Tredegar completes sale of Terphane to Oben Group for $116M; expects $85M net proceeds

TREDEGAR CORP

Sale closed Nov 1, 2024; total cash-free, debt-free base consideration of $116 million.
After-tax net cash proceeds expected ~$85M: $78M at close plus ~$7M from escrow within 120 days.
Proceeds required to pay down Tredegar's ABL facility; ABL repaid $59.6M in pro forma.
Terphane was Tredegar's flexible packaging films business in Brazil; now reported as discontinued ops.
Transition services agreement for payroll, finance, tax and IT to support ongoing Terphane operations.

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