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tc. SUCCESSFULLY TRANSFORM PORTFOLIO TOWARDS ACTIVITIES WITH FAVOURABLE LONG-TERM OUTLOOK Traditional segments 2017 Growth segments 30% $2.0B 65% 5% 27% Segments divested Growth 30% Segments 2022 73% $3.0B 73% Future >$4B >80% Using strong cash flows from traditional segments to transform the company Long-term profitable growth outlook Solid balance sheet providing opportunities to accelerate growth through capital investments and acquisitions Note: Growth segments include the Packaging Sector, the Media Sector, and the In-Store Marketing (ISM), Book, and Premedia activities 21 | tc ● TRANSCONTINENTAL

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