Pyxus International, Inc. Receives Overwhelming Support of Creditors for Prepackaged Plan of Reorganization

Pyxus International, Inc. ("Pyxus" or "the Company") (OTC Pink: PYXSQ), a global value-added agricultural company, announced today that on July 20, 2020, the Prepackaged Plan of Reorganization of Pyxus International, Inc. and its Affiliated Debtors (the "Prepackaged Plan") was overwhelmingly approved by each class of creditors entitled to vote. Of those that submitted ballots, holders of 100% of first lien notes (holding over $266 million of principal) and over 99% of the second lien notes (holding over $524 million of principal) voted in favor of the Prepackaged Plan.

In addition, on July 22, 2020, the Bankruptcy Court presiding over the Company's Chapter 11 cases approved the Company's entry into a commitment letter for a $75 million revolving credit facility to be provided by Sound Point Capital upon the effective date of the Prepackaged Plan, subject to satisfaction or waiver of certain conditions.

"The level of support from our first lien and second lien noteholders in favor of the Prepackaged Plan, and the commitment from Sound Point to finance the company's go-forward working capital needs, reflects their collective confidence in our proposed restructuring transaction and future business strategy," said Pieter Sikkel, Pyxus' President and CEO. "The Company looks forward to working with its creditors and its other constituents to complete its restructuring process and emerge from the Chapter 11 in the near term."

The hearing to consider approval of the Prepackaged Plan is scheduled for August 18, 2020 at 9:30 a.m. ET.

About Pyxus International, Inc.

Pyxus International, Inc. (OTC Pink: PYXSQ) is a global agricultural company with more than 145 years of experience delivering value-added products and services to businesses, customers and consumers. Driven by a united purpose—to transform people's lives, so that together we can grow a better world—Pyxus International, its subsidiaries and affiliates, are trusted providers of responsibly sourced, independently verified, sustainable and traceable agricultural and consumer-driven products and ingredients. For more information, visit www.pyxus.com.