NOR

Franklin, Tennessee - March 11, 2016 - Noranda Aluminum Holding Corporation (OTC: NORNQ) ("Noranda" or the "Company") today announced that the United States Bankruptcy Court for the Eastern District of Missouri has entered a final order granting the Company authority to access up to $165 million in debtor-in-possession (DIP) financing. With this order, all of the Company's first-day motions, including one seeking authorization to continue to pay employee wages, salaries and health and disability benefits, have been approved by the Court. Collectively, the final Court orders will help ensure that Noranda is in a position to continue to operate its business in the ordinary course while the Company evaluates the value-maximizing options for its various business operations.

Kip Smith, Noranda's President and Chief Executive Officer, said, "We are pleased that the Court has given final approval for our DIP financing, which provides more than $35 million in incremental liquidity, and the other First Day motions, so we can continue moving forward in our restructuring process. The Court's orders should provide our stakeholders with confidence in our ability to continue operating our business as well as underscore the progress we are making with respect to our restructuring efforts."

As previously announced, on February 8, 2016, Noranda and all of its wholly owned direct and indirect subsidiaries voluntarily commenced a court-supervised reorganization process under Chapter 11 of the Bankruptcy Code. The Company intends to use the court-supervised process to stabilize its upstream operations as it explores ways to make them economically viable. The Company's Alumina business located in Gramercy, Louisiana, which continues to operate at full production, successfully completed the expansion of its non-metallurgical or chemical business product capacity by approximately 50% at the end of February. The Company's downstream Flat-Rolled Products business, which is profitable and generates positive cash flow, continues to serve customers in the ordinary course. Noranda has filed with the Court a motion seeking approval of bidding procedures for a court-supervised auction process for its Flat-Rolled Products business, and a hearing regarding those procedures is scheduled for March 21, 2016.

Additional Information

Additional information is available on the restructuring page of the Company's website, www.norandaaluminum.com/restructuring. Court filings and other information related to the court-supervised proceedings are available at a website administered by the Company's claims agent, Prime Clerk, at http://cases.primeclerk.com/noranda. The Company has also established a Restructuring Hotline at 855-410-7360 (U.S.), or 646-795-6965 (international), as well as a Customer Hotline at 855-252-2156 (U.S.), or 917-651-0441 (international).

Forward-Looking Statements

For this press release, statements that are not purely historical are "forward looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934.  Forward-looking statements may be identified by the words "believe," "expect," "anticipate," "plan," "intend," "will" and other similar expressions.  All forward-looking statements made by Noranda are predictions and not guarantees of future performance and are subject to various risks, uncertainties and factors relating to Noranda's operations and business environment, and the progress of its Chapter 11 Case, all of which are difficult to predict and many of which are beyond Noranda's control, which could cause Noranda's actual results to differ materially from those matters expressed in or implied by these forward-looking statements. Such factors include, but are not limited to: those described under the "Risk Factors" section and elsewhere in Noranda's Annual Report on Form 10-K for the fiscal year ended December 31, 2014 and its Quarterly Reports on Form 10-Q for the quarters ended March 31, 2015, June 30, 2015 and September 30, 2015, which are available on Noranda's website www.norandaaluminum.com and on the Securities and Exchange Commission's website at www.sec.gov; unfavorable economic, financial and business conditions; risks and uncertainties relating to the chapter 11 filing by Noranda; Noranda's ability to obtain Bankruptcy Court approval with respect to motions filed in the Chapter 11 Case, including with respect to its debtor-in-possession financing facilities; the effectiveness of any strategies employed by Noranda with respect to its overall restructuring activities, including those intended to address liquidity and capital resources issues; potential adverse effects of the Chapter 11 Case on Noranda's liquidity, results of operations, and relationships with key constituents; any actions taken by creditors, regulators, or other third parties during the pendency of the Chapter 11 Case; the length of time that Noranda will operate under Chapter 11 protection and its continued ability to access operating capital during the pendency of the proceedings; risks associated with third party motions in the Chapter 11 Case, which may interfere with Noranda's ability to confirm and consummate a Chapter 11 plan; and the ability of the debtors to negotiate, develop, confirm and substantially consummate a Chapter 11 plan.

Forward-looking statements made by Noranda in this press release, or elsewhere, speak only as of the date on which the statements were made. New risks and uncertainties arise from time to time, and it is impossible for Noranda to predict these events or how they may affect it or its anticipated results.  Noranda assumes no obligations to update any forward-looking statements made in this press release to reflect subsequent events or circumstances or actual outcomes. 

About the Company

Noranda is an integrated producer of primary aluminum and high-quality rolled aluminum coils. The Company has two businesses: an Upstream Business and a Downstream Business. The Upstream Business is one of the largest non-metallurgical or chemical grade alumina producers in North America. The Downstream, or Flat-Rolled Products Business, is one of the largest aluminum foil producers in North America, and consists of four rolling mill facilities.

Media Inquiries

John A. Parker
Vice President of Communication and Investor Relations
(615) 771-5734
john.parker@noralinc.com

Michael Freitag
Joele Frank, Wilkinson Brimmer Katcher
(212) 355-4449

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