International Paper Reports Second Quarter 2023 Results

Smurfit Kappa is launching its innovative punnet portfolio in Europe. The “Safe&Green” portfolio is Smurfit Kappa’s paper-based, sustainable solution to plastic packaging for fresh produce, and consists of unique designs that are 100% renewable, recyclable, and biodegradable. Recent research by Smurfit Kappa has found that consumers prefer a punnet that balances visibility of the contents with sustainability, with over half (58%) of respondents rating these as the most important attributes of fresh produce packaging. The research also found that 75% of consumers surveyed believe paper-based punnets to be the sustainable choice . In addition, Eurostat's latest figures affirm consumer’s beliefs as it confirmed that 83% of paper-based packaging is actually recycled. As a result, growers and retailers are increasingly selecting sustainable packaging solutions for fresh produce that respond to, and address, a multitude of customer needs.

Highlights • Strong financial performance from continuing operations ◦ Underlying EBITDA of €1,848 million, up 60% (2021: €1,157 million), with underlying EBITDA margin of 20.8% (2021: 16.6%) ◦ Profit before tax of €1,560 million, up 119% (2021: €712 million) ◦ Cash generated from operations of €1,292 million, up 29% (2021: €1,001 million); strong balance sheet with leverage (net debt to underlying EBITDA) of 0.5 times • €1 billion expansionary capital investment pipeline on track to deliver growth across our packaging businesses • Good progress made on our sustainability roadmap, Mondi Action Plan 2030 (MAP2030) ◦ Science-based Net-Zero targets validated • Completed sale of the Personal Care Components business • Agreed sale of Russian assets, with regulatory approval process ongoing

Timm will be responsible for delivering operational excellence and growth of Pregis’ blown film and converting operations in the new Anderson, South Carolina facility, as well as the Grand Rapids, Michigan location. The company recently announced a $80 million investment in the new South Carolina operation which will be serving food, CPG, medical, and converter market segments with engineered, customer-focused flexible packaging solutions tailored to the dynamic needs of brand owners and suppliers. “We view growth in specialty films as one of our top strategic imperatives. As the leader of this business, Dave will be charged with delivering on our aggressive goals through organic business growth and strategic expansion. He will oversee the significant investments we’ve made in our operations and build out a center of excellence with the vision of being the first choice in the market. As we look to the future, Dave will reinforce the Pregis Purpose to ‘Protect, Preserve, Inspyre’ by innovating, providing manufacturing excellence and delivering flexible packaging solutions that are driven by our Pregis 2K30 sustainability plan,” said Kevin Baudhuin, president and CEO, Pregis.