Tredegar 8K/A Certain statements contained in this presentation are forward-looking statements. Pursuant | TG 12 Nov 14

Investor Presentation

November 2014

Exhibit 99.1

Forward-Looking Statements

Certain statements contained in this presentation are forward-looking statements. Pursuant

to federal securities regulations, we have set forth cautionary statements relating to those

forward-looking statements in our Annual Report on Form 10-K for the year ended

December 31, 2013, in our Quarterly Report on Form 10-Q for the quarter ended

September 30, 2014 and other filings with the Securities and Exchange Commission. We

urge readers to review and carefully consider these cautionary statements and the other

disclosures we make in our filings with the SEC.

This presentation contains non-GAAP financial measures that are not determined in

accordance with United States GAAP. These non-GAAP financial measures should not be

considered in isolation, as an alternative to, or more meaningful than measures of financial

performance determined in accordance with United States GAAP. A

reconciliation of those

financial measures to United States GAAP financial measures is included under

“Supplemental Information”

in this presentation and is available on the company’s website at

www.tredegar.com

under “Investors.”

The presentation speaks as of the date thereof. Tredegar is not, and should not be deemed

to be, updating or reaffirming any information contained therein. We do not undertake, and

expressly disclaim any duty, to update any forward-looking statements made in this

presentation to reflect any change in management’s expectations or any change in

conditions, assumptions or circumstances on which such statements are based.

Net

Sales

Segment Net

Sales

Geography

Global footprint

Kerkrade, The Netherlands

Rétság, Hungary

São Paulo, Brazil

Cabo de Santo Agostinho, Brazil

South America -

Films

Guangzhou, China

Shanghai, China

Pune, India

Asia -

Films

Europe -

Films

Bonnell

Newnan, GA

Carthage, TN

Elkhart, IN

Niles, MI

Net sales represent sales less freight. See Note 1 in GAAP to Non-GAAP Reconciliations for more information on this non-GAAP financial measure.

* Leased facilities

Tredegar Corporation

Business Profile

$916

million

Net

Sales

LTM

September

2014

Film

Products

64%

Aluminum

Extrusions

36%

Latin

America

11%

North

America

63%

Europe

14%

Asia

12%

North America

Films

Bloomfield, NY

Lake Zurich, IL

Morrisville,

Pottsville, PA

Richmond, VA

Terre Haute, IN

Tredegar Film Products

Business Profile

($ in millions)

LTM

Net

Sales

LTM

Adjusted

EBITDA

Adjusted

EBITDA

Margin

•

Global and regional consumer care producers

•

Major manufacturers of flat panel display

components

•

Major food packaging producers and converters

•

Personal care products –

feminine hygiene, baby

diapers and adult incontinence products

•

Flexible packaging –

food

•

High-value components of flat panel displays,

including LCD televisions, monitors, notebooks,

smartphones, tablets and digital signage

•

Films for other markets, such as lighting

Net sales represent sales less freight. See Note 1 in GAAP to Non-GAAP Reconciliations for more information on this non-GAAP financial measure.

See Note 2 in GAAP to Non-GAAP Reconciliations for more information on this non-GAAP financial measure.

Personal

Care

56%

Flexible

Packaging

19%

Surface

Protection

15%

Other

10%

($590

million

Net

Sales

LTM

2014)

Customers

Primary End Use Markets

$590

$92

15.6%

Bonnell Aluminum

Business Profile

($ in millions)

LTM

Net

Sales

LTM

Adjusted

EBITDA

Adjusted

EBITDA

Margin

Net sales represent sales less freight. See Note 1 in GAAP to Non-GAAP Reconciliations for more information on this non-GAAP financial measure.

See Note 2 in GAAP to Non-GAAP Reconciliations for more information on this non-GAAP financial measure.

$327

$34

10.5%

Non

residential

B&C 60%

Residential

B&C

Automotive

Consumer

Durables

12%

Machinery

& Equip 7%

Other 8%

(149 million pounds in LTM 2014)

•

Glazing contractors and fabricators

•

Consumer durables, machinery and equipment,

and electrical OEMs

•

Tier I and II suppliers to automotive OEMs

•

Curtain wall, store fronts and entrances, doors,

windows, wall panels and other building

components

•

Consumer durables such as major appliances,

pleasure boats and recreational watercraft,

office and institutional furniture

•

Material handling equipment, linear motion and

conveying systems, modular framing

•

Automobile and light truck structural

components

Customers

Primary End Use Markets

2011

Acquired

Bright View

Technologies

(specialty films)

2010

2014 LTM

Net

Sales¹

$720

$916

Adj

EBITDA²

$90

$103

($ in millions)

Opened Pune,

India Plant

(personal care

films)

Acquired

Terphane (flexible

packaging films)

Closed

Kentland

Plant

(extrusions)

Acquired

AACOA

Divested

Falling

Springs

Significant

Capacity

Expansion

Projects

Launched New

Product Platforms

(surface protection

and elastics)

New

Automotive

Press

New Flexible

Packaging Line

Translating Strategy into Action

Laying the Foundation for Long-term Growth

Increased

quarterly dividend

Increased

quarterly dividend

Increased quarterly

dividend and paid

special dividend

Increased

quarterly dividend

Repurchased

2012

2010

2013

2014

Reflects inclusion of acquisitions subsequent to their acquisition dates: Bright View (2/3/10), Terphane (10/24/11) and AACOA (10/1/12).

