Heritage Bag Announces Price Increase

Q3 2022 Highlights *Net Sales were $2,451 million versus $1,782 million in the prior year quarter. *Net Organic Sales increased 5% in the quarter and 4% year-to-date driven by global demand for sustainable, innovative fiber-based consumer packaging solutions. *Net Income was $193 million versus $73 million in the prior year quarter. *Global liquidity was $1.4 billion at quarter end. *Repurchased $15 million of common stock during the quarter; returned $38 million in total to stockholders in share repurchases and dividends. *In October, published 2021 environmental, social and governance (ESG) report reaffirming organization-wide focus on continuous improvement and highlighting the milestones achieved during the year advancing the Company's Vision 2025 ESG goals.

“Reaching net-zero emissions by 2050 is critical to avoiding the most catastrophic environmental, social, and economic impacts of climate change,” said Tom Salmon, CEO and Chairman of the Board at Berry Global. “As a global plastic packaging leader, we have a responsibility to protect the environment by minimizing the impact of our products, operations, and value chain as well as our business by limiting the exposure of our operations and supply chain to climate risk.” Achieving net-zero GHG emissions will require a range of solutions across Berry’s broad geographic footprint and diverse portfolio of converting and decorating technologies. Emissions reduction strategies primarily fall under three categories: *Circular plastics: drive circularity and reduce GHG emissions by moving away from virgin, fossil fuel-based plastic and using lighter weight, less carbon-intensive, circular materials, including recycled plastics and bio-based plastics made from renewable resources, like used cooking oil *Value-chain engagement: because most of the company’s value-chain emissions come from purchased goods and services, work with customers to develop lower-carbon solutions and suppliers to provide lower-carbon materials and services *Cleaner energy: increase investment in renewable energy to decrease use of fossil fuels, minimize the environmental impact of energy sources vital to manufacturing, continually improve energy efficiency to reduce overall energy dependence, and take steps to electrify processes within operations that consume gas and fuel

Zume, the sustainability solutions company creating economically viable substitutes for single-use plastics, today announced it is furthering its partnership with Solenis, a leading global producer of specialty chemicals. Together, the companies are launching a comprehensive line of PFAS-free packaging to replace plastic and styrofoam with a sustainable alternative for food service applications. Popular for their grease- and water-resistant properties, PFAS (per- and polyfluoroalkyl substances) are widely used chemicals commonly found in food packaging. While molded fiber packaging can be composted, PFAS do not degrade naturally and can leach from containers and move through soils, contaminating drinking water sources and significantly damaging the sustainability and circularity profile of molded fibers. The joint partnership furthers efforts from Zume and Solenis to expand PFAS-free molded fiber solutions to replace entire categories of single-use plastic without harmful chemicals. Zume will provide its advanced molded fiber manufacturing capabilities and professional services, and Solenis will supply its unparalleled expertise in functional additives and surface coatings which increase the strength and functionality of Zume’s fiber recipes.