8-K

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549

FORM 8-K

CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D) OF THE
SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest reported event): October 30, 2013

NORANDA ALUMINUM HOLDING CORPORATION

(Exact Name of Registrant as Specified in Its Charter)

Delaware	001-34741	20-8908550
(State or Other Jurisdiction of Incorporation)	(Commission File Number)	(IRS Employer Identification Number)
801 Crescent Centre Drive, Suite 600, Franklin, Tennessee 37067
(Address of Principal Executive Offices) (Zip Code)
Registrant’s telephone number, including area code: (615) 771-5700

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 2.02.    Results of Operations and Financial Condition.

The following information is furnished pursuant to Item 2.02, “Results of Operations and Financial Condition.” Consequently, it is not deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, or otherwise subject to the liabilities of that section. It may only be incorporated by reference in another filing under the Securities Exchange Act of 1934 or Securities Act of 1933 if such subsequent filing specifically references this Form 8-K.

Today Noranda Aluminum Holding Corporation (“the Company”) issued a press release regarding its financial results for the quarter ended September 30, 2013. A copy of the press release is furnished as Exhibit 99.1 to this Form 8-K and is incorporated by reference herein in its entirety. A copy of investor presentation materials relating to such financial results is attached hereto as Exhibit 99.2 and is incorporated by reference herein in its entirety. The press release and presentation materials use the following non-GAAP financial measures: “Adjusted EBITDA,” “Integrated net cash cost,” and “Diluted earnings per share, excluding special items.” A reconciliation of each measure to the most directly comparable U.S. GAAP measure is available in the press release attached hereto as Exhibit 99.1.

Item 8.01    Other Events.

On October 30, 2013, the Company announced that its Board of Directors has declared a regular quarterly dividend of $0.01 per share to be paid on December 5, 2013 to shareholders of record as of November 12, 2013. Changes in the Company's financial condition and cash needs could result in future dividends being declared in different amounts, or not at all.

A copy of the press release is attached hereto as Exhibit 99.3 and incorporated by reference herein in its entirety.

Item 9.01.    Financial Statements and Exhibits

Exhibit

NumberDescription

99.1    Press release, dated October 30, 2013

99.2    Presentation materials, dated October 30, 2013

99.3    Press release, dated October 30, 2013

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	NORANDA ALUMINUM HOLDING CORPORATION
Date:	October 30, 2013
By:	/s/ Gail E. Lehman
	Gail E. Lehman
	Chief Administrative Officer, General Counsel and Corporate Secretary

EXHIBIT INDEX

Exhibit

NumberDescription

99.1    Press release, dated October 30, 2013

99.2    Presentation materials, dated October 30, 2013

99.3    Press release, dated October 30, 2013

EX-99.1

Exhibit 99.1

Noranda Reports Third Quarter2013 Results

Third Quarter2013 Highlights

• Operating activities provided$26.1 million of cash flow, compared to $16.8 million provided in second quarter 2013 and $4.5 millionprovided in third quarter 2012

• Total segment profit was $11.0 million, compared to $25.0 million in second quarter 2013 and $10.1 million in third quarter 2012

• Excluding special items, diluted EPS was a loss of $0.30, compared to a loss of $0.16 in second quarter 2013 and a loss of $0.16 in third quarter 2012

• Reported diluted EPS was a loss of $0.27, compared to a loss of $0.18 in second quarter2013 and income of $0.05 in third quarter 2012

• Primary aluminum shipments were 149.0 million pounds, compared to 148.0 million pounds in second quarter 2013 and 138.8 million pounds in third quarter 2012

• At September 30, 2013, cash and cash equivalents totaled $63.9 million, and available borrowing capacity under the Company's asset-based revolving credit facility was $120.0 million

Franklin, Tennessee – October 30, 2013 – Noranda Aluminum Holding Corporation (NYSE: NOR) today reported results for third quarter2013.

"We are proud to report another quarter of solid financial results and reliable operational performance," said Layle K. “Kip” Smith, Noranda's President and Chief Executive Officer. "We continue to see stable overall demand for our key aluminum products and to realize the positive impact of our actions to drive profitability and free cash flow in today's environment. During the third quarter we generated over $6 million in net cash, despite seasonal peak power premiums and further declines in aluminum prices, and continue to believe in the industry's long-term fundamentals."

"Having surpassed our previous $140 million CORE productivity target during second quarter 2013, we are pleased to announce a new CORE productivity program that targets $225 million of savings from 2014 to 2016. The program includes both a portfolio of traditional small and medium sized projects as well as certain more transformational initiatives that will collectively enhance our profitability and cash flow and create significant shareholder value. We are excited about the opportunities this program creates for Noranda and remain committed through the cycle to making accretive investments in our integrated platform, maintaining a strong balance sheet and prudently returning capital to shareholders."

Third Quarter2013 Results

Excluding special items, Noranda's third quarter 2013 results were a net loss of $20.3 million ($0.30 loss per diluted share), compared to a net loss of $10.6 million ($0.16 loss per diluted share) in second quarter2013 and a net loss of $10.8 million ($0.16 per diluted share) in third quarter 2012 . Reported third quarter 2013 results were a net loss of $18.2 million ($0.27 loss per diluted share), compared to a second quarter2013 net loss of $12.3 million ($0.18 loss per diluted share) and third quarter 2012 net income of $3.8 million ($0.05 per diluted share).

Sales for third quarter 2013 were $339.9 million, compared to $352.0 million in second quarter 2013 and $336.8 million in third quarter 2012.

• Sequentially (comparing third quarter 2013 to second quarter 2013), sales decreased $12.1 million, $9.0 million of which was due to lower third quarter 2013 prices, primarily due to a decline in LME aluminum prices. The remaining portion of the sequential sales decline was attributable to a 2.2% decrease in Flat-Rolled Products segment volumes, as moderate summer temperatures created a shorter selling season for finstock products used in HVAC applications.

• Year-over-year (comparing third quarter 2013 to third quarter 2012), sales increased $3.1 million. This improvement was primarily driven by a $14.3 million impact from improved volumes in the Alumina, Primary Aluminum, and Flat-Rolled Products segments, which more than offset the effects of lower prices in those segments. Improved volumes in the Alumina, Primary Aluminum, and Flat-Rolled Products segments reflected the effectiveness of the Company's CORE productivity program at eliminating production variability issues experienced in the third quarter 2012 which negatively impacted volumes in those segments.

Total third quarter 2013 segment profit was $11.0 million, compared to $25.0 million in second quarter 2013 and $10.1 million in third quarter 2012.

1

• Sequentially, segment profit decreased by $14.0 million, largely due to the Primary Aluminum segment, where seasonal peak power rates and lower realized prices on external shipments had a negative impact of $10.9 million and $4.2 million, respectively.

• Year-over-year, segment profit increased by $0.9 million. This improvement was driven primarily by the increase in revenues discussed above, partially offset by an increase in the cost of power as a result of the January 2013 rate case.

Excluding special items, the Company reported a third quarter 2013 net loss of $20.3 million, compared to a net loss of $10.6 million in second quarter 2013 and third quarter 2012 net loss of $10.8 million.

• The $9.7 million sequential increase in net loss (excluding special items) reflects a $14.0 million ($9.5 million after-tax) decrease in segment profit.

• The $9.5 million year-over-year increase in net loss (excluding special items) reflects an $8.9 million ($6.1 million after-tax) decrease in LIFO-related inventory adjustments, and a $3.7 million ($2.5 million after tax) increase in interest expense. In third quarter 2012, the Company recorded a $10.0 million benefit due to LIFO-related inventory adjustments as an increase in the LME aluminum price during that quarter led to reversals in LCM and LIFO reserves. There were no such LIFO adjustments in third quarter 2013.

Year-to-date Results

Sales for the first nine months of 2013 were $1.0 billion, compared to $1.1 billion in the nine months ended September 30, 2012. Of the $31.7 million decrease in sales, $25.2 million was attributable to lower realized prices in the Alumina, Primary Aluminum, and Flat-Rolled Products segments, primarily due to lower LME aluminum prices in 2013. The remaining portion of the sales decline was largely attributable to lower external shipment volumes in the Alumina segment, where a larger portion of the first quarter volume was directed internally to the Primary Aluminum segment in order to restock the supply chain following third and fourth quarter 2012 production issues in the Alumina segment.

Total segment profit was $72.3 million in the first nine months of 2013 and $103.8 million in the first nine months of 2012. The reduction in segment profit was primarily driven by lower LME aluminum prices and input cost inflation, partially offset by productivity actions under the Company's CORE program.