Net sales represent sales less freight. See Note 1 in GAAP to Non-GAAP Reconciliations for more information on this non-GAAP financial measure.

See Note 2 in GAAP to Non-GAAP Reconciliations for more information on this non-GAAP financial measure.

Tredegar Corporation

Translating Strategy into Action

Net sales represent sales less freight. See Note 1 in GAAP to Non-GAAP Reconciliations for more information on this non-GAAP financial measure.

$931

(lbs. millions)

($ in millions)

38%

62%

2010

P&G

All Other

$720

28%

72%

2013

70%

30%

2010

Building &

All Other

95 lbs.

60%

40%

2013

144 lbs.

Customer Concentration –

Tredegar Net Sales

Nonresidential

Construction

End-Market Concentration – Aluminum Extrusions Volume

Tredegar Corporation

Translating Strategy into Action

Well-positioned for future growth in attractive markets

Leadership positions in diverse markets

Investments in added capacity and capabilities are in

place

Strength of product innovation is driving additional

value

Opportunity for strong earnings growth and cash flow

generation

Actively returning capital to shareholders

Overview

Film Products

Financials

Tredegar Corporation

Key

Market

Drivers

Creating

Growth

Opportunities

–

Film

Products

Key Market Drivers for Surface Protection Films:

New technologies for high-end TVs, tablets,

phablets and smartphones are driving growth

Expanded use of touch screen technology

Screens getting larger; flat panel display area

projected to grow 6% in 2015

Unit growth in TVs expected as consumers

upgrade (ex. ultra-high definition, 4k

technology)

Increasing quality demands to meet high-

performance

specifications

–

throughput

and

yield

critical to long-term competitiveness

Overview

Film Products

Aluminum

Extrusions

Financials

NPD DisplaySearch, September 12, 2014

Tredegar Corporation

Key

Market

Drivers

Creating

Growth

Opportunities

–

Film

Products

Key Market Drivers for Personal Care Films:

Global growth for personal care products –

incremental

volume

2014

through

2020

83 billion pads (3.9% CAGR)

50 billion diapers (4.5% CAGR)

Over 700 million women aged 12-49 in India

and

China

Overview

Film Products

Aluminum

Extrusions

Financials

Price

Hanna

Consultants,

June

2014

International

Data

Base,

U.S.

Census

Global incremental volume of 17 billion units

2014

through

2019

(7.9%

CAGR)

Developed markets represent approximately

two-thirds of global growth

Aging baby-boomers consuming retail adult

incontinence products:

Tredegar Corporation

Key Market Drivers for Flexible Packaging:

Middle class consumption in emerging markets,

including Brazil

Growing end-user demand for convenience

foods, lighter packaging and branded consumer

products

PET film offers technical advantages such as

temperature resistance, high dimensional

stability and barrier properties

Global growth of PET films projected at over

per

year

through

2018

PCI, “World BOPET Market 2013-2018 Statistical Summary”, May 2014

Film Products

Aluminum

Extrusions

Financials

Key Market Drivers Creating Growth Opportunities – Film Products

Tredegar Corporation

5-6% annual industry growth projected

through 2018

Growth of industrial and specialty markets,

such as consumer durables and machinery &

equipment

annual industry growth through 2018

Strong demand for finished products, including

anodized and painted product and fabricated

components

Overview

Aluminum

Extrusions

Financials

FMI Construction Outlook, 3Q2014

Lawrence Capital Management, “Quarterly Downstream Outlook”, September 2014

Key Market Drivers for Nonresidential

Construction, Industrial & Specialty Markets:

Improving nonresidential building and

construction market

Key Market Drivers Creating Growth Opportunities - Bonnell Aluminum

Tredegar Corporation

Key Market Drivers Creating Growth Opportunities

Key Market Drivers for Automotive Extrusions:

Cars being re-engineered to decrease weight

and

improve

fuel

efficiency

–

growing

aluminum

content in vehicles

Limited qualified supply in place to meet demand

Bonnell extrusions are supporting significant

platforms such as Chrysler Jeep Cherokee

7 out of 10 pick-up trucks projected to be

aluminum-intensive

vehicles

2025

Overview

Film Products

Aluminum

Extrusions

Financials

Ducker International, “NorthCoast Quarterly Aluminum Update”, July 2014

Tredegar Corporation

Committed to Increasing Shareholder Value

Return on invested capital expected to be in the range

of 11-12% by year-end 2016 from current rate of ~ 9%

Dividend increases convey confidence in long-term

financial outlook and cash flow generation

With a balanced view towards capital allocation, we

have the flexibility to invest in our businesses, pay

dividends, and repurchase shares

Well-positioned for future growth in attractive markets

Leadership positions in diverse markets

Investments in added capacity and capabilities are in

place

Strength of product innovation is driving additional

value

Opportunity for strong earnings growth and cash flow

generation

Actively returning capital to shareholders

Tredegar Corporation

Translating Strategy into Action

Overview

Film Products

Financials

Appendix

NYSE: TG

Market Cap: $616MM

HQ: Richmond, VA

Global footprint:

