Horsehead Holding (HRRS) 8-K Entry into a Material Definitive Agreement

Exhibit 99.1

UNITED STATES BANKRUPTCY COURT

FOR THE DISTRICT OF DELAWARE

In re: HORSEHEAD HOLDING CORP	Case No. 16-10287, 288, 289, 290, 291
Debtor	Reporting Period: May 1 - May 31, 2016

MONTHLY OPERATING REPORT

File with Court and submit copy to United States Trustee within 20 days after end of month

Submit copy of report to any official committee appointed in the case.

REQUIRED DOCUMENTS	Form No.	Document Attached	Explanation Attached	Affidavit/Supplement Attached
Schedule of Cash Receipts and Disbursements	MOR-1	x
Bank Reconciliation (or copies of debtor’s bank reconciliations)	MOR-1a		x
Schedule of Professional Fees Paid	MOR-1b	x
Copies of bank statements			x
Cash disbursements journals			x
Statement of Operations	MOR-2	x
Balance Sheet	MOR-3	x
Status of Postpetition Taxes	MOR-4	x
Copies of IRS Form 6123 or payment receipt		n/a
Copies of tax returns filed during reporting period		n/a
Summary of Unpaid Postpetition Debts	MOR-4	x
Listing of aged accounts payable	MOR-4	x
Accounts Receivable Reconciliation and Aging	MOR-5	x
Debtor Questionnaire	MOR-5	x

I declare under penalty of perjury (28 U.S.C. Section 1746) that this report and the attached documents are true and correct to the best of my knowledge and belief.

Signature of Debtor	Date
Signature of Joint Debtor	Date
/s/ Timothy D. Boates	6/20/2016
Signature of Authorized Individual*	Date
Timothy D. Boates Printed Name of Authorized Individual	Chief Restructuring Officer Title of Authorized Individual

* Authorized individual must be an officer, director or shareholder if debtor is a corporation; a partner if debtor is a partnership; a manager or member if debtor is a limited liability company.

In re: HORSEHEAD HOLDING CORP	MOR-1	Case No. 16-10287, 288, 289, 290, 291
Debtor	Month-to-Date	Reporting Period: May 1 - May 31, 2016

SCHEDULE OF CASH RECEIPTS AND DISBURSEMENTS

Amounts reported should be per the debtor’s books, not the bank statement. The beginning cash should be the ending cash from the prior month or, if this is the first report, the amount should be the balance on the date the petition was filed. The amounts reported in the “CURRENT MONTH - ACTUAL” column must equal the sum of the four bank account columns. The amounts reported in the “PROJECTED” columns should be taken from the SMALL BUSINESS INITIAL REPORT (FORM IR-1). Attach copies of the bank statements and the cash disbursements journal. The total disbursements listed in the disbursements journal must equal the total disbursements reported on this page. A bank reconciliation must be attached for each account. [See MOR-1 (CON’T)]

