Sealed Air and Ecovative Complete Agreement to Accelerate Commercialization of New Sustainable Packaging Material

Sealed Air Corporation

and Ecovative Design LLC completed an agreement to accelerate the production, sales and distribution of Ecovative's EcoCradle® Mushroom® Packaging, a new technology for environmentally responsible packaging materials made from agricultural byproducts and mycelium, or “mushroom roots”. Details of the transaction were not disclosed. Sealed Air does not expect the transaction to be material to its consolidated financial position or results of operations.