ITASA FEATURED IN MANUFACTURING TODAY.
An in-depth article highlighting the company’s innovative mindset, sustainability initiatives and customer-focused approach.

We are pleased to announce that Manufacturing Today, one of the industry’s most respected publications, has featured Itasa in an in-depth article. This exclusive article explores our journey as a global leader in the release liner industry, highlighting the innovative mindset, sustainability initiatives and customer-focused approach that drive our success.

The article provides a comprehensive look at how Itasa has continuously evolved to meet the demands of a rapidly changing marketplace. From our investments in cutting-edge technology to our commitment to reducing our environmental footprint, it shows how we combine innovation and sustainability to deliver exceptional value to our partners worldwide.

It also explores our collaboration with key stakeholders, our ambitious growth strategies, and the dedication of our talented team that makes it all possible. As a company rooted in excellence, we are proud to share our story with a broader audience through the Manufacturing Today platform.

We invite you to learn more about Itasa’s journey, values and vision for the future by reading the full article here.

Thank you to Manufacturing Today for this incredible opportunity to share our story with the global manufacturing community
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November, 2024 – Andoain, Gipuzkoa.

Itasa, a world leader in the production of release liners and a proud member of Mativ Holdings, Inc., celebrates its 50th anniversary. This milestone reflects five decades of innovation, sustainability and commitment to the local and global economy.

The commemorative event in Andoain brought together institutional representatives, business leaders and industry stakeholders. The ceremony highlighted Itasa’s achievements and its vision for a responsible, sustainable future.

A HISTORY OF INNOVATION AND GROWTH

From its humble beginnings as a family business in 1974, Itasa has grown to become a global reference in the release liner industry. With operations in Spain and Mexico, the company serves sectors such as personal care, medical, self-adhesive labels, composites and more.

Since joining Mativ Holdings in 2021, Itasa has doubled its production capacity in Mexico and is on track to reach €156 million in sales by 2024, with a growing workforce of 224 employees.

“This anniversary is a moment to reflect on our history and reaffirm our commitment to sustainability and innovation,” said Joseba Zugasti, Sales Director of Itasa.

RECOGNITION FOR SUSTAINABILITY

As part of its commitment to the environment, Itasa has achieved Zero Waste to Landfill certification, recycling 96.5% of its waste and contributing to a circular economy. Initiatives include recycling 198 tons of paper into 13 million boxes and recovering energy from non-recyclable materials, generating 8,500 kWh of electricity.

In addition, Itasa has developed a carbon footprint calculation tool in collaboration with Global Factor. This tool, which is currently being verified by AENOR, allows the precise tracking and reduction of emissions across product families.

The company’s commitment to sustainability has also earned it an EcoVadis Silver rating, placing it among the global leaders in corporate responsibility. “This recognition inspires us to continue promoting responsible practices that have a lasting impact,” said Pablo Galiana, Strategy Director.

CELEBRATING THE ITASA TEAM

During the event, Itasa honored its employees, especially those with more than 25 years of service. “Our success is based on the talent and commitment of our team,” said Argiñe Ormaechea, HR Director. We strive to create an environment where each individual feels valued and driven by a common purpose.

ITASA, WHERE TOMORROW UNFOLDS

With 50 years of expertise, Itasa specializes in high-performance release liners with minimal environmental impact. Serving diverse industries, Itasa continues to lead with innovation and sustainability as core pillars of its strategy.

Itasa obtains the “zero waste” seal from the saica group

• Obtaining this distinction awarded by the Saica Natur division recognises the company’s efforts in its commitment to sustainability and respect for the environment

• The seal reflects that the firm, a Spanish leader in the manufacture of Release Liners, manages to recycle more than 95% of the waste generated in its factory in Andoain

Andoain (Gipuzkoa), June 4 2024
Itasa, a Mativ brand, leader in the manufacture and supply of release liners, which this year celebrates its 50th anniversary, has achieved the “From Waste to Resources: ZERO TO LANDFILL” seal from Saica Natur, a Saica Group company specializing in waste management and environmental services, which in turn is audited and verified by the multinational certification body TÜV SÜD.

This seal highlights the initiatives in waste recovery between Itasa and Saica Natur, whereby, for example, during the 6 months audited, 96.52% of the waste generated, approximately 1,110 tons, were recycled or energetically recovered, thus avoiding landfill and giving them a second use.

