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OFFON

WESTROCK COMPANY

(WRK)
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WestRock : Credit Suisse Annual Basic Materials Conference

09/13/2021 | 07:12am EDT

WESTROCK

CREDIT SUISSE ANNUAL BASIC MATERIALS CONFERENCE

SEPTEMBER 13, 2021

INNOVATIVE, SUSTAINABLE PACKAGING INSULSHIELD AND EVERGROW™

FORWARD LOOKING STATEMENT

FORWARD LOOKING STATEMENTS:

This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including but not limited to the statements on the slide entitled "Business Update" that gives guidance or estimates for future periods.

Forward-looking statements are based on our current expectations, beliefs, plans or forecasts and are typically identified by words or phrases such as "may," "will," "could," "should," "would," "anticipate," "estimate," "expect," "project," "intend," "plan," "believe," "target," "prospects," "potential" and "forecast," and other words, terms and phrases of similar meaning. Forward-looking statements involve estimates, expectations, projections, goals, forecasts, assumptions, risks and uncertainties. WestRock cautions readers that a forward-looking statement is not a guarantee of future performance and that actual results could differ materially from those contained in the forward-looking statement. Such forward-looking statements include, but are not limited to, (i) that we expect approximately $50 million of negative earnings impact in Q4 compared to our prior guidance, including that OCC costs are expected to be approximately $20 per ton higher and onetime disruptions at our Hopewell and Florence mills will negatively impact earnings by $17 million and (ii) higher costs, supply chain challenges and mill disruptions are driving Q4 earnings near the low end of our guidance range. WestRock's businesses are subject to a number of risks that would affect any such forward-looking statements, including, among others, developments related to the COVID-19 pandemic, including the severity, magnitude and duration of the pandemic, negative global economic conditions arising from the pandemic, impacts of governments' responses to the pandemic on our operations, impacts of the pandemic on commercial activity, our customers and consumer preferences and demand, supply chain disruptions, and disruptions in the credit or financial markets; decreases in demand for their products; increases in energy, raw materials, shipping and capital equipment costs; reduced supply of raw materials; fluctuations in selling prices and volumes; intense competition; the potential loss of certain customers; the scope, costs, timing and impact of any restructuring of our operations and corporate and tax structure; the occurrence of a natural disaster, such as hurricanes or other unanticipated problems, such as labor difficulties, equipment failure or unscheduled maintenance and repair; and adverse changes in general market and industry conditions. Such risks and other factors that may impact management's assumptions are more particularly described in our filings with the Securities and Exchange Commission, including in Item 1A under the caption "Risk Factors" in our Annual Report on Form 10-K for the year ended September 30, 2020. The information contained herein speaks as of the date hereof and WestRock does not have or undertake any obligation to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise.

NON-GAAP FINANCIAL MEASURES:

We report our financial results in accordance with accounting principles generally accepted in the United States ("GAAP"). However, management believes certain non-GAAP financial measures provide users with additional meaningful financial information that should be considered when assessing our ongoing performance. Management also uses these non-GAAP financial measures in making financial, operating and planning decisions and in evaluating our performance. Non-GAAP financial measures should be viewed in addition to, and not as an alternative for, our GAAP results. The non-GAAP financial measures we present may differ from similarly captioned measures presented by other companies.

We may from time to time be in possession of certain information regarding WestRock that applicable law would not require us to disclose to the public in the ordinary course of business, but would require us to disclose if we were engaged in the purchase or sale of our securities. This presentation shall not be considered to be part of any solicitation of an offer to buy or sell WestRock securities. This presentation also may not include all of the information regarding WestRock that you may need to make an investment decision regarding WestRock securities. Any investment decision should be made on the basis of the total mix of information regarding WestRock that is publicly available as of the date of the investment decision.

2

WESTROCK IS A LEADER IN DIFFERENTIATED, SUSTAINABLE, FIBER-BASED PACKAGING SOLUTIONS

Q3 SALES MIX BY END MARKET(1)

KEY HIGHLIGHTS

DISTRIBUTION,

FOOD &

INDUSTRIAL &

BEVERAGE

OTHER

31%

47%

PACKAGING SALES

71%

OF TOTAL SALES

+15% YOY

11%

11%

BEAUTY &

HEALTHCARE

RETAIL & E-COMMERCE

SPECIALTY SBS, EXPORT

CONTAINERBOARD &

OTHER

31%

PAPER SALES

29%

OF TOTAL SALES

+10% YOY

69%

DOMESTIC

CONTAINERBOARD, KRAFT PAPER,

FOOD AND BEVERAGE

$18 billion in annual revenue(2)

Broadest portfolio of sustainable paper grades and packaging solutions

Leading position in attractive and diverse end markets

beverage, e-commerce, food, foodservice, healthcare and more

Strategy to reduce exposure to lower margin specialty SBS and export containerboard markets

Enterprise sales growth with customers driving ~$8 billion, greater than 40% of annual revenue(2)

3 1) Non-GAAP Financial Measure. See Non-GAAP Financial Measures and Reconciliations in the Appendix

  1. TTM as of 6/30/2021

STRATEGIC PRIORITIES

LEVERAGE THE POWER

OF THE ENTERPRISE

EXECUTE DISCIPLINED CAPITAL ALLOCATION

PROFITABLE

GROWTH +

VALUE CREATION

LEAD IN SUSTAINABILITY

ACCELERATE INNOVATION

4

INNOVATIVE, SUSTAINABLE FIBER-BASED PACKAGING

CLUSTER-WING™

PIZZA BOX

CANCOLLAR®

RECYCLING

COCA-COLA

KRAFT HEINZ UK

DOMINO'S

COMPANY

ENSHIELD®

EVERGROW®

LIQUIBOX

BARRIER-COATED

E-COMMERCE

PAPERBOARD

SUSTAINABLE

SOLUTION FOR

KFC'S SECRET-RECIPE

PRODUCE SOLUTION

LIQUID PRODUCTS

FRIES

5

This is an excerpt of the original content. To continue reading it, access the original document here.

Disclaimer

WestRock Company published this content on 13 September 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 13 September 2021 11:11:12 UTC.


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Sales 2021 18 699 M - -
Net income 2021 846 M - -
Net Debt 2021 7 971 M - -
P/E ratio 2021 14,8x
Yield 2021 1,90%
Capitalization 12 434 M 12 434 M -
EV / Sales 2021 1,09x
EV / Sales 2022 0,93x
Nbr of Employees 50 000
Free-Float 98,5%
Chart WESTROCK COMPANY
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WestRock Company Technical Analysis Chart | WRK | US96145D1054 | MarketScreener
Technical analysis trends WESTROCK COMPANY
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Income Statement Evolution
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Mean consensus OUTPERFORM
Number of Analysts 15
Last Close Price 46,57 $
Average target price 62,43 $
Spread / Average Target 34,1%
EPS Revisions
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David B. Sewell President, Chief Executive Officer & Director
Ward H. Dickson Executive VP, Chief Financial & Accounting Officer
John A. Luke Non-Executive Chairman
Amir Kazmi Chief Information Officer
Colleen F. Arnold Independent Director
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