On November 22, 2016, Mr. Kaj Vazales was appointed to serve as a member of the Board of Directors (the “Board”) of Aleris Corporation (the “Company”). Mr. Vazales was designated by the investment funds managed by Oaktree Capital Management, L.P. (“Oaktree”) and their subsidiaries that are invested in the Company (collectively, the “Oaktree Funds”), to serve as a director and fill the vacancy left by Mr. Kreger’s resignation. Under a stockholders agreement among the Company and its stockholders, the Oaktree Funds have the right to designate certain directors to the Company’s board of directors. Mr. Kreger had been designated as a director by the Oaktree Funds.

Mr. Vazales serves as a Managing Director in the Distressed Debt group of Oaktree. He has been a member of the Distressed Debt group since joining Oaktree in 2007. Prior to joining Oaktree, Mr. Vazales served as an analyst in the Financial Restructuring group at Houlihan Lokey. In addition, Mr. Vazales currently serves on the board of directors of International Market Centers (currently serving on the compensation committee and previously serving on the audit committee) and Pulse Electronics (currently serving on the compensation and audit committees). He previously served as a director of Studio City/New Cotai (May 2015 – September 2016). Mr. Vazales received an AB degree in economics from Harvard University.

Mr. Vazales will receive cash compensation for his services on the same basis as other directors and consistent with the Company’s current policies for compensation of directors, consisting of an annual retainer payable in equal installments at the end of each calendar quarter with respect to service on the Board.

For each of the directors designated by the Oaktree Funds, all compensation paid to the Oaktree directors with respect to their service as one of our directors is turned over to an Oaktree affiliate to an agreement between Oaktree and the Oaktree director as part of his or her employment with Oaktree.

About ALERIS CORPORATION (NYSE:ARS)

Aleris Corporation is a holding company. The Company is engaged in the manufacture and sale of aluminum rolled products. The Company conducts its business and operations through its subsidiary, Aleris International, Inc. The Company operates through three segments: North America, Europe and Asia Pacific. The North America segment includes approximately nine manufacturing facilities located across the United States that produce rolled aluminum and coated products for the building and construction, truck trailer, automotive, consumer durables, other general industrial and distribution end uses. The Europe segment includes approximately two aluminum rolling mills and an aluminum cast house that produce aerospace plate and sheet, clad brazing sheet and heat-treated plate, among others. The Asia Pacific segment includes the operations of the Zhenjiang rolling mill, which produces plate products for the aerospace, engineering, distribution and other transportation end uses.

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