Berry Global Group, Inc. Announces Proposed Offering of First Priority Senior Secured Notes and Second Priority Senior Secured Notes

Berry Global Group, Inc. (NYSE:BERY) (“Berry”) announced today that its
indirect, wholly-owned subsidiary, Berry Global Escrow Corporation (the
“Issuer”), plans to issue $2,000,000,000 of first priority senior
secured notes due 2026 (the “First Priority Notes”) and $1,000,000,000
of second priority senior secured notes due 2027 (the “Second Priority
Notes” and together with the First Priority Notes, the “Notes”).

The proceeds from the offering are intended to be used to fund a portion
of the cash consideration due in respect of the previously announced
acquisition of all of the equity of RPC Group Plc, a public limited
company incorporated in England and Wales (“RPC” and such acquisition,
the “RPC Acquisition”), to repay certain existing debt of RPC and its
subsidiaries, to prepay an existing Berry term loan and to pay related
fees and expenses. Unless the RPC Acquisition is consummated
concurrently with the closing of the offering, all proceeds of the
offering will be deposited into two segregated escrow accounts, one
containing the proceeds from the First Priority Notes, and the other,
the proceeds from the Second Priority Notes, each together with any
additional amounts necessary to redeem the Notes, until the obligations
of the Issuer under the Notes are assumed by Berry Global, Inc. (“BGI”),
a direct and wholly owned subsidiary of Berry, and certain other
conditions are satisfied in connection with the consummation of the RPC
Acquisition. Amounts held in the escrow accounts will be pledged for the
benefit of the applicable holders of the Notes, pending the release of
such funds in connection with the consummation of the RPC Acquisition.

The Notes are being offered only to persons reasonably believed to be
qualified institutional buyers in reliance on Rule 144A under the
Securities Act of 1933, as amended (the “Securities Act”), and outside
the United States, only to non-U.S. investors pursuant to Regulation S.
The Notes have not been and will not be registered under the Securities
Act or any state securities laws and may not be offered or sold in the
United States absent an effective registration statement or an
applicable exemption from registration requirements or a transaction not
subject to the registration requirements of the Securities Act or any
state securities laws.

This press release shall not constitute an offer to sell or the
solicitation of an offer to buy any security and shall not constitute an
offer, solicitation or sale in any jurisdiction in which such offering,
solicitation or sale would be unlawful. Any offers of the Notes will be
made only by means of a private offering memorandum.

About Berry Global

Berry, headquartered in Evansville, Indiana, is committed to its mission
of ‘Always Advancing to Protect What’s Important,’ and proudly partners
with its customers to provide them with value-added protective
solutions. Berry is a leading global supplier of a broad range of
innovative non-woven, flexible, and rigid products used every day within
consumer and industrial end markets. Berry, a Fortune 500 company,
generated $7.9 billion of sales in fiscal 2018. For additional
information, visit Berry’s website.

Forward Looking Statements

Certain statements and information included in this release may
constitute “forward looking statements” within the meaning of the
Federal Private Securities Litigation Reform Act of 1995. You can
identify forward-looking statements because they contain words such as
“believes,” “expects,” “may,” “will,” “should,” “would,” “could,”
“seeks,” “approximately,” “intends,” “plans,” “estimates,”
“anticipates,” “outlook,” or “looking forward,” or similar expressions
that relate to our strategy, plans or intentions. All statements we make
relating to our estimated and projected earnings, margins, costs,
expenditures, cash flows, growth rates and financial results or to our
expectations regarding future industry trends are forward-looking
statements. Such forward-looking statements involve known and unknown
risks, uncertainties and other factors which may cause the actual
results, performance, or achievements of Berry to be materially
different from any future results, performance, or achievements
expressed or implied in such forward looking statements. Additional
discussion of factors that could cause actual results to differ
materially from management’s projections, forecasts, estimates and
expectations is contained in Berry’s filings with the U.S. Securities
and Exchange Commission (the “SEC”). Berry does not undertake any
obligation to update any forward-looking statements, or to make any
other forward-looking statements, whether as a result of new
information, future events or otherwise. In addition, we, through our
senior management, from time to time make forward-looking public
statements concerning our expected future operations and performance and
other developments. These forward-looking statements are subject to
risks and uncertainties that may change at any time, and, therefore, our
actual results may differ materially from those that we expected.

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