Strong Growth Driven by Machine Placement

13 Ranpak Diversified and Growing End-Markets Underlying Market B2C B2B % of market % of Ranpak sales(1) Est. growth rate Requirements Representative customers e-Commerce -40% Automotive auto aftermarket -34% ~5% -10% IT electronics ~5% Machinery -10% Home goods -2% -7% -7% -7% GDP plus Low to mid teens ■Integrated packaging solutions, depending on layout of distribution centers ■Low handling time and cost amazon Walmart Jet ■Strong protective qualities, as parts are often heavy, have sharp edges, and a high unit price ■ Integrated packaging solution to fit industrial M Mercedes-Benz ■Low need for protective properties, as goods are often pre-packaged ■Cushioning material with modern image MVGW INGRAM! ■Delicate parts require strong protective properties CAT EATON ■ Void-fill and wrapping solutions which conform to complex shapes ■Provide some degree of cushioning IKEA Examples Example use case ■Shoes shipped via online retailer ■Individual car part shipped from manufacturer to repair shop ■ Phone part shipped between manufacturing locations ■Machine parts shipped to another company division ■ Assembled chair shipped to retail store Source: Freedonia and US Census. (1) Based on 2019 financial statements included in the Form 10-K filed on 3/17/20

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