Condensed consolidating financial information

Our 2021 Notes are guaranteed by each of our material existing and future domestic subsidiaries (The "Guarantor Subsidiaries"), except for Nordural US LLC, Century Aluminum Development LLC and Century Aluminum of West Virginia, Inc. The Guarantor Subsidiaries are 100% owned by Century. All guarantees are full and unconditional; all guarantees are joint and several. These notes are not guaranteed by our foreign subsidiaries (such foreign subsidiaries, Nordural US LLC, Century Aluminum Development LLC and Century Aluminum of West Virginia, Inc., collectively the “Non-Guarantor Subsidiaries”). We allocate corporate expenses or income to our subsidiaries and charge interest on certain intercompany balances.

The following summarized condensed consolidating statements of comprehensive income (loss) for three and six months ended June 30, 2017 and 2016, condensed consolidating balance sheets as of June 30, 2017 and December 31, 2016 and the condensed consolidating statements of cash flows for the six months ended June 30, 2017 and 2016 present separate results for Century, the Guarantor Subsidiaries, the Non-Guarantor Subsidiaries, consolidating adjustments and total consolidated amounts.



Condensed Consolidating Statements of Comprehensive Income (Loss)
For the three months ended June 30, 2017
	The Company			Combined Guarantor Subsidiaries			Combined Non-Guarantor Subsidiaries			Consolidating Adjustments			Total Consolidated
NET SALES:
Related parties	$	—		$	134,850		$	161,421		$	—		$	296,271
Other customers	—			92,496			35			—			92,531
Total net sales	—			227,346			161,456			—			388,802
Cost of goods sold	—			220,553			145,789			—			366,342
Gross profit	—			6,793			15,667			—			22,460
Selling, general and administrative expenses	8,914			—			438			—			9,352
Other operating expense - net	—			—			180			—			180
Operating income (loss)	(8,914		)	6,793			15,049			—			12,928
Interest expense	(5,035		)	(382		)	(44		)	—			(5,461		)
Intercompany interest	9,213			2,147			(11,360		)	—			—
Interest income	49			(1		)	235			—			283
Net gain on forward and derivative contracts	—			2,644			313			—			2,957
Other income (expense) - net	(110		)	114			(1,880		)	—			(1,876		)
Income (loss) before income taxes and equity in earnings of joint ventures	(4,797		)	11,315			2,313			—			8,831
Income tax (expense) benefit	529			(493		)	(1,488		)	—			(1,452		)
Income (loss) before equity in earnings of joint ventures	(4,268		)	10,822			825			—			7,379
Equity in earnings (loss) of joint ventures	11,399			1,667			(248		)	(13,066		)	(248		)
Net income	$	7,131		$	12,489		$	577		$	(13,066	)	$	7,131
Other comprehensive income (loss) before income tax effect	(142		)	(1,467		)	481			986			(142		)
Income tax effect	311			—			11			(11		)	311
Other comprehensive income (loss)	169			(1,467		)	492			975			169
Total comprehensive income (loss)	$	7,300		$	11,022		$	1,069		$	(12,091	)	$	7,300



Condensed Consolidating Statements of Comprehensive Income (Loss)
For the three months ended June 30, 2016
	The Company			Combined Guarantor Subsidiaries			Combined Non-Guarantor Subsidiaries			Consolidating Adjustments			Total Consolidated
NET SALES:
Related parties	$	—		$	169,640		$	144,557		$	(23,914	)	$	290,283
Other customers	—			36,462			9			—			36,471
Total net sales	—			206,102			144,566			(23,914		)	326,754
Cost of goods sold	—			211,586			133,390			(23,804		)	321,172
Gross profit (loss)	—			(5,484		)	11,176			(110		)	5,582
Selling, general and administrative expenses	8,261			—			1,684			—			9,945
Other operating expense - net	—			—			578			—			578
Operating income (loss)	(8,261		)	(5,484		)	8,914			(110		)	(4,941		)
Interest expense	(5,070		)	(383		)	(44		)	—			(5,497		)
Intercompany interest	9,727			1,997			(11,724		)	—			—
Interest income	38			9			124			—			171
Net gain on forward and derivative contracts	—			353			—			—			353
Other income (expense) - net	(137		)	21			(183		)	—			(299		)
Loss before income taxes and equity in earnings of joint ventures	(3,703		)	(3,487		)	(2,913		)	(110		)	(10,213		)
Income tax (expense) benefit	848			—			(529		)	—			319
Loss before equity in earnings of joint ventures	(2,855		)	(3,487		)	(3,442		)	(110		)	(9,894		)
Equity in earnings (loss) of joint ventures	(6,660		)	—			379			6,660			379
Net loss	$	(9,515	)	$	(3,487	)	$	(3,063	)	$	6,550		$	(9,515	)
Other comprehensive income (loss) before income tax effect	1,206			777			304			(1,081		)	1,206
Income tax effect	(382		)	—			9			(9		)	(382		)
Other comprehensive income (loss)	824			777			313			(1,090		)	824
Total comprehensive income (loss)	$	(8,691	)	$	(2,710	)	$	(2,750	)	$	5,460		$	(8,691	)



