Magnera Corp 10-K for FY2025

Magnera Corp (MAGN)

10-K 2025-11-25 For: 2025-09-27

Added on April 09, 2026

About this 10-K

Magnera Corp filed this 10-K on November 25, 2025, covering the fiscal year ended September 27, 2025 (FY2025).

Headline figures

Fiscal year ended September 27, 2025, as reported in this filing, compared with the same period a year earlier where the filing states it.

Revenue: $3.2B; up 46.5% from $2.19B a year earlier
Net loss: $159M; compared with a net loss of $154M a year earlier
Diluted EPS: -$4.47; compared with -$4.84 a year earlier

Search and read filings like this one from Claude or ChatGPT with the SEC filings MCP server →


Commission file number	Exact name of registrant as specified in its charter	IRS Employer Identification No.	State or other jurisdiction of incorporation or organization
1-03560	Magnera Corporation	23-0628360	Pennsylvania


Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Stock, $0.01 par value per share	MAGN	New York Stock Exchange

		Page
	PART I
Item 1.	BUSINESS	3
Item 1A.	RISK FACTORS	4
Item 1B.	UNRESOLVED STAFF COMMENTS	7
Item 1C.	CYBERSECURITY	7
Item 2.	PROPERTIES	8
Item 3.	LEGAL PROCEEDINGS	8
Item 4.	MINE SAFETY DISCLOSURES	8

	PART II

Item 5.	MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER MATTERS, AND ISSUER PURCHASES OF EQUITY SECURITIES	8
Item 6 .	RESERVED	8
Item 7.	MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS	8
Item 7A.	QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK	11
Item 8.	FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA	12
	Report of Independent Registered Public Accounting Firm (PCAOB ID 42)	12
	Consolidated and Combined Statements of Operations and Comprehensive Income (Loss)	14
	Consolidated and Combined Balance Sheets	15
	Consolidated and Combined Statements of Cash Flows	16
	Consolidated and Combined Statements of Changes in Equity	17
	Notes to Consolidated and Combined Financial Statements	18
Item 9.	CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE	31
Item 9A.	CONTROLS AND PROCEDURES	31
Item 9B.	OTHER INFORMATION	31
Item 9C.	DISCLOSURE REGARDING FOREIGN JURISDICTIONS THAT PREVENT INSPECTIONS	31

	PART III

Item 10.	DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE	32
Item 11.	EXECUTIVE COMPENSATION	32
Item 12.	SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS	32
Item 13.	CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS AND DIRECTOR INDEPENDENCE	32
Item 14.	PRINCIPAL ACCOUNTANT FEES AND SERVICES	32

	PART IV

Item 15.	EXHIBITS AND FINANCIAL STATEMENT SCHEDULES	32
Item 16.	FORM 10-K SUMMARY	32


Geographic Region	Total Facilities	Leased Facilities
Americas	22	2
Rest of world	23	4


*Consolidated Overview*	Fiscal Year
	2025		2024		$ Change		% Change
Net sales	$	3,204	$	2,187	$	1,017		47	%
Operating income (loss)	$	5	$	(141)	$	146		104	%


Other expense (income), net	Fiscal Year
	2025		2024		$ Change		% Change
Other expense (income), net	$	30	$	(9)	$	39		433	%


Interest expense, net	Fiscal Year
	2025		2024		$ Change		% Change
Interest expense, net	$	141	$	3	$	138		4,600	%


Comprehensive income (loss)	Fiscal Year
	2025		2024		$ Change		% Change
Comprehensive income (loss)	$	(186)	$	(151)	$	(35)		(23)	%

		September 27, 2025
Cash flow from operating activities	$	103
Pre-Transaction free cash flow from operating activities(1)		90
Additions to property, plant and equipment, net		(67	)
Free cash flow	$	126


	Fair Value June 29, 2025		Carrying Value June 29, 2025		Cushion June 29, 2025
Americas	$	2,130	$	1,996	$	134
Rest of World		890		825		65