	MAY 1 - 31, 2016
	16-10287 HORSEHEAD HOLDINGS								16-10288 HORSEHEAD CORPORATION																					16-10290 INMETCO										16-10291 Zochem																GRAND TOTAL
	WFC -2552			PNC -3765		TOTAL			PNC -3127		WFC -9756		WFC -6331			PNC -7517		PNC -7525			WFC -1949			WFC -1931			TOTAL			WFC -4964		WFC -5018			WFC -0254			TOTAL		WFC -4972		WFC -4980			PNC -6944		PNC -6952			SB -5117		SB -0918		TOTAL
BEGINNING BALANCE		(89,235	)		0		(89,235	)		267,899		14,617,808		0			968,476		0			(20,707	)		(1,383,434	)		14,450,042			4,029,562		0			(178,069	)		3,851,493		130,026		0			218,948		0			645,787		628,729		1,623,490		19,835,790
CASH RECEIPTS
Trade Receipts							—							11,341,717					2,194,295						—			13,536,012					3,194,457						3,194,457				5,417,604					2,333,213			200,342		1,741,169		9,692,328		26,422,797
Other Receipts		757			92		849																					—											—												1,087,983				1,087,983		1,088,832
		757			92		849			—		—		11,341,717			—		2,194,295			—			—			13,536,012			—		3,194,457			—			3,194,457		—		5,417,604			—		2,333,213			1,288,325		1,741,169		10,780,311		27,511,629
CASH DISBURSEMENTS
Payroll & Taxes							—					2,478,262										70,696			31,320			2,580,279			11,041								11,041												278,787				278,787		2,870,107
Benefits							—					785,638													34,271			819,909								44,274			44,274												47,933				47,933		912,115
Purchases							—					2,526,559													475,179			3,001,738			111,244					286,934			398,178		6,546,111					1,743,892					279		788,237		9,078,518		12,478,434
Freight							—					2,471,073													1,663,146			4,134,220			43,761					15,294			59,055												394,760		182,045		576,806		4,770,081
Utilities							—																		793,096			793,096			179,060					91,621			270,682												379,425				379,425		1,443,202
Leases							—					25,344																25,344											—												1,768				1,768		27,112
Insurance							—					355,416													24,171			379,587											—																—		379,587
Miscellaneous		2,904					2,904			117,667		119,927													552,514			790,109			415		154			23,643			24,212		1,649										25,951		36,397		63,997		881,220
Contract Services							—					1,152,554													1,408,381			2,560,934			21,959					468,057			490,016												6,335				6,335		3,057,285
Supplies							—					180,207													933,166			1,113,373								380,735			380,735												86,722		151,990		238,712		1,732,820
Other Operating Costs							—					275,000													28,350			303,350								91,508			91,508												45,166		41,282		86,447		481,306
DIP Fees							—					675,972													6,200			682,172											—																—		682,172
Professional Fees		—			—		—			—		3,788,496		—			—		—			—			—			3,788,496			—		—			—			—		—		—			—		—			—		—		—		3,788,496
CapEX							—					925,383																925,383			84,259					129,772			214,031																—		1,139,414
Utility Deposits							—																					—								5,780			5,780																—		5,780
Macquarie Interest							—					231,695																231,695											—																—		231,695
Critical Vendors - Freight							—					727,768																727,768			43,066								43,066												41,983				41,983		812,817
Critical Vendors - Material Vendors							—					102,908																102,908											—																—		102,908
		2,904			—		2,904			117,667		16,822,205		—			—		—			70,696			5,949,793			22,960,361			494,805		154			1,537,618			2,032,577		6,547,759		—			1,743,892		—			1,309,107		1,199,952		10,800,710		35,796,553
Net Bank Account Transfers		—			—		—			—		4,883,394		(11,341,717	)		2,194,295		(2,194,295	)		80,022			5,328,301			(1,050,000	)		1,735,257		(3,194,303	)		1,459,046			—		7,151,640		(5,417,604	)		1,649,178		(2,333,213	)		—		—		1,050,000		(0	)
DIP Facility Drawdown		10,000,000					10,000,000																					—											—																—		10,000,000
ENDING BOOK BALANCE		9,908,618			92		9,908,710			150,232		2,678,997		0			3,162,771		0			(11,381	)		(2,004,926	)		3,975,693			5,270,014		0			(256,641	)		5,013,373		733,906		0			124,234		0			625,004		1,169,946		2,653,090		21,550,866
DISBURSEMENTS FOR CALCULATING U.S. TRUSTEE QUARTERLY FEES: (FROM CURRENT MONTH ACTUAL COLUMN)
TOTAL DISBURSEMENTS							2,904																					22,960,361											2,032,577																10,800,710		35,796,553
LESS: TRANSFERS TO DEBTOR IN POSSESSION ACCOUNTS
PLUS: ESTATE DISBURSEMENTS MADE BY OUTSIDE SOURCES
TOTAL DISBURSEMENTS FOR CALCULATING U.S. TRUSTEEQUARTERLY FEES							2,904																					22,960,361											2,032,577																10,800,710		35,796,553

In re: HORSEHEAD HOLDING CORP	MOR-1	Case No. 16-10287, 288, 289, 290, 291
Debtor	Case-to-Date	Reporting Period: May 1 - May 31, 2016

SCHEDULE OF CASH RECEIPTS AND DISBURSEMENTS

Amounts reported should be per the debtor’s books, not the bank statement. The beginning cash should be the ending cash from the prior month or, if this is the first report, the amount should be the balance on the date the petition was filed. The amounts reported in the “CURRENT MONTH - ACTUAL” column must equal the sum of the four bank account columns. The amounts reported in the “PROJECTED” columns should be taken from the SMALL BUSINESS INITIAL REPORT (FORM IR-1). Attach copies of the bank statements and the cash disbursements journal. The total disbursements listed in the disbursements journal must equal the total disbursements reported on this page. A bank reconciliation must be attached for each account. [See MOR-1 (CON’T)]

