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Chatham Seeks A Strategic Review Of Non-core Assets Of R.R. Donnelley - Quick Facts

Private investment firm Chatham Asset Management, LLC, which manages funds that beneficially own approximately 14.9% of the outstanding common stock and which is the largest bondholder of communications company R.R. Donnelley & Sons Co. (RRD), announced Monday that they have sent a letter to RRD's Board of Directors following the Board's inaction and lack of engagement with Chatham despite the continued destruction of stockholder value at RRD.

Chatham believes that RRD's stock has the potential to increase more than $9 per share and is pushing for a strategic review of non-core assets and other operational and governance changes. This will result in increased operational efficiency through improved margins from cost reduction.

Chatham noted that if the RRD Board does not proactively respond to its suggestions, including by appointing a new Chairman and adding new directors, terminating the Company's poison pill, and forming a strategic review and finance committee, Chatham will be left with no choice but to commence a proxy contest.

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