Pyxus repurchases $112M in notes at 23% discount; expects $142.9M total debt reduction

PYXUS INTERNATIONAL, INC.

Repurchased $78M principal of 8.5% Senior Secured Notes due 2027 for $60M cash (23% discount to par).
Rights to buy additional $34.2M notes at same discount and $10.3M term loans at 12% discount.
Expects to retire $20.4M of 10% Senior Secured Notes due August 2024 at maturity.
Total long-term debt to decrease from $600.6M to $457.8M, reducing annual interest cost by $12.9M.
Transactions funded from cash on hand; closing by March 29, 2024 and optional tranche by September 30, 2024.

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