Verso Corporation Provides Update on Discussions with Atlas Holdings

No Action is Required by Stockholders at This Time

Verso Corporation (“Verso” or “the Company”) announced that it has entered into a Confidentiality Agreement (the “Agreement”) with Atlas FRM LLC (d/b/a Atlas Holdings LLC) (“Atlas”). The special committee (the “Special Committee”) of the Board of Directors of Verso previously communicated to Atlas its determination, made in consultation with its financial and legal advisors, that Atlas’ previously disclosed $20.00 per share all-cash offer to acquire Verso was insufficient and that the Special Committee would only consider a potential transaction if Atlas meaningfully increased its offer from $20.00. The two parties agreed to exchange additional information under the terms of the Agreement to facilitate ongoing discussions regarding a potential transaction with Atlas on mutually acceptable terms.

There can be no assurance that any negotiations between Verso and Atlas will take place following the exchange of additional information, and if such negotiations do take place, there can be no assurance that any transaction with Atlas (or any other party) will occur or be consummated. Verso does not intend to comment on or disclose further developments regarding the Special Committee’s evaluation unless and until it deems further disclosure is appropriate or required.

Verso stockholders do not need to take any action at this time.

Rothschild & Co is acting as financial advisor and Kirkland & Ellis LLP is serving as legal counsel to the Special Committee.

About Verso Corporation

Verso Corporation is a leading American owned and operated producer of graphic, specialty and packaging paper and market pulp, with a long-standing reputation for quality and reliability. Verso’s graphic paper products are designed primarily for commercial printing, advertising and marketing applications, including direct mail, catalogs, corporate collateral, books and magazines. Verso’s specialty paper products include release liner papers and label face stock for pressure sensitive, glue-applied and laminate applications. Verso produces packaging paper used in higher-end packaging and printing applications such as greeting cards, book covers, folders, labels and point-of-purchase displays. Verso also makes market pulp used in printing, writing, specialty and packaging papers, facial and toilet tissue, and paper towels. For more information, visit us online at versoco.com.

Contact:

Shawn Hall – Director Communication – shawn.hall@versoco.com – (937) 528-3700

Source: Verso Corporation