Tredegar Corporation

The estimated fair value of Tredegar’s investment in kaléo as of September 30, 2021, as reported in its financial statements, was $35 5 million ($10 49 per kaléo share) Tredegar made its investments in kaléo in August 2007 and December 2008 with an aggregate cost basis of $7 5 million Tredegar received a cash dividend of $17 6 million from kaléo on April 30, 2019 The tax basis of Tredegar’s investment in kaléo is $15 4 million and Tredegar expects for tax purposes to utilize capital loss carryforwards of approximately $25 million to partially offset the capital gains anticipated from the closing of the Transaction

Tredegar Corporation is an industrial manufacturer with three primary businesses: custom aluminum extrusions for the North American building & construction, automotive and specialty end-use markets; surface protection films for high-technology applications in the global electronics industry; and specialized polyester films primarily for the Latin American flexible packaging market Tredegar had 2020 sales from continuing operations of $755 million With approximately 2,400 employees, the Company operates manufacturing facilities in North America, South America, and Asia

Forward-looking and Cautionary Statements Some of the information contained in this press release may constitute “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995 When Tredegar uses the words “believe,” “estimate,” “anticipate,” “appear to,” “expect,” “project,” “plan,” “likely,” “may” and similar expressions, it does so to identify forward-looking statements Such statements are based on Tredegar's then current expectations and are subject to a number of risks and uncertainties that could cause actual results to differ materially from those addressed in the forward-looking statements It is possible that Tredegar's actual results and financial condition may differ, possibly materially, from the forward-looking statements provided in this press release Accordingly, you should not place undue reliance on these forward-looking statements Factors that could cause actual results to differ from expectations include, without limitation, the following: the parties’ inability to complete the Transaction in a timely manner (or at all); the possibility that one or more of the conditions to the consummation of the Transaction may not be satisfied; the possibility that regulatory approvals required for the Transaction may not be obtained in a timely manner, if at all; the parties’ ability to meet expectations regarding the timing, completion and other matters relating to the Transaction; any event that could give rise to the termination of the agreement governing the Transaction; and risks encountered by kaléo in its business, such as operational, competitive, compliance and regulatory risks, that could adversely affect kaléo’s ability to achieve the net revenue targets to trigger additional payments to Tredegar

Tredegar does not undertake, and expressly disclaims any duty, to update any forward-looking statement made in this press release to reflect any change in management’s expectations or any change in conditions, assumptions or circumstances on which such statements are based, except as required by applicable law

View source version on businesswire com: https://www businesswire com/news/home/20211129005228/en/ Tredegar Corporation Neill Bellamy, 804-330-1211 neill bellamy@tredegar com Tredegar Corporation 1100 Boulders Parkway North Chesterfield, Virginia 23225 Phone: 804-330-1000 Toll Free: 855-330-1001 Tredegar Corporation is an industrial manufacturer with three primary businesses: custom aluminum extrusions for the North American building and construction, automotive and specialty markets; surface protection films for high technology applications in the global electronics industry; and specialized polyester films primarily for the Latin American flexible packaging market Tredegar had 2020 sales from continuing operations of $755 million With approximately 2,400 employees, the Company operates manufacturing facilities in North America, South America and Asia