Mondi Credit Presentation Deck

Interest and net debt € million Net debt Average net debt Net interest expense Effective interest rate Committed facilities Of which undrawn Net (bank overdraft) / cash position Net debt/12-month trailing underlying EBITDA (times) Currency split of net debt (€2,207 million) % 25 3% 3% 4% 4% 16% 12% 17% 41% 2019 2,207 2,243 95 4.2% 2,476 660 (7) 1.3 Euro Polish zloty Russian rouble US dollar Turkish lira Czech koruna 2018 2,220 1,979 83 4.2% 2,487 616 8 1.3 ■SA rand ■ Other % change (1)% 13% 14% • Net debt down €13 million reflecting strong cash generating capacity despite ongoing capital expenditure programme • Cash generated from operations of €1,635 million (2018: €1,654 million), reflects the continued strong cash generating capability of the Group • Investment grade credit ratings o Moody's Investors Service rating maintained at Baa1 (stable outlook) Standard & Poor's rating maintained at BBB+ (stable outlook) STRONG, STABLE FINANCIAL POSITION PROVIDES FLEXIBILITY AND UNDERPINS STRONG CREDIT RATINGS mondi

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