Investor Presentation

Track Record of Effective Capital Deployment Capital allocated since July 2015 M&A Acquisitions: ⚫ SP Fiber Cenveo Packaging • Star Pizza • MPS • • $5.9 billion Island Container Hannapak Plymouth Packaging Schlüter Print Pharma Dividends ($ per share) $1.50 U.S. Corrugated JV with Grupo Gondi Divestitures: • KapStone L&D monetization HH&B . ArborGen JV $0.9 Billion Base Capital (Maintenance & Return Generating) FY19 CAPEX Capital Investments 22 32 $1.6 billion 1C $1.82 $1.72 $1.60 21% Higher $11.9 Florence, SC Porto Feliz & Tres Barras Mahrt, AL & Covington, VA billion FY16 FY17 FY18 FY19E $328 $335 $195 11.1 $93 $89 $500 Million Strategic Capital $3.4 billion FY15 FY16 ($ in millions) FY17 FY18 FY19 YTD Repurchases $1.0 billion Note: Capital allocated since July 2015, excludes RKT-MWV merger-related share repurchases of $668 million, includes KapStone transaction and excludes acquisition-related debt. WestRock

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