SUPERIOR AEROSPACE, INC. DBA BORING MACHINE CORPORATION

employer retirement income contributions are contributed in the same manner as the participant’s other investment elections. If the participant has not made investment elections, company matching contributions will automatically be invested in the appropriate targeted maturity fund based on the participant’s year of birth. Certain eligible RMI participants hired or rehired as of specified dates negotiated with the unions will receive retiree medical savings contributions to their accounts in an amount equal to $0.35 per hour worked. These employer contributions are contributed to the appropriate targeted maturity fund based on the participant’s year of birth but may be transferred by the participant from the default fund to any eligible fund. Participant Accounts Each participant’s accoun

he Company and certain subsidiary locations that have adopted the Plans. Employees are immediately eligible for plan participation. Effective January 1, 2024, all participants are fully vested in the value of their contributions plus actual earnings thereon at all times. Company contributions are therefore nonforfeitable. Prior to January 1, 2024, contributions of the collectively bargained employees of the RMI Titanium Co. LLC ("RMI participants") vested on an incremental basis, becoming fully vested after three years of service. Employee Contributions Eligible employees may elect to contribute to the Plans a percentage of eligible compensation as pre-tax or Roth after-tax, when combined not to exceed the Internal Revenue Service ("IRS") limit, with a maximum of 25% in the aggregate. Elig

payroll period following the election. Participants direct their contributions in multiples of 1% into various investment options offered by the Plans. Eligible employees will be automatically enrolled in the Plans after 60 days of hire or rehire and subject to automatic payroll deductions equal to 3% of eligible compensation, which will be contributed to the Plans as pre-tax savings, unless the employee chooses to either enroll sooner or to not participate. After 90 days of plan participation, the pre-tax savings rate will be increased by 1% on each April 1 until the pre-tax savings rate attains a target rate of 6% of eligible compensation. The employee can change the contribution rate, annual rate increase, and target contribution rate or stop automatic enrollment at any time. The Plans

4.25% to 9.25% as of December 31, 2023. For each loan request, a one-time $75 loan processing fee and an annual $25 loan maintenance fee are deducted from the loan amount to cover administrative expenses. Benefit Payments To Participants While actively employed, participants have access to account funds through loans, nonhardship withdrawals of after-tax and rollover contributions, withdrawals for participants over age 59 1 / 2 , hardship withdrawals of pre-tax contributions, and the related investment earnings on pre-tax contributions. No portion of a legacy RTI MPP balance shall be available for withdrawals during employment. On termination of service due to death, disability, or retirement, participants with an account balance greater than $7,000 may elect to leave their investment in t

her earnings on Roth 401(k) contributions may not be taxable at withdrawal provided the participant has met the applicable rules. Vesting Participants in the Plan are at all times fully vested in their account balance, including employee contributions, prior IBM contributions and earnings thereon, if any. Distributions Participants who have terminated employment or are eligible for in-service distributions (e.g. have reached age 59.5) may request ad hoc distributions ($ 500 minimum) or a full distribution. In addition, participants may also elect to receive the balance of their account in semi-monthly, monthly, quarterly, semi-annual or annual installments. Eligible participants may request installments over a fixed period of time or at a flat dollar amount ($ 500 minimum per period for a

ied PPP) called the Retirement Benefit Account (RBA). IBM's contributions to the Plan ended and employees can continue to make contributions to the Plan. Newly hired employees are automatically enrolled at 5 percent of eligible salary and performance pay after approximately 30 days of employment with IBM, unless they elect otherwise. Participants are able to choose to have their contributions invested entirely in one of, or in any combination of, the 35 primary funds and about 160 mutual and commingled funds in the Expanded Choice - Select Funds, in multiples of one percent. If participants do not make an investment election, then contributions will be invested in the default Target Retirement fund that most closely corresponds to the year in which they will reach age 65 . Participants may

icipants 955,181 Transfers from acquired company benefit plans 263,070 Total additions 10,381,207 Deductions from net assets attributed to: Distributions to participants 6,593,690 Administrative Expenses, Net 40,094 Total deductions 6,633,783 Net increase in net assets during the year $ 3,747,424 Net assets available for benefits: Beginning of year $ 59,862,206 End of year $ 63,609,630 The accompanying notes are an integral part of these financial statements. 5 IBM 401(k) PLAN NOTES TO FINANCIAL STATEMENTS NOTE 1 - DESCRIPTION OF THE PLAN The following description of the IBM 401(k) Plan (the “Plan”) provides only general information. Participants should refer to the Plan prospectus (Summary Plan Description) and applicable Summaries of Material Modification (SMM) for a complete description