		*Goodwill – impairment assessment*
Description of the Matter		At September 27, 2025, the Company's goodwill was $663 million. As discussed in Note 1 to the Consolidated and Combined Financial Statements, goodwill is tested for impairment at the reporting unit level at least annually or whenever events or changes in circumstances indicate their carrying value may not be recoverable. The Company performed its annual quantitative goodwill impairment test for each of the reporting units as of the first day of its fiscal fourth quarter, which did not result in an impairment charge. Auditing management’s annual goodwill impairment test was complex and judgmental due to the significant estimation uncertainty in determining the fair values of the reporting units. In particular, the fair value estimates were sensitive to significant assumptions, which included the weighted average cost of capital, revenue growth rates and EBITDA margins. These significant assumptions are forward looking and could be affected by expectations about future market and economic conditions.
How We Addressed the Matter in Our Audit		We obtained an understanding, evaluated the design and tested the operating effectiveness of controls over the Company’s goodwill impairment review process, including controls over management’s review of the valuation models and the significant data inputs and assumptions underlying the fair value determination as described above. To test the fair values of the Company’s reporting units, our audit procedures included, among others, involvement from our valuation specialists to assist in assessing the valuation methodologies utilized by the Company and testing the significant assumptions and underlying data used by the Company in its analysis. We compared the significant assumptions used by management to historical results and current industry and economic trends. We tested management’s reconciliation of the fair value of the reporting units to the market capitalization of the Company and performed sensitivity analyses of significant assumptions to evaluate the changes in the fair value of the reporting units that would result from changes in the assumptions.


	Fiscal years ended
		September 27,			September 28,			September 30,
		2025			2024			2023
Net sales	$	3,204		$	2,187		$	2,275
Costs and expenses:
Cost of goods sold		2,867			1,950			1,995
Selling, general and administrative		190			107			110
Amortization of intangibles		50			48			51
Goodwill and other impairment		—			172			—
Restructuring and other activities		89			30			24
Corporate expense allocation		3			21			26
Operating income (loss)		5			(141	)		69
Other expense (income), net		30			(9	)		(3	)
Interest expense, net		141			3			—
Income (loss) before income taxes		(166	)		(135	)		72
Income tax expense (benefit)		(7	)		19			34
Net income (loss)	$	(159	)	$	(154	)	$	38

Net income (loss) per share: Basic and diluted		(4.47	)		(4.84	)		1.19


									Accumulated Other
									Comprehensive
		Common		Berry Net			Additional		Income (Loss) -			Retained			Total
		Stock		Investment			Paid-in Capital		Currency Translation			Loss			Equity
Balance at October 2, 2022	$	—	$	2,724		$	—	$	(237	)	$	—		$	2,487
Net income		—		38			—		—			—			38
Other comprehensive income (loss)		—		—			—		66			—			66
Transfers to Berry, net		—		(201	)		—		—			—			(201	)
Balance at September 30, 2023	$	—	$	2,561		$	—	$	(171	)	$	—		$	2,390
Net loss		—		(154	)		—		—			—			(154	)
Other comprehensive income (loss)		—		—			—		3			—			3
Transfers to Berry, net		—		(100	)		—		—			—			(100	)
Balance at September 28, 2024	$	—	$	2,307		$	—	$	(168	)	$	—		$	2,139
Net loss		—		—			—		—			(159	)		(159	)
Other comprehensive income (loss)		—		—			—		(27	)		—			(27	)
Transfers to Berry, net		—		(1,111	)		—		—			—			(1,111	)
October net investment		—		129			—		—			—			129
Distribution of Berry’s net investment		1		(1,325	)		1,324		—			—			—
Acquisition of GLT		—		—			74		—			—			74
Share-based compensation		—		—			19		—			—			19
Balance at September 27, 2025	$	1	$	—		$	1,417	$	(195	)	$	(159	)	$	1,064


Inventories:		2025		2024
Finished goods	$	303	$	156
Raw materials		171		103
	$	474	$	259


Property, plant and equipment:		2025			2024
Land, buildings and improvements	$	653		$	376
Equipment and construction in progress		1,986			1,543
		2,639			1,919
Less accumulated depreciation		(1,163	)		(970	)
	$	1,476		$	949


		September 27,			September 28,
		2025			2024
Assets
Current assets:
Cash and cash equivalents	$	305		$	230
Accounts receivable		522			359
Inventories		474			259
Prepaid expenses and other current assets		122			38
Total current assets		1,423			886
Noncurrent assets:
Property, plant and equipment		1,476			949
Goodwill and intangible assets		890			850
Right-of-use assets		62			49
Other assets		138			73
Total assets		3,989			2,807

