0000950123-10-029435 Sample Contracts

To: Kaiser Aluminum Corporation 27422 Portola Parkway, Suite 200 Foothill Ranch, CA 92610-2831 Attention: Chief Financial Officer Telephone No.: (949) 614-1740 Facsimile No.: (949) 614-1930
Kaiser Aluminum Corp • March 29th, 2010 • Rolling drawing & extruding of nonferrous metals

The purpose of this letter agreement (this “Confirmation”) is to confirm the terms and conditions of the call option transaction entered into between [ ] (“Dealer”) and Kaiser Aluminum Corporation (“Counterparty”) as of the Trade Date specified below (the “Transaction”). This letter agreement constitutes a “Confirmation” as referred to in the ISDA Master Agreement specified below. This Confirmation shall replace any previous agreements and serve as the final documentation for this Transaction.

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Form of Additional Call Option Transaction Confirmation [Dealer]1 [ ] [ ] [ ] [ ] March 26, 2010
Kaiser Aluminum Corp • March 29th, 2010 • Rolling drawing & extruding of nonferrous metals

To: Kaiser Aluminum Corporation 27422 Portola Parkway, Suite 200 Foothill Ranch, CA 92610-2831 Attention: Chief Financial Officer Telephone No.: (949) 614-1740 Facsimile No.: (949) 614-1930

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