Exhibit 99.1
Kaiser Aluminum Corporation Reports
Fourth Quarter and Full Year 2016 Financial Results

Fourth Quarter 2016 Highlights:
Net Sales $332 Million; Value Added Revenue up 6% to $201 Million
Net Income $25 Million; Adjusted EBITDA $52 Million; Adjusted EBITDA Margin 26%
Benefit From Prior Quarter In-Transit Finished Goods Inventory

Full Year 2016 Results and Business Highlights:
Net Sales $1.3 Billion; Value Added Revenue Up 3% to $813 Million
Net Income $92 Million; Adjusted EBITDA $207 Million; Adjusted EBITDA Margin 25%
Solid Demand Across All End-Market Applications
Strong Sales Margins, Operating Performance and Underlying Manufacturing Cost Efficiency
Continued Investment Focused on Cost Efficiency, Capacity and Future Growth
Returned $66 Million to Shareholders Through Quarterly Dividends and Share Repurchases

FOOTHILL RANCH, Calif., February 21, 2017
- Kaiser Aluminum Corporation (NASDAQ:KALU) today announced fourth quarter 2016 results, reporting net income of $25 million, or $1.37 earnings per diluted share, up from net income and earnings per diluted share of $13 million and $0.73, respectively, for the prior year period. Excluding the impact of non-run-rate items, adjusted net income was $23 million, or $1.27 per diluted share, for the fourth quarter 2016, compared to adjusted net income of $11 million, or $0.60 per diluted share, for the fourth quarter 2015.

For the full year 2016, the Company reported net income of $92 million, or $5.09 earnings per diluted share, compared to a net loss of $237 million, or a $13.76 loss per diluted share, for the prior year ended December 31, 2015. The net loss in the prior period reflected a $307 million after-tax, non-cash, non-run-rate charge associated with the termination of defined benefit accounting and removal of the assets and liabilities related to the ongoing union voluntary employee beneficiary association ("Union VEBA") from the Company's consolidated balance sheet. Excluding the impact of non-run-rate items, adjusted net income was $87 million for the full year 2016, or $4.83 per diluted share, compared to the prior year adjusted net income of $72 million, or $3.95 per diluted share. Reported and as adjusted 2016 results included approximately $11 million of additional pre-tax expense associated with the early retirement of the Company’s 8.25% unsecured senior notes in the second quarter. Adjusted net income and earnings per diluted share in 2015 also reflected a higher effective tax rate due to a $5 million fourth quarter tax charge related to year-end reassessment of expiring state net operating loss carryforwards.

Fourth Quarter and Full Year 2016 Summary

"Our fourth quarter 2016 results reflect solid underlying demand with normal year-end seasonal weakness. Strong shipments and value added revenue were supported by delivery of the unusually high in-transit aerospace plate inventory at end of the third quarter. Earnings benefited from strong sales margins, as the negative impact of competitive price pressure was more than offset by favorable product mix and strong underlying manufacturing efficiency,” said Jack A. Hockema, CEO and Chairman.

“For the full year 2016, we achieved record value added revenue, adjusted EBITDA and adjusted EBITDA margin,” said Mr. Hockema. “Although we benefited from solid demand and low contained metal costs, our strong operating performance was the primary driver of our results:
Our Best-In-Class customer satisfaction performance supported strong sales across our broad product offering,
Previous investments for quality, capacity, and efficiency across the platform facilitated the strong sales and manufacturing performance,
Underlying manufacturing cost efficiency was a step-change improvement in 2016 with record performance at several manufacturing locations, and



The following information was filed by Kaiser Aluminum Corp (KALU) on Tuesday, February 21, 2017 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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