Mondi Group presentation August 2017

Mondi
Group presentation
Status: August 2017

Group presentation 2August 2017
Mondi at a glance
IN TOUCH EVERY DAY
Our products touch millions
of lives, every day.
International
packaging and paper
group, employing
around 25,000 people.
Over 100
operations
across more than
30 countries.
Primary listing on
the JSE Limited for
Mondi Limited.
Premium listing on the
London Stock
Exchange for Mondi plc.

International.
Every day.
We act locally.
At around 100 sites.
Worldwide.

Our Group consists of 4 business units which produce over 100 products
customised into more than 100,000 solutions.
Our key operations are located in central Europe, Russia, North America and
South Africa.
Mondi Group
Containerboard
Packaging Paper
Sack Kraft Paper
Speciality Kraft
Paper
Fibre Packaging
Corrugated
Packaging
Industrial Bags
Extrusion Coatings
Consumer
Packaging
Uncoated Fine
Paper
Personal Care
Components
Consumer Goods
Packaging
Technical Films
Release Liner
* As of 1 October 2017
*

Mondi network
Mondi operates locally with more than 100 operations across more than
30 countries.
Europe North America
Asia
Europe
Africa

Our history – key developments
1967: Founding of Mondi
Completion of a €770 million investment for major
strategic capital projects
New lightweight recycled containerboard machine
and corrugated box plant, Świecie, Poland
Over 90% ownership Syktyvkar mill, Russia
Majority ownership Świecie mill, Poland
1881
Founding of Frantschach pulp and paper mill, Austria
Acquisition of Pine Bluff kraft paper mill and
9 industrial bags plants, USA
Syktyvkar mill extension and modernisation, Russia
Demerger of Mondi Packaging South Africa
Demerger of the Mondi Group from Anglo American plc
Acquisition of majority stake in Tire Kutsan, Turkey
Acquisitions:
 Majority Frantschach mill, Austria
 50% Ružomberok UFP and pulp mill, Slovakia
 Kraft paper, industrial bags and extrusion coatings
businesses of AssiDomän
1793
Founding of the Neusiedler paper mill, Austria
2013–2016
2012
2009
2002
1997
2014
2010–2011
2007
2000
Acquisitions:
 Ascania (nonwoven hygiene components), Germany
 KSP (consumer goods packaging), South Korea and
Thailand
2015
Acquisitions:
 Uralplastic, Russia, and Kalenobel, Turkey (flexible
consumer packaging)
 SIMET, Poland, and Lebedyan, Russia
(corrugated packaging)
 Approval of €310 million kraft top white containerboard
machine, Ružomberok, Slovakia
2016
Acquisition of Excelsior Technologies, UK
Approval of €470 million Štětí mill modernisation and
expansion, Czech Republic
2017
Acquisitions:
 Nordenia (consumer packaging), Europe and USA
 Duropack operations, Germany and Czech Republic
 Świecie minorities, Poland

The Mondi Way
Purpose
Strategy
Operating Framework
Culture & Values
We delight you with innovative and sustainable
packaging and paper solutions. Every day.
To deliver sustainable value by providing high-quality
packaging and paper solutions through:
● Driving performance
● Investing in our high-quality, low-cost assets
● Innovating through customer partnerships
● Growing responsibly and inspiring our people
The Mondi Diamond
● Operational Excellence
● Successful Customers
● Sustainable Development
● Cutting-edge
Solutions
● Inspired People
We are dynamic, entrepreneurial and empowered
● Passion for performance
We are respectful and responsible
● Caring
We encourage honesty and transparency
● Acting with integrity

The Mondi Diamond
● Target zero harm through an
uncompromising commitment to
safety and promote a healthy work
environment
● Manage our resources responsibly,
reduce environmental impacts,
and enhance social value
Sustainable Development
● Listen to our customers and work
in partnership to create innovative,
high-quality and sustainable solutions
● Collaborative across our businesses,
leveraging our global network and
expertise to create value for our
customers
Cutting-edge Solutions
● Continuously improve our processes
to optimise costs, productivity,
efficiency and margins
● Deliver on quality and service
expectations
Operational Excellence
● Understanding market and customer
needs to develop long-term
partnerships
● Offer exceptional value with products
and services that our customers
recognise as top quality
Successful Customers
● Embrace diversity and employee
integration, valuing our differences
and respecting each other
● Create a collaborative, inspiring work
environment and enable our people
by offering a wide range of learning
experiences
Inspired People

Performance driven.
Every day.
We’re passionate about
performance.
It’s in our DNA.

