with Equity holders Share-based compensation MEP shares changes Transactions with non-controlling interests Total comprehensive income / (loss) Transactions with Equity holders Share based compensation Transactions with non-controlling interests Total comprehensive income / (loss) Transactions with Equity holders Share based compensation Transactions with non-controlling interests At December 31, 2016 Other reserves (14 ) — — — — — — — — (123 ) 6 (14 ) — — — (123 ) 6 (14 ) — — — — — — — — — — — — — — 162 (146 ) — — — — — 13 (6 ) — — 13 (6 ) — — — — — — — — — — 162 (133 ) — — — — — — — (18 ) (18 ) 6 — — — (18 ) (18 ) 6 — — — — — — — — — — — 162 (151 ) Retained losses — 2 At December 31, 2015 Net loss Other comprehensive (loss) / income Cash flow hedges (23 ) 2 At December 31, 2014 Net loss Other comprehensive income / (loss) Remeasurement Foreign Currency Translation reserve 162 At January 1, 2014 Net income Other comprehensive (loss) / income Share Premiu m 2 2 6 1 51 51 3 54 (131 ) 1 (130 ) (80 ) 4 (76 ) — — 4 1 (45 ) — 34 34 6 — 12 11 36 — — (18 ) 4 — — — 4 1 (2 ) (2 ) (43 ) 6 (37 ) (554 ) (554 ) 2 (552 ) — — 41 — (554 ) (513 ) (28 ) — Total equity 32 51 — Noncontrolling interests (96 ) — 4 1 Total Equity holders of Constellium 6 5 — 11 — — 17 2 — (511 ) 5 — 3 (599 ) (551 ) 11 (4 ) (4 ) — (4 ) (30 ) — (30 ) (34 ) — (34 ) 6 — 6 (4 ) — 41 — — 6 5 — — — — (2 ) (603 ) (579 ) 9 3 (540 ) (2 ) (570 ) CONSOLIDATED STATEMENT OF CASH FLOWS (in millions of Euros) Net loss Adjustments Depreciation and amortization Finance costs – net Income tax expense / (benefit) Share of loss of joint-ventures Unrealized (gains) / losses on derivatives – net and from remeasurement of monetary assets and liabilities – net Losses / (gains) on disposal and assets classified as held for sale Impairment Other – net Interest paid* Income tax paid Change in trade working capital Inventories Trade receivables Margin calls Trade payables Change in provisions and pension obligations Other working capital Three months ended December 31, 2016 (Unaudited) Three months ended December 31, 2015 (Unaudited) Year ended December 31, 2016 (20 ) (429 ) 46 37 6 6 41 36 (26 ) 1 155 167 69 14 140 155 (32 ) 3 (8 ) (8 ) (74 ) 23 10 — — (72 ) (3 ) (2 ) 435 1 (54 ) — 10 — (14 ) (174 ) (14 ) 5 457 5 (143 ) (9 ) (21 ) 81 — (60 ) 1 (3 ) 21 250 — (48 ) — (5 ) (42 ) 28 — (18 ) (5 ) (10 ) 149 343 1 (161 ) (20 ) 4 — 213 88 368 Purchases of property, plant and equipment Acquisitions of subsidiaries net of cash acquired Proceeds from disposals net of cash Equity contributions and loans to joint-ventures Other investing activities (125 ) 1 — (10 ) 2 (102 ) — — (10 ) 1 (355 ) 21 (5 ) (37 ) 11 (350 ) (348 ) 4 (34 ) 6 Net cash flows used in investing activities (132 ) (111 ) (365 ) (722 ) Net Proceeds from issuance of Senior Notes Repayments of Senior Notes / term loan Proceeds / (Repayments) from revolving credit facility and other loans Payment of deferred financing costs and exit costs Transactions with non-controlling interests Other financing activities — (148 ) — — 375 (148 ) — — 13 14 (1 ) 1 30 (69 ) (19 ) (2 ) 8 (211 ) (2 ) 3 45 Net cash flows (used in) / from financing activities (140 ) 44 145 (165 ) (272 ) 618 146 332 (132 ) 472 (519 ) 991 — — Net cash flows from operating activities Net (decrease) / increase in cash and cash equivalents Cash and cash equivalents—beginning of period Cash and cash equivalents classified as held for sale – beginning of period Effect of exchange rate changes on cash and cash equivalents Cash and cash equivalents—end of period 2 (7 ) 1 347 (2 ) 476 (4 ) Year ended December 31, 2015 4 (552 ) — 3 4 347 476 Less: Cash and cash equivalents classified as held for sale — Cash and cash equivalents as reported in the consolidated Statement of financial position 347 * (4 ) 472 — 347 In 2016, we changed the presentation of interest paid in our cash flow statement. Interest paid, which was previously reported as financing cash flows, is now reported as operating cash flows. Prior year numbers were reclassified to conform to the current year presentation. 