Contract analysis

1. Occurrence of the Effective Date On September 2, 2022, the United States Bankruptcy Court for the Northern District of Ohio, Eastern Division (the "Court"), entered the Order Confirming the Prepackaged Plan of Reorganization of Crestline Packaging Solutions LLC and CPS Holdings Inc. Pursuant to Chapter 11 of the Bankruptcy Code [Dkt. 112] (the "Confirmation Order"), confirming the Prepackaged Plan of Reorganizatio

2. Conditions Satisfied The following conditions precedent to the Effective Date set forth in Article IX.A of the Plan were satisfied as of September 30, 2022: (a) Entry of the Confirmation Order as a Final Order. The Confirmation Order was entered by the Court on September 2, 2022, and has become a Final Order (as defined in the Plan). No stay of the Confirmation Order is in effect, no motion or appeal seeking to va

3. Distributions and Implementation As of the Effective Date, the Plan has been substantially consummated within the meaning of 11 U.S.C. § 1101(2), and distributions under the Plan have commenced, or will commence as soon as reasonably practicable, in accordance with the terms and conditions of the Plan and the Confirmation Order. Holders of Allowed Claims in the various classes established under the Plan are being

4. Administrative Claims Bar Date Pursuant to the Confirmation Order, holders of administrative expense claims arising under section 503(b) of the Bankruptcy Code (other than (i) professional fee claims subject to the procedures set forth in Article II of the Plan and the Confirmation Order, (ii) claims of professionals retained by the Debtors or any statutory committee appointed in these chapter 11 cases, and (iii)

5. Executory Contracts and Unexpired Leases Pursuant to Article VII of the Plan and the Confirmation Order, as of the Effective Date, all executory contracts and unexpired leases listed on the schedule of assumed contracts and leases (the "Assumed Contracts Schedule") filed as part of the Plan Supplement have been assumed by the reorganized Debtors. Assumed contracts and unexpired leases include, without limitation,

6. Releases, Exculpation, and Injunction As of the Effective Date, the release, exculpation, and injunction provisions set forth in Article X of the Plan, as approved and incorporated into the Confirmation Order, are fully effective and binding in accordance with their terms. Without limiting the foregoing, pursuant to Article X.F of the Plan and the Confirmation Order, all entities who have held, currently hold, or

7. Binding Effect Pursuant to section 1141 of title 11 of the United States Code and the Confirmation Order, the Plan and all of its provisions are binding upon and inure to the benefit of the Debtors, the reorganized Debtors, all holders of claims against and interests in the Debtors (whether or not such holders voted to accept or reject the Plan, and whether or not such holders received or are entitled to receive a

8. Where to Obtain Copies Copies of the Plan [Dkt. 47], the Disclosure Statement for the Prepackaged Plan of Reorganization [Dkt. 48], the Confirmation Order [Dkt. 112], and this Notice may be obtained as follows: (a) By contacting the Court-approved claims and noticing agent in these chapter 11 cases: Pinnacle Claims Administration LLC 1010 Dale Street North St. Paul, MN 55117 Telephone: (651) 555-4800 Website: www.

9. Questions Any questions regarding this Notice, the Plan, the Confirmation Order, or the distributions contemplated thereunder should be directed to counsel to the reorganized Debtors: Calderwood & Harkness LLP 30 Rockefeller Plaza New York, NY 10112 Telephone: (212) 555-6000 Facsimile: (212) 555-6001 Colette Whitman, Responsible Partner Email: cwhitman@calderwoodharkness.com Nathaniel Bower, Billing Partner Email:

1. Office of the United States Trustee, Region 9 Howard M. Metzenbaum U.S. Courthouse 201 Superior Avenue Cleveland, OH 44114

2. Ridgeline National Bank, N.A. (as administrative agent under the prepetition credit facilities, the DIP Credit Agreement, and the New Credit Agreement) 200 Public Square Cleveland, OH 44114

3. Hargrove, Mitchell & Saunders LLP (counsel to the Ad Hoc Group of First Lien Lenders) 51 West 52nd Street New York, NY 10019 Attn: Victoria Kline, Esq.

4. Pemberton & Locke LLP (counsel to the Ad Hoc Group of Second Lien Noteholders) 1 Liberty Plaza New York, NY 10006 Attn: Raymond Delvecchio, Esq.

5. Continental Fiduciary Trust Company (Indenture Trustee for the 9.75% Senior Secured Second Lien Notes due 2024) 101 Barclay Street New York, NY 10286

6. Thornfield Capital Partners LP 590 Lexington Avenue, Suite 3200 New York, NY 10022

7. All parties on the master service list maintained by Pinnacle Claims Administration LLC, the Court-approved claims and noticing agent, in accordance with the procedures established by the Court in these chapter 11 cases. ________________________________________ Gabrielle Moss CALDERWOOD & HARKNESS LLP 30 Rockefeller Plaza New York, NY 10112 Telephone: (212) 555-6000 In re: | Case No.: 22-51247 CRESTLINE PACKAGING