Exhibit 99.1 NEWS RELEASE Pactiv Evergreen Reports First Quarter 2024 Financial Results Solid operating performance despite macro challenges; Reiterating 2024 guidance First Quarter 2024 Financial Highlights: • Net Revenues of $1,252 million for the first quarter of 2024 were down 13% compared to $1,431 million in the first quarter of 2023 and down 2% compared to $1,274 million in the fourth quarter of 2023. • Net Income of $10 million for the first quarter of 2024 compared to a net loss of $133 million in ...