Sealed Air Corporation announced that it has commenced a cash tender offer (the "Tender Offer") for any and all of its outstanding 5.500% Senior Notes due 2025 (the "Notes"). A comprehensive description of the terms of the Tender Offer is included in SEE's Offer to Purchase, dated June 17, 2024 (the "Offer to Purchase"), and the related Notice of Guaranteed Delivery (the "Notice of Guaranteed Delivery" and, together with the Offer to Purchase, the "Offer Documents"). The following are the details summarizing the material pricing terms of the Tender Offer, which is being made upon, and is subject to, the terms and conditions set forth in the Offer Documents.

Title of Security: 5.500% Senior, Notes due 2025. CUSIPs /ISINs: 81211KAX8/US1211KAX81 (Rule 144A), U81193 AP6 /USU81193AP68. Principal Amount Outstanding: $400,000,000.

U.S.Treasury Reference Security: 2.875% due June 15, 2025. Bloomberg Reference Page: PX4. Fixed Spread: 50 bps.

The Tender Offer will expire at 5:00 p.m., New York City time, on June 24, 2024, unless extended or earlier terminated by SEE (the "Expiration Date"). No tenders submitted after the Expiration Date will be valid. Tenders of Notes may be withdrawn any time at or prior to 5:00 p.m., New York City time, on June 24, 2024, by following the procedures described in the Offer to Purchase.

The consideration (the "Total Consideration") offered for each $1,000 principal amount of the Notes validly tendered and not validly withdrawn and accepted for purchase pursuant to the Tender Offer will be determined in the manner described in the Offer to Purchase by reference to the fixed spread for the Notes specified in the table above plus the yield to maturity based on the bid-side price of the Reference Security specified in the table above, as quoted on the Bloomberg Bond Trader PX4 page as of 2:00 p.m., New York City time, on June 24, 2024, unless extended or earlier terminated by SEE. In addition to the Total Consideration, SEE will also pay accrued and unpaid interest on Notes purchased up to, but not including, the Settlement Date (as defined below). The Settlement Date for Notes validly tendered and not validly withdrawn and accepted for purchase and delivered at or prior to the Expiration Date or delivered pursuant to the guaranteed delivery procedures described in the Offer to Purchase is expected to be June 28, 2024, four business days after the Expiration Date (the "Settlement Date").

Additionally, SEE intends, but is not obligated, to satisfy and discharge any outstanding Notes that are not tendered in the Tender Offer. However, there can be no assurance that such Notes will be satisfied and discharged. Holders must validly tender (and not validly withdraw) their Notes at or prior to the Expiration Date, or deliver a properly completed and duly executed Notice of Guaranteed Delivery for their Notes at or prior to the Expiration Date, and tender their Notes at or prior to the Guaranteed Delivery Date (as defined in the Offer to Purchase), in accordance with the instructions set forth in the Offer to Purchase, in order to be eligible to receive the Total Consideration.

In addition, holders whose Notes are accepted for purchase in the Tender Offer will receive accrued and unpaid interest from the last interest payment date to, but not including, the Settlement Date.