Constantia Flexibles is a leading global manufacturer of flexible packaging. It has 53 production plants across 23 countries and over 10,000 employees. The company generates €1.9 billion in annual sales serving over 4,000 customers. It focuses on innovation and quality across its food, labels, and pharmaceutical divisions. Constantia aims for long-term growth through customer relationships, acquisitions, and operational excellence.

1. Constantia Flexibles
Company Presentation

2. Global production network: 53 plants in 23 countries
4 5
11 6 10
9 8
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3. Leading manufacturer of flexible packaging
Serves multinational corporations and
local market leaders
53 production plants in 23 countries
Headquartered in Vienna, Austria
Shareholders: Wendel Group (~61%),
H. Turnauer Stiftung (~27%)
Maxburg Capital Partners (~11%)
3 divisions
#2 in Europe, #4 globally
€1.9 bn in sales
140 sales countries
>10,000 employees*
~48% aluminum-based products
~44% film-based products
~8% paper-based products
>4,000 customers
3*incl. Afripack and Pemara

4. Sales by region and division 2015
Food;
57,2%
Labels;
28,3%
Pharma;
14,5%
Sales by region Sales by division
Labels
65,1%
26,4%
5,0%
3,5%
Europe
America
(USA/Mexiko)
Asia
Middle East/Africa
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5. Management Board
Dr. Gerold Riegler
(Chief Operating Officer)
Alexander Baumgartner
(Chief Executive Officer)
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6. Executive Committee – Executive Vice Presidents
Stefan Bogoll
(Food North America)
Stefan Grote
(Food Europe)
Friedrich Humer
(Food Emerging Markets)
Pierre-Henri Bruchon
(Pharma)
Mike Henry
(Labels)
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7. The 4 Ps of packaging – at the heart of our business
Promotion
 Promotional text
 Customer convenience
(microwave ability)
 Functionality (carrying, opening)
Preservation
 Ensures longer shelf life
 Barrier functions against
UV light, moisture,
oxygen, and seal integrity
 Hygiene standards
Protection
 Puncture resistance
 Burst strength
 Tamper evidence
Presentation
 Shape
 Portion size
 Essential information
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8. Kunden Wachstum
Mitarbeiter Gesellschaft
& Umwelt
We focus on innovation and
quality to make our customers
more successful
We have an international team
based on a corporate culture
of trust, excellence and
performance
We expand globally with our
customers and create value for
all stakeholders
We balance economic success
with environmental and social
responsibility
Customers Growth
Employees Society &
environment
Our core values
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9. Our customer benefits
Experienced people with passion
for packaging
Continuous innovation
Integrated production
Complete range of solutions
Unrivaled customer service
Global production network
Long-term partnerships with
customers
9

10. Food solutions
Lidding die cut
Lidding reel-fed
Confectionery foil
Confectionery
Snacks
Dried food laminates
Coffee laminates
Alu-container systems
Bags, Pouches, MAP,…
Dairy
Processed meat
Processed food
Confectionery film
Salted snack laminates
Sweet snack laminates
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11. Pharma and Home & Personal Care (HPC) solutions
Home &
Personal
Care (HPC)
Doypack foil
Coldform foil
Blister lidding foil
Strip pack & suppository foil
Sachet foil & laminate
Stick pack foil
HPC
Bag-on-Valve laminate
Wipe film
Sachet foilColdform foil
Blister lidding foil
Strip pack & suppository foil
Sachet foil & laminate
Stick pack foil
Pharma
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12. Labels solutions
Beer, Wine &
Spirits
Soft drinks &
Water
In-Mould-
labels
In-Mould decoration
In-Mould with functionality
Shrink sleeves
Aluminum lid labels for beverage
cans
Wrap around labels
Paper labels
Paper labels
Pressure sensitive labels
Aluminum foil bottle neck
12