2,700 employees

17+ locations in

North and South

America, Europe

and Asia

Created in 1989: Ethyl Corp. (now NewMarket Corp.) spin-off

Evolved from holding company to premier manufacturing

operating company

Superior manufacturing capabilities in plastic films and

aluminum extrusions industries

Leadership positions in core markets with attractive growth

opportunities and strong long-term relationships with market-

leading customers

Attractive financial profile with financial flexibility and history of

strong cash generation

2010

–

2014:

Refocused

company

drive

profitable

growth

core manufacturing businesses and diversified through growth to

reduce customer and market concentration

Overview

Film Products

Financials

Key Facts

Tredegar Corporation

Company Overview

(as of Oct 31, 2014)

Quarterly dividend:

$0.09 / share

Major Products

Primary End-Markets

Customers

Key Competitors

Film Products

Personal

Care

Materials:

Apertured,

breathable, elastic and embossed films and

laminate materials for personal care markets

Feminine hygiene products, baby diapers and adult incontinence products

Global and regional consumer

care producers

Clopay, Nordenia, Aplix, Pantex

Surface

Protection:

Single

and

multi-layer

surface protection films for high technology

applications during the manufacturing and

transportation process

High-value components of flat panel displays, including liquid crystal display

(“LCD”) televisions, monitors, notebooks, smartphones, tablets, e-readers

and digital signage

Major manufacturers of flat panel

display components

Toray, Sekesui, Hitachi

Flexible

Packaging

Films:

Specialized

polyester (“PET”) films for use in packaging

applications

Perishable and non-perishable food packaging; non-food packaging and

industrial applications

Major food packaging converters

and producers

DuPont Teijin,Toray Plastics America,

Mitsubishi

Polyethylene Overwrap and Polypropylene

Films:

Films

for

use

thin-gauge

packaging

and other applications

Overwrap for bathroom tissue and paper towels, medical devices,

automotive and industrial applications

Global and regional consumer

care producers

Bemis, Berry Plastics

Films

for

Other

Markets:

Films

combining

multiple technology platforms for application-

specific functionality, including optical

management

Lighting, signage, durable goods, automotive and construction applications

Global and regional leaders in

LED lighting

Luminit, Fusion Optix, DuPont

Aluminum Extrusions

Custom aluminum extrusion profiles supplied in

various finishing and value-added service

options including mill (unfinished), anodized,

painted, fabricated, machined, cut-to-length,

assembled, custom packed and labeled for:

•

Nonresidential Construction:

Doors, windows, pre-engineered structures,

wall panels, partitions and interior enclosures, ducts, louvers and vents,

curtain

wall

(commercial/architectural/monumental),

store

fronts

and

entrances, walkway covers

Residential

Construction:

Shower

and

tub

enclosures,

storm

shutters

Automotive

and

Transportation:

Automobile/light

truck

structural

components, recreational vehicles, trim parts, after-market accessories

Consumer Durables:

Commercial refrigerators and freezers, office and

institutional furniture, major appliances, swimming pools, pleasure boats,

recreational motorized watercraft

Machinery and Equipment:

Material handling equipment, linear motion

and conveyor systems, modular framing (commercial and industrial),

hospital and patient care equipment

Electrical:

Commercial

and

industrial

LED

lighting

housings

and

heatsinks,

solar panels, rigid and flexible conduit

Distribution:

Metal

service

centers

Glazing contractors and

fabricators

Tier suppliers to Automotive

OEMs

Consumer durables, machinery

and equipment, electrical OEMs

Metal service centers

Sapa North America, Kaiser

Aluminum, Western Extrusions Corp.,

Keymark Aluminum Corp.

Tredegar At A Glance

Nonresidential and residential construction

Automotive

Consumer durables

Machinery and equipment

Electrical

Distribution

Tredegar Film Products

Annual Historical Financials

Volume (lbs. in millions)

Adjusted EBITDA

($ in millions)

See Note 2 in GAAP to Non-GAAP Reconciliations for more information on this non-GAAP financial measure.

Lower North American baby care

elastic laminate volume in 2014 (as

previously announced)

Lower volume, pricing pressure and

manufacturing inefficiencies in flexible

packaging

Capacity from new flexible packaging

line delayed (previously expected in

2Q); line ramping up in 4Q

Customer inventory corrections and

minor share loss in surface protection

films

219

270

206

185

100

150

200

250

300

2011

2012

2013

3Q13

YTD

3Q14

YTD

$96

$109

$106

$82

$68

$40

$80

$120

2011

2012

2013

3Q13

YTD

3Q14

YTD

Reflects inclusion of Terphane subsequent to acquisition date of 10/24/11 and Bright View subsequent to acquisition date of 2/3/10.

