Back to the OP:
I've removed dozens of bolts like that, usually successfully, a couple, not.
The most important step is getting your drill hole CENTERED!
Getting this right will give you options down the road. Use a center punch. If you see the bit isn’t exactly centered, lean the drill towards the correct center and move/drift the hole back to center.
Start with a smaller bit, to establish center and a pilot hole, then finish with the correct diameter for your EZ out.
I highly recommend square tapered EZ outs over the spiral one. The spiral ones can split the stub and put pressure against the threads.
One of the BEST EZ outs is a Torx bit. They come in different configurations, but I have a set of SnapOns that are just the bit and a 1/4” hex shank. Takes a wrench or socket to drive them. It looks like a 25 or 27 might be the size for you, maybe even a 30. Start with the 25, but make sure you don’t twist it off. If you wear the hole out as I’ve described below, you can move to the next bigger size.
Drill the hole the same size as the smaller dimension of the torx bit. Best if you can drill all the way thru the bolt, till you hit aluminum. The star part of the bit will broach a six-sided interface into your hole, better than a 4-sided like a tapered square EZ out. It should drive in with some resistance as you broach out the hole.
Penetrating oil may help some, heat helps the most, but when you apply pressure on the wrench, alternate between loosen and tighten.
I like to use a 1/4“ socket with a 1/4” breaker bar, and get a rhythm going, using the weight of the breaker bar and your hand, plus the momentum of the swing. Don’t overdo it, go gently at first, increase the force gradually. I’ve been known to swing that wrench back and forth for several MINUTES before I could feel a bit of give. When it breaks loose, keep up the back and forth, add penetrating oil or heat again if necessary. Just concentrate on getting the wrench to swing a wider and wider arc. If it breaks loose, emphasize the “loosen” force a bit more that the “tighten“force, but don’t rush it. Try to grind up the rust/corrosion between the bolt and the hole, until it gets looser and looser.
Ive found if I’m feeling impatient or nervous, it’s best to go do something else for a while, even a day. It works best if I’m completely relaxed.
If you cant get it to turn, don’t break off the EZ out!
You can drill the hole bigger, size by size until you just see threads, and sometimes you can “grab” the end of the thread with a good needle nose and pull it right out of the grooves, like pulling a spring out. Or you can “pick” the threads out of the grooves, then clean it up with a tap.
When reassembling, rather than a bolt, I like to use a stud, so I can insert it all the way to the bottom of the hole, to utilize every thread available, especially if you have compromised the top several threads. Insert the stud kinda loosely to arrive at correct length, and cut it off as necessary, then double nut it and take it to the bottom of the hole.
(A nut on a stud treats the soft aluminum better than the twisting and pulling of a cap screw).
Good Luck!