Investor Presentaiton

EXECUTING GROWTH INITIATIVES AND DELIVERING ON OUR VISION; POSITIONING BUSINESS IN 2026 AND BEYOND TO ACHIEVE SIGNIFICANT ANNUAL CASH FLOW AND MARGIN STABILITY IN A HIGHER, MORE NARROW EBITDA MARGIN RANGE 2019 2022 Actual Actual 2023 Guidance Enhanced Vision 2025 Sales $6.2B $9.4B ~$10B $10B $12B Adjusted EBITDA ($M) $1,030 $1,600 $1,800 - $2,000 $2,000 - $2,400 Adjusted EBITDA Margins 16.7% 16.9% 18% - 20% ~20% Adjusted EPS $1.03 $2.33 - $2.70 $3.10 $3.25+ CapEx (as a % of sales) 6% 6% ~8%1 7% - 8%1 ROIC 8% 9% 10% 11% - 10% -12% Paperboard Integration Rate 68% 73% 75-80% Credit Rating BB+/Ba1 90%+ Investment Grade Graphic Packaging HOLDING COMPANY Note: Adjusted historical figures represent Non-GAAP Financial Measures. Please refer to fourth quarter 2019 and 2022 earnings press releases for reconciliations to GAAP measures Note: Excludes pending acquisition of Bell Incorporated 1. Increased to support strategic capital investments primarily the new Waco CRB mill; capital expenditures as a % of sales will decline

View entire presentation