12 (4 ) 472 SEGMENT ADJUSTED EBITDA (in millions of Euros) Three months ended December 31, 2016 Three months ended December 31, 2015 Year ended December 31, 2016 Year ended December 31, 2015 P&ARP A&T AS&I Holdings and Corporate 43 22 21 (5 ) 37 26 18 (5 ) 201 103 102 (29 ) 183 103 80 (23 ) Total Adjusted EBITDA 81 76 377 343 SHIPMENTS AND REVENUE BY PRODUCT LINE (in k metric tons) Three months ended December 31, 2016 Three months ended December 31, 2015 Year ended December 31, 2016 Year ended December 31, 2015 Packaging rolled products Automotive rolled products Specialty and other thin-rolled products Aerospace rolled products Transportation, industry, and other rolled products Automotive extruded products Other extruded products Other 198 28 202 23 856 113 880 88 10 30 14 27 44 118 67 116 29 23 26 — 23 23 25 — 125 99 118 (3 ) 115 97 115 — Total shipments 344 337 1,470 1,478 492 85 456 67 2,003 320 2,205 275 34 212 53 207 175 819 268 862 111 128 105 2 (8 ) 103 133 107 4 (8 ) 483 537 465 (11 ) (48 ) 493 544 503 29 (26 ) (in millions of Euros) Packaging rolled products Automotive rolled products Specialty and other thin-rolled products Aerospace rolled products Transportation, industry, and other rolled products Automotive extruded products Other extruded products Other* Inter-segment eliminations Total revenue * 1,161 1,122 4,743 5,153 Includes €20 million one-time payment related to the renegotiation of a customer agreement, which was recorded in the first quarter of 2016 as a reduction of revenues at the Holdings and Corporate level. 13 NON-GAAP MEASURES RECONCILIATIONS Reconciliation of net income to Adjusted EBITDA (a non-GAAP measure) (in millions of Euros) Net loss Income tax expense / (benefit) Income / (loss) before income tax Finance costs – net Share of loss of joint-ventures Income / (loss) from operations Depreciation and amortization Impairment Restructuring costs Unrealized (gains) / losses on derivatives Unrealized exchange losses / (gains) from remeasurement of monetary assets and liabilities—net Losses / (gains) on disposal and assets classified as held for sale Loss on Ravenswood OPEB plan amendments Share based compensation Metal price lag (A) Start-up and development costs (B) Manufacturing system and process transformation costs (C) Wise integration and acquisition costs Wise one-time costs (D) Wise purchase price adjustment (E) Other (F) Adjusted EBITDA (A) (B) (C) (D) Three months ended December 31, 2016 (20 ) 6 (14 ) 37 6 29 46 — — (6 ) (2 ) Three months ended December 31, 2015 (429 ) (26 ) (455 ) 36 1 (418 ) 41 435 2 (8 ) — Year ended December 31, 2016 (4 ) 69 65 167 14 246 155 — 5 (71 ) Year ended December 31, 2015 (552 ) (32 ) (584 ) 155 3 (426 ) 140 457 8 20 (3 ) 3 10 — 1 (7 ) 9 (2 ) 1 2 12 2 10 — 6 (4 ) 25 5 5 7 34 21 1 — — (1 ) 1 5 3 1 5 2 20 (20 ) 1 11 14 38 — 6 76 377 343 81 — — Metal price lag represents the financial impact of the timing difference between when aluminum prices included within Constellium revenues are established and when aluminum purchase prices included in Cost of sales are established. The Group accounts for inventory using a weighted average price basis and this adjustment aims to remove the effect of volatility in LME prices. The calculation of the Group metal price lag adjustment is based on an internal standardized methodology calculated at each of Constellium manufacturing sites and is calculated as the average value of product recorded in inventory, which approximates the spot price in the market, less the average value transferred out of inventory, which is the weighted average of the metal element of cost of sales, based on the quantity sold in the period. For the year ended December 31, 2016 and 2015, start-up costs relating to new sites and business development initiatives includes respectively €20 million and €16 million related to BiW/ABS growth projects both in Europe and the U.S. For the years ended December 31, 2016 and 2015, manufacturing system and process transformation costs related to supply chain reorganization mainly in our A&T operating segment. For the year ended December 31, 2016, Wise one-time costs related to a one-time payment of €20 million, recorded as a reduction of revenues, in relation to the re-negotiation of payment terms, pass through of Midwest premium amounts and other pricing mechanisms in a contract with one of Wise’s customers. We entered into the re-negotiation of these terms