RRD Responds to Recent Schedule 13D Filing by Chatham
R.R. Donnelley & Sons Company issued the following statement regarding the Schedule 13D filed on July 28, 2021 by Chatham Asset Management, LLC with the Securities and Exchange Commission disclosing, among other things, its current holdings of common shares and debt of RRD. RRD is open to constructive input from any of its stockholders and has been engaged in frequent dialogue with Chatham for more than two years. In addition, the Company’s Board of Directors and management continue to work extensively with external advisors to review strategic opportunities, including monetizing assets to unlock the intrinsic value of RRD. Since July 31, 2020, RRD has successfully executed the following transactions to accelerate its debt and leverage reduction: *In November 2020, RRD completed the sales of its two remaining Logistics businesses for $238 million with the assistance of an external advisor. *In December 2020, RRD generated $96 million in proceeds from liquidating certain insurance policies. *RRD completed nine real estate sales yielding proceeds of $22 million.