Smurfit Kappa First Quarter 2023 Trading Update

Colbert Packaging Corporation­­ announces new printing capabilities for pharmaceutical, healthcare and consumer packaged goods manufacturers seeking a U.S. owned and operated supplier for paperboard packaging. Working with RM Machinery, Colbert announces the purchase of an RMGT 1060TP-LX 10-CC-LD+UV. The unique configuration of the press allows for multiple colors, coatings and cold foil enhancement inline. Jobs requiring multiple colors, coatings and cold foils are now able to be produced on this press. Various types of specialty coatings and enhancements can take two or three passes on a traditional printing press. This press accomplishes complex and unique graphics, resulting in elegant packaging solutions customers look for today—in one pass. The award-winning design of RMGT’s tandem perfector also provides the ability to print up to two colors on the inside of the carton, still in one pass through the press. This brings efficiency, convenience and potential cost savings to the project.

Fourth Quarter 2021 Highlights (as compared to fourth quarter 2020): • Revenue increased 20.2% to $413.7 million primarily due to the impact of higher selling prices and an increase in volume/mix primarily driven by certain tapes and dispensing machines. • Gross margin decreased to 19.7% from 25.7% primarily due to the unfavourable mathematical impact of Dollar Spread Maintenance(2) and an increase in plant operating costs including costs associated with supply chain disruptions and labor shortages, partially offset by a favourable product mix. • Net earnings attributable to the Company's shareholders ("IPG Net Earnings") decreased $8.0 million to $9.1 million primarily due to an increase in finance costs mainly due to an increase in the NCI Put Options Revaluation(3) and a decrease in gross profit, partially offset by a decrease in SG&A. Fiscal Year 2021 Highlights (as compared to fiscal year 2020): • Revenue increased 26.3% to $1,531.5 million primarily due to the impact of higher selling prices in all product categories driven by significant increases in the cost of raw materials and freight as well as an increase in volume/mix. 1 • Gross margin decreased to 22.2% from 23.8% primarily due to the unfavourable mathematical impact of Dollar Spread Maintenance. • IPG Net Earnings decreased $4.9 million to $67.8 million primarily due to (i) an increase in finance costs mainly due to the 2018 Senior Unsecured Notes Redemption Charges(5), the non-recurrence of the Nortech Contingent Consideration Gain(6) and an increase in the NCI Put Options Revaluation, and (ii) an increase in SG&A, partially offset by an increase in gross profit.

Berry Global Group, Inc. earned an “A” environmental, social, and governance (ESG) rating from international ratings agency MSCI for its progress managing ESG risks and opportunities, including improvements in Carbon Emissions, Labor Management, and Packaging Material and Waste. “We are honored to receive such high recognition from MSCI for our continued efforts to increase transparency and prioritize key environmental and social issues across our global business, while strengthening Berry’s resilience to long-term ESG risks,” said Tom Salmon, CEO of Berry Global. “This improved 'A' rating reflects our ongoing investments in our workforce as well as our commitment to reducing the environmental impact of packaging and achieving net-zero emissions by 2050.”