Liabilities and equity
Current liabilities:
Accounts payable	$	356		$	295
Accrued employee costs		90			47
Other current liabilities		155			115
Total current liabilities		601			457
Noncurrent liabilities:
Long-term debt		1,952			—
Deferred income taxes		46			78
Operating lease liabilities		45			39
Other long-term liabilities		281			94
Total liabilities		2,925			668

Equity:
Common stock (35.6 million shares issued)		1			—
Berry net investment		—			2,307
Additional paid-in capital		1,417			—
Retained loss		(159	)		—
Accumulated other comprehensive loss		(195	)		(168	)
Total equity		1,064			2,139
Total liabilities and equity	$	3,989		$	2,807



		Operating Leases
2026	$	18
2027		14
2028		12
2029		9
2030		6
Thereafter		12
Total lease payments		71
Less: Interest		(8	)
Present value of lease liabilities	$	63


Fair value of GLT common stock concurrent with closing	$	74

Identifiable assets acquired and liabilities assumed
Cash		37
Working capital(a)		247
Property, plant and equipment		589
Identifiable intangible assets		51
Other assets		69
Other long-term liabilities		(86	)
Debt		(869	)
Goodwill		36
Total consideration	$	74


Facility	Maturity Date		2025			2024
Revolving credit facility	November 2029	$	—		$	—
Term loan	November 2031		731			—
7.25% First Priority Senior Secured Notes	November 2031		800			—
4.75% First Priority Senior Secured Notes	October 2029		500			—
Debt discounts, deferred fees and other			(79	)		—
Total long-term debt		$	1,952		$	—


		Customer				Other			Accumulated
		Relationships		Trademarks		Intangibles			Amortization			Total
Balance as of fiscal 2023	$	610	$	30	$	84		$	(449	)	$	275
Amortization expense		—		—		—			(48	)		(48	)
Impairment		—		—		(1	)		—			(1	)
Balance as of fiscal 2024	$	610	$	30	$	83		$	(497	)	$	226
Foreign currency translation adjustment		3		—		—			(3	)		—
Amortization expense		—		—		—			(50	)		(50	)
Acquisition		49		2		—			—			51
Balance as of fiscal 2025	$	662	$	32	$	83		$	(550	)	$	227


Derivative Instruments	Hedge Designation	Balance Sheet Location		2025			2024
Cross-currency swaps	Designated	Other long-term liabilities	$	(99	)	$	—


Derivative Instruments	Statements of Operations Location		2025		2024		2023
Cross-currency swaps	Interest expense, net	$	9	$	—	$	—


	2025
		Level 1		Level 2		Level 3		Total		Impairment
Indefinite-lived trademarks	$	—	$	—	$	26	$	26	$	—
Goodwill		—		—		663		663		—
Definite lived intangible assets		—		—		201		201		—
Property, plant, and equipment		—		—		1,476		1,476		—
Total	$	—	$	—	$	2,366	$	2,366	$	—


Leases	Classification		2025		2024
Operating leases:
Operating lease right-of-use assets	Right-of-use asset	$	62	$	49
Current operating lease liabilities	Other current liabilities		18		11
Noncurrent operating lease liabilities	Operating lease liabilities		45		39


Lease Type	Cash Flow Classification	Lease Expense Category		2025		2024
Operating leases	Operating cash flows	Lease cost	$	25	$	15


	2025		2024
Weighted-average remaining lease term - operating leases	5.6 years		6.5 years
Weighted-average discount rate - operating leases	4.5	%	3.5	%


		2025			2024
Deferred tax assets:
Accrued liabilities and reserves	$	6		$	7
Inventories		22			3
Net operating loss carryforwards		250			103
Lease liability		9			12
Foreign tax credit carryforwards		35			19
Capitalization research and development expenditures		10			9
Hedges		23			—
Interest limitation carryforwards		68			—
Other		14			3
Total deferred tax assets		437			156
Valuation allowance		(199	)		(36	)
Total deferred tax assets, net of valuation allowance		238			120
Deferred tax liabilities:
Property, plant and equipment		139			68
Intangible assets		40			50
Leased asset		8			12
Other		21			11
Total deferred tax liabilities		208			141
Net deferred tax asset (liability)	$	30		$	(21	)


