Glatfelter : Sidoti Virtual Small Cap Conference, September 2021

Sidoti Virtual Small Cap Investor Conference

September 22, 2021

NYSE: GLT

Dante Parrini, Chairman & CEO

Forward Looking Statements and Use of Non-GAAP Financial Measures

Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could

cause actual future events to differ materially from the forward-looking statements in this presentation, including, but

not limited to: (i) the risk that the transaction may not be completed in a timely manner or at all, which may adversely affect the price of Glatfelter's securities; (ii) the failure to satisfy the conditions to the consummation of the transaction; (iii) the effect of the announcement or pendency of the transaction on the business relationships, performance, and businesses generally of Glatfelter and Jacob Holm; (iv) risks that the transaction disrupts current plans of Glatfelter and potential difficulties in retaining Jacob Holm employees as a result of the transaction; (v) the outcome of any legal proceedings that may be instituted against Glatfelter related to the transaction; (vi) the price of Glatfelter's securities, including as a result of volatility resulting from changes in the competitive industries in which Glatfelter and Jacob Holm operate, variations in performance across competitors, changes in laws and regulations affecting Glatfelter's and Jacob Holm's businesses and changes in Glatfelter's capital structure; and (vii) Glatfelter's ability to implement business plans, forecasts, and other expectations after the closing of the transaction, and identify and realize additional opportunities. The foregoing list of factors is not exhaustive. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward- looking statements, and Glatfelter assumes no obligation and, except as required by law, does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. More information about these factors is contained in Glatfelter's filings with the Securities and Exchange Commission, which are available at www.glatfelter.com. Glatfelter gives no assurance that it will achieve its expectation.

During the course of this presentation, certain non-U.S. GAAP financial measures will be presented. A reconciliation of these measures to U.S. GAAP financial measures is included in the appendix of this presentation.

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Glatfelter's Ongoing Strategic Transformation

2022 & Beyond

2018 - 2021

Pre-2018

• Expanded internationally acquiring Schoeller & Hoesch GmbH creating Composite Fibers business
• Acquired Lydney, UK facility to expand tea and coffee business
• Acquisition of Concert Industries creates Airlaid Materials business
• Dresden acquisition adds Nonwoven Wallcover product line
• Completed capacity expansions in Composite Fibers to serve Tea, Coffee, and consumer growth markets
• Oberschmitten acquisition expands Electrical product line

• Sale of Specialty Papers • business creates more growth focused and stable Engineered Materials platform

• Terminated and settled	•
qualified pension plan and
reverted $33 million cash back
to company	•

• Fox River liability settled and paid $20.5 million as part of final settlement

• New airlaid facility in Fort	•
Smith, AR expanded capacity
by 20%

Acquired 2 Georgia-Pacific airlaid facilities to expand capacity

and capture and service long term demand for health and hygiene products

Issued first "Sustainability"

report in 2020 formalizing our ESG priorities

Relocated Corporate Headquarters to Charlotte, North Carolina to enhance access to resources and more diverse talent

Recently announced pending acquisition of Jacob Holm to add

scale complementary and best-in-class suite of nonwovens technologies, applications, and products

• Execute on integration of recently announced acquisitions with a focus on synergy capture and deleveraging
• Accelerate innovation to further expand engineered materials product portfolio
• Continue to pursue attractive growth investment opportunities as balance sheet permits

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Investment Highlights

Leading Positions in Growing Segments

Strong Engineering & Innovation Capabilities

• Global engineered materials company serving attractive segments growing at GDP / GDP+ levels
• Categories include feminine hygiene, adult incontinence, tabletop, tea bags, single-serve coffee and wallcover
• Deep knowledge of materials, manufacturing technology and product performance
• Delivering customized solutions and innovative products to key strategic customers
• Building a more sustainable product portfolio focused on eco-friendly materials

Financial Summary*

(TTM 06/30/21)

Sales: ~$939 million

Airlaid

Materials

43%

Composite Fibers

57%

Sustainability & Safety

Operational Excellence & Continuous Improvement

• Robust product safety and quality standards
• Top quartile employee safety track record
• Operational Excellence contributes meaningfully to margin enhancement and improved cash flows
• Continuous Improvement programs focused on minimizing waste, reducing inefficiencies and maximizing uptime

Adjusted EBITDA

~$118 million

1. • 13% Margin
2. - Includes recent Mount Holly acquisition from date of acquisition of May 14th, 2021 but does not reflect recently announced Jacob Holm acquisition

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Airlaid Materials

Key Performance

Characteristics

Highly absorbent Very thin profile Soft, cloth-like feel

Multi-layer capability to create dynamic fluid management systems

Applications

Blue Chip Customers

Primary

Applications

Absorbent Hygiene Products

Personal Care and Home Care

Wipes, Industrial Wipes

Disposable Tabletop Products

Absorbent Food Pads

Primary

Inputs

Fluff Pulp

Synthetic Fibers

Super Absorbent Polymers

Binder

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