in order to align the terms of this contract, acquired during the acquisition of Wise, with Constellium’s normal business terms. For the year ended December 31, 2015, Wise one-time costs related to non-cash step-up in inventory costs on the acquisition of Wise entities (effects of purchase price adjustment for €12 million), to losses incurred on the unwinding of Wise previous hedging policies (€4 million) and to Midwest premium losses (€22 million). (E) (F) For the year ended December 31, 2016, the contractual price adjustment relating to the acquisition of Wise Metals Intermediate Holdings was finalized. We received a cash payment of €21 million and recorded €20 million gain, net of costs. For the year ended December 31, 2016, other includes individually immaterial other adjustments, offset by €4 million of insurance proceeds. 14 Reconciliation of net cash flows from operating activities to Free Cash Flow (a non-GAAP measure) Three months ended December 31, 2016 Three months ended December 31, 2015 Year ended December 31, 2016 Year ended December 31, 2015 Net cash flows from operating activities* Purchases of property, plant and equipment Equity contributions and loans to joint-ventures Other investing activities — (125 ) (10 ) 2 213 (102 ) (10 ) 1 88 (355 ) (37 ) 11 368 (350 ) (34 ) 6 Free cash flow (133 ) 102 (293 ) (10 ) * In 2016, we changed the presentation of interest paid in our cash flow statement. Interest paid, which was previously reported as financing cash flows, is now reported as operating cash flows. Prior year numbers were reclassified to conform to the current year presentation. Accordingly €174 million and €143 million of interest paid for the years ended December 31, 2016 and 2015 and €72 million and €54 million for the three month periods ended December 31, 2016 and 2015 respectively, are included in net cash flows from operating activities. Reconciliation of borrowings to Net debt (a non-GAAP measure) At December 31, 2016 (in millions of Euros) At December 31, 2015 Borrowings Fair value of cross currency interest swaps Cash and cash equivalents Cash pledged for issuance of guarantees 2,468 (77 ) (347 ) (9 ) 2,233 (47 ) (472 ) (11 ) Net debt 2,035 1,703 15 Non-GAAP measures In addition to the results reported in accordance with International Financial Reporting Standards (“IFRS”) as issued by the International Accounting Standards Board (all standards applied by the Group have been endorsed by the European Union), this press release includes information regarding certain financial measures which are not prepared in accordance with IFRS (“non-GAAP measures”). The non-GAAP financial measures used in this press release are: Adjusted EBITDA, Adjusted EBITDA per metric ton, Free cash flow and Net debt. Reconciliations to the most directly comparable IFRS financial measures are presented in the schedules to this press release. We believe these non-GAAP measures are important supplemental measures of our operating and financial performance. By providing these measures, together with the reconciliations, we believe we are enhancing investors’ understanding of our business, our results of operations and our financial position, as well as assisting investors in evaluating how well we are executing our strategic initiatives. However, these non-GAAP financial measures supplement our IFRS disclosures and should not be considered an alternative to the IFRS measures and may not be comparable to similarly titled measures of other companies. In considering the financial performance of the business, management and our chief operational decision maker, as defined by IFRS, analyze the primary financial performance measure of Adjusted EBITDA in all of our business segments. The most directly comparable IFRS measure to Adjusted EBITDA is our net income or loss for the period. We believe Adjusted EBITDA, as defined below, is useful to investors and is used by our management for measuring profitability because it excludes the impact of certain non-cash charges, such as depreciation, amortization, impairment and unrealized gains and losses on derivatives as well as items that do not impact the day-to-day operations and that management in many cases does not directly control or influence. Therefore, such