Segment Information

	Three months ended
	September 30, 2013			June 30, 2013			September 30, 2012
Key Primary Aluminum segment metrics:
Average realized Midwest transaction price (per pound)	$	0.92		$	0.95		$	0.96
Net Cash Cost (per pound shipped)	$	0.89		$	0.83		$	0.92
Total primary aluminum shipments (pounds, in millions)	149.0			148.0			138.8
Segment profit (loss) (in millions):
Bauxite	$	2.3		$	0.7		$	0.3
Alumina	3.9			2.8			1.8
Primary Aluminum	(1.1		)	13.9			3.1
Eliminations	(0.2		)	1.5			0.2
Total integrated upstream business segment profit	4.9			18.9			5.4
Flat-Rolled Products	13.6			14.2			12.0
Corporate	(7.5		)	(8.1		)	(7.3		)
Total segment profit	$	11.0		$	25.0		$	10.1

Bauxite. The Bauxite segment reported a $2.3 million segment profit in third quarter 2013, compared to $0.7 million in second quarter 2013 and $0.3 million in third quarter 2012.

• Sequentially, Bauxite segment results reflect a $1.5 million cumulative positive impact of higher transfer price to the Alumina segment. Aside from the pricing change, Bauxite segment results were relatively unchanged from the second quarter of 2013.

• Year-over year improved operating efficiency in the segment's shipping operations led to a more favorable mix between internal and external shipments, lower demurrage costs and improved segment performance.

Alumina. The Alumina segment reported a $3.9 million segment profit in third quarter 2013, compared to $2.8 million in second quarter 2013 and $1.8 million in third quarter 2012.

• Sequentially, Alumina segment results reflect a $1.8 million positive impact from lower natural gas prices, as well as lower caustic and other raw material prices in third quarter 2013. These positive factors were partially offset by a $2.1 million negative impact from lower LME aluminum prices on LME-indexed internal and external shipments.

2

• Year-over-year Alumina segment results reflect a $3.4 million negative impact on internal and external revenues from lower LME-indexed alumina prices combined with natural gas cost increases. Lower bauxite purchase prices combined with improvement in fixed cost absorption and more reliable operations offset some of the pricing and natural gas cost impact. Third quarter 2012 Alumina segment results were also negatively affected by Hurricane Isaac.

Primary Aluminum. Segment loss in third quarter 2013 was $1.1 million, compared to segment profit of $13.9 million in second quarter 2013 and segment profit of $3.1 million in third quarter 2012.

• Sequentially, Primary Aluminum segment profit decreased by $15.0 million. A $0.03 decrease in the average realized Midwest transaction price for the quarter had a $4.5 million negative impact on segment profit. Additionally, higher fuel adjustment charges and normal seasonal peak power rates had a $10.9 million negative impact on segment profit. These negative factors were partially offset by lower prices for carbon-based and other raw materials.

• Year-over-year Primary Aluminum segment profit decreased by $4.2 million. A $0.04 decrease in the average realized Midwest transaction price had a $6.0 million negative impact on segment profit. Additionally, higher electricity prices, principally due to a rate increase which became effective in January 2013, had a $5.2 million negative impact. These negative factors were partially offset by a $2.4 million positive impact from lower energy usage, as well as lower LME-indexed alumina prices and lower prices for carbon-based commodity inputs.

Net Integrated Aluminum Cash Cost. Net Cash Cost in third quarter 2013 was $0.89, compared to $0.83 in second quarter 2013 and $0.92 in third quarter 2012.

• Sequentially, Net Cash Cost increased by $0.06 per pound, reflecting higher electricity costs due to normal seasonal peak power rates in the Primary Aluminum segment, offset partially by favorable input costs for natural gas and caustic soda in the alumina segment.

Seasonal peak power rates increased the Company's integrated primary aluminum cash cost by approximately $0.07 per pound in third quarter 2013 compared to second quarter 2013. Fourth quarter results will reflect a total benefit of approximately $0.10 per pound due to the lack of seasonal peak power rates. There are no seasonal peak power rates in first or fourth quarters.

• Year-over-Year Net Cash Cost decreased by $0.03 per pound, reflecting the effects of improved operating reliability in the Primary Aluminum and Alumina segments. These improvements were sufficient to offset the negative effect of lower LME-indexed alumina prices on external shipments in the Alumina segment and higher electricity prices in the Primary Aluminum segment following a rate increase which became effective in January 2013.

Flat-Rolled Products. Segment profit in third quarter 2013 was $13.6 million, compared to $14.2 million in second quarter 2013 and $12.0 million in third quarter 2012.

Corporate. Corporate expenses in third quarter 2013 were $7.5 million, compared to $8.1 million in second quarter 2013 and $7.3 million in third quarter 2012. Sequentially, corporate expenses were $0.6 million lower due primarily to lower benefit costs in 2013.

Liquidity and Capital Resources

At September 30, 2013, the Company had $63.9 million of cash and cash equivalents. Available borrowing capacity under the Company's asset-based revolving credit facility was $120.0 million, calculated as of September 30, 2013.

Operating activities provided$26.1 million of cash in third quarter 2013, compared to $16.8 million of cash provided in second quarter 2013 and $4.5 millionprovided in third quarter 2012. The table below summarizes the key drivers behind changes in the Company's cash positions for each period:

	Three months ended
(in millions)	September 30, 2013			June 30, 2013			September 30, 2012
Segment profit	$	11.0		$	25.0		$	10.1
Gas hedges	—			—			(9.6		)
Prepaid expenses and other	(2.6		)	(2.5		)	(8.4		)
Interest paid	(7.5		)	(6.9		)	(5.1		)
Taxes paid	(0.1		)	(6.0		)	(7.3		)
Operating working capital	25.3			7.2			24.8
Cash provided by operating activities	26.1			16.8			4.5
Cash used in investing activities	(16.1		)	(20.0		)	(17.9		)
Cash provided by (used in) financing activities	(3.9		)	44.9			(3.3		)
Change in cash and cash equivalents	6.1			41.7			(16.7		)

3

NORANDA ALUMINUM HOLDING CORPORATION

CONSOLIDATED STATEMENTS OF OPERATIONS

(dollars in millions, except per share data and where noted)

(unaudited)

	Three months ended September 30,						Nine months ended September 30,
	2013			2012			2013			2012
	$			$			$			$
Statements of operations data:
Sales	339.9			336.8			1,030.3			1,062.0
Operating costs and expenses:
Cost of sales	333.3			323.3			973.1			959.4
Selling, general and administrative expenses	23.7			24.3			69.8			64.8
Total operating costs and expenses	357.0			347.6			1,042.9			1,024.2
Operating income (loss)	(17.1		)	(10.8		)	(12.6		)	37.8
Other (income) expense:
Interest expense, net	12.6			8.9			34.9			24.2
(Gain) loss on hedging activities, net	2.4			(25.4		)	—			(62.5		)
Debt refinancing expense	—			—			2.5			8.1
Total other (income) expense, net	15.0			(16.5		)	37.4			(30.2		)
Income (loss) before income taxes	(32.1		)	5.7			(50.0		)	68.0
Income tax expense (benefit)	(13.9		)	1.9			(20.1		)	22.7
Net income (loss)	(18.2		)	3.8			(29.9		)	45.3
Net income (loss) per common share:
Basic	$	(0.27	)	$	0.06		$	(0.44	)	$	0.67
Diluted	$	(0.27	)	$	0.05		$	(0.44	)	$	0.66
Weighted-average common shares outstanding:
Basic	68.01			67.68			67.90			67.49
Diluted	68.01			69.12			67.90			69.10
Cash dividends declared per common share	$	0.04		$	0.04		$	0.12		$	1.37
External sales by segment:
Bauxite	11.1			13.6			33.8			37.3
Alumina	49.5			48.6			142.9			162.1
Primary Aluminum	133.4			129.1			408.6			413.1
Flat-Rolled Products	145.9			145.5			445.0			449.5
Total	339.9			336.8			1,030.3			1,062.0
Segment profit (loss):
Bauxite	2.3			0.3			7.2			3.9
Alumina	3.9			1.8			10.8			29.2
Primary Aluminum	(1.1		)	3.1			37.0			51.9
Flat-Rolled Products	13.6			12.0			41.6			41.1
Corporate	(7.5		)	(7.3		)	(24.3		)	(22.3		)
Eliminations	(0.2		)	0.2			—			—
Total	11.0			10.1			72.3			103.8
Financial and other data:
Average realized Midwest transaction price (per pound)	$	0.92		$	0.96		$	0.97		$	1.01
Net Cash Cost (per pound shipped)	$	0.89		$	0.92		$	0.84		$	0.81
Shipments:
External shipments:
Bauxite (kMts)	466.0			666.1			1,429.1			1,676.9
Alumina (kMts)	159.8			150.7			448.0			479.0
Primary Aluminum (pounds, in millions)	127.4			120.0			373.3			369.1
Flat-Rolled Products (pounds, in millions)	99.9			97.6			295.9			292.8
Intersegment shipments:
Bauxite (kMts)	661.4			601.1			2,056.8			1,897.6
Alumina (kMts)	138.1			120.4			423.1			369.0
Primary Aluminum (pounds, in millions)	21.6			18.8			65.4			58.1