It is worth emphasizing the success achieved in this management model, effectively recycling complex materials such as siliconized paper, making it possible for a significant flow, 814 tons, to be reused as secondary raw material.

On the other hand, paper and cardboard waste, which amounted to 198 tons, was transformed into
the equivalent of more than 1.3 million 100% recycled and recyclable cardboard boxes that can be
reintroduced into the economy.

In addition, 17 tons of low-density polyethylene were converted into recycled pellets, equivalent to more than 78,000 m2 of film for use in new applications such as shrink film for grouping or palletizing products, film for bubble wrap to protect goods or stretch film.

This milestone would not have been possible without the committed and involved team of professionals from both companies who are driving the transition to a responsible production model to create a more sustainable future, said Itasa Operations Director Gonzalo Muñoz.
“The choice of Saica Natur as a partner has been key due to its comprehensive waste management capacity, with a mission and ambition closely aligned with those of Itasa. For our team at Itasa it is another milestone on the road to continue looking for sustainable solutions beyond recyclability and zero waste to landfill,”he said.

With this recognition, Itasa becomes an example in its sector in the management of its waste to bring the Circular Economy closer to its customers.

About Itasa

Itasa, a Mativ Brand, is a global leading supplier of release liners, serving a diverse range of industries such as Personal Care, Medical, PS Labels & Shipment, Self-adhesive Tapes and Composites among others worldwide. With 50 years of experience, Itasa offers innovative solutions to meet the evolving needs of the global market. The company operates state-of-the-art manufacturing facilities in Andoain, Spain, and Queretaro, México, equipped with advanced technology and in-house laboratories. In 2022, Itasa became part of Mativ, a global leader in specialty materials with presence across four continents.

www.itasa.es

About Saica Group

The Saica Group is one of Europe’s leading companies in the manufacture of recycled paper for corrugated cardboard, with an annual production capacity of 3.3 million tonnes. With more than 10,300 employees and a presence in Spain, France, Italy, Portugal, the United Kingdom, Ireland, Turkey, Luxembourg, the Netherlands, Poland and the United States, the Saica Group has four lines of business: the manufacture of recycled paper for corrugated cardboard (Saica Paper), waste management and environmental services (Saica Natur), the production of corrugated cardboard packaging (Saica Pack) and flexible packaging (Saica Flex). The group’s turnover is €4,317 million (aggregate sales as of December 31, 2023).

www.saica.com

ALPHARETTA, Ga.–Commensurate with the recent divestiture of the Company’s Engineered Papers business, Mativ Holdings, Inc. (NYSE: MATV) (“Mativ” or the “Company”) today announced organizational realignment initiatives that will streamline organizational size and complexity, and leverage business-critical resources to enhance customer support. As a result of these initiatives, the Company expects to achieve an annualized run-rate of $20 million of overhead cost reduction in 2024 and an additional $20 million by the end of 2026, effectively reducing overhead costs by approximately 15% over that timeframe.

The first wave of this initiative is primarily driven by workforce reductions and indexed toward senior levels of the organization. The second wave of savings will be unlocked by system integrations, further restructuring, and transactional efficiencies. The 2024 charges associated with these initiatives are estimated to be $15-$20 million, which are expected to be incurred predominantly in the first half of 2024.

As part of the realignment, the Company will reorganize into two new segments starting in Q1 2024: Filtration & Advanced Materials, focused primarily on filtration and protective solutions end markets, and Sustainable & Adhesive Solutions, focused primarily on release liners, industrials, healthcare, and packaging and specialty papers end markets. Christoph Stenzel, Filtration President, has been promoted to Group President, Filtration & Advanced Materials, and Ryan Elwart will join Mativ as Group President, Sustainable & Adhesive Solutions, effective as of January 30, 2024. Mr. Elwart joins Mativ from Georgia-Pacific, where he spent the last 16 years in roles of increasing responsibility, most recently as Chief Customer Officer of Georgia-Pacific’s Consumer Products division.

“The two consolidated segments, in addition to reducing organizational complexity and enabling substantial cost savings, will allow us to better support our customers through increased cross-selling opportunities, shared technologies and leveraging selling, marketing and R&D expertise,” said Julie Schertell, president and chief executive officer of Mativ. “I am very pleased to promote Christoph and welcome Ryan to the Mativ team. These appointments are paramount to the growth of our business and perfectly complement our leadership team.”

