First Quarter Highlights *First quarter 2021 GAAP earnings per diluted share were $0.71, compared with $0.80 in 2020. *First quarter 2021 GAAP earnings included net after-tax charges of $19.4 million related to restructuring activity, asset impairments, acquisition and divestiture transaction costs, loss on a business divestiture and non-operating pension costs which were partially offset by insurance proceeds. In the first quarter of 2020, GAAP earnings included net after-tax charges of $14.8 million related mostly to restructuring actions and non-operating pension costs. *Base net income attributable to Sonoco (base earnings) for first quarter 2021 was $0.90 per diluted share, compared with $0.94 in 2020. (See base earnings definition, explanation and reconciliation to GAAP earnings later in this release.) Sonoco previously provided first quarter 2021 base earnings guidance of $0.80 to $0.90 per diluted share. *First quarter 2021 net sales were $1.35 billion, compared with $1.30 billion in 2020. *Cash flow from operations was $138.7 million in the first three months of 2021, compared to $87.7 million in 2020. Free cash flow was $99.4 million in the first three months of 2021, compared with $57.1 million in the first three months of 2020. *On April 4, 2021, Sonoco completed the sale of its U.S. Display and Packaging business to Hood Container Corporation for approximately $80 million in cash, the proceeds of which were received subsequent to the period's end.

ePac Flexible Packaging, an industry leader in custom flexible packaging, is pleased to announce the opening of its new Grade A 2,200 square meter production plant on the Spintex Road in Accra, Ghana. A grand opening celebration was held on June 22nd with nearly 150 local dignitaries, government officials, customers, and media in attendance. Since its establishment in 2021, ePac West Africa, has served a number of customers across Africa, including customers from Ghana, Nigeria, Senegal and Zanzibar, with fulfillment handled by ePac’s plants in the UK and Lyon, France. With the opening of the new plant, ePac West Africa is uniquely positioned to serve CPG brands of all sizes throughout the region with competitively priced flexible packaging and industry best turnaround times.

International Paper announced that its board of directors elected Andy Silvernail as Chairman of the International Paper Board of Directors in addition to his role as Chief Executive Officer (CEO), effective October 1, 2024. Mark Sutton, who has continued to serve in the role of Chairman of the Board since retiring as CEO in May, will retire from the Board on September 30, 2024. International Paper Lead Director Chris Connor said, "On behalf of the Board of Directors, I'd like to thank Mark for his many years of service to IP and for his leadership as Chairman and CEO. During his tenure, he strengthened the company's balance sheet and focused the portfolio. He leaves behind a strong legacy, and we wish him and his family all the best."