ADDED
As of February 16, 2026, there were 16,210,443 shares of the Common Stock of the registrant outstanding.
Metal Price Lag will generally increase our earnings in times of rising primary aluminum prices and decrease our earnings in times of declining primary aluminum prices.
MWTP Midwest Transaction Price is equal to the LME aluminum price plus a Midwest premium Newark Kaiser Aluminum manufacturing facility located in Heath, Ohio, a suburb of Newark, Ohio OPEB Other Post Employment Benefits Packaging 3000 and 5000 series alloy products used in the beverage and food packaging end markets Revolving Credit Facility Revolving credit facility with Wells Fargo Bank, National Association, as administrative agent, and the other financial institutions party thereto Salaried VEBA Salaried Voluntary Employees' Beneficiary Association SEC U.S.
4 Business Overview Leading positions in select end markets Kaiser Aluminum Corporation, a Delaware corporation, manufactures and sells semi-fabricated specialty aluminum mill products that include flat-rolled (plate, sheet, and coil), extruded (rod, bar, hollows, and shapes), drawn (rod, bar, pipe, tube, and wire), and certain cast aluminum products.
We strategically focus our business on select end markets with demanding applications and high barriers to entry, where we believe we have sustainable competitive advantages that allow us to earn premium pricing and generate long-term profitable growth.
The end market applications on which we have historically focused include: (i) Aero/HS Products; (ii) Packaging; (iii) GE Products; and (iv) Automotive Extrusions.
These technically challenging applications leverage our core metallurgical and process technology capabilities to produce highly engineered mill products with differentiated characteristics that are required for the particular end uses.
We strive to strengthen our competitive position through strategic capital investments aimed at increasing our capacity and expanding our manufacturing capabilities.
A significant portion of the Trentwood investment also focused on modernizing legacy equipment and the process flow for thin gauge plate to achieve Kaiser Select quality enhancements for Aero/HS Products and GE Products.
We believe these improvements have allowed and will continue to allow us to gain incremental manufacturing capacity to enable future sales growth.
REMOVED
As of February 17, 2025, there were 16,100,473 shares of the Common Stock of the registrant outstanding.
Business Overview Kaiser Aluminum Corporation, a Delaware corporation, manufactures and sells semi-fabricated specialty aluminum mill products for the following end market applications: (i) Aero/HS Products; (ii) Packaging; (iii) GE Products; (iv) Automotive Extrusions; and (v) Other products.
Our fabricated aluminum mill products include flat-rolled (plate, sheet, and coil), extruded (rod, bar, hollows, and shapes), drawn (rod, bar, pipe, tube and wire) and certain cast aluminum products.
The sophistication of our products is due to the metallurgy and physical properties of the metal and the special characteristics that are required for particular end uses.
We strategically choose to serve technically challenging applications for which we can deploy our core metallurgical and process technology capabilities to produce highly engineered mill products with differentiated characteristics that present opportunities for us to receive premium pricing and to create long-term profitable growth.
A fundamental part of our business model is to remain neutral to the impact from fluctuations in the market price for aluminum and certain alloys, thereby earning profit predominantly from the conversion of aluminum into 4 semi-fabricated mill products.
See the Pricing, Metal Price Risk Management and Hedging section below for more details.
With respect to the global market for flat-rolled aluminum mill products, our focus is on heat treated plate and sheet for applications that require higher strength and other desired product attributes that cannot be achieved by common alloy rolled products.
The primary end market applications of flat-rolled heat treat plate and sheet are Aero/HS products (which we sell globally) and GE products (which we predominantly sell within North America).
Our flat rolled aluminum products also include bare and coated aluminum coil for can stock applications in the beverage and food packaging industry in North America.