In 2016, Mondi had revenues of €6.7 billion and a ROCE of 20.3%. Mondi has a
dual-listed company structure, with a primary listing on the JSE Limited for Mondi
Limited and a premium listing on the London Stock Exchange for Mondi plc.
Mondi Group – key figures
1 The Group presents underlying EBITDA and operating profit as measures which exclude special items in order to provide a more effective
comparison of the underlying financial performance of the Group.
2 ROCE is underlying profit expressed as a percentage of the average capital employed for the year, adjusted for impairments and spend on strategic
projects which are not yet in operation.
Mondi Group HY 1/2017 HY 1/2016 2016
Revenue €3,582m €3,312m €6,662m
Underlying EBITDA1
€710m €714m €1,366m
Underlying operating profit1
€497m €529m €981m
ROCE2
18.7% 21.2% 20.3%

Mondi Group – key figures
1 South Africa is currently a separately reported segment, but will be merged partly with Packaging Paper and partly with Uncoated Fine Paper from 1 October 2017.
Mondi Group HY 1/2017 HY 1/2016 2016
Revenue
Packaging Paper €1,113m €1,045m €2,056m
Fibre Packaging €1,031m €968m €1,929m
Consumer Packaging €839m €765m €1,562m
Uncoated Fine Paper €679m €625m €1,246m
South Africa1 €337m €290m €594m
Underlying operating profit2
Packaging Paper €207m €192m €361m
Fibre Packaging €60m €59m €123m
Consumer Packaging €63m €64m €121m
Uncoated Fine Paper €135m €133m €264m
South Africa €55m €98m €147m
2 The Group presents the underlying operating profit as a measure which excludes special items in order to provide a more effective comparison of the underlying financial
performance of the Group.

Production statistics 2016
Containerboard
2,253 k tonnes
Kraft paper
1,204 k tonnes
Uncoated fine paper
1,666 k tonnes
Market pulp
547 k tonnes
Newsprint
313 k tonnes
Corrugated board and boxes
1,448 million m2
Industrial bags
4,881 million units
Extrusion coatings
1,249 million m2
Consumer packaging
7,156 million m2
Total market pulp and paper = 5,983 k tonnes

1 Europe including Russia and Turkey
2 Albania, Armenia, Azerbaijan, Belarus, Bosnia and Herzegovina, Bulgaria, Croatia, Cyprus, Czech Republic, Estonia, Georgia, Hungary, Latvia,
Lithuania, Macedonia, Malta, Moldova, Montenegro, Poland, Romania, Serbia, Slovakia, Slovenia, Turkey, Ukraine
* This document includes market share estimates prepared by the Group based on industry publications and management estimates. Main industry
publication sources are: RISI, PÖYRY, PCI, Eurosac, Henry Poole Consulting, Freedonia. EMGE, Eurograph delivery statistics, Pyrabelisk,
Alexander Watson Associates and management estimates.
13
A top player in our markets
We develop and maintain leading positions* in our core packaging and
uncoated fine paper markets.
Europe1
#2
Virgin
container-
board
#1
Kraft
paper
#1
Industrial
bags
#2
Extrusion
coatings
#1
Commercial
release
liner
#1
Uncoated
fine paper
#1
Office
paper
#3
Consumer
goods
packaging
EmergingEurope2
#1
Container-
board
#3
Corrugated
packaging
#1
Industrial
bags
NorthAmerica
SouthAfrica
#1
White-top
kraftliner
#1
Uncoated
fine paper
#1
Hardwood
pulp
Group presentation August 2017

Value chain
Forest
Forest
Resins
Pulp mill
Paper for
recycling
Pulp mill
Pulp mill
Pulp
Pulp
Pulp
Nonwoven plant
Paper mill
Film extrusion plant
Paper mill
Paper mill
Films
Recycled and virgin
containerboard
Uncoated fine paper
Sack kraft paper and
speciality kraft paper
Box plant
Finishing
Converting plant
Converting plant
Corrugated
packaging
Office and
professional
printing paper
Industrial bags
Barrier coatings
Release liners
Flexible packaging,
bags & pouches
Nonwovens
Technical films
Personal care
components

Packaging and paper.
Every day.
We create brilliant packaging
and paper solutions that help
our customers succeed.
And help their customers live
their lives.