4

NORANDA ALUMINUM HOLDING CORPORATION

CONSOLIDATED BALANCE SHEETS

(in millions, except par value)

(unaudited)

	September 30, 2013		December 31, 2012
	$		$
ASSETS
Current assets:
Cash and cash equivalents	63.9		36.1
Accounts receivable, net	105.7		106.6
Inventories, net	193.7		195.8
Taxes receivable	4.4		2.0
Prepaid expenses	5.5		8.9
Other current assets	14.7		18.9
Total current assets	387.9		368.3
Property, plant and equipment, net	682.4		694.5
Goodwill	137.6		137.6
Other intangible assets, net	56.7		61.2
Other assets	93.4		96.1
Total assets	1,358.0		1,357.7
LIABILITIES AND EQUITY
Current liabilities:
Accounts payable	98.0		107.2
Accrued liabilities	69.5		58.8
Derivative liabilities, net	4.5		1.8
Deferred tax liabilities	10.1		16.8
Current portion of long-term debt	4.9		3.3
Total current liabilities	187.0		187.9
Long-term debt, net	644.2		592.4
Long-term derivative liabilities, net	—		0.1
Pension and other post-retirement benefit ("OPEB") liabilities	186.3		187.2
Other long-term liabilities	50.2		52.3
Long-term deferred tax liabilities	168.8		183.5
Common stock subject to redemption (0.2 shares at December 31, 2012)	—		2.0
Shareholders’ equity:
Preferred stock (25.0 shares authorized, $0.01 par value; no shares issued and outstanding at September 30, 2013 and December 31, 2012)	—		—
Common stock (200.0 shares authorized; $0.01 par value; 68.0 shares issued and outstanding at September 30, 2013; 67.7 shares issued and outstanding at December 31, 2012, including 0.2 shares subject to redemption at December 31, 2012)	0.7		0.7
Capital in excess of par value	238.4		233.4
Retained earnings (accumulated deficit)	(20.2	)	17.9
Accumulated other comprehensive loss	(103.4	)	(105.7	)
Total shareholders’ equity	115.5		146.3
Non-controlling interest	6.0		6.0
Total equity	121.5		152.3
Total liabilities and equity	1,358.0		1,357.7

5

NORANDA ALUMINUM HOLDING CORPORATION

CONSOLIDATED STATEMENTS OF CASH FLOWS

(in millions)

(unaudited)

	Three months ended September 30,				Nine months ended September 30,
	2013		2012		2013		2012
	$		$		$		$
OPERATING ACTIVITIES
Net income (loss)	(18.2	)	3.8		(29.9	)	45.3
Adjustments to reconcile net income (loss) to cash provided by (used in) operating activities:
Depreciation and amortization	24.3		23.6		70.9		70.2
Non-cash interest expense	0.7		0.7		2.0		2.1
Last in, first out and lower of cost or market inventory adjustments	(1.1	)	(10.0	)	1.1		(14.3	)
(Gain) loss on disposal of assets	1.6		1.2		2.2		(1.4	)
Gain on hedging activities, excluding cash settlements	(0.8	)	(38.6	)	(5.7	)	(99.6	)
Debt refinancing expense	—		—		2.5		8.1
Deferred income taxes	(14.7	)	2.0		(23.1	)	2.1
Share-based compensation expense	1.2		0.9		3.4		3.9
Changes in other assets	(0.2	)	(2.6	)	(2.5	)	(6.0	)
Changes in pension, other post-retirement and other long-term liabilities	3.6		(2.4	)	7.8		(1.3	)
Changes in current operating assets and liabilities:
Accounts receivable, net	18.5		13.8		0.8		(15.2	)
Inventories, net	12.3		5.2		1.3		(3.5	)
Taxes receivable and taxes payable	0.9		(6.9	)	(2.8	)	(11.1	)
Other current assets	(2.1	)	2.4		9.7		24.6
Accounts payable	(5.5	)	5.8		(7.6	)	10.3
Accrued liabilities	5.6		5.6		10.7		(28.0	)
Cash provided by (used in) operating activities	26.1		4.5		40.8		(13.8	)
INVESTING ACTIVITIES
Capital expenditures	(16.2	)	(17.9	)	(55.7	)	(59.8	)
Proceeds from sale of property, plant and equipment	0.1		—		0.9		4.8
Cash used in investing activities	(16.1	)	(17.9	)	(54.8	)	(55.0	)
FINANCING ACTIVITIES
Shares tendered for taxes, share-based payment arrangements, net of proceeds from issuance of common shares	0.1		0.2		(0.1	)	0.1
Dividends paid to shareholders	(2.8	)	(2.7	)	(8.2	)	(92.2	)
Distributions paid to share-based award holders	—		—		—		(3.1	)
Repayments of long-term debt	(1.2	)	(0.8	)	(278.8	)	(154.8	)
Borrowings on long-term debt, net	—		—		331.8		322.6
Payments of financing costs	—		—		(2.9	)	(12.6	)
Cash provided by (used in) financing activities	(3.9	)	(3.3	)	41.8		60.0
Change in cash and cash equivalents	6.1		(16.7	)	27.8		(8.8	)
Cash and cash equivalents, beginning of period	57.8		50.6		36.1		42.7
Cash and cash equivalents, end of period	63.9		33.9		63.9		33.9

6

NORANDA ALUMINUM HOLDING CORPORATION

SEGMENT RESULTS

(in millions)

(unaudited)

	Three months ended September 30, 2013
	Bauxite		Alumina		Primary Aluminum		Flat-Rolled Products		Corporate		Eliminations		Consolidated
	$		$		$		$		$		$		$
Sales:
External customers	11.1		49.5		133.4		145.9		—		—		339.9
Intersegment	19.8		35.7		19.6		—		—		(75.1	)	—
Total sales	30.9		85.2		153.0		145.9		—		(75.1	)	339.9
Capital expenditures	1.5		4.2		7.5		2.5		0.5		—		16.2
Reconciliation of segment profit (loss) to operating income (loss):
Segment profit (loss)	2.3		3.9		(1.1	)	13.6		(7.5	)	(0.2	)	11.0
Depreciation and amortization	(2.9	)	(6.0	)	(10.2	)	(5.1	)	(0.1	)	—		(24.3	)
Last in, first out and lower of cost or market inventory adjustments	—		—		2.3		(1.1	)	—		(0.1	)	1.1
Loss on disposal of assets	(0.1	)	—		—		(1.5	)	—		—		(1.6	)
Non-cash pension, accretion and stock compensation	—		(0.2	)	(1.8	)	(1.5	)	(1.6	)	—		(5.1	)
Relocation and severance	—		—		0.1		—		(0.9	)	—		(0.8	)
Cash settlements on hedging transactions	—		—		0.6		2.3		—		—		2.9
Other, net	0.1		(0.1	)	—		0.1		(0.5	)	0.1		(0.3	)
Operating income (loss)	(0.6	)	(2.4	)	(10.1	)	6.8		(10.6	)	(0.2	)	(17.1	)
Interest expense, net													12.6
Loss on hedging activities, net													2.4
Total other expense, net													15.0
Loss before income taxes													(32.1	)

7

NORANDA ALUMINUM HOLDING CORPORATION

SEGMENT RESULTS

(in millions)

(unaudited)

	Three months ended September 30, 2012
	Bauxite		Alumina		Primary Aluminum		Flat-Rolled Products		Corporate		Eliminations		Consolidated
	$		$		$		$		$		$		$
Sales:
External customers	13.6		48.6		129.1		145.5		—		—		336.8
Intersegment	20.0		32.0		18.1		—		—		(70.1	)	—
Total sales	33.6		80.6		147.2		145.5		—		(70.1	)	336.8
Capital expenditures	2.6		4.6		7.1		2.7		0.9		—		17.9
Reconciliation of segment profit (loss) to operating income (loss):
Segment profit (loss)	0.3		1.8		3.1		12.0		(7.3	)	0.2		10.1
Depreciation and amortization	(2.1	)	(5.8	)	(11.0	)	(4.4	)	(0.3	)	—		(23.6	)
Last in, first out and lower of cost or market inventory adjustments	—		—		3.0		6.8		—		0.2		10.0
Gain (loss) on disposal of assets	0.2		—		(1.4	)	—		—		—		(1.2	)
Non-cash pension, accretion and stock compensation	—		(0.2	)	(1.4	)	(1.3	)	(1.1	)	—		(4.0	)
Consulting and sponsor fees	—		—		—		—		(0.2	)	—		(0.2	)
Relocation and severance	—		—		0.1		(0.1	)	(0.1	)	—		(0.1	)
Cash settlements on hedging transactions	—		—		0.2		2.3		—		—		2.5
Other, net (1)	—		—		(3.6	)	(0.1	)	—		(0.6	)	(4.3	)
Operating income (loss)	(1.6	)	(4.2	)	(11.0	)	15.2		(9.0	)	(0.2	)	(10.8	)
Interest expense, net													8.9
Gain on hedging activities, net													(25.4	)
Total other income, net													(16.5	)
Income before income taxes													5.7

⁽¹⁾  In third quarter 2012, the Company expensed $3.5 million of contingency costs related to assembling a back-up labor force during the renegotiation of its collective bargaining agreement at its New Madrid smelter.