		2025			2024
Beginning unrecognized tax benefits	$	12		$	17
Penalties and interest		(4	)		—
Increases recognized through acquisition		38			—
Gross increases – tax positions in prior periods		1			2
Gross increases – current period tax positions		6			—
Settlements		—			(1	)
Lapse of statute of limitations		(8	)		(6	)
Ending unrecognized tax benefits	$	45		$	12


		Pension Benefits
Change in Benefit Obligation:
Beginning of period	$	—
Acquisition		27
Interest cost		1
Benefits paid		(2	)
Effect of currency rate changes		1
End of period	$	27


	Restructuring
		Employee Severance			Facility Exit			Non-Cash			Transaction
		and Benefits			Costs			Charges			and Other(a)			Total
Balance as of fiscal 2022	$	—		$	—		$	—		$	4		$	4
Charges		10			1			—			13			24
Cash		(10	)		(1	)		—			(17	)		(28	)
Balance as of fiscal 2023	$	—		$	—		$	—		$	—		$	—
Charges		13			3			3			11			30
Non-cash items		—			—			(3	)		—			(3	)
Cash		(5	)		(3	)		—			(11	)		(19	)
Balance as of fiscal 2024	$	8		$	—		$	—		$	—		$	8
Charges		26			2			5			56			89
Non-cash items		—			—			(5	)		—			(5	)
Cash payments		(21	)		(2	)		—			(54	)		(77	)
Balance as of fiscal 2025	$	13		$	—		$	—		$	2		$	15


	2025
		Number of Shares			Weighted Average
		(in thousands)			Grant Price
Awards granted		1,636		$	20.16
Awards exercised		(248	)		21.05
Awards forfeited or cancelled		(29	)		20.19
Awards outstanding, end of period		1,359			20


Depreciation and amortization
Americas	$	132	$	123	$	119
Rest of World		74		52		50
Total depreciation and amortization	$	206	$	175	$	169


		2025		2024
Long-lived assets
Americas	$	1,796	$	1,460
Rest of World		770		461
Total long-lived assets	$	2,566	$	1,921


(in percentages)	2025	2024
Net sales
Personal Care	48 %	49 %
Consumer Solutions	52 %	51 %
Total net sales	100 %	100 %


(in millions)		2025			2024			2023
Numerator
Consolidated net income (loss)	$	(159	)	$	(154	)	$	38
Denominator
Weighted average common shares outstanding - basic and dilutive		35.5			31.8			31.8

