2 March 2018 - mondigroup.com

1 Corporate investor presentation2 March 2018 Global packaging and paper group around 26,300 employees present in more than 30 countries key operations located in central Europe, Russia, North America and South Africa Offering over 100 packaging and paper products, customised into more than 100,000 different solutions for customers, consumers and industrial end-users Integrated across the packaging and paper value chain from managing forests and producing pulp, paper and plastic films, to developing and manufacturing effective and innovative industrial and consumer packaging solutions Dual listed company structure JSE Limited for Mondi Limited (primary listing) London Stock Exchange for Mondi plc (premium listing)A global packaging and paper group2 Industries we serveAutomotiveBuilding and constructionPackaging and paper convertingChemicalPet careHome and personal careMedical and pharmaceuticalRetail and E-commerceAgricultureOffice and professional printingShipping and transportFood and beverages3 Our global footprint4 CorporateofficesJohannesburgLondonVienna ProductionsitesAustriaBelgiumBulgariaChi naC ted IvoireCzechRepublicFranceGermanyHungaryI raqItalyJordanLebanonMalaysiaMexicoMoroc coNetherlandsOmanPolandRussiaSerbiaSlova kiaSouthAfricaSouthKoreaSpainSwedenThail andTurkeyUkraineUKUSKeyConsumerPackaging Uncoated FinePaperPackagingPaperFibre PackagingMondi at a glance2017 Revenue1& 2,292m 2,055m 1,646m 1,832m29%1 Segment revenues.

2 Before elimination of inter-segment revenuesPackaging PaperConsumer PackagingUncoated Fine Paper FibrePackaging26%21%24%5 Leading market positionsConsumer flexible packagingEuropeUncoated fine paper EuropeKraft paperGlobalIndustrialbags GlobalVirgin containerboard Europe# 1# 2# 3 Corrugated packagingEmerging EuropeUncoated fine paperSouth AfricaContainerboardEmerging EuropeCommercial release liner EuropeExtrusion coatingsEurope6 Consistent strategy delivering industry leading returns699 767 957 981 1,018 20132014201520162017 CAGR 12%7 Underlying operating profit and ROCE millionUnderlyingbasic earnings per shareeuro cents per share+Strong cash flow generation7157961,0391,06194820132014201 520162017 bncash generated 2013 2017 Cash flow generation1 million81 Cash flow generation based on net cash generated before capital expenditure, shareholder distributions, acquisitions and disposalsReinvested for growth and distributed to shareholdersFive-year cumulative cash flow (2013 2017 ) billionInvested in asset base( )Cash flow generationNet spent on acquisitions and disposalsChange in net debt( )( )Distributed to shareholders( )Support payment of dividends to our shareholdersGrow through selective capital investment opportunitiesMaintain our strong and stable financial position and investment grade credit metricsEvaluate growth opportunities through M&A and/or increased shareholder (Corrugated)

3 Strong track record of acquisitions billion invested in acquisitions since 201220152016 SIMET(Corrugated)Intercell(Industrial Bags) wiecieminorities(Containerboard)Kalenobe l(Consumer Packaging)Ascania(Consumer Packaging)Graphic Packaging plants (Kraft Paper & Industrial Bags) 20142 Duropackplants(Corrugated)2012 Nordenia(Consumer Packaging)KSP(Consumer Packaging)Uralplastic(Consumer Packaging)Packaging Paper Fibre Packaging Consumer Packaging102017 ExcelsiorTechnologies(Consumer Packaging)Well positioned to leverage global industry growth trends+ + + revenue2017 vs 20162 Emerging markets growthNominal , 2016- 2017 EWesternEuropeGDP1 EasternEuropeGDP1 Key global industry trendsLight-weightingRecyclableSustainab ilityConvenienceE-commerceRigid to flexibles111 Source.

4 IHS Markit, updated as of 1 March 2018 2 Emerging Europe and RussiaCreating sustainable value through our strategic framework12 Driving performance along the entire value chainCentralisedprocurement Rigorous quality managementEntrepreneurialand dynamiccultureLeanprocesses Operational excellence Efficient logistics Commercialexcellence Productivity (saleable output)Tonnes/employee, indexed8620172007100186 Culture of continuous improvement in all elements of value chain 13 Our cost advantaged operations100%73%43%100%35%37%27%57%25%4 0%100%32%11%8%12%12%White topkraftlinerUnbleachedkraftlinerNSSC flutingRecycledflutingUnbleached sackkraft paperUFP BHKP (pulp) 1 Delivered to Frankfurt except where noted 3 Delivered to Rotterdam 2 Includes specialities 4 European capacity except white top kraftliner, unbleached sack kraftpaper and BHKP (global) Q4Q3Q2Q1 Cost quartile1,4%Source: RISI (Q3 2017 ) and Mondi estimates14 Pulp and paper integrated value chain ( 2017 )Net mtNet mtNet mtExternal sales mtNet mtVirgin mtPaper for mtMondi managed forestsAAC.

