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Strong Growth Driven by Machine Placement

Ranpak Strong Growth Driven by Machine Placement 12 Note: (1) Adj. Net Sales (1) ($ in millions, unless otherwise noted) Compound sales annual growth rates 2002A-2019A 7.2% 2015A 2019A 6.2% $277 $264 $246 $233 $216 $218 $188 $176 $176 $149 $158 $156 $144 $128 $112 $100 $85 $89 8 ཚ ༔ ཤྩ ་ ་ ༔ རྞ ¢ < རཱཾ ༈ ༈ ༈ ༈ ¢ $ ཛྙ Based on unaudited sales prior to 2015 # of Machines (YE in 000s) 2002A-2019A 9.0% Compound annual growth rates 36 31 27 24 24 50 45 52 57 54 54 54 60 2015A 2019A 8.3% 82 76 70 64 97 91 = ཨྠ ་ ༔ ༔ ༔ ྃ ཙྪཱ ༔ ཎྜ རྞ རྞ ྃ རྩྭ ན ཙྭ ¢ ཚ ་ 2015 to 2017 sales figures are pro forma for the e3neo acquisition. Adjusted net sales is a non-GAAP measure, consisting of net sales presented on a constant currency basis for the periods presented and excluding the impact of certain additional specified items. Based on constant currency at €/$ 1.15. Refer to the Appendix to this presentation for a description of the basis of presentation and a reconciliation of Adjusted net sales to net sales for the years 2015-2018, the most directly comparable US GAAP measure. 105
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