Multi-Color Corporation Initiates Implementation of Restructuring Agreement

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Commences Prepackaged Chapter 11 Process As Part of Previously Announced Restructuring Support Agreement to Reset Balance Sheet and Position Company for Long-Term Growth and Investment

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Restructuring Supported by CD&R and More Than Supermajority of Senior Secured Lenders Who Have Agreed to Backstop Nearly $890 Million Investment; Provides More Than $500 Million of New Liquidity Upon Emergence

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All Global Operations and Service to Customers Expected to Continue Without Interruption; All Trade Vendors and Suppliers Expected to be Paid in Full

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Provides for $250 Million of New Money Debtor-in-Possession Financing to Capitalize the Business Throughout the Prepackaged Chapter 11 Process

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ATLANTA — Multi-Color Corporation (“MCC” or the “Company”), a global leader in prime label solutions, today announced that to implement the previously announced restructuring support agreement (the “RSA”), the Company has commenced its prepackaged Chapter 11 filing in the United States Bankruptcy Court for the District of New Jersey (“the Court”).

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MCC announced on January 27 it had entered into the RSA with holders of approximately 72% in amount of MCC’s secured first lien debt and its equity sponsor, CD&R, on the terms of a comprehensive financial restructuring. The transactions contemplated by the RSA will significantly deleverage MCC’s balance sheet, reducing its net debt load from approximately $5.9 billion to approximately $2.0 billion. The Company’s annualized cash interest will also be reduced from approximately $475 million to $140 million in 2026, a reduction of over $330 million, with long-term debt maturities extended to 2033 following consummation of the restructuring transactions. Additionally, the RSA provides for an $889 million new common and preferred equity investment that will support long-term growth and investment. Upon emergence, MCC will have more than $500 million of liquidity.

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BUSINESS AS USUAL

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The RSA also provides for $250 million of new money debtor-in-possession (“DIP”) financing to capitalize the business throughout the prepackaged Chapter 11 process. Subject to the Court’s approval, this additional financing is expected to allow MCC to continue operating in the ordinary course during the restructuring without impacting trade creditors, customers, employees, vendors, or suppliers, and will allow the Company to honor its commitments to strategic partners.

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MCC has filed a series of customary “first day motions” that, subject to Court approval, will allow the Company to continue to operate in the ordinary course of business while it works to deleverage its capital structure. In addition to seeking approvals related to the DIP financing, MCC will seek authority to allow the Company to continue to maintain wages and benefits without interruption, satisfy employee-related claims, pay trade vendors and suppliers in full in the ordinary course, and perform other critical functions and processes necessary for the Company to continue uninterrupted operations.

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For more information on MCC’s restructuring, including access to court documents, please visit www.veritaglobal.net/MCC. Stakeholders with questions can contact Verita, the Company’s claims and noticing agent, at (866) 967-1788 (U.S./Canada toll free) or +1 (310) 751-2688 (International) or submit an inquiry to www.veritaglobal.net/MCC/inquiry. Additional information is also available at MCCForward.com.

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ADVISORS

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Kirkland & Ellis LLP and Cole Schotz P.C. are serving as legal counsel, Evercore is serving as investment banker, AlixPartners is serving as financial advisor, Quinn Emanuel Urquhart & Sullivan, LLP is serving as special counsel to the Special Committee of LABL, Inc.’s Board of Directors, and FGS Global is serving as strategic communications advisor to the Company. Debevoise & Plimpton LLP and Latham & Watkins LLP are serving as legal counsel to CD&R and Moelis & Company LLC is serving as financial advisor. Milbank LLP and PJT Partners serve as legal counsel and financial advisor, respectively, to the ad hoc group of secured creditors.

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ABOUT MCC

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Multi-Color Corporation (MCC) is a global leader in prime label solutions, providing innovative and sustainable solutions to some of the world’s most recognizable brands across a broad range of consumer-oriented end categories. MCC is committed to delivering the world’s best label solutions for their customers to build their brands and add value to the communities in which they operate.

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Forward Looking Statements

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This press release contains certain forward-looking statements with respect to the financial condition, results of operations and business of MCC and its subsidiaries and certain plans and objectives with respect thereto. These forward-looking statements can be identified by the fact that they do not relate only to historical or current facts. Forward-looking statements often use words such as “anticipate”, “target”, “expect”, “enable”, “estimate”, “intend”, “plan”, “goal”, “believe”, “hope”, “aims”, “continue”, “will”, “may”, “should”, “would”, “could”, or other words of similar meaning. These statements are based on assumptions and assessments made by the Company and its perception of historical trends, current conditions, future developments and other factors. By their nature, forward-looking statements involve risk and uncertainty, because they relate to events and depend on circumstances that will occur in the future and the factors described in the context of such forward-looking statements in this document could cause actual results and developments to differ materially from those expressed in or implied by such forward looking statements. Although it is believed that the expectations reflected in such forward-looking statements are reasonable, no assurance can be given that such expectations will prove to have been correct and you are therefore cautioned not to place undue reliance on these forward-looking statements which speak only as at the date of this document. The Company does not assume any obligation to update or correct the information contained in this document (whether as a result of new information, future events or otherwise), except as may be required by applicable law. There are several factors which could cause actual results to differ materially from those expressed or implied in forward-looking statements.