Quality, partnership and experience at your service. Every day.
● Leading international player in virgin and recycled containerboard
● Unique technical customer service offers
● Enhanced options in the lightweight kraftliner portfolio in the
light of changing customer needs
● Pioneer in the kraft top liner market and one of the world’s
leading suppliers of white top kraftliner
● Driving cutting-edge technology to offer products that
meet changing customer expectations: printability, strength
and moisture resistance
Containerboard
Appearance Semi ChemKraft Recycled
5 mills
6 sales offices
1 R&D centre

More than 100 years of expertise in papermaking
● Strong commitment to high-quality sack kraft papers
● Based on virgin fibre sourced in accordance with international
forestry certification schemes
● Advantage product portfolio includes brown, white as well as
PE-coated paper grades, ideally suited for various types of
industrial bags
● Reliable, fast and global sack kraft paper supplier
Sack kraft paper
Cement & building
materials
FoodChemicals Other industries
5 mills
7 sales offices
2 R&D centres

The one-stop shop for your paper-based packaging needs
● Broad speciality kraft paper portfolio designed for special
needs and customised applications: brown, white and brown
recycled grades
● Virgin fibre sourced in accordance with international forestry
certification schemes
● Experts in translating customer requirements into tailored
packaging solutions
● With our R&D centres we offer a unique technological
knowledge hub
Speciality kraft paper
Bags and
shoppers
Release baseCoating and
laminates
4 mills
7 sales offices
2 R&D centres

● We are a leading supplier of corrugated packaging in Europe,
with strong focus on central and south-east Europe
● Full range of standard and tailor-made corrugated packaging
solutions for a variety of industries, including the food, consumer
goods, e-commerce and automotive sectors
● Network of product innovation managers, R&D-dedicated
infrastructure and optimisation tools
Creating high-performance corrugated solutions for
your needs
Corrugated packaging
16 plants
4 sales offices
Barrier optionIndustrialE-retailRetail

Your competent and reliable partner for industrial bags
● A trusted leader with operations in 29 countries, ensuring
international presence and local service across an integrated
value chain
● Development of improved processes and tailor-made solutions
together with our customers
● Technical bag expertise at its best through extensive know-how
in paper, bag converting and filling equipment
● Bag to nature – sustainable industrial bag solutions from
the Mondi Green Range
Industrial bags
42 plants
7 sales offices
1 R&D centre
Protector
bags
Self-standing
open mouth bags
Pasted
valve bags
Pasted/sewn
open mouth bags
Pinch bottom
bags

● High-quality, cost- and energy-efficient technical solutions for
various industries, including the automotive, building, food,
industrial paper and packaging, medical and pharmaceutical as
well as graphical sectors
● Extrusion coating and laminating for functional enhancement of
various substrates, such as paper, board, films, nonwovens
and scrims
We protect against wind, water, fire and earth
Barrier coatings
5 plants
AutomotiveSpecialitiesConsumer
goods
Foam papers Transport
packaging

● Our high-quality product range includes premade bags, versatile
stand-up pouches and high-performance barrier materials (any
combination of film and paper)
● The majority of production sites are BRC/IoP- and
ISO 9001:2008-certified, ensuring highest quality and hygiene
standards
Attractive and convenient packaging for the consumer
industry
19 plants
4 sales offices
1 R&D centre
Customised
reel stock
PACK
Premade bags
BAG POUCH
Premade
stand-up pouches
SLEEVES, TUBES & LIDS
Ice cream and
confectionary packaging
Flexible packaging, bags and pouches

● Leading supplier of innovative diaper components and
siliconised films and papers for the hygiene industry
● Nonwovens, e.g. for hygiene, medical or household applications
● Various laminates for diaper closure applications and adult
incontinence products
● Elastic films used in waistband and side panel applications
● Siliconised, multicolour printed films used in femcare
applications
Hygiene components and film solutions for individual needs
Personal care components
Elastic materials NonwovensFrontal tapes Siliconised wrapper
films
4 plants
1 R&D centre

● Tailor-made, silicone-coated and speciality release liners,
specifically designed for your self-adhesive or pressure-
sensitive applications
● Applications served include graphic arts, tapes, fibre
composites, labels, envelopes, medical and many more
● With our transatlantic operations, we offer high-quality and
competitive product and service solutions as well as a
stable and reliable supply chain
In touch with your self-adhesive products
Release liners
9 plants
1 logistics office
1 sales office
1 R&D centre
Medical
liners
TapesGraphic
arts
Fibre
composites
Hygiene

