ATI transfers ~85% of pension obligations to Athene; fully funds remaining

ATI INC

Transfers ~85% of U.S. qualified defined benefit pension obligations to Athene for approx. 8,200 plan participants.
Pension liabilities were $1.77B as of 12/31/2022.
ATI contributed $272M cash in 2023 (incl. $222M in Sept.) to fully fund remaining pension liabilities.
Transaction is part of de-risking strategy; participant benefits unchanged.
Since 2016, ATI has reduced plan participants by over 90% via seven annuitization transactions.

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