8

NORANDA ALUMINUM HOLDING CORPORATION

SEGMENT RESULTS

(in millions)

(unaudited)

	Nine months ended September 30, 2013
	Bauxite		Alumina		Primary Aluminum		Flat-Rolled Products		Corporate		Eliminations		Consolidated
	$		$		$		$		$		$		$
Sales:
External customers	33.8		142.9		408.6		445.0		—		—		1,030.3
Intersegment	62.7		115.5		62.2		—		—		(240.4	)	—
Total sales	96.5		258.4		470.8		445.0		—		(240.4	)	1,030.3
Capital expenditures	8.7		13.1		23.2		8.7		2.0		—		55.7
Reconciliation of segment profit (loss) to operating income (loss):
Segment profit (loss)	7.2		10.8		37.0		41.6		(24.3	)	—		72.3
Depreciation and amortization	(7.9	)	(16.6	)	(31.4	)	(14.4	)	(0.6	)	—		(70.9	)
Last in, first out and lower of cost or market inventory adjustments	—		—		2.7		(3.4	)	—		(0.4	)	(1.1	)
Gain (loss) on disposal of assets	(0.1	)	0.5		0.1		(2.7	)	—		—		(2.2	)
Non-cash pension, accretion and stock compensation	0.1		(0.7	)	(5.3	)	(4.4	)	(4.4	)	—		(14.7	)
Relocation and severance	—		(0.2	)	(0.3	)	(0.1	)	(1.3	)	—		(1.9	)
Consulting fees	—		—		—		—		(0.4	)	—		(0.4	)
Cash settlements on hedging transactions	—		—		1.3		5.3		—		—		6.6
Other, net	—		(0.3	)	—				(0.4	)	0.4		(0.3	)
Operating income (loss)	(0.7	)	(6.5	)	4.1		21.9		(31.4	)	—		(12.6	)
Interest expense, net													34.9
Debt refinancing expense													2.5
Total other expense, net													37.4
Loss before income taxes													(50.0	)

9

NORANDA ALUMINUM HOLDING CORPORATION

SEGMENT RESULTS

(in millions)

(unaudited)

	Nine months ended September 30, 2012
	Bauxite		Alumina		Primary Aluminum		Flat-Rolled Products		Corporate		Eliminations		Consolidated
	$		$		$		$		$		$		$
Sales:
External customers	37.3		162.1		413.1		449.5		—		—		1,062.0
Intersegment	61.8		106.2		58.2		—		—		(226.2	)	—
Total sales	99.1		268.3		471.3		449.5		—		(226.2	)	1,062.0
Capital expenditures	6.6		12.8		27.8		10.4		2.2		—		59.8
Reconciliation of segment profit (loss) to operating income (loss):
Segment profit (loss)	3.9		29.2		51.9		41.1		(22.3	)	—		103.8
Depreciation and amortization	(6.3	)	(16.3	)	(32.9	)	(13.7	)	(1.0	)	—		(70.2	)
Last in, first out and lower of cost or market inventory adjustments	—		—		7.4		7.2		—		(0.3	)	14.3
Gain (loss) on disposal of assets	0.2		—		(3.0	)	4.2		—		—		1.4
Non-cash pension, accretion and stock compensation	(0.1	)	(0.6	)	(4.1	)	(3.7	)	(4.6	)	—		(13.1	)
Relocation and severance	—		—		(0.1	)	(0.2	)	(0.2	)	—		(0.5	)
Consulting fees	—		—		—		—		(0.7	)	—		(0.7	)
Cash settlements on hedging transactions	—		—		0.7		6.3		—		—		7.0
Other, net (1)	—		(0.4	)	(3.5	)	—		(0.2	)	(0.1	)	(4.2	)
Operating income (loss)	(2.3	)	11.9		16.4		41.2		(29.0	)	(0.4	)	37.8
Interest expense, net													24.2
Gain on hedging activities, net													(62.5	)
Debt refinancing expense													8.1
Total other income, net													(30.2	)
Income before income taxes													68.0

⁽¹⁾  In third quarter 2012, the Company expensed $3.5 million of contingency costs related to assembling a back-up labor force during the renegotiation of its collective bargaining agreement at its New Madrid smelter.

10

ADJUSTED EBITDA

(in millions)

(unaudited)

Management uses "Adjusted EBITDA" as a liquidity measure in respect of the ratios disclosed below, as defined in the Company’s debt agreements. As used herein, Adjusted EBITDA means net income before income taxes, net interest expense, depreciation and amortization, adjusted to eliminate certain non-cash expenses and other specified items of income or expense as outlined below (in millions):

									Twelve Months Ended
	Three months ended September 30,				Nine months ended September 30,				September 30,		December 31,
	2013		2012		2013		2012		2013		2012
	$		$		$		$		$		$
Adjusted EBITDA	11.0		0.5		72.3		74.1		95.1		96.9
Last in, first out and lower of cost or market inventory adjustments (a)	1.1		10.0		(1.1	)	14.3		(5.7	)	9.7
Gain (loss) on disposal of assets	(1.6	)	(1.2	)	(2.2	)	1.4		1.4		5.0
Non-cash pension, accretion and stock compensation	(5.1	)	(4.0	)	(14.7	)	(13.1	)	(19.1	)	(17.5	)
Relocation and severance	(0.8	)	(0.1	)	(1.9	)	(0.5	)	(2.3	)	(0.9	)
Consulting fees	—		(0.2	)	(0.4	)	(0.7	)	(0.4	)	(0.7	)
Debt refinancing expense	—		—		(2.5	)	(8.1	)	(2.5	)	(8.1	)
Non-cash derivative gains (b)	0.5		37.4		6.6		99.1		34.2		126.7
Other, net	(0.3	)	(4.2	)	(0.3	)	(4.1	)	(1.1	)	(4.9	)
Depreciation and amortization	(24.3	)	(23.6	)	(70.9	)	(70.2	)	(99.2	)	(98.5	)
Interest expense, net	(12.6	)	(8.9	)	(34.9	)	(24.2	)	(43.8	)	(33.1	)
Income tax	13.9		(1.9	)	20.1		(22.7	)	17.7		(25.1	)
Net income (loss)	(18.2	)	3.8		(29.9	)	45.3		(25.7	)	49.5

^(a)  The Company’s New Madrid smelter and the Company's rolling mills use the LIFO method of inventory accounting for financial reporting and tax purposes. This adjustment restates net income to the FIFO method by eliminating LIFO expenses related to inventories held at the New Madrid smelter and the rolling mills. Product inventories at Gramercy and St. Ann and supplies inventories at New Madrid are stated at lower of weighted-average cost or market, and are not subject to the LIFO adjustment. The Company also reduces inventories to the lower of cost (adjusted for purchase accounting) or market value.

^(b)  At various times, the Company has used derivative financial instruments to mitigate effects of fluctuations in aluminum and natural gas prices. This adjustment eliminates the non-cash gains and losses resulting from fair market value changes of those derivative financial instruments.

Adjusted EBITDA is not a measure of financial performance under U.S. GAAP, and may not be comparable to similarly titled measures used by other companies in the Company’s industry. Adjusted EBITDA should not be considered in isolation from or as an alternative to net income, income from continuing operations, operating income or any other performance measures derived in accordance with U.S. GAAP. Adjusted EBITDA has limitations as an analytical tool and you should not consider it in isolation or as a substitute for analysis of the Company’s results as reported under U.S. GAAP. For example, Adjusted EBITDA excludes certain tax payments that may represent a reduction in cash available to the Company; does not reflect any cash requirements for the assets being depreciated and amortized that may have to be replaced in the future; does not reflect capital cash expenditures, future requirements for capital expenditures or contractual commitments; does not reflect changes in, or cash requirements for, the Company’s working capital needs; and does not reflect the interest expense, or the cash requirements necessary to service interest or principal payments on the Company’s indebtedness. Adjusted EBITDA also includes incremental stand-alone costs and adds back non-cash hedging gains and losses, and certain other non-cash charges that are deducted in calculating net income. However, these are expenses that may recur, vary greatly and are difficult to predict. In addition, certain of these expenses can represent the reduction of cash that could be used for other corporate purposes. You should not consider the Company’s Adjusted EBITDA as an alternative to operating income or net income, determined in accordance with U.S. GAAP, as an indicator of the Company’s operating performance, or as an alternative to cash flows from operating activities, determined in accordance with U.S. GAAP, as an indicator of the Company’s cash flows or as a measure of liquidity.