● Specialists in blown and cast film extrusion
● Advanced high-barrier films meeting the needs of the food
industry
● Trusted partner for international label stock producers
● Full-range supplier of laminating films and specialised in
automotive, technical and industrial applications
● Customised product solutions for our customers and markets
Flexible building blocks for your products
Technical films
5 plants
2 sales offices
1 R&D centre
Converter (barrier)
films
Label filmsTechnical
specialities
Consumer
barrier films

● A complete office portfolio: premium, everyday paper and a full
tinted range
● Wide range of whiteness levels, textures, grammages and
recycled grades for all your office applications
● Achieves optimal results on laser, inkjet and copy machines
● Green Range = a symbol for sustainably produced papers for
office users
Leading office and printing paper producer in Europe
and South Africa
Office paper
5 mills
13 sales offices
1 R&D centre
Color Copy IQ color/
MAESTRO® color
BIO TOP 3® /
NAUTILUS®
Snegurochka Rotatrim

● Full range of digital printing papers: Color Copy, DNS®,
BIO TOP 3®, NAUTILUS®, PERGRAPHICA®
● Wide portfolio of smooth, high-white/white, off-white, recycled,
coloured and coated papers for digital, hybrid, HP Indigo,
high-speed inkjet or offset presses
● Converting solutions for specialised products
● With the NEUJET® portfolio, high-speed inkjet printers enjoy
excellent image reproduction with deep and rich colours at
unprecedented speed and cost effectiveness
One-stop paper manufacturer for graphic printing needs
Professional printing paper
5 mills
13 sales offices
1 R&D centre
BIO TOP 3®Color Copy NEUJET®PERGRAPHICA®

Customer focused.
Every day.
We’re reliable.
Every day we keep the
promises we make.

Full-range supplier
Agriculture Automotive Building and
construction
Chemicals and
dangerous goods
Graphic and
photographic
Home and
personal care
Durable
consumer goods
Food and
beverages

Full-range supplier
Retail and
e-commerce
Professional
printing
Pet carePaper and
packaging
converting
Office paper
Shipping and
transport
Medical and
pharmaceutical
Visit mondigroup.com/portfolio to explore solutions for your industry.

Innovative.
Every day.
We’re innovators, creators,
pioneers – listeners. We love
to find smarter ways to help
our customers do it better.

Research and Development
Developing creative and sustainable solutions for your success.
Print Competence Centre
Produces the very best possible print quality
with optimised ink consumption for a variety of
our sack kraft paper, speciality kraft paper and
containerboard grades
Consumer Packaging R&D Centre
Develops innovative flexible film
solutions with state-of-the-art
equipment in analytics and pilot plant,
taking into account the latest
developments in raw materials and
processing and conversion
technologies
Uncoated Fine Paper
Development Centre
Develops and improves office and
professional printing papers with
excellent offset and digital print
results
Packaging Paper
R&D Innovation Centre
Develops containerboard, speciality and
sack kraft paper products and optimises
processes
Food Safety Laboratory
Develops smart and customised packaging
solutions optimised for food contact and
supports our customers in meeting increasingly
stringent regulatory requirements
Bag Application Centre
Researches and tests our packaging solutions in
our customers’ own processes to ensure we fulfil
customer requirements for industrial bags

Cutting-edge products
Advantage Print
grades*
PERGRAPHICA® iFoodbag® pak-(k)it®
With its look and
feel PERGRAPHICA®
reflects emotions that
bring your story to life.
Experience its
distinctive shades and
surfaces and you will
realise: with
PERGRAPHICA®
anything is possible,
even perfection.
Innovative packaging
solution in
partnership with
iFoodbag: paper-
based composite
material protects
chilled/frozen goods
for up to 24 hours.
The 3-in-1 pak-(k)it®
simplifies handling and
saves space in every
step from storage and
packaging to dispatch.
Advantage Kraft White Print and
Advantage Semi Extensible White Print
Our two new sack kraft
grades combine
excellent printability
with the strength of
standard sack kraft
paper. Customers
benefit from new
branding possibilities
and lower total
packaging costs.
*

Unfold (y)our
true potential.
Every day.
We want to be a place
where everyone can grow.
Careers can be made.
And opportunities unfold.

Working at Mondi is exciting and challenging!
It’s a place where careers and opportunities can flourish.
That’s why we say:
An inspiring place to work
“Unfold your and our true potential.”