	MAY 1 - 31, 2016
	16-10287 HORSEHEAD HOLDINGS									16-10288 HORSEHEAD CORPORATION																					16-10290 INMETCO											16-10291 Zochem																		GRAND TOTAL
	WFC -2552			PNC -3765			TOTAL			PNC -3127		WFC -9756		WFC -6331			PNC -7517		PNC -7525			WFC -1949			WFC -1931			TOTAL			WFC -4964		WFC -5018			WFC -0254			TOTAL			WFC -4972		WFC -4980			PNC -6944			PNC -6952			SB -5117		SB -0918			TOTAL
BEGINNING BALANCE		536			77,440			77,976			0		36,008		0			13		1,323,180			0			0			1,359,201			0		0			0			0			0		0			(434	)		652,850			298,010		238,283			1,188,709		2,625,886
								—																					—											—																			—		—
CASH RECEIPTS								—																					—											—																			—		—
Trade Receipts					2,686,953			2,686,953					222,520		35,894,773					19,902,975						—			56,020,268					11,746,710						11,746,710					6,944,328						20,399,427			587,250		7,533,633			35,464,638		105,918,569
Other Receipts		15,774,586			630			15,775,216					278																278					150						150								18,677,793						3,717,843					22,395,636		38,171,281
		15,774,586			2,687,583			18,462,169			—		222,799		35,894,773			—		19,902,975			—			—			56,020,547			—		11,746,860			—			11,746,860			—		6,944,328			18,677,793			20,399,427			4,305,093		7,533,633			57,860,274		144,089,850
								—																					—											—																			—		—
CASH DISBURSEMENTS								—																					—											—																			—		—
Payroll & Taxes		35,191			37,371			72,562			68,482		11,065,741										350,555			36,833			11,521,610			101,268		415			94,084			195,767														936,563					936,563		12,726,502
Benefits		2,472,421						2,472,421			25,594		1,209,919													40,760			1,276,273								129,153			129,153														333,039					333,039		4,210,886
Purchases		8,081,202			889,099			8,970,301			892,071		2,901,019													583,621			4,376,711			136,688		85,722			540,767			763,177			8,928,360					19,758,327						100,353		5,201,482			33,988,524		48,098,713
Freight		6,494,005			35,691			6,529,695			1,693,638		2,471,073													2,383,499			6,548,210			95,276		18,751			112,690			226,717			7,163					139,664						902,173		387,398			1,436,398		14,741,020
Utilities		502,207			5,477			507,684			1,231,120															1,017,117			2,248,237			906,673					313,367			1,220,039														665,157		84,049			749,206		4,725,166
Leases		39,869						39,869			599,817		36,143																635,960								782			782														1,768					1,768		678,379
Insurance		1,227,225			206,037			1,433,262			102,673		355,416													49,538			507,627								59,525			59,525								127,266											127,266		2,127,681
Miscellaneous		38,240			4,000			42,240			484,061		278,877					17,631								659,108			1,439,677			4,591		7,417			42,191			54,199			2,529					9,557						184,785		112,089			308,960		1,845,076
Contract Services		2,381,075			92,742			2,473,816			1,546,783		1,152,752													2,238,835			4,938,371			274,786		14,459			1,173,172			1,462,416														77,882		65			77,946		8,952,549
Supplies		925,153			50,936			976,089			1,097,177		180,207													1,343,103			2,620,488			24,684		204,040			791,369			1,020,093														439,510		391,739			831,248		5,447,919
Other Operating Costs		44,684			46,059			90,743			170,410		275,000							790,065						28,350			1,263,825								268,567			268,567														341,714		179,215			520,929		2,144,065
DIP Fees		1,101,861						1,101,861					675,972													6,200			682,172											—																			—		1,784,033
Professional Fees		3,018,529			—			3,018,529			—		3,788,496		—			—		—			—			—			3,788,496			—		—			—			—			—		—			—			—			16,487		185,933			202,419		7,009,445
PNC Facility Repayment								—																					—											—								18,677,793											18,677,793		18,677,793
CapEX		220,129						220,129					925,383																925,383			514,521		92,566			471,078			1,078,164																			—		2,223,676
Utility Deposits		(370,720	)					(370,720	)		212,142							781,500											993,642								5,780			5,780																			—		628,702
Macquarie Interest		418,028						418,028					231,695																231,695											—																			—		649,723
503(b)(9) Payments		237,064						237,064																					—			132,462								132,462																			—		369,526
Critical Vendors - Freight		922,861						922,861					727,768																727,768			116,644								116,644			6,406					8,759						238,669					253,833		2,021,105
Critical Vendors - Material Vendors								—					102,908																102,908											—																			—		102,908
		27,789,024			1,367,411			29,156,435			8,123,968		26,378,372		—			799,131		790,065			350,555			8,386,965			44,829,055			2,307,593		423,369			4,002,524			6,733,486			8,944,458		—			38,721,366			—			4,238,099		6,541,969			58,445,893		139,164,869
Net Bank Account Transfers		7,922,520			(1,397,520	)		6,525,000			8,274,201		28,798,561		(35,894,774	)		3,961,889		(20,436,090	)		339,174			6,382,038			(8,575,001	)		7,577,607		(11,323,490	)		3,745,883			(0	)		9,678,364		(6,944,328	)		20,168,241			(21,052,277	)		260,000		(60,000	)		2,050,000		(0	)
DIP Facility Drawdown		14,000,000						14,000,000																					—											—																			—		14,000,000
ENDING BOOK BALANCE		9,908,618			92			9,908,710			150,232		2,678,997		(0	)		3,162,772		(0	)		(11,381	)		(2,004,927	)		3,975,692			5,270,014		(0	)		(256,641	)		5,013,373			733,906		0			18,802,027			0			625,004		1,169,946			21,330,883		40,228,659
DISBURSEMENTS FOR CALCULATING U.S. TRUSTEE QUARTERLY FEES: (FROM CURRENT MONTH ACTUAL COLUMN)
TOTAL DISBURSEMENTS								29,156,435																					44,829,055											6,733,486																			58,445,893		139,164,869
LESS: TRANSFERS TO DEBTOR IN POSSESSION ACCOUNTS
PLUS: ESTATE DISBURSEMENTS MADE BY OUTSIDE SOURCES
TOTAL DISBURSEMENTS FOR CALCULATING U.S. TRUSTEE QUARTERLY FEES								29,156,435																					44,829,055											6,733,486																			58,445,893		139,164,869