Condensed Consolidating Statements of Comprehensive Income (Loss)
For the six months ended June 30, 2017
	The Company			Combined Guarantor Subsidiaries			Combined Non-Guarantor Subsidiaries			Consolidating Adjustments			Total Consolidated
NET SALES:
Related parties	$	—		$	265,918		$	310,926		$	—		$	576,844
Other customers	—			177,679			65			—			177,744
Total net sales	—			443,597			310,991			—			754,588
Cost of goods sold	—			434,304			280,973			—			715,277
Gross profit	—			9,293			30,018			—			39,311
Selling, general and administrative expenses	19,114			—			940			—			20,054
Other operating expense - net	—			—			1,153			—			1,153
Operating income (loss)	(19,114		)	9,293			27,925			—			18,104
Interest expense	(10,183		)	(761		)	(88		)	—			(11,032		)
Intercompany interest	18,195			4,228			(22,423		)				—
Interest income	129			(1		)	385			—			513
Net gain (loss) on forward and derivative contracts	—			(13,203		)	23			—			(13,180		)
Other income (expense) - net	677			161			(2,330		)	—			(1,492		)
Income (loss) before income taxes and equity in earnings of joint ventures	(10,296		)	(283		)	3,492			—			(7,087		)
Income tax (expense) benefit	1,100			—			(2,244		)	—			(1,144		)
Income (loss) before equity in earnings of joint ventures	(9,196		)	(283		)	1,248			—			(8,231		)
Equity in earnings of joint ventures	1,188			2,520			223			(3,708		)	223
Net income (loss)	$	(8,008	)	$	2,237		$	1,471		$	(3,708	)	$	(8,008	)
Other comprehensive income (loss) before income tax effect	1,644			(161		)	829			(668		)	1,644
Income tax effect	(763		)	—			19			(19		)	(763		)
Other comprehensive income (loss)	881			(161		)	848			(687		)	881
Total comprehensive income (loss)	$	(7,127	)	$	2,076		$	2,319		$	(4,395	)	$	(7,127	)



Condensed Consolidating Statements of Comprehensive Income (Loss)
For the six months ended June 30, 2016
	The Company			Combined Guarantor Subsidiaries			Combined Non-Guarantor Subsidiaries			Consolidating Adjustments			Total Consolidated
NET SALES:
Related parties	$	—		$	331,760		$	286,211		$	(47,311	)	$	570,660
Other customers	—			74,930			18			—			74,948
Total net sales	—			406,690			286,229			(47,311		)	645,608
Cost of goods sold	—			421,159			269,694			(47,775		)	643,078
Gross profit (loss)	—			(14,469		)	16,535			464			2,530
Selling, general and administrative expenses	16,560			—			3,010			—			19,570
Other operating expense - net	—			—			1,459			—			1,459
Operating income (loss)	(16,560		)	(14,469		)	12,066			464			(18,499		)
Interest expense	(10,135		)	(765		)	(90		)	—			(10,990		)
Intercompany interest	19,275			3,954			(23,229		)	—			—
Interest income	75			9			201			—			285
Net gain on forward and derivative contracts	—			706			—			—			706
Other income (expense) - net	634			15			(954		)	—			(305		)
Loss before income taxes and equity in earnings of joint ventures	(6,711		)	(10,550		)	(12,006		)	464			(28,803		)
Income tax benefit	1,468			—			921			—			2,389
Loss before equity in earnings of joint ventures	(5,243		)	(10,550		)	(11,085		)	464			(26,414		)
Equity in earnings (loss) of joint ventures	(20,435		)	—			736			20,435			736
Net loss	$	(25,678	)	$	(10,550	)	$	(10,349	)	$	20,899		$	(25,678	)
Other comprehensive income before income tax effect	2,412			1,555			607			(2,162		)	2,412
Income tax effect	(765		)	—			17			(17		)	(765		)
Other comprehensive income	1,647			1,555			624			(2,179		)	1,647
Total comprehensive income (loss)	$	(24,031	)	$	(8,995	)	$	(9,725	)	$	18,720		$	(24,031	)



