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| SUPPLEMENT NO. 40 (this “Supplement") dated as of             |
| February  14,  2014,  to  the  Collateral  Agreement  dated  as  of |
| November   5,   2009   (the “Collateral Agreement"), among    |
| REYNOLDS GROUP HOLDINGS INC., a corporation organized               |
| under the laws of the state of Delaware (“RGHI"), PACTIV LLC  |
| (f/k/a Pactiv Corporation), a limited liability company organized   |
| under the laws of the state of Delaware (“Pactiv"), EVERGREEN |
| PACKAGING  INC.,  a  Delaware  corporation  (“Evergreen"),    |
| REYNOLDS  CONSUMER  PRODUCTS,  INC.,  a  Delaware                   |
| corporation  (“RCPI"), REYNOLDS CONSUMER PRODUCTS             |
| HOLDINGS LLC (f/k/a Reynolds Consumer Products Holdings             |
| Inc.), a limited liability company organized under the laws of the  |
| state  of  Delaware ("RCPH" and, together with RGHI, Pactiv,        |
| Evergreen and RCPI, the “U.S. Term Borrowers"), CLOSURE       |

|                                                                                                                                             |
|---------------------------------------------------------------------------------------------------------------------------------------------|
|                                                                                                                                             |  |  |
| the  U.S.  Term  Borrowers,  the  “Borrowers"), REYNOLDS                                                                              |
| GROUP ISSUER LLC, a limited liability company formed under                                                                                  |
| the laws of the state of Delaware (the “U.S. Issuer"), REYNOLDS GROUP ISSUER INC., a corporation organized                            |
| under the laws of the state of Delaware (the “U.S. Co-Issuer"                                                                         |
| and, together with the U.S. Issuer, the “Issuers”), each                                                                        |
| Subsidiary of Reynolds Group Holdings Limited (“Holdings”)                                                                      |
| from time to time party thereto (each such Subsidiary, the                                                                                  |
| Borrowers and the Issuers are referred to  collectively herein as                                                                           |
| the “Grantors”)  and  THE  BANK  OF NEW YORK MELLON, as collateral agent (in such capacity, the “Collateral Agent”) |

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|        |  |  |  |  |  |  |  |  |  |
|   |   |   |   | Schedule 1 |   |   |   |   |
|   |   |   |   | Names |   |   |   |   |
|   |   |   |   |   |   |   |   |   |   |
|   |   |   |   | Other Legal Names |   |   | Change in Identity or Corporate |   |   |
|   |   |   |   | Within the Past 5 years |   |   |   |   |
|   | Grantor’s Exact Legal Name |   |   |   |   | Structure Within the Past 5 years |   |   |
|   |   |   | (including date of change) |   |   |   |   |
|   |   |   |   |   |   |   |   |   |
|   | Trans Western Polymers, Inc. |   | None. |   | None. |   |
|   |   |   |   |   |   |   |   |   |   |

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|                |
|----------------|
|                |  |  |  |  |  |  |  |  |  |  |
|           |   |   | Organizational |   | Registered Office |   |   | Chief Executive |   |   |
|           |   |   | Identification |   |   |   |   |   |
|           | Jurisdiction of | Form of | Number |   | Address |   |   | Office |   |   |
| Grantor        | Organization | Organization | (if any) |   | (including county) |   |   | (including county) |   |   |
| Trans Western  | California | Corporation | C1138068 |   | 7539 Las Positas Rd. |   | 1900 W. Field Ct. |   |
| Polymers, Inc. |   |   |   |   | Livermore, CA |   | Lake Forest, IL |   |
|           |   |   |   | 94551 |   | 60045 |   |   |
|           |   |   |   |   | Alameda County |   | Lake County |   |
|           |   |   |   |   |   |   |   |   |   |   |

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|--------|
|        |  |  |  |  |  |  |
|   | Grantor |   |   | Names and Addresses of Other Persons that |   |   |
|   |   |   | Possess any Collateral (including county) |   |   |
|   |   |   |   |   |   |
|   | Trans Western Polymers, |   | None. |   |
|   | Inc. |   |   |
|   |   |   |   |   |
|   |   |   |   |   |   |   |

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|-------------|
|             |  |  |  |  |  |  |
| Schedule 5  |   |
| UCC Filings |
|        |   |   |   |   |   |   |
|        | Grantor |   |   | UCC Filing Office/County Recorder’s |   |   |
|        |   |   | Office |   |   |
|        |   |   |   |   |   |
|        |   |   |   | California Secretary of State |   |
|        | Trans Western Polymers, |   | Uniform Commercial Code |   |
|        | Inc. |   | P.O. Box 942835 |   |
|        |   |   |   | Sacramento, CA 94235–0001 |   |
|        |   |   |   |   |   |   |

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|        |
|--------|
|        |  |  |  |  |  |  |  |  |  |  |
|   |   |   |   |   |   | Number of |   |   |   |   |
|   |   |   |   | Certificate |   | Equity |   | Percentage of |   |   |
|   | Grantor |   | Issuer | Number |   | Interests |   | Ownership |   |   |
|   | Reynolds Consumer |   | Trans Western | 27 |   | 320 |   | 100% |   |   |
|   | Products, Inc. |   | Polymers, Inc. |   |   |   |   |
|   |   |   |   |   |   |   |   |   |
|   |   |   |   |   |   |   |   |   |   |   |

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|        |  |  |  |  |  |  |  |  |
|   | Exact Name of Owner |   | Exact Name of | Property |   | Filing Office |   |   |
|   |   | Record Owner | Address |   |   |   |
|   |   |   |   |   |   |   |
|   | Trans Western Polymers, | None. | None. |   | None. |   |
|   | Inc. |   |   |
|   |   |   |   |   |   |   |

