Colbert Packaging Inspires Elementary School Students in Salem, Wisconsin, to be Wise Stewards of Natural Resources

First Quarter Highlights *First quarter 2021 GAAP earnings per diluted share were $0.71, compared with $0.80 in 2020. *First quarter 2021 GAAP earnings included net after-tax charges of $19.4 million related to restructuring activity, asset impairments, acquisition and divestiture transaction costs, loss on a business divestiture and non-operating pension costs which were partially offset by insurance proceeds. In the first quarter of 2020, GAAP earnings included net after-tax charges of $14.8 million related mostly to restructuring actions and non-operating pension costs. *Base net income attributable to Sonoco (base earnings) for first quarter 2021 was $0.90 per diluted share, compared with $0.94 in 2020. (See base earnings definition, explanation and reconciliation to GAAP earnings later in this release.) Sonoco previously provided first quarter 2021 base earnings guidance of $0.80 to $0.90 per diluted share. *First quarter 2021 net sales were $1.35 billion, compared with $1.30 billion in 2020. *Cash flow from operations was $138.7 million in the first three months of 2021, compared to $87.7 million in 2020. Free cash flow was $99.4 million in the first three months of 2021, compared with $57.1 million in the first three months of 2020. *On April 4, 2021, Sonoco completed the sale of its U.S. Display and Packaging business to Hood Container Corporation for approximately $80 million in cash, the proceeds of which were received subsequent to the period's end.

WestRock Company announced that it has entered into an agreement to acquire the remaining interest in Grupo Gondi for $970 million, plus the assumption of debt, representing an estimated implied enterprise value of $1.763 billion. Upon completion of this transaction, WestRock will further enhance its leading position in the growing Latin American containerboard, paperboard and consumer and corrugated packaging markets. Grupo Gondi operates four paper mills, nine corrugated packaging plants and six high graphic plants throughout Mexico, producing sustainable packaging for a wide range of end markets in the region. The tuck-in acquisition will provide WestRock further geographic and end market diversification as well as position the Company to continue to grow in the attractive Latin American market. "Acquiring the remaining interest in Grupo Gondi is the next strategic step in our broader North American paper and packaging expansion strategy," said David B. Sewell, chief executive officer of WestRock. "As onshoring continues to grow in the region, WestRock will be well positioned to meet this growing demand with fully integrated operations in Mexico. We will also have expanded capabilities to serve customers across many geographies, driving additional productivity and cost savings.”

The 3D fibre product demo plant jointly owned by Metsä Group's innovation company Metsä Spring and Valmet was inaugurated in Äänekoski on Monday, 22 August 2022. The demo plant was inaugurated by Minister of Science and Culture Petri Honkonen, President and CEO of Metsä Group Ilkka Hämälä and CEO of Valmet Pasi Laine. The new Muoto® product, which is manufactured by the demo plant, is a significant new opening in the packaging market. Made from renewable and sustainably grown wood raw material, Muoto is an excellent alternative to plastics in many end uses, for example food packaging of different sizes and shapes. "It is important that new types of value-added products are developed from Finnish pulp, of which Muoto is a great example. It is a packaging material made from fossil-free raw materials for people's everyday life. We continue the development work towards a broader business," says Ilkka Hämälä.