Verso Corporation (the Company) and Lapetus Capital II LLC (together with its affiliates, including Atlas Holdings LLC, Atlas) and Blue Wolf Capital Advisors IV, LLC (Blue Wolf) and their respective affiliates, announced that they have reached an agreement to settle the pending proxy contest with respect to the Company's 2019 Annual Meeting of Stockholders and certain other matters. As part of the Cooperation Agreement, Paula H. J. Cholmondeley, Steven Scheiwe, Jay Shuster and Timothy Lowe have agreed to not stand for election at the Annual Meeting. Pursuant to the cooperation agreement (the "Cooperation Agreement"), the Company, Atlas and Blue Wolf have agreed to take all action necessary for the Board to consist of the following individuals immediately subsequent to the Annual Meeting: Sean T. Erwin, Jeffrey E. Kirt and Marvin Cooper (the "Investor Nominees"); Dr. Robert K. Beckler, Randy Nebel and Nancy M. Taylor (the "Company Nominees"); and Adam St. John (the "Executive Director"). Mr. Erwin will be appointed Chairman of the Board.