MOR-1b

In re: HORSEHEAD HOLDING CORP	Case No. 16-10287, 288, 289, 290, 291
Debtor	Reporting Period: May 1 - May 31, 2016

SCHEDULE OF PROFESSIONAL FEES AND EXPENSES PAID

This schedule is to include all retained professional payments from case inception to current month

Payee	Period Covered	Amount Approved		Payor	Check		Amount Paid				Year-To-Date
					Number	Date	Fees		Expenses		Fees		Expenses
RAS Management Advisors, LLC	Week ending February 6, 2016	$	56,554.00	Horsehead Holding	WT	3/16/16	$	52,950.00	$	3,604.00
	Week ending February 13, 2016	$	69,865.00	Horsehead Holding	WT	3/16/16	$	63,000.00	$	6,865.00
	Week ending February 20, 2016	$	72,085.00	Horsehead Holding	WT	3/16/16	$	65,125.00	$	6,960.00
	Week ending February 27, 2016	$	72,281.00	Horsehead Holding	WT	3/16/16	$	66,775.00	$	5,506.00
	Week ending March 5, 2016	$	74,313.00	Horsehead Holding	WT	3/16/16	$	67,450.00	$	6,863.00
	Week ending March 12, 2016	$	61,610.00	Horsehead Holding	WT	3/16/16	$	58,075.00	$	3,535.00	$	373,375.00	$	33,333.00
	Week ending March 19, 2016	$	78,345.00	Horsehead Holding	WT	3/22/16	$	71,475.00	$	6,870.00	$	444,850.00	$	40,203.00
	Week ending March 26, 2016	$	63,461.00	Horsehead Holding	WT	4/4/16	$	60,175.00	$	3,286.00	$	505,025.00	$	43,489.00
	Week ending April 2, 2016	$	66,924.00	Horsehead Holding	WT	4/8/16	$	61,700.00	$	5,224.00	$	566,725.00	$	48,713.00
	Week ending April 9, 2016	$	58,651.00	Horsehead Holding	WT	4/13/16	$	55,250.00	$	3,401.00	$	621,975.00	$	52,114.00
	Week ending April 16, 2016	$	64,189.00	Horsehead Holding	WT	4/21/16	$	60,325.00	$	3,864.00	$	682,300.00	$	55,978.00
	Week ending April 23, 2016	$	53,260.00	Horsehead Holding	WT	4/28/16	$	51,425.00	$	1,835.00	$	733,725.00	$	57,813.00
	Week ending April 30, 2016	$	63,601.00	Horsehead Holding	WT	5/5/16	$	60,125.00	$	3,476.00	$	793,850.00	$	61,289.00
	Week ending May 7, 2016	$	63,857.00	Horsehead Holding	WT	5/12/16	$	60,150.00	$	3,707.00	$	854,000.00	$	64,996.00
	Week ending May 14, 2016	$	53,547.00	Horsehead Holding	WT	5/19/16	$	51,975.00	$	1,572.00	$	905,975.00	$	66,568.00
	Week ending May 21, 2016	$	62,196.00	Horsehead Holding	WT	5/26/16	$	58,575.00	$	3,621.00	$	964,550.00	$	70,189.00
Epiq Bankruptcy Solutions	Month of February	$	95,985.25		WT	5/18/16	$	95,458.40	$	526.85
	Month of March	$	133,455.55		WT	5/18/16	$	132,930.07	$	525.48	$	228,388.47	$	1,052.33
Kirkland & Ellis LLC	Month of February	$	1,191,560.66		WT	5/13/16	$	1,164,569.88	$	26,990.78	$	1,164,569.88	$	26,990.78
Lazard Middle Market LLC	Month of February	$	1,086,657.73		WT	5/13/16	$	1,080,000.00	$	6,657.73	$	1,080,000.00	$	6,657.73

