Tredegar (TG) 8-K Tredegar Corporation Announces Acquisition of Terphane

Shareholder Conference Call
Terphane Acquisition

October 26, 2011

Exhibit 99.3

Nancy Taylor

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Forward-Looking Statements

These forward-looking statements are not historical facts, but
statements that involve risks and uncertainties. Actual results could
differ materially from those included in or implied by these forward-
looking statements. Factors that may cause actual results to differ
materially from those contemplated by these forward-looking
statements include those discussed in the reports Tredegar files with
or furnishes to the Securities and Exchange Commission (the “SEC”)
from time-to-time, including the risks and important factors set forth in
additional detail in “Risk Factors” in Tredegar’s 2010 Annual Report
on Form 10-K filed with the SEC. Except as required by applicable
law or regulations, Tredegar does not undertake, and specifically
disclaims any obligation, to update or revise any forward-looking
statement.

This presentation contains non-GAAP financial measures.A
reconciliation of those numbers to U.S. GAAP financial measures is
available on the company’s website at www.tredegar.com under
“Investors”.

Our Focus is Manufacturing

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Delivering on Our Acquisition Strategy -
Our Stated Objectives

•Business Development as a means for market and
customer diversification

•Our stated criteria for acquisition:Manufacturing
presence with:

–Defendable competitive advantage

–Growth potential

–Diversified customer base

–Good management

–Favorable market relative to macro trends

–Global position or opportunity to globalize

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Delivering on Our Acquisition Strategy:
Terphane Meets All of Our Criteria

•A leading manufacturer of specialized polyester films
(PET) in Latin American market

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Delivering on Our Acquisition Strategy:
Terphane Provides Growth Opportunity

•Brazil - High Growth and Sound Economy

–Growing middle class, growing population

of new consumers

•Key Growth Area for

Branded Products

–Appetite for branded food

     and consumer goods

–Market demand for packaging

     technology

•U.S. - Niche, High-Value Products

Distribution of Population

> 20MM People Join Middle Class Since 2005

42%

42%

44%

46%

48%

50%

52%

53%

29%

30%

28%

24%

23%

21%

18%

18%

0%

12%

24%

36%

48%

60%

2002

2003

2004

2005

2006

2007

2008

2009

Middle Income

Lower Income

Source: Fundacao Getulio Vargas

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Delivering on Our Acquisition Strategy:
Terphane Provides Strategic Fit

•Highly complementary new customers and end
markets

•Complements our existing expertise in specialty films
and broadens our product and technology portfolio

•Adds PET expertise to our Polypropylene (PP)
capabilities

•Leverages R&D

•Share best practices - technology, process,
marketing

Tredegar Film Products:
New Latin American Footprint

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•Broader Presence
in the Americas:

•Production facilities in Cabo
de Santo Agostinho, Brazil
and Bloomfield, NY

•Headquarters in São Paulo

Terphane

Tredegar Films

Kevin O’Leary

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•Price: $188 million

•Funded with available cash on hand and $125 million in debt
from Tredegar’s existing $300 million revolving credit facility

•Net sales of $160 million for the last twelve months, as of
June 30, 2011

•Expected to be accretive within the next year

•Expected capacity expansion in support of strong growth
projections for the Brazilian market

Financial Overview

Terphane Acquisition Highlights

Financial Overview

Sources		Uses
Cash	$68	Purchase Price	$ 188
Revolving Credit Facility	125	Transaction Costs	5
Total Sources	$ 193	Total Uses	$ 193

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Sources & Uses

$ in millions

•Net Debt to Adjusted EBITDA at closing is less than 1.0 times

•Tredegar retains the financial strength to pursue strategies

that drive long-term shareholder value

Assuming June 30, 2011 cash levels and LTM historical financials plus borrowing for the transaction.

Financial Overview

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1. Historical results

2.Includes Other Operating Segments and Corporate Overhead

Combined Results for Films and Tredegar

Year Ended December 31, 2010
	Terphane1	Films	Combined Films	Combined Tredegar2
Net Sales	$127	$520	$647	$850
Adjusted EBITDA	$28	$105	$133	$118

Last Twelve Months Ended June 30, 2011
	Terphane1	Films	Combined Films	Combined Tredegar2
Net Sales	$160	$531	$691	$915
Adjusted EBITDA	$44	$103	$147	$136

$ in millions

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Purchase Price Summary

Purchase Price	$188MM
EBITDA Multiple (2010 EBITDA1)	6.7x
EBITDA Multiple (LTM EBITDA; as of June 30, 20111)	4.3x

1.Based on Terphane’s historical financials

Financial Overview

Financial Overview

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Global PET Capacity Utilization Projections

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Summary

•Excited about the growth and diversification
opportunity

•Meets our acquisition criteria

•Strong strategic fit with Films

•Expands our footprint

•Maintaining financial stability post-acquisition

Q&A