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Investor Presentation

Q1 Supplemental Information - Segmentation Selected Consolidated Financial Information (In thousands of dollars, except for margins) Three-month periods ended March 31 2023 2022 Segmented Revenue Envelope Packaging & specialty products Total revenue Segmented Adjusted EBITDA (1) Envelope % of segmented revenue Packaging & specialty products % of segmented revenue Corporate and unallocated costs 64,455 44,639 23,967 18,630 88,422 63,269 17,268 9,981 26.8% 22.4% 3,849 4,188 16.1% 22.5% (2,276) (2,086) Total Adjusted EBITDA (1) 18,841 12,083 Total Adjusted EBITDA margin %(1) 21.3% 19.1% Net Earnings 9,497 6,302 Net Earnings margin % 10.7% 10.0% (1) This is a non-IFRS financial measure or ratio. Non-IFRS financial measures do not have any standardized meaning prescribed by IFRS and therefore may not be comparable to similar measures presented by other companies. Refer to the Non-IFRS Financial Measures section at the end of this presentation for further details. 48
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