Mondi Mergers and Acquisitions Presentation Deck

SUPERIOR ACCESS TO LOW-COST WOOD Strong market position + Strong asset base 21 23 Russia Average Hardwood and Softwood Costs (€/m³, Q4 2006) 24 29 Brazil Australia South Africa 30 31 Chile Poland 37 Note: The numbers are based on Pöyry Forest Industry Consulting's Q4 2006 wood cost comparison. Source: Pöyry Forest Industry Consulting Portugal 40 Finland 41 48 France Sweden mondi 35% of Mondi's wood consumption from Russia and South Africa ~ Russian and South African costs are largely under our own control. Therefore, future wood costs largely depend on efficiency of our own operations PAGE 9

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