“We are continuing to aggressively drive our portfolio toward higher growth and higher margins,” Schertell continued. “This started with the merger in mid-2022, followed by the divestiture of Engineered Papers in late 2023. Now is the right time to resize our non-operating costs, and while this is never an easy task, it is important for our future. The savings are substantial and support our target to deliver mid-teen EBITDA margins, increased cash flow, and our continued focus on deleveraging,” concluded Schertell.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 (the “Act”) that are subject to the safe harbor created by that Act and other legal protections. Forward-looking statements include, without limitation, those regarding positioning Mativ for long-term success and right-sizing Mativ’s administrative functions, the expected benefits of strategic realignment actions, including reducing costs allowing Mativ to better support customers, Mativ’s expected financial position, business strategy, operating plans, capital and other expenditures, acquisitions and divestitures, and other plans and objectives related to the planned strategic realignment actions, including the amount and timing of expected EBITDA margin benefit, increased cash flow and returns, and continued deleveraging, and other statements generally identified by words such as “believe,” “expect,” “intend,” “guidance,” “plan,” “forecast,” “potential,” “anticipate,” “confident,” “project,” “appear,” “future,” “should,” “likely,” “could,” “may,” “will,” “typically,” and similar words.

These forward-looking statements are prospective in nature and not based on historical facts, but rather on current expectations and on numerous assumptions regarding the business strategies and the environment in which Mativ will operate in the future and are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied by those statements. No assurance can be given that such expectations will prove to have been correct and persons reading this presentation are therefore cautioned not to place undue reliance on these forward-looking statements which speak only as at the date of this press release. These statements are not guarantees of future performance and involve certain risks and uncertainties, and assumptions that may cause actual results to differ materially from our expectations as of the date of this release. These risks include, among others, general economic conditions, the preliminary nature of the estimates related to the strategic realignment actions and the possibility that all or some of the estimates may change as Mativ’s analysis develops and additional information is obtained, Mativ’s ability to timely implement the strategic realignment actions in a manner that will positively impact the Company’s financial condition and results of operations, the impact of the strategic realignment actions on Mativ’s relationships with its employees, customers and vendors, the amount of costs, fees, expenses and charges related to the strategic realignment actions and the possibility of unexpected costs, liabilities or delays in connection with the strategic realignment actions, risks that the strategic realignment actions disrupt current plans and operations of Mativ, and factors that may cause Mativ to be unable to achieve the expected benefits of the strategic realignment actions. All forward-looking statements made in this press release are qualified by these cautionary statements. Forward-looking statements herein are made only as of the date of this press release, and Mativ undertakes no obligation, other than as may be required by law, to update or revise any forward-looking or cautionary statements to reflect changes in assumptions, the occurrence of events, unanticipated or otherwise, or changes in future operating results over time or otherwise. Also see the information under the captions “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in Mativ’s most recent annual report on Form 10-K for the year ended December 31, 2022 and any material updates to these factors contained in any of Mativ’s future filings with the U.S. Securities and Exchange Commission. The discussion of these risks is specifically incorporated by reference into this release.

About Mativ

Mativ Holdings, Inc. is a global leader in specialty materials headquartered in Alpharetta, Georgia. The company makes material impacts on the world every day through a wide range of critical components and engineered solutions that solve our customers’ most complex challenges. We manufacture on three continents and generate sales in nearly 100 countries through our family of business-to-business and consumer product brands. The company’s two segments, Filtration & Advanced Materials and Sustainable & Adhesive Solutions, target premium applications across diversified and growing end-markets, from filtration to healthcare to sustainable packaging and more. Our broad portfolio of technologies combines polymers, fibers, and resins to optimize the performance of our customers’ products across multiple stages of the value chain. Our leading positions are a testament to our best-in-class global manufacturing, supply chain, and materials science capabilities. We drive innovation and enhance performance, finding potential in the impossible.

Media Contacts for Mativ
Brendan Streich – VP, Global Communications and Engagement

media@mativ.com

Check out the article that “Manufacturing Today” magazine has done about Itasa.

