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Investor Presentaiton

PROVEN TRACK RECORD OF GROWTH ($ IN BILLIONS EXCEPT EPS) FY16 FY21 CAGR FY22E Net Sales (1) $14.2 $18.7 6% $20.0 to $21.0 Consolidated Adjusted $2.3 $3.0 6% $3.3 to $3.7 EBITDA (2) Consolidated Adjusted EBITDA Margin (1)(2) 16% 16% 16.5% to 17.5% RESILIENT BUSINESS MODEL ■ Broadest portfolio of paper and packaging solutions ■ Attractive margins. ■ Consistent cash flow Adjusted EPS(2) $2.52 $3.39 6% $4.00 to $5.10 ☐ Strong balance sheet Adjusted Free Cash Flow (2) $1.0 $1.5 8% >$1.3 Within Targeted Net Leverage Ratio (2) 2.2x 2.38x Range 1) 20 2) POSITIONED FOR CONTINUED SALES, EARNINGS AND FREE CASH FLOW GROWTH As reported: Including recycling sales in FY16. Non-GAAP Financial Measure. See Non-GAAP Financial Measures in the Appendix WestRock
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