Investor Presentation

(in millions of $) Growing Revenues Successfully managing secular decline of Envelope Segment and diversification into Packaging Segment 297 272 CAGR: 77 226 205 72 16.6% 195 192 179 69 58 35 57 55 CAGR: 220 200 8.4% 144 138 137 147 157 2017 2018 2019 2020 2021 2022 LTM Q1-23 Envelope ■ Packaging Note: Totals may not add up due to rounding. 32

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