adjustments eliminate items which have less bearing on our core operating performance. Adjusted EBITDA measures are frequently used by securities analysts, investors and other interested parties in their evaluation of Constellium and in comparison to other companies, many of which present an Adjusted EBITDA-related performance measure when reporting their results. Adjusted EBITDA is defined as income / (loss) from continuing operations before income taxes, results from joint ventures, net finance costs, other expenses and depreciation and amortization as adjusted to exclude restructuring costs, impairment charges, unrealized gains or losses on derivatives and on foreign exchange differences, metal price lag, share based compensation expense, effects of certain purchase accounting adjustments, start-up and development costs or acquisition, integration and separation costs, certain incremental costs and other exceptional, unusual or generally non-recurring items. Adjusted EBITDA is the measure of performance used by management in evaluating our operating performance, in preparing internal forecasts and budgets necessary for managing our business and, specifically in relation to the exclusion of the effect of favorable or unfavorable metal price lag, this measure allows management and the investor to assess operating results and trends without the impact of our accounting for inventories. We use the weighted average cost method in accordance with IFRS which leads to the purchase price paid for metal impacting our cost of goods sold and therefore profitability in the period subsequent to when the related sales price impacts our revenues. Management believes this measure also provides additional information used by our lending facilities providers with respect to the ongoing performance of our underlying business activities. Historically, we have used Adjusted EBITDA in calculating our compliance with financial covenants under certain of our loan facilities. 16 Adjusted EBITDA is not a presentation made in accordance with IFRS, is not a measure of financial condition, liquidity or profitability and should not be considered as an alternative to profit or loss for the period, revenues or operating cash flows determined in accordance with IFRS. Free Cash Flow is net cash flow from operating activities less capital expenditure, equity contributions and loans to joint ventures and other investing activities. Net debt is defined as borrowings plus or minus the fair value of cross currency interest swaps less cash and cash equivalents and cash pledged for the issuance of guarantees. Management believes that Free Cash Flow is a useful measure of the net cash flow generated or used by the business as it takes into account both the cash generated or consumed by operating activities, including working capital, and the capital expenditure requirements of the business. Management believes that Net debt is a useful measure of indebtedness because it takes into account the cash and cash equivalent balances held by the Company as well as the total external debt of the Company. Net debt and Free Cash Flow are not presentations made in accordance with IFRS, and should not be considered as an alternative to borrowings or operating cash flows determined in accordance with IFRS. 17 Fourth Quarter and Full Year 2016 Earnings Call March 9, 2017 Exhibit 99.2 Certain statements contained in this presentation may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. This presentation may contain “forward looking statements” with respect to our business, results of operations and financial condition, and our expectations or beliefs concerning future events and conditions. You can identify forward-looking statements because they contain words such as, but not limited to, “believes,” “expects,” “may,” “should,” “approximately,” “anticipates,” “estimates,” “intends,” “plans,” “targets,” likely,” “will,” “would,” “could” and similar expressions (or the negative of these terminologies or expressions). All forward-looking statements involve risks and uncertainties. Many risks and uncertainties are inherent in our industry and markets. Others are more specific to our business and operations. These risks and uncertainties