Sustainability in the paper industry is evolving, and ITASA wants to be part of the journey
Next year, 2024, global business, ITASA, renowned for industry-leading release liners, will be celebrating its 50th anniversary. Industrias de transformación de Andoain (ITASA), which recently became a branch of American business, Mativ, has remained a successful enterprise by capitalizing on growth opportunities and reinvestments. Coincidentally, ITASA’s President, Olivier Lavaud, will also be celebrating his golden jubilee. He sits down with Manufacturing Today to discuss challenges in the paper industry, and his thoughts on the importance of honesty and realistic intentions on the journey to becoming a sustainable company.

Sustainability in the paper industry is evolving, and ITASA wants to be part of the journey 

Queretaro, Mexico – September 8, 2023 – ITASA, a global leader in release liner manufacturing, is proud to announce a significant expansion of its operation in Mexico.

The commissioning of a 2nd coating line in October is a significant milestone. The greenfield site that opened in 2019 features 2 state-of-the-art silicone coaters, dedicated to sales in North & Latin America.

2 slitters have been added to provide maximum flexibility, as well as an offline flexo printer to enable product customization for a growing number of applications.

This sizable investment will help ITASA consolidate its footprint in the Americas, bringing the company closer to customers and capitalizing on the continent’s growth potential.

The line boasts advanced features, including a high-speed winders system, deflection-compensated rollers for precise coating, fast production change capabilities, and the innovative Mistex® system that eliminates misting during the coating process.

ITASA utilizes the patented Speed-Star® drying and air circulation system to ensure safe and contactless web passage at the optimum temperature profile across the web, handling various base materials and thicknesses with automatic splicing. The design high operational reliability, minimizing downtime while maintaining precise reproducibility of quality-assuring production parameters. The Fluidex® steam remoisturizing system enhances product flatness and production reliability.

Speaking to our President, Olivier Lavaud, he said “We are thrilled to embark on a new chapter of growth and innovation. As a global leader in release liner manufacturing, our commitment to excellence drives us to constantly push boundaries and set new standards. This investment is proof of our dedication to meeting the evolving needs of our customers. We reinforce our position as a global leader, with the support of Mativ. As we are about to celebrate our 50th anniversary, this transformative moment makes all of us proud to carry on the wonderful journey that started in 1974.”

About Industrias de Transformación S.A.U. (Itasa)

ITASA a Mativ brand, is a global leading supplier of release liners. With 50 years of experience, Itasa provides solutions to various industries and end-uses around the world, meeting the needs of the rapidly changing global market. Since 2022, Itasa has been part of Mativ, a global leader in specialty materials with manufacturing sites across 4 continents, and products sold in more than 100 countries.

Media Contact:
Ms. Leyre García
Marketing & Communications Manager
Email: leyre.garcia@neenah.com
Phone: +34621278928

Surat, India and Andoain, Spain – July 10, 2023 – Spoton Coatings Private Limited (Spoton) and Industrias de Transformación de Andoain S.A.U. (Itasa) are pleased to announce the signing of a Marketing Alliance Agreement, solidifying their strategic collaboration and mutual commitment to expanding their businesses globally.

This agreement, effective from July 10, 2023, marks a significant milestone in the efforts of both companies to diversify their product offerings and strengthen their positions as leaders in selected market.

According to the terms of the Agreement, Itasa’s extensive sales network will serve as the exclusive distributor of all filmic materials produced by Spoton in the Americas, Europe, Africa, Middle East, and selected Asian markets. Similarly, all sales of Itasa products manufactured in Spain and Mexico, destined for the Indian market, will be exclusively channeled through Spoton.

The primary focus of this marketing alliance will be on marketing and selling siliconized papers, including glassine, CCK, MGBK, and PCK. Both Spoton and Itasa are dedicated to delivering high-quality products to customers.

The Marketing Alliance Agreement will allow both companies to work closely together to achieve their common goals of business expansion and product diversification. This collaboration represents a significant step forward for Spoton and Itasa, reinforcing their commitment to providing exceptional products and services to their customers worldwide.

“Spoton and Itasa are thrilled about the prospects that this Marketing Alliance Agreement brings,” said Mr. Paresh Kothia, Managing Director of Spoton Coatings Private Limited. “By leveraging the strengths and capabilities of both companies, we are confident that we can accelerate our growth and better serve our customers in the global market.”