11

The following table reconciles Adjusted EBITDA to cash flow from operating activities for the periods presented (in millions):

									Twelve Months Ended
	Three months ended September 30,				Nine months ended September 30,				September 30,		December 31,
	2013		2012		2013		2012		2013		2012
	$		$		$		$		$		$
Adjusted EBITDA	11.0		0.5		72.3		74.1		95.1		96.9
Stock compensation expense	1.2		0.9		3.4		3.9		4.3		4.8
Changes in other assets	(0.2	)	(2.6	)	(2.5	)	(6.0	)	(6.8	)	(10.3	)
Changes in pension, other post-retirement liabilities and other long-term liabilities	3.6		(2.4	)	7.8		(1.3	)	13.8		4.7
Changes in current operating assets and liabilities	29.7		25.9		12.1		(22.9	)	40.4		5.4
Changes in current income taxes	(0.8	)	0.1		(3.0	)	(20.6	)	(9.9	)	(27.5	)
Changes in accrued interest	(11.9	)	(8.2	)	(32.9	)	(22.1	)	(41.1	)	(30.3	)
Non-cash pension, accretion and stock compensation	(5.1	)	(4.0	)	(14.7	)	(13.1	)	(19.1	)	(17.5	)
Restructuring, relocation and severance	(0.8	)	(0.1	)	(1.9	)	(0.5	)	(2.3	)	(0.9	)
Consulting and sponsor fees	—		(0.2	)	(0.4	)	(0.7	)	(0.4	)	(0.7	)
Other, net	(0.6	)	(5.4	)	0.6		(4.6	)	(0.5	)	(5.7	)
Cash flow provided by (used in) operating activities	26.1		4.5		40.8		(13.8	)	73.5		18.9

Covenant Compliance and Financial Ratios

The Company's debt agreements do not require it to achieve any financial performance metric or ratio in order to avoid a default (subject, in the case of the senior secured revolving credit facility, to its maintaining minimum availability thereunder). However, such agreements do restrict Noranda AcquisitionCo's and its subsidiaries' ability, among other things, to (i) incur additional indebtedness; (ii) declare or pay dividends or make other distributions or repurchase or redeem its capital stock; (iii) make investments; (iv) sell assets, including capital stock of subsidiaries; (v) enter into agreements restricting its subsidiaries' ability to pay dividends; (vi) consolidate, merge, sell or otherwise dispose of all or substantially all of its assets; (vii) enter into transactions with its affiliates; (viii) incur liens and (ix) engage in certain business activities. Further, certain covenants contained in the Company's debt agreements governing the senior secured credit facilities and the indentures governing the Company's Notes restrict its ability to take certain actions if it is unable to meet certain ratios including, among others:(i) the ratio of Adjusted EBITDA, calculated on a trailing four-quarter basis, to fixed charges (the "Fixed-Charge Coverage Ratio") or (ii) the ratio of Adjusted EBITDA, calculated on a trailing four-quarter basis and subtracting certain cash payments, including certain taxes, capital expenditures and dividends, to fixed charges (the "Revolver Fixed-Charge Coverage Ratio") or (iii) the ratio of senior first-lien secured net debt to Adjusted EBITDA, calculated on a trailing four-quarter basis (the "Net Senior Secured Leverage Ratio"). The actions which could be restricted include incurring additional secured or unsecured debt, expanding borrowings under existing term loan facilities, paying dividends, engaging in mergers, acquisitions and certain other investments, and retaining proceeds from asset sales. Furthermore, the Company's ability to take certain actions, including paying dividends and making acquisitions and certain other investments, depends on the amounts available for such actions under the applicable covenants, which amounts accumulate with reference to Adjusted EBITDA, or Consolidated Net Income (each as defined in the Company's debt agreements), on a quarterly basis.

12

Certain of the minimum or maximum ratio levels set forth in the Company's covenants as conditions to its undertaking certain actions and its actual performance are summarized below:

		Requirements	Actual as of
			September 30, 2013	December 31, 2012
AcquisitionCo Notes (1)	Fixed-Charge Coverage Ratio	Minimum 2.0 to 1.0	1.8 to 1.0	2.8 to 1.0
Revolver (2)	Revolver Fixed-Charge Coverage Ratio	Minimum 1.0 to 1.0	--	--
Term B Loan and Revolver (3)	Total Net Senior First Lien Secured Leverage Ratio	Maximum 2.25 to 1.0	4.3 to 1.0	2.9 to 1.0

⁽¹⁾  For Noranda Aluminum Acquisition Corp, fixed charges on a pro forma basis (giving effect to debt repayments) for the four quarters ended September 30, 2013 and the year ended December 31, 2012 were $52.3 million and $35.2 million, respectively.

⁽²⁾  As defined in the credit agreement governing the Revolver, fixed charges for the four quarters ended September 30, 2013 and the year ended December 31, 2012 were $46.6 million and $33.6 million respectively. For the four quarters ended September 30, 2013, and the year ended December 31, 2012, the Revolver Fixed-Charge Coverage Ratio was less than 1.0 to 1.0.

⁽³⁾  As used in calculating this ratio, "senior first-lien secured net debt" means the amount outstanding under the Term B Loan and the Revolver and any debt secured by a first priority lien on assets of Noranda Aluminum Acquisition Corp and/or any of its subsidiaries, less "unrestricted cash" and "permitted investments" (as defined under the Company's Senior Secured Credit Facilities) up to a cap of $100.0 million. At September 30, 2013 and December 31, 2012, senior first lien secured debt was $479.0 million and $322.6 million, respectively, and unrestricted cash and permitted investments were $63.6 million and $35.8 million, respectively, resulting in senior first lien secured net debt of $415.4 million and $286.8 million, respectively.

Because the Company did not satisfy certain financial ratio levels relevant to these covenants as of September 30, 2013, the Company may be limited in its ability to expand borrowings under existing term loan facilities, incur additional secured or unsecured debt, make acquisitions or certain other investments, or engage in mergers and pay dividends. These restrictions do not interfere with the day-to-day-conduct of the Company's business. Based on the debt agreement provisions pertaining to dividends, the Company does not expect these restrictions to affect its ability to continue paying a quarterly dividend in the foreseeable future, although the Company's Board of Directors retains the ability to change the amount of such dividends, including the right not to declare any such dividends.

Because the Revolver Fixed-Charge Coverage Ratio (as defined above) was less than 1.0 to 1.0 as of September 30, 2013, the Company must maintain at least $20.0 million of available borrowing capacity under its Revolver. Net of the impact of reducing availability by $20.0 million, the Company's available borrowing capacity under the Revolver was $120.0 million, calculated as of September 30, 2013. The Company's debt agreements do not otherwise require it to maintain any financial performance metric or ratio in order to avoid a default.

13

NORANDA ALUMINUM HOLDING CORPORATION

NET CASH COST OF PRIMARY ALUMINUM

(unaudited)

Net cash cost of primary aluminum per pound represents the costs of producing commodity grade aluminum net of value-added premiums on primary aluminum sales. The Company has provided net cash cost per pound of aluminum shipped because it provides investors with additional information to measure operating performance. Using this metric, investors are able to assess the prevailing LME price plus Midwest premium per pound versus unit net costs per pound shipped. Net cash cost per pound is positively or negatively impacted by changes in primary aluminum, alumina and bauxite production and sales volumes, natural gas and oil related costs, seasonality in electrical contract rates, and increases or decreases in other production related costs. Net cash cost per pound is not a measure of financial performance under U.S. GAAP and may not be comparable to similarly titled measures used by other companies. Net cash cost per pound shipped should not be considered in isolation from or as an alternative to any performance measures derived in accordance with U.S. GAAP. The following table shows the calculation of net cash cost of primary aluminum:

