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Redefining Packaging for a Changing World Sustainability Report 2021 Contents DS Smith at a glance 1 2020/21 Highlights Our Purpose Redefining Packaging for a Changing World 2 Led by our Purpose – Redefining Packaging for a Changing World Our vision 4 Redefining packaging during the To be the leading supplier of sustainable packaging solutions Covid-19 global pandemic 6 Introduction from Miles Roberts, our Our Values Group Chief Executive We have a clear set of values that we expect all our employees to own and live by 7 Q&A with Adrian Marsh, our Group Be caring Be trusted Finance Director We take pride in what we do and We can always be trusted 8 Leadership in a Changing World – we care about our customers, our to deliver our promises Activating the circular economy people and the world around us 10 Circular business – Circulating fibre Be responsive around our business Be challenging We seek new ideas and We are not afraid to 12 Partnering with the world’s leading understanding and are constructively challenge each authority on the circular economy quick to react to other and ourselves to find a opportunities 16 Now and Next sustainability strategy better way forward 18 Now and Next progress Be tenacious 20 Closing the loop through better We get things done design 24 Reducing waste and pollution 28 Equipping people to lead the transition to a circular economy Our strategic goals 30 Protecting natural resources To delight To realise the potential 32 Driving carbon reduction our customers of our people 34 Managing water responsibly 36 Sending zero waste to landfill To lead the way To double our size 38 Sourcing sustainably in sustainability and profitability 40 Contributing to our communities 42 Caring for our people 46 Conducting business ethically Where we operate and responsibly Our corrugated packaging business All of our sites are now integrated in 47 Upholding our high standards operates in four geographic our Group-wide global sustainability 47 Using chemicals safely segments, three in Europe and one programme and all of our recent 48 Adapting to a changing climate (TCFD) in North America. Recycling and acquisitions are included in figures 52 Our basis for sustainability reporting Paper form an integrated part of reported for this year. 53 Performance overview our operations. 54 Environmental indicators 56 Social indicators 57 Miscellaneous indicators 58 Stakeholder engagement 60 Governance 62 GRI and SDG Index 63 SASB Index Learn more about our Now and Next sustainability strategy at www.dssmith.com/sustainability/ sustainability-strategy Northern Europe Southern Europe Eastern Europe North America 2020/21 Highlights 100% of our designers trained on our Circular Design Principles Turn to page 21 -5% 57 reduction in water abstraction per biodiversity projects launched in tonne of like-for-like paper our local communities production versus last year Turn to page 40 Turn to page 35 -4% Our strategic goals reduction in CO2e per tonne of production versus last year Turn to page 33 -32% reduction in waste to landfill per -14% -23% tonne of like-for-like paper production versus last year reduction in Lost Time Accidents reduction in CO2e per tonne of versus last year production versus 2015 Turn to page 37 Turn to page 43 Turn to page 33 37.5% female representation on AA A- Plc Board MSCI score improved Circulytics score improved Turn to page 44 compared to A last year compared to B+ last year Turn to page 7 Turn to page 13 Please note: Some of the images in this report were taken before the Covid-19 pandemic and the need for social distancing. Sustainability Report 2021 dssmith.com/sustainability 1 LED BY OUR PURPOSE Redefining Packaging for a Changing World Our Purpose is ‘Redefining Packaging for a Changing World’. It’s our reason for being. It’s why we exist. It captures the value we bring to all our stakeholders and the wider world. We keep an eye on the future and recognise the changing world in which we operate. Towns, cities and entire populations are rapidly transforming. The growth in digital technology is revolutionising the way we shop, live and work. We increasingly expect to purchase products tailored for us, whenever we want them, delivered in a way that fits our busy lifestyles. We want more choice and convenience, but with less impact on the world around us. We are different because we see the opportunity for packaging to play a powerful role in the world around us. We help our customers respond to changing shopping habits with sustainable packaging solutions that our society needs. Sustainability and the circular economy sit at the heart of our business and are core to our Purpose. As the pace of change in the world accelerates and consumers demand more of the products and services they buy, there is in parallel an expectation that organisations of all kinds must radically reduce their impact on the natural world. And, wherever possible, create a positive impact for people and planet. This presents