In re. HORSEHEAD HOLDING CORP.	MOR - 2	Case No. 16-10287, 288, 289, 290, 291
Debtor	MTD	Reporting Period: May 1 - 31, 2016

Horsehead Holding Corp. and Subsidiaries

CONSOLIDATING STATEMENTS OF OPERATIONS

DEBTOR IN POSSESSION

For the month ended May 31, 2016(UNAUDITED)

(Amounts in thousands, except per share amounts)

	Horsehead Holding Corp.			Horsehead Corporation			HMP			INMETCO			Zochem			Eliminations			Consolidated
Net sales of zinc material and other goods	$	—		$	8,579		$	1,037		$	—		$	10,440		$	—		$	20,056
Net sales of nickel based material and other services		—			—			—			2,957			—			—			2,957
EAF dust service fees		—			3,629			—			—			—			(96	)		3,533
Net sales		—			12,208			1,037			2,957			10,440			(96	)		26,546
Cost of sales of zinc material and other goods		—			9,562			3,174			—			9,566			—			22,302
Cost of sales of nickel based material and other services		—			—			—			2,315			—			(96	)		2,219
Cost of EAF dust services		—			2,527			—			—			—			—			2,527
Fire related costs		—			—			—			195			—			—			195
Insurance claim income		—			—			—			(1,000	)		—			—			(1,000	)
Cost of sales (excluding depreciation and amortization)		—			12,089			3,174			1,510			9,566			(96	)		26,243
Depreciation and amortization		—			1,192			425			252			190			—			2,059
Selling, general and administrative expenses		120			939			29			188			150			—			1,426
Total costs and expenses		120			14,220			3,628			1,950			9,906			(96	)		29,728
Loss from operations		(120	)		(2,012	)		(2,591	)		1,007			534			—			(3,182	)
Equity in income of subsidiary, net of taxes		(4,596	)		—			—			—			—			4,596			—
Other income ( expense)
Interest expense		(1,856	)		(951	)		—			(38	)		(270	)		92			(3,023	)
Interest and other income		91			—			—			—			—			(92	)		(1	)
Other income (expense)		—			3			—			13			(30	)		—			(14	)
Total other income (expense)		(1,765	)		(948	)		—			(25	)		(300	)		—			(3,038	)
REORGANIZATION ITEMS, NET		(5,021	)		—	��		—			—			(256	)		—			(5,277	)
Income before income taxes		(11,502	)		(2,960	)		(2,591	)		982			(22	)		4,596			(11,497	)
Income tax provision		—			—			—			—			5			—			5
NET (LOSS) INCOME	$	(11,502	)	$	(2,960	)	$	(2,591	)	$	982		$	(27	)	$	4,596		$	(11,502	)

NOTE: THE MARCH 31, 2016 BALANCES MAY BE ADJUSTED UPON COMPLETION OF THE 2016 1ST QTR REVIEW AND MAY AFFECT THESE RESULTS

NOTE: HORSEHEAD CORP. INCLUDES NON-DEBTOR BALANCES (CHR & HZR)

In re. HORSEHEAD HOLDING CORP.	MOR - 2	Case No. 16-10287, 288, 289, 290, 291
Debtor	Case To Date	Reporting Period: May 1 - 31, 2016

Horsehead Holding Corp. and Subsidiaries

CONSOLIDATING STATEMENTS OF OPERATIONS

DEBTOR IN POSSESSION

For the period February 2 to May 31, 2016(UNAUDITED)

(Amounts in thousands, except per share amounts)

