FACT BOOK 2021 - nipponpapergroup.com

1 FACT BOOK 20212021 11 November 2021 Contentspage11 Eleven-Year Financial Summary1 Consolidated Balance Sheets2 Consolidated Statements of Operations4 Consolidated Statements of Comprehensive Income5 Consolidated Statements of Cash Flows6 Segment Information8 Quarterly Information9 Sales by Region10 Notes* 2013 4 1 2012 * 2018 * 2020 4 30 Opal 2020 Opal 2019 * * * * Nippon Paper Industries Co.

2 , Ltd. merged with and absorbed its parent company Nippon Paper Group, Inc. and was publicly listed on April 1, 2013. For this reason, figures for FY2013/3 and prior fiscal years represent the financial results of Nippon Paper Group, Inc.* From FY2019/3, we have changed segment classification.* Following the acquisition of Orora Limited s paperboard and fiber-based packaging business in Australia and New Zealand on April 30, 2020, the company is operating as Opal, including the existing businesses of the former Paper Australia Pty. Ltd. As a result, the former Paper Australia Pty.

3 Ltd., which was previously included in the Paper and Paperboard Business, is now included in the Daily-Life Products business as "Opal" from FY2021/3 and also has been retroactively adjusted to FY2020/3.* Amounts are rounded down to the nearest million yen.* Figures may be retrospectively adjusted due to changes in accounting standards.* For audited figures and detailed information, please refer to the annual Securities ,099,8171,042,4361,025,0781,081,2771,052 ,4911,007,097992,4281,046,4991,068,7031, 043,9121,007,33935,60836,52425,14528,536 23,65622,62323,76417,61319,61535,04819,2 3331,5996,05723,08128,18823,20417,12326, 99418,64923,90130,52412,276(24,172)(41,6 75)10,65222,77023,1832,4248,3997,847(35, 220)14,2123,196(41,839)(39,477)30,55341, 86467,295(31,821)25,79515,285(45,838)(1, 946)45,534115,45460,11465,97875,76381,84 652,41987,08744,94459,76067,03684,197(93 ,467)(46,626)(61,766)(24,861)(42,483)16, 270(65,278)(62,731)

4 (47,461)(70,113)(182,945)59,0531,652(14, 385)(65,487)(52,744)(39,168)(49,694)(12, 548)(6,720)(7,397)113,69621,98713,4884,2 1250,90239,36368,68921,809(17,787)12,299 (3,077)(98,748)1,560,5921,527,6351,497,7 291,480,8941,495,6221,390,9181,388,8851, 429,8921,390,8141,363,4691,547,326408,76 2366,652396,460426,584489,740424,685434, 911443,398395,343386,577424,721832,34783 8,285830,220775,597731,834703,831678,504 693,562688,703689,937828,87046,59157,172 53,32347,16248,51846,89951,28972,76560,3 3870,63657,92978,63974,35264,90363,18161 ,37457,67255,08357,89260,42258,70563,357 6,8556,4846,3485,6905,4315,5555,6226,013 6,6946,0516,21713,83413,40713,05213,1071 2,77111,74113,05712,88112,94312,59216,15 6( )( ) ( )

5 , , , , , , , , , , , ,469114,75493,75296,33389,46785,14583,57 180,13784,58397,77986, ( )( ) ( ) Notes* * * EBITDA * ROE 100* ROA 100* ROIC 100* 2020 D/E D/E * D/E * 50 * Free cash flow = Cash flows from operating activities + Cash flows from investing activities* Interest-bearing debt = Short-term borrowings

6 + Long-term debt* EBITDA = Operating income + Depreciation + Dividend income + Interest income + Amortization of goodwill* Return (loss) on equity (ROE) = Profit (loss) attributable to owners of parent / [Average of balances at the beginning and end of fiscal year (Shareholders equity + Accumulated other comprehensive income)] x 100* Return on assets (ROA) = (Ordinary income + Interest expense) / Total assets at end of fiscal year x 100* Return on invested capital (ROIC) = (Ordinary income + Interest expense) / (Year-end shareholders equity + Year-end accumulated other comprehensive income + Year-end balance of interest-bearing debt) x 100* The FY2021/3 result for the debt/equity ratio represents the adjusted net debt/equity ratio.