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|        |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   | Schedule 9(b) to |   |
|   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   | Supplement No. 40 to the |   |
|   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   | Collateral Agreement |   |
|   |   |   |   |   |   |   |   |   |   | Schedule 9(b) |   |   |   |   |   |   |   |   |   |   |   |
|   |   |   |   |   |   |   |   |   | Intellectual Property |   |   |   |   |   |   |   |   |   |   |   |
|   |   |   |   |   |   |   | U.S. Patent Applications |   |   |   |   |   |   |   |   |   |   |   |
|   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|   | Assignee |   |   | Country |   |   | Title |   |   | Appl. No. |   |   | Appl. |   |   | Status |   |   | Patent |   |   | Grant Date |   |   |   |
|   |   |   |   |   |   |   |   |   | Date |   |   |   |   | No. |   |   |   |   |   |
|   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|   |   |   |   |   |   |   | POLYMERI |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|   | TRANS |   |   |   |   | C BAG |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|   | WESTERN |   | United |   | WITH | 13/247560 |   |   | 28-Sep- |   | Filed |   |   |   |   |   |   |   |   |
|   | POLYMERS, |   | States |   | ELASTIC |   | 11 |   |   |   |   |   |   |   |   |   |   |
|   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|   | INC. |   |   |   |   | DRAWTAP |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|   |   |   |   |   |   |   | E |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |

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|        |
|--------|
|        |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|   | Assignee |   |   | Country |   |   | Mark |   |   | Appl No |   | Appl |   | Status |   |   | Reg No |   |   | Reg Date |   |   |
|   |   |   |   |   |   |   |   | Date |   |   |   |   |   |   |   |
|   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|   | TRANS |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|   | WESTERN |   | United |   | IRON CLAD | 73/403323 |   | 22-Nov-82 |   | Registered1 | 1256930 |   |   | 8-Nov-83 |   |
|   | POLYMERS, |   | States |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|   | INC. |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|   | TRANS |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|   | WESTERN |   | United |   | HANDY TIE | 77/583849 |   | 2-Oct-08 |   | Registered | 3710172 |   |   | 10-Nov-09 |   |
|   | POLYMERS, |   | States |   |   |   |   |   |   |
|   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|   | INC. |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|   | TRANS |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|   | WESTERN |   | United |   | SMART | 77/624673 |   | 2-Dec-08 |   | Registered | 3735110 |   |   | 5-Jan-10 |   |
|   | POLYMERS, |   | States |   | CLOSURE |   |   |   |   |   |
|   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|   | INC. |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|   | TRANS |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|   | WESTERN |   | United |   | SMART FLAP | 77/583848 |   | 2-Oct-08 |   | Registered | 3838494 |   |   | 24-Aug-10 |   |
|   | POLYMERS, |   | States |   |   |   |   |   |   |
|   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|   | INC. |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|   | TRANS |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|   | WESTERN |   | United |   | HANDY FLAP | 77/583295 |   | 1-Oct-08 |   | Registered | 3941140 |   |   | 5-Apr-11 |   |
|   | POLYMERS, |   | States |   |   |   |   |   |   |
|   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|   | INC. |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|   | TRANS |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|   | WESTERN |   | United |   | IRONCLAD | 85/261840 |   | 9-Mar-11 |   | Registered | 4127871 |   |   | 17-Apr-12 |   |
|   | POLYMERS, |   | States |   |   |   |   |   |   |
|   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|   | INC. |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|   | TRANS |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|   | WESTERN |   | United |   | TEAR TOUGH | 77/705381 |   | 2-Apr-09 |   | Registered | 4283249 |   |   | 29-Jan-13 |   |
|   | POLYMERS, |   | States |   |   |   |   |   |   |
|   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|   | INC. |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |

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|        |
|--------|
|        |  |  |  |  |  |  |  |  |  |  |  |  |
|   | Grantor |   |   | Depositary Institution |   |   | Type of Account |   |   | Account Number |   |   |
|   |   |   | (including address) |   |   |   |   |   |   |
|   |   |   |   |   |   |   |   |   |   |   |   |
|   | Trans Western Polymers, |   | JP Morgan Chase Bank, |   | Concentration | 88644-9891 |   |   |
|   |   | N.A. |   | Account |   |   |
|   | Inc. |   |   |   |   |   |   |
|   |   | San Franciso Branch |   |   |   |   |   |   |   |
|   |   |   |   |   |   |   |   |   |   |   |
|   | Trans Western Polymers, |   | JP Morgan Chase Bank, |   | Payroll/Zero |   |   |   |   |
|   |   | N.A. |   | Balance | 88644-9909 |   |   |
|   | Inc. |   |   |   |   |
|   |   | San Franciso Branch |   |   |   |   |   |   |   |
|   |   |   |   |   |   |   |   |   |   |   |

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|        |  |  |  |  |  |  |  |  |  |  |  |  |
|   | Grantor |   |   | Intermediary Institution |   |   | Type of Account |   |   | Account Number |   |   |
|   |   |   | (including address) |   |   |   |   |   |   |
|   |   |   |   |   |   |   |   |   |   |   |   |
|   | Trans Western Polymers, |   | N/A |   | N/A |   | N/A |   |
|   | Inc. |   |   |   |   |
|   |   |   |   |   |   |   |   |   |   |   |
|   |   |   |   |   |   |   |   |   |   |   |   |   |

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