Positioned for Continued Growth

2021 ADJUSTED EBITDA AND CASH FLOW GUIDANCE REITERATED FULL-YEAR EBITDA GUIDANCE REITERATED DRIVEN BY EXPECTED 2H RESULTS; MULTIPLE PRICE INITIATIVES, STRONG ORGANIC SALES GROWTH, PRODUCTIVITY IMPROVEMENTS & FAVORABLE FX OFFSETING COMMODITY INPUT COST INFLATION & URI STORM COSTS Adjusted EBITDA $1,090M - $1,150M(1) EBITDA Components Volume/Mix Cash Flow $175M - $250M Cash Flow Components $20M - $40M Cap Ex $70M - $90M Interest ($60M - $50M) Tax $5M -$15M Working Capital Price to Commodity Input Cost Spread ($30M - $10M) Pension(4) Net Performance L&B / Other(2) FX(3) ($710M $690M) ($130M $120M) ($45M - $35M) ($30M - $10M) ($20M - $10M) (1) Excludes announced acquisition of Americraft Carton, Inc. (2) Other inflation is primarily related to property insurance (3) FX range at current rates Capital Investments ($M) - step down after 2020-2021 Return to Substantial Cash Flow in 2022 $ 353 $ 646 $ -700 $ -400 2019 2020 2021 2022 (4) Excludes $13.8M amount reflected as a contribution which effectively transferred a portion of the excess balance in the terminated US DB Plan. Consistent with Vision 2025, normalized capex target (% of sales) of ~5% Graphic Packaging INTERNATIONAL ©2021 Graphic Packaging International 45

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