Investor Presentaiton

Q1 FY22 CORRUGATED PACKAGING RESULTS FIRST QUARTER $ IN MILLIONS, EXCEPT PER SHARE ITEMS FY22 FY21 Segment Sales(1) $2,144 $1,923 Adjusted EBITDA (2) $289 $348 % Margin (1) (2) 13.5% 18.1% ☐ ADJUSTED EBITDA ($ IN MILLIONS) (2) -$59 277 $348 $289 (43) (230) (63) Q1 FY21 Volume Price / Mix Inflation Productivity / Operations Q1 FY22 1) Excludes white top trade sales 12 2) Non-GAAP Financial Measure. See Non-GAAP Financial Measures and Reconciliations in the Appendix. ◉ Q1 YEAR-OVER-YEAR HIGHLIGHTS Segment sales up 11.5% in the quarter driven by strong price/mix ■ Volumes impacted by lower shipments year-over-year due to supply chain and labor challenges Higher inflation led by freight, energy, chemical and labor costs Productivity negatively impacted by COVID-related absenteeism, supply chain constraints and highest level of scheduled maintenance in the Company's history FY22 Adjusted EBITDA margin (2) expected at or above last year WestRock

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