Investor Presentation

The Envelope Segment - Overview The company utilizes an industry leading equipment base and platform to manufacture a broad range of stock and custom envelopes. "Everything in the letter carrier's bag." LTM Revenue as at March 31, 2023 $220M 74.0% 2019-2023 Revenue 157 147 137 200 • 220 ■ Envelope ■ Packaging 2019 2020 2021 2022 LTM Q1-23 . Key Points Optimal geographical network Leading player in Canada with market share of approx. 85% (1) • #2 in size in North America (1) • Broad product offering . Strong customer base Strong EBITDA & cash flow generation • Utilize Canadian expertise and know-how to support the growth in the U.S. (1) Based on Management estimates 14

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