Today I am pleased to provide a high-level overview of NewCo's go-forward organizational structure along with the currently identified leadership positions to be effective on the day of closing, with a focus on the roles related to the core business and organizational integration.

Additional announcements will be made in the future.

Over the last few months, I have met with the Board of Directors of Glatfelter and Berry, as well as senior leaders from both organizations to align and create the best operating model for NewCo to ensure we are ready on day one to meet and exceed our business objectives and stakeholder expectations.

NewCo's Operating Model

It is intended that NewCo will be structured using a regional operating model, with two primary regions - one for the Americas (North, South, and Latin Americas) and a second region for Europe, Middle East, Asia and all remaining locations throughout the globe (EMEIA & rest of world).

The regional structure is reliant on decision making at the local level, expediting our ability to take the actions required to successfully operate our business in the fast-paced markets where we compete. While this structure differs from Glatfelter's current global functional operating model, it is a proven approach for the majority of NewCo's business that will come from Berry and I am confident it will support a winning operating model for the start and on-going success of NewCo.

Under this approach, Glatfelter's Composite Fibers business and the specialty businesses for both Berry and Glatfelter will be fully integrated into the regions. This approach reinforces the importance of these markets and customers to NewCo's strategic growth plans.

For Glatfelter employees specifically, the change to a regional structure should not materially impact your day-to-day job functions. Employees with global responsibilities will continue to operate within their normal duties. There may be instances where certain roles will have a shift in their regional responsibilities or other certain expanded responsibilities to best position the team to address business needs if we determine those roles would better serve in support of a region. However, those decisions would not be made until a later time once work in earnest on this new structure moves forward in each region.

Local employee representatives and employees, as the case may be, will continue to be involved as required within the context of the decisions to be made or implemented.

Cautionary Statement Concerning Forward-Looking Statement

Statements in this release that are not historical, including statements relating to the expected timing, completion and effects of the proposed transaction between Berry Global Group, Inc., a Delaware corporation ('Berry'), and Glatfelter Corporation, a Pennsylvania corporation ('Glatfelter' or the 'Company'), are considered 'forward-looking' within the meaning of the federal securities laws and are presented pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. You can identify forward-looking statements because they contain words such as 'believes,' 'expects,' 'may,' 'will,' 'should,' 'would,' 'could,' 'seeks,' 'approximately,' 'intends,' 'plans,' 'estimates,' 'projects,' 'outlook,' 'anticipates' or 'looking forward,' or similar expressions that relate to strategy, plans, intentions, or expectations. All statements relating to estimates and statements about the expected timing and structure of the proposed transaction, the ability of the parties to complete the proposed transaction, benefits of the transaction, including future financial and operating results, executive and Board transition considerations, the combined company's plans, objectives, expectations and intentions, and other statements that are not historical facts are forward-looking statements. In addition, senior management of Berry and Glatfelter, from time to time may make forward-looking public statements concerning expected future operations and performance and other developments.

Actual results may differ materially from those that are expected due to a variety of factors, including without limitation: the occurrence of any event, change or other circumstances that could give rise to the termination of the proposed transaction; the risk that Glatfelter shareholders may not approve the transaction proposals; the risk that the necessary regulatory approvals may not be obtained or may be obtained subject to conditions that are not anticipated or may be delayed; risks that any of the other closing conditions to the proposed transaction may not be satisfied in a timely manner; risks that the anticipated tax treatment of the proposed transaction is not obtained; risks related to potential litigation brought in connection with the proposed transaction; uncertainties as to the timing of the consummation of the proposed transaction; unexpected costs, charges or expenses resulting from the proposed transaction; risks and costs related to the implementation of the separation of the business, operations and activities that constitute the global nonwovens and hygiene films business of Berry (the 'HHNF Business') into Treasure Holdco, Inc., a Delaware corporation and a wholly owned subsidiary of Berry ('Spinco'), including timing anticipated to complete the separation; any changes to the configuration of the businesses included in the separation if implemented; the risk that the integration of the combined company is more difficult, time consuming or costly than expected; risks related to financial community and rating agency perceptions of each of Berry and Glatfelter and its business, operations, financial condition and the industry in which they operate; risks related to disruption of management time from ongoing business operations due to the proposed transaction; failure to realize the benefits expected from the proposed transaction; effects of the announcement, pendency or completion of the proposed transaction on the ability of the parties to retain customers and retain and hire key personnel and maintain relationships with their counterparties, and on their operating results and businesses generally and other risk factors detailed from time to time in Glatfelter's and Berry's reports filed with the Securities and Exchange Commission ('SEC'), including annual reports on Form 10-K, quarterly reports on Form 10-Q, current reports on Form 8-K and other documents filed with the SEC. These risks, as well as other risks associated with the proposed transaction, will be more fully discussed in the registration statements, proxy statement/prospectus and other documents that will be filed with the SEC in connection with the proposed transaction. The foregoing list of important factors may not contain all of the material factors that are important to you. New factors may emerge from time to time, and it is not possible to either predict new factors or assess the potential effect of any such new factors. Accordingly, readers should not place undue reliance on those statements. All forward-looking statements are based upon information available as of the date hereof. All forward-looking statements are made only as of the date hereof and neither Berry nor Glatfelter undertake any obligation to update or revise any forward-looking statement as a result of new information, future events or otherwise, except as otherwise required by law.


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