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Investor Presentation

Strategic Investments Mahrt Curtain Coater Replacing and upgrading coating section of #1 PM Expected results include: Reduced costs from improved machine performance and lower coating costs Improved quality and consistency of our CNK produced at the Mahrt mill Approx. $60 million in total investment with unlevered after-tax returns of >20% Completed in April 2019 Covington Upgrade Upgrading headbox, press section, dryer, coater and other systems Expected results include: Improved operating efficiency and lowered costs Further enhances quality and reduces basis weight of leading SBS products for the tobacco and food packaging markets Approx. $60 million total investment with unlevered after-tax returns of >20% Completed in May 2019 28 WestRock
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