William Peterson

Timna Tanners

Abraham Landa

Bill Peterson

Josh Sullivan

- Kaiser Aluminum Corporation (KALU) has entered into an **Amended Credit Agreement**, which represents the **fifth amendment** to the original agreement dated **October 30, 2019**.  **[811596_0001193125-25-241481_d33098d8k.htm:2]** **[811596_0001193125-25-241481_d33098dex101.htm:4]** 
- The Amended Credit Agreement places restrictions on the company's ability to, among other things, **grant liens, engage in mergers, sell assets, incur debt, pay dividends, and repurchase shares**.  **[811596_0001193125-25-241481_d33098d8k.htm:2]** 
- A key financial covenant requires the Borrowers to maintain a **fixed charge coverage ratio of not less than 1.0 to 1.0** if certain minimum availability thresholds are not met.  **[811596_0001193125-25-241481_d33098d8k.htm:2]** 
- A "Change in Control" is defined as the acquisition of **more than 45%** of the aggregate ordinary voting power represented by the issued and outstanding Equity Interests of KAC by any person or group.  **[811596_0001193125-25-241481_d33098dex101.htm:17]**

Kaiser Aluminum Corporation Amends Credit Agreement

- Kaiser Aluminum Corporation (KALU) has **extended its $575 million senior secured revolving credit facility** for up to an additional **five years**, now maturing in **October 2030**.  **[811596_f1e4df21f44a4a8695fb9d31051f960c_0]** 
- The extension and amendment became effective on **October 14, 2025**, and the facility was modified to incorporate improved terms offering greater operational flexibility.  **[811596_f1e4df21f44a4a8695fb9d31051f960c_0]** 
- As of the effective date, gross borrowing availability under the facility was **$575 million**, with **$15 million** in outstanding letters of credit and **no outstanding loans**.  **[811596_f1e4df21f44a4a8695fb9d31051f960c_0]**

KAISER ALUMINUM (KALU)