Building on our portfolio of sustainable packaging Andrew King 6 November 2019 ForwardMondi: -Forwardlooking statements-looking statements disclaimer disclaimer This document includes forward-looking statements. All statements other than statements of historical facts included herein, including, without limitation, those regarding Mondi’s financial position, business strategy, market growth Thisand developments,document includes expectations forward- lookingof growth statements. and profitability All statements and plans other and thanobjectives statements of management of historical for facts future included operations, herein, are inc forluding,ward -withoutlooking limitation,statements. those Forward regarding-looking Mondi’s statements financial are position, sometimes business identified strategy, by the market use of growthforward and- developments, expectationslooking terminology of growth such and as profitability ‘believe’, ‘expects’, and plans ‘may’, and objectives ‘will’, ‘could’, of management‘should’, ‘shall’, for ‘risk’, future ‘intends’, operations, ‘estimates’, are forward ‘aims’,-looking ‘plans’, state ‘predicts’,ments. Forward‘continues’,-looking ‘assumes’, statements ‘positioned’ are sometimes or ‘anticipates’ identified or theby thenegative use of thereof, forward other-looking variations terminology such as “believe”, “expects”,thereon or “may”,comparable “will”, “could”,terminology. “should”, Such “shall”, forward “risk”,-looking “intends”, statements “estimates”, involve “aims”, known “plans”,and unknown “predicts”, risks, “continues uncertainties”, “assumes”, and other “positioned” factors which or may“anticipates” cause the or actualthe negative results, thereof, performance other variationsor achievements thereon of or Mondi, comparable or industry terminology. results, Such forward-looking statementsto be materially involve different known from and any unknown future risks,results, uncertainties performance and or otherachievements factors which expressed may cause or implied the actual by such results, forward performance-looking sta otements.r achievements Such forward of Mondi,-looking or industry statements results, and to otherbe materially statements different contained from anyin this future document results, regarding performance or achievements matters that are not historical facts involve predictions and are based on numerous assumptions regarding Mondi’s present and future business strategies and the environment in which Mondi will operate in the future. These expressedforward-looking or implied statements by such speak forward only-looking as of the statements. date on which Such they forward are -made.looking statements and other statements contained in this document regarding matters that are not historical facts involve predictions and are based on numerous assumptions regarding Mondi’s present and future business strategies and the environment in which Mondi will operate in the future. These forward-looking statements speak only as of the date on which they are made. No assurance can be given that such future results will be achieved; various factors could cause actual future results, performance or events to differ materially from those described in these statements. Such factors include in particular but without any particular but without any limitation: (1) operating factors, such as continued success of manufacturing activities and the achievement of efficiencies therein, continued success of product development plans and targets, changes in limitation: (1) operating factors, such as continued success of manufacturing activities and the achievement of efficiencies therein, continued success of product development plans and targets, changes in the degree of protection created by Mondi’s the degree of protection created by Mondi’s patents and other intellectual property rights and the availability of capital on acceptable terms; (2) industry conditions, such as strength of product demand, intensity of competition, patentsprevailing and and other future intellectual global market property prices rights for and Mondi’s the availability products and of capital raw materials on acceptable and the terms; pricing (2) pressures industry conditions,thereto, financia such las condition strength of of the product customers, demand, suppliers intensity and of the competition, competitors prevailing of Mondi and and future potential global introduction market prices of competing for Mondi’s products and raw materialsproducts andand technologiesthe pricing pressures by competitors; thereto, and financial (3) general condition economic of the customers,conditions, supplierssuch as rates and theof economic competitors growth of Mondi in Mondi’s and po prtentialincipal introduction geographical