13. For our customers we manage the following services
Improving
sustainability
performance
Logistics
Food & beverage
contact legislation
Packaging
trends
Packaging
engineering
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14. Long-term partnerships with customers
More than ten years relationship with the top 10 customers in all three divisions
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15. Integrated production
We manage the entire value chain – ensuring high quality, quick responses, reliability & flexibility
Raw material sourcing
and rolling
Lacquering /
Lamination /
Extrusion
Printing /
Cutting
Finishing /
Aftermarket
Service
 Strategic base material
supply within the group
 Distinctive know-how
 Selected specialty film
extrusion
 State-of-the-art aluminum
foil rolling facility
 Highly efficient
lacquering, coating and
lamination
 In-house lacquer
development
 UV flexo printing
including in-line coating
 Roto gravure printing
incl. in-line lamination
 Wide web conventional
flexo printing
 Offset printing for paper
and film
 Highly optimized die-
cutting and deep-drawing
facilities
 Bag & pouch making
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16. Quality and product safety
 All sites have implemented a Quality
Management System
 Specifically certified systems in dedicated
plants
 Full traceability of raw materials and
processes
 Raw materials only from approved suppliers
 Implemented risk management
 Fulfillment of legal requirements
 Well-equipped quality labs at our sites
 Full compliance with customer
specifications
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17. Continuous innovation through formal process
Customers
Technology-driven (push) innovation
80 R&D personnel Application engineers Product managers
Innovation throughout the product life cycle
Social macro trends (Sustainability, convenience, differentiation, high functionality, barrier protection)
Customer-driven (pull) innovation
Idea Feasibility study Product
development
Marketing &
performance analysis
“CF Customer Academy” for training clients’ staff in flexible packaging
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18. Modern Competence Centers for film, aluminum & polymer films
Weiden (Germany) Opening 2015 Mühlhofen (Austria) Opening 2012
 15 experts working on close to 100 projects every
year
 30 experts working on close to 100 projects every
year
 First technical contact to our suppliers to stimulate in-house developments
 In- and external consultant in the right raw material selection
 Analytical capabilities
 Lab equipment to produce small samples and mock-ups
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19. Innovative product samples
 New generation cup-lock system with
self-developed co-extrusion
 Increased production safety
 Cost reduction vs today’s standard
specification
 Sustainability support (e.g. 50%
aluminum reduction)
 Reliable protection against moisture
cross-diffusion
 Shelf life extensions
 Reliable system compatibility
 PVC-free structure
 High absorption capacity
 Recyclable pressure-sensitive label
alternative for PET bottles
 Cost-effective recycling solution
DieCut DryFoil SpearRC
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20. Innovative product examples – highlights 2015
Die-Cut Lidding
Seasonals-Foil
Alufoil-
Container
CONSTANTIA
DryFoil
CONSTANTIA
Safemax
CONSTANTIA
Blister Eco
Spear RC
Smart Bow
Thermowash
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21. Innovation awards
EAFA Alufoil Trophies (2012-2015) International awards in the last 5 years
More than
2014x
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22. Strong market position in attractive segments
~ 56% of sales in attractive markets, where Constantia commands a #1 or 2 position
Global #1
 Confectionery foil
 Die-cut lidding
 Alu-container systems
Global #2
 Reel-fed lidding
Global #2
 Blister lidding foils
 Coldform foils
Global #1
 Beer labels
 In-mould labels
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23. *Compound Annual Growth Rate
Success story of continuous growth
From a leading European supplier…
 Network of medium-sized companies
 Business focus on Europe
 Mainly export sales
 Supplier of packaging materials with focus on
aluminum
… to a global player
 A group with a mission and a clear strategy
 Realizing global growth opportunities
 Multi-domestic production
 Solution provider with comprehensive material
competence
Family owned / listed OEP
Wendel GroupSince March
2015 One of Europe’s leading
listed investment firms
Sales
€1.0bn
2005 2010 2015 E 2020
Growth through
M&A and
organic growth
€0.7bn
€1.9bn
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24. Growth development over the last 10 years
2005 2012 201320102007 2008 201120092006 2015*2014
745 766
1.029 1.026
977
1.047
1.213
1.314
1.634
1.712 1.870
105 108
143 139 136 158 170 188
234
256 263
2005 2012 201320102007 2008 201120092006 20152014
2005 2012 201320102007 2008 201120092006 20152014
13,9%14,1% 14.1% 13,9%13,5% 15,1% 14,9% 13,9%14,0% 14,3%14,3%
Sales (€ mn) and sales growth (%) Operative EBITDA (€ mn) and EBITDA growth (%)
EBITDA Margin (%)
*sales revenue 2015 adjusted by waste sales of € 29 million
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25. *Capital Expenditures
Total Investment 2011-2015: € 718 Mio.
 Extrusion facility in Austria
 Expansion of IML production in Belgium
 Gravure press in Turkey
 Duplex laminating line in Poland
 Narrow web-printing presses in America
Major CAPEX projects
 Asaş, Türkei (2011)
 Parikh, Indien (2013)
 Spear, USA (2013)
 Globalpack, Mexico (2013)
 Afripack, Africa (2015)
 Pemara, Southeast Asia (2015)
Major acquisitions
60%
40%Acquisitions Capex*
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26. Global trends drive demand for flexible packaging
Emerging
middle class
Urbanization
Premium
products
Health
Sustainability
Global trends Factors driving demands
 Demand for packed food with longer shelf lives
 From large to small families
 Purchase based on social demands
 Demand for premium and functional packaging
 Significance of marketing / branding
 Ageing society demands pharma products
 Health standards in emerging markets rise
 Smaller carbon footprint
 Reduction of material thickness, etc.
Packaged food
Premium brand packaging
Premium and convenient packaging
Pharma packaging
More environmentally friendly
packaging
Flexible packaging solutions
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27. Our strategy for long-term profitable growth
Strong relationships with international corporations
Targeted acquisitions in growth sectors and regions
Established technological know-how
Efficient production sites and processes