	Three months ended September 30,						Nine months ended September 30,
	2013			2012			2013			2012
Total primary aluminum cash cost (in millions)(a)	$	133.0		$	128.1		$	370.5		$	346.1
Total shipments (pounds in millions)	149.0			138.8			438.7			427.2
Net Cash Cost (per pound shipped)	$	0.89		$	0.92		$	0.84		$	0.81
(a) Total primary aluminum cash cost is calculated below (in millions):
Total primary aluminum revenue	$	153.0		$	147.2		$	470.8		$	471.3
Less fabrication premiums and other revenue	(15.1		)	(13.7		)	(45.3		)	(40.2		)
Realized Midwest transaction price revenue	137.9			133.5			425.5			431.1
Primary Aluminum segment profit (loss)	(1.1		)	3.1			37.0			51.9
Alumina segment profit	3.9			1.8			10.8			29.2
Bauxite segment profit	2.3			0.3			7.2			3.9
Profit Eliminations	(0.2		)	0.2			—			—
Total	4.9			5.4			55.0			85.0
Total primary aluminum cash cost (in millions)	$	133.0		$	128.1		$	370.5		$	346.1

14

NORANDA ALUMINUM HOLDING CORPORATION

CALCULATION OF DILUTED EARNINGS (LOSS) PER SHARE,

EXCLUDING SPECIAL ITEMS

(in millions, except per share information)

(unaudited)

"Net income (loss), excluding special items" means net income (loss) adjusted to eliminate the impact of certain transactions and events referred to as "special items," as listed herein. "Diluted earnings (loss) per share, excluding special items" refers to net income (loss) excluding special items, divided by the number of diluted weighted-average common shares outstanding. Management has provided net income (loss), excluding special items and diluted earnings (loss) per share, excluding special items because the measure provides investors with additional information with which to measure operating results. Using these metrics, investors are able to assess the impact of certain transactions and events on earnings and to compare net income (loss) from period to period with the impact of those transactions and events removed from all periods. Management believes this metric is a valuable tool in assisting investors to compare financial results from period to period.

Net income (loss), excluding special items may not be comparable to similarly titled measures used by other companies. Net income (loss), excluding special items should not be considered in isolation from or as an alternative to net income (loss) or any other performance measures derived in accordance with U.S. GAAP. Net income (loss), excluding special items has limitations as an analytical tool and you should not consider it in isolation or as a substitute for analysis of results as reported under U.S. GAAP.

Special items and diluted earnings (loss) per share, excluding special items are outlined below (in millions):

	Three months ended September 30,				Nine months ended September 30,
	2013		2012		2013		2012
	$		$		$		$
	Increase (decrease) to net income				Increase (decrease) to net income
Special items:
Transaction costs (1)	—		—		(2.5	)	(8.6	)
Modification of stock options (2)	—		0.1		—		(1.0	)
Gain on sale of idle mill mill equipment	—		—		—		4.5
(Loss) gain on hedging activities	(2.4	)	25.4		—		62.5
Labor negotiation contingency cost (3)	—		(3.5	)	—		(3.5	)
Total special items (pre-tax)	(2.4	)	22.0		(2.5	)	53.9
Diluted earnings per share, excluding special items:
Pre-tax income (loss)	(32.1	)	5.7		(50.0	)	68.0
Pre-tax impact of special items	2.4		(22.0	)	2.5		(53.9	)
Pre-tax income (loss), excluding special items	(29.7	)	(16.3	)	(47.5	)	14.1
Income tax (benefit) expense, excluding special items (4)	(9.4	)	(5.5	)	(15.1	)	4.7
Net income (loss), excluding special items	(20.3	)	(10.8	)	(32.4	)	9.4
Weighted-average common shares outstanding, diluted (shares, in millions) (5)	68.01		67.68		67.90		69.10
Diluted earnings (loss) per share, excluding special items	(0.30	)	(0.16	)	(0.48	)	0.14

⁽¹⁾  Includes, for the nine months ended September 30, 2013, debt refinancing expense representing the write-off of deferred financing costs and third party fees related to the AcquisitionCo Notes due 2015. Includes, for the nine months ended September 30, 2012, $8.1 million of costs related to the 2012 refinancing and the related tender offer, including creditor and third-party fees as well as the write-off of deferred financing fees. The amount for the nine months ended September 30, 2012 also includes $0.5 million of costs related to the public secondary offering of 10 million shares of common stock by Apollo.

⁽²⁾  During the nine months ended September 30, 2012, holders of stock options, service-vesting restricted stock and restricted stock units were paid cash for the $1.25 per share supplemental dividend. The Company accelerated $1.2 million of share-based payment compensation expense in connection with this award modification. Share-based payment compensation cost related to the modified awards of $0.4 million would have been recognized ratably throughout second, third and fourth quarter 2012 had the modification not occurred.

⁽³⁾  In third quarter 2012, the Company expensed $3.5 million of contingency costs related to assembling a back-up labor force during the renegotiation of its collective bargaining agreement at its New Madrid smelter.

⁽⁴⁾  Income taxes, excluding special items were calculated using the Company's estimated annual effective tax rate from continuing operations, which was 31.8% for the three months ended September 30, 2013 and 33.5% for the three months ended September 30, 2012. Our effective income tax rate for the three months ended September 30, 2013 and for the nine months ended September 30, 2013 was impacted by enacted changes in state income tax laws which affected apportionment methods and income tax rates in certain states. As a result of these changes, we recorded a $3.7 million discrete income tax benefit for the three and nine months ended September 30, 2013.

⁽⁵⁾  For periods with a net loss, potential common shares were excluded from the weighted-average common shares outstanding because these potential shares would have been antidilutive.

15

Forward-Looking Statements

This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements about future, not past, events and involve certain important risks and uncertainties, any of which could cause the Company’s actual results to differ materially from those expressed in forward-looking statements, including, without limitation: the cyclical nature of the aluminum industry and fluctuating commodity prices, which cause variability in earnings and cash flows; a downturn in general economic conditions, including changes in interest rates, as well as a downturn in the end-use markets for certain of the Company’s products; fluctuations in the relative cost of certain raw materials and energy compared to the price of primary aluminum and aluminum rolled products; the effects of competition in Noranda’s business lines; Noranda’s ability to retain customers, a substantial number of which do not have long-term contractual arrangements with the Company; the ability to fulfill the business’s substantial capital investment needs; labor relations (i.e. disruptions, strikes or work stoppages) and labor costs; unexpected issues arising in connection with Noranda’s operations outside of the United States; the ability to retain key management personnel; and Noranda’s expectations with respect to its acquisition activity, or difficulties encountered in connection with acquisitions, dispositions or similar transactions.

Forward-looking statements contain words such as "believes," "expects," "may," "should," "seeks," "approximately," "intends," "plans," "estimates," or "anticipates" or similar expressions that relate to Noranda’s strategy, plans or intentions. All statements Noranda makes relating to its estimated and projected earnings, margins, costs, expenditures, cash flows, growth rates and financial results or to the Company’s expectations regarding future industry trends are forward-looking statements. Noranda undertakes no obligation to publicly update or revise any forward-looking statement as a result of new information, future events or otherwise except as otherwise required by law. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date on which they are made and which reflect management's current estimates, projections, expectations or beliefs.

For a discussion of additional risks and uncertainties that may affect the future results of Noranda, please see the Company’s filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K and its Quarterly Reports on Form 10-Q.

Non-GAAP Financial Measures

This press release and the presentation slides for the earnings call contain non-GAAP financial measures as defined by SEC rules. Management believes that these measures are helpful to investors in measuring financial performance and comparing performance to that of its peers. However, these non-GAAP financial measures may not be comparable to similarly titled non-GAAP financial measures used by other companies. These non-GAAP financial measures have limitations as an analytical tool and should not be considered in isolation or as a substitute for U.S. GAAP financial measures. To the extent non-GAAP financial measures are discussed on the earnings call, a reconciliation of each measure to the most directly comparable U.S. GAAP measure will be available within this press release or within the presentation slides filed as Exhibit 99.2 to the Current Report on Form 8-K furnished to the SEC concurrent with the issuance of this press release.

About the Company

Noranda Aluminum Holding Corporation is a leading North American integrated producer of value-added primary aluminum products, as well as high quality rolled aluminum coils. Noranda is a public company affiliated with its private equity sponsor.

For Question-and-Answer Participants

Participants are strongly encouraged to pre-register for the conference call using the URL below, as it will expedite entry into the conference call. Pre-registrants are issued an individual PIN number that provides immediate access into the live conference call. If you do not wish to pre-register, please dial the appropriate number below at least 15 minutes prior to the start of the call to participate in the question-and-answer session.

