Investor Presentaiton

Q1 FY22 FREE CASH FLOW ■ Q1 Adjusted Free Cash Flow of $84 million(1) ■ Year-Over-Year comparison was negatively impacted by: - - Payment of short-term incentive compensation in cash vs. stock Short-term compensation higher following strong FY21 - 401K match returned to cash payments in FY22 - First payment of the deferred payroll tax associated with the CARES Act Expect FY22 to be 7th consecutive year of Adjusted Free Cash Flow greater than $1 billion (1) CONTINUE TO EXPECT STRONG CASH FLOWS IN FY22 16 1) Non-GAAP Financial Measure. See Non-GAAP Financial Measures in the Appendix. WestRock

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