#1rdd INVESTOR PRESENTATION Second Quarter 2021#2Slide / 2 SAFE HARBOR & NON-GAAP Use of Forward Looking Statements This presentation contains "forward-looking statements" within the meaning of, and subject to the safe harbor created by, Section 21E of the Securities Exchange Act of 1934, as amended, with respect to the business, strategy and plans of R. R. Donnelley & Sons Company (the "Company") and its expectations relating to future financial condition and performance. Readers are cautioned not to place undue reliance on these forward-looking statements and any such forward-looking statements are qualified in their entirety by reference to the following cautionary statements. All forward-looking statements speak only as of the date of this presentation and are based on current expectations and involve a number of assumptions, risks and uncertainties that could cause the actual results to differ materially from such forward-looking statements. Words such as "believes", "anticipates", "estimates", "expects", "intends", "aims", "potential", "will", "would", "could", "may", "considered", "likely", and variations of these words and similar future or conditional expressions are intended to identify forward-looking statements but are not the exclusive means of identifying such statements. Such forward-looking statements are only predictions and involve known and unknown risks and uncertainties. The Company does not undertake to and specifically disclaims any obligation to publicly release the results of any revisions to these forward-looking statements that may be made to reflect future events or circumstances after the date of such statement or to reflect the occurrence of anticipated or unanticipated events. These factors include such risks and uncertainties detailed in the Company's periodic public filings with the SEC, including but not limited to, those discussed under the "Risk Factors" section in the Company's Form 10-K for the year ended December 31, 2020 and Form 10-Q for the quarter ended June 30, 2021, and other filings with the SEC and in other investor communications from the Company from time to time. Non-GAAP Financial Information While the Company reports its results in accordance with generally accepted accounting principles in the United States ("GAAP"), this presentation contains non-GAAP financial measures, including non-GAAP SG&A, non-GAAP adjusted income from operations, non- GAAP adjusted EBITDA, non-GAAP adjusted operating margin, non-GAAP interest expense, non-GAAP effective tax rate, non-GAAP adjusted diluted EPS, and gross and net leverage ratios. The Company believes that these non-GAAP measures, when presented in conjunction with comparable GAAP measures, provide useful information about its operating results and enhance the overall ability to assess the Company's financial performance. Internally, the company uses this non-GAAP information as an indicator of business performance, and evaluates management's effectiveness with specific reference to these indicators. These measures should be considered in addition to, not a substitute for, or superior to, measures of financial performance prepared in accordance with GAAP. A reconciliation of GAAP to non-GAAP financial measures can be found in our periodic filings with the Securities and Exchange Commission. Note on Continuing Operations Beginning in the third quarter of 2020, the Company has reflected its Logistics business as discontinued operations for all periods presented. The Company's references to net sales, SG&A, income from operations, net income or loss, and per share amounts in this presentation are on a continuing operations basis without Logistics. All prior periods presented have been restated to conform to this presentation. rr#3COMPANY REPRESENTATIVES Slide 3 Dan Knotts President & CEO RRD Terry Peterson EVP, CFO RRD Johan Nystedt SVP Finance RRD rr#4Slide 14 COMPANY OVERVIEW rr#5Slide / 5 RRD - A MARKETING AND BUSINESS COMMUNICATIONS COMPANY RRD CLIENTS RRD MARKETING SOLUTIONS (23% of Sales) Empowering brands to optimize customer engagement with maximum return rr $4.8 Billion Net Sales (2020) 30,000 Clients 33,000 Employees ~200 Locations 28 Countries CLIENT CUSTOMERS RRD BUSINESS SERVICES (77% of Sales) Enabling companies to service and strengthen customer relationships with maximum efficiency rr#6Slide / 6 COMPREHENSIVE PORTFOLIO OF KEY PRODUCTS AND SERVICES Commercial Print and Digital Print & Fulfillment Direct Marketing EA ******* Digital & Creative Solutions CONTENT MANAGEMENT www Statements NEW ACCOUNT WIT Forms Comprehensive portfolio of capabilities utilized for multichannel solutions or single points of entry AVENTORY 1100567 2007 Packaging NIERT A Labels Jack's Marketing Solutions To lili Pella Business Process Outsourcing Supply Chain Management Business Services rr#7Slide 17 COMPANY STRATEGY rr#8Slide 8 BUILDING FOR THE FUTURE BY INTEGRATING PRINT AND DIGITAL (1) (2) ADDRESSABLE PRINT MARKET $112B (1) RRD Integrated print & digital solutions DATA ANALYTICS ~$123B Market(³) DIGITAL MARKETING EXECUTION ~$119B Market(4) OBSERVATIONS Comprehensive portfolio of print and marketing products and services Leading provider of integrated solutions to broad and diverse set of clients Potential to further drive client spend across entire RRD portfolio by enhancing digital and data capabilities Opportunities to extend scale in existing capabilities and "in source" additional work INDUSTRY DYNAMICS US / World Wide Growth CAGR 2020-2024 Commercial Printing (2): 2.0% / 2.3% ✓ Data and Analytics Services (3): 16.1% / 17.2% Digital Agency Services (4): 9.2% / 9.7% Per 2017 Bain analysis. 