	Horsehead Holding Corp.			Horsehead Corporation			HMP			INMETCO			Zochem			Eliminations			Consolidated
Net sales of zinc material and other goods	$	—		$	36,246		$	6,327		$	—		$	39,951		$	—		$	82,524
Net sales of nickel based material and other services		—			—			—			10,452			—			—			10,452
EAF dust service fees		—			13,335			—			—			—			(346	)		12,989
Net sales		—			49,581			6,327			10,452			39,951			(346	)		105,965
Cost of sales of zinc material and other goods		—			35,175			15,315			—			37,094			—			87,584
Cost of sales of nickel based material and other services		—			—			—			9,443			—			(346	)		9,097
Cost of EAF dust services		—			9,605			—			—			—			—			9,605
Fire related cost		—			—			—			894			—			—			894
Insurance claim income		—			—			—			(1,000	)		—			—			(1,000	)
Cost of sales (excluding depreciation and amortization)		—			44,780			15,315			9,337			37,094			(346	)		106,180
Depreciation and amortization		—			4,756			1,698			1,007			748			—			8,209
Selling, general and administrative expenses		293			4,719			174			700			613			—			6,499
Total costs and expenses		293			54,255			17,187			11,044			38,455			(346	)		120,888
Loss from operations		(293	)		(4,674	)		(10,860	)		(592	)		1,496			—			(14,923	)
Equity in income of subsidiary, net of taxes		(26,722	)		—			—			—			—			26,722			—
Other income ( expense)
Interest expense		(6,348	)		(4,498	)		—			(150	)		(1,036	)		362			(11,670	)
Interest and other income		361			4			—			—			—			(362	)		3
Other income (expense)		—			11			—			124			(141	)		—			(6	)
																				—
Total other income (expense)		(5,987	)		(4,483	)		—			(26	)		(1,177	)		—			(11,673	)
REORGANIZATION ITEMS, NET		(20,865	)		(4,790	)		—			—			(2,014	)		—			(27,669	)
Income before income taxes		(53,867	)		(13,947	)		(10,860	)		(618	)		(1,695	)		26,722			(54,265	)
Income tax provision		—			—			—			—			(398	)		—			(398	)
NET (LOSS) INCOME	$	(53,867	)	$	(13,947	)	$	(10,860	)	$	(618	)	$	(1,297	)	$	26,722		$	(53,867	)

In re. HORSEHEAD HOLDING CORP	MOR -2	Case No. 16-10287, 288, 289, 290, 291
Debtor	CONT	Reporting period: May 1-31, 2016

INCOME (EXPENSE)

REORGANIZATION CHARGES

	FEBRUARY			MARCH			APRIL			MAY			YTD
HHC
Professional Fee		(2,544	)		(7,782	)		(4,248	)		(4,933	)		(19,507	)	SG&A
Interest Expense		(1,270	)		—			—			(88	)		(1,358	)	Int Exp
		(3,814	)		(7,782	)		(4,248	)		(5,021	)		(20,865	)
HORSEHEAD
Hedges		49			—			—			—			49		Sales
Interest Exp		(4,839	)		—			—			—			(4,839	)	Int Exp
		(4,790	)		—			—			—			(4,790	)
HMP
Other Income		—			—			—			—			—		Oth Inc
INMETCO
Hedges		—			—			—			—			—		COS
ZOCHEM
Hedges		(49	)		—			—			—			(49	)	Sales
Profess Fee/Other		(360	)		(511	)		(693	)		(256	)		(1,820	)	SG&A
Interest Exp		(145	)		—			—			—			(145	)	Int Exp
		(554	)		(511	)		(693	)		(256	)		(2,014	)
TOTAL		(9,158	)		(8,293	)		(4,941	)		(5,277	)		(27,669	)

In re. HORSEHEAD HOLDING CORP.	MOR-3	Case No. 16-10287, 288, 289, 290, 291
Debtor		Reporting Period: May 1 - 31, 2016

Horsehead Holding Corp. and Subsidiaries

CONSOLIDATING BALANCE SHEETS

DEBTOR IN POSSESSION

MAY 31, 2016(UNAUDITED)

(Amounts in thousands, except per share amounts)