Strengthening customer relations with multinational companies
Consolidation and extension of European market leadership
Realizing selected growth opportunities in North America
Expansion in the fastest-growing emerging markets
Maximization of Group synergy and optimization of operational performance
Strong foundation gives us competitive advantage


27

28. Sustainability
“Sustainability means balancing economic success with environmental
and social responsibility. This strategy ensures long-term success.”
Alexander Baumgartner, Chief Executive Officer
Integrating
the whole
Supply
Chain
Product &
Process
Sustain-
ability
By 2015 Constantia Flexibles
already achieved 45% of its goal to
reduce CO2* emissions by 40%
from 2005 to 2023.
100%
82%
Reduction of
about 18%
2005 2015
Progress in reduction of CO2-
emissions per produced m²
Corporate carbon footprint goal
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29. 29
Our sustainability policy focuses on our responsibility to the
environment and our neighbors
 Systematic risk management
 Compliance guidelines
 Comprehensive quality
management
 Environmentally friendly and
resource-sparing production
technology, materials and
ingredients
 Ethical sourcing (member of
SEDEX)
 Reduction of environmental
pollution, waste & greenhouse
gases
 Extensive measures to protect
human rights
 Zero tolerance of discrimination
against employees
 Social outreach project for
disadvantaged groups
 Group Social Award for
outstanding achievement
Economic responsibility Social responsibilityEnvironmental responsibility

30.  Enables companies to
– Quickly determine their supply chain footprint
– Encourage and support suppliers to measure and
manage material business issues
– Communicate with them on their performance over
time
– Drive long shared value for the business
Transparency along the entire supply chain
 Aims at improving and social practices by leveraging
the influence of global supply chains
 Two objectives of EcoVadis:
‒ Improve performance combining innovative
information technologies with shared service
expertise on sustainable procurement
‒ Reduce costs associated with suppliers’ CSR
performance monitoring
Full disclosure of our CSR KPIs at selected platforms for our stakeholders
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31. Our ethical principles
 Non-profit member platform dedicated to improving
ethical supply standards along the value chain
 SEDEX focuses on 4 areas
– Labor standards
– Health & safety
– Environment
– Business integrity
 Tools for exchanging information include standardized
questionnaires and audits (SMETA = Sedex Members
Ethical Trade Audit)
 Non-profit initiative to foster greater sustainability and
transparency throughout our industry
 ASI tries to mobilize a broad base of stakeholders to
establish and promote responsible leading practices
– Across the aluminum value chain
– In business ethics
– In environmental and social performance
Endorsing SEDEX’ ethical standards Part of Aluminum Stewardship Initiative (ASI)
Bauxite
mining
Refining Aluminum
smelting
Further
processing
Recycling
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32. The Group Social Award
We are committed to integrating social activities at all our site
We encourage our employees to support social projects, especially in Constantia’s immediate neighborhoods and
annually award the best projects.
Restoration of Elementary School
in Guanos, Mexico
Collaborative art book of mentally
disturbed people in the US
Free employee counseling in private
or professional problems in Austria
Cooking for the homeless at
VinziRast house in Vienna, Austria
Internships for young people with
disabilities in Poland
Help for schools and kindergartens
in Poland
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33. *Full Time Equivalent (FTE)
**excl. Afripack and Pemara
Number of employees by region*
2014 2015
Europa Amerika Nahost/Afrika Asien
2,821
8,564**
+ 6 %
Approx. 7,000 in
production
8,079
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34. Experienced people with passion for packaging
 Work beyond country borders
 Foster proximity and openness
 Encourage international
transfers
 Collaboration to culture and
respect
 Hiring the best candidates
through structured processes
 Develop employees’ skills and
performance based on three
core competencies: Driving
customer value, fostering
collaboration, passion for results
 Strategic talent management
 Design our reward and
compensation system in order
to:
– Foster motivation and
competitiveness
– Increase performance-
orientation
An attractive employer with a corporate culture focused on employee development
Culture & respect Learning & development Rewards & fringe benefits
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35. Our employees live operational excellence
 Operational Excellence is a culture of
– Leadership
– Teamwork
– Problem solving
 resulting in continuous improvement throughout the
organization
 Focus areas:
– Optimizing all processes and systems to deliver
value efficiently to the customers (with Lean
SixSigma* methods)
– Empowering all employees to improve their
processes and systems themselves
– Learning with and from each other and sharing
knowledge
We create value for our customers
**
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36. 36
PEOPLE.
PASSION.
PACKAGING.