5 8 million m3 Recycled mtKraft mtUncoated fine mtPaper mtPulp mtExternally procured wood13 million m3 Internally procured wood14 million m3 1 Due to commercial, logistic and sustainability considerations, the actual wood procured from our managed forests was lower than the annual allowable cut ( AAC )2 Total consumption (aggregate of internal and externally procured packaging paper)15405562595465611113%159%164%124%1 47%0%20%40%60%80%100%120%140%160%180%010 0200300400500600700800900201320142015201 620172018E2019 ECapex and investment in intangible assets as a % ofdepreciation, amortisation and impairmentsContinued investment in our world class asset base 700 - 800 million 700 - 800 millionCapital expenditure million 770 millioncommitted tomajor capital projects(2013 2016) Strong contribution from major capital projects 175million of incremental operating profit over the last four years, including 25million in 2017 15million expected in 2018 Capital expenditure expected to be in the range of 700 - 800 million per annum in 2018 and 2019.

6 T t modernisation and woodyardupgrade ( 335 million and 41 million) Ru omberoknew krafttop white machine and related pulp mill upgrade ( 310 million) Debottlenecking at Syktyvkar as part of our plan to increase saleable production by around 100 ktpa Targeted expansionary investments in Fibre Packaging and Consumer PackagingKey projects expected to increase current saleable pulp and paper production by around 9% when in full operation+Over 750 million approved major capital expenditure projects( 2017 +)16 Key capital investment projects Replacement of recovery boiler, rebuild of fibrelines and debottlenecking of paper machines Benefits:oincreasedsaleable production 90,000 tonnes per annummarketpulp and 55,000 tonnes per annum packaging paper oreduced environmental footprint, increased electricity self-sufficiency, lower production costs Approved and in progress, expected start-up in late 2018 300,000 tonne per annum krafttop white machine Debottlenecking pulp mill increasing capacity by 100,000 tonnes per annum Incentives received Pulpmill upgradein progress, start-up expected in late 2019 Paper mill expected start-up in 2020 (subject to permitting)Ru omberok mill, Slovakia ( 310 million) t t mill, Czech Republic ( 335 million)

7 17 Dedicated resources driving innovation 23 million on R&D in 2017 6 R&D centres Close co-operation with customers, universities and research partnersContinued innovation with our customersSimple SphereCourier Express Packaging e-commerce paper bagSustainable solutionCornerPack18-Efficient and sustainable, light-weight packaging solution-Enables faster packaging process with decreased logistic costs-Flexible, yet strong and durable-Responding to consumers demand for convenience in snacks on-the-go-Easy-to-use parallel semi-circular openings-Highly intuitive scoring line giving full control over the size of the opening-Replaces wooden crates used to transport car bonnets from Sweden to China -Collaboration with Scandinavian partner aPakAB-Heavy-duty cardboard packaging offering shorter assembly and dismantling times-Environmentally friendly alternativeIntegrated approach to sustainable developmentEmployee and contractor safety Avoid work-related fatalities Prevent life-altering injuries Reduce TRCR by 5% against 2015A skilled and committed workforce Engage with our people to create a better workplaceFairness and diversity in the workplace Promote fair working

8 Conditions in the workplaceSustainable fibre Maintain 100% FSC certification of our forests and promote sustainable forest management Procure a minimum of 70% of wood from FSC or PEFC certified sources with the balance meeting our company minimum wood standardClimate change By 2030, reduce specific CO2e emissions by 15% against 2014 Growing Responsibly Looking ahead to 2020: 16 commitments across 10 action areasConstrained resources and environmental impacts By 2020, reduce against 2015: specific contact water consumption (5%)1 specific waste to landfill ( ) specific NOx emissions ( )1 specific effluent load (COD) (5%)Biodiversity and ecosystems Promote ecosystem stewardship in the landscapes where we operate through continued multi-stakeholder collaborationSupplier conduct and responsible procurement Encourage supply chain transparency and promote fair working conditions together with our key suppliersRelationships with communities Enhance social value to our communities through effective stakeholder engagement and meaningful social investmentsSolutions that create value for our customers Encourage sustainable.

9 Responsibly produced products1 From our pulpand paper mills19 Sustainable development highlights 201720 Our cash flow priorities remain unchangedFree cash flow prioritiesAs appropriateMaintain our strong and stable financial position and investment grade credit metricsSupport payment of dividends to our shareholdersEvaluate growth opportunities through M&A and/or increased shareholder distributions Grow through selective capital investment opportunities21 Robust financial position 1,6191,6131,4981,3831, ( )( )( ) ,0001,2001,4001,6001,8002013201420152016 2017 Net debtNet debt / underlying EBITDA Key financial policy RetainInvestment Grade credit rating Currentratings: Moody s Investors Service at Baa1 (stable outlook) Standard & Poor s at BBB (positive outlook)+Net debt and net debt / underlying EBITDA 2017specialdividend Ordinary dividend cover (times)Continued growth in shareholder returnsOrdinary dividend CAGR.

10 15%36425257 Dividendsdeclared and recommendedeuro cents per share+ 2-3x ordinary dividend policy across the cycle The Boards regularly review the Group s capital allocation priorities to optimise value accretive growth and long-term returns for shareholders-Given our strong balance sheet position and confidence in the Group s ongoing cash generating capacity, the Boards recommended a special dividend of 100 euro cents per share621001 Based on recommended final ordinary dividend of euro cents per share2 Special dividend of 100 euro cents per share recommended in addition to ordinary dividend23 Market position sources and definitions Europe Europe including Russia and TurkeyEmerging Europe 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, UkraineNorth America Canada, Mexico, USAV irgin containerboard (Europe) and Containerboard (emerging Europe) based on capacity Source: RISI European Paper Packaging Capacity Report and Mondi estimatesKraft paper(Global) basedon capacity Source: RISI European Paper Packaging Capacity Report, RISI Mill