FINAL JUNE 13TH
ASSETS	Horsehead Holding Corp.			Horsehead Corporation		HMP			Zochem			INMETCO		Eliminations			Consolidated
Current assets
Cash and cash equivalents	$	10,077		$	5,974	$	—		$	3,115		$	5,010	$	—		$	24,176
Accounts receivable, net of allowance		346			9,920		3,294			20,641			6,447		(540	)		40,108
Inventories, net		—			6,065		5,260			9,718			4,935		—			25,978
Prepaid expenses and other current assets		1,805			11,627		—			1,462			297		(6,972	)		8,219
Deferred income taxes		—			—		—			—			—		—			—
Total current assets		12,228			33,586		8,554			34,936			16,689		(7,512	)		98,481
Property, plant and equipment, net		—			108,244		87,419			24,126			32,989		—			252,778
Other assets
Intangible assets		—			7,558		—			83			1,502		—			9,143
Restricted cash		—			7,939		—			—			—		—			7,939
Deferred income taxes		—			—		—			—			—		—			—
Investment in and advances to subsidiary		111,261			79,947		(740,205	)		12,696			2,090		534,211			—
Deposits and other		15,186			185		403			872			520		(15,185	)		1,981
Total other assets		126,447			95,629		(739,802	)		13,651			4,112		519,026			19,063
Total assets	$	138,675		$	237,459	$	(643,829	)	$	72,713		$	53,790	$	511,514		$	370,322
LIABILITIES AND STOCKHOLDERS’ EQUITY	Horsehead Holding Corp.			Horsehead Corporation		HMP			Zochem			INMETCO		Eliminations			Consolidated
Current liabilities
Current Maturities of long-term debt	$	—		$	—	$	—		$	—		$	—	$	—		$	—
Notes payable		—			—		—			—			—		—		$	—
DEBTOR IN POSSESSION FINANCING		—			33,822		—			18,678			—		—			52,500
Accounts payable		10,495			11,260		890			2,332			2,099		(370	)		26,706
Accrued expenses		7,172			13,565		182			840			3,658		(21	)		25,396
Income Taxes Payable		—			4,266		—			(1,064	)		594		(6,973	)		(3,177	)
Total current liabilities		17,667			62,913		1,072			20,786			6,351		(7,364	)		101,425
LIABILITIES SUBJECT TO COMPROMISE - SECURED DEBT		208,588			65,214		5,000			—			—		(15,334	)		263,468
LIABILITIES SUBJECT TO COMPROMISE - PRIORITY DEBT		—			1,931		167			—			—		—			2,098
LIABILITIES SUBJECT TO COMPROMISE - UNSECURED DEBT (AP & AL)		142,930			27,248		28,532			7,406			5,014		—			211,130
Long-term debt, less current maturities		—			—		—			—			10,000		(10,000	)		—
Other long-term liabilities		—			13,398		—			27			1,867		—			15,292
Deferred income taxes		—			—		—			3,112			—		—			3,112
Commitments and contingencies		—			—		—			—			—		—
Stockholders’ equity
Horsehead Holding Corp. stockholders’ equity:
Common stock, par value $.01 per share; 100,000 shares		0			0		0			0			0		0
with voting rights authorized;		602			—		—			—			—		—			602
Preferred stock, par value $.01 per share; 10,000 shares		—			—		—			—			—		—
authorized; no shares issued or outstanding		—			—		—			—			—		—			—
Additional paid-in capital		394,299			12,572		—			—			29,081		(41,653	)		394,299
Retained earnings		(625,411	)		50,344		(678,600	)		41,382			1,477		585,865			(624,943	)
Total stockholders’ equity before noncontrolling interest		(230,510	)		62,916		(678,600	)		41,382			30,558		544,212			(230,042	)
Noncontrolling interest		—			3,839		—			—			—		—			3,839
Total stockholders’ equity		(230,510	)		66,755		(678,600	)		41,382			30,558		544,212			(226,203	)
Total liabilities and stockholders’ equity	$	138,675		$	237,459	$	(643,829	)	$	72,713		$	53,790	$	511,514		$	370,322
		—			—		—			—			—		—			—

NOTE: THE MARCH 31, 2016 BALANCES MAY BE ADJUSTED UPON COMPLETION OF THE 2016 1ST QTR REVIEW AND MAY AFFECT THESE RESULTS

MOR-4

In re: HORSEHEAD HOLDING CORP	Case No. 16-10287, 288, 289, 290, 291
Debtor	Reporting Period: May 1 - May 31, 2016

STATUS OF POSTPETITION TAXES

The beginning tax liability should be the ending liability from the prior month or, if this is the first report, the amount should be zero.

Attach photocopies of IRS Form 6123 or payment receipt to verify payment or deposit of federal payroll taxes.

Attach photocopies of any tax returns filed during the reporting period.