2014 Performance Drivers:

Bonnell Aluminum

Annual Historical Financials

Volume (lbs. in millions)

Adjusted

EBITDA

millions)

Reflects inclusion of AACOA subsequent to acquisition date of 10/1/12.

See Note 2 in GAAP to Non-GAAP Reconciliations for more information on this non-GAAP financial measure.

108

115

144

109

114

-40

110

160

2011

2012

2013

3Q13

YTD

3Q14

YTD

$12

$17

$28

$19

$26

$10

$20

$30

$40

2011

2012

2013

3Q13

YTD

3Q14

YTD

2014 Performance Drivers:

Operating efficiencies and cost

containment helping margins

Nonresidential B&C volume up 4%

year-to-date, consistent with

industry growth

Volume up with growth in

nonresidential B&C, automotive

and machinery & equipment

finished and fabricated products

Favorable mix – strength in

Tredegar Corporation

Annual Historical Financials

Net

Sales

millions)

Earnings

Per

from

Ongoing

Ops

Net sales represent sales less freight. See Note 1 in GAAP to Non-GAAP Reconciliations for more information on this non-GAAP financial measure.

See Note 3 in GAAP to Non-GAAP Reconciliations for more information on this non-GAAP financial measure.

Diluted

earnings

per

from

ongoing

operations.

See

Note

GAAP

Non-GAAP

Reconciliations

for

information

this

non-GAAP

financial

measure.

Reflects inclusion of acquisitions subsequent to their acquisition dates: Bright View (2/3/10); Terphane (10/24/11) and AACOA (10/1/12).

2014 Performance Drivers:

$776

$857

$931

$706

$692

300

600

900

1200

2011

2012

2013

3Q 13

YTD

3Q 14

YTD

$.87

$1.20

$1.15

$0.88

$0.90

$0.00

$0.50

$1.00

$1.50

2011

2012

2013

3Q 13

YTD

3Q 14

YTD

Volume growth and favorable

product mix in Bonnell Aluminum

Near-term challenges in Film

Products

Non-cash pension expense

$5.1MM favorable to prior year

Effective tax rate for net income

from

ongoing

operations

34%

vs. 31% for the first nine months of

2013; increase primarily resulting

from geographic income mix and

R&D credit

Tredegar Corporation

Other 2014 Year-to-Date Financial Highlights

Cash Flows from Operations

Capital Expenditures

Dividends Paid

Net Debt

Net Debt to Total Capitalization

Total Debt to Adjusted EBITDA

(LTM as of 9/30/2014)

ROIC

(LTM as of 9/30/2014)

$37.2

$32.6

$8.1

$86.9

17.3%

1.43x

8.9%

$ in millions, except percentages

As of 9/30/2014. See Note 4 in GAAP to Non-GAAP Reconciliations for more information and a reconciliation of this non-GAAP financial measure.

2 As of 9/30/2014 . See Note 5 in GAAP to Non-GAAP Reconciliations for more information and a reconciliation of this non-GAAP financial measure.

3 As defined under Tredegar’s credit agreement. See Tredegar’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2014

(pages 32-33) for more information on this non-GAAP financial measure.

4 See Note 7 in GAAP to Non-GAAP Reconciliations for more information and a reconciliation of this non-GAAP financial measure.

Tredegar Corporation

Strong Cash Generation Profile

Free cash flow represents cash flows from operations less capital expenditures.

($ millions)

2010

2011

2012

2013

Cash Flows from Operations

$46

$72

$83

$77

Capital Expenditures

Free Cash Flow

(3)

Dividends

Acquisitions

181

Share Repurchases

Tredegar Corporation

Cash Dividend History

Includes special dividend of $.75 per share.

Estimate based upon current dividend payouts, reflecting annualized increase of $.02 per share approved in May 2014.

•

Quarterly dividends have more than doubled since 2010.

•

A special dividend of $.75 per share was paid in 2012.

$.16

$.18

$.21

$.28

$.34

$.75

$0.00

$0.20

$0.40

$0.60

$0.80

$1.00

$1.20

1996

-2010

2011

2012

2013

2014E

$.96

Tredegar Corporation

Capital Expenditures History

2014

capital

expenditures

are

projected

include

approximately

$20

million

for routine capital expenditures ($15MM for Film Products and $5MM for

Bonnell Aluminum)

Net sales represent sales less freight. See Note 1 in GAAP to Non-GAAP Reconciliations for more information on this non-GAAP financial measure.

Represents management’s current expectation, which is subject to change.