Preregistration URL: https://www.theconferencingservice.com/prereg/key.process?key=PENTDQ4LQ

U.S. participants: 888-713-4205

International participants: 617-213-4862

Participant Passcode: 80556924

Contact

Noranda Aluminum Holding Corporation

John A. Parker

Vice President of Communication and Investor Relations

(615) 771-5734

john.parker@noralinc.com

16

EX-99.2

3rd Quarter 2013 Earnings Conference Call Noranda Aluminum Holding Corp October 30, 2013 10:00 AM Eastern / 9:00 AM Central Exhibit 99.2

The presentation and comments made by Noranda’s management on the quarterly conference call contain “forward- looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements about future, not past, events and involve certain important risks and uncertainties, any of which could cause the Company’s actual results to differ materially from those expressed in forward-looking statements, including, without limitation: the cyclical nature of the aluminum industry and fluctuating commodity prices, which cause variability in earnings and cash flows; a downturn in general economic conditions, including changes in interest rates, as well as a downturn in the end-use markets for certain of the Company’s products; fluctuations in the relative cost of certain raw materials and energy compared to the price of primary aluminum and aluminum rolled products; the effects of competition in Noranda’s business lines; Noranda’s ability to retain customers, a substantial number of which do not have long-term contractual arrangements with the Company; the ability to fulfill the business’ substantial capital investment needs; labor relations (i.e. disruptions, strikes or work stoppages) and labor costs; unexpected issues arising in connection with Noranda’s operations outside of the United States; the ability to retain key management personnel; and Noranda’s expectations with respect to its acquisition activity, or difficulties encountered in connection with acquisitions, dispositions or similar transactions. Forward-looking statements contain words such as “believes,” “expects,” “may,” “should,” “seeks,” “approximately,” “intends,” “plans,” “estimates,” “anticipates” or similar expressions that relate to Noranda’s strategy, plans or intentions. All statements Noranda makes relating to its estimated and projected earnings, margins, costs, expenditures, cash flows, growth rates and financial results or to the Company’s expectations regarding future industry trends are forward-looking statements. Noranda undertakes no obligation to publicly update or revise any forward-looking statement as a result of new information, future events or otherwise, except as otherwise required by law. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date on which they are made and which reflect management's current estimates, projections, expectations or beliefs. For a discussion of additional risks and uncertainties that may affect the future results of Noranda, please see the Company’s filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. Forward-Looking Statements 2

Ove rv ie w Key Takeaways • We delivered solid 3Q financial results, with positive cash flow despite seasonal peak power rates and lower LME prices • We are taking actions to improve our operating results and liquidity; expecting cash flow breakeven for 2H-13, productivity targets are $225 million for 2014-2016 • Our liquidity and our debt profile, stable operations and transformational improvement plans support our ability to create value across the cycle • Our outlook supports our previously communicated key operating metrics for 2013, with a stable demand and input cost environment for 2014 Financial Highlights • Cash from operating activities—$26.1 million • Total segment profit—$11.0 million • Primary aluminum shipments—149 million pounds • Liquidity(1)—$184 million o No funds drawn under the Incremental ABL at quarter-end o No funded-debt maturities until 2019 3rd Quarter 2013 Financial Highlights 3 (1) Liquidity includes $120 million available borrowing capacity under the revolving credit facility plus $64 million cash

289 271 262 276 298 298 0 50 100 150 200 250 300 350 Q2-12 Q3-12 Q4-12 Q1-13 Q2-13 Q3-13 K m ts CGA External SGA External SGA Intercompany 102 98 87 94 102 100 0 20 40 60 80 100 120 140 Q2-12 Q3-12 Q4-12 Q1-13 Q2-13 Q3-13 Po un ds in m illi on s Primary Aluminum Shipments Bauxite Shipments 4 Quarterly Shipment Information Flat-Rolled Product Shipments 146 139 145 142 148 149 5 100 150 Q2-12 Q3-12 Q4-12 Q -13 Q2-13 Q -13 Po un ds in m illi on s Value-Added External sow Intercompany Alumina Shipments 1,162 1,267 1,185 1,209 1,149 1,127 0 300 600 90 1,200 1,500 Q2-12 Q3- 2 Q4-12 Q1-1 Q2-13 Q3-13 K m ts Internal ExternalD e man d

We continue to believe in aluminum’s long-term fundamentals • Aluminum’s strength-to-weight and value-to- weight characteristics, combined with trends toward environmental sustainability, drive positive aluminum demand fundamentals • The global economy is becoming more aluminum- intensive We have seen positive signs of rationalizing marginal capacity • Aluminum prices near historical lows in real terms have lead to 3.7 million MT curtailed in 2012/13. • 35% of global production operating at a loss, indicating that current price level is unsustainable. Global primary aluminum demand is accelerating(2) • Global manufacturing activity (proxy for primary aluminum demand) expanded in September at its fastest rate since May 2011(2) • US extrusions shipments grew in July at the fastest annual pace (5.3%) in nine months, while US flat rolled products grew year-over-year after two months of contraction(2) Aluminum’s Favorable Long-term Fundamentals Sna p shot o f Alumi n um Fundam e nta ls 5 Sources: (1) CRU (2) Harbor Year-over-Year LME Trends $0.50 $0.60 $0.70 $0.80 $0.90 $1.00 $1.10 $1.20 0 4 8 1 2 1 7 2 2 2 5 2 7 3 0 3 3 3 6 3 8 4 0 4 2 4 4 4 5 4 7 4 8 4 9 5 0 $/lb Million Metric Tonnes of Production 35% of global production is operating at a loss at current prices 2013 Smelter Business Cost Curve(1) $0.60 $0.65 $0.70 $0.75 $0.80 $0.85 $0.90 $0.95 $1.00 $1.05 4/ 1 4/ 8 4/1 5 4/2 2 4/2 9 5/ 6 5/1 3 5/2 0 5/2 7 6/ 3 6/1 0 6/1 7 6/2 4 7/ 1 7/ 8 7/1 5 7/2 2 7/2 9 8/ 5 8/1 2 8/1 9 8/2 6 9/ 2 9/ 9 9/1 6 9/2 3 9/3 0 2013 2012 Average Prices 4/1 to 9/30: 2012 = $0.89/lb; 2013 = $0.82/lb $1.05 $0.81 $0.99 $0.82 $0.70 $0.75 $0.80 $0.85 $0.90 $0.95 $1.00 $1.05 $1.10 Cash LME $/lb Two Year LME Price Trend

Productivity Compliments Growth in Creating Value P rodu c ti v it y 6 Strong Track Record of Productivity 2011-13 CORE Program: Contribution by Type • CORE = Cost Out, Reliability & Effectiveness − Designed to offset input cost inflation, drive continuous improvement • CORE program is fundamental to Noranda’s integrated strategy − Integration provides opportunity to manage a larger portion of production costs • CORE program generates: − EBITDA through volume growth, cost savings and avoidance − Capital expenditure savings and avoidance − Working capital reduction • Noranda has a stable track record of CORE program achievement − Surpassed $140 million 2011-13 CORE target in 2Q-13. EBITDA, 76% Working Capital, 9% Capex, 15% $69 $123 $175 2011 2012 2013YTD 2011-13 CORE Program Cumulative productivity by year ($ in millions) 2011-13 CORE Program: Contribution by Segment Bauxite, 16% Alumina, 27% Primary, 34% Flat-Rolled, 20% 2011-13 CORE Program included nearly 600 separate projects

Illustrative 2013 CORE Program Successes P rodu c ti v it y 7 Bauxite • ~$3 million savings by improving load out rates Alumina • Over $6 million saved by improving processes of planning and executing plant turnarounds Primary • ~$6 million savings from the avoidance of issues typically associated with summer months • ~$2 million of savings from optimizing billet production process Flat-Rolled • $0.8 million savings from reclaiming rolling oils typically lost during process YTD 2013 CORE Program has yielded ~ $52 million of productivity improvements These are just a few examples from the nearly 200 projects which comprise our 2013 CORE program.