of marketscompeting or productsfluctuations and of technologies exchange rates by competitors; and interest andrates. (3) general economic conditions, such as rates of economic growth in Mondi’s principal geographical markets or fluctuations of exchange rates and interest rates. Mondi expressly expressly disclaims disclaims a) any warranty or liability as to accuracy or completeness of the information provided herein; and a) any warranty or liability as to accuracy or completeness of the information provided herein; and b) any obligation or undertaking to review or confirm analysts’ expectations or estimates or to update any forward-looking statements to reflect any change in Mondi’s expectations b) anyor obligation any events or thatundertaking occur or tocircumstances review or confirm that arise analysts’ after expectations the date of making or estimates any forward or to update-looking any statements, forward-looking statements to reflect any change in Mondi’s expectations or any events that occur or circumstances that arise after the date of making any forward-looking statements, unless required to do so by applicable law or any regulatory body applicable to Mondi, including the JSE Limited and the LSE. unless required to do so by applicable law or any regulatory body applicable to Mondi, including the JSE Limited and the LSE. 2 Purpose of today ● An update of our strategy ● Mondi’s opportunity to leverage our unique position and build on our portfolio of sustainable packaging solutions: Paper where possible, plastic when useful ● Tour of our world-class manufacturing site 3 Focus for today’s presentations Corrugated Packaging Flexible Packaging Engineered Materials Uncoated Fine Paper Containerboard Kraft paper Personal care components (unchanged) Corrugated solutions1 Paper bags2 Extrusion solutions4 Consumer flexibles3 Release liner 1. Previously corrugated packaging 2. Previously industrial bags 3. Previously consumer goods packaging 4 4. Previously technical films and extrusion coatings Agenda for today 09:30 - 10:10 Introduction, update on our strategic framework and Q&A 10:10 - 10:30 Flexible Packaging 10:30 - 10:50 Sustainable packaging solutions 10:50 - 11:10 Štětí site overview 11:10 - 11:45 Wrap-up and Q&A 11:45 - 12:30 Lunch 12:30 - 15:30 Site visit preparation and tour 15:30 - 16:00 Tea & coffee break 16:00 Leave for airport 5 Speakers today Peter Oswald Andrew King Group CEO Group CFO Alessandro Dazza Elisabeth Schwaiger Graeme Smith Roman Senecký Patrick Maurer Flexible Packaging and Head of R&D for Head of product sustainability Štětí mill MD Štětí paper bag plant MD Engineered Materials CEO packaging paper for Flexible Packaging and Engineered Materials 6 Introduction and update on our strategic framework Peter Oswald 6 November 2019 Delivering an industry leading performance Underlying EBITDA and margin Cash flow generation1 € million and % € million 2,000 23.6% 25% 1,600 1,600 20% 1,200 € million) € 1,200 13.9% 15% 800 800 10% 400 Underlying EBITDA ( EBITDA Underlying 400 5% (%) margin EBITDA Underlying 0 0% 0 2007 2018 2007 2018 Underlying EBITDA Underlying EBITDA margin 1. Cash flow generation based on net cash generated before capital expenditure, acquisitions and disposals of businesses, investment in equity accounted investees and payment of dividends to shareholders 8 TSR 14% Delivering strong returns to shareholders Underlying EPS 14% DPS 11% Underlying EPS and dividend per share Mondi plc total shareholder return vs benchmarks € cents per share Cumulative return since listing in % 200 189.1 140 600 550 120 500 150 450 100 400 80 350 100 300 60 250 Underlying EPS Underlying Dividend share per Dividend 200 46.9 40 50 150 100 20 50 0 0 0 2007 2018 -50 Ordinary DPS Special DPS Underlying EPS 2007 2013 2019 -100 Mondi plc Bloomberg EMEA Forest Products & Paper Index Note: EPS and DPS CAGR from 2007 to 2018. TSR CAGR from listing (2 July 2007) until 31 October 2019 9 Source: Bloomberg (in GBP) and Mondi FTSE 100 Bloomberg EMEA Packaging & Containers Index Strategy driving industry leading performance 10 Investing in digital technologies as an accelerator Degree of Digital operations digitisation / disruption and production • Early stages of digital journey – starting to move Media Drive operational efficiency through into a shaping phase Tourism advanced analytics, automation and • Between 40,000 and 60,000 robotics sensors installed in a pulp Banking and paper mill Telecoms Packaging and paper Digital customer Automotive High tech & assembly experience Packaging and paper Enhance the digital customer Oil and gas Chemicals experience (e.g. zero touch, data-driven forecasts, myMondi) Digitally nascent Emerging New normal Co-creation with customers ● A core central digital transformation