7 * Adjusted net debt/equity ratio = (Net interest-bearing debt Equity-type debt) / (Shareholders equity + Equity-type debt)* Equity-type debt: The amount of debt financed by hybrid loans that has been recognized as equity credit by ratings agencies (50% of the financed amount)( )(Yen) Profit (loss) attributable to owners of parent Other Depreciation Research and development expenses Number of employees Total net assets Interest-bearing debt Financial Indicators Capital investment Net assets Cash dividends1 Per Share Data Operating income marginEBITDAEBITDA ROE Return (loss) on equity (ROE) ROA Return on assets (ROA)

8 ROIC Return on invested capital (ROIC) Equity ratioD/E Debt/equity ratio (times)11 Eleven-Year Financial Summary( )(Millions of yen) Profit / Loss Total assets Net sales Operating income Ordinary income Profit (loss) attributable to owners of parent Comprehensive income Cash flows from operating activities Cash flows from investing activities Cash flows from financing activities Free cash flow Financial Position1FY2011/3FY2012/3FY2013/3FY2014/ 3FY2015/3FY2016/3FY2017/3FY2018/3FY2019/ 3FY2020/3FY2021/3104,826119,363110,91197 ,24784,100112,51090,51459,00363,45552,84 669,733210,750205,182198,916201,713193,4 81192,941200,440220,766234,671228,178251 ,21075,48484,87581,17581,46586,89879,529 83,35782,18087,02586,98584,59616,90618,9 3517,73916.

9 88418,20418,29917,89017,17620,51819,0871 8,24148,96651,08750,38852,89957,95260,24 457,43266,54170,35165,71570,84026,11224, 9587,97016,27312,6509,3246,743 33,11942,70840,88339,19431,62630,60930,4 2645,32339,93344,58939,993(774)(765)(650 )(261)(416)(547)(600)(511)(550)(530)(851 )515,392546,344507,335505,417484,498502, 912486,205490,479515,407496,871533,76448 2,832478,844487,605491,774492,409485,784 489,397499,132504,094509,606535,112(323, 506)(330,600)(341,162)(348,323)(354,000) (353,073)(358,767)(360,867)(368,097)(373 ,790)(382,445)159,326148,244146,442143,4 50138,409132,711130,630138,264135,997135 ,815152,6662,093,3032,084,7312,118,1132, 164,2862,176,0312,161,3232,191,0732,224, 8842,217,4622,222,3152,325,630(1,731,906 )(1,762,573)(1,794,789)(1,849,355)(1,875 ,709)(1,879,807)(1,909,252)(1,912,493)(1 ,930,080)(1,946,441)(1,988,826)

10 361,397322,158323,323314,930300,322281,5 15281,820312,390287,382275,873336,803226 ,156224,301225,729223,863223,696215,0842 19,360218,318199,435197,676207,55620,881 20,75222,37221,29520,95120,04629,03027,5 0826,14625,95324,18317,52927,72119,43714 ,64921,22114,10120,46115,72122,09637,803 35,27572,48069,03769,78969,64469,30945,0 5145,61345,82347,23049,12172,154(59,290) (59,713)(59,671)(58,655)(58,504)(39,213) (40,103)(40,099)(40,674)(41,719)(46,628) 13,1909,32310,11810,98910,8055,8385,5095 ,7246,5557,40125,526798,482752,501747,42 3729,179715,406669,298686,813717,927677, 613680,524782,01225,97423,78922,72421,80 418,99215,29115,54313,86811,1378,99624,7 10193,696184,358197,323201,973252,079180 ,782183,591178,550159,198155,891161,375 1,5624,6431,7501,6186,0486,2151,09519,20 611,1787,5717,6139,6148,92810,7302,2175, 5084,4924,7767,13417,43014,57616,30112,5 2411,91510,74313,44918,03417,45215,97519 ,699(1,562)(1,505)(992)(1,182)(842)(590) (553)(524)(703)(662)(577)