($ millions)

Capital Expenditures

2010

2011

2012

2013

2014

Projection

Film Products

15.8

13.1

30.5

64.9

40.0

Bonnell Aluminum

4.3

2.7

2.3

14.7

8.0

Corporate

0.3

0.1

0.5

0.1

Total

20.4

15.9

33.3

79.7

48.0

% Net Sales

2.8%

2.0%

3.9%

8.6%

GAAP to Non-GAAP Reconciliations

GAAP to Non-GAAP Reconciliations

Tredegar acquired Bright View Technologies Corporation on February 3, 2010, and its operations were incorporated into Film Products effective January 1, 2012.

Prior year balances have been revised to conform with the current year presentation.

Film Products results include the acquisition of Terphane Holdings LLC on October 24, 2011. Bonnell Aluminum results include the acquisition of AACOA, Inc. on

October 1, 2012.

Notes:

Net sales represent sales less freight. Net sales is a financial measure that is not calculated in accordance with U.S. generally accepted accounting principles

(U.S. GAAP), and it is not intended to represent sales as defined by U.S. GAAP. Net sales is a key measure used by the chief operating decision maker of

each segment for purposes of assessing performance. A reconciliation of net sales to sales is shown below:

YTD

(In millions)

Q3 2013

Q4 2013

Q1 2014

Q2 2014

Q3 2014

Q3 2013

Q3 2014

Film Products

$157.2

$151.4

$149.2

$146.0

$143.1

$469.8

438.3

Aluminum Extrusions

78.5

73.2

79.3

84.6

89.6

236.3

253.4

Total net sales

235.7

224.6

228.5

230.6

232.7

706.1

691.7

Add back freight

7.5

6.5

6.7

6.4

7.7

22.1

20.9

Sales as shown in consolidated statements of income

$243.2

$231.1

$235.2

$237.0

$240.4

$728.2

$712.6

LTM

(In millions)

2010

2011

2012

2013

Sept 2014

Film Products

$520.8

$535.5

$611.9

$621.2

$589.7

Aluminum Extrusions

199.6

240.4

245.5

309.5

326.6

Total net sales

720.4

775.9

857.4

930.7

916.3

Add back freight

17.8

18.5

24.8

28.6

27.4

Sales as shown in consolidated statements of income

$738.2

$794.4

$882.2

$959.3

$943.7

Adjusted EBITDA represents net income (loss) from continuing operations before interest, taxes, depreciation, amortization, unusual items, goodwill impairments,

gains or losses associated with plant shutdowns, asset impairments and restructurings, gains or losses from the sale of assets, investment write-downs or

write-ups, charges related to stock option awards accounted for under the fair value-based method and other items. Adjusted EBITDA is a non-GAAP financial

measure that is not intended to represent net income (loss) or cash flow from operations as defined by U.S. GAAP and should not be considered as either an

alternative to net income (loss) (as an indicator of operating performance) or to cash flow (as a measure of liquidity). Tredegar uses Adjusted EBITDA as a

measure of unlevered (debt-free) operating cash flow.

We also use it when comparing relative enterprise values of manufacturing companies and when measuring debt capacity. When comparing the valuations of

a peer group of manufacturing companies, we express enterprise value as a multiple of Adjusted EBITDA. We believe Adjusted EBITDA is preferable to

operating profit and other GAAP measures when applying a comparable multiple approach to enterprise valuation because it excludes the items noted above,

measures of which may vary among peer companies.

A reconciliation of ongoing operating profit (loss) from continuing operations to Adjusted EBITDA is shown on the next page. Amounts relating to corporate

overhead for the prior years have been reclassified to conform with the current year’s presentation. Adjusted EBITDA for Aluminum Extrusions in 2012 includes

an adjustment of $2.4 million for accelerated depreciation associated with the shutdown of its manufacturing facility in Kentland, IN. Accelerated depreciation

associated with the shutdown of the Kentland manufacturing facility was excluded from operating profit from ongoing operations. This amount has therefore

been subtracted from the amount of depreciation expense added back in calculating Adjusted EBITDA.

GAAP to Non-GAAP Reconciliations

Notes (continued):

Film

Aluminum

2013

Products

Extrusions

Total

Operating profit (loss) from ongoing operations

$ 71.0

$ 18.3

89.3

Add back depreciation & amortization

35.3

9.2

44.5

Adjusted EBITDA before corporate overhead (a)

106.3

27.5

133.8

Corporate overhead

(31.3)

Adjusted EBITDA (c)

$ 106.3

$ 27.5

102.5

Net sales (b)

$ 621.2

$ 309.5

930.7

Adjusted EBITDA margin [(a) / (b )]

17.1%

8.9%

14.4%

Capital expenditures (d)

$ 64.9

$ 14.7

79.7

Adjusted

EBITDA

less

capital

expenditures

[(c)

(d)]

41.4

12.8

22.9

2012

Operating profit (loss) from ongoing operations

$ 70.0

$ 9.0

79.0

Add back depreciation & amortization

39.2

10.0

49.2

Less accelerated depreciation associated with plant shutdown

(2.4)

