Glatfelter's Strategic Transformation

38 Reconciliation of Non-GAAP measures Adjusted EBITDA from continuing operations. In thousands Q4 2020 Q3 2021 Q4 2021 Composite Fibers Operating Profit $15,041 $5,812 $4,482 Addback: Depreciation & Amortization 6,523 6,904 6,805 Composite Fibers EBITDA $21,564 $12,716 $11,287 Airlaid Materials Operating Profit $9,073 $14,742 $11,875 Addback: Depreciation & Amortization 5,818 7,763 7,723 Airlaid Materials EBITDA $14,891 $22,505 $19,598 Spunlace Operating Profit $- ($1,338) Addback: Depreciation & Amortization 1,693 Spunlace EBITDA $- $- $355 Note: The sum of individual amounts set forth above may not agree to the column totals due to rounding. G

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