Mr. Olivier Lavaud, President of Industrias de Transformación de Andoain S.A.U., shared his enthusiasm, stating, “This alliance reflects our shared commitment to innovation and customer satisfaction. Together with Spoton, we will be able to reach new heights and offer unparalleled solutions to our clients worldwide.”

About Spoton Coatings Private Limited

Established in 2014, Spoton Coatings Private Limited is a leading manufacturer of silicone coated release liners based in Surat, Gujarat, India. With 12 years of experience in the industry, Spoton operates two manufacturing facilities and employs cutting-edge technology to produce high-quality products. The company’s focus lies in serving various industries, with a particular emphasis on the Hygiene Industry. Spoton aims to expand its customer base globally while delivering competitive offers and exceptional customer service.

To learn more, visit www.spotoncoating.com

About Industrias de Transformación S.A.U. (Itasa)

Itasa is a global leading supplier of release liners, serving a diverse range of industries such as Personal Care, Medical, PS Labels & Shipment, Self-adhesive Tapes and Composites among others worldwide. With 50 years of experience, Itasa offers innovative solutions to meet the evolving needs of the global market. The company operates state-of-the-art manufacturing facilities in Andoain, Spain, and Queretaro, México, equipped with advanced technology and in-house laboratories. In 2022, Itasa became part of Mativ, a global leader in specialty materials with presence across four continents.

To learn more, visit www.itasa.es

Media Contact:

Ms. Leyre García

Marketing & Communications Manager

Itasa

Email: leyre.garcia@neenah.com

Phone: +34 621278928

Well-Positioned to Serve Customers with Leading Technologies, Innovation, and Global Scale
Clear Path to Deliver $65+ Million Cost Synergy Plan, With Additional Upside Opportunities to Accelerate Revenue Growth

ALPHARETTA, Ga.– July 6, 2022 – Mativ Holdings, Inc. (NYSE: MATV) (“Mativ” or the “Company”) today announced the successful completion of the merger of equals between Schweitzer-Mauduit International, Inc. (“SWM”) and Neenah, Inc. (“Neenah”), two leading global manufacturers of specialty materials, effective July 6, 2022. Mativ has approximately $3 billion in sales, supporting customers in more than 100 countries, and manufacturing capabilities on four continents. Beginning Wednesday, July 6, 2022, the Company will commence trading on the New York Stock Exchange (NYSE) at the market open, under the new ticker symbol “MATV.”

Pursuant to the merger agreement, Neenah shareholders received 1.358 shares of SWM common stock for each share of Neenah common stock owned. SWM’s shareholders will continue to hold their shares of SWM common stock. All SWM shares are now shares of Mativ common stock.

Julie Schertell, President and CEO of Mativ, commented, “I am extremely excited and proud to mark this important milestone in the journey of our two companies with the formation of Mativ. This merger is a unique opportunity to boldly reimagine our future as a stronger and faster-growing global enterprise. As we come together, we see significant near and long-term value creation opportunities to accelerate growth and amplify margins. With compelling strategic touch-points in key market categories, complementary geographies and technologies, increased global scale, and a passionate workforce with deep roots in material science, we are ideally suited to help solve our customer’s most critical challenges, which is the foundation of our cultural, commercial and financial success.”

Schertell continues, “As we bring the best of these two organizations together, our priorities are centered around supporting our customers, accelerating our growth, delivering the $65 million, or more, of deal-enabled cost synergies, and driving margins and cash flows to support deleveraging and a strong dividend. We will also continue to execute our strategy, including investments in our fastest growing and most profitable business units and decisive actions to optimize our portfolio over time. Mativ has tremendous potential, and, as we celebrate this new beginning, I want to recognize the efforts of our outstanding employees who work tirelessly every day to push the limits of what is possible.”

“Today marks an exciting new chapter in the rich histories of both companies, forming a scaled global leader in specialty materials to drive value for customers, employees, stakeholders, and our shareholders,” said Dr. John Rogers, Chairman of Mativ’s Board of Directors. “We will continue executing a well-defined strategy, maintain an attractive financial profile, and advance our corporate stewardship and governance efforts. Mativ is committed to providing attractive returns to shareholders while maintaining a prudent balance sheet and disciplined approach to capital allocation. We have assembled an exceptional, diverse, and experienced leadership team, and we look forward to working with Julie and her talented group of leaders to deliver on the promise of this transaction.”

