Kaiser Aluminum (KALU) Corporate presentation summary

Strategic positioning and market overview

• Maintains a leading position in North American specialty aluminum mill products with a diversified portfolio and strong presence in strategic end markets, including aerospace, packaging, general engineering, and automotive extrusions.

• Operates 13 production facilities across North America, ensuring a 100% regional footprint and robust supply chain.

• Focuses on high-barrier market segments, leveraging product quality, service, and proprietary technologies to create defensible moats and strong customer relationships.

Financial performance and growth drivers

• Achieved approximately $1.5B in last twelve months (LTM) conversion revenue and maintains an adjusted EBITDA margin of ~24%.

• Conversion revenue is well-diversified: 31% aerospace/high strength, 38% packaging, 23% general engineering, and 8% automotive extrusions.

• Long-term demand growth rates are projected at 3-4% for aerospace, 3-5% for packaging, 2% for general engineering, and 5% for automotive extrusions.

• Recent investments include expansion at Trentwood for aerospace/general engineering and a new roll coat line at Warrick for packaging, both commissioned in 2025.

Capital allocation and investment strategy

• Over $3.4B allocated since 2007: 45% to organic investment, 22% to inorganic growth, 19% to dividends, and 14% to share repurchases.

• Organic investments since 2007 total ~$1.54B, exceeding 1.5x depreciation, with a mix of sustaining and growth capital.

• Inorganic growth focuses on strategic bolt-on acquisitions that expand product offerings and align culturally.

• More than $1B returned to shareholders since 2007 through dividends and share repurchases.