Investor Presentaiton

Forward-looking statements This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including but not limited to the statements on the slides entitled "Building a Paper and Packaging Leader”, “Q1 FY17 Quarter Results on Track", "Synergy and Performance Improvements", "Guidance Update", "WestRock to Acquire Multi Packaging Solutions - Transaction Summary", "$85 Million Opportunity for Synergies and Performance Improvements by End of FY19", "Combined Financial Profile", "Q1 FY17 Consumer Packaging Results" and "Key Commodity Annual Consumption Volumes and FX by Currency" that give guidance or estimates for future periods as well as statements regarding, among other things, that we expect a run-rate of $800 million in synergy and performance improvements by end of FY17 and to achieve $1 billion goal by end of FY18; the at we anticipate net proceeds of approximately $1 billion, after taxes and transaction expenses related to the sale of our Home, health and Beauty business; that PPW published price declines in SBS are expected to carry throughout FY17; that the Multi Packaging Solutions transaction advances our strategy to provide differentiated, high value-added solutions to our customers, enhances our capabilities to serve new and existing customers, expands our participation into attractive end markets, creates meaningful synergy and performance improvement opportunities of $85 million by end of FY19, increases our paperboard consumption by approx. 225k tons, of which we expect 35% - 45% to be supplied by WestRock, replaces pulp production with SBS across the system, balances our Corrugated / Consumer sales mix and is expected to close in fiscal Q3 2017; that the acquisition will be immediately free cash flow and EPS accretive; that the acquisition offers attractive synergy opportunities and upside from commercial and cross-selling opportunities; that we expect FY17 Adjusted Free Cash Flow to be $1.2 billion; certain sequential benefits and negative sequential impacts on Q2 FY17 pretax earnings; scheduled maintenance downtime in FY17, and expected annual consumption volumes. Forward-looking statements are based on our current expectations, beliefs, plans or forecasts and are typically identified by words or phrases such as "may," "will," "could," "should," "would," "anticipate," "estimate," "expect," "project," "intend," "plan," "believe," "target," "prospects," "potential" and "forecast," and other words, terms and phrases of similar meaning. Forward-looking statements involve estimates, expectations, projections, goals, forecasts, assumptions, risks and uncertainties. We caution readers that a forward-looking statement is not a guarantee of future performance and that actual results could differ materially from those contained in the forward-looking statement. With respect to these statements, we have made assumptions regarding, among other things, the results and impacts of the merger of MeadWestvaco and RockTenn; the potential results and impacts of the proposed acquisition of Multi Packaging Solutions; economic, competitive and market conditions generally; volumes and price levels of purchases by customers; competitive conditions in our businesses and possible adverse actions of their customers, competitors and suppliers. Further, our businesses are subject to a number of general risks that would affect any such forward-looking statements including, among others, decreases in demand for their products; increases in energy, raw materials, shipping and capital equipment costs; reduced supplies of raw materials; fluctuations in selling prices and volumes; intense competition; the potential loss of certain customers; the scope, costs, timing and impact of any restructuring of our operations and corporate and tax structure; the occurrence of a natural disaster or other unanticipated problems such as labor difficulties, equipment failure or unscheduled maintenance and repair, which could result in operational disruptions of varied duration; our desire or ability to continue to repurchase company stock; and adverse changes in general market and industry conditions. Such risks and other factors that may impact management's assumptions are more particularly described in our filings with the Securities and Exchange Commission, including in Item 1A under the caption "Risk Factors" in our Annual Report on Form 10-K for the fiscal year ended September 30, 2016 and our Form 10-Q for the quarterly period ending December 31, 2016. The information contained herein speaks as of the date hereof and WestRock does not have or undertake any obligation to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise. 2 WestRock

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