Green Bay Packaging Announces Major Investment to Modernize Arkansas Kraft Paper Mill

Third Quarter 2022 Highlights *Third-quarter results exceeded the high end of guidance *Announced the Skjern Paper acquisition to expand production capacity in Europe *Launched state-of-the-art uncoated recycled paperboard (URB) #10 machine in the Hartsville Mill Complex *Released updated Corporate Responsibility Report highlighting commitments to ESG initiatives *Continued progress on strategic priorities which are expected to benefit financial results in 2023 and beyond

Tredegar announced that, as part of the Brazilian merger review process regarding the sale of Terphane to Oben Group, the General Superintendence of the Administrative Council for Economic Defense issued a non-binding opinion recommending the rejection of the transaction. Following this first stage of the two-stage Brazilian merger review process for complex transactions, the case will now be submitted to the CADE Tribunal, in accordance with the customary Brazilian merger review process. Once the case is submitted to the Tribunal, the parties are given a full opportunity to present evidence in favor of clearing the transaction. The SG Opinion is not binding and the final decision regarding the transaction will eventually be rendered by the Tribunal, which will begin its independent analysis now. John Steitz, Tredegar’s president and chief executive officer, said, “We remain confident that the sale of Terphane to Oben Group will be a positive development for the flexible packaging films market in Brazil. Tredegar has been fully cooperative with SG-CADE and will continue to cooperate with the CADE Tribunal to address any concerns. During the Tribunal’s review, Tredegar and Oben will detail their views on the market, its dynamics and the positive effects that would result from the transaction.”

Pregis® invests in additional capacity with state-of-the-art, blown film lines across its facilities. This expansion enables Pregis to grow its sustainable, barrier and non-barrier film offerings to meet the growing demands from rigid to flexible packaging in food and consumer packaged goods (CPG). As the market continues to shift, it accelerates the need for flexible solutions that not only provide performance but support the circular economy. The Pregis Renew™ brand of sustainable sealant and print films provides optimal physical properties while also incorporating aspects such as recyclability and recycled content. Flexible solutions, compared to rigid alternatives, inherently create the potential to utilize fewer materials, which can contribute to lower material costs and require less space—both on and off the shelf. “We are constantly seeking ways to develop innovative, high-quality films that align with critical business and environmental goals,” said Bob Gargione, President at Pregis Performance Flexibles. “This investment will allow us to build on our vision of helping customers choose the responsible solution for both their company and the environment.”