On December 27, 2023, Tredegar Corporation, as borrower, and certain of the Company?s material domestic subsidiaries, as guarantors entered into Amendment No. 3 to the Second Amended and Restated Credit Agreement dated June 29, 2022, among the lenders named therein, JPMorgan Chase Bank, N.A., as administrative agent Citizens Bank, N.A. and PNC Bank, National Association, as co-syndication agents, and Bank of America, N.A., U.S. Bank National Association and Wells Fargo Bank, National Association, as co-documentation agents, and the other lenders party thereto that provides the Company with a senior secured asset-based revolving credit facility that will expire on June 30, 2026. The Third Amendment amends the Company?s existing $200 million revolving, secured credit facility under the Prior Credit Agreement that was scheduled to mature on June 29, 2027.

The material terms of the Amended Credit Agreement include the following: Initial aggregate commitments of up to $180 million, which will be reduced to $125 million upon the earlier of March 31, 2025 and the date the Company receives the proceeds from the sale of its flexible packaging films business to Oben Holding Group S.A.C. Permitted borrowing availability based on a portion of eligible receivables, inventories, property, plant and equipment and cash and cash equivalents, as reduced by certain reserves. On the effective date of the Third Amendment, the Company?s borrowing availability was approximately $29.7 million before adjusting for the Minimum Liquidity covenant, and approximately $19.7 million once adjusted for the Minimum Liquidity covenant. Outstanding borrowings will accrue interest at the rates elected by the Company depending on the type of loan and denomination of such borrowing: With respect to revolving loans denominated in U.S. Dollars, the Company may elect interest rates at (a)ABR plus 2.50% before the ABL Adjustment Date and the applicable ABR Spread after the ABL Adjustment Date or (b)the Adjusted Term SOFR Rate plus 3.50% before the ABL Adjustment Date and the applicable Term Benchmark Spread after the ABL Adjustment Date.

Interest rate indices for select non-U.S. dollar borrowings, including borrowings denominated in euro, Pounds Sterling, Swiss Francs and Japanese Yen, remain consistent with the prior terms of the Prior Credit Agreement.