include, but are not limited to, the ability of Constellium and Wise Metals to achieve expected synergies and the timing thereof, Constellium’s increased levels of indebtedness which could limit Constellium’s operating flexibility and opportunities; the potential failure to retain key employees, the loss of customers, suppliers and other business relationships; slower or lower than expected growth in the North American market for Body-in-White aluminium rolled products, and other risk factors set forth under the heading “Risk Factors” in our Annual Report on Form 20-F, and as described from time to time in subsequent reports filed with the U.S. Securities and Exchange Commission. The occurrence of the events described and the achievement of the expected results depend on many events, some or all of which are not predictable or within our control. Consequently, actual results may differ materially from the forward-looking statements contained in this presentation. We undertake no obligation to update or revise any forward-looking statement as a result of new information, future events or otherwise, except as required by law. Forward-looking statements Non-GAAP measures This presentation includes information regarding certain non-GAAP financial measures, including Adjusted EBITDA, Adjusted EBITDA per metric ton, Free Cash Flow and Net Debt. These measures are presented because management uses this information to monitor and evaluate financial results and trends and believes this information to also be useful for investors. Adjusted EBITDA measures are frequently used by securities analysts, investors and other interested parties in their evaluation of Constellium and in comparison to other companies, many of which present an adjusted EBITDA-related performance measure when reporting their results. Adjusted EBITDA, Adjusted EBITDA per Metric Ton, Free Cash Flow and Net Debt are not presentations made in accordance with IFRS and may not be comparable to similarly titled measures of other companies. These non-GAAP financial measures supplement our IFRS disclosures and should not be considered an alternative to the IFRS measures. This presentation provides a reconciliation of non-GAAP financial measures to the most directly comparable GAAP financial measures. Jean-Marc Germain Chief Executive Officer Shipments of 1.5 million kt in 2016, in-line with prior year Q4 Shipments of 344 kt, up 2% Revenue of €4.7 billion in 2016, down 8%, primarily due to lower metal prices; Q4 2016 revenue of €1.2 billion, up 3% Net loss of €4 million in 2016 compared to a net loss of €552 million including asset impairment charges in 2015 Q4 2016 Net loss comparison benefited for similar reasons Adjusted EBITDA of €377 million in 2016, up 10% Q4 2016 Adjusted EBITDA of €81 million, up 8% Strong performance in P&ARP and AS&I, stable performance in A&T Refinancing of the Wise Senior Secured Notes with Constellium Unsecured Senior Notes in February 2017 Financial Highlights Peter Matt Chief Financial Officer 2016 Adjusted EBITDA vs 2015 343 377 YoY Increase of 10% - Strong growth in P&ARP and AS&I, A&T stable 76 81 Q4 2016 Increase of 8% with a strong performance in P&ARP € millions Strong operational momentum continues at Muscle Shoals Improved price and mix benefited European operations in Q4 2016 Ramping up production of new ABS finishing lines at Neuf-Brisach, France and Bowling Green, Kentucky 2016 Performance Highlights Recent Developments Shipments decreased 2% to 1,013 kt on lower packaging and foil stock shipments Automotive rolled product shipments increased 28% to 113 kt Adjusted EBITDA increased 10% to €201 million on solid operational performance Packaging and Automotive Rolled Products Segment FY Adjusted EBITDA (€m) Shipments: 1,035kt 1,013kt (2%) Per ton: €176 €199 13% Q4 Adjusted EBITDA (€m) Shipments: 239kt 236kt (1%) Per ton: €150 €183 22% +10% +19% Shipments of 243 kt increased 5% Aerospace shipments increased 2% Transportation shipments increased 9% Higher shipments and improved costs offset weaker mix Adjusted EBITDA unchanged as compared to 2015 Excess inventory in aerospace supply chain temporarily impacting orders Higher transportation shipments expected to offset some aerospace softening New pusher