On May 23, 2019, Matthew P. Hepler tendered his resignation from the Board of Directors of Rayonier Advanced Materials Inc. effective immediately. Mr. Hepler joined the Board on May 21, 2018 in connection with an agreement, dated February 18, 2018, between the Company and Marcato Capital Management LP. Mr. Hepler also notified the Board that Marcato Capital Management LP will not exercise its right, in accordance with the Agreement, to designate Richard T. McGuire III to the Board as a successor director to Mr. Hepler.