Global Brass and Copper, Inc., Completes Second Successful Recapitalization

June 1, 2012

SCHAUMBURG, IL – The Company announced today that it completed a successful recapitalization. The Company raised $575 million of financing, including a $200 million committed asset-based revolving credit facility and $375 million 9.5% senior secured notes due June 2019, sold pursuant to Rule 144A/Regulation S. The proceeds of the recapitalization were used to refinance existing outstanding debt, to fund a $160 million cash distribution to stockholders and for general corporate purposes. The transaction provides additional financial flexibility to the Company to implement its growth strategy.

Following the recapitalization, KPS Capital Partners and the Company’s management continue to own 100% of GBC’s common stock.

Financing for the recapitalization was provided by a syndicate of banks and institutional investors. Goldman, Sachs & Co. and Morgan Stanley & Co. LLC acted as joint bookrunners on the $375 million senior secured notes offering. Wells Fargo Capital Finance, LLC, part of Wells Fargo & Company (“Wells Fargo”), and GE Capital Markets, Inc. acted as joint lead arrangers, and Wells Fargo and Bank of America Securities, LLC acted as joint bookrunners, on the $200 million committed asset-based revolving credit facility.

About Global Brass and Copper Holdings, Inc.

Headquartered in Schaumburg, Illinois, Global Brass and Copper Holdings, Inc., (“GBC”), the parent company to Global Brass and Copper, Inc., is a leading manufacturer and distributor of copper and copper-alloy strip, sheet, plate, foil, rod and fabricated components in North America and one of the largest in the world. GBC employs approximately 1900 employees worldwide, most of whom are employed through one of its wholly-owned subsidiaries. The companies of GBC, which include GBC Metals, LLC doing business as Olin Brass, Chase Brass, LLC, and A.J. Oster, LLC, and their divisions and subsidiaries, operate manufacturing and distribution facilities in Illinois, Ohio, Rhode Island, Connecticut, California, Mexico, and Puerto Rico, along with joint ventures in Japan and China. GBC’s companies market and sell products under a variety of trademarks and trade names including Olin Brass, Chase Brass, Fineweld Tube, Somers Thin Strip, Blue Dot, Green Dot, Eco Brass, and CuVerro. For further information visit www.gbcmetals.com.

GBC is owned by KPS Capital Partners, LP, the manager of the KPS Special Situations Funds, a family of private equity limited partnerships with over $2.8 billion of assets under management focused on constructive investing in restructurings, turnarounds, and other special situations. The KPS investment strategy and portfolio companies are described in detail at the firm’s website: www.kpsfund.com.