The Mondi Academy offers 40 courses covering Mondi technologies,
business tools as well as personal and leadership skills.
The Mondi Academy
Technical
Excellence
Business
Excellence
Personal
Excellence
Leadership
Excellence
Customised
programmes for
 Mondi products
 Processes
 Technologies
 Markets
● Finance
● Project
management
● Business English
● Change
● Innovation
● Presentation
techniques
● Negotiation
skills
● Conflict
management
● Intercultural
diversity
● Management
techniques
● Leadership
styles
● Motivation
● Delegation
● Target setting
● Sales
● Procurement
● Shift leaders
● Finance
managers
● Customer service
● Many more

Sustainable.
Every day.
When we think about today,
we never forget tomorrow.

38August 2017
Our sustainability performance in 2016
Refreshed
andlaunched
Sustainable
Development
Policies
Rolledout
ourGrowing
Responsibly
model
25th
anniversary of WWF-Mondi
Wetlands Programme
Achieved CDP
‘LeadershipA’List
for Climate, Forest
and Supply Chain
Launched
WWF Boreal Forest Platform in
Russia together with WWF 9%reduction in specific
CO2e since 2014
5%reduction in specific
COD emissions since 2015
11%reduction in specific
waste to landfill since 2015
67%of wood and
81%of external pulp procured
FSC

or PEFC
TM
certified
790,000training hours for employees
Zerofatalities1
and life-altering
injuries, and 0.66 TRCR
1 Regrettably in February 2017 we suffered a fatality in our South African forestry operations.
€7.9minvested in community projects
Group presentation

Sustainability
A skilled and
committed
workforce
●Engage with
our people to
create a better
workplace
Fairness and
diversity in the
workplace
●Promote
fair working
conditions in
the workplace
Sustainable fibre
●Maintain 100% FSC
certification of owned
and leased forestry
operations and
promote sustainable
forest management
●Procure a minimum
of 70% of wood from
FSC or PEFC CoC-
certified sources
Climate change
●By 2030, reduce
specific CO2e
emissions by 15%
Launched in 2015, our new Growing Responsibly model is one of our Group’s strategic value drivers. While growing
responsibly has long been our philosophy, the model will continue to maintain a focus on our 16 clearly defined
commitments up to 2020 and beyond across 10 actions areas.
Employee and
contractor safety
●Avoid work-related
employee and
contractor fatalities
●Prevent life-altering
injuries
●Reduce TRCR
by 5%

Sustainability
Solutions that
create value for
our customers
●Encourage
sustainable,
responsibly
produced
products
Constrained resources
and environmental
impacts
●Reduce specific
contact water
consumption (5%)
●Reduce specific waste
to landfill (7.5%)
●Reduce specific NOx
emissions (7.5%)
●Reduce specific
effluent load (chemical
oxygen demand,
COD) (5%)
Visit mondigroup.com/sustainability to see more
examples of our commitments to sustainability.
Supplier conduct
and responsible
procurement
●Encourage supply
chain transparency
and promote fair
working conditions
together with key
suppliers
Relationships with
communities
●Enhance social
value to our
communities
through effective
stakeholder
engagement and
meaningful social
investments
Biodiversity
and ecosystems
●Promote
ecosystem
stewardship in the
landscapes where
we operate
through continued
multi-stakeholder
collaboration

Visit our website and follow us on social media for the latest news, industry trends,
events and more.
Let’s stay in touch
youtube.com/MondiCom linkedin.com/company/mondi-group facebook.com/Mondigroup
www.mondigroup.com

Forward-looking statements 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 and developments, expectations of growth and profitability and plans and objectives of management for future operations, are forward-looking
statements. Forward-looking statements are sometimes identified by the use of forward-looking terminology such as ‘believe’, ‘expects’, ‘may’, ‘will’, ‘could’, ‘should’, ‘shall’, ‘risk’, ‘intends’,
‘estimates’, ‘aims’, ‘plans’, ‘predicts’, ‘continues’, ‘assumes’, ‘positioned’ or ‘anticipates’ or the negative thereof, other variations thereon or comparable terminology. Such forward-looking
statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Mondi, or industry results, to be
materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such forward-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 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 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, prevailing and future global market prices for
Mondi’s products and raw materials and the pricing pressures thereto, financial condition of the customers, suppliers and the competitors of Mondi and potential introduction of competing
products and technologies by competitors; and (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 disclaims
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 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.

Mondi Group presentation August 2017

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Mondi Group presentation August 2017