NEW YORK – Federal authorities announced a settlement agreement with a successor trust to Chapter 11 debtor Motors Liquidation Company (“Old GM”), formerly known as General Motors Corporation, to settle Old GM’s environmental liabilities to the Environmental Protection Agency (“EPA”) arising from its releases of hazardous substances at the Onondaga Lake Superfund Site in New York. The Settlement Agreement was filed late in Manhattan bankruptcy court.

The Settlement Agreement resolves claims brought by the United States against Old GM under the Comprehensive Environmental Response, Compensation, and Liability Act, commonly known as the Superfund Statute, to recover EPA’s cleanup costs at several areas of the Onondaga Superfund Site. Under the terms of the agreement, EPA will receive allowed bankruptcy claims collectively exceeding $39.2 million. These allowed claims will be paid in part in stock and warrants of General Motors Corporation (“New

GM”) in an amount to be determined through the bankruptcy. The United States anticipates that, as a function of bankruptcy law, the New GM stock and warrants received by EPA will have a cash value of less than the face amount of EPA’s allowed claim. In addition to this allowed claim of $39.2 million, the State of New York will receive an allowed general unsecured claim of $859,257.

The Onondaga Lake Superfund Site encompasses 185,000 acres and is located in Onondaga County, New York. It consists of the Onondaga Lake, seven major and several minor tributaries, and contamination sources upland of the Lake.