Condensed Consolidating Balance Sheet
As of June 30, 2017
	The Company		Combined Guarantor Subsidiaries			Combined Non-Guarantor Subsidiaries		Consolidating Adjustments			Total Consolidated
Cash & cash equivalents	$	29,305	$	(270	)	$	101,638	$	—		$	130,673
Restricted cash	—		800			55		—			855
Accounts receivable - net	—		42,252			221		—			42,473
Due from affiliates	42		10,453			—		—			10,495
Inventories	180		159,857			94,574		—			254,611
Prepaid and other current assets	6,269		2,669			9,686		—			18,624
Total current assets	35,796		215,761			206,174		—			457,731
Property, plant and equipment - net	17,015		313,307			670,181		—			1,000,503
Investment in subsidiaries	704,533		53,760			—		(758,293		)	—
Due from affiliates - long term	528,232		389,099			13,854		(931,185		)	—
Other assets	28,175		44,012			27,059		(31,851		)	67,395
TOTAL	$	1,313,751	$	1,015,939		$	917,268	$	(1,721,329	)	$	1,525,629

Accounts payable, trade	$	2,823	$	52,886		$	36,422	$	—		$	92,131
Due to affiliates	133		8,409			10,550		—			19,092
Accrued and other current liabilities	10,569		14,557			20,553		—			45,679
Accrued employee benefits costs	1,932		8,256			579		—			10,767
Industrial revenue bonds	—		7,815			—		—			7,815
Total current liabilities	15,457		91,923			68,104		—			175,484
Senior notes payable	247,922		—			—		—			247,922
Accrued pension benefits costs - less current portion	45,857		19,746			13,849		(31,851		)	47,601
Accrued postretirement benefits costs - less current portion	3,805		122,556			1,672		—			128,033
Due to affiliates - long term	243,668		101,441			586,076		(931,185		)	—
Other liabilities	6,281		31,640			28,919		—			66,840
Deferred taxes	—		2,720			106,268		—			108,988
Total noncurrent liabilities	547,533		278,103			736,784		(963,036		)	599,384
Preferred stock	1		—			—		—			1
Common stock	945		1			59		(60		)	945
Other shareholders' equity	749,815		645,912			112,321		(758,233		)	749,815
Total shareholders' equity	750,761		645,913			112,380		(758,293		)	750,761
TOTAL	$	1,313,751	$	1,015,939		$	917,268	$	(1,721,329	)	$	1,525,629



Condensed Consolidating Balance Sheet
As of December 31, 2016
	The Company		Combined Guarantor Subsidiaries			Combined Non-Guarantor Subsidiaries		Consolidating Adjustments			Total Consolidated
Cash & cash equivalents	$	36,670	$	(255	)	$	95,988	$	—		$	132,403
Restricted cash	—		794			256		—			1,050
Accounts receivable - net	167		11,883			382		—			12,432
Due from affiliates	42		16,606			3		—			16,651
Inventories	180		146,689			86,694		—			233,563
Prepaid and other current assets	6,838		5,699			9,673		—			22,210
Assets held for sale	—		—			22,313		—			22,313
Total current assets	43,897		181,416			215,309		—			440,622
Property, plant and equipment - net	12,311		328,069			685,905		—			1,026,285
Investment in subsidiaries	702,659		51,240			—		(753,899		)	—
Due from affiliates - long term	529,873		346,893			1,792		(878,558		)	—
Other assets	28,215		49,331			27,596		(31,722		)	73,420
TOTAL	$	1,316,955	$	956,949		$	930,602	$	(1,664,179	)	$	1,540,327