	Beginning Tax Liability		Amount Withheld or Accrued		Amount Paid		Date Paid	Check No. or EFT	Ending Tax Liability
Federal
Withholding		12,585		350,122		350,594	Various dates	EFT thru payroll provider		12,113
FICA-Employee		—		172,049		172,049	Various dates	EFT thru payroll provider		—
FICA-Employer		69,978		178,134		171,414	Various dates	EFT thru payroll provider		76,698
Unemployment		1,168		7,379		7,323	Various dates	EFT thru payroll provider		1,224
Income		—		—		—				—
Other:		—		—		—				—
Total Federal Taxes		83,731		707,684		701,380				90,035
State and Local
Withholding		—		91,050		91,050	Various dates	EFT thru payroll provider		—
Sales		28,148		—		1,024	Various dates	various		27,124
Excise		—		—		—				—
Unemployment		13,544		16,143		15,271	Various dates	EFT thru payroll provider		14,416
Real Property		438,085		122,888		—				560,973
Personal Property		—				—				—
Other:		—		—		—				—
Total State and Local		479,777		230,081		107,345				602,513
Total Taxes		563,508		937,765		808,725				692,548

SUMMARY OF UNPAID POSTPETITION DEBTS

Attach aged listing of accounts payable.

	Number of Days Past Due
	Current		0-30		31-60		61-90		Over 90		Total
Accounts Payable		15,544,000		—		—		—		—		15,544,000
Wages Payable		3,986,000		—		—		—		—		3,986,000
Taxes Payable		692,548		—		—		—		—		692,548
Rent/Leases-Building		—		—		—		—		—		—
Rent/Leases-Equipment		—		—		—		—		—		—
Secured Debt/Adequate Protection Payments		—		—		—		—		—		—
Professional Fees		11,162,000		—		—		—		—		11,162,000
Amounts Due to Insiders*		—		—		—		—		—		—
Other:
Other:
Total Postpetition Debts		31,384,548		—		—		—		—		31,384,548

Explain how and when the Debtor intends to pay any past-due postpetition debts.

Post petition debts will be paid with operating cash flow and or post petition financing.

MOR-5

In re: HORSEHEAD HOLDING CORP	Case No. 16-10287, 288, 289, 290, 291
Debtor	Reporting Period: May 1 - May 31, 2016

ACCOUNTS RECEIVABLE RECONCILIATION AND AGING

	HH Corp			HMP			Inmetco			Zochem
Accounts Receivable Reconciliation
Total Accounts Receivable at the beginning of the reporting period		9,981,536			2,545,424			5,352,642			18,293,831
+ Amounts billed during the period		12,305,471			996,691			2,844,234			10,793,456
- Amounts collected during the period		(12,027,060	)		(1,508,952	)		(3,194,457	)		(9,692,328	)
Total Accounts Receivable at the end of the reporting period		10,259,947			2,033,163			5,002,419			19,394,959
Accounts Receivable Aging
0 - 30 days old		8,590,274			1,623,405			4,012,959			19,470,856
31 - 60 days old		1,270,008			99,470			554,516			50,131
61 - 90 days old		84,414			254,449			295,129			(18,160	)
91+ days old		315,252			55,839			139,815			(107,868	)
Total Accounts Receivable		10,259,947			2,033,163			5,002,419			19,394,959
Amount considered uncollectible (Bad Debt)		(165,813	)		—			(15,000	)		(70,974	)
Accounts Receivable (Net)		10,094,134			2,033,163			4,987,419			19,323,985

DEBTOR QUESTIONNAIRE

Must be completed each month		Yes	No
1.	Have any assets been sold or transferred outside the normal course of business this reporting period? If yes, provide an explanation below.		x
2.	Have any funds been disbursed from any account other than a debtor in possession account this reporting period? If yes, provide an explanation below.		x
3.	Have all postpetition tax returns been timely filed? If no, provide an explanation below.	x
4.	Are workers compensation, general liability and other necessary insurance coverages in effect? If no, provide an explanation below.	x
5.	Has any bank account been opened during the reporting period? If yes, provide documentation identifying the opened account(s). If an investment account has been opened provide the required documentation pursuant to the Delaware Local Rule 4001-3.		x

4955 STEUBENVILLE PIKE SUITE 405 PITTSBURGH, PA 15205 WWW.HORSEHEAD.NET P 724.774.1020 F 412.788.1812

June 20, 2016

Office of the United States Trustee

844 King Street, Suite 2207, Lockbox 35

Wilmington, DE 19801

Attn: Timothy J. Fox

Subject:Declaration Regarding Bank Reconciliation and Bank Statements

Horsehead Holding Corp. and certain of its affiliates (the “Debtors”), hereby submit this declaration regarding providing bank statements in lieu of providing bank account reconciliations.

The Debtors have performed all bank account reconciliations in the ordinary course of business. Copies of bank account statements and cash disbursement journals are available for inspection upon request by the United States Trustee’s Office.

Pursuant to 28 U.S.C. § 1746, I declare under penalty of perjury that the foregoing is true and correct to the best of my knowledge and belief.

/s/ Timothy D. Boates
Name:	Timothy Boates
Position:	Chief Restructuring Officer