2.0% Represents North America. Data as of Q4 2019. Mordor Intelligence, Global Industry Reports, "Global Commercial Printing Market - Growth, Trends, and Forecast (2020-2025)," August 2020. 16.1% Represents U.S. Data as of May 26, 2020. Gartner, Inc., "Forecast Analysis: Data and Analytics Services, Worldwide," December 2020. (3) (4) 9.2% Represents Americas. Data as of June 30, 2020. IDC, "Worldwide and U.S. Digital Agency Services Forecast, 2020-2024," July 2020. rrd#9Slide / 9 RRD STRATEGIC PRIORITIES AND RECENT ACCOMPLISHMENTS Strengthen Core Drive Revenue Improve Financial Flexibility ● ● ● ● Sold low margin Logistics businesses Reorganized functions across all segments, consolidated facilities, and rationalized assets Accelerated cost reduction initiatives; Q2 adjusted SG&A as % of Sales improved 80 bps from prior year Captured new sales opportunities as a result of the pandemic Leveraged extensive capabilities to expand client relationships Targeted investments in high growth product categories Implemented innovative solutions to solve evolving client needs Reduced total debt by $494 million from prior year second quarter; total reduction from 2016 at $846 million Offerings of $450 million aggregate principal amount of senior secured notes due 2026 closed early in the second quarter Completed amendment of our ABL credit facility, now maturing in April 2026, providing up to $650 million of available credit, subject to borrowing base limitations Firmly on our strategic path to advance RRD as a leading provider of marketing and business communications rr#10Slide / 10 RRD VALUE PROPOSITION Comprehensive solutions to reduce complexity, drive efficiency, and enhance effectiveness Postage & Mailing Warehousing & Fulfillment Campaign Management Data Analytics Multichannel Output Stores Design Consultation HR Brand Management Specification Management Ops List Management Sales Mktg Print Production Photography Creative Design Translation Premedia Services Vendor Management ↑ Postage & Mailing Warehousing & Fulfillment Campaign Management Data Analytics Multichannel Output Design Consultation Brand Management rr Specification Management List Management Print Production Photography Creative Design Translation Premedia Services Vendor Management rr#11Slide 11 EXPANDING SCOPE OF CLIENT ENGAGEMENTS Few Number of providers Many Total cost of ownership focus • Centrally managed, consolidated print procurement Focus on document management costs, ROI-based decisions Low • Outsourcing non-core processes Complex contractual relationships Bid & buy processes Fragmented print procurement Focus on print costs In-house print/document management Simple transactional relationships 1 1 I Expansion in client buying behaviors Bundled offerings Value to clients V Desire for more integrated solutions Integrated communications offering with workflow tools and content management capabilities Desire to drive multichannel communications effectiveness High We believe RRD has the differentiated ability to support the expanding needs of our clients rr#12MEANINGFUL OPPORTUNITY TO DRIVE GROWTH WITH EXISTING CLIENTS Significant opportunity to expand relationships with approximately 9,000 new clients (30% of total) Total Clients by Tenure 2020 Proven track record for leveraging the existing portfolio to capture a greater share of client spend Revenue-Weighted Avg. # of Products 1.12 (1) $1,359 Slide 12 1 Year # of Clients 34 Average Revenue Per Client ($ in Thousands) Top 1,000 Clients (2020) $1,286 2 Years 36 $1,614 3 Years 39 (1) Includes several new clients with large pandemic related projects, decreased from 2.31 in 2019. 4.79 $4,250 4+ Years 891 70.1% 4+ Years 1 Year 13.3% 8.3% 8.3% 2 Years 3 Years rr#13Slide/13 INDUSTRY DYNAMICS rr#14Slide 14 RRD COMPETITIVE LANDSCAPE Products Services Direct Marketing In-store Marketing & Displays Print Data Analytics and Insights Creative Services Content Management Email Services Marketing Solutions Quad Graphics Inner Workings we make marketing happen. IMAGINE! SC360 InnerWorkings. we make marketing happen. EPSILON MERKLE DEG HARTE HANKS Digital Marketing Agencies Local Printers STEEL CONNECT Pierre Rapid HARTE HANKS hh global tagCREATIVE OLIVER FREEDOM ENABUNCIMAGINATION Agencies willle OR RA vestcom. yes ansira MARKETING Various Ad Agencies Internal Creative Groups Print Labels Forms Customer Statements Packaging Sourcing ВРО Supply Chain Business Services Local Printers →williamsleatag Cenveo. ICONEX TAYLOR YUTO TAYLOR MULTI-CO O'NEIL TAYLOR MADE TO IMPRES ups T GLOBAL LABEL SOLUTIONS Broadridge fiserv. APTARA Custom Packaging &Labeling, Inc. InnerWorkings we make marketing happen. ENNIS* WS FedEx. TAYLOR CONDUENT Supply Chain WS Packaging Group Giving Brands Life, MYS FORT DEARBORN COMPANY STEEL IN CRAMI CONNECT storaenso InnerWorkings →williamsleatag LogicSource we make merketing happen. Quad Graphics Regional Dealers | O'NEIL MADE TO IMPRESS tc Superior Group AVERY DENNISON Integreon →williamsleatag China ODM's TRANSCONTINENTAL hh global rr#15Slide/15 KEY INVESTMENT HIGHLIGHTS rr