Productivity and Liquidity Improvement Program P rodu c ti v it y & Liquidi ty P rese rv atio n 8 • Evaluate effectiveness & efficiency of organizational structure • Includes review of comp & benefits Functional streamlining • Improve usage rates and eliminate cost activities at each step in value-chain Production Processes • Identify alternative sources, more favorable pricing for key inputs Strategic Sourcing • Grow capacity by improving utilization & de-bottlenecking • Improve operational predictability Reliability & Effectiveness Key 2014-16 CORE Program Tenets 2014-16 CORE Program – Contribution by Type • 2014-16 CORE program targets $225 million in productivity − Builds on success of a CORE program that since 2009 has created over $295 million of productivity − Includes portfolio of traditional small and medium sized projects −Also includes certain more transformational initiatives −Collectively, these projects will enhance our profitability and cash flow and create significant shareholder value EBITDA, 95% Working Capital, 3% Capex, 5% Estimate

Overview of Nora nda’s Investm en t M odel Capital Allocation Framework 9 Attractive Industry Fundamentals Noranda Competitive Strengths Shareholder Value Creation Business Reinvestment Cash Returns Regular dividends Supplemental dividends Productivity (CORE) Capital investment Balance Sheet Maintain liquidity and financial flexibility Noranda is committed to investing to enhance its integrated platform while maintaining a healthy balance sheet, and providing prudent cash returns to shareholders

R esu lts O ve rv ie w TTM MWTP $1.02 $0.99 $0.98 $0.80 $0.85 $0.90 $0.95 $1.00 $1.05 $1.10 Q3-12 Q2-13 Q3-13 $ pe r p ou nd TTM Revenue TTM Net Cash Cost $135 $102 $103 $0 $20 $40 $60 $80 $100 $120 $140 $160 Q3-12 Q2-13 Q3-13 $ i n m illi on s Key Performance Indicators – Trailing Twelve Months (“TTM”) 10 $0.82 $0.84 $0.84 0.20 0.30 0.40 $0.50 $0.60 $0.70 $0.80 $0.90 Q3-12 Q2-13 Q3-13 $ p er p ou nd TTM Segment Profit $1,4 1 $1,360 $1,363 $900 $1,000 $1,100 1,2 0 1,300 $1,400 $1,500 Q3-12 2-13 Q3-13 $ i n m illi on s

Se g men t R esu lt s 11 Segment Profit Summary Q3 2012 Q2 2013 Q3 2013 Integrated upstream segment profit $5.4 $18.9 $4.9 Flat-Rolled Products segment profit 12.0 14.2 13.6 Corporate costs (7.3) (8.1) (7.5) Total segment profit $10.1 $25.0 $11.0

12 Upstream Segment Profit Q3 2012 Q2 2013 Q3 2013 Average realized Midwest transaction price $ 0.96 $ 0.95 $ 0.92 Net Cash Cost 0.92 0.83 0.89 Integrated upstream margin per pound $ 0.04 $ 0.12 $ 0.03 Total Primary Aluminum segment shipments 138.8 148.0 149.0 Integrated upstream segment profit $ 5.4 $ 18.9 $ 4.9 Se gm ent R es u lt s

In te g ra te d Net Cash Cos t 13 Sequential Segment Profit and Net Cash Cost Bridge $0.89 $0.02 $0.01 $0.07 $0.83 $0.50 $0.55 $0.60 $0.65 $0.70 $0.75 $0.80 $0.85 $0.90 $0.95 Q2 2013 Net Cash Cost Favorable Raw Materials Cost - Alumina LME Price Impact (Offset Sales) Electricity (Peak Power) Q3 2013 Net Cash Cost $ pe r p o u n d $11.0 $4.2 $10.9 $2.0 $3.1 $25.0 $5 $10 $15 $20 $25 $30 Q2 2013 Segment Profit Favorable Raw Materials Cost - Alumina LME / MWP Price Impact Electricity (Peak Power) Other Q3 2013 Segment Profit $ in m illi o n s

In te g ra te d Net Cash Cos t 14 Year-over-Year Segment Profit and Net Cash Cost Bridge $0.89 $0.05 $0.02 $0.02 $0.02 $0.04 $0.92 $0.50 $0.55 $0.60 $0.65 $0.70 $0.75 $0.80 $0.85 $0.90 $0.95 $1.00 Q3 2012 Net Cash Cost Improved Bauxite/ Alumina Operations Other Primary and Flat-Rolled Productivity Favorable Raw Materials Cost LME Price Impact (Offset Sales) Electricity (Rate Increase, Fuel Charges) Q3 2013 Net Cash Cost $ pe r p o u n d $11.0 $8.2 $5.2 $6.4 $3.4 $2.3 $2.2 $10.1 $- $10 $20 $30 Q3 2012 Segment Profit Improved Bauxite/ Alumina Operations Other Primary and Flat-Rolled Productivity Improved Value- Added/ Fabrication Premiums Favorable Raw Materials Cost LME / MWP Price Impact Electricity (Rate Increase, Fuel Charges) Q3 2013 Segment Profit $ in m illi o n s

Ne t In c ome (Los s) , E x c ludin g Sp e cia l It e m s 15 Bridge of Segment Profit to Net Income, Excluding Special Items Q3 2012 Q2 2013 Q3 2013 Segment profit $ 10.1 $ 25.0 $ 11.0 LIFO/LCM 10.0 (1.4) 1.1 Other recurring non-cash items (4.0) (3.9) (4.9) EBITDA, excluding special items 16.1 19.7 7.2 Depreciation and amortization (23.6) (23.4) (24.3) Interest expense, net (8.9) (12.2) (12.6) Pre-tax income (loss), excluding special items (16.4) (15.9) (29.7) Income tax (expense) benefit 5.5 5.3 9.4 Net income (loss), excluding special items $ (10.9) $ (10.6) $ (20.3)

Financia l Mana g em e nt Revie w 16 Liquidity and Capitalization Highlights $2.5 $7.6 $1.2 $16.1 $2.8 $11.0 $25.3 $57.8 $82.8 $63.9 $0 $10 $20 $30 $40 $50 $60 $70 $80 $90 $100 Cash, June 2013 Segment Profit Operating Working Capital Taxesand other Cash Payments of Interest Term B Loan Payment Cash Available for Investment, Distribution Capital Expenditures Regular Dividends Cash, September 2013 $ in m illi o n (1) Liquidity represents $120 million available borrowing capacity under the revolving credit facility plus $64 million cash • Net debt (debt minus cash) – $585.2 million • Net debt to trailing twelve month segment profit – 5.7x • Cash flow positive in quarter, increasing cash by $6 million • No funded debt maturities before 2019 • Liquidity - $184 million(1)

We delivered solid 3Q financial results, with positive cash flow despite seasonal peak power rates and lower LME prices – Reliable operations and a focus on liquidity generated over $6 million of net cash in quarter – Strong shipment volumes, with stable value-added and fabrication premiums for key aluminum products – Key performance metrics were consistent with previously communicated expectations We are taking actions to improve our operating results and liquidity – Expecting cash flow breakeven for 2H-13 – Targeting $225 million of productivity for 2014-2016 – Dividend reduction supports retaining cash to invest in business and maintain a strong balance sheet Our liquidity and our debt profile, stable operations and transformational improvement plans support our ability to create value across the cycle – Approximately $184 million of liquidity as of end of 3Q-13(1) – No funded debt maturities until 2019 Our outlook supports our previously communicated key operating metrics for 2013, with stable a overall demand and input cost environment heading into 2014 – Primary segment shipments and value-added product premiums stable, with typical 4Q seasonality – Flat-Rolled Product showing indications of steep 4Q seasonality – Key input prices remain stable Key Takeaways 17 1 2 Summa ry 3 4 (1) Represents $120 million available borrowing capacity under the revolving credit facility plus $64 million cash

Non-GAAP Measure: Disclaimer No n -GA A P M ea sure: Disclaim er This presentation contains non-GAAP financial measures as defined by SEC rules. We believe these measures are helpful to investors in measuring our financial performance and comparing our performance to our peers. However, our non-GAAP financial measures may not be comparable to similarly titled non- GAAP financial measures used by other companies. These non-GAAP financial measures have limitations as an analytical tool and should not be considered in isolation or as a substitute for U.S. GAAP financial measures. To the extent we disclose any non-GAAP financial measures, a reconciliation of each measure to the most directly comparable U.S. GAAP measure is available in the Press Release included as an exhibit to the Current Report on Form 8-K to which this presentation is also an exhibit. As such, this presentation should be read in conjunction with our Press Release. 18

EX-99.3

Exhibit 99.3

Noranda Declares Quarterly Dividend on Common Stock

Franklin, Tennessee – October 30, 2013– Noranda Aluminum Holding Corporation (NYSE: NOR) announced today that its Board of Directors has declared a regular quarterly dividend of $0.01 per share to be paid on December 5, 2013 to shareholders of record as of November 12, 2013.

“In the context of the current aluminum price environment, we have undertaken a strategic review of our capital allocation,” said Layle K. “Kip” Smith, Noranda’s President and Chief Executive Officer. “The conclusion of this review is a decision to retain more of our cash to make accretive investments in our business and maintain a strong balance sheet in the face of below average LME levels. Accordingly, we have decided to reduce our quarterly dividend in support of these strategic objectives and remain committed to the prudent return of capital to shareholders.”

Changes in the Company's financial condition and cash needs could result in future dividends being declared in different amounts, or not at all.

About the Company

Noranda Aluminum Holding Corporation is a leading North American integrated producer of value-added primary aluminum products, as well as high quality rolled aluminum coils. Noranda is a public company affiliated with its private equity sponsor.

Contact Information

John A. Parker

Vice President of Communication and Investor Relations

(615) 771-5734

john.parker@noralinc.com