Financial Reporting

Mativ will disclose financial results for two reporting segments: Advanced Technical Materials (ATM) and Fiber-Based Solutions (FBS). The ATM segment is comprised of five non-reporting business units: Filtration, Protective Solutions, Release Liners, Healthcare, and Industrials. This segment generally represents the combination of SWM’s legacy Advanced Materials and Structures and Neenah’s Technical Products reporting segments. ATM will deliver solutions that filter and purify air and liquids, support adhesive and protective applications, advance healing and wellness, and solve some of material science’s most demanding performance needs.

The FBS segment is comprised of two non-reporting business units: Engineered Papers and Packaging and Specialty Paper – and represents SWM and Neenah’s respective legacy paper segments. FBS will leverage the combined company’s extensive natural fiber capabilities to provide specialty solutions for various end-uses, including sustainable packaging, imaging and communications, home and office, and consumer goods, among other applications.

For the second quarter of 2022, Mativ will report financial results for legacy SWM and select financial and business highlights from Neenah. A call to discuss results, business performance, and future outlook, will be scheduled for August 10, 2022. Beginning in the third quarter of 2022, Mativ’s financials will be reported on a consolidated basis consistent with the timing effectiveness of the merger.

The Company intends to announce its first quarterly dividend distribution in conjunction with its second-quarter earnings release, following approval by its Board of Directors.

Additional information and an overview of Mativ’s products and services can be found at www.mativ.com.

About Mativ
Mativ Holdings, Inc. is a global leader in specialty materials headquartered in Alpharetta, Georgia. The Company offers a wide range of critical components and engineered solutions to solve our customers’ most complex challenges. With over 7,500 employees worldwide, we manufacture on four continents and generate sales in more than 100 countries. The Company’s two operating segments, Advanced Technical Materials and Fiber-Based Solutions, target premium applications across diversified and growing end-markets, from filtration to healthcare to sustainable packaging. Our broad portfolio of technologies combines polymers, fibers, and resins to optimize the performance of our customers’ products across multiple stages of the value chain. Our leading positions are a testament to our best-in-class global manufacturing, supply chain, and materials science capabilities. We drive innovation and enhance performance, finding potential in the impossible.

Forward-Looking Statements
This press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements, which are based on current expectations, estimates and projections about the industry and markets in which Mativ operates and beliefs of and assumptions made by Mativ management, involve uncertainties that could significantly affect the financial condition, results of operations, business plans and the future performance of Mativ. Words such as “believes,” “anticipates,” “expects,” “assumes,” “outlook,” “intends,” “targeted,” “estimates,” “forecasts,” “projects,” “plans,” “may,” “could,” “should,” “would” and similar expressions are intended to identify forward-looking statements but are not the exclusive means of identifying these statements. Such forward-looking statements include, but are not limited to, statements about the strategic rationale and financial benefits of the transaction, including expected future financial and operating results and the combined company’s plans, objectives, expectations and intentions. All statements that address operating performance, events or developments that we expect or anticipate will occur in the future — including statements relating to projections of revenue, income or loss, earnings or loss per share, the payment or nonpayment of dividends, capital structure and other financial items; statements of plans and objectives of Mativ or its management or Board of Directors, including those relating to products or
services; and statements of future economic performance — are forward-looking statements. These statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions that are difficult to predict. Although we believe the expectations reflected in any forward-looking statements are based on reasonable assumptions, we can give no assurance that our expectations will be attained, and therefore actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements. In addition to factors previously disclosed in Mativ’s reports filed with the U.S. Securities and Exchange Commission (the “SEC”) and those identified elsewhere in this communication, the following factors, among others, could cause actual results to differ materially from forward-looking statements or historical performance: failing to fully realize anticipated cost savings and other anticipated benefits of the merger with Neenah when expected or at all; the substantial indebtedness Mativ has incurred and assumed in connection with the transaction and the need to generate sufficient cash flows to service and repay such debt; the possibility that Mativ may be unable to achieve expected synergies and operating efficiencies within the expected time-frames or at all and to successfully integrate Neenah’s operations with those of Mativ; failing to comply with the applicable laws or legal or regulatory developments; inflation, currency and interest rate fluctuations; the ability of Mativ to retain and hire key personnel; the diversion of management’s attention from ongoing business operations; the duration and effects of the COVID-19 pandemic, general economic and business conditions, particularly in the context of the COVID-19 pandemic; increases in maintenance and operating costs; security threats; reliance on technology and related cybersecurity risk; trade restrictions or other changes to international trade arrangements; transportation of hazardous materials; various events which could disrupt operations, including geopolitical events, wars, conflicts, illegal blockades of rail networks, and natural events such as severe weather, droughts, fires, floods and earthquakes; climate change; labor negotiations and disruptions; environmental claims; uncertainties of investigations, proceedings or other types of claims and litigation; risks and liabilities arising from train derailments; timing and completion of capital programs; uncertainty as to the long-term value of the common stock of Mativ, including the dilution caused by Mativ’s issuance of additional shares of its common stock in connection with the merger; the continued availability of capital and financing; the business, economic and political conditions in the markets in which Mativ operates; and events beyond Mativ’s control, such as acts of terrorism. Any forward-looking statements speak only as of the date of this communication or as of the date they were made, and Mativ does not undertake any obligation to update forward-looking statements. For a more detailed discussion of these factors, also see the information under the captions “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in Mativ’s most recent annual report on Form 10-K for the year ended December 31, 2021, quarterly report on Form 10-Q for the period ended March 31, 2022, and any material updates to these factors contained in any of Mativ’s future filings with the SEC.

