Allegheny Technologies Incorporated and Subsidiaries

Computation of Basic and Diluted Earnings Per Share Attributable to ATI

(Unaudited, dollars in millions, except per share amounts)

Three Months Ended

Six Months Ended

June 30

March 31

June 30

June 30

June 30

2021

2021

2020

2021

2020

Numerator for Basic net loss per common share -

Net loss attributable to ATI

$

(49.2)

$

(7.9)

$

(422.6)

$

(57.1)

$

(401.5)

Effect of dilutive securities:

4.75% Convertible Senior Notes due 2022

—

—

—

—

—

3.5% Convertible Senior Notes due 2025

—

—

—

—

—

Numerator for Diluted net loss per common share -

Net loss attributable to ATI after assumed conversions

$

(49.2)

$

(7.9)

$

(422.6)

$

(57.1)

$

(401.5)

Denominator for Basic net loss per common share -

Weighted average shares outstanding

127.1

126.8

126.6

127.0

126.4

Effect of dilutive securities:

Share-based compensation

—

—

—

—

—

4.75% Convertible Senior Notes due 2022

—

—

—

—

—

3.5% Convertible Senior Notes due 2025

—

—

—

—

—

Denominator for Diluted net loss per common share -

Adjusted weighted average shares assuming conversions

127.1

126.8

126.6

127.0

126.4

Basic net loss attributable to ATI per common share

$

(0.39)

$

(0.06)

$

(3.34)

$

(0.45)

$

(3.18)

Diluted net loss attributable to ATI per common share

$

(0.39)

$

(0.06)

$

(3.34)

$

(0.45)

$

(3.18)