Adjusted EBITDA before corporate overhead (a)

109.2

16.6

125.8

Corporate overhead

(22.3)

Adjusted EBITDA (c)

$ 109.2

$ 16.6

103.5

Net sales (b)

611.9

$ 245.5

857.4

Adjusted EBITDA margin [(a) / (b )]

17.8%

6.8%

14.7%

Capital expenditures (d)

$ 30.5

$ 2.3

33.3

Adjusted

EBITDA

less

capital

expenditures

[(c)

(d)]

78.7

14.3

70.2

2011

Operating profit (loss) from ongoing operations

$ 59.5

$ 3.5

63.0

Add back depreciation & amortization

36.3

8.3

44.6

Adjusted EBITDA before corporate overhead (a)

95.8

11.8

107.6

Corporate overhead

(15.5)

Adjusted EBITDA (c)

$ 95.8

$ 11.8

92.1

Net sales (b)

$ 535.5

$ 240.4

775.9

Adjusted EBITDA margin [(a) / (b )]

17.9%

4.9%

13.9%

Capital expenditures (d)

$ 13.1

$ 2.7

15.9

Adjusted

EBITDA

less

capital

expenditures

[(c)

(d)]

82.7

9.1

76.2

GAAP to Non-GAAP Reconciliations

Notes (continued):

Film

Aluminum

Products

Extrusions

Total

2010

Operating profit (loss) from ongoing operations

$ 66.7

$ (4.2)

$ 62.5

Add back depreciation & amortization

34.4

9.1

43.5

Adjusted EBITDA before corporate overhead (a)

101.1

4.9

106.0

Corporate overhead

(16.2)

Adjusted EBITDA (c)

$ 101.1

$ 4.9

$ 89.8

Net sales (b)

$ 520.8

$ 199.6

$ 720.4

Adjusted EBITDA margin [(a) / (b

)]

19.4%

2.5%

14.7%

Capital expenditures (d)

$ 15.8

$ 4.3

$ 20.4

Adjusted

EBITDA

less

capital

expenditures

[(c)

(d)]

85.3

0.6

69.4

Nine Months Ended September 30, 2014

Operating profit (loss) from ongoing operations

$ 44.9

$ 18.6

$ 63.5

Add back depreciation & amortization

23.2

7.5

30.7

Adjusted EBITDA before corporate overhead (a)

68.1

26.1

94.2

Corporate overhead

(16.5)

Adjusted EBITDA (c)

$ 68.1

$ 26.1

$ 77.7

Net sales (b)

$ 438.3

$ 253.4

$ 691.7

Adjusted EBITDA margin [(a) / (b

)]

15.5%

10.3%

13.6%

Capital expenditures (d)

$ 27.4

$ 5.2

$ 32.6

Adjusted

EBITDA

less

capital

expenditures

[(c)

(d)]

40.7

20.9

45.1

Nine Months Ended September 30, 2013

Operating profit (loss) from ongoing operations

$ 55.4

$ 12.3

$ 67.7

Add back depreciation & amortization

26.8

6.9

33.7

Adjusted EBITDA before corporate overhead (a)

82.2

19.2

101.4

Corporate overhead

(23.7)

Adjusted EBITDA (c)

$ 82.2

$ 19.2

$ 77.7

Net sales (b)

$ 469.8

$ 236.3

$ 706.1

Adjusted EBITDA margin [(a) / (b

)]

17.5%

8.1%

14.4%

Capital expenditures (d)

$ 47.2

$ 7.5

$ 54.7

Adjusted

EBITDA

less

capital

expenditures

[(c)

(d)]

35.0

11.7

23.0

Trailing Twelve Months Ended September 30, 2014

Operating profit (loss) from ongoing operations

$ 60.5

$ 24.5

$ 85.0

Add back depreciation & amortization

31.6

9.9

41.5

Adjusted EBITDA before corporate overhead (a)

92.1

34.4

126.5

Corporate overhead

(24.0)

Adjusted EBITDA (c)

$ 92.1

$ 34.4

$ 102.5

Net sales (b)

$ 589.7

$ 326.6

$ 916.3

Adjusted EBITDA margin [(a) / (b

)]

15.6%

10.5%

13.8%

Capital expenditures (d)

$ 45.1

$ 12.4

$ 57.5

Adjusted

EBITDA

less

capital

expenditures

[(c)

(d)]

47.0

22.0

45.0

GAAP to Non-GAAP Reconciliations

Notes (continued):

(in millions, except per share data)

YTD

Q3 2013

Q4 2013

Q1 2014

Q2 2014

Q3 2014

Q3 2013

Q3 2014

Net income (loss) from continuing operations as reported under U.S. GAAP

$ 7.4

$ 9.4

$ 8.5

$ 3.8

$ 10.7

26.5

$ 23.0

After tax effects of:

(Gains) losses associated with plant shutdowns, asset impairments and restructurings