Net income (loss) per share:
Basic and diluted	$	(4.47	)	$	(4.84	)	$	1.19


Exhibit no.		Document
2.1†		RMT Transaction Agreement, dated as of February 6, 2024, by and among Glatfelter Corporation, Treasure Merger Sub I, Inc., Treasure Merger Sub II, LLC, Berry Global Group, Inc. and Treasure Holdco, Inc. (incorporated by reference to Annex A to Exhibit 99.1 of Amendment No. 2 to the Registration Statement on Form 10 filed by Treasure Holdco, Inc. on October 21, 2024).
2.2†		Separation and Distribution Agreement, dated as of February 6, 2024, by and among Glatfelter Corporation, Berry Global Group, Inc. and Treasure Holdco, Inc. (incorporated by reference to Annex B to Exhibit 99.1 of Amendment No. 2 to the Registration Statement on Form 10 filed by Treasure Holdco, Inc. on October 21, 2024).
3.1		Amendment to the Amended and Restated Articles of Incorporation of Glatfelter Corporation (incorporated by reference to Exhibit 3.1 to the Current Report on Form 8-K filed on November 5, 2024).
3.2		Amended and Restated Bylaws of Magnera Corporation (incorporated by reference to Exhibit 3.2 to the Current Report on Form 8-K filed on November 5, 2024.
4.1		Indenture, by and between Treasure Escrow Corporation and U.S. Bank Trust Company, National Association, as Trustee and Collateral Agent, relating to the 7.250% Senior Secured Notes due 2031, dated October 25, 2024 (incorporated by reference to Exhibit 4.1 to the Current Report on Form 8-K filed on November 5, 2024.
4.2		First Supplemental Indenture, by and among Treasure Escrow Corporation, Treasure Merger Sub II, LLC and U.S. Bank Trust Company, National Association, as Trustee and Collateral Agent, relating to the 7.250% Senior Secured Notes due 2031, dated November 4, 2024 (incorporated by reference to Exhibit 4.2 to the Current Report on Form 8-K filed on November 5, 2024).
4.3		Second Supplemental Indenture, by and among Magnera Corporation, each of the parties identified as a Subsidiary Guarantor thereon, Treasure Merger Sub II, LLC and U.S. Bank Trust Company, National Association, as Trustee and Collateral Agent, relating to the 7.250% Senior Secured Notes due 2031, dated November 4, 2024 (incorporated by reference to Exhibit 4.3 to the Current Report on Form 8-K filed on November 5, 2024).
4.4		Third Supplemental Indenture, by and among Magnera Corporation, each of the parties identified as a Subsidiary Guarantor thereon and Wilmington Trust, National Association, as trustee, relating to the 4.750% Senior Notes due 2029, dated November 4, 2024 (incorporated by reference to Exhibit 4.4 to the Current Report on Form 8-K filed on November 5, 2024).
10.1†		Employee Matters Agreement, dated as of February 6, 2024, by and among Glatfelter Corporation, Berry Global Group, Inc. and Treasure Holdco, Inc. (incorporated by reference to Exhibit 10.1 to the Current Report on Form 8-K filed by Glatfelter Corporation on February 12, 2024).
10.2		Tax Matters Agreement, dated as of February 6, 2024, by and among Glatfelter Corporation, Berry Global Group, Inc. and Treasure Holdco, Inc. (incorporated by reference to Exhibit 10.2 to the Current Report on Form 8-K filed by Glatfelter Corporation on February 12, 2024).
10.3		Amendment to Tax Matters Agreement, dated as of October 21, 2024, by and among Glatfelter Corporation, Berry Global Group, Inc. and Treasure Holdco, Inc. (incorporated by reference to Exhibit 10.3 to Amendment No. 2 to the Registration Statement on Form 10 filed by Treasure Holdco, Inc. on October 21, 2024).
10.4		Transition Services Agreement, dated as of November 4, 2024, by and between Berry Global, Inc., and Treasure Merger Sub II, LLC (incorporated by reference to Exhibit 10.1 to the Current Report on Form 8-K filed on November 5, 2024).
10.5		First Amendment to the Employee Matters Agreement, dated as of July 8, 2024, by and among Glatfelter Corporation, Berry Global Group, Inc. and Treasure Holdco, Inc. (incorporated by reference to Exhibit 10.4 to the Registration Statement on Form 10 filed by Treasure Holdco, Inc. on August 23, 2024).
10.6		Second Amendment to the Employee Matters Agreement, dated as of September 25, 2024, by and among Glatfelter Corporation, Berry Global Group, Inc. and Treasure Holdco, Inc. (incorporated by reference to Exhibit 10.47 to the Annual Report on Form 10-K filed by Berry Global Group, Inc. on November 26, 2024).
10.7+		Magnera Corporation 2024 Omnibus Incentive Plan (incorporated by reference to Annex E to Exhibit 99.1 of Amendment No. 2 to the Registration Statement on Form 10 filed by Treasure Holdco, Inc. on October 21, 2024).
10.8		Term Loan Credit Agreement, dated November 4, 2024, by and among Treasure Holdco, Inc., the lenders party thereto and Citibank, N.A. as administrative agent and collateral agent for the lenders (incorporated by reference to Exhibit 10.2 to the Current Report on Form 8-K filed on November 5, 2025).
10.9		Asset-Based Revolving Credit Agreement, dated November 4, 2024, by and among Treasure Holdco, Inc., Magnera Corporation, certain subsidiaries of Magnera, the lenders party thereto and Wells Fargo Bank, National Association as administrative agent, collateral agent and U.K. security trustee for the lenders (incorporated by reference to Exhibit 10.3 to the Current Report on Form 8-K filed on November 4, 2024).
10.10*		Amendment No. 1 to the Asset-Based Revolving Credit Agreement, dated November 4, 2024.
10.11		Magnera Corporation 2024 Omnibus Incentive Plan (incorporated by reference to Exhibit 10.5 to the Current Report on Form 8-K filed on November 5, 2024).
10.12		Form of Restricted Stock Unit Award Agreement (incorporated by reference to Exhibit 10.6 to the Current Report on Form 8-K filed on November 5, 2024).