Contacts

Investors
Mark Chekanow, CFA
Director, Investor Relations
(770) 569-4229
investors@mativ.com

Media
Missy Elam
Director, Communications
(678) 518-3263
media@mativ.com

Source: Mativ Holdings, Inc., Schweitzer-Mauduit International, Inc, and Neenah, Inc.

ALPHARETTA, GA., April 6, 2021 — Neenah, Inc. (NYSE: NP) announced today that it had completed the previously announced agreement to acquire Global Release Liners, S.L., the parent company of Industrias de Transformacion de Andoain, S.A. (“ITASA”), from Magnum Capital and other minority shareholders.

The Company funded the purchase price of approximately €205 million, inclusive of debt extinguishment and subject to customary closing adjustments, through available cash-on-hand and an upsizing of Neenah’s existing Term Loan B from $200 million to $450 million. Interest rates on the Term Loan B are variable and are currently at 3.5 percent. Neenah will continue to maintain a strong liquidity position, with ample availability under its revolving credit line and a projected debt to EBITDA of approximately three times after closing the transaction.

About Neenah, Inc.

Neenah is committed to manufacturing growth for its customers, end users, shareholders and employees. With manufacturing facilities in the North America, Europe, the United Kingdom and Malaysia, we are a leading global manufacturer of specialty materials serving customers across six continents, with headquarters in Alpharetta, GA. We are focused on growing in filtration media, specialty coatings, custom-engineered materials and premium packaging. Our materials are found in a variety of products used every day, such as transportation and water filters, release liners, premium packaging of spirits, technology and beauty products, industrial labels, tapes and abrasives and digital printing for high-end apparel. To learn more, please visit www.neenah.com.

Cautionary Note Regarding Forward-Looking Statements

Certain statements in this press release may constitute “forward-looking” statements as defined under the federal securities laws. Statements contained in this press release that are not historical facts may be forward-looking statements within the meaning of the federal securities laws and we caution investors that any forward-looking statements we make are not guarantees or indicative of future performance. These forward-looking statements rely on a number of assumptions concerning future events and are subject to risks, uncertainties and other factors, many of which are outside of our control and could cause actual results to materially differ from such statements. Such risks, uncertainties and other factors include, but are not necessarily limited to, those set forth under the captions “Forward-Looking Statements” and/or “Risk Factors” of our latest Form 10-K filed with the SEC as periodically updated by subsequently filed Form 10-Qs (these securities filings can be located on our website at www.neenah.com). Unless specifically required by law, we assume no obligation to update or revise these forward-looking statements to reflect new events or circumstances. These cautionary statements are being made with the intention of obtaining the benefits of the “safe harbor” provisions for forward-looking statements under the federal securities laws.