Tupperware Brands finalized an agreement with its lenders to restructure its existing debt obligations, improving the Company's overall financial position by amending certain credit obligations and extending the maturity of certain debt facilities to allow it to continue with its turnaround efforts.

This agreement is a comprehensive restructuring and reallocation of the Company's debt and provides for, among other things:

• The reduction / reallocation of approximately $150 million of cash interest and fees,
• The extension of the stated maturity of approximately $348 million of principal and reallocated interest and fees to fiscal year 2027 with PIK interest,
• The reduction of amortization payments required to be paid through fiscal year 2025 by approximately $55 million, and
• Immediate access to revolving borrowing capacity of approximately $21 million.

"I am confident that this agreement provides us with the financial flexibility to continue executing on our near-term turnaround efforts as well as our long-term strategy to create a global omni-channel consumer brand. We are committed to making ongoing progress in improving liquidity and strengthening our capital structure. We appreciate the support of our lenders, who share in our strategy, as we move forward," said Mariela Matute, Chief Financial Officer of Tupperware Brands Corporation.

Tupperware's advisors on the debt restructuring agreement include Kirkland & Ellis LLP as legal counsel, Alvarez & Marsal as restructuring advisors, and Moelis & Company as financial advisors.