0.1

0.4

0.8

0.6

0.3

0.5

1.7

(Gains) losses from sale of assets and other

2.3

(1.0)

0.2

6.7

(2.2)

1.5

4.8

Net income from ongoing operations

9.8

8.8

9.5

11.1

8.8

28.5

29.5

Earnings (loss) from continuing operations per share under GAAP (diluted)

$ 0.23

$ 0.29

$ 0.26

$ 0.11

$ 0.33

0.81

$ 0.70

After tax effects of:

(Gains) losses associated with plant shutdowns, asset impairments and restructurings

0.01

0.02

0.01

0.02

0.05

(Gains) losses from sale of assets and other

0.07

(0.03)

0.01

0.21

(0.07)

0.05

0.15

Earnings per share from ongoing operations (diluted)

$ 0.30

$ 0.27

$ 0.29

$ 0.34

$ 0.27

0.88

$ 0.90

(in millions, except per share data)

LTM

2010

2011

2012

2013

Sept 2014

Net income (loss) from continuing operations as reported under U.S. GAAP

$ 26.8

$ 28.5

$ 43.2

$ 35.9

$ 32.4

After tax effects of:

(Gains) losses associated with plant shutdowns, asset impairments and restructurings

0.9

1.2

3.2

0.9

2.1

(Gains) losses from sale of assets and other

1.0

(1.8)

(7.9)

0.5

3.8

Goodwill impairment relating to aluminum extrusions business

Net income from ongoing operations

28.7

27.9

38.5

37.3

38.3

Earnings (loss) from continuing operations per share under GAAP (diluted)

$ 0.82

$ 0.89

$ 1.34

$ 1.10

$ 0.99

After tax effects of:

(Gains) losses associated with plant shutdowns, asset impairments and restructurings

0.03

0.04

0.10

0.03

0.06

(Gains) losses from sale of assets and other

0.03

(0.06)

(0.24)

0.02

0.12

Goodwill impairment relating to aluminum extrusions business

Earnings per share from ongoing operations (diluted)

$ 0.88

$ 0.87

$ 1.20

$ 1.15

$ 1.17

The after-tax effects of losses associated with plant shutdowns, asset impairments and restructurings and gains or losses from the sale of assets and other items (which includes

unrealized gains and losses for an investment accounted for under the fair value method) have been presented separately and removed from income (loss) and earnings (loss) per share

from continuing operations as reported under U.S. GAAP to determine Tredegar’s presentation of net income and earnings per share from ongoing operations. Net income and earnings

per share from ongoing operations are key financial and analytical measures used by Tredegar to gauge the operating performance of its ongoing operations. They are not intended to

represent the stand-alone results for Tredegar’s ongoing operations under GAAP and should not be considered as an alternative to net income or earnings per share from continuing

operations as defined by U.S. GAAP. They exclude items that we believe do not relate to Tredegar’s ongoing operations. A reconciliation is shown below:

GAAP to Non-GAAP Reconciliations

Notes (continued):

Net

debt

non-GAAP

financial

measure

that

not

intended

represent

debt

defined

GAAP,

but is utilized by management in evaluating financial leverage and equity valuation. A calculation of

net debt is showm below:

(In millions)

September 30,

2014

Debt

138.8

Less: Cash and cash equivalents

(51.9)

Net debt

86.8

Net debt-to-capitalization is a non-GAAP financial measure that is used by management in evaluating

financial

leverage

and

equity

valuation.

The

calculation

Net

Debt

divided

Total

Capitalization.

A reconciliation of net debt-to-capitalization is shown below:

(In millions except percentages)

September 30,

2014

Net debt (see note 4) (a)

86.8

Shareholders' equity (b)

415.0

Net debt-to-capitalization [(a) / (a+b)]

17.3%

GAAP to Non-GAAP Reconciliations

Notes (continued):

Operating profit from ongoing operations is used by management to assess profitability. A reconciliation of operating profit from ongoing operations to net income is shown below:

Operating profit (loss):

YTD

LTM

(in thousands)

2010

2011

2012

2013

Q3 2013

Q3 2014

Sept 2014

Film Products:

Ongoing operations

66,718

59,493

69,950

70,966

55,351

44,891

60,506

Plant shutdowns, asset impairments and restructurings, gain

from sale of assets and other items

(758)

(6,807)

(109)

(671)

(364)

(12,578)

(12,885)

Aluminum Extrusions:

Ongoing operations

(4,154)

3,457

9,037

18,291

12,351

18,563

24,503

Plant shutdowns, asset impairments and restructurings, gain

from sale of assets and other items

493

(5,427)

(2,748)

(958)

(300)

(2,090)

Total

62,299

56,201

73,451

85,838

66,380

50,576

70,034

Interest income

709

1,023

418

594

307

419

706

Interest expense

1,136

1,926

3,590

2,870

2,132

1,751

2,489

Gain on sale of investment property

1,208

Unrealized loss on investment property

(1,018)

Gain (loss) from an investment accounted for under the fair value method

(2,200)

