TRANSFORMED PORTFOLIO TOWARDS ACTIVITIES WITH FAVOURABLE LONG-TERM OUTLOOK

tc. 2017-2023 PERFORMANCE HIGHLIGHTS (in millions of $) ■Packaging Revenues 3,039 Printing 2,956 2,941 Other 2,624 2,574 2,643 405 2,007 EBITDA 537 512 458 451 449 400 2017 2018 2019 2020 2021 2022 2023 2017 2018 2019 2020 2021 2022 2023 Adjusted EBITDA1 Consolidated Cash Flow from Operating Activities 499 476 459 465 472 447 447 432 427 397 2017 2018 2019 2020 2021 2022 2023 324 313 ill 315 221 2017 2018 2019 2020 2021 2022 2023 ~$2.5B cash flows from operating activities generated since FY2017 (average of $358M/year) 1 Non-IFRS financial measure. 8tc ● TRANSCONTINENTAL

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