huge opportunities for all of us, but also requires new ways of thinking. How do we deliver more products, without more vehicles making our cities more congested? How do we deliver more to people’s homes, without filling them with excess packaging? How can companies adapt to changing shopping habits, while running their operations smoothly and efficiently? How can we make products available across borders, while ensuring consistency everywhere, every time? There’s a need for a new approach to packaging. And a need for strong leadership in our industry. This is what drives us and why we have a shared purpose of Redefining Packaging for a Changing World. Circular products are core to our Purpose and therefore constitute the vast majority of our revenues. In 2020/21 £5,928m of our revenues were associated with products which are recyclable or reusable1. We have again been awarded the LSE Green Economy Mark, recognising that we derive substantial revenues from environmental solutions. 1. Aligned to the SASB RT-CP-401a.2. metric – refer to p. 63 Learn more about our Purpose 2 We’re working hard to accelerate the transition to a circular economy. Circularity is built into everything we do, and we are already taking a leading role in our industry, including in our partnership with the Ellen MacArthur Foundation We are a leading international packaging company, specialising in corrugated circular solutions We are Europe’s largest cardboard and paper recycler, managing c. 6 million tonnes of waste material every year, which is more than we need to produce the packaging we sell We operate a circular business model, supporting our customers to close the loop over the entire life cycle We are committed to using only 100 per cent recycled and chain of custody certified papers to protect our natural resources We are one of only 19 Strategic Partners of the Ellen MacArthur Foundation – the recognised global authority on the circular economy Sustainability Report 2021 dssmith.com/sustainability 3 REDEFINING PACKAGING FOR A CHANGING WORLD Redefining packaging during the Covid-19 global pandemic Keeping our people safe and our business running Over the past year, the global Covid-19 pandemic has reshaped many of our lives in ways in which we never previously thought possible. Throughout the pandemic, we collectively worked ”I am immensely proud of the together to remain steadfast in these challenging times. Our number one priority has been to protect the health and safety of way we have responded to our people, whilst continuing to service the needs of our customers, given the critical role we and the wider packaging the outbreak of Covid-19. industry play across global, national and regional supply chains. Not only is our packaging used to transport and protect food and We pulled together to personal care items and to deliver goods to peoples’ homes support each other, through e-commerce, we also serve the vitally important pharmaceutical sector. It is the continued production of paper strengthening our focus on and packaging that has allowed these goods to get to where they are most needed and that is why our teams continue to go to health, safety and wellbeing work every day to support our customers’ businesses. whilst ensuring that we continued to serve our As the world around us rapidly changed, we customers. This is a adapted our business and our offering with it • We developed essential provisions boxes to support testament to the values people living in lockdown • We supported the delivery of the first Covid-19 vaccine we have embedded across safely and securely the business.” • We partnered with Touchguard to develop virus- resistant surface coatings Miles Roberts • We manufactured cardboard furniture solutions for Group Chief Executive hospitals and home offices • We supported the community, through donations and over half a million items to help people in need CASE STUDY Adopting new ways of working As a critical part of the supply chain, we had to work hard to quickly ensure that we continued to operate efficiently and safely from the beginning of the coronavirus outbreak. Our top priority is the health of our employees and a new series of measures, including strict cleaning procedures, has been adopted at all our sites to protect our people. In Iberia, Dueñas paper mill installed glass walls between the offices in the stock preparation control room and reception to ensure social distancing. The mill also sealed the floor with safety floor tape, to remind everyone to maintain required social distancing. Meanwhile at Alcolea paper mill, a shoe disinfector was installed to reduce the risk of contamination. 4 CASE STUDY Delivering the first vaccine in the UK ”From the beginning of the We played a role in the delivery of the first Covid-19 pandemic, we have been vaccine, with thousands of our boxes travelling across the United Kingdom, ensuring the safe delivery of the vaccine reminded of our key worker to hospitals and clinics.

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