Investor Presentaiton

23 ADJUSTED FREE CASH FLOW ADJUSTED FREE CASH FLOW(1) ($ IN BILLIONS) $1.0 $1.2 $1.5 $1.2 $1.0 STRONG FREE CASH FLOW $1.5 >$1.3 ■ FY22 Adjusted Free Cash Flow expected to be >$1.3 billion(1) FY22 expected to be 7th straight year with Adjusted Free Cash Flow above $1 billion(1) ■ Strong balance sheet with leverage within target of 2.25x to 2.50x FY16 FY17 FY18 FY19 FY20 FY21 FY22E 1) Non-GAAP Financial Measure. See Non-GAAP Financial Measures in the Appendix. WestRock

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