Newell Brands (NWL) Reports Icahn Ends Director Appointment and Nomination Agreement

September 18, 2023 9:26 AM EDT

Newell Brands (NASDAQ: NWL) disclosed:

On September 15, 2023, Carl C. Icahn, including entities controlled by Carl C. Icahn and his associates and related affiliate entities (collectively, the “Icahn Group”) notified Newell Brands Inc. (the “Company”) that the Director Appointment and Nomination Agreement, dated as of March 18, 2018 between the Icahn Group and the Company (as amended April 23, 2018 and February 8, 2023, the “Nomination Agreement”), is terminated in all respects (the “Notification Letter”). The Company accepted and agreed to such termination.

Effective September 15, 2023, Gaoxiang (Gary) Hu and David Willetts resigned from the Board of Directors (the “Board”) of the Company. Their resignations were not due to any disagreement with the Company.

The foregoing summary is qualified in its entirety by reference to the Notification Letter, a copy of which is attached hereto as Exhibit 99.1 and incorporated by reference herein.

The Board has voted to reduce the size of the Board to nine members effective immediately.

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