Umm, the EZ-out, drill a guide hole in the bolt first, then use the ez-out on it in a hand tap handle.
Wouldnt hurt to spray the bolt down with some PB Blaster before hand.
If you cant manage to drill the guide hole in the bolt for the EZ-out, you might want to try slotting the exposed portion of the bolt with a cutoff wheel and just use a screwdriver on it (This depends on how much bolt is exposed)
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