Accounts payable, trade	$	6,125	$	52,921		$	35,914	$	—		$	94,960
Due to affiliates	417		9,641			5,310		—			15,368
Accrued and other current liabilities	11,950		17,744			20,406		—			50,100
Accrued employee benefits costs	1,932		8,317			668		—			10,917
Industrial revenue bonds	—		7,815			—		—			7,815
Total current liabilities	20,424		96,438			62,298		—			179,160
Senior notes payable	247,699		—			—		—			247,699
Accrued pension benefits costs - less current portion	46,390		20,167			14,658		(31,722		)	49,493
Accrued postretirement benefits costs - less current portion	4,380		120,242			1,733		—			126,355
Other liabilities	4,160		30,920			36,946		—			72,026
Due to affiliates - long term	237,247		42,609			598,702		(878,558		)	—
Deferred taxes	—		2,735			106,204		—			108,939
Total noncurrent liabilities	539,876		216,673			758,243		(910,280		)	604,512
Preferred stock	1		—			—		—			1
Common stock	944		1			59		(60		)	944
Other shareholders' equity	755,710		643,837			110,002		(753,839		)	755,710
Total shareholders' equity	756,655		643,838			110,061		(753,899		)	756,655
TOTAL	$	1,316,955	$	956,949		$	930,602	$	(1,664,179	)	$	1,540,327



Condensed Consolidating Statement of Cash Flows
For the six months ended June 30, 2017
	The Company			Combined Guarantor Subsidiaries			Combined Non-Guarantor Subsidiaries			Consolidating Adjustments			Total Consolidated
Net cash provided by (used in) operating activities	$	(7,988	)	$	(25,946	)	$	37,027		$	—		$	3,093
Purchase of property, plant and equipment	(7,811		)	(4,963		)	(6,069		)	—			(18,843		)
Proceeds from sale of property, plant and equipment	—			—			13,585			—			13,585
Restricted and other cash deposits	—			(6		)	201			—			195
Intercompany transactions	11,784			(27,931		)	(12,061		)	28,208			—
Net cash provided by (used in) investing activities	3,973			(32,900		)	(4,344		)	28,208			(5,063		)
Borrowings under revolving credit facilities	720			—			—			—			720
Repayments under revolving credit facilities	(720		)	—			—			—			(720		)
Issuance of common stock	240			—			—			—			240
Intercompany transactions	(3,590		)	58,831			(27,033		)	(28,208		)	—
Net cash provided by (used in) financing activities	(3,350		)	58,831			(27,033		)	(28,208		)	240
CHANGE IN CASH AND CASH EQUIVALENTS	(7,365		)	(15		)	5,650			—			(1,730		)
Cash and cash equivalents, beginning of period	36,670			(255		)	95,988			—			132,403
Cash and cash equivalents, end of period	$	29,305		$	(270	)	$	101,638		$	—		$	130,673



Condensed Consolidating Statement of Cash Flows
For the six months ended June 30, 2016
	The Company			Combined Guarantor Subsidiaries			Combined Non-Guarantor Subsidiaries			Consolidating Adjustments			Total Consolidated
Net cash provided by (used in) operating activities	$	(11,105	)	$	18,847		$	11,268		$	4,593		$	23,603
Purchase of property, plant and equipment	—			(2,697		)	(5,037		)	—			(7,734		)
Restricted and other cash deposits	—			(4		)	(1,874		)	—			(1,878		)
Net cash used in investing activities	—			(2,701		)	(6,911		)	—			(9,612		)
Borrowings under revolving credit facilities	595			—			—			—			595
Repayments under revolving credit facilities	(595		)	—			—			—			(595		)
Intercompany transactions	—			(12,777		)	17,370			(4,593		)	—
Net cash provided by (used in) financing activities	—			(12,777		)	17,370			(4,593		)	—
CHANGE IN CASH AND CASH EQUIVALENTS	(11,105		)	3,369			21,727			—			13,991
Cash and cash equivalents, beginning of period	58,421			(3,647		)	60,619			—			115,393
Cash and cash equivalents, end of period	$	47,316		$	(278	)	$	82,346		$	—		$	129,384