Exhibit 99.1
Kaiser Aluminum Corporation Reports
Fourth Quarter and Full Year 2019 Financial Results



Fourth Quarter 2019:
Net Sales $369 Million; Value Added Revenue $213 Million, Up 1% Year-over-Year
Net Loss $11 Million; Net Loss per Diluted Share $0.66, Includes Pre-tax Charges of $45 Million, or $2.14 per Diluted Share After-tax, Related to Senior Notes Refinancing and Goodwill Impairment
Adjusted Net Income $29 Million; Adjusted Earnings per Diluted Share $1.79
Adjusted EBITDA $52 Million; Adjusted EBITDA Margin 24.5%

Full Year 2019:
Net Sales $1.5 Billion; Record Value Added Revenue $856 Million, Up 3% Year-over-Year
Net Income $62 Million; Earnings per Diluted Share $3.83, Reflects Fourth Quarter Charges
Record Adjusted Net Income $111 Million; Record Adjusted Earnings per Diluted Share $6.85
Record Adjusted EBITDA $213 Million; Adjusted EBITDA Margin 24.9%
Trentwood Capacity and Efficiency Hindered by Planned and Unplanned Downtime on Key Equipment
New Revolving Credit Facility and Senior Notes Increased Liquidity and Extended Debt Maturity Dates
Successfully Negotiated New 5-Year USW Master Labor Agreement (October 2020 - September 2025)

FOOTHILL RANCH, Calif., February 19, 2020
- Kaiser Aluminum Corporation (NASDAQ:KALU), a leading producer of semi-fabricated specialty aluminum products, serving customers worldwide with highly-engineered solutions for aerospace and high-strength, custom automotive, general engineering, and other industrial applications, today announced fourth quarter and full year 2019 results.

"We achieved several financial milestones in 2019, including record value added revenue, adjusted EBITDA, adjusted net income and adjusted earnings per diluted share," said Jack A. Hockema, Chairman and Chief Executive Officer. "These milestones were accomplished despite planned and unplanned downtime at our Trentwood facility in Spokane, Washington in the first half of 2019, the impact of the General Motors strike in the second half of the year, and reduced sales and inefficiency related to the significant number of automotive model changeovers in 2019."

"We were proactive to enhance our financial and operational position during the year. Capitalizing on attractive credit markets, we successfully completed two new debt financings that increased liquidity. This enhanced financial flexibility will support our strategic investment initiatives, ensuring our continued financial strength throughout the business and economic cycles. In addition, we recently finalized a new labor agreement that extends through 2025 for our two largest facilities in Spokane, Washington and Newark, Ohio. Our continued confidence in the long-term outlook for our business is reflected in our decision to increase the quarterly dividend by 12% to $0.67 per share, up from the 9% increase in early 2019, marking the ninth consecutive year we have increased our quarterly dividend," stated Mr. Hockema.

Full Year 2019 Management Summary

Full year 2019 results were driven by record aerospace shipments and strong value added pricing, partially offset by lower general engineering and automotive shipments. Strong aerospace demand was driven by growing military airframe builds and restocking in the commercial aerospace supply chain. The strong demand provided a favorable environment for non-contract pricing on the Company's aerospace and industrial products. Results were negatively impacted by heat treat plate capacity constraints at the Company's Trentwood facility due to planned and unplanned downtime during the first half of 2019. Lower shipments of the Company's general engineering applications resulted primarily from allocating a portion of its heat treat plate capacity to meet the strong aerospace demand during the year. In addition, demand for general engineering and industrial applications began to slow in the second



The following information was filed by Kaiser Aluminum Corp (KALU) on Wednesday, February 19, 2020 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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