1,600

16,100

3,400

100

2,900

6,200

Stock option-based compensation costs

2,064

1,940

1,432

1,155

859

944

1,240

Corporate expenses,net

17,118

16,169

23,443

31,857

24,058

17,291

25,090

Income (loss) from continuing operations before income taxes

40,490

38,789

61,504

52,932

38,720

35,117

49,329

Income taxes

13,649

10,244

18,319

16,995

12,185

12,141

16,951

Income (loss) from continuing operations

26,841

28,545

43,185

35,937

26,535

22,976

32,378

Income (loss) from discontinued operations, net of tax

186

(3,690)

(14,934)

(13,990)

850

Net income (loss)

27,027

24,855

28,251

21,947

12,545

23,826

33,228

GAAP to Non-GAAP Reconciliations

Notes (continued):

Return on invested capital (ROIC) is defined by Tredegar as Adjusted Net Income from Ongoing Operations divided by average Invested Capital

where the individual components are defined as follows:

Adjusted Net Income from Ongoing Operations equals:

Income from Ongoing Operations (as previously defined and reconciled in Note 2)

Plus

Pension expense excluding service costs, net of taxes

Plus

Interest expense, net of tax

Average Invested Capital is the average of the beginning and ending Invested Capital balance where Invested Capital is defined as follows:

Shareholders equity

Plus

Long-term debt

Plus

Short-term portion of long-term debt

Plus

Accrued pension liability

Minus

Cash

Minus

Non-operating investments (investment in kaleo, Inc.; Harbinger Capital Special Situations Fund, L.P. and investment real estate property)

ROIC for the LTM ended September 30, 2014 is calculated as follows:

($ millions, except percentages)

Income from Ongoing Operations

$ 38.3 *

Pension expense

8.6

Less: Service Costs

(1.8)

Taxes (34%)

(2.3)

Pension expense excluding service costs, net of taxes

4.5

Interest expense

2.5

Taxes (34%)

(0.9)

Interest Expense, net of tax

1.6

Adjusted Net Income from Ongoing Operations (a)

$ 44.4

2014

2013

Average

Shareholders equity

$ 415.0

$ 376.7

$ 395.9

Long-term debt

138.8

134.0

136.4

Short-term portion of long-term debt

Accrued pension liability

36.9

77.1

57.0

Less: Cash

(51.9)

(42.6)

(47.3)

Less: Non-operating investments

Investment in kaleo, Inc.

(40.0)

(33.8)

(36.9)

Investment in Harbinger Capital Special Situations Fund, L.P.

(1.8)

(3.2)

(2.5)

Investment in real estate property

(2.6)

(5.9)

(4.3)

Invested Capital (b)

$ 498.3

ROIC

(a) / (b)

8.9%

See Note 2 for additional detail and a reconciliation of this non-GAAP financial measure.

LTM

September 30, 2014

September 30,

GAAP to Non-GAAP Reconciliations

Notes (continued):

The pre-tax and after-tax effects of losses associated with plant shutdowns, asset impairments and restructurings and gains or losses from the sale of

assets and other items (which includes unrealized gains and losses for an investment accounted for under the fair value method) have been presented

separately and removed from income (loss) from continuing operations as reported under U.S. GAAP to determine Tredegar’s presentation of net income

from ongoing operations. Net income from ongoing operations is a key financial and analytical measure used by Tredegar to gauge the operating

performance of its ongoing operations. It is not intended to represent the stand-alone results for Tredegar’s ongoing operations under U.S. GAAP and

should not be considered as an alternative to net income from continuing operations as defined by U.S. GAAP. It excludes items that we believe do not

relate to Tredegar’s ongoing operations. A reconciliation of the pre-tax and post-tax balances attributed to net income from ongoing operations for the

nine months ended June 30, 2014 and 2013 are shown below in order to show its impact upon the effective tax rate:

(in millions)

Pre-Tax

Taxes

After-Tax

Effective Tax Rate

Nine Months Ended September 30, 2014

(a)

(b)

(b)/(a)

Net income (loss) from continuing operations as reported under U.S. GAAP

$ 35.1

$ 12.1

$ 23.0

35%

(Gains) losses associated with plant shutdowns, asset impairments and restructurings

2.7

1.0

1.7

(Gains) losses from sale of assets and other

6.9

2.1

4.8

Net income from ongoing operations

$ 44.7

$ 15.2

$ 29.5

34%

Nine Months Ended September 30, 2013

Net income (loss) from continuing operations as reported under U.S. GAAP

$ 38.7

$ 12.2

$ 26.5

32%

(Gains) losses associated with plant shutdowns, asset impairments and restructurings

0.8

0.3

0.5

(Gains) losses from sale of assets and other

1.6

0.1

1.5

Net income from ongoing operations

$ 41.1

$ 12.6

$ 28.5

31%

Investor Presentation

November 2014

Tredegar (TG) 8-K/ACertain statements contained in this presentation are forward-looking statements. Pursuant