10.13		Form of Performance Share Award Agreement (incorporated by reference to Exhibit 10.3 to the Current Report on Form 8-K filed on December 20, 2024).
10.14		Form of Special Restricted Stock Unit Award Agreement (incorporated by reference to Exhibit 10.8 to the Current Report on Form 8-K filed on November 5, 2024).
10.15		Form of Director Restricted Stock Unit Award Agreement (incorporated by reference to Exhibit 10.9 to the Current Report on Form 8-K filed on November 5, 2024).
10.16		Form of Restricted Stock Unit Award Agreement (Berry RSU Conversion) (incorporated by reference to Exhibit 10.10 to the Current Report on Form 8-K filed on November 5, 2024).
10.17		Form of Restricted Stock Unit Award Agreement (Berry Option conversion) (incorporated by reference to Exhibit 10.11 to the Current Report on Form 8-K filed on November 5, 2024).
10.18		Form of Restricted Stock Unit Award Agreement (Berry DER conversion) (incorporated by reference to Exhibit 10.12 to the Current Report on Form 8-K filed on November 5, 2024).
10.19		Magnera Corporation Deferred Compensation Plan (incorporated by reference to Exhibit 10.13 to the Current Report on Form 8-K filed on November 5, 2024).
10.20		P.H. Glatfelter Company Supplemental Executive Retirement Plan Amendment (incorporated by reference to Exhibit 10.14 to the Current Report on Form 8-K filed on November 5, 2024).
10.21		First Amendment to Tax Matters Agreement, dated October 21, 2024 (incorporated by reference to Exhibit 10.1 to the Current Report on Form 8-K filed by Glatfelter Corporation on October 22, 2024).
10.22		Employment Agreement, dated December 20, 2024, between Magnera Corporation and Curtis L. Begle (incorporated by reference to Exhibit 10.1 to the Current Report on Form 8-K filed on December 20, 2024).
10.23		Magnera Corporation Executive Severance Plan (incorporated by reference to Exhibit 10.2 to the Current Report on Form 8-K filed on December 20, 2024).
16.1		Letter from Deloitte & Touche LLP dated November 4, 2024 (incorporated by reference to Exhibit 16.1 to the Current Report on Form 8-K filed on November 5, 2024).
19*		Insider Trading Policy.
21.1*		Subsidiaries of the Registrant.
22.1*		List of Subsidiary Guarantors.
23.1*		Consent of Independent Registered Public Accounting Firm.
31.1*		Rule 13a-14(a)/15d-14(a) Certification of the Chief Executive Officer.
31.2*		Rule 13a-14(a)/15d-14(a) Certification of the Chief Financial Officer.
32.1*		Section 1350 Certification of the Chief Executive Officer.
32.2*		Section 1350 Certification of the Chief Financial Officer.
101.INS		Inline XBRL Instance Document (the instance document does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document).
101.SCH		Inline XBRL Taxonomy Extension Schema Document.
101.CAL		Inline XBRL Taxonomy Extension Calculation Linkbase Document.
101.DEF		Inline XBRL Taxonomy Extension Definition Linkbase Document.
101.LAB		Inline XBRL Taxonomy Extension Label Linkbase Document.
101.PRE		Inline XBRL Taxonomy Extension Presentation Linkbase Document.
104		Cover Page Interactive Date File (formatted as Inline XBRL and contained in Exhibit 101).


	MAGNERA CORPORATION

	By	/s/ Curt Begle
		Curt Begle
		Chief Executive Officer

Signature	Title	Date

/s/ Kevin M. Fogarty	Chairman of the Board and Director	November 25, 2025
Kevin M. Fogarty

/s/ Curt Begle	Chief Executive Officer and Director (Principal Executive Officer)	November 25, 2025
Curt Begle

/s/ James M. Till	Chief Financial Officer (Principal Financial and Accounting Officer)	November 25, 2025
James M. Till

/s/ Bruce Brown	Director	November 25, 2025
Bruce Brown

/s/ Michael S. Curless	Director	November 25, 2025
Michael S. Curless

/s/ Thomas M. Fahnemann	Director	November 25, 2025
Thomas M. Fahnemann

/s/ Mary D. Hall	Director	November 25, 2025
Mary D. Hall

/s/ Samantha J. Marnick	Director	November 25, 2025
Samantha J. Marnick

/s/ C. Rick Rickertsen	Director	November 25, 2025
C. Rick Rickertsen

/s/ Thomas E.Salmon	Director	November 25, 2025
Thomas E. Salmon