furnace at Ravenswood operating and expected to help increase manufacturing efficiency AIRWARE® continuing to make progress Aerospace and Transportation Segment 2016 Performance Highlights Recent Developments Shipments: 231kt 243kt 5% Per ton: €445 €425 (4%) FY Adjusted EBITDA (€m) 0% (13%) Shipments: 50kt 59kt 16% Per ton: €509 €384 (25%) Q4 Adjusted EBITDA (€m) Automotive Structures and Industry Segment Shipments of 217 kt, up 3% on solid demand in core end markets Adjusted EBITDA increased to a record €102 million, up 27% Improved price and mix with solid cost performance Continuing solid execution across products and facilities Projects on schedule including start-up in Georgia facility in 2017 and Mexico facility in 2018 Over €1 billion revenue backlog in automotive structures Recent win on a major OEM battery box contract 2016 Performance Highlights Recent Developments +27% Shipments: 212kt 217kt 3% Per ton: €380 €471 24% FY Adjusted EBITDA (€m) +11% Shipments: 48kt 49kt 4% Per ton: €396 €423 7% Q4 Adjusted EBITDA (€m) Wise Secured Notes Refinancing Enhances Flexibility Allows CSTM to fully integrate the Wise assets, lowering costs and increasing financial flexibility within the Group Reduces interest expense by €27 million per annum (including Wise PIK/Toggle Notes) Extends the 2018 debt maturity to 2025 – our nearest maturity is now 2021 The February refinancing fully integrates Wise, reduces interest cost and extends maturity profile Maturity profile Net Debt and Liquidity € millions December 31, 2016 December 31, 2015 Borrowings 2,468 2,233 Fair value of cross currency interest rate swaps (77) (47) Cash and cash equivalents (347) (472) Cash pledged for issuance of guarantees (9) (11) Net Debt 2,035 1,703 Cash and cash equivalents 347 472 Availability 190 261 Total Liquidity 537 733 Jean-Marc Germain Chief Executive Officer End-Market Commentary North America Europe Highlights Automotive Strong Growth Strong Growth Light-weighting is expected to continue, new capacity ramping in Europe and USA AS&I has built a leading position in extrusions Aerospace Moderate Growth Moderate Growth Secular growth in air traffic to continue; long term aircraft demand steady Temporary excess inventory and announced reductions in selected wide-body build rates will impact 2017 Composites remain a factor Packaging Flat Growth Low Growth Conversion from steel to aluminium driving European growth BiW/ABS conversions should help longer term North American supply / demand balance Strategic Update Management team in place Long term operational, strategic and financial plan finalized Our growth investments on track and should begin to generate returns Capital spending has peaked – new, disciplined capital deployment processes instituted to govern future spending Taking steps to increase financial flexibility Update on Key Projects Bowling Green, KentuckyP&ARP100kt ABS/BiW finishing line Neuf-Brisach, FranceP&ARP100kt ABS/BiW finishing line White, GeorgiaAS&I Extrusion Press San Luis Potosí, MexicoAS&IExtrusion Press Financial Guidance Expect high single-digit growth in Adjusted EBITDA annually over the next three years 2017 capital spending target €275 million Formulating new initiatives to improve cash flow generation Targeting positive free cash flow in 2019 Solid 2016 results with Adjusted EBITDA performance of €377 million, up 10%; Q4 €81 million, up 8% Strong operational performance in P&ARP and AS&I, stable performance in A&T Improved our balance sheet and financial flexibility with refinancing of Wise Senior Secured Notes Remain highly focused on continued operational execution and disciplined capital deployment Key Takeaways Analyst Day March 22 at the NYSE Appendix Shipments by Product Line (000’s metric tons) FY 2016 FY 2015 Packaging rolled products 856 880 Automotive rolled products 113 88 Specialty and other thin-rolled products 44 67 Aerospace rolled products 118 116 Transportation, industry, and other rolled products 125 115 Automotive extruded products 99 97 Other extruded products 118 115 Eliminations and other (3) - Total 1,470 1,478 k metric tons Shipments by Product Line (000’s metric tons) Three months December 31, 2016 Three months December 31, 2015 Packaging rolled products 198 202 Automotive