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GLATFELTER REPORTS FIRST QUARTER 2024 RESULTS

~ Achieved significant merger milestone with expiration of HSR waiting period ~

2024 First Quarter Highlights:

  • Generated net sales of ~$327 million and a GAAP net loss from continuing operations of $26.2 million
  • Achieved Q1 Adjusted EBITDA of $23.8 million with an improved EBITDA margin of 7.3%
  • Delivered continued robust Spunlace performance with ~$5 million improved EBITDA
  • Improved Composite Fibers EBITDA by ~$2 million, consistent with expectations
  • Recorded ~$9 million lower EBITDA in Airlaid Materials primarily due to ongoing European market softness

CHARLOTTE, North Carolina – May 9, 2024

Glatfelter Corporation (NYSE: GLT), a leading global supplier of engineered materials, today reported financial results for the first quarter of 2024 and provided an update on progress of its proposed merger with…

About Glatfelter

Glatfelter is a leading global supplier of engineered materials with a strong focus on innovation and sustainability. The Company’s high-quality, technology-driven, innovative, and customizable nonwovens solutions can be found in products that are Enhancing Everyday Life®. These include personal care and hygiene products, food and beverage filtration, critical cleaning products, medical and personal protection, packaging products, as well as home improvement and industrial applications. Headquartered in Charlotte, NC, the Company’s 2023 revenue was $1.4 billion with approximately 2,980 employees worldwide. Glatfelter’s operations utilize a variety of manufacturing technologies including airlaid, wetlaid and spunlace with fifteen manufacturing sites located in the United States, Canada, Germany, France, Spain, the United Kingdom, and the Philippines. The Company has sales offices in all major geographies serving customers under the Glatfelter and Sontara® brands. Additional information about the Company may be found on our website at www.glatfelter.com or connect with us on LinkedIn.