Superior Court of Quebec approves previously announced acquisition of Intertape Polymer Group by an affiliate of Clearlake Capital Group, with arrangement expected to close in early Q3; Clearlake to acquire all outstanding shares of IPG for C$40.50/share

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QUEBEC , May 16, 2022 (press release) –

Intertape Polymer Group Inc (TSX:ITP)

Shares Issued 59,284,947

Last Close 5/13/2022 $38.90

Friday May 13 2022 - News Release

Mr. Ross Marshall reports

SUPERIOR COURT OF QUEBEC GRANTS FINAL ORDER TO INTERTAPE POLYMER GROUP INC. APPROVING THE ARRANGEMENT WITH AN AFFILIATE OF CLEARLAKE CAPITAL GROUP, L.P.

The Superior Court of Quebec has issued a final order approving the previously announced acquisition of Intertape Polymer Group Inc. by an affiliate of Clearlake Capital Group LP by way of a plan of arrangement in accordance with Section 192 of the Canada Business Corporations Act. Pursuant to the terms of the arrangement, the purchaser will acquire all of the outstanding shares of the company for a consideration per share of $40.50 in cash.

Subject to the satisfaction or waiver of the remaining conditions to closing contained in the arrangement agreement with the purchaser, the arrangement is expected to close early in the third quarter of 2022.

About Intertape Polymer Group Inc.

Intertape Polymer Group is a recognized leader in the development, manufacture and sale of a variety of paper and film-based pressure-sensitive and water-activated tapes, stretch and shrink films, protective packaging, woven and non-woven products, and packaging machinery for industrial and retail use. Headquartered in Montreal, Que. , and Sarasota, Fla. , IPG employs approximately 4,200 employees with operations in 34 locations, including 22 manufacturing facilities in North America , five in Asia and two in Europe .

About Clearlake Capital Group LP

Founded in 2006, Clearlake Capital Group is an investment firm, operating integrated businesses across private equity, credit and other related strategies. With a sector-focused approach, the firm seeks to partner with management teams by providing patient, long-term capital to dynamic businesses that can benefit from Clearlake Capital Group's operational improvement approach, O.P.S. The firm's core target sectors are industrials, consumer and technology. Clearlake Capital Group currently has over $72-billion of assets under management, and its senior investment principals have led or co-led over 300 investments. The firm has offices in Santa Monica and Dallas .

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