rolled products 28 23 Specialty and other thin-rolled products 10 14 Aerospace rolled products 30 27 Transportation, industry, and other rolled products 29 23 Automotive extruded products 23 23 Other extruded products 26 25 Total 344 337 k metric tons IFRS – FY 2016 Income Statement Year ended December 31, 2016 Year ended December 31, 2015 Revenue 4,743 5,153 Income / (loss) from operations 246 (426) Finance costs – net (167) (155) Share of loss of joint-ventures (14) (3) Income / (loss) before income taxes 65 (584) Income tax (expense) / benefit (69) 32 Net Loss (4) (552) € millions IFRS – Q4 2016 Income Statement Three months ended December 31, 2016 Three months ended December 31, 2015 Revenue 1,161 1,122 Income / (loss) from operations 29 (418) Finance costs – net (37) (36) Share of loss of joint-ventures (6) (1) Loss before income taxes (14) (455) Income tax expense (6) 26 Net Loss (20) (429) € millions IFRS – Statement of Financial Position At December 31, 2016 At December 31, 2015 Current assets 1,410 1,449 Non-current assets 2,377 2,166 Assets held for sale - 13 Total Assets 3,787 3,628 Current liabilities 1,035 1,193 Non-current liabilities 3,322 2,962 Liabilities held for sale 13 Equity (570) (540) Total Equity and Liabilities 3,787 3,628 € millions Net Debt Reconciliation December 31, 2016 December 31, 2015 Borrowings 2,468 2,233 Fair value of cross currency interest rate swaps (77) (47) Cash and cash equivalents (347) (472) Cash pledged for issuance of guarantees (9) (11) Net Debt 2,035 1,703 € millions Liquidity Position Availability as of 12/31/2016 Commentary Cash and cash equivalents 347 Excludes €9 million restricted cash Ravenswood ABL 29 Matures October 2018 Wise ABL(1) 121 Matures September 2020 Factoring facilities 33 Wise: matures January 2018 French: matures December 2018 German/Swiss facility upsized to €150 million: matures October 2021 Other 7 Total availability 537 € millions 1 Company amended and extended this facility prior to the closing of the February 2017 refinancing. Reconciliation of Net Income to Adjusted EBITDA € millions Three months ended December 31, 2016 Three months ended December 31, 2015 Year ended December 31, 2016 Year ended December 31, 2015 Net loss (20) (429) (4) (552) Income tax expense / (benefit) 6 (26) 69 (32) Income / (loss) before income tax (14) (455) 65 (584) Finance costs - net 37 36 167 155 Share of loss of joint-ventures 6 1 14 3 Income / (loss) from operations 29 (418) 246 (426) Depreciation and amortization 46 41 155 140 Impairment ̶ 435 ̶ 457 Restructuring costs ̶ 2 5 8 Unrealized (gains) / losses on derivatives (6) (8) (71) 20 Unrealized exchange losses / (gains) from remeasurement of monetary assets and liabilities – net (2) ̶ (3) 3 Losses / (Gains) on disposal and assets classified as held for sale 10 (2) 10 5 Loss on Ravenswood OPEB plan amendments ̶ 1 ̶ 5 Share based compensation 1 2 6 7 Metal price lag (7) 12 (4) 34 Start-up and development costs 9 2 25 21 Manufacturing system and process transformation costs 1 5 5 11 Wise acquisition and integration costs ̶ 3 2 14 Wise one-time costs ̶ ̶ 20 38 Wise purchase price adjustment (1) ̶ (20) ̶ Other 1 1 1 6 Adjusted EBITDA 81 76 377 343 Borrowings Table € millions December 31, 2016 December 31, 2015 Redemption Value Nominal Rate Effective Rate Face Value (Arrangement fees) / step-up Accrued Interests Carrying Value Carrying Value Secured ABL Ravenswood (due 2018) $48 Floating 3.08% 46 — — 46 23 Muscle Shoals (due 2018) — Floating — — — — — 99 Senior Secured Notes Constellium N.V. (Issued March 2016, due 2021) $425 7.88% 8.94% 403 (10) 8 401 — Muscle Shoals (Issued December 2013 due 2018) $650 8.75% 7.45% 617 16 2 635 622 Senior Unsecured Notes Constellium N.V. (Issued May 2014, due 2024) $400 5.75% 6.26% 379 (5) 3 377 365 Constellium N.V (Issued May 2014, due 2021) € 300 4.63% 5.16% 300 (4) 2 298 297 Constellium N.V. (Issued December 2014, due 2023) $400 8.00% 8.61% 379 (6) 14 387 375 Constellium N.V. (Issued December 2014,due 2023) € 240 7.00% 7.54% 240 (4) 8 244 244 Senior Unsecured PIK Toggle Notes Muscle Shoals — — — — — — — 145 Other loans (including Finance leases) 80 — — 80 63 Total Borrowings 2,444 (13) 37 2,468 2,233 Of which non-current 2,361 2,064 Of which current 107 169