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Investor Presentaiton

Q2 FY16 Adjusted Segment Sales, Adjusted EBITDA and Adjusted EBITDA Margin Q2 FY16 ($ in millions, except percentages) Corrugated Packaging Consumer Packaging Land and Development Non-Allocated / Eliminations Consolidated Segment Net Sales Less: Trade Sales Adjusted Segment Sales $ 1,932.8 $ 1,588.4 $ 18.7 (47.2) 3,492.7 (67.4) (67.4) $ 1,865.4 $ 1,588.4 $ 18.7 $ (47.2) $ 3,425.3 Segment Income (Loss) and Non-allocated Expenses $ 175.0 $ 99.7 $ (4.0) $ (9.2) $ 261.5 Depreciation and Amortization 140.8 122.6 0.2 4.7 268.3 Less: Deferred Financing Costs (1.1) (1.1) Segment EBITDA 315.8 222.3 (3.8) (5.6) 528.7 Plus: Inventory Step-up 1.8 1.8 Adjusted Segment EBITDA and Non-allocated Expenses $ 315.8 $ 224.1 $ (3.8) $ (5.6) $ 530.5 Segment EBITDA Margins Adjusted Segment EBITDA Margins 32 32 16.3% 14.0% 16.9% 14.1% WestRock
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